Monitoring your allocations
The platform shows you what is happening. Daily.
What monitoring means here:
You are not watching trades execute or positions open and close.
You see the result of the strategy on your capital. NAV per share, updated daily, with history. The asset manager runs the strategy. The custodian holds the assets. The oracle calculates NAV. The platform displays everything.
Your job is to be informed, not to manage.
Three pages:
Your dashboard: portfolio view, what each number means, strategy-level vs portfolio-level.
Daily reporting: the daily report you receive, including NAV change, position composition, and operational notes.
Understanding NAV: how NAV is calculated, the high water mark, and reading NAV charts honestly.
What you will not find:
A live trade feed. Asset managers do not share position-level activity. They share the aggregate result through NAV.
Partly IP protection; a strategy's alpha is in its trades. Partly noise reduction; watching trade-by-trade is information without insight.
The platform shows you the result. Honestly. Daily. With history.
What to actually look at:
Most allocators check weekly or monthly. Some check daily.
The most informative views:
- NAV per share over time: not just today's number. The shape over a month, quarter, or year tells you far more than a single day.
- Drawdown depth: how far below the previous peak. More useful than headline returns for evaluating risk.
- Cumulative fees: platform, insurance, and performance fees accrued over your position's lifetime. The net performance you see is real.
- Asset manager notes: where the manager has shared commentary on recent performance (voluntary).
Your dashboard:
The default view when you log in.
Structure:
Three layers.
Top: portfolio summary. Total NAV across all allocations, gain/loss since inception, gain/loss in the last 24 hours, portfolio NAV chart.
Middle: your positions. One card per strategy. Each shows: strategy name, asset manager, share count, current value at latest NAV, gain/loss, and strategy classification badge (market neutral, arbitrage, directional, multi-strategy).
Bottom: operations panel. Pending allocations awaiting settlement. Pending redemption requests. Next settlement and redemption dates. Recent activity.
Top numbers explained:
Total NAV. Current stablecoin value of all your shares, at the latest oracle update.
Gain/loss since inception. What you allocated minus current value, adjusted for redemptions received. Your real return, net of fees.
24-hour change. Change from the previous day's closing NAV. Useful for tracking, not for decisions.
Position cards:
Share count. Changes only when you allocate more or redeem. Value per share is what fluctuates day to day.
Current value. Share count times current NAV per share.
Gain/loss. Current value minus what you allocated, adjusted for partial redemptions. Absolute and percentage.
Click a card to open the strategy detail view: full NAV history, asset manager info, fees accrued, manager notes.
Operations panel:
Pending allocations. Not yet settled. Expected settlement time shown.
Pending redemptions. Submitted for next monthly window. Window date shown.
Recent activity. Allocations, redemptions, NAV restatements, operational notices.
Next settlement. Daily settlement event time.
Next redemption. Monthly window date.
Mobile vs desktop:
Desktop is denser. Mobile condenses into a single scrollable column with collapsible sections. Allocation and redemption flows work identically. Wallet signing through MetaMask Mobile or your embedded wallet.
What is not shown:
Open positions. Trade-by-trade activity. P&L attribution. Specific instruments held. Reasons in above.
Notifications:
Opt into email or push for material events: allocation settled, redemption window approaching, NAV restatement, asset manager note published. Default settings are conservative. Adjust in settings.
Daily reporting:
Each day, the platform produces a fresh report of your positions.
What is in a daily report:
Five sections.
Headline. Total portfolio NAV, 24-hour change, change since inception, one-sentence summary.
Per-strategy breakdown. Day's NAV per share, change from previous day, your share count, current value.
Activity. Anything that happened in the last 24 hours: allocations settled, redemption requests, NAV restatements, asset manager notes.
Fees accrued. Platform and insurance fees for the day. Performance fees crystallised (if a crystallisation event occurred).
Operational notes. Custodian status changes, NAV oracle restatements, changes to a strategy's terms. Unusual events; most reports have nothing here.
Delivery:
Dashboard: always. Available regardless of email settings. Scroll back through 90 days.
Email: default opt-in. Daily summary after the settlement event. Opt out or switch to weekly/monthly.
