Aped heavier on $BACKED at 350k.

Seeing this token at this cap is proof the trenches are either braindead or too lazy to read ten lines of text.

The natural arbitrage floor, i.e. the mcap where the tokens have a 1% burned = 1% of the stocks in the vault redemption ratio, currently worth $250k, is at 250k mcap right now.

This means that since this token is backed by real stocks, it can't go to zero.

Why?

If you buy tokens below the arbitrage level, you can just burn them and receive the same % of the stocks in the vault, which are worth more in dollars than what you paid for the tokens. Free money glitch.

So there's a sort of buy pressure that builds up near the arbitrage price.

In 2 months it has never touched the arbitrage value, obviously because smart money scoops every dip.

It got close to the floor four times, but it always stayed 30% above it.