Round-Based Tokenization

REDCAP vaults operate on a round-based entry model, allowing capital to enter in fixed phases at NAV-defined prices.

Example:

• Round 1: Raise $100,000 → 100,000 tokens @ $1

• NAV grows to $125,000 via sales or appreciation

• Round 2: Raise $100,000 → 80,000 tokens @ $1.25

• Total NAV = $225,000 → 180,000 tokens circulating

🎯 Tokens are always issued at the latest NAV to avoid dilution. Early contributors benefit from lower entry prices and full exposure to NAV growth.