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Q: What is the legal structure? Am I safe? Is it bankruptcy remote?
A: The 'Fund Structure' is setup via a trusted, legal, and compliant firm to protect US and International users. The structure has bankruptcy remoteness through separate asset share classes and the brokerage firm is a qualified custodian, meaning assets invested by the user are in segregated accounts and not comingled like bank deposits and exchanges.
Q: What is required to onboard onto Fortunafi's Tokenized Asset Protocol app?
A: Onboarding requires KYC/B approval through one of our partners, and completion of the subscription documents. KYC/B onboarding info can be found in the onboarding section above.
Q: How do I mint (invest) and redeem out of positions? How long does it take for the process to complete?
Q: Where will our daily NAV reports be published?
A: The daily NAV reports will be published by our fund administrated and shared via our app.
Q: What is the difference between fBILL and ifBILL and how does this concept extend across assets?
A: fBILL is a fund dedicated for users inside the USA and ifBILL is a fund dedicated for international users. The underlying composition of the funds is the same, but users may only transfer their assets among whitelisted users of their own fund.
Q: What are the underlying assets?
A: Underlying investments may include (i) direct purchases of U.S. Treasury Bills that have a remaining maturity under 12 months, or (ii) investments in ETFs that invest in short-term U.S. Treasury Bills, including BIL, SGOV, and SHV.
Q: What is the liquidity associated with the underlying assets?
A: The underlying assets are highly liquid and publicly traded. Redemptions are processed once daily for any size.
Q: What are the fees? A: Fees will be set at .04% with subjectivity to change
Q: Where can I get leverage on my assets?
A: On Canto you can use your fBILL or ifBILL in the Canto Lending Market as collateral to borrow NOTE.
Q: How do liquidations work?
A: Once you have used your fBILL or ifBILL as collateral for leverage and the underlying asset (U.S. treasury bill) rate moves against your position, your assets will move to a liquidation module and Fortunafi's dedicated liquidation address. Thus we buy the asset at a small discount and issue USDC back into the contract to repay the note debt issued from the protocol.