Settlement

Settlement is the point at which a corporate action stops being a claim and becomes a balance. A settlement adapter performs that conversion.

Adapter types

Cash

Credits the vault with the declared amount per eligible unit.

In-kind

Receives a distributed security and makes it claimable pro rata.

Cash or stock

Resolves an elective distribution at vault level and distributes the outcome uniformly to every holder.

Redemption

Once an adapter reports delivery, distribution tokens are burned against the delivered balance. A settlement fee is charged on redemption. The principal token is unaffected and remains redeemable for the underlying.

Settlement confidence

Each event carries a settlement confidence figure, reflecting operator agreement on the declared terms. Confirmed actions converge toward certainty as the ex-date approaches. Unconfirmed actions stay materially uncertain because their terms are not yet fixed.