The primitives that power subscriptions, redemptions, pricing, and permissions.
Core concepts define how funds work at the protocol level. They describe how ownership is represented, how the fund is valued, and how users enter and exit. They also explain how operators can act on behalf of a fund without custody. These concepts apply across all funds, regardless of strategy or denomination. If you’re integrating, these pages clarify what the onchain contracts guarantee and what they do not.
In this section, you’ll find:
How shares represent pro-rata ownership and how supply changes.
How NAV is computed across chains and used for pricing.
How subscription and redemption requests work and why they are request-based.
How operator permissions are modelled and enforced.
How bridging is handled and how “assets in transit” affect accounting.
