# Welcome to Creek ### Transforming Gold into Decentralized Financial Instruments Welcome to Creek - the innovative RWAfi protocol that revolutionizes how gold's value is utilized in decentralized finance. Our protocol allows users to unlock the full potential of gold by separating its value components and creating specialized financial instruments. ### What Makes Creek Unique Creek introduces a groundbreaking approach to gold-backed assets through our Value Separation Model, which bifurcates gold's intrinsic value into two discrete components: * **Stable Value (sValue)**: Represents gold's fundamental stability through our advanced [GSVM engine](/primitives/value-separation#how-we-calculate-stable-value) * **Volatility Value (vValue)**: Captures the market price movements, enabling precise risk allocation This separation creates unprecedented opportunities for diversified exposure to gold's unique properties. ### Key Features * **Gold-Backed Stablecoin (GUSD)**: A stable digital currency fully backed by physical gold * **Yield-Generating Opportunities**: Stake Gold tokens to earn returns on your assets * **Risk Segregation**: Precision-engineered financial instruments for tailored risk profiles * **Transparent Reserves**: Full visibility into the protocol's gold backing and collateralization ### Getting Started Explore our comprehensive documentation to learn how to: * Stake your Gold tokens to generate yield * Mint and utilize GUSD in the broader DeFi ecosystem * Trade GY tokens to capture gold's price volatility * Understand the protocol's unique risk management framework Whether you're a gold investor looking for enhanced utility, a DeFi enthusiast seeking stability, or a trader interested in gold's volatility, Creek Protocol offers sophisticated tools designed for your needs. ### Join the Creek Community Connect with fellow users, developers, and the Creek team: * [Website](https://x.com/creekfinance) * [Twitter](https://x.com/creekfinance) * [GitHub](https://github.com/Creek-Finance) We're excited to have you on this journey as we bridge traditional gold investment with the innovation of decentralized finance! ### Jump right in
Getting StartedStake your XAUm/pages/CyH2xJQs9yWJ1S8BYNav
BasicsLearn the basics of Creek/pages/JjjojIyKxaiBPzzLwvtg
EarningsDive into the protocol incentive mechanism/pages/e9ZWX0DNQ22wJTCZjyW7
# About Creek is a pioneering RWAfi (Real-World Asset Finance) ecosystem transforming gold into optimized DeFi primitives for both stability and yield. By integrating physical gold assets with blockchain technology, Creek enables users to leverage XAUm tokens ([gold-backed tokens issued by Martixdock, representing ownership of one troy ounce of physical gold](https://matrixdock.gitbook.io/matrixdock-docs/english/announcements/xaum-launches-on-sui)) to create and trade various derivative financial products, including: * A gold-backed stablecoin (GUSD) * Tokens representing gold yield exposure (GY) * Risk vector tokens (GR) ### Key Entities * **Invictus Toxoplasma Limited**: The company that created and developed the Creek Protocol. * **Creek Protocol**: A decentralized protocol deployed on the SUI blockchain that facilitates the transformation of gold into DeFi primitives. * **Creek Interface**: A web interface that allows for easy interaction with the Creek Protocol. The interface provides a user-friendly way to access the protocol's features and functionalities. * **Creek Governance**: A governance system that enables community participation in the development and decision-making processes of the Creek Protocol. * **Matrixdock**: Creek's strategic partner responsible for issuing and redeeming the gold-backed XAUm tokens, as well as serving as the custodian of the physical gold reserves. ### Value Proposition Creek Protocol bridges the gap between traditional finance and the crypto economy, offering: * Secure, transparent, and capital-efficient methods to harness gold's stability * Access to DeFi's innovative yield opportunities * Asset fractionalization and enhanced liquidity * Yield generation with robust security and auditability As an open RWAfi protocol, Creek provides gold holders with novel value extraction pathways while offering stability-seekers a reliable solution in the volatile cryptocurrency landscape. By unlocking the full potential of gold as a real-world asset in DeFi, Creek Protocol stands at the forefront of the growing RWAfi movement that's reshaping the future of finance. # Concept ### **The Problem with Gold** Gold presents a trade-off: you get exposure to history's most reliable store of value, but you're stuck with daily price volatility. Stability seekers suffer through speculation-driven swings. Volatility traders carry the weight of baseline value movements they don't want. Traditional finance offers no solution. Creek Protocol does. *** ### **Value Decomposition** #### **Gold Contains Two Distinct Economic Forces** Every gold price contains: * **Baseline value**: Monetary debasement, inflation hedging, central bank policies * **Market volatility**: Trading flows, sentiment, short-term speculation These represent different economic drivers with different risk profiles. Most investors want exposure to one but not the other. #### **The Separation Concept** Creek decomposes gold's value into tradeable components that capture distinct economic properties. This isn't financial engineering for show. It solves the fundamental access problem gold has always presented. *** ### **Economic Philosophy** #### **Capital Should Work Harder** Traditional gold ownership leaves capital idle. Value separation enables multiple uses from the same underlying asset: * Stable collateral for lending while maintaining gold exposure * Leveraged volatility trading without stability overhead * Yield generation on gold-backed assets * Complex strategies impossible with monolithic tokens #### **Risk Should Match Intent** Instead of accepting bundled risk, users select specific exposures: * Conservative investors access stability without volatility * Traders capture pure price movements with built-in leverage * Stablecoin users get dollar parity backed by real assets * Protocol participants bet on ecosystem growth *** ### **Market Design Philosophy** #### **Separate Markets Work Better** Bundled assets create inefficient markets. When stability seekers and volatility traders compete for the same asset, neither gets optimal pricing. Separate markets for each value component improve efficiency. Participants with aligned objectives trade against each other rather than across different risk preferences. #### **Composability Multiplies Utility** Decomposed value components integrate naturally with DeFi: * Use stable components as collateral while trading volatile components elsewhere * Provide stablecoin liquidity while maintaining underlying asset exposure * Combine components for strategies that were previously impossible *** ### **Beyond Traditional Finance** #### **Native Digital Innovation** Most DeFi recreates traditional finance with better technology. Value separation represents something different: creating economic relationships that couldn't exist before. This approach requires programmable money. Physical assets and traditional custody cannot support real-time value decomposition and recomposition. #### **Asset Design Principles** Value separation applies beyond gold: * Assets typically bundle multiple types of economic exposure * Different investors want different pieces of that exposure * Technology now allows mathematical separation of value components * Separated components can be recombined in new ways *** ### **The Creek Approach** #### **Starting with Gold** Gold makes sense as a first implementation because the value separation is clear: long-term store of value versus short-term price movements. The economic logic is straightforward and the market need is obvious. #### **Broader Vision** This is really about pioneering a new approach to asset design. Instead of asking "how do we tokenize this asset," the question becomes "what different types of value does this asset contain, and how can we let people access exactly what they want?" *** ### **Why This Matters** #### **Precision Over Approximation** Traditional finance forces broad categories: conservative, moderate, aggressive. Value separation enables precise risk selection based on specific economic exposures rather than rough generalizations. #### **Efficiency Over Compromise** Instead of products that try to satisfy everyone and satisfy no one perfectly, value separation creates focused tools that serve specific needs efficiently. #### **Innovation Over Replication** Rather than digitizing existing financial products, this approach leverages the unique capabilities of programmable money to create entirely new economic relationships. *** Value separation addresses