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Mechanics — 1:1 Wrapper & Vault

Convertibility​

  • Wrap: User deposits $TOKEN → wrapper mints $exoTOKEN 1:1 at par.
  • Unwrap: User burns $exoTOKEN → wrapper releases $TOKEN.

Public supply and reserves are reconciled 1:1; individual balances remain encrypted.

Economics​

  • Confidential accrual can mirror the base token’s yield/crediting semantics using encrypted accounting.
  • Optional convenience fees on wrap/unwrap and micro‑fees on confidential transfers/swaps (revenue‑share with issuer).

Controls​

  • Mirrors the base token’s controls: mint/burn, freeze/pause, allowlists, and transfer rules; administered by the issuer (Exosphere has no unilateral authority).
  • Emergency pause/freeze; tamper‑evident ops logs.