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FAQ

chevron-rightWhat is a PPV?hashtag

A PPV (Perpetual Prediction Vault) is an on-chain vault that holds and trades a portfolio of prediction-market positions. It allows users to gain ongoing exposure to a strategy or worldview through a single ERC-20 share token, rather than managing individual prediction market positions themselves.

PPVs remain active over time by rolling exposure into new markets as older markets resolve.

chevron-rightHow is NAV calculated?hashtag

NAV (Net Asset Value) represents the total value of a vault’s assets minus liabilities.

At each roll, the vault:

  • Marks open positions to market using orderbook-aware, executable pricing

  • Accounts for realized P&L from resolved markets or executed trades

  • Nets deposits and withdrawals where possible to reduce unnecessary execution

NAV is then used to compute the price per share (PPS) for deposits and withdrawals.

chevron-rightCan I exit at any time?hashtag

Withdrawals are not processed in real time. Instead, withdrawal requests are queued and processed during vault rolls.

Each vault enforces a minimum withdrawal window of 24 hours, though some vaults may configure longer delays. Once processed at a roll, withdrawals are paid out based on the roll PPS.

chevron-rightWhat fees do I pay?hashtag

Fees depend on the specific vault but may include:

  • Management fees charged as a percentage of assets under management

  • Performance fees charged on profits, often subject to a high-water mark

  • Execution-related costs such as trading fees or slippage, reflected indirectly in NAV

Exact fee structures are defined at the vault level and should be reviewed before depositing.

chevron-rightWhat are the main risks?hashtag

Using ZEIT vaults involves several risks, including:

  • Market risk from incorrect predictions or adverse outcomes

  • Liquidity risk due to thin prediction market orderbooks

  • Execution risk from slippage or incomplete fills

  • Smart contract risk associated with on-chain systems

  • Oracle or resolution risk related to how markets are settled

Vault performance is not guaranteed, and losses are possible.

chevron-rightHow do vault managers get paid? hashtag

Vault managers are typically compensated through a combination of management fees and performance-based fees.

Performance fees are generally calculated as a percentage of profits and may use a high-water mark to ensure fees are only charged on new gains. Fee mechanics are enforced at the vault level and reflected in NAV calculations.

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