# Shade Bond Issuance

**URL:** <https://forum.shadeprotocol.io/t/shade-bond-issuance/76>\
**Category:** Shade's Products\
**Created:** [June 23, 2022, 3:33pm UTC](https://forum.shadeprotocol.io/t/shade-bond-issuance/76 "2022-06-23T15:33:40Z")\
**Posts on this page:** 1\
**Showing post:** 23

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**Author:** ![Ranger\_Ranger](https://yyz2.discourse-cdn.com/flex030/user_avatar/forum.shadeprotocol.io/ranger_ranger/32/51_2.png) [@Ranger\_Ranger](https://forum.shadeprotocol.io/u/Ranger_Ranger)\
**Post date:** [July 7, 2022, 1:58pm UTC](https://forum.shadeprotocol.io/t/shade-bond-issuance/76/23 "2022-07-07T13:58:14Z")

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Starting supply is 10m, but new coins can be create by bonds. This is an interesting mechanic because someone gives 1 SHD of Another Asset, and gets 1 SHD Back. So what happens in that case? Well we create a new Shade, but the protocol now owns a Shade worth of assets. This means that the Book Value of your prexisting Shade goes up. Right now technically it’s 0. We have no or few uncorrelated assets. So in a sense you have some inflation but its captured by equal value and raises everyone else’s book value.

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