fundamental limitations in how traditional finance bundles risk and return. Creek Protocol demonstrates this philosophy through gold, establishing principles for broader financial innovation. # Terminology ### **Component** | **Token** | **Definition** | **Key Features** | | --------------------- | ------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------- | | **XAUm** | Physical gold-backed token serving as Creek Protocol's foundational asset | 1:1 backed by physical gold reserves, Primary asset for staking and redemption, Maintains direct gold price correlation | | **Gold Reserve (GR)** | Synthetic token representing gold's stable value component | Minted at 1 XAUM = 100 GR ratio, Embodies EMA-derived baseline value (sValue), Primary collateral for GUSD with 85% initial ratio | | **Gold Yield (GY)** | Synthetic token capturing gold's volatility component | Generated at 1 XAUM = 100 GY ratio, Represents price differential from stable value, Features 10×-30× dynamic leverage mechanism | | **GUSD** | Gold-backed USD-pegged stablecoin | Maintains strict 1:1 USD parity, Collateralized by GR tokens at 85% ratio, Protocol's primary medium of exchange | | **CREEK** | Governance token for protocol administration | Enables proposal creation and voting, Required for Insurance Fund participation, Powers progressive decentralization roadmap | *** ### **Terms** | **Term** | **Definition** | **Technical Specification** | | --------------------------------------------- | ----------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------ | | **Value Separation Model** | Creek's innovation bifurcating gold value into stable and volatile components | Decomposes gold into sValue and vValue, Creates tradeable stability and volatility exposure, Enables precision risk management | | **GSVM (Gold Stability Valuation Mechanism)** | Sophisticated pricing oracle decomposing gold prices | Dual-EMA methodology (120-day + 90-day), Adaptive parameter calibration, Real-time volatility adjustment | | **sValue (Stable Value)** | Gold's fundamental stability component derived through GSVM | Formula: α × EMA120 + (1-α) × \[β × EMA90 + (1-β) × Spot], Represents intrinsic gold value, Basis for GR token pricing | | **vValue (Volatility Value)** | Gold's volatile component capturing market movements | Formula: goldPrice - sValue, Tracks price volatility exposure, Basis for GY token leverage | | **Insurance Fund** | Protocol's financial backstop mechanism | Receives 15% of daily protocol revenue, CREEK stakers gain voting rights, Provides up to 20% loss coverage | | **Liquidation Incentive Structure** | Multi-tiered reward system for liquidators | Base 7% discount on collateral, Urgency bonuses: +1% (HF <103%) +2% (HF <101%), Maximum 10% combined incentive | | **Volatility Regime Classification** | Dynamic market condition assessment system | Standard: ±15% of 180-day average, Elevated: >15% deviation, Extreme: >40% deviation | | **Unified Distribution Model** | Transparent revenue sharing framework | 35% to GR holders 35% to GUSD LPs, 15% to Insurance Fund 15% to team, Immutable allocation structure | *** ### **Actions** | **Action** | **Definition** | **Mechanism** | | ------------------- | ----------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------- | | **Stake** | Primary method for Creek Protocol participation | Lock XAUM tokens in StakingPool contract, Instant minting of 100 GR + 100 GY, No lock-up period 0.001 XAUM minimum | | **Redeem** | Convert synthetic tokens back to XAUM | Burn 100 GR + 100 GY = 1 XAUM, Must burn equal amounts, Supports partial redemption | | **Borrow** | Mint GUSD stablecoin against collateral | Full-vault mode with multiple collateral types, Weighted average LTV calculation, Real-time health factor monitoring | | **Repay** | Repayment mechanism for borrowed GUSD | Full or partial repayment options, Dynamic stability fees (3%-17% annually), Maintains vault health constraints | | **Deposit** | Add collateral to borrowing vault | Supports multiple token types (GR SUI USDC), Real-time LTV recalculation, Increases borrowing capacity | | **Withdraw** | Remove collateral from vault | Constrained by healthy LTV maintenance, Selective withdrawal by collateral type, Prevents liquidation-triggering over-withdrawal | | **Collect Rewards** | Claim protocol revenue distributions | Internal rewards from protocol fees, External rewards from staking pools, Daily revenue distribution system | | **Liquidation** | Soft liquidation mechanism for risk management | Triggered at Health Factor <1.00, Maximum 50% collateral per transaction, Base 7% discount + urgency bonuses | | **Governance** | Community-driven protocol parameter management | Proposal creation requires 50,000 CREEK tokens, 2M token quorum (2% total supply) required, 2-day review + 5-day voting + 2-day execution | *** ### **Key Advantages** **What Makes Creek Protocol Unique?** * **Seamless Value Separation**: Automatically decomposes gold into stable and volatile components * **Liquid Composability**: All tokens remain fully tradeable and composable across DeFi * **Risk Precision**: Users gain granular control over stability vs volatility exposure * **Capital Efficiency**: Optimized collateralization ratios maximize user capital utilization **Backed by Real Gold Reserves**: All Creek Protocol tokens maintain transparent, auditable backing through physical gold custody and smart contract mechanisms. # GUIDE # How To Claim The Testnet Token ### **Step 1 - Get SUI testnet token** Visit the online faucet to request SUI tokens: {% embed url="" %} Or obtain SUI test tokens from the following community faucets: {% embed url="" %} {% embed url="" %} ### **Step 2 - Get XAUm/USDC testnet token** Open the official [testnet website](https://beta.creek.finance/stake) . Click the **“Faucet”** button.
Enter the amount of **XAUm/USDC/SUI** you want to mint, then click **“Mint.”**
### **Step 3 - Approve in Wallet** You need to confirm transaction in wallet by clicking on Approve button.
# How To Swap For GUSD ### Step 1 - Click Launch APP Click Launch APP. Next, open the [swap page.](https://beta.creek.finance/swap)
### **Step 2 - Connect Wallet** Select a wallet to connect.
Successfully connected to wallet.
### ### **Step 3 - Access Swap Function** Enter the amount of USDC to mint GUSD.
### **Step 4 - Approve in Wallet** You need to confirm transaction in wallet by clicking on Approve button.
### **Step 5 - Success** You have now successfully swapped with Creek finance!
# How To Stake And Redeem XAUm ### Step 1 - **Access Stake Function** Go to [stake page](https://beta.creek.finance/stake), enter the amount you’d like to stake, or select **“Max”** to automatically fill in the total amount of tokens available in your wallet for staking.
### Step 2 - **Approve in Wallet** You need to confirm transaction in wallet by clicking on approve button.
### **Step 3: Success** You have now successfully stake XAUm with Creek finance!
### Step 4 - **Access Redeem Function** Enter the amount you’d like to redeem for XAUm, or select **“Max”** to automatically fill in the total amount of tokens available in your wallet for redemption.
### Step 5 - **Approve in Wallet** You need to confirm transaction in wallet by clicking on Approve button.
### **Step 6- Success** You have now successfully reddem XAUm with Creek finance!
# How To Borrow GUSD **Supported Collateral:** * **GR tokens** - Up to 85% loan-to-value ratio (LTV) * **SUI** - Up to 50% loan-to-value ratio (LTV) * Other assets can be added through governance votes ### Step 1: **Access Borrow Function** Go to [borrow page](https://beta.creek.finance/borrow), deposit GR to borrow GUSD. When you deposit GR as collateral, system validates collateral value against current LTV limits Drag the slider below to select how much you’d like to borrow, or simply choose the “Max” option to automatically fill in the maximum amount you can borrow based on your available collateral.
### Step 2: **Approve in Wallet** You need to confirm transaction in wallet by clicking on Approve button.
### Step 3: **Success** You have now successfully deposited GR and borrow GUSD with Creek finance!
# How To Repay Your Debt ### Step 1: **Access Repay Function** Go to [borrow page,](https://beta.creek.finance/borrow) click the repay buttom to repay your Debt.
### Step 2: **Enter the Amount to Repay** Enter the amount you’d like to repay, or select **“Max”** to automatically fill in the total amount of tokens available in your wallet for repayment.
### Step 3: **Approve in Wallet** You need to confirm transaction in wallet by clicking on Approve button.
### Step 4: Success You have now successfully repay GUSD with Creek finance!
# How To Withdraw Your Collateral ### Step 1: **Access Withdraw Function** Go to [borrow page](https://beta.creek.finance/borrow), click the **withdraw** buttom to withdraw your position.
