Investing and Positions

How Investing Works

An investor depositsDepositThe action of investing collateral into a raise. The raise contract receives collateral, routes it to the yield strategy, and mints a pFT position NFT. 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 routes to the yield strategy and backs investor principal protection. pool. At depositDepositThe action of investing collateral into a raise. The raise contract receives collateral, routes it to the yield strategy, and mints a pFT position NFT. 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 routes 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. The raise contract receives collateral, routes it to the yield strategy, and mints a pFT position NFT. 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. The raise contract receives collateral, routes it to the yield strategy, and mints a pFT position NFT. 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 routes 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 any 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 routes 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 routes 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:

What Investors Can Do

Hold

Keep position unchanged

Redeem

Exercise principal-protection path and exit to collateral

Withdraw

Claim project FT exposure, forfeit protection on that portion, and release backing capital to capitalDivesting (for optional buyback/burn if configured)

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

Deposit-Time ConversionDeposit-Time ConversionConverts collateral to FT allocation at deposit time using a live oracle price feed. Records strike and ftPerUSD values 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. The raise contract receives collateral, routes it to the yield strategy, and mints a pFT position NFT. 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. The raise contract receives collateral, routes it to the yield strategy, and mints a pFT position NFT. 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 routes 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. The raise contract receives collateral, routes it to the yield strategy, and mints a pFT position NFT. A live oracle price feed determines USD notional for FT allocation via deposit-time conversion. time.

1

Collateral Deposit

USDC, WETH, or other accepted asset

2

Oracle Price

Strike recorded at deposit time (1e8 scaled)

3

USD Notional

Collateral amount * strike = USD value

4

FT Allocation

USD notional * ftPerUSD = token units allocated

Equal USD notional maps to equal allocation regardless of collateral type. Conversion uses only values recorded at deposit time.

See Formula Reference for the exact formulas and worked examples.