RATCHET Not launched
A vault with its door swung open on its hinges. Inside, the words S&P 500, a rising index line, a market map of company blocks that light up in turn, and SPYB coins stacking up as tokenized S&P 500. S&P 500 SPYB

Underneath: tokenized S&P 500.

The reserve is built to hold SPYB, the S&P 500 as a token on BNB Chain, issued by bStocks.

One token, five hundred companies.

Open one SPYB and the S&P 500 is inside it: every company in the index, carried onchain.

A SPYB coin opened up to show a market map of company blocks inside it

The vault.

A contract with no owner, no admin and no parameters.

A vault with a slot on top for fees and a hatch on the side for holders, with S&P 500 company blocks inside

Fees go in through the slot. The one way out for holders is redeem(): hand tokens back, take a share.

  • No owner
  • No admin
  • No parameters
  • Holders' way out: redeem

Handed back, still earning.

Redeemed tokens stay in the vault and keep their S&P 500 dividends, which collectDividends() brings into the reserve.

A loop: tokens handed back sit in the vault, earn S&P 500 dividends, and collectDividends brings those dividends into the reserve HANDED BACK DIVIDENDS RESERVE collectDividends()

The reserve, once launched.

Addresses and balances appear here once they exist.

A vault whose window shows nothing inside and a no sign: nothing to pay yet
The reserve opens at launch.It starts empty, and an empty reserve refuses every redemption until fees are dispatched into it.
Reserve address
Not deployed yet
Token address
Not deployed yet
SPYB in the reserve
Opens at launch
Reserve per token
Opens at launch