Skip to main content
Cargo vault shares do not pay a coupon. A share is one unit of a physical asset. Its value is NAV, and what you earn is the gap between what you paid and what you get back, plus any bonus shares. The figures below are the Genesis Vault’s (cvCOCOA, West African Grade 1 cocoa).

​
Sources of Return

New shares are only ever sold below NAV: on the Genesis curve (9.2% to 3.0% below in the Genesis Vault), then at each batch’s clearing discount. Redemption returns NAV − 0.10%.
In the Genesis Vault, Genesis shares locked for 90 days receive +1.0% bonus shares; locked for 180 days, +2.5%.
Buy in a batch below NAV, pre-sell the same units to an offtaker at NAV, redeem, and bid again. Each turn (12 days in the Genesis Vault) earns roughly the clearing discount less 0.35% of fees. The discount is set by the auction and will compress as more capital arrives.

​
What You Do Not Pay

  • No management fee and no storage fee for holders. Storage, collateral management and insurance are paid by originators at cost.
  • No fee on the Genesis curve.
  • Fees apply only when you trade or exit: 0.25% per side in a batch, 0.10% on redemption, 1.0% through the bridge. See the fee schedule.

​
Tracking Your Position

Genesis Vault figures are at prices of 9 Oct 2026, before price moves. They are illustrations, not forecasts, and they are never annualised. Capital is at risk. See Returns and NAV.