### Step 2: **Enter the Amount to Withdraw** Enter the amount you’d like to withdraw, or select **“Max”** to automatically fill in the total amount of collateral available in your wallet for withdrawal.
### Step 3: **Approve in Wallet** You need to confirm transaction in wallet by clicking on Approve button.
### Step 4: Success You have now successfully withdraw GR with Creek finance!
# Bug Bounty Creek Testnet Bug Bounty Program ### Description Creek protocol has officially launched on SUI testnet and is initiating a comprehensive bug bounty program to ensure maximum security standards. As a next-generation DeFi protocol designed to handle real user funds, security represents a fundamental cornerstone of our development approach. This program targets experienced security researchers to identify potential vulnerabilities within our smart contracts, web applications, and infrastructure components. ### Bounty Rewards The following reward structure applies to validated vulnerability reports: | Severity Level | Reward Amount | | -------------- | -------------- | | **Critical** | **2,000 USDC** | | **High** | **1,000 USDC** | | **Medium** | **500 USDC** | ### Scope #### 1. Swap Functionality **Endpoint**: `https://beta.creek.finance/swap`\ **Priority Level**: Medium\ **Reward**: 500 USDC **Testing Objectives**: * USDC to GUSD swap accuracy verification * GUSD to USDC swap accuracy verification * Price slippage calculation validation * Swap rate manipulation resistance testing * Edge case handling for minimal and maximum transaction amounts #### 2. Staking & Redemption Operations **Endpoint**: `https://beta.creek.finance/stake`\ **Priority Level**: Critical\ **Reward**: Up to 2,000 USDC **Testing Objectives**: * XAUm staking rate accuracy for GR\&GY token distribution * GR\&GY token redemption rate accuracy for XAUm conversion * Exchange rate manipulation vulnerability assessment * Staking and unstaking edge case scenarios #### 3. Lending System **Endpoint**: `https://beta.creek.finance/borrow`\ **Priority Level**: High\ **Reward**: Up to 1,000 USDC **Testing Objectives**: * Deposit mechanism collateral handling security * Borrowing function loan creation and limitation enforcement * Repayment function debt calculation accuracy * Collateral removal safety protocols and conditional requirements * Collateral ratio enforcement mechanisms #### 4. Liquidation Infrastructure **Endpoint**: `https://beta.creek.finance/borrow`\ **Priority Level**: High\ **Reward**: Up to 1,000 USDC **Testing Objectives**: * Liquidation trigger condition accuracy * Liquidation calculation precision for penalties and rewards * Liquidation bot fairness and MEV/front-running resistance * Partial liquidation logic validation * Bad debt scenario handling protocols ### Excluded Components * Faucet functionality ### Out of Scope Vulnerabilities #### What We Don't Care About The following vulnerability types are excluded from the bug bounty program and will not receive rewards: * **UI Bugs Without Security Impact**: User interface issues that do not affect security or financial operations * **Gas Optimizations**: Suggestions for improving gas efficiency without security implications * **Third-Party Wallet Issues**: Compatibility problems with external wallet providers * **Social Engineering**: Phishing attempts, user deception tactics, or human-targeted attacks * **Theoretical Attacks Without Real Impact**: Vulnerabilities that cannot be practically exploited or demonstrated #### Additional Exclusions * **Performance Optimizations**: Code efficiency improvements without security relevance * **Informational Findings**: General security recommendations without specific vulnerability identification * **Known Issues**: Previously identified and acknowledged vulnerabilities * **Environmental Dependencies**: Browser compatibility or network connectivity issues **Important Note**: UI bugs that have direct security implications (such as displaying incorrect transaction amounts, bypassing authentication, or enabling unauthorized actions) remain within scope and are eligible for rewards. ### Primary Focus Areas #### What We Care About Most **Exchange Rate Exploits (Top Priority)** * **Favorable Swap Rate Manipulation**: Achieve better swap rates than intended parameters (USDC-GUSD) * **Excessive Token Extraction**: Extract more GR/GY tokens when staking XAUm than algorithmically determined * **Surplus XAUm Acquisition**: Obtain more XAUm when redeeming GR/GY tokens than expected calculations * **Oracle Price Manipulation**: Manipulate oracle prices to artificially affect exchange rates **Borrowing System Vulnerabilities** * **Collateral Bypass**: Borrow more than collateral capacity allows * **Unauthorized Collateral Removal**: Remove collateral while maintaining active loan positions * **Liquidation Avoidance**: Avoid liquidation when positions meet liquidation criteria * **Interest Rate Manipulation**: Pay less interest than required by protocol parameters * **Flash Loan Attack Vectors**: Execute flash loan attacks against any borrowing function **Smart Contract Security Fundamentals** * **Reentrancy Attacks**: Execute reentrancy attacks on core protocol functions * **Access Control Bypass**: Gain administrative privileges or become protocol admin * **Mathematical Vulnerabilities**: Exploit integer overflow/underflow in financial calculations * **Concurrency Issues**: Exploit race conditions between multiple users ### How to Submit Bug Reports #### Submission Process **Email**: `dev@creek.finance` All vulnerability reports must be submitted exclusively to the above email address within 24 hours of discovery. #### Required Information Your bug report must include the following components: **1. Vulnerability Summary** * Clear, concise title describing the vulnerability * Severity assessment (Critical/High/Medium) * Affected component(s) and endpoint(s) **2. Technical Details** * **Vulnerability Type**: Specify the category (e.g., reentrancy, access control, oracle manipulation) * **Root Cause**: Explain the underlying technical issue * **Impact Assessment**: Describe potential financial or security consequences **3. Proof of Concept** * **Step-by-step reproduction instructions** * **Transaction hashes** (if applicable) * **Screenshots or video recordings** showing the exploit * **Code snippets** demonstrating the vulnerability * **Network details** (testnet addresses, block numbers) **4. Exploitation Details** * **Attack scenario**: How would a malicious actor exploit this? * **Prerequisites**: What conditions must be met for exploitation? * **Potential losses**: Quantify the financial impact * **Affected users**: Who would be impacted? #### Report Template ``` Subject: [SEVERITY] Vulnerability Report - [Brief Description] === VULNERABILITY SUMMARY === Title: Severity: Critical/High/Medium Affected Components: Endpoint(s): === TECHNICAL DETAILS === Vulnerability Type: Root Cause: Impact: === PROOF OF CONCEPT === Reproduction Steps: 1. 2. 3. Transaction Hashes: Screenshots/Evidence: [Attached] Code/Scripts: [Attached if applicable] === EXPLOITATION ANALYSIS === Attack Scenario: Prerequisites: Potential Financial Impact: Affected Users: === RESEARCHER INFORMATION === Name/Handle: Contact Method: Wallet Address (for reward): ``` #### Submission Guidelines **✅ Do Include** * Detailed technical analysis * Clear reproduction steps * Visual evidence (screenshots/videos) * Transaction hashes on testnet * Potential remediation suggestions * Your contact information **❌ Don't Include** * Attempts on mainnet * Exploitation for personal gain * Public disclosure before resolution * Spam or duplicate reports * Non-security related issues #### Response Timeline * **Initial Acknowledgment**: Within 24 hours * **Technical Review**: 3-5 business days * **Validation & Testing**: 5-10 business days * **Reward Decision**: Within 2 weeks of validation * **Payment Processing**: Within 30 days of approval #### Quality Standards Reports will be evaluated based on: * **Accuracy**: Technical correctness of the vulnerability identification * **Impact**: Severity and potential consequences * **Clarity**: Clear communication and reproduction steps * **Completeness**: All required information provided * **Originality**: First-time discovery and reporting ### Vulnerability Impact Classification | Severity | Impact Description | Specific Examples | Reward | | ------------ | ----------------------------------------------------------- | ------------------------------------------------- | -------------- | | **Critical** | Protocol fund drainage or