Introduction
Core concepts
ETH, EVE, NAV, keepers, deposits, and redemptions in plain language.
These six terms are enough to follow the first-use guides. For implementation vocabulary, use the complete Reference glossary.
| Term | Meaning |
|---|---|
| ETH | Ethereum's native asset. You deposit ETH, redeem for ETH, and keep some in your wallet to pay transaction gas. |
| EVE | The protocol's share token. Its value can rise or fall with the managed portfolio. |
| NAV | Net asset value: the portfolio's ETH-valued assets after the protocol's accounting deductions. It is used to value EVE. |
| Keeper | Automation that submits authorized strategy and queue operations when conditions permit. It does not guarantee execution or settlement timing. |
| Deposit | Sending ETH to the protocol to mint EVE at the entry price. |
| Redemption | Exchanging EVE for ETH. An exit settles immediately only when the AMM has enough unreserved ETH; otherwise it queues, and you submit Claim after processing. |
Next: Before you start. Detailed NAV, pricing, and queue rules live in How Everstrat Works.
Last updated on