Dawns TN10 NAV vault

testnet-10Not auditedOpen
Verified: this address runs the NAV covenant with this mandatechecked 2026-09-29 16:35 UTC · no key, no trust in who published the ledger
  1. Mandate hashes to 4d43baaa7b…0f12e0, the hash the ledger records
  2. Code the address is blake2b of dawns-nav/1 compiled with this mandate and state, rebuilt here byte for byte. This version's address commits to the terms the covenant checks (keys, destinations, caps, limits), not the name or labels, which v1.2 adds
  3. Chain neutrino-10.kaspa.stream shows 89.6443 KAS at the address, carrying covenant id dc2c6e39f9…998e47
NAV89.14 KAS88.64 KAS liquid · 0.5 KAS in positions
How it's valued

KAS held by the vault's coin, less its 1 KAS seed, plus each destination at the valuer's mark. The same formula prices every deposit and withdrawal, inside the covenant.

Verified on-chain · the vault's coin matches this ledger · 2026-09-29 11:46 UTC
Per share0.011709+17.09% since launch at 0.01
How it's valued

NAV ÷ 7,613 shares. Deposits mint at this price rounded up; withdrawals pay it rounded down, less the 0.25% exit fee that stays with holders.

Verified on-chain · the vault's coin matches this ledger · 2026-09-29 11:46 UTC
Holders27,613 shares in 4 notes
How it's valued

Owners of live share notes: each deposit mints one KCC-20 note to its owner's personal withdrawal account; each withdrawal burns a whole note.

Verified on-chain · the vault's coin matches this ledger · 2026-09-29 11:46 UTC
In / out110 KASdeposited · 22 KAS paid out
How it's valued

Sums of every recorded deposit and withdrawal in the ledger; each is a transaction you can open from the history below.

Verified on-chain · the vault's coin matches this ledger · 2026-09-29 11:46 UTC
Where the NAV is
Hover a segment
Strategy A0.6%Strategy B0.0%Strategy C0.0%Liquid in the vault99%

Share price since launch

after every move · KAS
0.011709KAS a share now
+17.09%since launch at 0.01
0.0090.0100.0110.01214:0919:2600:4306:0111:1816:35launch 0.01
Deposit or withdrawalCapital out or backMarked or written down

The price moves only when value changes for everyone already in: interest, marks, markdowns and exit fees. Deposits and withdrawals happen at NAV and leave it where it is, except the first deposit: shares were minted at the launch price while the vault's opening seed already counted in NAV, so the first holders received it.

What holders made

every entry and exit pair
1 of 53entries ahead if held to now
4%of all 1,431 windows didn't lose
+16.80%best · 14:09 → 12:09
−0.25%worst · 14:39 → 15:09
14:0923:0907:3916:0914:3923:3908:0916:35
Entry down the side, exit along the bottom · one step = 30 minuteslostevengained

Each cell is one holder who came in at the start of a step and left at the end of another, at the share price then, less the exit fee that stays with the others. Not a forecast: it is what the recorded price did.

Could holders leave?

cash payable ÷ NAV, after every move
99%of NAV payable now
82%lowest, 28 Sep 14:28
2withdrawals, 21.76 KAS paid
0%25%50%75%100%14:1319:3000:4606:0211:1916:35reserve floor 20%

There is no withdrawal queue to time: a withdrawal is one transaction the network pays at once or refuses. What decides it is the cash in the vault, shown here. The allocator can't send capital out below the reserve floor.

Tokens and coins

everything this vault is made of
Outstanding claims and the coins behind them
Share tokenmainKCC-20 bound to the vault · 7,613 shares in 4 notes · at 0.011709 KAS89.14 KAS8f94b0…c2dd54
Vault cointhe covenant itself: one coin, its state in its script, moved only by its rules89.64 KASpzplal…93r926 ↗
Seedthe vault's own, inside the vault coin: never shares1 KAS
Note deposits1 KAS held with each share note, returned with its withdrawal4 KAS
Destination · Strategy Aat most 40% of NAV · marked 0.5 KAS, cost 0 KAS0.5 KASqr3f4l…nzmn2s ↗
Destination · Strategy Bat most 30% of NAV · marked 0 KAS, cost 0 KAS0 KASqqnq8q…cpzf4g ↗
Destination · Strategy Cat most 20% of NAV · marked 0 KAS, cost 0 KAS0 KASqzxdcc…uye0he ↗

