Vault Tokens

N-Tokens (NT) are ERC20 vault tokens that serve as deposit receipts, representing a user’s claim on

i) Principal deposits (1:1) at maturity.

ii) Distribution of coupon payments on the predefined coupon payment dates.

iii) Distribution of options strategy profits, if any, at maturity.

At maturity, a corresponding amount of user's NT are burned to only reflect the withdrawal of the principal deposit from the N-Vault.