How it works

Mint flow

The MAG7 mint path takes ETH, routes through USDG, and acquires each underlying tokenized stock through the configured Uniswap V4 adapter route. The frontend quotes each component route before submit and passes per-component minimum outputs to the engine.

Redeem flow

Redeem burns MAG7 box tokens and returns either the underlying stocks or ETH. ETH redemptions use reverse adapter routes and user-provided minimum outputs. If one component leg cannot complete, the protocol records a claim for that component instead of treating the whole exit as successful.

Custody

Underlying stocks for a box are held by a dedicated BoxVault. The vault is controlled by BoxEngine; users access assets through mint, redeem, and claim paths.

NAV

NAV uses Chainlink-style stock/USD feeds and the ETH/USD feed for display and sanity checks. Feed staleness is surfaced as market closed in the interface where appropriate.