fija Token

fija Token description.

For every deposit, the vault mints its own fija Token and issues them to the address from which the deposit was made or an address defined in the deposit function. Each vault has its own tokens.

The token increases in value over time as the strategy contract harvests fees and issues the yields back into the strategy. The value of the strategy token held by the vault will therefore increase, and in return, the value of the token will increase. Hence, a customer redeeming a token after a certain time will receive more deposit tokens than initially deposited. A token can be sent back to the vault anytime. When sent back the vault burns the token and transfers all underlying assets to the wallet address the token was sent from or the address defined in the withdraw function.

A fija token can be directly associated with the underlying strategy token and, consequently, the assets held by the strategy contract.