The top three $RSRV Notes tiers have limited global seats, with the $10K tier capped at 12, one max per district. What I like about this is that it naturally spreads distribution weight further down the ladder and reduces whale concentration. Once the highest tiers fill up, anyone looking for equivalent exposure has to piece it together through multiples of the lower denominated Notes. In theory, that should help push demand downstream and put pressure on the broader Notes floor. Getting equivalent distribution weight also becomes increasingly expensive because you need to accumulate multiples while the additional RSRV required should continue feeding the burn. I don't know where this lands, but the game theory here is fun. FWIW, I think this is much better designed than solana:92LKNLj4aU9sjUKkgH5mQCuQTPSr42HwF2QrdWDApump (the closest), $QUOTRON (Boost is the closest thing I guess), and $NET (gamified but evolving).

One of the more interesting and novel mechanics I've seen in a while. Wrapped up in all the financial terminology, I think you can decompose it as three levers at play: 1. $RSRV is the fuel. You burn it to activate Notes and move them up the denomination ladder, which increases their share of future distributions. 2. Notes are the productive/scarce asset. Once lit, they participate in protocol cashflow. Higher denominations get more weight, and unclaimed rewards can remain attached to the Note even through secondary sales. 3. Gold is the backing. Part of the value generated by the protocol gets routed into each Note’s gold cage, gradually building redeemable backing that stays with the NFT. So the basic loop is: RSRV activity generates value > Notes capture it > gold backing grows > while burning RSRV to activate/upgrade Notes progressively reduces supply. A lot of moving parts, but underneath it is basically a scarce NFT + cashflow + growing reserve-backing system. Great TLDR post from @TheReserve_rh that makes the mechanics a lot easier to understand and lowers the barrier to entry. TIP: There are NFTs floating around with unclaimed gold. Collection is here: opensea.io/collection/the-re… As always, DYOR on this as it's a micro play.