Wrap and Unwrap
Wrapping deposits eligible base assets into the wrapper vault for fixed-balance shares. Unwrapping burns wrapper shares and returns base asset only.
Wrap flow
- Complete the published eligibility and allowlist process.
- Transfer an eligible amount of SNXDB into the wrapper vault.
- The wrapper contract calculates wrapper shares using the current accounted base assets and total share supply.
- Wrapper shares are issued to the approved Ethereum wallet.
- The wrap event and resulting balances are reflected in wrapper reporting outputs.
Unwrap flow
- Submit an unwrap instruction from an approved wallet.
- The wrapper contract burns the specified wrapper shares.
- The wrapper contract returns the corresponding amount of base asset using the current unwrap value per share.
- The wrapper ledger, NAV snapshot, and reconciliation outputs update to reflect the burn and asset movement.
Exit boundary
The wrapper instrument does not offer direct cash redemption. Unwrap returns base asset only.