Buyback and burn
Part of the protocol fee is used to buy and burn $TAVOZ. Every number on this page has an on-chain counterpart.
How it works
- 1. A share of the fee from every closed position accumulates in the burn queue.
- 2. The worker draws from the queue and buys $TAVOZ through Jupiter. A single run can spend at most 25% of the queue, and at least one hour must pass between runs.
- 3. The program performs the burn itself and records the amount on-chain.
The burned amount is not a claim: the program burns the token in its own call, and the recorded number is the result of that call. You can verify each receipt signature below on an explorer.
Total burned
0
$TAVOZ (base units)
Total spent
0 SOL
In queue
0 SOL
Waiting for the next run
Receipts
No runs yet. The first burn happens once enough fees have accumulated in the queue.
Three limits work together: 25% of the queue per run, at least one hour between runs, and nothing runs while the protocol is paused. The buyback key only reaches the fee vault; it can never touch customer collateral.