REGO is Martian dirt. The refinery turns it into PHOBOS and DEIMOS, two onchain baskets of memes and tokenized stocks. Fear and dread, diversified.
Three layers
REGO is not the basket and not a claim on a treasury. It's the raw input. Everything else is made from it.
Regolith. The only thing you deposit to mint a basket. Its price sets how much dirt the USD minimum costs on any given day.
Required input · not a basket shareAcquires and holds the exact recipe for one basket. Routes REGO through approved venues, custodies the four assets, and fails closed if anything can't be priced.
Routing + custody · one vault per basketERC-20 supply backed one-for-one in value by what its refinery actually holds. New shares are issued from value added, never from promises.
Proportional claim · redeemable to ETHTwo baskets
Named for the two moons. Phobos is bigger, closer, and spiraling in. Deimos is small and drifting out. Pick your orbit.
Equal layers of meme and market. The closer, heavier moon: more cultural exposure, faster orbit, more noise.
55% meme · 45% tokenized stock at each mint.
Space-led growth with a market-and-meme underlayer. The far moon: slower, quieter, pointed outward.
60% tokenized stock · 40% meme at each mint.
Mint
You supply REGO and nothing else. A validated quote fixes the routes, minimum shares, slippage bound, and deadline. Miss any bound and the whole transaction reverts.
You authorize one refinery to spend an exact amount of REGO. One vault, one amount, nothing open-ended.
REGO enters the refinery. A 0.30% life-support fee is separated before anything executes.
Net value is routed through approved venues into the four recipe assets, in the basket's target proportions.
Basket shares are issued from value actually added, protected by the quote's minimum output.
Worked example
Excludes venue fees, price impact, and slippage. The executable quote decides your actual share output.
Dynamic minimum
The minimum mint is set in USD, not in a hardcoded amount of REGO. The refinery reads a trusted REGO/USD valuation, so the dirt required for the minimum moves with the price of dirt.
If the valuation source is missing or stale, minting stops. The refinery does not guess.
Ascent
Ascent removes your proportional claim from every asset in the refinery, sells the slice through approved routes, and settles in native ETH.
You choose a basket-share amount. Those shares are destroyed.
The refinery removes your proportional slice of all four underlying assets.
Approved routes sell the slice and consolidate everything into WETH, then unwrap it.
A 0.30% fee is taken from gross ETH. The rest is sent to your wallet.
All four assets are sold. The fee is charged on gross ETH and net ETH returns to you in one transaction.
When explicitly enabled under pause, in-kind redemption returns your proportional underlyings instead of forcing a broken sale.
Life support
The fee recipient is a community treasury controlled by the crew's multisig. Not a founder wallet, not a foundation. Protocol revenue that funds a Phase 2 distribution to eligible REGO stakers goes through the same door.
Straight talk on the fork
The Colony runs iWOOD's vault contracts, unmodified. Same accounting, same fail-closed rules, same limits. What's different is who runs it, who gets paid, and what we don't pretend to ship.
Flight rules
A risk register, not a marketing page. Every one of these can lose you money, and several are irreversible.
Orders may suffer heavy price impact or fail outright.
Mitigation: caps, route validation, deadlines, slippage bounds.
A token or venue may pause, reject, or alter transferability without notice.
Mitigation: canonical registry checks, monitoring, emergency exit.
A bug, compromised role, or malicious module can cause total loss.
Mitigation: multisig, least privilege, staged activation. No audit yet.
An agent can misread a request or repeat an action. Not shipped in v1, still a risk in the contracts.
Mitigation: session policies, auth, idempotency, spend and time caps.
Stale or manipulated data can misprice shares.
Mitigation: trusted feeds, freshness checks, source separation.
REGO's price changes how much dirt the USD minimum costs.
Mitigation: transparent quotes and a dynamic USD minimum.
Mission phases
A phase can't activate until its contracts, liquidity, data, review, and public addresses are ready. Status changes need a verifiable transaction or report behind them.
Identity, this site, the complete documentation, and the fork disclosure. Nothing onchain yet.
Deploy REGO, the factory, both refineries, the execution adapter, and canaries. Verify accounting, pause recovery, mint, ascent, and abort before anything touches mainnet.
Launch REGO, publish its verified address and route, and freeze the canonical addresses, decimals, restrictions, and valuation sources for every genesis asset.
Production execution modules, trusted feeds, stock-token multiplier handling, multisigs, monitoring, and independent review.
Deploy paused, verify state, run a capped canary, then open public mint and ascent. Sol 1 starts here.
A share of life-support revenue may fund pull-based rewards for eligible REGO stakers. Separate economics, review, and activation.
Governance, self-pick vaults, genesis auctions, and agent execution stay on the upstream roadmap. The Colony will consider them when the reviewed contracts exist, not before.
The sol counter starts the day Phobos and Deimos go live on mainnet. Until then: mission logs, testnet rehearsals, and patches for the people who show up early.