What it does
A tokenised fund still prices like a fund. Orders arrive before a cut-off and execute at the next valuation point, at a price nobody knows yet — forward pricing exists so an investor cannot subscribe or redeem at a price they already know to be stale, at the expense of everyone who stays. This module is designed to run that cycle on-chain: hold the cut-off, strike the NAV from the portfolio, accrue management and performance fees into the price rather than into the token count, mint or burn units at the struck price, and apply notice periods, gates and in-kind redemption when liquidity requires them. Data Oracles publishes the resulting NAV; this module produces it. In development.
How it works
NAV & Dealing is the fund's clock. Independent Valuation supplies the marks, this module strikes the price and deals around it, and Asset Lifecycle Management records the resulting units on the register.
Select a step to replay it. Hover to pause.
Step 1 of 3: Cut-off. Orders received before the deadline are queued for the next valuation point, at a price not yet known.
Key capabilities
Cut-offs and forward pricing
Orders execute at the next valuation point, so nobody deals on a price they already know is stale.
Fee accrual in the price, not the balance
Management and performance fees move the NAV per unit; the number of units a holder owns does not change unannounced.
Mint and burn at the struck price
Subscriptions and redemptions settle against the published NAV rather than an estimate.
Gates, notice periods and in-kind
Liquidity management tools exist in the contract, so they apply themselves under stress instead of depending on a decision made at speed.