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Tokens & Wallets

Shares of the Funds​

When you invest in one of our Funds, you become a shareholder of an open-ended investment company (more specifically a SICAV, see Legal & Regulatory Framework) that holds a portfolio of T-Bills. Shares are issued in the form of tokens:

  • USTBL for the US T-Bills Money Market Fund
  • EUTBL for the EU T-Bills Money Market Fund

These tokens are minted on the wallet of your choice (see below).

Exposure to crypto assets

Even though their shares are issued as tokens on blockchains, the Spiko Funds have no exposure to crypto-assets. They only invest in Treasury Bills and maintain a small cash buffer in the form of bank deposits (max. 10% of the Funds’ assets). The absence of stablecoins in the Funds’ balance sheet protects investors from a depeg risk.

Technical form​

USTBL and EUTBL are ERC-20 and ERC-1363 implementations.

The source code of these tokens is publicly available here.

USTBL and EUTBL are freely transferrable between allowlisted addresses. Please refer to the DeFi section for more details.

Value of the shares​

Every financial business day, the official values of the USTBL and EUTBL shares are calculated by the Funds' valuator, and published both on-chain and off-chain, as well as submitted to the French Financial Markets Authority.

Income genereted by the Funds is automatically reinvested, so the value of USTBL and EUTBL accrues and compounds over time.

Wallets​

We offer two options to hold your Fund shares:

  • Non-custodial option: you use your own wallet.
  • Custodial option: you use a wallet provided and secured by Spiko.

Custodial option​​

This option allows you to use the wallet we create by default for each of our investors. In this case, you don't need to worry about managing a cryptographic wallet. You interact directly with Spiko's Funds through our web app. The network used to operate the custodial solution is Polygon PoS.

CUSTODIAL OPTION

We recommend this option for investors who are not familiar with blockchain technology.

Non-custodial option​​

This option allows you to use the wallet of your choice. You can connect to our app with hundreds of wallet providers. You'll be asked to:

  • First, select the network. Spiko's Funds are offered on Ethereum and Polygon PoS at this stage. Other networks might be offered in the coming months. Please reach out in case you'd like us to explore a new network integration.
  • Then, connect your wallet. If needed, you'll be required to sign a transaction e.g. for redemption orders.
PRIVATE KEY

We recommend this option only if you are familiar with managing a non-custodial cryptographic wallet. You will be fully responsible for the management of your private key. We assume that any transaction signed with your private key is coming from you.