Investing and Positions

How Investing Works

An investor depositsDepositThe action of investing collateral into a raise. Collateral is received by the raise contract, routed to the yield strategy, and a pFT position NFT is minted. At deposit time, a live oracle price feed determines USD notional for FT allocation via deposit-time conversion. into a collateralCollateralThe asset an investor deposits into a raise (e.g., USDC, WETH). Each accepted collateral type runs in an isolated pool with independent reserve accounting. Active collateral is routed to the yield strategy and backs investor principal protection. pool. At depositDepositThe action of investing collateral into a raise. Collateral is received by the raise contract, routed to the yield strategy, and a pFT position NFT is minted. At deposit time, a live oracle price feed determines USD notional for FT allocation via deposit-time conversion. time, a live price feed converts collateralCollateralThe asset an investor deposits into a raise (e.g., USDC, WETH). Each accepted collateral type runs in an isolated pool with independent reserve accounting. Active collateral is routed to the yield strategy and backs investor principal protection. to USD notional, and the position’s token allocation is derived from the raise’s fixed token price.

Example:

• Raise token price: $0.05
• Alice depositsDepositThe action of investing collateral into a raise. Collateral is received by the raise contract, routed to the yield strategy, and a pFT position NFT is minted. At deposit time, a live oracle price feed determines USD notional for FT allocation via deposit-time conversion. 10,000 USDC -> $10,000 notional -> allocation equivalent to 200,000 token units
• Bob depositsDepositThe action of investing collateral into a raise. Collateral is received by the raise contract, routed to the yield strategy, and a pFT position NFT is minted. At deposit time, a live oracle price feed determines USD notional for FT allocation via deposit-time conversion. 3.33 WETH when WETH is $3,000 -> ~$10,000 notional -> same allocation equivalent

Equal USD notional maps to equal allocation regardless of collateralCollateralThe asset an investor deposits into a raise (e.g., USDC, WETH). Each accepted collateral type runs in an isolated pool with independent reserve accounting. Active collateral is routed to the yield strategy and backs investor principal protection. type.

Position Representation (ERC-721)

In the codebase, investor positions are represented as pFTpFTERC-721 position token representing an investor's position. Stores collateral token, amounts, FT(fundraising token) allocation, and strike/oracle context. Transferable as a standard NFT. ERC-721 tokens.

Each pFT position stores:

• CollateralCollateralThe asset an investor deposits into a raise (e.g., USDC, WETH). Each accepted collateral type runs in an isolated pool with independent reserve accounting. Active collateral is routed to the yield strategy and backs investor principal protection. token
• CollateralCollateralThe asset an investor deposits into a raise (e.g., USDC, WETH). Each accepted collateral type runs in an isolated pool with independent reserve accounting. Active collateral is routed to the yield strategy and backs investor principal protection. amount and remaining amount
• FTFT (Fundraising Token)The project's token being sold in a raise. Investors receive fundraising token allocation at deposit time, which they can later withdraw to claim the FT tokens. amount allocated to the position
• StrikeStrikeOracle price at deposit time, scaled to 1e8 (Chainlink standard). Recorded during deposit-time conversion and used for exit calculations — the oracle is not consulted again at exit time./oracle context used by conversion math

Each position supports three actions: hold, exit via redeemRedeemExercise principal protection and exit to collateral. Implemented by the divest contract function. Always available, permissionless, and on-chain. and exit via withdrawWithdrawClaim project tokens and forfeit principal protection on the withdrawn amount. Implemented by withdrawFT. Requires transferable to be enabled. Released capital moves to capitalDivesting for buyback and burn..

What Investors Can Do

After investing, investors have three choices:

• Hold: keep position unchanged
• RedeemRedeemExercise principal protection and exit to collateral. Implemented by the divest contract function. Always available, permissionless, and on-chain.: exercise principal-protection path and exit to collateralCollateralThe asset an investor deposits into a raise (e.g., USDC, WETH). Each accepted collateral type runs in an isolated pool with independent reserve accounting. Active collateral is routed to the yield strategy and backs investor principal protection.
• WithdrawWithdrawClaim project tokens and forfeit principal protection on the withdrawn amount. Implemented by withdrawFT. Requires transferable to be enabled. Released capital moves to capitalDivesting for buyback and burn.: claim project FTFT (Fundraising Token)The project's token being sold in a raise. Investors receive fundraising token allocation at deposit time, which they can later withdraw to claim the FT tokens. exposure, forfeit protection on that portion, and release backing capital for buybackBuyback and BurnMechanism where released capital from withdraws and yield surplus are used to buy back and burn project tokens, reducing circulating supply./burn routing

Partial actions are supported. See Hold, Redeem, and Withdraw for detailed flow mechanics.

Deposit-Time ConversionDeposit-Time ConversionThe process of converting collateral to FT allocation at deposit time using a live oracle price feed. The conversion records strike and ftPerUSD values that are used for all future exit calculations.

getAssetFTPrice(token, amount) returns:

• ftOut — FTFT (Fundraising Token)The project's token being sold in a raise. Investors receive fundraising token allocation at deposit time, which they can later withdraw to claim the FT tokens. amount allocated
• strike — oracle price at depositDepositThe action of investing collateral into a raise. Collateral is received by the raise contract, routed to the yield strategy, and a pFT position NFT is minted. At deposit time, a live oracle price feed determines USD notional for FT allocation via deposit-time conversion. time, scaled to 1e8
• ftPerUSDftPerUSDNumber of FT(fundraising token) per USD at the raise's fixed token price, scaled to 1e8. Recorded at deposit time and used in exit conversion formulas. — FTFT (Fundraising Token)The project's token being sold in a raise. Investors receive fundraising token allocation at deposit time, which they can later withdraw to claim the FT tokens. per USD at the raise price, scaled to 1e8

At depositDepositThe action of investing collateral into a raise. Collateral is received by the raise contract, routed to the yield strategy, and a pFT position NFT is minted. At deposit time, a live oracle price feed determines USD notional for FT allocation via deposit-time conversion. time, the contract converts collateralCollateralThe asset an investor deposits into a raise (e.g., USDC, WETH). Each accepted collateral type runs in an isolated pool with independent reserve accounting. Active collateral is routed to the yield strategy and backs investor principal protection. to FTFT (Fundraising Token)The project's token being sold in a raise. Investors receive fundraising token allocation at deposit time, which they can later withdraw to claim the FT tokens. using strike, ftPerUSD, and the token’s decimal precision. The conversion is deterministic and uses only the values recorded at depositDepositThe action of investing collateral into a raise. Collateral is received by the raise contract, routed to the yield strategy, and a pFT position NFT is minted. At deposit time, a live oracle price feed determines USD notional for FT allocation via deposit-time conversion. time.

See Formula Reference for the exact formulas and worked examples.