The token
On its own, a strategy token is a plain Pons token. It becomes a strategy because of where Pons sends its creator rewards, and the token contract has no special code for that.
Supply
For a token launched through mystrat, Pons mints one billion at launch and places all of them on the curve; an attached token keeps the supply it launched with. There is no allocation for mystrat, the launcher or a team.
At graduation roughly 20.4% of the supply moves into the pool and roughly 8.2% into Pons' locker. No new tokens are ever minted, and every burn pass moves more of them to the dead address, where they stay. The strategy page shows the burnt share of supply.
Moving the token
Nothing restricts transfers. The token can be sent between wallets, held on a hardware wallet, or traded on any market someone opens for it.
The vault pays for that freedom. Pons collects the creator tax only on trades on its own curve and pool, so a trade elsewhere earns the vault nothing, and the more trading leaves Pons, the less the strategy has to spend. The mystrat app itself trades only on Pons.
The burn
Burning follows shelf sales: the vault spends the sale on the token and parks the tokens at the dead address. Holders see the burn as a run of small buys spread over minutes or hours.
Price
Trading alone sets the price, first on the curve and after graduation in the pool. There is no oracle and no peg, and the pool opens at the price where the curve stopped, so graduation causes no jump.
The treasury does not hold the price up or down. A token can be worth less than its vault holds, or many times more.
What a holder gets
The vault's buying, and the tokens its resales remove from circulation. Holders get no part of the vault, no payouts, no redemption and no vote. See before you buy.