# SukukFi Vault Terms

Machine-readable summary of the currently live vault. For narrative explanation, see
[docs.sukuk.fi](https://docs.sukuk.fi/overview); for the underlying methodology and
independent verification, see the links at the end of this file.

## Live vault: duPRT (PrimeTel)

- **Obligor:** PrimeTel PLC, a Cypriot telecom operator. Full credit assessment:
  https://blog.sukuk.fi/blog/primetel-credit-assessment
- **Structure:** Mudarabah profit-share. Depositors supply capital that finances
  PrimeTel's supplier invoice settlements; profit is shared when buyers pay.
- **Chain:** Berachain (chain ID 80094)
- **Vault standard:** ERC-7540 (async deposit/redeem)
- **Vault hard cap:** $3,000,000

## Supported assets

| Asset | Decimals |
|---|---|
| USDC.e | 6 |
| USD₮0 | 6 |
| HONEY | 18 |

## Minimum deposit

1.0 token (enforced on-chain; smaller deposits revert).

## Projected profit share

**21% annualised, projected. Not realized or guaranteed.**

Derivation: the Fuze Finance IBAN collects approximately $3.1m/month, generating
approximately $52.5k/month in vault profit share. Annualised against the $3m vault
hard cap: (52.5k × 12) / $3m = 21%. Full derivation and live figures:
https://docs.sukuk.fi/transparency/protocol-stats

## Fees

- **Management fee:** none
- **Withdrawal fee:** none
- **Performance fee:** up to 20% of profit distributions; currently waived. The fee
  in effect for a given pool is shown at deposit time.

## Redemption

- **duPRT** (this vault): 15net15 terms. Invoice settlements arrive twice monthly,
  so most redemption requests are fulfilled within one settlement cycle, typically
  within 15 days of submission.
- **trUST** (settlement layer, separate from duPRT): redemptions process after
  operator KYB review, typically faster since the backing pool maintains a liquid
  float.
- Bond tokens (duPRT/trUST) are also tradeable on Kodiak at any time, subject to
  market liquidity, independent of the redemption queue above.

## Risk summary

Full risk factor table and methodology:
https://docs.sukuk.fi/for-capital-providers/risk-considerations

| Factor | Rating |
|---|---|
| Obligor credit quality | Medium |
| Structural protection (receivables assignment) | Low risk |
| Invoice verification | Very low risk |
| Liquidity risk | Medium |
| Negative yield risk | Medium |

## Compliance

SukukFi structures vault arrangements on Islamic finance principles (Mudarabah,
Murabaha). No independent Sharia supervisory board has certified any SukukFi vault;
this describes a design methodology, not a certified or regulated Sharia-compliant
product. The protocol is open to all investors regardless of faith.

## LP introducer commission

Any Berachain wallet can register an invite code. Referred deposits that stay
deployed for 30+ days earn the introducer 5% of the protocol-wide fee pool each
month, weighted by their share of qualifying deployed capital, paid in trUST.

## Live figures

This file describes structure and methodology, not real-time numbers. For current
on-chain figures (TVL, pending deposits, holder count, per-vault balances), see:

https://sukuk.fi/config/vault-stats.json

That file is a periodic snapshot from `scripts/fetch-vault-stats.cjs`, not a live
query. Check its `fetchedAt` field for how current it is. It reports aggregate
counts only (e.g. `holderCount`), never individual wallet addresses.

## Independent verification

- Public Dune dashboard (on-chain reconstruction of TVL from raw event logs):
  https://dune.com/sukukfi/sukukfi-berachain-vault-metrics-duprt-trust
- TVL calculation methodology: https://docs.sukuk.fi/transparency/contracts
- Security audits: https://docs.sukuk.fi/transparency/security-audits

## Links

- Deposit: https://app.sukuk.fi/
- Docs: https://docs.sukuk.fi/overview
- Blog / methodology writing: https://blog.sukuk.fi/blog

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Last updated: 2026-07-05