Neverland features policy constants that allow us to optimize the system.


Minting HOOK is like as purchasing a bond from Neverland.

The BCV allows us to scale the rate at which bond premiums increase. A higher BCV means a lower discount for bonders and more protocol profit. A lower BCV means a higher discount for bonders and less protocol profit.

The vesting term determines how long it takes for bonds to become fully redeemable. A longer term means lower inflation and lower bond demand.


The DCV allows us to scale protocol buy pressure up or down. A higher DCV means more buy pressure and higher deflation. A lower DCV means less buy pressure and a weaker floor.


Profit Allocations are the only treasury variable. This allows us to choose who receives profits from the protocol.


There are no variables in the staking contract. HOOK and CLOCK are always redeemable 1:1, and profits are always distributed equally through rebase.

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