Vauld RDA-related Q&A as of 30 Aug 2023
Updated over 2 years ago
This Vauld FAQ explains the second round of Initial RDA bidding and clarifies who can bid, how replacement works, and how validation rules apply.
Second-round schedule and purpose
The second round of Initial RDA bidding was opened from 31 August 2023 00:00 SGT to 4 September 2023 23:59 SGT.
The stated purpose was to give creditors more time, improve bid mix, and increase participation for users seeking liquidity.
Who can participate and what happens to earlier bids
Only Variable Recoveries Track (VRT) creditors could bid in Initial RDA rounds; Pro-Rated Track (PRT) creditors were not eligible for this process.
If no new bid is submitted, the previous bid and its timing remain unchanged.
If a new bid is submitted, it fully replaces the prior bid, including timing attributes.
Eligible VRT creditors who did not bid earlier could still submit in this second round.
Outcome disclosure during the live process
While Initial RDA remained in progress, outcome commentary for the first round was not provided.
A combined performance report covering both rounds was expected after completion.
Input validation and acceptable bid ranges
Bid-cell validation was used to reduce automatic disqualification by preventing values outside acceptable USD recovery ranges.
For Converted Token Balances, the guidance indicated an acceptable token bid range of 30% to 55%.
This range reflected the conversion mechanism designed to neutralize token price movement effects from 4 July 2022 to bid assessment timing.
- Validation helps filter disqualifying inputs before submission
- Converted Token Balance guide range: 30% to 55%
- Out-of-range values are subject to automatic disqualification