Buyback and burn

A tenth of what the fee splitter receives is spent each day to buy $RHR back and burn it, within strict price and spending guards.

on this page

A day in the life of the pot
The price guard
What gets burned
What the contract enforces
Who you are trusting
What it does not promise

A tenth of everything the fee splitter receives goes into a buyback pot. Once a day that pot is emptied: the whole amount buys $RHR from the market, and every token bought is destroyed. A burn shrinks supply. It is not a promise about price.

#A day in the life of the pot

When	What happens
All day	The buyback's 10% of each split lands in the buyback contract. Of 1,000 USDG received by the fee splitter, 100.00 USDG is the buyback's share
00:00 New York time	A keeper reads the contract's balance. That amount is the day's budget, and all of it will be spent
The next 15 minutes	The keeper makes 15 buys. After each buy, every token it brought in is burned before the next buy starts
After the run	Anything that arrived during the run waits for tomorrow's budget

Midnight in New York is 05:00 UTC in winter and 04:00 UTC in summer. Splitting the order into 15 buys keeps any single purchase from pushing the price around.

#The price guard

Each buy refuses to fill at a price more than 3% worse than a quote taken moments before it. A buy that would be worse is not made. If a day cannot be fully spent, the unspent amount carries over to the next day and is reported as carried.

#What gets burned

Every $RHR the contract holds gets burned. If the token has a burn function, the contract calls it, which lowers the total supply. Otherwise the tokens go to the dead address (0x...dEaD), where nobody can ever move them.

#What the contract enforces

Only the keeper can trigger a buy.
Each call has a spending cap, and each day has one too.
Before a buy, the router is approved for exactly the amount being spent, and the approval is reset to zero afterwards.
It calls only the router it was set up with. The token and the router are fixed at deployment, and the router address is a setting: see the contracts page.
A buy fails unless the contract's own $RHR balance rises by at least a minimum amount.
It burns everything it holds before it finishes.

#Who you are trusting

The 3% limit is enforced through the minimum-output number that the keeper supplies with each buy, so the keeper is trusted to quote honestly. The per-call and per-day caps limit the damage if it does not. Spending is bounded, but price protection depends on the keeper doing its job.

#What it does not promise

A burn removes tokens from supply. It does not guarantee a higher price, a return or a profit. The $RHR token and Staking explain where the other shares of the same fees go.