How rewards are backed

The contract's code is fixed. What it allows:

• Money leaves only in two ways: a payment to someone owed, or a rebalance to Runtiler's treasury, an address fixed in the contract.
• Each payment has its own number, and the vault pays each number once, ever.
• It can be paused for safety. While paused, no purchase, payment or rebalance goes through.

What it doesn't allow:

• No one can take money out any other way. There is no admin withdrawal.
• The contract can't be upgraded or swapped for another.

What it doesn't do: it doesn't decide who is owed what. Runtiler works that out and records the total in the vault, so anyone can compare it with what the vault holds. That figure is a record, not a proof.

• Rewards, fee refunds, refunds and earnings on their way.
• What every funded account could claim right now: its reward split of its closed profit, with its fee back if its first claim has one.
• The price of every challenge that can still be refunded, because it hasn't been traded yet.
• Creators' earnings from their sales, once those can't be refunded any more.

Every 5 minutes, Runtiler compares the vault with what is owed:

• If the vault holds less, the treasury tops it up by the difference, or by as much as the treasury holds.
• If it holds more than owed plus $10, the extra goes to the treasury.

So the vault is kept at about what is owed, not a multiple of it.

In the vault

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Owed to traders

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Backed

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In the vault is the USDC the vault holds on Polygon now. Owed to traders is the total above. Backed is the first ÷ the second, rounded down, and 100% when nothing is owed. The numbers are at most a minute old.

Between top-ups, Backed can dip a little under 100% as traders' profits grow. It can stay under 100% only if the treasury can't cover the difference. If a payment is due when the vault is short, it waits until the vault can pay it, and it is never lost. See when you are paid.