Guides
Run the reserve
The admin's and the keeper's controls.
Two roles run the reserve: the admin, which sets its configuration, and the keeper, which moves value and harvests yield. The Operator page in the app appears for either wallet, and the program checks each role again on chain.
Pause and resume
The admin can pause the reserve. While it's paused, issuing, minting, converting, harvests, rebalancing and buybacks wait. Redemptions stay open, and issuers can still schedule route changes. Resuming reopens everything.
The keeper
The admin sets the keeper wallet. The keeper signs refills and investments (together with the Treasury provider), buybacks and harvests. In the app, the admin enters a new keeper address under Keeper.
The keeper service runs one of these a minute, in this order: a refill or an investment when the buffer is off target, else a buyback with a Scrip's budget through Jupiter, else a harvest of a Scrip with yield waiting. A keeper wallet can also run a single harvest from the app under Harvest now.
The Treasury asset
Before the first Scrip is minted, the admin configures the tokenized Treasury the reserve invests in:
| Setting | What it is |
|---|---|
| Treasury asset | The mint of the tokenized Treasury product |
| Provider | The whitelisted wallet that exchanges it with the reserve |
| Price adapter | The program that publishes the asset's authenticated price |
| Price feed | The account holding that price for this asset and provider |
The program checks that the feed belongs to the price adapter and names the asset and provider, and that its price is fresh.
Creating the reserve
The reserve is created once, by the Scrip program's upgrade authority, with:
| Parameter | Range |
|---|---|
| Fee treasury wallet | Receives the protocol fee in USDC |
| Protocol fee on harvested yield | 0% to 20% |
| USDC buffer target | 0% to 100% of what's owed |
| Route change waiting period | 1 hour to 1 year |
| Maximum age of the Treasury price | Up to 1 hour |
The Operator page offers this form while the reserve doesn't exist yet. Until then the app bar doesn't list the page, so open /app/operator directly with the upgrade authority's wallet.