Asset managers put up first loss capital. That attracts LP deposits. The vault uses that capital to buy RWA tokens at a discount when holders need to exit. Everyone earns the spread when tokens redeem at NAV.
Deposit, wait, buy the dip, redeem at par.
Deposit USDC into the vault. Your capital is pooled with other depositors. No lockup.
While waiting for sellers, your USDC earns 3 to 4% in tokenized treasuries.
Someone needs to sell their RWA tokens. The vault bids below NAV at a discount set by the risk oracle.
The vault sends tokens back to the issuer and gets full NAV. The difference between what it paid and what it got back is your profit.
The asset manager deposits capital that absorbs losses before LP deposits. That one thing makes everything else work.
The asset manager deposits subordinated capital into the vault. If the vault takes a loss, this tranche gets hit first.
Depositors see a vault where someone else loses money before they do. Same yield, less risk. Capital flows in.
More deposits means deeper liquidity. The vault can handle larger sells and more frequent exits.
When a holder needs out, the vault bids below NAV. The discount is set by the risk oracle, not the manager.
Tokens redeem at full NAV. The spread between the discount and par is split between LPs and the protocol. The manager earns on their first loss capital too.
Asset manager vaults have first loss protection and tighter pricing. The main vault has no first loss and bids wider.
The manager puts up first loss capital. LPs deposit on top. Tighter discount because the manager is on the hook first. Single asset per vault.
LP capital only. No first loss buffer. Widest discount to compensate. Covers every listed asset.
Four inputs feed the discount. The vault reads them and bids accordingly.
Each tokenized asset is mapped to publicly traded equivalents (BDCs, CEFs, mREITs) with decades of return history. The vault uses CVaR on the proxy basket to anchor the discount.
The vault monitors fund redemption queues and gates. Longer queue means more selling pressure, wider discount.
Cash reserves as a percentage of fund AUM. Lower buffer means the fund has less room to absorb redemptions, wider discount.
Onchain token supply changes. Sudden minting or burning indicates structural shifts, discount adjusts.
Your token has no secondary market. Your holders are stuck in redemption queues. RAVA builds the liquidity infrastructure so they can exit at a transparent, risk priced discount.
We map your token to a proxy basket and run CVaR. Your holders see a live, auditable discount. Not a black box.
Smart contracts, sell API, receipt tokens, onchain execution. Your holders sell through our app or you integrate the API.
Put up first loss capital. That attracts LP deposits on top. More capital in the vault means deeper liquidity for your holders.
Deposit USDC. Earn yield while you wait. Keep the spread when someone sells.