dMSTR Protocol
VVEL Token Management
Mint VEL tokens for leveraged Bitcoin exposure or burn during open windows
Your VEL Balance
50,000
Value: 49.250000 tBTC
Current NAV
0.000985 tBTC
+2.1% this week
Exchange Rate
10,000:1
VEL per tBTC
Burn Window
CLOSED
Opens in 29d 23h
Burn Window Closed: Regular burning is only available during 3-day windows every ~6 months. Next window opens in 29d 23h. Emergency burning is available 24/7 with higher fees.
Initial Phase: Fixed rate of 10,000 VEL per tBTC. Switches to NAV-based pricing after 100 tBTC milestone. Current: 85 tBTC.
Mint VEL Tokens
Invest tBTC to receive VEL tokens for leveraged Bitcoin exposure
Minimum investment: $1,000 USD equivalent
Burn VEL Tokens
Redeem VEL tokens for tBTC during burn windows or emergency exit
Available: 50,000 VEL
Regular burning available during 3-day windows every ~6 months with 4% total fee.
VEL Token Information
Understanding VEL tokens and the dMSTR protocol mechanics
Token Mechanics
- • VEL tokens represent equity ownership in the protocol
- • Token value based on Net Asset Value (NAV) calculation
- • NAV = (Total Assets - Total Debt) / Total VEL Supply
- • Initial phase: Fixed 10,000 VEL per tBTC rate
- • After 100 tBTC: Market-based NAV pricing
Burn Windows
- • Regular windows: 3 days every ~6 months
- • Window duration: 259,200 seconds (3 days)
- • Regular fee: 4% (1% operational, 3% treasury)
- • Emergency available 24/7 with higher fees
- • Emergency fees based on protocol health
Current Protocol Status
Total VEL Supply:25,000,000
Protocol tBTC:85 tBTC
Debt Ratio:35.0%