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Vault Underwriting

How NoVault sizes and executes NO underwriting in production-like workflows.

Risk Config
Execution Path
PnL Surface

Risk config

NoVault enforces global and per-market controls: reserve floor, fractional Kelly sizing, minimum edge, slippage buffer, stale signal cutoffs, and per-market caps.

Execution path

NO underwriting is implemented as mint YES+NO, dispose YES via AMM, keep NO inventory. This matches the current architecture with no dedicated NO pool.

PnL surface

Vault PnL reflects realized YES disposal proceeds, NO mark/settlement outcomes, and claimed collateral. It is not equivalent to instantaneous spot reads.