USER GUIDE

Settlement and IP Vault Rounds

IP Vault groups subscriptions into rounds because the underlying RWA strategy accepts capital on a scheduled settlement process.

For current balances, capacity, NAV, rates, fees and settlement timing, use the live product pages. Documentation explains mechanics; live product data can change.

Round capacity

Each round can have a defined settlement capacity. The live Vault interface is the source for current capacity and countdown information.

FIFO queue

Subscriptions are processed in the order they enter the queue. Protocol controls are designed so operators or administrators cannot arbitrarily move one wallet ahead of another.

Partial settlement

If only part of a queued subscription fits into the current round, that portion can settle while the remainder stays queued for the next round.

NAV at settlement

Shares are created using the applicable onchain NAV at settlement. Before settlement the queued amount is still ipUSD; after settlement it becomes a vault share position.

Launch schedule reference

The launch announcement scheduled the first settlement for 2 November 2026. Future round dates should be taken from the live Vault interface because schedules and capacities can change.