unlimited borrowing capabilities | Drain protocol funds, Infinite borrowing | **2,000 USDC** | | **High** | Significant rate advantages or interest avoidance | Get 10x better rates, Avoid all interest payments | **1,000 USDC** | | **Medium** | Core function disruption or minor calculation discrepancies | DoS core functions, Minor calculation errors | **500 USDC** | #### Impact Examples in Detail **Critical Vulnerabilities**: * Complete protocol fund extraction * Unlimited borrowing without collateral * Infinite token minting or burning **High Vulnerabilities**: * Obtaining 10x better exchange rates than intended * Complete interest payment avoidance * Bypassing liquidation mechanisms entirely **Medium Vulnerabilities**: * Temporary denial-of-service on core functions * Minor calculation errors in non-critical operations * Edge case handling failures with limited impact *** ### Program Guidelines #### Testing Constraints * Prohibit automated vulnerability scanning tools generating excessive traffic * Maintain product, service, and infrastructure availability integrity * Avoid personal data compromise, service interruption, or performance degradation * Restrict data access and modification to researcher-owned accounts exclusively * Conduct all testing activities within designated scope boundaries * Refrain from exploiting DoS/DDoS vulnerabilities, social engineering, or spam tactics * Avoid automated scanner usage for form submission or account creation processes #### Vulnerability Chain Assessment For identified vulnerability chains, compensation will be determined based on the highest severity component only. #### Compliance Requirements * Maintain strict adherence to applicable legal frameworks * Operate exclusively within defined testing parameters * Restrict vulnerability disclosure to authorized Creek security team members and designated company personnel ### Disclosure Protocols #### Confidentiality Standards * Prohibit program or vulnerability discussion outside authorized channels without explicit organizational consent * Maintain complete disclosure restriction, including partial vulnerability information * Refrain from publishing or discussing identified security issues ### Eligibility Criteria and Coordinated Disclosure #### Reward Qualification Standards Valid reports meeting the following criteria may receive monetary compensation: 1. **First Reporter Status**: Must be the initial identifier and reporter of the vulnerability 2. **Qualification Compliance**: Vulnerability must meet established program parameters 3. **Timely Reporting**: Submit reports within 24 hours of discovery exclusively to 4. **Comprehensive Documentation**: Provide clear textual vulnerability description with complete reproduction steps 5. **Supporting Evidence**: Include relevant documentation such as screenshots or proof-of-concept code 6. **Independence Requirement**: Non-affiliation with Creek or contractor organizations (current or former employment) #### Submission Requirements * Detailed vulnerability analysis and technical description * Complete step-by-step reproduction methodology * Relevant supporting evidence (screenshots, code samples, transaction hashes) * Exclusive submission through designated email address () * Clear impact assessment and potential exploitation scenarios #### Quality Standards Reports must demonstrate: * **Technical Accuracy**: Precise vulnerability identification and impact assessment * **Reproducibility**: Clear steps enabling consistent vulnerability reproduction * **Business Impact**: Quantifiable risk assessment to protocol operations * **Remediation Insight**: Constructive suggestions for vulnerability resolution *** ### Core Focus Statement **Focus on these 4 core functions: Swap, Stake/Redeem, Borrow, and Liquidation. Break them, and we'll pay you for it.** The Creek Bug Bounty Program prioritizes vulnerabilities that compromise the fundamental financial logic of our protocol. We reward researchers who can demonstrate real exploits that affect user funds, exchange rates, or protocol solvency. ### Program Objectives The Creek Bug Bounty Program represents a collaborative effort between security researchers and protocol developers to establish robust security standards within the DeFi ecosystem. Through systematic vulnerability identification and responsible disclosure practices, participants contribute to the advancement of decentralized finance security while receiving appropriate recognition and compensation for their contributions. #### Success Metrics * Identification and resolution of critical security vulnerabilities * Enhancement of protocol security posture * Establishment of ongoing security research relationships * Contribution to broader DeFi security knowledge base *** **Total Reward Pool**: Up to 2,000 USDC per qualifying vulnerability **Program Duration**: Ongoing during testnet phase **Contact**: Submit all reports exclusively to **Last Updated**: October 2025 # Onboarding Creek Mainnet introduces a complete suite of gold-powered DeFi primitives on Sui. Letting you swap stablecoins and gold, stake XAUm to mint GR and GY tokens, borrow GUSD against your collateral, redeem back into XAUm, and trade GR/GY through DeepBook integration. This guide walks you through every action available on the Creek mainnet app. **App Guide includes:** * Swap — convert between USDC, GUSD, and XAUm * Stake — split XAUm into GR + GY * Borrow — mint GUSD against collateral * Redeem — recombine GR + GY back into XAUm * Trade — buy and sell GR / GY (powered by DeepBook) * Earn — GY Holdings, earn yield from gold volatility * Stats — track your positions and history

# How to swap Convert between USDC, GUSD, and XAUm. 1. Go to the Swap page.
2. Select USDC as your input token and GUSD as the output.
3. Select GUSD as your input token and USDC as the output. （需要解决问题后再上传截图） 4. Select USDC as your input token and XAUm as the output.
# How to stake and reddem Stake/ Reddem XAUm to mint GR and GY tokens. ### How to stake 1. Go to the Stake page
2. Enter the amount of XAUm you want to stake. Each 1 XAUm mints 100 GR + 100 GY.
3. Done!
Review the output: * **GR Minted**: Stable value tokens (used as collateral for GUSD) * **GY Minted**: Volatility tokens (10x–30x leveraged gold exposure, no liquidation) * **Revenue Share**: 35% of protocol revenue distributed to GR holders, 35% to GY holders *\[screenshot]* Approve and confirm. GR and GY will appear in your wallet immediately. No lock-up period. ### How to Redeeming GR + GY back to XAUm On the Stake page, select the **Redeem** tab. 1. Enter equal amounts of GR and GY (100 GR + 100 GY = 1 XAUm).
2. Done!
Review the output: * **XAUm Received**: Amount of XAUm to be returned * **Redemption Fee**: Currently 0% (governance can adjust up to 1%) *\[screenshot]* Approve and confirm. XAUm is sent to your wallet immediately. # How to borrow Depositing Collateral and Borrowing GUSD 1. Go to the Borrow page.
2. In the **Deposit** section, select your collateral asset (e.g., GR, SUI, USDC) from the dropdown.
3. Enter the amount of collateral you want to deposit. * Type the amount manually * Click **Max** to deposit your full balance * Drag the **LTV slider** below to adjust both collateral and borrow amounts simultaneously 4. Borrow Done!
**Repaying GUSD** 1. Click **Repay** in the My position panel.
2. Enter the amount of GUSD you want to repay (partial or full). Click **Max** to repay the full balance.
3. Done!
**Withdraw GR** 1. Click **Withdraw** in the My position panel.
2. Select the collateral type and enter the amount to withdraw.
3. Approve and confirm.
# How to trade Trade GR and GY tokens through Creek's integration with DeepBook, Sui's native liquidity layer. **Available Markets** * **GY/USDC** — speculate on gold's price volatility with built-in leverage * **GR/USDC** — gain stable gold-baseline exposure **Getting Started** 1. Before you can start trading, you need to create a BalanceManager.
1. Deposited funds appear in the Available column and can be used for trading immediately.
3. Enter the amount you want to deposit. The system will indicate if your Balance Manager already meets the minimum requirement.
3. Click Confirm to approve the transaction.
**Placing an Order** 1. On the right panel, select the **Buy** or **Sell** tab. 2. Choose your order type: * **Market**: Execute immediately at the best available price * **Limit**: Set a specific price; order executes only when the market reaches your price **Limit Order** 1. Enter the **Amount** of GY (or GR) you want to buy or sell, or drag the **Size slider**.
