dMSTR Protocol
Multi-Tier Reserve System
Three-tier reserve architecture ensuring coupon payments during market downturns
30.7 months
Total Coverage
Reserve system is HEALTHY with 92/100 health score and $8.8M total reserves
Total Reserves
$8.8M
Across all three tiers
Monthly Obligations
$285,000.0
Bond coupon payments
Health Score
92/100
System resilience
Coverage Period
30.7m
Without new deposits
Distribution Waterfall
How profits flow through the three-tier system
1. Operational Buffer
Target: 6 months ($1.7M)
$1.9M
✓ Full2. Current Quarter Bucket
Q1-2025: Target 12 months
$3.4M
Receiving: $125,000.03. Strategic Reserve
Uncapped crisis buffer
$1.2M
Surplus reserveLast week's profit of $125,000.0 went entirely to Q1-2025 bucket
Tier 1: Operational Buffer
Immediate liquidity for regular operations
Coverage6.5 months
$1.9MTarget: $1.7M
Tier 2: Quarterly Buckets
Medium-term obligation matching
Q1-2025current
$3.4MQ4-2024filling
$2.9MQ3-2024partial
$1.3MQ2-2024empty
$0.0Tier 3: Strategic Reserve
Crisis resilience and protocol sustainability
Current Balance$1.2M
Additional 4.0 months of coverage
Reserve System Architecture
Understanding the multi-tier structure
Tier 1: Operational
Maintains 6 months of coupon payments for immediate liquidity. First priority for both deposits and withdrawals.
- • Highest withdrawal priority
- • 6-month target coverage
- • Daily operational needs
Tier 2: Quarterly
Four rotating buckets, each targeting 12 months of obligations. New bucket created each quarter.
- • 4 buckets in rotation
- • 12-month target each
- • Quarterly bucket creation
Tier 3: Strategic
Uncapped reserve for crisis resilience. Receives excess after other tiers are filled to target.
- • Uncapped capacity
- • Crisis protection
- • Last resort liquidity