How Do Concrete Vaults Actually Work?

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You deposit into a vault.
You receive shares.
Your balance grows over time.

Simple enough… right?

But then you see terms like eRate and NAV, and suddenly it’s not so simple anymore.

If you’ve ever wondered “what’s actually happening under the hood?” — this guide breaks it down in plain language.

1️⃣ Start With the User Perspective

Let’s imagine you just deposited into a Concrete vault.

• You put in your funds
• You receive vault shares
• You open the app and see:
• eRate going up 📈
• NAV changing
• Your balance increasing

And the natural question is:

What do these numbers actually mean?

2️⃣ Vault Shares & eRate (The Simple Way)

Think of a vault like a big jar of money.

When you deposit, you don’t just “add money” —
you receive shares of that jar.

👉 Vault shares = your ownership in the vault