StableNexus
Docs

How It Works

The wrapper-share model uses eligible base-asset deposits, fixed-balance shares, settlement-driven distribution accrual, and unwrap-to-base-only exits.

Wrapper-share mechanics

The wrapper vault accepts eligible deposits of SNXDB. In return, it issues wrapper shares that represent a proportional claim on accounted base assets inside the vault.

Share balances remain fixed after issuance. When settled eligible base assets are added to the vault and formally counted, the vault reports more accounted base assets against the same share supply, which raises unwrap value per share.

Lifecycle

  1. An eligible holder completes the required onboarding and allowlist checks.
  2. The holder wraps SNXDB into the Ethereum wrapper vault.
  3. The wrapper vault issues wrapper shares using the current share-value formula.
  4. Eligible distributions are settled into the vault and then counted into accounted base assets.
  5. Wrapper reports publish updated NAV, settlement, reconciliation, and exception records.
  6. The holder may unwrap wrapper shares back into base asset only.