Your position

testnet KAS only

Caps per destination

at cost, share of NAV
Strategy Akaspatest:qr3f…nzmn2s
0.0% / 40%
Strategy Bkaspatest:qqnq…cpzf4g
0.0% / 30%
Strategy Ckaspatest:qzxd…uye0he
0.0% / 20%

Entry and exit terms

set in the mandate
Exit fee
0.25% of the payout, kept for remaining holders
Minimum deposit
5 KAS after the note's 1 KAS and the fee
Mark step
at most 10% per position per period

How your KAS moves

every step checked by the network
1You send KASto your personal deposit address, from any wallet. Only the vault or you can move that coin.
2The vault mints sharesat NAV, rounded up so no deposit dilutes existing holders. Your shares are a KCC-20 token note.
3The manager allocatesonly to approved destinations, within caps and a reserve. A valuer marks what positions are worth.
4You redeemby sending 1 KAS to your withdrawal address. The vault burns your note and pays NAV to your own address.

Who can do what

four roles, no key does two jobs

Allocator

  • Moves capital to approved destinations
  • Brings it back
  • Cannot pay anyone else
  • Cannot touch shares
kaspatest:qpgc…7dn7jl

Valuer

  • Marks each position once per period
  • Within a fixed step
  • Cannot move a single sompi
kaspatest:qznf…sy96mf

Guardian

  • Creates the share token
  • Halts the vault for good
  • Cannot take capital
  • Cannot stop withdrawals
kaspatest:qpey…d03h43

Anyone

  • Runs deposits and withdrawals
  • The outcome is fixed by the rules
  • Cannot choose who gets shares or payouts

History

12 moves
Deposit · 4,180 shares minted2026-09-29 11:46 UTC · b63c1ea045ec25df… · NAV 89.14 KAS after · kaspatest:qppp…6whh0x
+50 KAS
Deposit · 764 shares minted2026-09-29 07:43 UTC · 370cd239dd296015… · NAV 40.19 KAS after · kaspatest:qppp…6whh0x
+10 KAS
Returned from Strategy A2026-09-28 14:28 UTC · 647dff65ceeaeb89… · NAV 31.24 KAS after
+5 KAS
Positions marked2026-09-28 14:28 UTC · bb1dbd684bb557d9… · NAV 31.29 KAS after
Sent to Strategy A2026-09-28 14:27 UTC · 60da800955d41a0b… · NAV 30.84 KAS after
−5 KAS
Withdrawal · 774 shares burned2026-09-28 14:24 UTC · 6abf4ae0f0900cd0… · NAV 30.89 KAS after · kaspatest:qppp…6whh0x
−10.88 KAS
Withdrawal · 774 shares burned2026-09-28 14:22 UTC · d3ca42e3b907093d… · NAV 39.82 KAS after · kaspatest:qppp…6whh0x
−10.88 KAS
Deposit · 774 shares minted2026-09-28 14:20 UTC · 40260049e6e6ebf6… · NAV 48.75 KAS after · kaspatest:qppp…6whh0x
+10 KAS
Deposit · 774 shares minted2026-09-28 14:19 UTC · 450971ef0b655af5… · NAV 39.8 KAS after · kaspatest:qppp…6whh0x
+10 KAS
Deposit · 774 shares minted2026-09-28 14:17 UTC · 6bee8bfbb1dede3e… · NAV 30.85 KAS after · kaspatest:qppp…6whh0x
+10 KAS
Deposit · 1,895 shares minted2026-09-28 14:15 UTC · fd2b6b0a99e59b53… · NAV 21.9 KAS after · kaspatest:qqg5…cz70gv
+20 KAS
Share token created2026-09-28 14:13 UTC · 8508b252ec527673… · NAV 2.95 KAS after
Vault opened2026-09-28 14:09 UTC · 335f0638877d0c4d… · seed 5 KAS (the vault's own, never shares)

The mandate

dawns-nav/1

Open to anyone on testnet-10: deposit KAS, receive shares at NAV, redeem at NAV. Destinations are Dawns-held strategy wallets standing in for real strategies.

Mandate hash
Vault covenant
Share token
Vault address now

Testnet only, not audited, no outside capital. Share notes are KCC-20 tokens owned by your personal withdrawal account; a deposit makes one note, a withdrawal burns one whole note.