RAVA

Fund the vault.

The vault is the market's standing counterparty. It locks deposits into escrow, sells the stress side to buyers at a published price ladder, and holds the calm side plus the escrow interest. No human sets its prices, and its worst case each window is a stated number.

Window MAR27 vault.

62% of cap committed
Deposit cap this window$2.0Mthe window cannot sell more cover than the vault holds
Committed so far$1.2M
Premium collected to date$168,000cash from stress buyers, day one income
Maximum loss this windowYour depositescrowed before the window opens; nothing beyond it can be lost
WithdrawalsAt the window rolldeposits anytime; exits settle when the window does
Skin in the gameTeam holds 10% or more through cycle two

What a $100 deposit earns.

Illustrative, on the published band for March 2026 to March 2027. The vault sells stress for cash upfront, the escrow earns treasury interest, and the window's landing decides the rest.

Calm year
+7%
most years
Credit rally
+16%
calm takes the whole pot
Scare year
-20%
stress buyers paid
Crash
-88%
rare; the risk being paid for

Stress buyers pay in every year. The crash comes some years. That gap is the underwriting business, and the escrow interest is the floor under it.

The rules, before you deposit.

  • The vault sells stress on a published ladder: prices rise as inventory sells and cool off slowly, with no discretionary pricing at any point.
  • A hard cap per window bounds what it can sell; the cap is the advertised maximum exposure.
  • Sales pause automatically if the live credit market moves beyond a preset band while the ladder is stale. Pausing affects new sales only, not exits or settlement.
  • Parameters change between windows only, per the published rulebook. What happens in the worst window is specified before the window opens.

The demo accepts no capital. Deposit terms shown are the published launch design; see Solvency for what escrow can and cannot do.