Semi-Redeemable Vaults
What Is a Semi-Redeemable Vault? A SRV is a smart vault that offers conditional redemption rights, enabling a spectrum of financial products that sit between:
Redeemable yield vaults (fully liquid and transparent)
Closed ICOs (locked and speculative)
Comparison
Deposit
Swaps deposit token for vault token at NAV
Swaps deposit token, records redemption price
Redemption
Redeem at NAV
Redeem at original deposit value or lose rights
Vesting
None
Vesting schedule may apply
Transparency
Full NAV reporting
Full NAV + redemption tracking
Transferability
Fully transferable
Transfers may lose redemption rights
Key Characteristics
Deposit Tracking – Every deposit transaction is individually tracked with its own redemption price and vesting schedule.
Controlled Redemption – Depositors may:
Redeem at their original deposit value, or
Lose redemption rights if they transfer or vest their tokens.
Investment Allocation – Assets are invested by a curator in defined strategies.
Transparent Reporting – Vaults publish on-chain or off-chain reports detailing:
Net Asset Value (NAV)
Redemption rights
Vested amounts
These redemption controls unlock new financial mechanisms across DATs, ICOs, and SPACs.
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