Yield Distribution

Yield accrues automatically to stakers via share price appreciation:

sharePrice = totalAssets / totalShares

When fees flow into the vault:

  1. totalAssets increases

  2. totalShares remains constant

  3. sharePrice increases

  4. All share holders' positions appreciate

Example:

  • Vault has 100,000 XRP assets and 90,000 aXRP shares → sharePrice = 1.111

  • Protocol earns 5,000 XRP in fees → new sharePrice = 105,000 / 90,000 = 1.167

Yields accrue passively; withdrawing burns shares at current share price.

Governance by Value

Governance is dictated purely by stake size:

  • No governance token.

  • Voting weight = USD stake value at snapshot.

  • Power derives from liquidity contribution, not speculation.

Admin management:

  • ADMIN_ROLE (AxiomAccessControl) manages critical updates (upgrades, registry refs).

  • Admins can add/remove admins; system prevents removal of last admin.

  • Admins can permanently freeze critical dependencies once stable.

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