BOOZE
- Publisher
- U.S. Bureau of Labor Statistics (via FRED)
- Series
- FRED/BLS APU0000720311
- Document
- fred.stlouisfed.org/series/APU0000720311↗
- Cadence
- monthly (~15d lag)
convention: BLS Average Price, cost per 1 litre / 33.8 ounces, all sizes and any origin, U.S. city average. A dollar level, not an index. Wine is the only alcohol category BLS publishes an average price for; there is no APU series for distilled spirits, which is why the previous CPI peg was retired rather than corrected in place.
You can burn BOOZE and take USDC at the oracle price, straight from the redemption vault above. No counterparty, no spread. It is bounded by what the vault holds, which is what buyers paid in — so a redemption larger than the vault fails outright rather than filling you at a worse price.
The keeper also quotes bids on this hub’s pool just under the oracle price, funded from pool fees and the protocol’s share. When the vault cannot cover a redemption, that pool is where the trade goes.
Separately, the redemption vault above holds the USDC that buyers paid in. Coverage is that vault measured against what buying back every circulating BOOZE at the oracle price would cost. At rest it sits at 100%; it falls when BOOZE rises, because the same dollars now owe more.
Both are finite. Coverage above is the vault measured against what redeeming every circulating BOOZE at the oracle price would cost — it is the number that tells you whether a redemption will work right now. After a large upward move in the commodity it will not cover everyone, and the people who redeem first do best. Details.