1. Click **Buy** or **Sell**. Your limit order will appear in the **Order Book** and in your **Open Orders** tab at the bottom. **Market Order** 3. With **Market** selected, enter the amount of GY (or GR) you want to buy or sell in the **Amount** field. You can: * Type the amount manually * Drag the **Size slider** below to choose a percentage of your available balance (0% to 100%)
# Value Separation ### **What Is Value Separation?** Value Separation splits gold's price into two parts: a **stable component** and a **volatile component**. Think of it as separating the long-term trend from short-term price swings. * **Stable Value (sValue)**: Based on smoothed price averages over months * **Volatile Value (vValue)**: Everything else - the daily ups and downs * The math is simple: Stable + Volatile = Total Gold Price ### **How We Calculate Stable Value** The **Gold Stability Valuation Mechanism (GSVM)** uses a weighted formula: **Core Algorithm:** ``` sValue = α × EMA120 + (1-α) × [β × EMA90 + (1-β) × SpotPrice] ``` Where: * **α = 0.8** (weight for 120-day average, governance adjustable) * **β = 0.7** (weight for 90-day average, governance adjustable) * **EMA120**: 120-day exponential moving average * **EMA90**: 90-day exponential moving average * **SpotPrice**: Current oracle-supplied market price With default parameters, this simplifies to: ``` Stable Value = 80% × EMA120 + 20% × [70% × EMA90 + 30% × current price] ``` This gives us a price that moves with long-term trends but ignores short-term noise. The 120-day average does most of the work, while recent prices keep it from getting too stale. ### **Dynamic Adjustments** The system adjusts its calculations based on how volatile gold is being: **When markets are calm:** * Uses less of the long-term average (down to 65%) * Allows more sensitivity to current prices **When markets are chaotic:** * Relies more heavily on long-term averages (up to 95%) * Filters out more of the noise The system measures volatility using a 30-day rolling standard deviation, then compares it to the past 6 months to decide what's "normal." Changes happen gradually - maximum 1.5% per day - so the system doesn't overreact to temporary spikes. ### **Creating the Volatile Component** Once we have the stable value, the volatile part is just subtraction: ``` Volatile Value = Current Gold Price - Stable Value ``` This creates natural leverage for the volatile component. When gold trades close to its stable value, the volatile part gets highly leveraged. When there's a big gap, leverage decreases. The leverage ratio is always: Gold Price ÷ Volatile Value ### **Price Feeds and Security** We pull gold prices from multiple sources and run several checks: * **Multiple oracles** - no single point of failure * **Outlier detection** - automatically throws out suspicious data points * **Consistency checks** - makes sure prices make sense over time * **Weighted recent data** - newer prices matter more, but not too much This makes it much harder for someone to manipulate the system by attacking a single price feed. ### **Why This Works** **Cleaner separation**: Using multiple timeframes gives us better trend identification than simple moving averages. **Self-adjusting**: The system gets more conservative when markets are volatile and more responsive when they're stable. **Hard to game**: Multiple validation layers and gradual adjustments make manipulation expensive and ineffective. **Gas efficient**: Smart batching and optimized calculations keep costs reasonable. **Community controlled**: Key parameters can be adjusted through governance while keeping the core system secure. The math is straightforward, the execution is robust, and the results give you two distinct risk profiles from the same underlying asset. # Implied Leverage Ratio ## **Understanding GY's Implied Leverage** ### **The Gold Trading Problem** Gold traders face an impossible choice in traditional markets: **Spot Trading**: Small movements, limited profit potential, slow cycles\ **Futures Trading**: High leverage but constant liquidation risk and funding costs\ **Options**: Time decay and complexity eat into returns GY (Gold Yield) solves this by providing **leveraged gold exposure without liquidation risk**. *** ### **How GY's Leverage Works** #### **Built-In Amplification** GY doesn't use borrowed capital. Instead, leverage is embedded in the token's mathematical structure: * **Gold moves +2%** → GY typically moves +20-40% * **Gold moves -3%** → GY typically moves -30-60% * **No liquidation threshold** → Positions survive market crashes #### **Dynamic Leverage Calculation** GY's leverage ratio is calculated as: **Leverage Ratio = Current Gold Price / Volatile Value (vValue)** This ratio fluctuates continuously but **consistently maintains approximately 10x or higher**. During high volatility periods, ratios can reach 20-30x.
*** ### **Liquidation-Free Trading** #### **Traditional Leverage Problems** Standard leveraged gold products: * **Margin calls** force position closure at worst possible times * **Funding costs** erode profits through daily fees * **Liquidation cascades** amplify market crashes * **Position sizing** limited by collateral requirements #### **GY's Solution** With GY, there are no: * ❌ Margin calls * ❌ Liquidation events * ❌ Funding fees * ❌ Collateral requirements * ❌ Position management stress **You simply hold the token.** Market crashes reduce your position value but never force closure. Market rallies amplify gains without leverage costs. *** ### **Leverage Examples in Practice** #### **Bull Market Scenario** **Gold rallies from $3,680 to $3,754 (+2%)** * **Spot gold holder**: +2% return * **GY holder**: +20% to +40% return (10-20x leverage) * **Traditional 10x futures**: +20% minus funding costs, liquidation risk during pullbacks #### **Bear Market Scenario** **Gold falls from $3,680 to $3,606 (-2%)** * **Spot gold holder**: -2% loss * **GY holder**: -20% to -40% loss (maintains position) * **Traditional 10x futures**: -20% plus funding costs, potential liquidation if overleveraged #### **Volatile Market Scenario** **Gold whipsaws between $3,606-$3,754 (±2%)** * **Spot gold holder**: Minor 2% gains/losses * **GY holder**: 20-40% swings but no forced exits * **Traditional leverage**: Risk of multiple liquidations on whipsaws, destroyed by fees *** ### **Why This Matters for Traders** #### **Survive the Volatility** Gold markets can be brutal. A 5% overnight gap can liquidate traditional leveraged positions. GY holders simply wake up with lower token values but intact positions. **Real benefit**: You can ride out temporary setbacks and benefit from eventual recoveries. #### **No Funding Drag** Traditional gold futures carry daily funding costs that compound over time. For swing traders and position holders, these fees can eliminate profits even on winning trades. **GY eliminates this friction entirely.** #### **Psychological Advantage** Knowing you can't be liquidated changes how you trade: * **Less panic selling** during drawdowns * **Better position sizing** without collateral constraints * **Cleaner technical analysis** without liquidation level concerns * **Focus on market timing** rather than risk management *** ### **Leverage Dynamics** #### **Market Regime Impact** **Standard Conditions** (normal gold volatility): * Leverage ratios stable around 15-20x * Predictable amplification of gold moves * Steady relationship between gold price and GY value **High Volatility Periods**: * Leverage can spike to 25-30x during rapid moves * Greater sensitivity to short-term price changes * Enhanced profit potential with proportional risk **Extreme Events**: * System maintains stability through automatic adjustments * Leverage ratios may compress temporarily for risk management * Recovery amplifies gains during market normalization #### **Time Horizon Effects** **Day Trading**: High leverage captures intraday gold movements\ **Swing Trading**: Medium-term trends get amplified without decay\ **Position Trading**: Long-term gold moves provide substantial leverage benefits *** ### **Risk Management with GY** #### **Position Sizing is Key** Since you can't be liquidated, the main risk management tool is **initial position size**: * **Conservative**: 2-5% of portfolio in GY for asymmetric upside * **Moderate**: 5-10% for meaningful leverage exposure * **Aggressive**: 10%+ for concentrated gold speculation #### **Understanding Drawdowns** GY can experience severe drawdowns during gold bear markets: * **30-50% declines** are possible during extended gold weakness * **Recovery amplifies** when gold trends reverse * **No permanent capital loss** unless you sell at the bottom #### **Complementary Strategies** Many traders combine GY with: * **GR holdings** for balanced gold exposure * **GUSD** for stable collateral in other strategies * **Traditional gold positions** for diversified risk profiles *** ### **The Trading Edge** #### **Clean Leverage** GY provides what gold traders have always wanted: **pure leveraged exposure without operational overhead**. No margin management, no funding calculations, no liquidation monitoring. Just amplified gold price action in a simple token format. #### **DeFi Integration** Unlike traditional leveraged products, GY works seamlessly in DeFi: * **Collateralize** GY for additional strategies * **Provide liquidity** to GY trading pairs * **Compose** with other protocols for complex strategies * **Trade** on decentralized exchanges with full control *** ### **Bottom Line** GY transforms gold trading by solving the leverage dilemma. You get the amplified exposure serious gold traders need without the liquidation risk that destroys most leveraged positions. **For gold bulls**: Amplified upside participation without forced exits during corrections\ **For gold bears**: Short exposure tools without unlimited loss potential\ **For volatility traders**: Clean leverage exposure without operational complexity The key insight: **leverage becomes useful when liquidation risk is removed**. GY makes this possible for gold trading for the first time. # GUSD Gold-pegged Stablecoin ### **What Is GUSD?