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The token

SPRUND is an ERC-20 with a fixed supply minted once at genesis, plus burn and permit. No mint function exists after deployment. Supply can only decrease through burns.

Protocol-owned pairs

The treasury contract opens Uniswap v3 positions that pair SPRUND against another asset: USDC, EURC, and tokenized assets as they arrive on Arc. Every position NFT is owned by the treasury, never by a wallet. A pair is opened with a tick range and initial amounts, and can be topped up with more liquidity. Because every pair shares SPRUND as one leg, any two paired assets are two hops apart, and every pair sees flow from every other.

Fee policy

Anyone flagged as keeper can call harvest. It collects the uncollected fees from a position and splits them according to the on-chain policy, which is currently:

The owner can change the policy; every change emits an event and shows up here immediately.

Burn

The SPRUND side of harvested fees is burned according to the policy on every harvest. Separately, the keeper can spend accumulated asset fees to buy SPRUND on the open market and burn it. Both paths are visible on the Burn page and counted in the token's totalBurned.

Dividends

The dividend share of asset fees is sent to the dividend vault. Anyone who stakes SPRUND in the vault earns those assets pro rata to their stake, in the asset itself, with no emissions and no lock. Rewards accrue per token; you claim when you like.

Keeper

Harvesting and buybacks are permissioned to keeper addresses set by the owner so that fee routing cannot be sandwiched by arbitrary callers. Keepers cannot withdraw liquidity, change the policy, or move funds anywhere but the paths described above.

Risks

• Smart contract risk. The contracts are small and built on audited components, but the system as a whole is new.
• Owner risk. The owner can open and close pairs and change the policy. Watch the events.
• Market risk. SPRUND is a volatile asset; protocol-owned positions carry inventory risk on both legs.
• Off-hours risk. Paired assets that track closed markets can gap; liquidity is thinner then.
• Arc is new. The chain launched its public mainnet on 16 September 2026 with a permissioned validator set.

Contracts