Transparency

NAV

NAV = productive meme value + reserve asset value + STONK dry powder, each marked at the latest snapshot price. Treasury LOCK is never included, and is never shown as a share of treasury value — only as a share of total token supply.

Circulating LOCK

Circulating LOCK = total supply − treasury LOCK. NAV / LOCK divides NAV by this figure, not by total supply, so treasury-held LOCK cannot understate the backing behind LOCK that actually trades.

Pricing

Each holding is marked at its latest observed price at snapshot time, from a single price source shared by this site and by the treasury's own execution — so what is displayed here and what the treasury acts on can never be different numbers. Thin or illiquid markets are not smoothed or estimated: if a reliable price cannot be read, the site says the snapshot is stale rather than showing a guessed number.

When the treasury refuses to act

Every snapshot is checked against the one before it, and a snapshot that fails stops the treasury for that period rather than being traded on. The checks are bands on how far NAV and the LOCK price may move between snapshots, not merely tests for missing data — a feed returning a confidently wrong number is not a failure to compute, and because the daily release rate is the NAV multiple itself, a bad price would not only trigger selling but size it larger. Halting is the safe direction: a day not traded costs throughput, a day traded on a bad price costs principal.

Snapshot cadence

The indexer takes a timestamped snapshot on a fixed interval. Every page uses the same source label and timestamp. Data older than 15 minutes is treated as stale rather than presented as live.

55 sec ago●On-chain