Asset managers put up first loss capital. That attracts LP deposits. The vault buys RWA tokens at a discount when holders need to exit and recovers capital through issuer redemption or secondary markets.
Deposit, wait, buy the dip, recover capital.
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 redeems with the issuer or sells on secondary markets. The spread between cost and recovery is your profit. The manager's first loss capital absorbs any shortfall.
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 with subordinated protection. The manager's capital is first in line for losses. That brings in more LPs.
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.
The vault redeems or sells tokens. LPs earn their preferred return first. The manager earns a performance fee on the excess for providing first loss capital. Their tranche absorbs losses before LP capital is impacted.
Two vault structures. Different risk profiles, different pricing tiers.
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.
30 day token supply change. Measures outflow pressure. If holders are leaving, the discount widens.
Issuer instant redemption capacity. The sleeve fill ratio determines how quickly the vault can convert tokens back to USDC.
Pending redemptions relative to quarterly capacity. Longer queue means longer wait, wider discount.
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, run CVaR, and monitor onchain behavior like supply changes, queues, and liquidity. 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.