# Policy

IND features policy constants that allow us to optimize the system.

## **Bonds**

The BCV allows us to scale the rate at which bond premiums increase. A higher BCV means a lower discount for bonders and more protocol profit. A lower BCV means a higher discount for bonders and less protocol profit. The vesting term determines how long it takes for bonds to become fully redeemable. A longer term means lower inflation and lower bond demand.

## **Sales**

The DCV allows us to scale protocol buy pressure up or down. A higher DCV means more buy pressure and higher deflation. A lower DCV means less buy pressure and a weaker floor.

## Treasury

Profit Allocations are the only treasury variable. This allows us to choose who receives from the protocol.

## Staking

There are no variables in the staking contract. **IND** and staked **IND** are always redeemable 1:1, and profits are always distributed equally through rebase.

