Treasury & revenue share
The treasury is funded two ways: the 4% treasury slice of the HBR swap tax, and all SAC proceeds. It is the protocol's balance sheet — everything below is what it does with that cash flow.
What the treasury does
- External investments — deploys capital and compounds the returns back into the balance sheet.
- Buy & burn — uses cash flow to market-buy HBR and burn it (on top of the automatic 0.5% burn slice of the tax).
- Deepens native liquidity — adds to the HB-N/HEX and HBR farms' pools.
- Protocol-owned liquidity — the 1% auto-liquidity slice of the swap tax is converted to HBR/PLS LP held by the treasury. It is protocol-owned, not burned, so it can be migrated to deeper pools later; it is never a payout to third-party LPs.
Revenue share to single stakers
Single-staked HBR (the staking vault) receives a share of treasury cash flow, starting at 10% and growing over time.
How it's paid: the treasury takes that share of revenue, market-buys HBR with it, and transfers the HBR into the staking contract, which automatically distributes it pro-rata to stakers. Every distribution is therefore also buy pressure on HBR before it reaches a single staker.
Vault stakers (HBR deposited against a specific HB-N maturity) have their own revenue stream: the 1% bond creation/wrap fees of their maturity, plus a treasury-funded multi-token drip basket (WPLS, PLSX, HEX, INC, DAI) that streams each coin over a rolling 365-day window. The basket is registered but not yet funded — drips begin once the treasury funds it.
After PLS reaches 10× SAC price
The treasury de-risks: positions convert to stables, deployed into V3 liquidity, and the cash-flow split becomes:
| Share | Destination | |---|---| | 50% | revenue share to single-staked HBR | | 25% | compounding investments | | 25% | HBR buy & burn |
The percentages are treasury policy, executed on-chain through the mechanisms above — they are deliberately not hardcoded, so the split can grow toward stakers without a contract migration.
Hex Bond is an independent, standalone protocol — no partnerships, and no affiliation with any other team or protocol.