Chain snapshot · 26,228,098 · 31.6M ZCHF outstanding against 11.9M ZCHF of reserve capital
FCS, the share token in Frankencoin’s docs, wraps FPS one to one.
ZCHF is a Swiss-franc stablecoin with more than one minter — the hubs below, a bridge, and the savings module’s interest all mint it — so the supply is the franc count itself, stated beside the hub book rather than equated with it. The FPS price is the Equity contract’s own issuance rule (3 × equity ÷ FPS supply), in ZCHF like every figure on this page.
One pool, two accounts — the reserve’s balance equals equity plus the borrowers’ contributions by the contract’s own accounting, and this page reads all three sides at one block. A challenge shortfall lands on the position’s own contribution first, then on the equity: FPS capital is the junior tranche.
The Leadrate prices new V2 minting: each position pays it plus its own fixed risk premium, charged up front for the remaining term at each mint. Governance moves the Leadrate, and a position’s past mints keep the rate of their own moment — today’s figure prices today’s minting only. V1 positions fixed their whole rate at opening; the opening fee is the flat spam gate every new original position pays before its veto window starts.
Minted by the open book is what the open positions owe, gross: each mint counted in full, including the reserve share and the interest that went to the reserve. ZCHF on Ethereum is the token’s supply here, from every minter; ZCHF sent to another chain through Chainlink CCIP is burned on Ethereum. On this page’s figures the open book owes 1,693,451.37 ZCHF more than that supply: more ZCHF has left for other chains than the bridges and other minters have added.
Anyone can open a position on any ERC-20 — 191 of the 247 are clones reusing an already-vetted original’s terms. The tokens are counted rather than summed: no collateral total exists here, because valuing 30 different tokens would take a price feed the protocol deliberately runs without. Browse the positions.
This record is Frankencoin’s whole substitute for an oracle: declared prices stand until a challenge auction tests one, the veto window filters new originals, and forced sales clear what expires. A challenge that reached a phase-2 sale sold position collateral; the others were averted at the declared price — the market calling the price fair — or are still running.