Teragon Managed Vault Bastion
Overview
Last NAV
Next NAV - 09:00 UTC
Projected APY
TVL (Total value locked)
Total Supply
Network
Network
Vault Manager
Return Inception-to-Date
Core Positions
Strategy
Performance
Vault Inception
Return Week-to-Date
Return Month-to-Date
Return Inception-to-Date
24h PnL
Allocations
Allocation across Investment Types
Allocation across Categories
Allocation across Chain
Information
Management Fee (Annual)
Performance Fee (Annual)
Redemption Fee
Prices Updated At Block
Managed by Bastion Trading
Bastion trading is a leading crypto trading firm focused on arbitrage, quantitative and volatility trading strategies. Teragon boasts a team of financial and trading veterans from JPMorgan, UBS, Morgan Stanley and Optiver. Masahide Hoshi, aka TheSkyhopper, is a founding partner who is well known for his work in DeFi with over 100mm AUM during his time as a Treasury Manager at Wonderland.
Investment Philosophy
Our vision is to manage a portfolio that has elements of diversification, market exposure and yield. We aim to participate in crypto market growth led by broader adoption of blockchain technology and decentralized finance. At the same time we want to maintain a healthy position in cash for two primary reasons:
● Ample buffer and safety net for deploying additional capital in market drawdowns.
● Income generation.
Frequently asked questions
What is the TMV-BT token?
The TMV-BT token ("Teragon Managed Vault – Bastion Trading”) represents a proportional share of assets held by the vault.
What strategies will be implemented?
Target Allocation:
Stables: 55-75%
Directional Tokens: 10-30%
Option Strategies: 10-20%
More information: Implementation
Questions regarding daily NAV
What is it?
NAV stands for “Net Asset Value” and is published daily by the Vault Manager. It represents the fair value of the TMV-BT token (each representing one share of the managed vault) at the time of publishing.
When is it published?
Vault NAV is published at 09:00 UTC Monday to Friday. No NAV is published on the weekend.
Why is it necessary?
After users deposit, they are entitled to TMV-BT tokens pro rata of their deposit. To ensure each user receives the correct amount of vault shares, NAV is calculated off-chain and published to the vault contract.
Why is NAV calculated off-chain?
In the future, the vault will hold positions that have no on-chain price feed. These positions can range from locked SAFT agreements to active option strategies.
Are there any fees charged on the Vault?
The vault has zero subscription and management fee. The vault charges 10% performance fee annualy, 0% management fee annualy, and 0.5% redemption fee.
How are my deposits secured?
User deposits are stored in separate 2/3 Gnosis multisig contracts, on all supported chains. This means there are three eligible signers and two must sign for any transactions to take place. The signers are a combination of Bastion traders and Teragon team members to ensure appropriate handling of funds.
Has the protocol been audited?
Teragon Managed Vault contracts have not been audited yet. The product is still in alpha stage, please use at your own risk.
How can I withdraw my funds?
Users can queue or cancel previously queued redemption request for each epoch. Once epochs are settled, users can withdraw their share of the vault assets (settled in USDC) to their account. A redemption request for an epoch cannot be cancelled after the settlement is completed for that epoch.
