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ODL is a liquidity desk for tokenized real world assets. It runs three connected things: a curated inventory of institutional grade RWAs you can borrow against or sell to ODL, a marketplace of assets ODL has taken onto its own book, and the ODL Vault, where capital providers deposit USDC and earn a return from that lending activity.

Which side of it you use depends on what you hold. Asset holders start at Borrow / Sell; capital providers start at ODL Vault.

Depositing into the vault is live. The asset listings and the marketplace inventory are demonstrations for now — the rows you see are sample entries rather than assets ODL has approved or bought. The answers below say which parts of each page are real.

Approved RWAs is the inventory ODL will finance. ODL Exclusives is the subset ODL sourced itself. Borrow / Sell is where you act on an asset.

On the capital side: ODL Vault is the fund itself, Deposit is how you get into it, and Investor Dashboard is where your position and history will live. Liquidator Marketplace lists assets ODL is selling on.

Deposit is the only one of these wired to live data. The dashboard’s figures, the asset listings and the marketplace rows are all samples today, so read them as a preview of the format rather than as your account or as assets on offer.

You deposit USDC and receive odlUSD, the vault’s share token. The vault deploys that capital to whitelisted custodians who fund RWA lending, and as that book earns, the value of each odlUSD share rises.

There is no coupon to claim. Your odlUSD balance stays where it is and your position grows because each share is worth more USDC than it was.

Through signed attestations of the vault’s book value. Independent signers submit a reading and the vault only accepts one carrying enough valid signatures, so no single key can move the share price.

A separate Proof of Reserve feed publishes the reserves standing behind that book, and the oracle checks one against the other before a reading is accepted. The Investor Dashboard is where the resulting share price and your position will be shown.

The figures on that page are sample data today, not your account. Live position reporting is still being connected, so treat anything you see there as an illustration until we say otherwise.

The ODL Vault page lists them under Key Details — management fee, performance fee and its hurdle, minimum subscription, redemption cadence and lock-up, alongside the administrator, custodian, auditor and legal counsel.

Those figures are placeholders while the vault reporting feed is connected, not confirmed terms. The lock-up and redemption cadence in particular are not enforced by the vault at all — it takes open withdrawals today. Ask us to confirm any of these in writing before you rely on one.

The reason is always printed above the form. The usual ones: the vault is paused; its valuation has gone stale and it will not price a deposit until a fresh attestation lands; the amount is more than your USDC balance; or it is more than the vault’s remaining capacity.

Each of those stops the deposit before it starts, on purpose — beginning a deposit the vault would reject still costs you an approval in gas before the revert.

Any time, in principle. The vault takes open deposits and withdrawals — there is no lock-up holding your money in, and no queue you have to join to get it out.

Three things can block a redemption at a given moment: the vault is paused; its valuation has gone stale and needs a fresh attestation before it will price anything; or it does not hold enough spare cash right then, because capital is out working with custodians. Exits are first come, first served against the cash on hand, so tell us in advance if you plan a large one and capital can be recalled to meet it.

Two things to know. The lock-up and redemption cadence listed under Key Details on the ODL Vault page are placeholder figures — the vault does not enforce them today, and you should not plan around them either way. And the app has no redemption screen yet, so ask us at support@rwaodl.com and we will walk you through it.

The Investor Dashboard is the page for it: position value, yield to date, how the book is allocated, its largest holdings, performance over time, and a running list of deposits, redemptions and yield events.

Those figures are sample data at the moment, not your account. The one place showing your real movements today is Recent Activity on the Homepage, which lists the deposits and redemptions recorded on-chain for your connected wallet.

The curated inventory of institutional grade tokenized assets ODL will finance. The list itself is read-only — it is there to be searched and compared. Acting on one happens in Borrow / Sell, which selects from the same inventory.

The rows on that page are sample entries, not a live inventory. Treat the funds, their LTVs and their terms as an illustration of the format rather than assets ODL has committed to finance — ask us before planning around any of them.

Borrowing keeps the asset yours: you take liquidity against it and repay to get it back. Selling transfers it to ODL outright at an agreed price.

You cannot request either one in the app yet. Borrow / Sell lets you browse approved assets and read the terms on each, but the Borrow Against and Sell Asset options are not live — the steps after choosing an asset are still being built. Email support@rwaodl.com to start a request in the meantime.

Assets that have come onto ODL’s own book, offered on to institutional buyers with the underwriting on show. Browse the inventory by category, or search it by deal name, manager or asset class. Filtering by size and status is not available yet.

Those rows are sample deals, not positions ODL holds and is selling. Prices, discounts and maturities there are illustrative — nothing on that page is currently available to buy.

Privileged actions are gated on roles rather than on one owner key, and the governance ones run through a timelock: parameter changes, edits to the custodian whitelist, deploying capital, unpausing the vault, contract upgrades and role changes. Each of those is queued in public and can only execute once its delay has passed.

Alongside that, revaluing the book — recognising a gain or a loss on what is lent out, which is what moves your share price — takes a quorum of independent attestor signatures and has to land inside a sanity band. The Proof of Reserve feed publishes reserves separately, so the two figures can be checked against each other. Moving capital out to a custodian and back also changes the book, but under governance and without changing what a share is worth: cash and the deployed claim move in opposite directions.

Not everything waits for the timelock, and it is worth knowing which. A guardian key can pause the vault instantly. Deposit-whitelist edits and Proof of Reserve pushes take effect immediately. Revaluations go through the attestor quorum rather than the governance queue — and moving capital out to a custodian, or taking it back, changes the book with no attestor signatures involved at all. The timelock is a check on governance, not on day-to-day operations.

The audit report will be published here once it is complete. Until then the contracts have not been independently audited, so please size any position with that in mind. Write to support@rwaodl.com if you would like the current review material.