> ## Documentation Index
> Fetch the complete documentation index at: https://docs.ix.finance/llms.txt
> Use this file to discover all available pages before exploring further.

# For institutions

> An allocator's one-page overview of IX RWA — the instrument, thesis, key terms, and where to verify every claim.

IX RWA gives allocators fractional, on-chain exposure to **income-producing AI compute** through a single index token, with reporting and reserves that are recomputable from public chain data rather than taken on trust. This page is the one-screen summary; every claim links to where you can verify it.

## The instrument

|                    |                                                                    |
| ------------------ | ------------------------------------------------------------------ |
| **Instrument**     | IX-CORE — an ERC-4626 index vault share (ERC-20, 6-dec)            |
| **Underlying**     | A book of GPU / AI-infrastructure assets, rented at market rates   |
| **Return source**  | Real net rental revenue, accrued into NAV (not token emissions)    |
| **Pricing**        | NAV-per-share = `totalAssets ÷ totalSupply`, recomputable on-chain |
| **Subscription**   | Deposit USDC, mint IX-CORE at NAV                                  |
| **Redemption**     | Redeem at NAV — instant up to available cash, else FIFO queue      |
| **Fees (testnet)** | Entry 0% · exit 0.10% · management 1%/yr streamed                  |
| **Network**        | Base (Sepolia testnet today; mainnet after audit)                  |
| **Custody**        | Non-custodial — the wallet is the account                          |

## Thesis

AI runs on compute, and compute is a **real, cash-flowing asset** whose ownership is concentrated in a handful of hyperscalers. IX RWA turns that asset base into an ownable, verifiable index — real yield from real utilization, priced and reported on-chain.

## How value flows

```mermaid theme={null}
flowchart LR
    LP[Allocator] -->|USDC| V[IX-CORE vault]
    V -->|mint at NAV| LP
    HW[GPU compute] -->|rented| REV[Net revenue]
    REV -->|accrues| V
    V -->|NAV/share rises| LP
    V -->|redeem at NAV| LP
```

## Trust & assurance posture

<CardGroup cols={2}>
  <Card title="Chain-as-truth" icon="link" href="/security/security-model">
    Positions and NAV are derived from verified on-chain events, never client input.
  </Card>

  <Card title="Proof of Reserve" icon="clipboard-check" href="/protocol/proof-of-reserve">
    Every NAV move is a recorded attestation with an evidence hash you can recompute.
  </Card>

  <Card title="Governance" icon="landmark" href="/security/governance">
    Least-privilege roles; upgrades move to multisig + timelock at Phase-2.
  </Card>

  <Card title="Audit" icon="file-shield" href="/security/reporting-and-assurance">
    Third-party audit is a prerequisite for mainnet; report published on launch.
  </Card>
</CardGroup>

## Diligence trail

* **Risk** — [Risk framework](/security/risk-framework) (register + mitigations) and [Risk disclosures](/security/risk-disclosures)
* **Economics** — [Fees & terms](/protocol/fees-and-terms), [Revenue & distributions](/protocol/revenue-and-distributions)
* **Valuation** — [Transparency & NAV](/protocol/transparency-and-nav), [Proof of Reserve](/protocol/proof-of-reserve)
* **Contracts** — [Smart contracts](/protocol/smart-contracts) (verified addresses on BaseScan)
* **Reporting** — [Reporting & assurance](/security/reporting-and-assurance)

<Warning>
  IX RWA is live on **Base Sepolia testnet** with clearly-labeled, simulated settlement. Nothing here is an offer, solicitation, or investment advice. Mainnet follows a third-party security audit — see the [roadmap](/why-ix-rwa#roadmap).
</Warning>