Continuous Deposits & Withdrawals
The Real-World Scenario
Unlike simple examples, real vault operations involve continuous user activity throughout the week. This creates complexity in NAV calculations.
Typical Week Timeline
Typical Week Timeline
Monday 07:00 UTC+7: Week Starts ├── Current: 1M JVAULT, $1M portfolio, NAV = $1.00 ├── Trading begins with 80% capital │ Tuesday: New deposit $200k ├── Mints: 200k JVAULT at NAV $1.00 ├── Total: 1.2M JVAULT, $1.2M portfolio │ Wednesday: Withdrawal request 100k JVAULT ├── Tokens locked (no longer earn yield) ├── Portfolio continues trading │ Thursday: Portfolio gains to $1.3M ├── Active JVAULT: 1.1M (excluding pending withdrawals) ├── Effective NAV: $1.3M ÷ 1.1M = $1.18 │ Saturday: Another deposit $100k ├── Mints: $100k ÷ $1.18 = 84.7k JVAULT ├── Final: 1.185M active JVAULT │ Sunday Settlement: Final calculations
Settlement Calculations
Step 1: Close Trading Positions
Step 1: Close Trading Positions
Final Portfolio Value: $1.4M (including Saturday gains) Pending Withdrawals: 100k JVAULT (locked since Wednesday) Active JVAULT: 1.185M tokens
Step 2: Calculate Final NAV
Step 2: Calculate Final NAV
Settlement NAV = Final Portfolio Value ÷ Total JVAULT Supply Settlement NAV = $1.4M ÷ 1.285M = $1.089
Note: Use TOTAL supply including pending withdrawals for final NAV
Step 3: Process Withdrawals
Step 3: Process Withdrawals
Withdrawal Amount = 100k JVAULT × $1.089 = $108,900 Fee (0.25%): $108,900 × 0.0025 = $272.25 → stays in vault User Receives: $108,627.75 Burn: 100k JVAULT tokens
Step 4: Update for Next Week
Step 4: Update for Next Week
Remaining Portfolio: $1.4M - $108,627.75 + $272.25 = $1,291,644.50 Remaining JVAULT: 1.185M tokens Starting NAV for next week: $1,291,644.50 ÷ 1.185M = $1.090
Key Principles
🎯 NAV Timing Rules
- Deposits: Get JVAULT at current NAV when transaction confirms
- Withdrawals: Locked immediately, paid at Sunday settlement NAV
- Yield Earning: Only unlocked JVAULT tokens earn yield during the week
- Final NAV: Calculated using total supply including pending withdrawals
📊 Mid-Week NAV Tracking
Mid-Week NAV Tracking
Effective NAV = Current Portfolio Value ÷ Active JVAULT Supply
Where:
- Current Portfolio Value = Live trading positions + reserves
- Active JVAULT Supply = Total - Pending Withdrawals
Important: Mid-week NAV is for deposit pricing only. Final settlement uses total supply.
Example Scenarios
Scenario 1: Heavy Deposit Week
Scenario 1: Heavy Deposit Week
Start: 1M JVAULT, $1M portfolio, NAV = $1.00 Mid-week deposits: $500k total Trading gains: +$200k
Settlement:
- Portfolio: $1.7M
- JVAULT: 1.5M tokens
- NAV: $1.7M ÷ 1.5M = $1.133
Scenario 2: Heavy Withdrawal Week
Scenario 2: Heavy Withdrawal Week
Start: 1M JVAULT, $1M portfolio, NAV = $1.00 Withdrawal requests: 300k JVAULT (locked) Trading gains: +$100k
Settlement:
- Portfolio: $1.1M
- Total JVAULT: 1M tokens (for NAV calc)
- Active earning: 700k JVAULT
- NAV: $1.1M ÷ 1M = $1.10
Withdrawals:
- Amount: 300k × $1.10 = $330k
- Fees: $825 stays in vault
- Users get: $329,175
- Remaining: 700k JVAULT, ~$771k portfolio
Technical Implementation
Real-Time NAV Updates
- Portfolio value updates continuously during trading
- Deposit pricing uses live mid-week NAV
- Withdrawal amounts finalized only at Sunday settlement
Yield Distribution
- Only active (non-locked) JVAULT earns yield during the week
- Locked withdrawal requests don't participate in mid-week gains/losses
- Fair distribution based on active participation
Common Questions
Q: If I deposit mid-week during gains, do I get the old NAV? A: No, you get JVAULT at the current NAV when your deposit confirms.
Q: Do pending withdrawals earn yield until Sunday? A: No, tokens are locked immediately when withdrawal is requested.
Q: How is the final NAV calculated with varying deposits/withdrawals? A: Final portfolio value ÷ total JVAULT supply (including pending withdrawals).
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