05 / Accounting architecture

Account in ETH. Then price EVE.

Account in ETH. Then price EVE.StrategyManager sums strategy NAV, idle protocol ETH, and supported-token value, subtracts live priced redemption liability, and supplies ETH NAV to AMM entry and exit pricing.−ASSETSStrategy NAVΣ navInETH()ASSETSIdle protocol ETHFree + in-flight ETHASSETSSupported tokensOracle value in ETHSUBTRACTPriced exit liabilitiesIn-window batches onlyNET ASSET VALUETotal NAV in ETHStrategyManager.totalNAVInETH()AMMBase priceExit pricingAMMPremium priceEntry pricing · cw
ETH-denominated accountingNet value used for pricing

Idle ETH includes StrategyManager, Controller, and AMM free balances. Supported ERC-20s are valued through Oracle. In-window priced redemption liabilities are deducted; locked claim ETH is already excluded from AMM free balance. Pricing also adjusts the live EVE supply.