Depositor Journey

#1. Obtain USDG

The desk's accounting asset is USDG on Robinhood Chain (6 decimals). Official addresses are listed in Networks. SEAT does not sell or bridge USDG; acquiring it is out of the protocol's scope.

#2. Choose a desk and deposit

In the blotter, connect a wallet on a chain with a wired vault (46630 today; 4663 once a capped desk is broadcast). If the factory has multiple desks, a desk picker appears (also addressable via ?desk=<vault>).

Depositing is two transactions:

1. USDG.approve(vault, amount)
2. DeskVault.deposit(amount)

The vault accrues fees, checks the deposit cap (mainnet: 50,000 USDG of equity after the deposit; testnet: uncapped), mints shares pro-rata to equity (shares = assets × totalShares / equity; 1

on an empty desk), and takes the USDG. Deposits are blocked while the vault is paused.

#3. Hold seat shares

Your position is sharesOf[you] / totalShares of the desk. The blotter shows your shares, NAV, cash, the leader, and the desk's fill tape. Shares are internal accounting — not a transferable token — so there is nothing to stake, send, or lose in a wallet drain.

#4. The desk participates in leader activity

While you hold, the desk copies its leader under the risk rules: session-scaled, capped, fail-closed. NAV per share moves with the desk's positions; fees accrue as described in Fees & High-Water Mark. You can watch every decision on the tape — including the copies that were skipped and why.

#5. Redeem

DeskVault.redeem(shares) burns your shares and computes the USDG owed at current NAV per share:

• Instant: if the vault is not paused and cashUsdg covers the amount, USDG is transferred immediately (Redeem).
• Queued: otherwise the request is appended to the withdrawal queue (WithdrawQueued) with the amount locked in. processWithdrawals(maxCount) — callable by anyone, unpaused only — pays queued requests in FIFO order as cash becomes available (e.g. after the desk sells positions).

Redeeming while the vault is paused is possible, but always lands in the queue (instant payment requires unpaused).

#6. What you bear

• Market risk on the desk's Stock Token positions, including gaps and slippage on copies.
• Fee drag: 10% of new profits above the high-water mark plus 2%/yr AUM.
• Queue risk: instant redemption depends on free cash; a fully deployed desk pays out only as positions are sold.
• The protocol risks documented in Security and the risk disclosure.