Guide · 11 grid
Strikes, lots, accruals and what the onchain record does and does not tell you.
A NAV strike is a snapshot: at a point in time, the vault's assets are valued and divided by the supply of the token to give a price per unit. On Kaltra, each strike is published onchain with a timestamp, the price, and the basis for it. If a strike is late or missing, that is information — it usually means the valuation inputs are not settled.
Below the strike price sits the lot detail: individual positions, their cost basis, and the cash flows attached to them. A tokenized fund interest is not a single number; it is a stack of lots, each with its own entry price and accrual. Reading lots tells you whether the NAV moved because the underlying assets moved, or because someone subscribed or redeemed.
Income-bearing assets accrue continuously and are recognised at the strike. When you compare two strikes, the difference is a mix of mark-to-market movement and earned accrual. If the accrual line is not disclosed separately, you cannot tell performance from income — which is exactly what the onchain record is meant to fix.
Read the record as a better-evidenced version of the statement you already receive — not as a substitute for judgement.
Read more Kaltra Insights on tokenized private markets, regulation and onchain fund infrastructure.