RFV and TPI

Key metrics in the Vapor Protocol.

Understanding Risk Free Value

Risk Free Value (RFV)

The Risk Free Value is a metric that measures all asset holdings of the Vapor treasury at a given time, including volatile assets. The RFV metric provides the full, known value of VAPOR's backing in terms of the US Dollar.

Understanding Treasury Price Index

Treasury Price Index (TPI)

Inspired by TempleDAO's metric, the Treasury Price Index is a metric used to measure the stablecoin holdings in the Vapor treasury. TPI closely tracks the stablecoin backing per VAPOR, volatile assets aren't included in TPI.

Instead of being pegged to an external inflation measure that has little correlation to actual holdings (like the Consumer Price Index), TPI is indexed to the protocol’s own Treasury holdings. In simple terms, what this means is that as the Vapor treasury grows, so does the TPI.