Docs vs app — The app shows live state — NAV, allocations, caps, role addresses. These docs explain mechanics, settlement, fees, and how to verify on-chain. Strategy narrative and discretionary methodology stay in the app (Overview); we do not repeat them here.
Where to find what
System map
Volta90 splits across two domains: a Lagoon async vault on Arbitrum (shares, USDC flows, settlement) and a discretionary book on Hyperliquid (strategy capital, marks). One 3-of-6 curator multisig bridges them for NAV and settlement — it does not place Hyperliquid orders.
The curator Safe posts NAV via
updateNewTotalAssets and signs settlement on-chain — it holds no Hyperliquid order keys. Settlement batch detail: claimSharesOnBehalf / claimAssetsOnBehalf — see Automatic claims.
Three separate flows
Capital movement, NAV posting, and trade execution are not the same pipeline. Conflating them is the main source of confusion for new LPs.1 — Capital (USDC ↔ VLT90)
Whitelist → approve USDC →requestDeposit queues until epoch close → settlement mints VLT90. Redemptions mirror the path: requestRedeem → burn at closing NAV → USDC claim. No instant mint or exit. Full walkthrough: Mint & redeem · cadence: Epoch & settlement.
2 — NAV (reconciliation → on-chain)
Before each settlement, Volta90 reconciles Hyperliquid balances and open positions with Arbitrum-side cash into one gross-assets figure. The curator multisig posts that total viaupdateNewTotalAssets / settlement calls; Lagoon derives per-share NAV, mint/burn, and fee dilution from protocol rules. Formula and what is included: NAV & valuation.
3 — Trading (off-chain venue)
Order placement and book management run on Hyperliquid — outside Lagoon ABI surface. PnL shows up in the reconciled gross figure at settlement, not as on-chain trade receipts. Discretionary context (regimes, conviction, caps vs live book): Overview · static universe reference: Trading universe.Custody & trust boundaries
VLT90 is a bearer share in your wallet. USDC for pending deposits sits in the Lagoon contract escrow until settlement or cancellation. The operator cannot bypass Lagoon flows to seize shares offline.Settlement is source of truth — Closing NAV is produced in Volta90’s stack (RPC, Hyperliquid APIs, human review), then signed on-chain — not an external oracle feed. A stale dashboard or subgraph does not change the value used for settlement. See NAV & valuation and Risks & security.
Async vault (ERC-7540) in brief
Volta90 uses Lagoon’s async pattern (ERC-7540 wrapping ERC-4626): deposits and redemptions are requests batched at a single weekly NAV, not synchronous swaps. That trades instant liquidity for fair batch pricing and operational room to reconcile a two-domain book.- Pending deposit — USDC locked in vault escrow; no yield while queued; cancellable before epoch close
- Pending redemption — shares locked in silo, economically exposed until settlement; cancellable before epoch close (
cancelRequestRedeem, V0.0.6) - Single settlement price — all requests in an epoch clear at the same NAV/share — see Epoch & settlement
Quick reference
What Volta90 is not
- Not autonomous AI trading — algorithms surface context; a human validates and sizes every live allocation (Overview)
- Not instant liquidity — async weekly settlement by design; see Mint & redeem
- Not a Chainlink-style oracle vault — closing NAV is internally reconciled and curator-signed; see NAV & valuation
- Not on-chain tactical governance — VLT90 is economic exposure only; protocol roles sit with the multisig — Roles
- Not a static index — weights are discretionary within published caps; live book: Allocations · universe: Trading universe
Suggested reading order
1
This page
Map the system and custody boundaries.
2
Epoch & settlement
Epoch & settlement — weekly cadence and pending-state rules.
3
Mint & redeem
Mint & redeem — practical deposit and withdrawal path.
4
Fees
Fees — management dilution and performance hurdle.
5
On-chain data
On-chain data — contracts, subgraph, and API surfaces to audit.