// Reserves & supply
Transparency
ZXMR total supply is verifiable on-chain. Vault XMR reserves back it 1:1.
ZXMR total supply0 ZXMR
Vault XMR reserves0 XMR
Collateralization ratio—
Backing rule
Vault XMR reserves ≥ total ZXMR supply, at all times.
It is equal at the moment of each mint — the wrap fee is itself minted as backed fee-ZXMR from the same deposit, so freshly-minted supply exactly matches freshly-deposited XMR — and strictly greater once redeem-fee surplus accrues, since every redemption burns more ZXMR than the XMR paid out.