Pen-X Documentation
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Pricing Strategy

Net Asset Valuation (NAV)

The underlying assets fully back the Pen-X Pension Fund. Each fund has an intrinsic value equal to the assets it represents. This is known as the Net Asset Value (NAV).
Every Pen-X fund can be minted or redeemed at this value at any time. Read about how to invest in the Pen-X Pension Fund.​

Market Price

Pen-X Governance tokens (PENX) are freely traded on centralized and decentralized exchanges, enabling the Fund's price to fluctuate around the NAV.
Discrepancies between the NAV and market price create arbitrage opportunities, maintaining the peg against the underlying assets.