NAV & Valuation

How the Net Asset Value is computed and submitted on-chain.

The Net Asset Value (NAV) per share is the key metric governing all deposits, withdrawals, and fee calculations in Volta90. It reflects the total value of the vault's assets divided by total outstanding shares.

NAV Components

Cash on Hyperliquid — USDC balance in the trading account
Open positions (mark price) — Unrealized PnL across all active perp and spot positions
Cash on Arbitrum — USDC held in the vault not yet bridged to Hyperliquid
Accrued management fee — Subtracted from total assets before computing NAV per share

Valuation Provider

An authorized on-chain address (the valuation provider) submits NAV updates to the vault contract. This address is set by the vault admin and can be rotated. The valuation provider is accountable for accurately reporting all positions at current mark price.

Oracle Risk

NAV is submitted by a trusted party, not computed fully on-chain. An inaccurate or malicious submission could cause unfair settlement. See Risk Factors for a complete discussion.

NAV Formula

NAV_per_share = Total_Assets / Total_Shares

Total_Assets = USDC_on_Hyperliquid
             + Unrealized_PnL (mark price)
             + USDC_on_Arbitrum
             - Accrued_Management_Fee