Shares
A deposit mints shares, not a fixed claim on a dollar amount of the underlying. Each share is a proportional slice of fund holdings. Your share count does not change on its own; price per share moves as the fund earns or loses. Pricing convention (18-decimal scale):price is asset-per-share. If one share is worth 1.05 USDC, depositing 105 USDC mints 100 shares. Redeeming those 100 shares later at 1.10 USDC returns 110 USDC before fees.
Why batches
An automated vault can price instantly when every position is readable on-chain. A Red Potion fund often cannot: value may sit off-chain, in custody, or on another chain. Time is split into batches with a cutoff. While a batch is open, deposits and redemptions queue into it. After cutoff, a reporter submits the NAV price. After a mandatory review delay, an operator accepts the report. Acceptance settles every request in that batch at that price in one transaction. Consequences:- Same price for everyone in the batch. Price is fixed after cutoff and applied to all.
- Settlement is not instant. Shares (or assets) appear only after report acceptance. See Depositing and Redeeming.
Price safety
The Oracle wraps each report with:- Review delay (default 1 hour) between submit and accept.
- Staleness limit (default 7 days) so old prices cannot be accepted.
- Suspicious-price bounds — absolute min/max, max absolute change, max percent move from the last accepted price. A flagged report needs a stronger role to accept, or must be rejected and resubmitted.
Native ETH and multiple assets
Funds can support multiple deposit and redemption assets, including native ETH via sentinel0xEeeeeEeeeEeEeeEeEeEeeEEEeeeeEeeeeeeeEEeE. Each asset in a batch has its own report. One fee base asset drives time-based fee accrual and risk valuation.