The sovereign onchain central bank.

It sets its own rate, defends its own currency, and stacks its own hard reserve.

And it answers to no board, committee, or government. Because it's 4,000 lines of immutable code.

The bank is code.

The Central Bank

The central bank issues $STANDARD into an LP with a Uniswap V4 hook that governs the monetary policy of the token per epoch. It tracks one number: net ETH flow. Real capital entering the system minus real capital leaving it. Not volume, which wash trades. Not sentiment, which lies. Only Net Flows.

If net capital flow is positive, the central bank goes into expansion for that epoch. The issuance of $STANDARD runs at a higher rate to incentivize more growth. Trading fees are directed to the expansion vault, which purchases tokenized gold and increases protocol owned liquidity to strengthen the reserves for $STANDARD.

If net capital flow is negative, the central bank goes into contraction for that epoch. The issuance rate is cut to prevent further dilution. Trading fees are directed away from the expansion vault and directed to the contraction vault, which is fully used for token buybacks and burns to defend $STANDARD.

Bank Charters

A bank charter is an (initially) soulbound NFT and the center of the economy. Holding a charter is what makes you a banker: it is the license to run your own bank and receive $STANDARD issuance from the central bank.

The genesis issue is capped at 1000 Founding Charters. Scarcity is policy: the banking system expands deliberately, never faster than the economy can absorb, so growth compounds instead of diluting.

As the economy evolves, additional bank charters are auctioned daily, where the number of charters auctioned is determined by the central bank's monetary policy. The auctions are held in ETH, and the monetary policy decides where it flows.

Bank Branches

Bank charter holders (bankers) can purchase expansion licenses to open additional bank branches to expand their ownership of $STANDARD emissions — capped at 10 total bank branches per charter.

Bank expansion licenses are limited and issued daily at a dutch auction, paid fully in $STANDARD and fully burned. The dutch auction lets every license find its fair market price with the number of expansion licenses dictated by the central bank's monetary policy.

Every epoch, the central bank issues a fixed amount of $STANDARD to all bank branches, divided pro rata. Fixed is the whole point. A hundred Bankers or a hundred thousand, the daily issue is not infinitely inflatable. Growth changes who splits the pie. It never inflates the pie, and it never touches a printer, because there is no printer to touch.

$STANDARD Inflation

$STANDARD issued to bankers can be freely used within the economy to purchase expansion licenses. However, every withdrawal mints $STANDARD into the float. That is inflation, and in this system, inflation gets an equal and opposite reaction.

Tokens are only removed from the economy by permanently destroying a bank branch — every destroyed branch increases the issuance share of every remaining bank. Destroying a bank branch mints $STANDARD directly to the banker's wallet, pro rata to how many branches the banker has: one branch of ten releases one tenth of the balance. Removing the final branch burns the bank charter itself and permanently removes that bank from any issuance from the central bank. The only way back in is to win a new charter at auction. There are no revolving doors here.

Additionally, there is the resolution fee. On a quiet day, 2%. But the fee climbs as withdrawals across the whole system increase, up to 60% in a full bank run. Half of every fee is burned. The other half is paid to every Banker who stayed — a bull premium of sorts.

This is a bank run, inverted. In the old world, a run drains the system and the slowest one out eats zero. Here, a run pays the patient. The people sprinting for the door fund the people who refused to move. No bailout, no suspension of withdrawals, no emergency weekend meeting. The pricing IS the circuit breaker.

Dormant Bankers

A dormant banker is an unproductive banker that siphons issuance away from active bankers. If a banker goes dark for 30 days, it can be reported by anyone. The informant collects a bounty, the ghost pays a fee worse than any honest wind-down, their branches are shuttered, and the yield flows back to Bankers still at their desks.

Lost keys, abandoned wallets, tourists: none of them dilute a working Banker.

Auditable Balance Sheet

$STANDARD is minted at exactly one moment: when a Banker destroys a branch and withdraws. It is burned constantly: every charter auctioned, every branch opened, every open market operation, every resolution fee.

Circulating supply is therefore a receipt, not a promise. It equals value withdrawn from the system minus everything the bank has clawed back and burned. One onchain number, total burned against total issued, tells you whether this economy is eating or bleeding. No vesting. No unlocks. No insider allocation. All $STANDARD is earned by being a productive banker or bought on the open market.

The Flywheels

The adoption flywheel. Every new charter auctioned is paid for in ETH, a hard asset that is used to strengthen and defend $STANDARD. Growth does not dilute this system, it feeds it.

The expansion flywheel. The most rational move inside the system, growing your bank, permanently shrinks the float. Every ambitious Banker is a burn machine.

The fee flywheel. Every trade deepens protocol liquidity, stacks the hard reserve in surplus, and funds buybacks in deficit. Trader or banker, pure volume in either direction feeds the central bank.

The monetary policy flywheel. This is the one nobody else has. Capital enters: everything goes into incentivizing growth of the economy and hardening $STANDARD with reserves. Capital leaves: the rate cuts within one epoch, fees flip into open market operations that buy and burn $STANDARD, and the resolution fee climbs with the crowd at the exit, half burned, half paid to the Bankers who stayed. Staying yields the most at exactly the moment staying is hardest. The system gets more defensive the worse things get.

Every path through this economy either burns $STANDARD or brings in ETH, and most do both. The result runs in one direction only: the float gets scarcer while the balance sheet gets harder. Soft supply out, hard assets in, every single epoch.

STANDARD is an experimental onchain protocol. It is not a bank, holds no deposits, offers no accounts, and is not a regulated financial institution of any kind. Nothing here is investment advice. Participate at your own risk.