Batch Processing

The system operates on a batched processing model where user requests are queued and settled periodically. All requests in a Batch use the same NAV pricing inputs.

Batch Structure and Rules

• Batch ID: A unique, incrementing batchId identifies each batch.

• Request Limits: Each allocator is limited to submitting one deposit and one redemption request per share class per batch.

• Settlement Order: Outstanding batches are always settled in strict chronological order, from oldest to newest. The system will not process the current batch until all previous batches have been settled.

Batch Processing

The batch processing cycle consists of two distinct phases: the Request Phase and the Settlement Phase.

1. Request Phase: During this phase, users submit their deposit and redemption requests for the current batch. The following functions are used:

   • requestDeposit(RequestDepositParams calldata _requestDepositParams)

   • requestRedeem(uint8 _classId, uint256 _shareUnits)

2. Settlement Phase: This phase begins at the end of the batch window. The Oracle calls the settlement functions to finalize all outstanding requests.

   • settleDeposit(SettlemenParams calldata _settlementParams) Shares are minted and allocated to the user.

   • settleRedeem(SettlemenParams calldata _settlementParams) Tokens are transferred to the user.