Guaranteed Liquidity
Continuous Risk Enforcement

The on-chain clearinghouse for tokenized assets. VaR oracles that output haircuts and discounts for any RWA.

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THE CORE

VaR Oracles for Any Tokenized Asset

We take messy real-world data and output clean risk parameters that protocols can consume.

MESSY INPUTS
Redemption schedulesGating provisionsNAV lagLegal complexityCredit spreadsMarket volatility
↓
VaR Oracle
Continuous computation
↓
CLEAN OUTPUTS
Haircut
For collateral valuation
Discount
For execution pricing

TWO OUTPUTS

When to Use Haircut vs Discount

Two values for two different scenarios. This separation is fundamental.

HAIRCUT
Always applied during clearing
Margin posted upfront
When
Every trade, every position, every time
Why
Even T+2 creates price, delivery, and operational risk
Example
$100M × 35% haircut = $35M margin
DISCOUNT
Only if settlement fails
Cost you hope to never realize
When
Clearing must replace, finance, or exit position
Why
Includes haircut + execution costs (slippage, impact)
Example
$100M × 42% discount = $58M exit

Haircut is insurance you always pay.Discount is the cost you hope to never realize.

EXAMPLE

Making the Unmarginable Marginable

How RAVA enables lending against gated private credit. Time-to-cash uncertainty gets priced, not ignored.

THE ASSET
Tokenized Credit Fund
NAV$100M
RedemptionMonthly, 30-day
GatingUp to 90%
SecondaryLimited
RAVA OUTPUT
Haircut
35%
$35M margin required
Discount
42%
$58M exit if needed

Asset becomes marginable because risk is quantified.

ASSET COVERAGE

Oracle Output Varies by Data Quality

The less data available, the wider the haircuts. Both haircuts and discounts scale with uncertainty.

1-5%
haircut
T-Bills / Liquid
Continuous pricing
5-15%
haircut
Credit Instruments
Daily/weekly pricing
15-30%
haircut
Structured Products
Periodic valuation
30-50%
haircut
Private Assets
Quarterly, long exit

The gap between haircut and discount widens as liquidity decreases.

PRODUCTS

Built on VaR Oracle Outputs

Applications that consume haircuts and discounts to enable new financial products.

Uses Haircut
Collateral Posting
Protocols accept tokenized assets as collateral using the haircut for proper risk treatment. Enables lending against previously unmarginable assets.
Uses Discount
Standing Bid
Guaranteed exit liquidity at the oracle discount price. Holders can always sell, even when markets freeze. RAVA commits capital as buyer of last resort.
Uses Haircut
Overnight Repo
Daily-repriced margin lending. Haircuts adjust continuously as conditions change. No more quarterly resets with hidden leverage buildup.

LIVE DEMO

Watch Risk Update in Real-Time

Haircuts adjust continuously as market factors change. Dynamic components can be hedged.

Asset NAV
$100M
Update in 5s
Static Component
5.0%
Credit Spreads
2.6%
Risk Free Rate
1.8%
Volatility
2.1%
Liquidity
1.5%
Total Haircut
8.0%
Collateral Value
$92.0M

Start Building with RAVA

Integrate continuous risk infrastructure into your protocol.

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