JIA-PH-SR-IF, issued by Textile, is a tokenized-funds debt instrument that gives tokenholders a proportional onchain claim on the lending pool underlying Jia PH Senior Invoice Factoring.

The token tracks Jia PH Senior Invoice Factoring (JIA-PH-SR-IF), a private-credit reference asset, and represents a lender position in an onchain debt pool [S1][S2]. Holders earn interest paid by the borrower on deployed capital only; idle staked capital earns nothing [S3]. Interest accrues continuously and by default auto-compounds into the share price, with tokenholders able to disable compounding and reserve interest for manual claiming [S4][S5]. Holders bear protocol deposit and interest fees paid to the treasury, plus separate underwriter deposit and interest fees [S4][S5].

Textile is a decentralized protocol with no named issuing legal entity, jurisdiction, or regulator; the license page identifies only the brand holding commercial-use rights [S1][S6]. The tokenholder claim is an ERC-20 debt token representing a share in the pool, governed per pool by a borrower-uploaded contract between borrower and lenders [S2][S3]. Participation is open globally without geographic restriction, gated only by each pool's minimum stake [S1][S5]. Redemption is not instant: lenders submit a Withdraw Principal request, queued and fulfilled on the pool's next redemption date subject to available reserve liquidity, optionally requiring underwriter approval [S3][S7]. Capital is held in an immutable per-tranche Reserve custody contract [S8].

Pool tranches implement the ERC-4626 vault standard and issue ERC-20 debt tokens onchain across Ethereum, Base, an Ethereum Layer 2, and Celo [S1][S4]. Lenders deposit a stablecoin and mint shares, the first deposit minted one to one and later shares priced from totalAssets; redeem burns shares for the pool's borrow token [S4][S5]. Valuation is derived onchain from totalAssets, with no external NAV or price oracle [S4][S5].

<Sources
  retrievedAt="2026-06-21"
  items={[
    { id: "S1", url: "https://docs.textilecredit.com/" },
    { id: "S2", url: "https://app.textilecredit.com/" },
    { id: "S3", url: "https://docs.textilecredit.com/guides/how-to-become-a-borrower.html" },
    { id: "S4", url: "https://docs.textilecredit.com/protocol/developer-guide.html" },
    { id: "S5", url: "https://docs.textilecredit.com/guides/how-to-stake-capital.html" },
    { id: "S6", url: "https://docs.textilecredit.com/license.html" },
    { id: "S7", url: "https://docs.textilecredit.com/guides/how-to-withdraw-principal.html" },
    { id: "S8", url: "https://docs.textilecredit.com/protocol/auditor-intro.html" },
  ]}
/>


# Asset Price methodology

## 1. Overview

Asset price represents the closing USD value of a tokenized asset at the end of each day. Daily prices are recorded to facilitate the valuation of on-chain activity and the calculation of market capitalization. Each price point reflects the market value at the conclusion of the UTC day.

## 2. Data sources

- **Asset metadata**: Token contract addresses, ticker identifiers, and on-chain launch timestamps
- **External data**: End-of-day price feeds and exchange rate feeds from market data providers
- **Blockchain data**: Data covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others) and non-EVM chains such as Solana, Aptos, and Near

## 3. Step-by-step calculation

### Component A: Market data retrieval

- **Purpose**: Collect raw daily price information
- **Logic**: Daily price data is retrieved from external market data providers. For assets pegged to specific currencies, prices are calculated using a multiplier and daily exchange rates. For assets traded on traditional exchanges where data is unavailable on certain days, such as weekends or holidays, missing values are filled with the last available closing price.

### Component B: Timestamp normalization

- **Purpose**: Align price data with daily reporting periods
- **Logic**: Timestamps are truncated to the daily grain. To accurately reflect the closing value, prices recorded at the start of a day (00:00:00 UTC) are assigned to the preceding calendar day.

### Component C: Asset mapping and deduplication

- **Purpose**: Associate prices with unique assets and resolve data overlaps
- **Logic**: Prices are mapped to assets using unique identifiers for EVM-compatible and non-EVM chains. To ensure data integrity, price records are filtered to include only those occurring on or after the asset's on-chain launch date. In instances where price data for a single asset is available from multiple sources, the data is deduplicated by selecting the record with the highest priority to ensure a single, consistent closing price.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Asset price

Tokenized funds

Capital providers deposit stablecoins into debt pools and receive ERC-20 debt tokens representing their proportional claim. Interest from borrowers auto-compounds, increasing token value.

Textile is a decentralized private credit protocol that transforms traditional private credit markets into an open, programmable capital graph. It supports revolving credit lines with continuous compounding, tokenized debt positions tradeable on secondary markets, and underwriter-based risk assessment across Celo, Ethereum, and Base.

Credit companies, borrowers, and capital providers worldwide participate in Textile's decentralized lending markets.

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Lending

Textile

Textile Credit Jia PH Senior Invoice Factoring (JIA-PH-SR-IF) is a tokenized fund share issued by Textile.

Each token is a direct claim on the issuer and has being wound down issuance.

The fund is closed-ended and invests in private credit in Asia-Pacific excluding Japan.

Investors can subscribe and redeem in USDC, and holders have a right to redeem at net asset value.

JIA-PH-SR-IF has been issued on Base as an ERC-4626 token since January 2026.

Textile Credit Jia PH Senior Invoice FactoringJIA-PH-SR-IF