Upon maturity

The conversion when the fund ends

All tokens will be converted back to the underlying assets based on their fair values, specifically:

• QUEEN: QUEEN always swaps 1:1 with the underlying.

• Turbo and Stable:

  • The fair values of Turbos and Stables don't calculate their points; they only consider their yield and cost on the platform.

  • The calculation starts with the contract deployment dates and ends when the fund reaches maturity.

  • Stable's fair value calculates its fixed interest earning, generating a fair value of about 1+dailyRate*(settlementPeriod/86400).If a Stable has a fair value of 1.03 upon maturity, it means that every Stable of that fund can be redeemed into 1.03 underlying asset tokens.

    • 86400 is the seconds/day.

  • Turbo's fair value calculates its cost of holding all Stable's point-earning shares, generating a fair value of about 10-StableFairValue*9. Using the Stable's example above, if the Turbo's corresponding Stable ends with a fair value of 1.03, Turbo will have a fair value of about $10-1.03*9=0.73$ . This means that every Turbo of the fund can be redeemed into 0.73 underlying asset tokens.

  • You can find all data, including the deployment date, settlementPeriod and dailyRate under the Fund contract of each fund. We will also provide the links of the relevant data as well as the rough numbers of the fair values based on the calculation in the User Guides of each fund. You can find all user guides on TranchessWiki.

Redemption upon maturity is not a Swap. There’s no slippage regardless of the size you redeem for. Whether you are redeeming for 1 underlying asset token or 100k tokens, you will always be converted with the fair values shown on the website.