** GUSD is stablecoin pegged to $1.00. You can mint it by depositing collateral or through the Peg Stability Module using USDC. The system maintains the $1.00 peg through multiple mechanisms including collateral-backed loans and direct USDC conversion. ### **Borrowing Against Your Assets** **Supported Collateral:** * **GR tokens** - Up to 85% loan-to-value ratio (LTV) * **SUI** - Up to 50% loan-to-value ratio (LTV) * Other assets can be added through governance votes **How it works:** 1. Deposit your collateral into the smart contract 2. System validates collateral value against current LTV limits 3. GUSD gets minted to your wallet based on the maximum borrowing capacity 4. Your debt position gets tracked with real-time health monitoring **Loan-to-Value Limits:** The LTV ratios determine how much you can borrow against each asset type. GR tokens have the highest LTV at 85% because they're backed by gold reserves, while SUI has a more conservative 50% limit due to higher volatility. ### **Repaying Your Debt** **Full repayment**: Return all your GUSD plus any stability fees, get all your collateral back. **Partial repayment**: Pay back any amount you want. The system calculates fees on what you're repaying and releases collateral proportionally. The rest of your debt continues. Stability fees vary based on GUSD market conditions and are applied at repayment time. ### **Health Factor and Liquidation Risk** Your **Health Factor** determines liquidation risk: ``` Health Factor = (Total Collateral Value × Weighted Liquidation Threshold) / Total Debt Value ``` **Liquidation thresholds** by asset: * **GR tokens**: 95% threshold (highest safety margin) * **SUI**: 60% threshold (higher risk due to volatility) **Risk Classification:** | Health Factor Range | Risk Level | Status | | ------------------- | ----------- | -------- | | > 1.25 | Safe | Green | | 1.10 - 1.25 | Warning | Yellow | | 1.05 - 1.10 | Danger | Orange | | 1.01 - 1.05 | High Risk | Red | | ≤ 1.00 | Liquidation | Critical | For multi-collateral positions, the system calculates a weighted average threshold based on the value of each asset type. ### **Liquidation Process** **Liquidation triggers** when Health Factor drops below 1.0: **Liquidation mechanics:** * Liquidators can purchase up to 50% of collateral per transaction * 2-block waiting period between liquidation attempts * Liquidators burn GUSD to pay debt and receive collateral at a discount * Discount rates vary by collateral type to incentivize liquidation **Liquidation protections:** * Partial liquidation limits prevent complete position loss in single transaction * Oracle price delays (3-block minimum) prevent flash loan manipulation * Gas price caps during high volatility periods * Whitelisted liquidator network during extreme market conditions **Backstop liquidation:** * Insurance Fund activates if positions remain underwater >1 hour * Executes liquidation at market price without discount as last resort ### **GUSD Peg Stability Module** The **Peg Stability Module (PSM)** provides direct GUSD↔USDC conversion to maintain the $1.00 peg. **Single Asset Vault:** * **USDC-only pool** - simplified single-asset design * **Direct 1:1 mapping** - no complex multi-asset management * **Immediate conversion** - no waiting periods or complex calculations **Minting Process (USDC → GUSD):** 1. Deposit USDC into the PSM vault 2. System mints GUSD 1:1 instantly 3. **Zero fees** on minting to encourage GUSD creation 4. USDC remains in vault as backing **Redemption Process (GUSD → USDC):** 1. Submit GUSD for redemption 2. System burns the GUSD 3. Withdraw equivalent USDC from vault 4. **0.3% fee** deducted from output USDC 5. **Fee destination**: Direct transfer to team address **Vault Funding:** * **User deposits only** - vault funded entirely by users exchanging USDC for GUSD * **No external funding** - no protocol subsidies or team contributions * **Self-sustaining** - vault grows and shrinks based on user demand This creates a direct arbitrage mechanism: when GUSD trades below $1.00, users can buy it on the market and redeem it for $0.997 worth of USDC (after fees). When GUSD trades above $1.00, users can mint it with USDC and sell it on the market for profit. ### **Emergency Protections** **Global Settlement**: Governance can activate emergency shutdown during extreme market conditions. All stability fees are settled before proportional collateral distribution to users. The system combines collateral-backed stability with direct USDC convertibility to maintain GUSD's $1.00 peg through multiple layers of economic incentives. # Revenue and Rewards ### **Protocol Revenue Sources** Creek generates revenue through four main channels across the protocol ecosystem. **XAUm Redemption Fees** are currently set at 0%, though governance can adjust this up to 1%. These fees get collected in XAUm tokens when users redeem, providing a potential revenue stream with minimal impact on user experience. **GUSD Stability Fees** operate on a dynamic 0-20% annual rate that adjusts based on market conditions. The system applies these fees during loan repayment using the formula: `(Loan Amount × Annual Rate × Days) ÷ 365`. When GUSD trades below its $1.00 peg, higher fees encourage repayment and help restore price stability. **Liquidation Penalties** come from liquidated collateral across all supported assets including SUI, GR, WBTC, and USDC. Each asset type gets pooled separately, with automatic collection during liquidation events. This provides liquidator incentives while generating consistent protocol revenue. **Strategy Vault Revenue Share** gives Creek a 10% cut of total vault earnings. The system automatically deducts this from vault profit distributions, creating variable income that depends on vault performance and market conditions. ### **Revenue Distribution** The protocol processes revenue through a daily cycle at 00:00 UTC, converting all collected fees to SUI for unified distribution. Emergency processing is available for administrators during critical events. Revenue gets allocated according to fixed percentages: * **GR Token Holders**: 35% distributed via rewards contract * **GUSD LP Providers**: 35% through external AMM pools * **Insurance Fund**: 15% for protocol security * **Team Treasury**: 15% to multi-signature address (immutable allocation) ### **Earning Rewards** **GR holders** receive their share through the StakingPoolRewards contract, which calculates proportional distribution based on holdings and configurable APR rates. Rewards are liquid with no lock-up requirements - you can claim directly through Creek's interface at any time. **Collateral providers** earn through CollateralVaultRewards, with per-second calculations using `Balance × APR ÷ (365 × 24 × 3600)`. Each asset type has different APR configurations, with higher rewards typically offered for higher-risk collateral positions. ### **Insurance Fund** The insurance fund operates as Creek's primary safety mechanism, funded through multiple sources. It receives 15% of daily protocol revenue, plus 100% of liquidation rewards when the protocol executes backstop liquidations. Users can also deposit SUI and USDC to earn yield while supporting protocol stability. **User deposits** earn 10-25% APY based on fund utilization rates. The system clearly discloses maximum 20% principal exposure during extreme market events, with withdrawals subject to fund availability and current market conditions. The fund activates automatically when gold price deviates more than 15% within 24 hours, during multiple oracle failures, or when governance declares emergencies. It serves as an automated backstop when normal