NAV

The Net Asset Value (NAV) is the total USD value of all assets held by the fund across every chain. It forms the basis for pricing shares and determines the amounts exchanged during subscriptions and redemptions, ensuring that all users transact at a fair and up-to-date valuation.

Each chain has its own NAV Calculator contract, which:

• Reads portfolio balances directly from token contracts or via curated balance oracles.

• Prices those balances using simple or composite price oracles.

• Produces a chain-local NAV value, normalised to 8 decimals.

An offchain NAV Worker aggregates these per-chain NAV values into a single global NAV.

This hybrid model combines transparent onchain valuation with consistent multichain accounting, ensuring that all share pricing is derived from accurate and verifiable NAV data.