Onboarding

How to subscribe and redeem Asseto's products?

KYC

To be onboarded for the subscription of Asseto products, you must be an eligible investor and complete our Know Your Customer (KYC) process. You would also need to provide us with the wallet address where you would like to receive your Tokens and sign the appropriate paperwork.

Subscribe

Once your KYC is completed, you will receive an email or notice stating when you are eligible to invest. You can subscribe the products we served with USDC via the website at any time. Subscription proceeds will typically be processed in line with the dealing cycles of the Underlying Fund. For subscription of $100k plus, please contact the team for more information. You will start earning interest as soon as the subscription is effective (following the Underlying Fund’s dealing cycle).

Once the required waiting period is over, your tokens will be approved to be delivered. You may claim the token on the asset management page. At that point, you are free to transfer your tokens to any eligible recipient (the recipient would be required to have gone through KYC process) within the approved geographies, while the fund shares will also been transferred.

Redeem

To initiate a redemption, you can submit your redemption request through our website at any time. Please note that redemptions are subject to the fund's lock-up period from your initial investment date. After submitting your redemption request, you can check the status of the request via the History function.

Redemption proceeds will typically be processed in line with the dealing cycles of the Underlying Fund. After the redemption request is approved, the redemption proceeds (if applicable, after redemption fees, in USDCs) will be transferred to your registered wallet address once processing is complete.

For redemptions exceeding $100k, please contact our team directly for special handling arrangements. All redemptions are subject to the fund's liquidity conditions and may be gated during extraordinary market circumstances to protect investor interests.

Price

The Subscription and Redemption Price of AoABT will be equal to the Net Asset Value (“NAV”) per share of the Underlying Fund provided by the Fund Administrator and/or confirmed by the Manager, with the last day of the preceding month of the Subscription Date or Redemption Date as the Valuation Date.

The actual Subscription Price of every product will be equal to the Subscription Price of the Underlying Fund. Take subscribing AoABT as an example, when you make a deposit of $1,000,000, the smart contract automatically takes two actions:

First, it determines how many AoABT tokens you should receive. The number of AoABT tokens you receive is determined by converting the stablecoins you deposit to USD equivalents (1 USDC = $1.00 USD), and then dividing that amount by the current Net Asset Value (NAV) of the AoABT token. For example, if you deposited 1mio USDC worth $1mio and the NAV was $1.0/token, you would receive $1,000,000 / $1 = 1,000,000 AoABT.

Second, it routes your deposited USDC to the Fund’s custodian account. Those funds are then used to purchase AoABT underlying holdings.

At the end of each Business Day, we update the Net Asset Value (NAV) of the Fund based upon the performance of the underlying investments, along with any accrued fees and/or expenses. We then update the AoABT price onchain to reflect this updated NAV.

Also, the actual redemption price will be equal to the Redemption Price of the underlying Fund.

When you request a redemption of your AoABT tokens, a similar process occurs in reverse. The number of USDC you receive in return for your AoABT is determined by multiplying the number of AoABT you redeem by the then-current NAV (giving a USD value), and then sending the equivalent number of USDC at a fixed value of $1.0 USD per USDC. For example, if you hold 1,000,000 AoABT, the NAV as of the Valuation Date corresponding to your Redemption Date is $1.2/token, you would receive $1.2 * 1,000,000 = $1,200,000 equivalent USDCs.

Fees

Currently Asseto does not charge any subscription and redemption fees on the tokens. Subscription Fees, Management Fees or Redemption Fees may be charged by the Underlying Fund. Please refer to the Underlying Fund’s documentations for details.