Overview

TRYD is a fully reserved digital Turkish lira. A single issuance of 650,000,000 tokens was created against a lira deposit, after which the mint authority was revoked. Tokens circulate on Ethereum, BNB Chain, Arbitrum One and Robinhood Chain, and every token in circulation can be redeemed for one lira by a verified account.

This document is the working specification. It covers the contracts, the bridge message format, how the reserve is measured, and the interfaces you need to accept or pay out TRYD.

What TRYD is not

• It is not an investment product. Holding TRYD pays no interest and carries no claim on reserve income.
• It is not algorithmic. There is no supply response to price; the peg is held by open redemption at par.
• It is not rebasing. Balances change only when tokens move.

Token specification

The 650,000,000 cap is enforced globally. The sum of balances across the four networks is invariant; bridging moves tokens between mirrors, it never creates them.

Contract addresses

Ethereum and Robinhood Chain are live. TRYD is deployed at the same address on both — 0xface679e147820a73526ebd1fbd82173e3481511; there is no other. BNB Chain and Arbitrum are not deployed yet and are marked as such — the supporting contracts further down this page are still placeholders for integration work and cannot receive funds. Each deployment is published here, on the landing page and in the project GitHub, together with the verified source on its explorer.

Verify every address against this page and the project GitHub before sending funds.

Supporting contracts

Issuance and redemption

Issuance moves tokens out of the reserve-backed float into circulation; it does not create tokens. Redemption moves them back and releases lira.

Issuing TRYD

1. Complete verification once. You receive an account reference such as TRY-4821-KD.
2. Transfer lira to the account named in your dashboard, quoting the reference.
3. The desk confirms the deposit, deducts the 0.10% issuance fee, and releases TRYD to your address on the network you selected.
4. Release happens within one hour of confirmed settlement during banking days.

Redeeming TRYD

1. Call redeem(uint256 amount, bytes32 accountRef) on the redemption desk from any of the four networks.
2. Tokens are burned into the float. The event Redeemed(address,uint256,bytes32) is your receipt.
3. Lira settle to the bank account bound to that reference, same business day under ₺1,000,000.

// Redemption, ethers v6
const desk = new ethers.Contract(DESK, [
  "function redeem(uint256 amount, bytes32 accountRef)",
  "event Redeemed(address indexed from, uint256 amount, bytes32 accountRef)"
], signer);

const ref = ethers.encodeBytes32String("TRY-4821-KD");
const tx  = await desk.redeem(ethers.parseUnits("25000", 6), ref);
await tx.wait();

Sending TRYD directly to the vault or the token contract does not redeem it and cannot be reversed automatically. Always call redeem.

Bridge protocol

Ethereum is canonical. Moving TRYD to another network locks tokens in the vault and instructs the destination mirror to release the same amount. Moving back burns the mirror balance and unlocks the vault.

Message format

struct BridgeMessage {
  uint16  srcChain;    // LayerZero v2 endpoint id
  uint16  dstChain;
  bytes32 recipient;   // left-padded EVM address
  uint256 amount;      // scaled to the destination token's decimals
  uint64  nonce;
  bytes32 lockHash;    // keccak256(vault lock receipt)
}

Guarantees

• Conservation. The vault balance always equals the sum of mirror supplies. A mirror cannot mint without a matching lock receipt.
• Rate limit. 25,000,000 TRYD per rolling 24 hours per route, enforced on-chain. Above that, transfers queue rather than fail.
• Replay protection. Nonces are consumed per route; a repeated lockHash reverts.
• Delay window. Transfers over 5,000,000 TRYD wait 30 minutes before release, giving the monitor time to halt a suspicious route.

Routes

Reserve methodology

The reserve is measured against circulating supply, defined as total issuance minus tokens held in the float address and minus tokens locked in the vault against mirrors already counted.

Attestation

An independent accounting firm confirms balances on the last business day of each month and signs a report published here within ten days. Between reports, a Chainlink proof-of-reserve feed publishes the custodian balance every six hours, and the redemption desk halts automatically if coverage reads below 99.5% for two consecutive updates.

// Read live coverage
const feed = new ethers.Contract(POR, [
  "function latestRoundData() view returns (uint80,int256,uint256,uint256,uint80)"
], provider);

const [, reserve, , updatedAt] = await feed.latestRoundData();
const coverage = Number(reserve) / 1e18 / circulatingSupply;

Fee schedule

There is no fee on holding and no minimum balance. Issuance and redemption have a ₺100 minimum per instruction.

