
A token goes in.An instrument comes out.
- A · UNDERLYING
250,000 CASHCAT sit in a wallet. A plain ERC-20 balance, nothing more.
- B · DEPOSIT
wrap()moves the tokens into the vault and records the amount that actually arrived. From here on, they do not move. - C · ISSUE
The vault prints one note: serial, token, amount, entry from the pool TWAP, dates, share of supply.
- D · SEAL
The term closes the band. The note is a normal ERC-721 — the position is now an object.




