Token Specification

JVAULT Token Details

Property	Value
Name	JVAULT
Symbol	JVAULT
Decimals	18
Standard	ERC-20
Network	Base L2
Contract	0x... (TODO: Deploy address)

Price Per Share Formula

The JVAULT token price (NAV) is calculated as:

Price Per Share Formula

NAV = Total Vault Value / Total JVAULT Supply

Where: Total Vault Value = (USDC Reserve + MM Position Value) - Pending Withdrawals

Example Calculation

Example Calculation

Scenario:

• Reserve: $100,000 USDC
• MM Positions: $400,000 (current value)
• Pending Withdrawals: $50,000
• JVAULT Supply: 450,000 tokens

NAV = ($100,000 + $400,000 - $50,000) / 450,000 NAV = $450,000 / 450,000 = $1.00 per JVAULT

Token Mechanics

Minting (Deposits)

depositFee = usdcDeposit * 0.0025  // 0.25% USDC to team
netUSDC = usdcDeposit - depositFee
userReceives = netUSDC / currentNAV

Burning (Withdrawals)

usdcWithdraw = jvaultBurned * currentNAV * (1 - 0.0025) // 0.25% fee remains in vault
// This increases NAV for remaining holders

NAV Updates

• Updated every Sunday 07:00 UTC+7
• Reflects market-making performance
• Includes realized gains/losses

Share Token Properties

• Transferable: Yes, can be traded on DEXs
• Divisible: 18 decimals for precision
• Redeemable: Only during Sunday withdrawal windows
• Interest-Bearing: Value grows with vault performance

Arbitrage Protection

If JVAULT trades at premium/discount to NAV:

• Premium → Users can deposit USDC, get JVAULT, sell for profit
• Discount → Users can buy JVAULT, redeem for USDC profit

This mechanism keeps market price close to NAV.

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