What one share represents.

The opening basket.

The sector totals are AI 30%, RWA 25%, DeFi 20%, Infrastructure 20% and Gaming 5%. Targets describe the composition the vault opened with on 21 September 2026. Actual weights drift as prices move; the holdings page reads them live.

Creation: assets into shares.

After the initial seed, the vault calculates the proportional amount of every held asset needed for a requested number of shares. It uses the current asset balances and existing shares, rather than pricing each asset to decide how many shares to issue.

1. The user sets maximum input amounts and a minimum acceptable share output.
2. The vault receives each asset and measures its actual balance increase.
3. The limiting asset determines the supported share amount. Under-delivery reduces the shares minted.
4. The creation fee is allocated in shares, and the remaining shares go to the recipient.

New investor shares require basket assets. Management and performance fees can also mint treasury shares through the separate fee mechanism.

Redemption: shares back into assets.

The withdrawal fee is transferred in shares to the fixed fee recipient. The remaining shares are burned, and the user receives the corresponding proportion of each vault asset. The user can specify minimum outputs. Normal redemption reads no oracle price and has no governance pause.

Entering with one token.

The ZapRouter is a convenience layer around the same vault functions. With supported liquidity routes, it exchanges USDG, ETH or another token into the required basket, then creates shares. It can also redeem and consolidate the received assets into one supported token or ETH.

The design limits spending and output, refunds leftovers and gives the router no privileged control over the vault. Pool liquidity, pool fees, gas and slippage still affect the result.

What the oracle does.

The oracle compares two time-weighted price routes for each asset: one via USDG and another via WETH. A time-weighted average uses observations over a window instead of one instantaneous pool price. The window is 30 minutes.

Registration is permissionless, but an asset must prove membership in the committed official-token list, pass a code check and have qualifying, live pool routes. The minimum observation capacity is 300; at least one route must have a pool fee of 0.3% or less. Registration alone does not add an asset to the basket.

Oracle values support setup and asset admission, valuation, rebalance limits and performance fees. An unhealthy oracle can stop price-dependent operations. Normal in-kind minting and redemption do not require an oracle price; management-fee accrual also remains independent of it.

Rebalancing within limits.

Anyone can propose a rebalance transaction. The contract decides whether it is allowed; the caller receives no special privilege or rebalance reward.

The contract also limits the trade to the correction needed, uses conservative ends of the oracle price ranges and pins route fee tiers to the validated routes. A final sweep of a retired holding can use a smaller trade to remove the remainder.

Add LP: SECTOR100 / USDG.

Open the Provider page and use Add liquidity to deposit SECTOR100 and USDG into the pair. Choose your deposit amount; the current pool price determines the required ratio of the two assets. Choose Single-sided (P to 10P) or Wide (P/20 to 20P), with an editable reference price and multiplier. The interface creates a position owned by your wallet. You can collect its accrued fees, remove part of the liquidity or close the position. Provider positions are separate from the permanently locked SharePoolLock position.

Single-sided uses existing SECTOR100 only; Wide may need one or both tokens. ETH and USDG conversion routes are available only when adding to legacy full-range positions. Your position earns a share of the pool fees according to its active liquidity; earnings depend on trading activity. The amounts you can withdraw change with trades and price movements.

Buy mints. Sell redeems and burns.

On the SECTOR100 Trade page, Buy acquires the required basket assets and mints new index shares. Sell redeems the shares: the fee is transferred in shares, then the redeemed portion is burned and its proportional basket assets are released. The router can settle the result in USDG or ETH.

Trading existing shares in a liquidity pool does not itself mint or burn them. Provider deposits existing tokens into Single-sided or Wide ranges. Legacy full-range positions retain conversion routes from ETH or USDG.

NAV per share values the basket behind a share. The website index level follows that NAV, rebased to 1,000 at inception. Pool price can differ from NAV, and route fees, liquidity and price impact affect the amount received.