FAQ

What is shYEET and how is it different from YEET? shYEET is a tokenized share of the YAT treasury which is composed of YEET, BERA, BERA derivatives, and stables

What does MNAV mean? Market Net Value of Assets is a ratio calculated using $Treasury Value / (shYEET circulating * YEET 30dayavg Price)$

How is shYEET price calculated? $shYEET Value = Treasury / Units of shYEET circulating$

When will new shYEET be issued? At discrete times once various conditions are met. Outlined in shYEET

How do redemption windows work? Why not 24/7 redemptions? Redemption mechanics are explained in shYEET. Redemptions are not open 24/7 as the YAT needs to secure yield generation on treasury assets and ensure it has sufficient liquid assets with which to do so. This creates value for the YAT which subsequently creates value for shYEET holders. If redemptions are continuously available, users might redeem at bad rates which would reduce the treasury's ability to earn yield, and hurt all other shYEET holders.

Why a Dutch auction for redemptions instead of fixed price? It creates a more fair redemption process where frontrunning/sniping is not a viable tactic. It also prices demand more fairly where those that value redemption more highly can add value to the YAT.

Can shYEET de-peg from MNAV? shYEET has a soft peg to the MNAV as redemptions are not continuously open. In theory, it may "de-peg" if shYEET holders sell shares to each other below MNAV. However, once redemptions are open, shYEET may always be redeemed for a pro-rata share of the treasury.

What are the fees? See Fees

What are the risks? There are multiple risks, including but not limited to: (A) the collapse of YEET price relative to BERA. (B) the failure of the treasury to earn any yield on assets and thus fail to grow MNAV relative to outstanding shYEET.