liquidation mechanisms face insufficient coverage. ### **Risk Management** Creek implements conservative deployment constraints to protect both the protocol and user funds. The system limits single-event exposure to 40% of total reserves, with target reserve size scaling proportionally to protocol growth. A hard cap restricts fund size to 20% of total TVL, redirecting excess reserves to GUSD reward pools. **User protection measures** prioritize depositor capital before protocol interests. During adverse scenarios, the system implements pro-rata loss sharing among all participants. Users maintain recovery rights for future surplus allocation, with real-time fund status and deployment metrics available on-chain for full transparency. The insurance fund's utilization strategy balances conservative risk management with sufficient reserves for ongoing protocol security, providing capital for emergency liquidations and system stability during extreme market conditions. # Governance ### **How Creek Governance Works** Creek Protocol uses **CREEK tokens** for decentralized governance, giving token holders the right to propose and vote on protocol changes. The system balances community participation with protocol security through a structured proposal process and integrated insurance fund staking. All governance contracts are open-source and permissively licensed, allowing for community review and contribution to the protocol's development. ### **Proposal Lifecycle** Every proposal follows a standardized timeline designed to ensure thorough review and prevent rushed decisions: **Creation** → **2-day Delay** → **5-day Voting** → **2-day Execution Delay** → **Implementation** During the initial delay period, the community can review and discuss the proposal before voting begins. After voting concludes, a timelock period provides final security before implementation. Successful proposals have a 30-day execution window before they expire. ### **Staking for Governance Rights** To participate in governance, you must stake CREEK tokens into the Protocol Insurance Fund. This dual-purpose mechanism establishes your voting power while strengthening the protocol's financial backstop against market volatility. **Staking functions:** * `stakeToInsuranceFund(delegate_address)` - Stakes all approved tokens * `stakeAmountToInsuranceFund(delegate_address, amount)` - Stakes specific amount * `unstakeFromInsuranceFund(amount)` - Withdraws staked tokens The delegate\_address can be your own address or another user's address if you want to delegate voting power. Unstaking during active votes maintains your voting power until voting concludes, with a standard 3-day cooldown period for withdrawals. **Staking benefits and risks:** You earn base yield from 15% of protocol revenue plus additional yield from liquidation fees. Your voting power equals your staked amount. However, during extreme market conditions, up to 20% of staked value may be used for system stability, with losses distributed proportionally among stakers. Recovery rights apply to any future system surplus. ### **Creating Proposals** **Eligibility requirements:** * Minimum 50,000 CREEK tokens staked in Insurance Fund * Tokens staked for at least 3 days prior to submission **Proposal types** can address parameter modifications, protocol upgrades, treasury utilization, external integrations, or emergency market responses. **Submission process:** Use `propose(actions)` to submit executable contract calls, then `describe(proposal_id, description)` to provide comprehensive details including rationale and expected impact. For convenience, use `propose_and_describe(actions, description)` as a combined function. The recommended approach involves drafting proposals on Creek's forum for community feedback, refining based on input, then submitting the final on-chain proposal with detailed documentation. ### **Voting Process** Creek implements simple majority voting with quorum requirements. Each staked CREEK token equals one vote, which can be cast "For" or "Against" using `vote(proposal_id, for_vote)` where the boolean parameter indicates your choice. **Voting weight calculation** uses a 2-day smoothing period to prevent flash loan attacks: `voting_weight = average(staked_tokens)` over the smoothing period. You can check real-time voting metrics with `get_proposal_stats(proposal_id)`. **Execution requirements:** * Minimum 2,000,000 CREEK token quorum (2% of supply) * Simple majority (>50%) "For" votes * Completion of execution delay period * Execution within the 30-day window Any address can trigger execution using `execute(proposal_id, actions)` once conditions are met, with actions matching the original proposal specification. ### **Governance Parameters** The system operates with these fixed parameters: * **Proposal threshold**: 50,000 CREEK tokens * **Voting start delay**: 2 days * **Voting period**: 5 days * **Vote weight smoothing**: 2 days * **Quorum requirement**: 2,000,000 CREEK tokens * **Execution delay**: 2 days * **Execution window**: 30 days Proposers can cancel their proposals during the delay period using `cancel(proposal_id)` if errors are identified or circumstances change. ### **Emergency Governance** Creek incorporates tiered emergency response for critical security issues or extreme market events. **Guardian Multisig** operates as a 5-of-7 multisig that can enact temporary emergency measures including pausing protocol functions, adjusting critical risk parameters, and implementing emergency oracle fallbacks. These measures are limited to 72 hours before requiring regular governance confirmation. **Recovery Mode** activates automatically when system-wide collateralization falls below 150%, gold price drops more than 20% in 24 hours, or multiple oracle failures are detected. During Recovery Mode, minting gets restricted to higher collateralization ratios and liquidation thresholds are adjusted. Regular governance is required to exit Recovery Mode. ### **Decentralization Roadmap** Creek follows progressive decentralization through three phases: **Early Stage** maintains team control over core protocol parameters to ensure security and optimize initial market conditions. **Post-TGE Phase** transfers governance authority to CREEK token holders for all protocol decisions. **Full Decentralization** achieves complete protocol sovereignty by the DAO with mature governance processes. This governance structure ensures Creek can launch securely under experienced team guidance, then transition to community control once token distribution creates a robust governance foundation. The integrated Insurance Fund staking model aligns governance participants with protocol security while providing additional yield opportunities. # Roadmap Future Development and Ecosystem Expansion Creek Protocol follows a meticulously structured roadmap across three strategic phases, designed to establish an innovative gold-based decentralized finance ecosystem that revitalizes this millennium-old store of value through cutting-edge DeFi primitives. ### Early Stage * **Strategic Partnership Development**: Establish a core integration with Matrixdock to leverage their XAUm gold-backed tokens, while securing partnerships with major exchanges, payment platforms, and prominent DeFi protocols. Simultaneously build community presence across Telegram, Discord, and Twitter channels, with targeted outreach to traditional gold investors. * **Core Protocol Development**: Implement the innovative gold value bifurcation model, building upon Matrixdock's XAUm token to develop three core protocol tokens—GUSD, GY, and GR. Additionally, construct the gold stability valuation system and oracle network infrastructure to establish protocol security foundations. * **Community Incentivization Framework**: Launch token distribution strategies, staking incentives, airdrops, and contribution rewards to maximize early protocol participation and bootstrap network effects, with special focus on onboarding traditional gold investors into the DeFi ecosystem. * **Initial Security Infrastructure**: Partner with tier-1 blockchain security firms to conduct comprehensive smart contract audits, establish a robust bug bounty program, and implement multi-layered security measures to safeguard user assets. ### Growth Stage * **Protocol Mainnet Launch & Feature Expansion**: Following rigorous beta testing and community feedback integration, fully deploy the Creek Protocol platform, incorporating the token system, reserve mechanism, AMM markets, and price stability modules. * **Market Infrastructure Optimization**: Deploy adaptive market mechanisms providing deep liquidity for GY and GR tokens, enabling efficient price discovery and volatility value trading while maintaining yield liquidity across market conditions. * **Stablecoin Ecosystem Development**: Expand GUSD minting capabilities to support multiple