Featured guide · Vaults
How vault-funded lending works
See how capital moves from a vault into loans, repayments, and loss allocation, with each outcome attributed to the capital that funded it.
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Credit recovery rights and responsibilities.
Review recovery authority, investor protections and beneficiary records to understand who can act on impaired credit and receive later proceeds.
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Why credit needs operating controls.
Review assigned permissions, draw limits, valuation requirements and withdrawal queues to understand which facility actions can proceed under governing terms.
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Recovery rules at origination.
Review the valuation requirements, recovery authority, sale conditions and investor loss allocation recorded at origination before a borrower draws funds.
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When can investors redeem.
Follow available cash, the withdrawal queue, and the unpaid claim before evaluating a vault exit.
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More articles.
Collateral 03 OCT 2026
Tokenized assets as collateral.
A lender needs more than a token price. Use this decision tree to examine holder rights, valuation, transfer restrictions, and the route for realizing collateral after default.
Borrowing 03 OCT 2026
The cost of borrowing.
An asset's income or price gain is only one side of a leveraged position. Calculate debt cost, fees, loan-to-value, and the unwind before deciding whether added exposure is worthwhile.
Credit design 03 OCT 2026
Credit rates and liquidity.
A manager's pricing, capacity, and exit choices affect different participants. Use a simple facility scenario to see why the three decisions must be evaluated together.
Governance 03 OCT 2026
Who can change a credit facility.
The initial term sheet is only part of the decision. Trace who may propose, approve, execute, and disclose changes to collateral, valuation, limits, rates, and exits.
Collateral risk 03 OCT 2026
Collateral outside market hours.
A loan can remain open while the underlying stock market is shut. See how an old price, accruing debt, token transfer rules, and the next market opening affect a collateral decision.
Integration 03 OCT 2026
When is a credit action complete.
A wallet receipt proves an execution event, but a business workflow needs the new facility state to reach the product. Trace the steps from chain confirmation to a visible record.
Vault standards 03 OCT 2026
Vault standards and withdrawals.
The share interface, asynchronous request lifecycle, and a vault's actual cash policy are separate integration questions. Compare the methods before promising a withdrawal journey.
Capital structures 03 OCT 2026
Senior and Junior losses.
A tranche label is only meaningful alongside the cash and loss rules. Follow a loan shortfall through Junior and Senior capital, then separate later recovery paths.