🔱GUILD
The Protocol's Native Unit
Introduction
GUILD is the primary accounting unit of the 3 protocol. It functions as the internal medium of account within the ecosystem's operations.
Protocol Function
GUILD is a unit within a dual-mechanism system designed by the protocol:
Settlement Mechanism: The Settlement Pledge module is programmed to enable an exchange of 1 GUILD for 1 crvUSD, according to its available liquidity and governing logic.
Treasury Backing: The protocol autonomously allocates a portion of acquired assets to a treasury, which is intended to support the long-term operational logic of the system.
Protocol Interactions for GUILD Holders
Holding GUILD enables interaction with other protocol modules:
As a Unit Holder
Protocol Utility: GUILD is designed for use in transactions with other integrated protocol services.
Settlement Option: The Settlement Pledge module provides a programmed mechanism to exchange GUILD for crvUSD.
For System Alignment
Acquiring a 3Pact: GUILD can be used in the GuildLocks module to acquire a 3Pact, a governance-aligned position which may qualify the holder for future protocol distributions.
For Governance
While GUILD itself does not confer direct governance rights, the process of acquiring GUILD through certain modules (e.g., GuildSwaps: Farm) also mints 3Fi tokens, which are the primary governance utility tokens of the protocol.
Key Mechanics
Minting: New GUILD units are minted according to predefined rules when assets are exchanged via protocol modules like GuildSwaps: Farm.
Settlement: GUILD can be exchanged for crvUSD via the Settlement Contract, as per its programmed function.
Issuance Logic: During its bootstrap phase, the protocol's minting formula is set to issue 1 GUILD unit for every $1 of value it records from acquired assets.
GUILD is the core internal unit around which the protocol's operational logic is structured.
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