collateral types, implement dynamic stability fee models, and establish comprehensive risk management and liquidation frameworks. * **Technical Architecture & Governance Enhancement**: Continuously improve smart contract infrastructure, refine governance mechanisms enabling community participation through the CREEK governance token, while strengthening oracle networks and security protocols. * **Global Market Expansion**: Extend international partnership networks, implement multi-language support, and cultivate a global user base with strategic focus on regions with active gold investment markets. * **Yield Distribution Architecture**: Establish transparent protocol revenue distribution mechanisms, enabling GY holders, GUSD holders, and the protocol treasury to proportionally benefit from ecosystem growth and protocol fee generation. * **Tokenomics Recalibration**: Implement periodic DAO-governed reviews of token allocation parameters, staking ratios, and reward distribution frameworks to ensure adaptability to evolving market conditions. ### Maturity Stage * **Ecosystem Integration & Optimization**: Fully integrate all Creek protocol primitives, including token systems, reserve mechanisms, liquidity pools, and price stability modules, while optimizing system performance and user experience. * **Global Market Leadership**: Position Creek as the dominant protocol for gold-backed stablecoins and gold derivatives, attracting institutional investors and strategic project teams across the digital asset landscape. * **Continuous Innovation Pipeline**: * Integrate artificial intelligence and machine learning technologies to enhance price prediction models and risk management systems * Explore bridges with traditional financial institutions to strengthen physical gold backing and compliance frameworks * Develop advanced GY-based derivatives markets offering sophisticated investment and hedging instruments * Research cross-chain integration solutions to expand the Creek ecosystem across multiple blockchain networks * **Insurance Mechanism Refinement**: Establish comprehensive insurance fund architecture and multi-tiered safety networks providing protection against extreme market conditions and enhancing system resilience against black swan events. * **Long-Term Sustainability Framework**: * Expand community incentive programs ensuring continued participation and contribution * Establish sustainable liquidity provision mechanisms maintaining market depth across cycles * Optimize yield distribution systems ensuring continuous value accrual to stakeholders * Explore innovative gold equity representation forms enhancing ecosystem attractiveness ### Key Development Milestones * **Q3 2025**: Complete token system and foundational staking mechanism development, deploy testnet version * **Q4 2025**: Launch mainnet with core functionality: Matrixdock XAUm integration, staking mechanisms, GUSD minting, GY trading system, AMM markets, and yield distribution architecture * **Q1 2026**: Implement multi-asset collateralization and comprehensive risk management system * **Q3 2026**: Release CREEK governance token, activating community governance * **Q4 2026 and beyond**: Deploy advanced features including cross-chain integration, GY derivatives market, and AI-driven risk management systems Creek Protocol is a pioneering RWAfi (Real-World Asset Finance) ecosystem transforming gold into optimized DeFi primitives for both stability and yield generation. By bridging physical gold assets with blockchain technology, Creek enables users to leverage XAUm tokens (gold-backed tokens issued by Matrixdock, representing ownership of one troy ounce of physical gold) to create and trade various derivative financial products, unlocking new capital efficiency paradigms and yield opportunities for this millennium-old store of value. # Assets #### [GR — Gold Reserve](https://suivision.xyz/coin/0xd2e5cb84b33e2acadff5d1c8a30181e8871de44b5bfbea5b8c615ec6218b2fca::coin_gr::COIN_GR) Stability token that tracks gold moving average for value preservation. * **Symbol:** GR * **Decimals:** 9 * **Package ID:** `0xd2e5cb84b33e2acadff5d1c8a30181e8871de44b5bfbea5b8c615ec6218b2fca` * **Coin Type:** `0xd2e5cb84b33e2acadff5d1c8a30181e8871de44b5bfbea5b8c615ec6218b2fca::coin_gr::COIN_GR` #### [GY — Gold Yield](https://suivision.xyz/coin/0x8a99b479476950871a0cf29a1cde19c283515067d4cd93da5b446b448ec512e9::coin_gy::COIN_GY) Volatility token that captures gold price fluctuations for yield generation. * **Symbol:** GY * **Decimals:** 9 * **Package ID:** `0x8a99b479476950871a0cf29a1cde19c283515067d4cd93da5b446b448ec512e9` * **Coin Type:** `0x8a99b479476950871a0cf29a1cde19c283515067d4cd93da5b446b448ec512e9::coin_gy::COIN_GY` #### [GUSD — Gold-backed USD](https://suivision.xyz/coin/0x8d8b4b5bcfca1e497b4aff33100a521ac4e253d9a96ac44bb3bfe1bde7038ccd::coin_gusd::COIN_GUSD) Stablecoin token that maintains USD parity through over-collateralized gold reserves. * **Symbol:** GUSD * **Decimals:** 9 * **Package ID:** `0x8d8b4b5bcfca1e497b4aff33100a521ac4e253d9a96ac44bb3bfe1bde7038ccd` * **Coin Type:** `0x8d8b4b5bcfca1e497b4aff33100a521ac4e253d9a96ac44bb3bfe1bde7038ccd::coin_gusd::COIN_GUSD` # Security Implementation *Sui Foundation DeFi Security Compliance* Creek is implementing the Sui Foundation's DeFi security requirements during beta testnet phase. As of October 2025, we have completed initial compliance milestones and are preparing for mainnet launch. ### Sui Foundation Requirements Mysten Labs and Sui Foundation require DeFi projects to meet specific security standards for ecosystem participation and support eligibility. Requirements are categorized as: * **Hard Requirements:** Mandatory with specific deadlines * **Recommendations:** Best practices for enhanced security ### Implementation Status #### Code & Smart Contracts ✅ *Required by Oct 10, 2025* * ✅ Open-source code with comprehensive test suites on GitHub * ✅ Move Registry integration with reproducible builds * ✅ Security audit completed with published results * ✅ 90%+ test coverage achieved across smart contracts * ✅ Multisig governance deployed for critical capabilities #### Monitoring & Operations ⚠️ *Required by Nov 15, 2025* * 🔄 Solvency monitoring system in development * ✅ Automated invariant checks implemented * ✅ Circuit breaker mechanisms deployed * 🔄 24/7 incident response team being established * ✅ Incident response procedures documented ### Proactive Security Measures #### Bug Bounty Program ✅ *Typically required at $5M TVL* Despite being in testnet with no actual TVL, Creek has proactively launched a bug bounty program to identify and resolve potential vulnerabilities before mainnet. * [Bug Bounty Program](/beta-the-gold-rush/bug-bounty) * Rewards: Up to $2000 for critical findings * Scope: All smart contracts and protocol components ### Mainnet Preparation Timeline #### October 2025 - Current Phase * 🔄 Smart contracts under audit by professional security firm * 🔄 Audit report to be published upon completion * ✅ Core infrastructure development completed #### November 2025 - Mainnet Preparation * Complete second security audit (minimum 2 audits required before mainnet) * Finalize 24/7 operations infrastructure and monitoring systems * Complete solvency monitoring deployment with third-party verification * Conduct comprehensive incident response drills and team training #### December 2025 - Mainnet Launch * **Mainnet goes live** * All audit reports published and issues resolved * All Sui Foundation requirements fully implemented * Operational readiness demonstrated with live monitoring systems ### Beyond Minimum Requirements Creek exceeds Sui Foundation minimum standards by: * **Early Bug Bounty**: Implemented before TVL requirements * **Comprehensive Monitoring**: Real-time invariant checking beyond basic requirements * **Security Partnerships**: Full integration with recommended providers * **Operational Excellence**: 24/7 readiness before mainnet launch ### Current Focus Areas 1. **Monitoring Infrastructure**: Completing third-party verifiable solvency system 2. **Operations Team**: Establishing 24/7 coverage with 30-minute SLA 3. **Documentation**: Finalizing all technical and operational procedures 4. **Testing**: Ongoing stress testing of circuit breakers and emergency procedures Creek demonstrates commitment to security excellence by implementing comprehensive measures during testnet phase, ensuring full readiness for mainnet deployment. *Creek Protocol - Beta Testnet Phase | October 2025* # Audits * 🔍📝 Audit report: * # Brand kit #### Creek Branding {% file src="/files/sjAOyO3PD2CZmivs3Wb7" %} {% file src="/files/4mB8DwB84WWVLVaPT2Ll" %} {% file src="/files/fNPuphBBYigZB43uCurV" %} {% file src="/files/V0i9djeMEiEexqmrzE6b" %} #### Asssts {% file src="/files/ZVURlLcjNyG3vbHEhUvB" %} {% file src="/files/BK89LuzGPAcarN5GS37l" %} {% file src="/files/BqDPWFvlPWuuRT7nkpGu" %}