Protocol

NAV Issuance Module

The NAV Issuance Module enables issuance and redemption with any valid ERC20 token or ETH (reserve assets) if allowed by the manager. The sender receives a proportional amount of SetTokens on issuance or ERC20 token on redemption based on the calculated net asset value using oracle prices. The manager is able to enforce a premium / discount on issuance / redemption to avoid arbitrage and front-running when relying on oracle prices. Managers can also charge a fee (denominated in the reserve asset).