01 · ENROLL
Dividend Program
Enroll VAULT, receive sVAULT, compound every distribution automatically. Nothing to claim. Redemption is 1:1 and immediate — the floor never moves.
02 · BOND
Equity Bond Desk
Subscribe in USDG for VAULT notes at a discount to market, floored at NAV so every sale grows backing. Notes vest over two days.
03 · LOOP
Loopback Credit
Borrow USDG against enrolled shares, buy more VAULT, enroll it — a Lombard leverage loop in a single transaction, with a live health meter.
04 · BACKING
The Reserve Cap
The distributor can never mint past the treasury's risk-free value. The printing press is wired to the vault door — enforced every epoch, by the contract, not an admin.
Q1What is NAV?+
Net Asset Value — the risk-free treasury value divided by total supply, expressed per token. It is the backing floor: every VAULT is guaranteed to be worth at least 1 USDG of reserves, and NAV only rises as bonds add to the treasury. It is both the value you redeem against and the reference point the entire dividend policy is measured from.
Q2What is the premium, and why does it matter?+
The premium P = market price / NAV — how much more the market pays than the backing. It is the only input to the dividend. At or below NAV (P ≤ 1), the dividend is zero. At a 1.75× premium or higher, it pays the full rate. The fund emits exactly the confidence the market extends to it.
Q3How are dividends paid?+
Enroll VAULT to receive sVAULT. Every 8-hour epoch, the distribution compounds directly into your balance — nothing to claim, ever. The rate follows R_MAX × clamp((P − 1)/(K − 1), 0, 1), with R_MAX 0.45% per epoch and K = 1.75. Three distributions a day.
Q4Can I redeem at any time?+
Yes. Redemption between sVAULT and VAULT is 1:1 and immediate at Shareholder Services — no lockups, no queues, no notice period. The floor is always there.
Q5How does the Bond Desk work?+
Subscribe in USDG for VAULT notes priced at a discount to market, with a hard floor at NAV — bondPrice = max(market × (1 − discount), NAV). Because the floor is NAV, a bond can never sell VAULT below its existing backing, so every subscription is accretive: the floor only rises. Notes vest over two days.
Q6What is Loopback?+
The Lombard credit facility. Borrow USDG against your enrolled sVAULT — up to 50% of collateral value — buy more VAULT, and enroll it, all in one transaction. The result is leveraged exposure to the dividend, shown live in the simulator with an effective-APY readout and a health/headroom meter. Leverage magnifies gains and losses alike.
Q7What actually backs the token?+
USDG reserves held in the treasury. The reserve cap means the distributor can never mint past the treasury's risk-free value — the emissions are wired to the backing, enforced every epoch by the contract, not by any administrator. No admin can alter the epoch, R_MAX, K, the source pair, or the fee split.
Q8Which chain, and how do I get USDG?+
Vault Capital lives on Robinhood Chain. Acquire USDG on Robinhood Chain through the Robinhood app or Wallet, or by bridging, then connect an EVM wallet at Shareholder Services to purchase, enroll, bond, and loop.
// Prospectus — Excerpt §2
DOC · VLT-PROSPECTUSEMISSIONS POLICY
rate = R_MAX × clamp((P − 1) / (K − 1), 0, 1). At or below NAV the dividend is absolutely zero. At a 1.75× premium it pays the full 0.45% per epoch. No admin can alter the epoch, R_MAX, K, the source pair, or the fee split. The only way to change the dividend policy is to deploy a different fund.
— filed on Robinhood Chain · immutable at deployment