Webhook: on request. Structured JSON for your own systems (treasuries, family offices, accounting software). Contact the platform team.
When it generates:
Immediately after the daily settlement event. That moment's NAV is the closing NAV. All day's activity is reflected. Dashboard updates in real time as data computes. Email queued and delivered within thirty minutes.
Reading a report you do not understand:
Most reports are quiet. NAV moves a fraction of a percent.
If NAV moved more than 2% in a day, the asset manager will usually have posted a note. Check the strategy page.
If a fee crystallisation happened, the report shows gross fee, high water mark before and after. Detail in Performance fee mechanics.
If a NAV restatement was issued, the report explains why. Restatements happen when an upstream source publishes a corrected figure. Share counts and balances are recalculated. You have ten business days to query a restatement before it is final.
Honesty as a design choice:
Reports include drawdowns, declines, and unfavourable comparisons. No selective reporting. No reframing language. The number is the number. The asset manager provides context if they choose.
Daily, not real-time:
No intraday position changes or real-time P&L. Asset managers do not want open positions broadcast, and watching fluctuations between NAV updates does not help you.
If something material happens between updates (a custodian issue, a significant strategy event), the platform issues an out-of-cycle notice through your configured channels.
Understanding NAV:
The single most important number on the platform.
What NAV is:
Net Asset Value, per share.
A strategy vault holds stablecoins in the custody account, open positions (long and short futures, spot holdings), and accrued amounts (funding payments, uncristallised fees). NAV = total stablecoin value of everything in the vault / shares outstanding.
Strategy performs well: NAV per share rises. Strategy performs badly: NAV per share falls.
Who calculates NAV:
The platform's NAV oracle. Not the asset manager.
The value is read from Binance (cash and the market value of open positions in the SMA), cross-checked against custody-confirmed balances, and adjusted for accrued fees and pending adjustments. Before that figure is published, it is independently verified two ways: a 16-node Chainlink consensus mechanism, and a human reviewer. Both can only approve or reject the NAV; neither can edit or influence the value. If either rejects, it is not published.
The asset manager has no ability to mark their own performance. The verified figure is the source of truth.
The oracle in practice:
A deterministic computation. Same inputs, same output. The platform publishes the inputs used at each calculation on the strategy detail page, so NAV is auditable.
The high water mark:
The highest NAV per share ever recorded at a performance fee crystallisation event. Only changes when a new high is recorded at crystallisation.
Performance fees only accrue on gains above the high water mark.
Example: NAV rises from $1.00 to $1.10, performance fee crystallises, high water mark resets to $1.10. Strategy must beat $1.10 before the next performance fee accrues. If NAV falls to $1.05 then recovers to $1.09, no new performance fee, because it is still below the mark.
Standard fund-management practice. Protects you from paying performance fees on the same gains twice.
Reading NAV history honestly:
Three things worth looking at.
The trend. Is NAV generally rising, flat, or falling? The slope tells you the rate of return.
The drawdowns. Peak-to-trough dips. How deep? How long to recover? Shallow, short drawdowns are easier to hold through than deep, prolonged ones, even if headline returns are similar.
Behaviour during regime changes. How did the strategy handle the last major correction? The last sustained rally? A strategy that has only operated in one market type has a less informative track record.
NAV is per-share, not absolute:
Common confusion. NAV per share is independent of how many people are allocated.
New allocator deposits and receives new shares. NAV per share is unchanged. Your share count is unaffected by others arriving or leaving.
When NAV is restated:
Sometimes the oracle receives corrected data after the fact: a restated custodian balance, a revised settlement price, a timing error.
The platform issues a restated NAV. Share counts, crystallised fees, and reports are recalculated. Any over- or under-payment is settled on-chain at the next event. Restatements are rare and documented openly. You have ten business days to query before it is final.
Where to see NAV:
Three places.
- Your dashboard: latest NAV per share for each strategy you hold.
- Strategy detail page: full NAV history, chart, drawdown analysis, key statistics.
- The vault contract on Base: latest NAV from the on-chain source of truth.
The first two are derived from the third. If anything looks wrong on the dashboard, the on-chain figure is canonical.