Terminology
Key terms used throughout the Volta90 documentation.
| Term | Definition |
|---|---|
| NAV | Net Asset Value. The total value of all vault assets (positions + cash) divided by outstanding shares. |
| Epoch | A fixed weekly period after which all pending deposits and withdrawals are settled at the closing NAV. |
| VLT90 | The ERC-20 share token representing a proportional claim on the vault's assets. |
| Async Deposit | A deposit request queued for the next epoch settlement, rather than executed immediately. |
| Async Withdrawal | A withdrawal request queued for the next epoch, mirroring the async deposit mechanism. |
| HWM | High-Water Mark. The highest NAV per share previously recorded. Performance fees are charged only on gains above the HWM. |
| Whitelist | A list of addresses authorized to deposit into the vault, managed by the whitelist manager role. |
| Valuation Provider | The authorized address that submits NAV updates to the vault contract at epoch close. |
| Settlement | The process of converting pending requests into shares or USDC at the epoch's closing NAV. |
| ERC-4626 | A standard for tokenized vaults on Ethereum. Defines a common interface for deposit, withdrawal, and share accounting. |
| USDC | The denomination currency. All deposits, withdrawals, and fee calculations are in USDC. |
| Epoch Close | The moment an epoch ends. No new requests are accepted; the manager then updates the NAV to trigger settlement. |