What it is
Asmu is a self-funded reward token on Robinhood Chain. Holding it distributes leveraged positions from Arcus perpetuals markets directly to your wallet.
A pToken is a perpetuals account tokenized as an ERC-20. Holding one gives leveraged exposure with no account to open, no collateral to post and no margin to watch. Each is rebalanced by threshold, not on a fixed clock.
The loop
- People trade $Asmu.
- Each trade pays tax in WETH.
- WETH accumulates for the epoch.
- At close, pTokens are minted at NAV and airdropped in kind.
Tax
| Wedge | Goes to |
|---|---|
| Reward payout | Mints pTokens, distributed in kind |
| Protocol | Operations, execution gas, the crank |
| Launchpad | Platform fee |
The split is fixed at deploy. One hundred per cent of protocol fees become pTokens for holders, and tax is never collected in $Asmu.
Epoch
Distributions settle every fifteen minutes. An epoch closes when the accrued tax covers settlement and the mint has been processed, so every payout is backed by fees that are already on chain.
Minting
pTokens are minted at NAV, not bought on the secondary market. The mint is asynchronous: USDG is escrowed, accepted by the manager, deposited to the account, and the NAV at the moment of processing is signed by an oracle and verified on chain before any tokens exist.
Nothing is minted at a stale number.
The treasury
Positions carry equal weight. More pTokens are added as Arcus ships them, and the live list with prices and weights sits on the index page.
Eligibility
Minimum holding is 100,000 $Asmu, which is 0.01% of supply. Below that you still hold and trade; the distribution goes to the addresses at or above the line.
Payout
your share = your balance ÷ eligible supply
You receive your share of each pToken minted that epoch. Rewards are pushed on chain, so there is nothing to claim and nothing to sign.
Risk
pTokens are leveraged. Their value moves faster than the underlying market in both directions, and carries hourly funding and the cost of rebalancing trades. Rewards are distributed in kind, and their value at receipt is not their value later.