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Clear answers about Paravel, vault participation, fees, withdrawals, and the risks of PayFi lending.
Two separate entities, and the distinction matters.
The Issuer's name, registration number and registered office are published on the Interface. Deposits cannot be accepted into a Vault unless that information is displayed at the time you deposit.
If the Issuer of a Vault is replaced, or a Vault is transferred to a different Issuer, that is treated as a material amendment. You get not less than 30 days' notice and can redeem before it takes effect.
Loan Assets — the credit exposures described above — plus liquid base assets and, potentially, positions in third-party DeFi protocols held as a liquidity buffer.
There is no guaranteed minimum allocation to liquid assets. We aim to hold enough to meet anticipated redemptions but do not undertake to do so.
No. A Vault is not a separate legal entity and your Vault Interest is a claim against the Issuer in respect of that Vault — not a proprietary interest in any particular asset.
The Issuer maintains separate books and records for each Vault and will not apply one Vault's assets to another Vault's liabilities.
This is a contractual undertaking by the Issuer. It is not at present reinforced by a separate legal structure for each Vault, and we do not describe it as more than it is.