Subscriptions

A subscription is a user’s request to enter the fund by depositing an approved asset (for example USDC) in exchange for newly minted shares priced at the current NAV.

Subscription requests are recorded onchain and processed by authorised operators. Requests are executed as long as their parameters fall within the defined thresholds, with the share price being the critical constraint. Upon approval and execution, the deposited assets are transferred into the fund’s portfolio Safe.

This mechanism ensures that users receive shares at fair, NAV-aligned terms, while allowing the fund to batch requests, control execution, and actively manage inflows from a risk and liquidity perspective.