// Docs

Shares & NAV

NAV is the total value of the vault's holdings. Share price is NAV divided by shares outstanding. Everything else is bookkeeping around those two numbers.

How NAV is computed

totalAssets = idleStable
            + lendingBalance      // principal + accrued interest
            + basketValue         // Σ position × oracle price

sharePrice  = totalAssets / totalSupply

Equity positions are marked with an oracle. If a price feed goes stale, the paths that depend on it refuse to run rather than trading on a number nobody trusts.

Reading your position

Your share count never changes on its own — it moves only when you deposit or redeem. Returns show up as a rising share price. If your balance is unchanged and your dollar value went up, that is the vault working.

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