Core conceptsCoins and shares
Coins and shares
How a creator coin becomes a vault claim and then a tradable ShareOFT, and what the vault does with the coins it holds.
Creator coin
The creator's ERC-20 on Base
Vault claim
ERC-4626 share of the vault
ShareOFT
What people buy and sell
Every 4626 vault connects three tokens. The creator coin goes in, the vault records a claim, and the claim is wrapped into a share that can trade and move across chains.
Creator coin
The creator coin ($TICKER) is an ERC-20 on Base, such as a Zora creator coin. It is the vault's deposit asset. It keeps its own ticker and address; the vault never renames or replaces it.
Zora is one app where creator coins are made and discovered. It is not the 4626 vault.
Vault claim
When coins are deposited, the vault (CreatorOVault) mints vault claims (, for example ). A vault claim is a standard ERC-4626 share: a pro-rata claim on everything the vault holds.
Vault claims are internal accounting. They are not listed on DEXs.
Depositing exchanges direct possession of the coins for a vault claim. Wrapping locks that claim to issue ShareOFT; it does not create an additional pool of backing or ownership of the operating company. Redemption depends on contract state, applicable fees, cooldowns, available liquidity, strategy exits, and bridge settlement. Neither token is a bank deposit or a guaranteed dollar balance.
ShareOFT
The wrapper locks 1000 vault claims and issues 1 ShareOFT (, for example ). ShareOFT is what people buy, sell, and bridge. It is a LayerZero OFT, so the same share can exist on Base and Solana.
Conversion rates
At launch, depositing 1 creator coin gives you about 1 ShareOFT. That is because the vault mints about 1000 vault claims per coin, and the wrapper turns 1000 claims into 1 ShareOFT.
| Step | Rate at launch | Later |
|---|---|---|
| Creator coin → vault claim | about 1 : 1000 | Follows the vault's price per share |
| Vault claim → ShareOFT | exactly 1000 : 1 | Always 1000 : 1 |
| Creator coin → ShareOFT | about 1 : 1 | Follows the vault's price per share |
Vault claims and ShareOFT are never 1:1 in raw units. The wrap is always 1000 : 1. The "about 1 coin to 1 ShareOFT" rate only holds while the vault's price per share is at its starting value. The vault uses _decimalsOffset() = 3 (virtual shares).
What the vault does with deposits
The following is an illustrative strategy configuration, not a report of active positions. At the September 25, 2026 verification block, the listed AKITA vault was unfunded and had no configured strategies.
| Where | Share of deposits | What it does |
|---|---|---|
| Strategy 1 | 80% | The v4 creator/USDC pool |
| Strategy 2 | 10% | Lends creator coins on the Morpho market for that pool |
| Idle | 10% | Stays in the vault for withdrawals |
This is the vault's earn strategy. It is set up after activation, in Phase 3 of the lifecycle. How a strategy is added, removed, or set aside is in the Vault manual. It is separate from how the new shares are split at launch.
How launch shares are split
When a vault is activated, the ShareOFT created from the creator's deposit is split five ways:
| Bucket | Share | What it's for |
|---|---|---|
| Creator vesting | 25% | Unlocks to the creator linearly over 365 days |
| Solana | 25% | Bridged to Solana automatically at activation |
| Base auction | 12.5% | Sold in the fair-launch auction for ETH |
| Base liquidity | 12.5% | Seeds the ShareOFT/ETH pool after the auction |
| Other chains | 25% | Held as inventory for other EVM chains; not a live auction or pool |
The Base market is funded by the auction share plus the liquidity share. The constants are VESTING_BPS, SOLANA_BPS, BASE_AUCTION_BPS, BASE_LP_RESERVE_BPS, and SPOKE_INVENTORY_BPS on DeploymentBatcher.