Next NAV - 09:00 UTC
TVL (Total value locked)
Allocation across Investment Types
Allocation across Categories
Allocation across Chain
Management Fee (Annual)
Performance Fee (Annual)
Prices Updated At Block
Bastion trading is a leading crypto trading firm focused on arbitrage, quantitative and volatility trading strategies. Teragon boasts a team of financial and trading veterans from JPMorgan, UBS, Morgan Stanley and Optiver. Masahide Hoshi, aka TheSkyhopper, is a founding partner who is well known for his work in DeFi with over 100mm AUM during his time as a Treasury Manager at Wonderland.
The purpose of this vault is to maximize yield but with diversification. This vault might be how tradFi may look at a High Yield bond ETF. The idea is that with ample diversification, the vault can capture outsized yields offered by the not-so-safe farms while avoiding concentration risk on a single protocol. The vault will also use Options strategies opportunistically for yield enhancement.
What is the TMV-DEGEN token?
The TMV-DEGEN token ("Teragon Managed Vault – Degen”) represents a proportional share of assets held by the vault.
What Strategies will be implemented?
The vault will diversify into multiple high-yield pools (+20% APY), however allocation percentages are at the discretion of the vault manager (Bastion Trading)
Questions regarding daily NAV
What is it?
NAV stands for “Net Asset Value” and is published daily by the Vault Manager. It represents the fair value of the TMV-DEGEN token (each representing one share of the managed vault) at the time of publishing.
When is it published?
Vault NAV is published at 09:00 UTC Monday to Friday. No NAV is published on the weekend.
Why is it necessary?
After users deposit, they are entitled to TMV-DEGEN tokens pro rata of their deposit. To ensure each user receives the correct amount of vault shares, NAV is calculated off-chain and published to the vault contract.
Why is NAV calculated off-chain?
In the future, the vault will hold positions that have no on-chain price feed. These positions can range from locked SAFT agreements to active option strategies.
Are there any fees charged on the Vault?
The vault has zero subscription and management fee. The vault charges 10% performance fee annualy, 1% management fee annualy, and 0.5% redemption fee.
How are my deposits secured?
User deposits are stored in separate 2/3 Gnosis multisig contracts, on all supported chains. This means there are three eligible signers and two must sign for any transactions to take place. The signers are a combination of Bastion traders and Teragon team members to ensure appropriate handling of funds.
Has the protocol been audited?
Teragon Managed Vault contracts have not been audited yet. The product is still in alpha stage, please use at your own risk.
How can I withdraw my funds?
Users can queue or cancel previously queued redemption request for each epoch. Once epochs are settled, users can withdraw their share of the vault assets (settled in USDC) to their account. A redemption request for an epoch cannot be cancelled after the settlement is completed for that epoch.
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