> For the complete documentation index, see [llms.txt](https://venzofinance.gitbook.io/venzofinance-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://venzofinance.gitbook.io/venzofinance-docs/access.-issue.-operate./structured-products.md).

# Structured Products

The two product families on Venzo, how they differ, and the product range the infrastructure supports.

A structured product packages a strategy or a basket of assets into one product with defined rules for what it holds, how it is valued, who can subscribe and how participants exit. Venzo offers two product families, each built on its own architecture.

* [**Curated Vaults**](/venzofinance-docs/access.-issue.-operate./structured-products/curated-vaults.md) suit a return that an operator must produce, and exposures that need pooling to work.
* [**Onchain Token Portfolios**](/venzofinance-docs/access.-issue.-operate./structured-products/onchain-token-portfolios.md) suit a defined basket held directly, where ownership, per-asset control and transparency matter most.

<figure><img src="https://534920511-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FUOkB6OkoR713tjtlF6Z6%2Fuploads%2Fna6T5QEEUbZLBryIgThp%2Ffig-vault-or-otp.png?alt=media" alt="Curated Vault compared with Onchain Token Portfolio across holdings, decision rights, source of return, accounting and exit"><figcaption><p>A Curated Vault pools deposits under a curator's mandate. An OTP keeps every constituent in the participant's own account under a published methodology.</p></figcaption></figure>

|                         | Curated Vault                                                       | Onchain Token Portfolio                                                         |
| ----------------------- | ------------------------------------------------------------------- | ------------------------------------------------------------------------------- |
| **Participant holds**   | Receipt Tokens, a claim on a pooled vault                           | The constituent assets, in the participant's own account                        |
| **Holdings decided by** | The curator, within the approved mandate                            | The published methodology; the list changes only on the source or rule it names |
| **Source of return**    | Strategy income: lending interest, funding, credit spreads and fees | Market prices of the constituents                                               |
| **Accounting**          | NAV per share, struck at each settlement                            | Token balances, readable onchain                                                |
| **Exit**                | Liquid or epoch-based redemption                                    | One transaction back to one asset, or any constituent sold on its own           |
| **Dominant risk**       | Strategy loss, or a contract failure affecting the pool             | Constituent prices falling; onchain execution risk; liquidity risk              |

Both families are non-custodial, both enforce a published rule set, and both publish their operating history.

## Product coverage

The infrastructure behind Venzo supports a wide range of structured products, and new products join as curators and issuers are onboarded. The lineup live on Venzo is set out in the [Live Product Showcase](/venzofinance-docs/access.-issue.-operate./structured-products/live-product-showcase.md).

| Category                          | What it covers                                                                               |
| --------------------------------- | -------------------------------------------------------------------------------------------- |
| Market-neutral strategies         | Delta-hedged strategies across funding, basis, liquidity provision and statistical arbitrage |
| Arbitrage                         | Strategies that capture price differences between trading venues                             |
| Private credit                    | Structured credit products built from private-debt mandates and regulated counterparties     |
| Digital asset income              | Structured lending products backed by major digital assets                                   |
| Tokenized RWA products            | Onchain Treasuries, tokenized fixed income, RWA baskets and structured-income products       |
| Index and portfolio products      | Rules-based baskets of tokenized equities, including Index, Guru and Thematic OTPs           |
| Strategy baskets                  | Rules-based products built from trend, macro and other liquid strategies                     |
| Project and infrastructure credit | Long-duration products backed by infrastructure and special-situation lending                |