Products

Stock Baskets

A basket is an ERC-4626 vault holding tokenized equities (RWA-1400 shares custodied off-chain by regulated market makers). Users mint basket shares at NAV, redeem at NAV, and hold a productive asset that streams dividends and can be used as collateral.

Live baskets

Basket	Ticker	Holdings	Div Yield	Mgmt Fee	TVL
S&P Top 7	mSP7	AAPL, MSFT, NVDA, GOOG, AMZN, META, TSLA	0.51%	0.15%	$142.4M
Dividend Aristocrats	bDIV25	KO, PG, JNJ, PEP, WMT, MMM, XOM, …	3.42%	0.20%	$88.1M
Nasdaq-100 Weighted	bNDX	Full N100 constituents	0.78%	0.18%	$74.9M
Financials	bFIN	JPM, BAC, WFC, GS, MS, C, SCHW	2.14%	0.20%	$41.2M
Energy Majors	bXLE	XOM, CVX, COP, EOG, SLB	3.87%	0.20%	$28.6M
Small-cap Value	bSCV	180 constituents (Russell 2000 value)	1.94%	0.25%	$21.8M
Global Tech ADR	bTECHW	TSM, ASML, SAP, NVO, TCEHY, BABA	1.12%	0.25%	$15.8M

NAV pricing

A basket's price per share is the sum of holdings marked to the oracle median, divided by total shares outstanding. Nothing more — no AMM curve, no discount, no premium.

NAV_t  =  ( Σᵢ  qᵢ · Pᵢ,t  +  C_t )  /  S_t

where:
  qᵢ    = quantity of constituent i held by the vault
  Pᵢ,t  = oracle median price of constituent i at time t
  C_t   = uninvested USDC balance (mint float)
  S_t   = total basket shares outstanding

Mint & redeem

Mint(usdc_in):
    Δ_shares  =  usdc_in  /  NAV_t

Redeem(shares_out):
    usdc_out  =  shares_out · NAV_t · ( 1 − f_exit )
    f_exit    =  0.0005   (5 bps redemption fee, refunded to remaining LPs)

A 15 bps management fee is streamed to the FeeSplitter, not charged at mint.

Rebalancing

Baskets tracking an index rebalance every 24 hours at 15:45 UTC (15 minutes before US market close). The rebalancer computes target weights w_i, current weights w'_i, and trades only the drift exceeding 30 bps to minimize slippage.

Δqᵢ  =  ( wᵢ − w'ᵢ ) · TVL / Pᵢ    if  |wᵢ − w'ᵢ|  >  0.003
       =  0                          otherwise

Rebalance is atomic: all trades settle in one block via the RH-chain
sequencer's rebalance batch order type.

Avg. rebal slippage

1.8 bps

trailing 90 days

Rebalance cadence

24 h

15:45 UTC

Drift threshold

30 bps

per constituent

Redemption fee

5 bps

refunded to LPs

Cost basis to the user

Illustrative all-in cost of holding $10,000 of mSP7 for one year:

Fee	Rate	$ / year
Management fee (streamed)	0.15%	$15.00
Rebalance slippage passed to NAV	≈0.03%	$3.00
Redemption fee (only on exit)	0.05%	$5.00 once
Total drag	≈0.23%	$23.00

Compared to traditional ETFs

A comparable Vanguard sector ETF charges 0.10% management + broker commissions + bid-ask spread + no dividend automation. Marian baskets clear at 0.23% all-in with on-chain dividend streaming and native collateral usability. The ~13 bps difference is the price of tokenization + custody, and it's fully refunded once the user borrows against the basket (borrow-fee rebate covers 30–80 bps).

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