OpenTrade Rates+ VaultXRV
XRV, issued by Open Trade Technology Ltd, is tokenized exposure to a secured-lending yield strategy whose vault token tracks the appreciating exchange rate of a loan fully collateralised by institutional real-world assets held in segregated custody. Holders deposit stablecoins into a Loan Vault, funding a secured loan to OpenTrade SPC backed by eligible collateral such as institutional money market funds and short-duration fixed income. Return accrues through an appreciation model rather than rebasing, with the token's exchange rate rising as interest accrues per the applicable method. Fees are borne by the Borrower and netted from the benchmark, comprising Advisor, Platform, Liquidity, and Spread components to derive the Loan Fee Rate. Open Trade Technology Ltd, company number 14583521, is registered in England and Wales and positions itself as a technology provider, stating it does not recommend or endorse any Loan. The borrower is OpenTrade SPC, a bankruptcy-remote Cayman Islands Segregated Portfolio Company whose portfolio is managed by Five Sigma Finance Ltd., an FCA-regulated investment firm. Vault tokens confer no legal rights; the lender's claim is governed by a Master Lending Agreement and Security Trust Deed. Access is institutional and professional only, with retail prohibited. Mulvaney Trustees (UK) Ltd holds a perfected security interest over collateral. Vault tokens are ERC-20 tokens within smart contracts based on the ERC-4626 standard, built on the Perimeter protocol. Supported networks are Ethereum, Avalanche C-Chain, and Plume. Tokens mint when deposits fund a loan and burn on withdrawal, settling in the same stablecoin same-day up to two business days, subject to a 6pm GMT cut-off. The exchange rate determines redemption value.