Integration guide

Accepting TRYD on an EVM network

import { ethers } from "ethers";

const TRYD = "0xface679e147820a73526ebd1fbd82173e3481511"; // Ethereum
const abi  = [
  "function balanceOf(address) view returns (uint256)",
  "function transfer(address to, uint256 value) returns (bool)",
  "event Transfer(address indexed from, address indexed to, uint256 value)"
];

const token = new ethers.Contract(TRYD, abi, provider);

// Watch a merchant address for incoming payments
token.on(token.filters.Transfer(null, MERCHANT), (from, to, value) => {
  const lira = ethers.formatUnits(value, 6); // TRYD is 6 decimals on Ethereum
  console.log(`received ₺${lira} from ${from}`);
});

Gasless payment with permit

// The payer signs; your relayer pays gas
const sig = await signer.signTypedData(domain, types, {
  owner: payer, spender: MERCHANT, value, nonce, deadline
});
const { v, r, s } = ethers.Signature.from(sig);
await token.connect(relayer).permit(payer, MERCHANT, value, deadline, v, r, s);
await token.connect(relayer).transferFrom(payer, MERCHANT, value);

Robinhood Chain

// Same ERC-20 interface — only the RPC and the token address change
const provider = new ethers.JsonRpcProvider("https://rpc.mainnet.chain.robinhood.com"); // chainId 4663
const TRYD  = "0xface679e147820a73526ebd1fbd82173e3481511"; // same address as on Ethereum
const token = new ethers.Contract(TRYD, ERC20_ABI, signer.connect(provider));

await token.transfer(MERCHANT, ethers.parseUnits("25000", 6)); // 6 decimals, gas paid in ETH

Decimals differ by network: 6 on Ethereum and Robinhood Chain, 18 on the OFT mirrors. Always read decimals(). Convert through a decimal type, never through a JavaScript float.

REST API

Base URL https://api.tryd.finance/v1. Public endpoints need no key. Issuance and redemption endpoints require a bearer token bound to a verified account.

GET /supply

{
  "total": "650000000",
  "circulating": "417260000",
  "byChain": {
    "ethereum": "300000000",
    "bnb":      "175000000",
    "arbitrum": "110000000",
    "robinhood": "65000000"
  },
  "asOf": "2026-09-18T06:00:00Z"
}

GET /reserve

{
  "reserveTry": "418940000",
  "circulating": "417260000",
  "coverage": 1.004,
  "lastAttestation": "2026-08-31",
  "feed": "0xC0dE5A1b47F9382eDb6c05A1f74e8B39d2c7104E"
}

POST /issue

curl -X POST https://api.tryd.finance/v1/issue \
  -H "Authorization: Bearer $TOKEN" \
  -H "Content-Type: application/json" \
  -d '{
        "amountTry": "25000.00",
        "chain": "arbitrum",
        "recipient": "0xYourAddress",
        "reference": "TRY-4821-KD"
      }'

GET /transactions/:hash

Returns the settlement state of one issuance, redemption or bridge transfer, including the lira leg where one exists.

Limits

• 60 requests per minute for public endpoints, 600 with a key.
• Amounts are decimal strings. Never send floats.
• Idempotency: pass Idempotency-Key on every POST; repeats return the original result.

Security and audits

Operational controls

• Vault and desk are behind a 4-of-7 multisig with a 48-hour timelock on parameter changes.
• A monitor account can pause a single bridge route without a timelock. It cannot move funds.
• Rate limits are enforced in the contract, not by the relayer.
• Disclosure: security@tryd.finance, PGP key on the GitHub organisation. Bounty up to ₺4,000,000 for a critical finding.

Governance

TRYD has no governance token and no on-chain vote over the reserve. Holders cannot vote to change what backs their claim, which is the point.

Parameters that are governed — bridge rate limits, route additions, fee changes within a published band, and treasury spending — are proposed publicly, held for 48 hours in the timelock, and executed by the multisig. Every proposal, its calldata and its execution hash are published in the changelog.

Fee changes outside the band, reserve composition changes, and any change to the 650,000,000 cap require a signed attestation of the new state before they take effect. The cap itself cannot be raised: the mint function no longer exists on any deployment.

Glossary