Token Price

Token Price

Exchange Rate

The HYBOND exchange rate mirrors the BNY fund's Net Asset Value (NAV) exactly:

exchangeRate = bny_price * share_per_token_ratio

Where bny_price is the NAV of the BNY Global Short-Dated High Yield Bond Fund, provided by BNY daily via electronic delivery.

An off-chain keeper bot automatically publishes and updates the exchange rate on-chain on a daily basis.