7. Settlement and Equilibrium

At each liquidity event, RAVA receives cash from RWA holders.

Let Sₜ denote the cumulative realized settlement pool.

The settlement for an individual rFund position at time t is:

    ΔSₜ = α(Iₜ − Iₜ₋₁)

where α represents the notional exposure of that contract.

All active rFund positions are settled in USDC using this pool.

Because settlement draws directly from distributed proceeds rather than internal liquidity, every payment is grounded in realized performance.