GET /api/mpt/:mptId/nav — Unit Valuation by Share Token

Use this endpoint when you hold a vault’s share token and need to value it, but have no direct knowledge of which vault issued it. This is the route that a share token’s own metadata points at: it is what the nav_url pointer in the MPTokenIssuance metadata resolves to. Pass units to receive the value of a specific pledge without reimplementing decimal arithmetic yourself.

Parameters

string

required

48-character hex MPT issuance ID. Case insensitive.

string

Number of share units to value as a pledge (a count of token units, as a decimal string). When present, the response includes a pledge block with valueHeld, valueReported, and overstatement.

This route sends Cache-Control: public, max-age=4 and Access-Control-Allow-Origin: *. It is designed to be called by any party that holds the share token — no prior relationship with Orma is required.

Request

curl -s "http://localhost:8787/api/mpt/000000014D667775372D5B78E07FFF294678C7F9CE82AFBC/nav?units=1000000"

Response

The body is identical to GET /api/vaults/:vaultId/nav with one additional block when units is supplied:

{
  "serverTime": "2026-09-12T22:20:22Z",
  "ledgerIndex": 5263343,
  "schema": "orma.nav/1",
  "asOf": "2026-09-12T22:20:22Z",
  "instrument": {
    "kind": "vault-share",
    "vaultId": "5763707D11EA19D1B5FF04E4EBA4F9336057955CDE65B725D1FF3EF2A96CB0E5",
    "shareMptId": "000000014D667775372D5B78E07FFF294678C7F9CE82AFBC",
    "unitsOutstanding": "51000000",
    "asset": { "kind": "XRP", "currency": "XRP", "issuer": null, "mptIssuanceId": null },
    "vaultKind": "ClosedEnded",
    "phase": "Investment",
    "redemptionAt": "2026-09-13T15:11:47Z"
  },
  "unitValue": {
    "held": "0.803922",
    "reported": "1.000000",
    "divergenceBps": 1961,
    "basis": "assets net of recognised loss, divided by units outstanding"
  },
  "valuation": {
    "currency": "XRP",
    "scale": 6,
    "perUnitHeld": "0.803922",
    "perUnitReported": "1.000000"
  },
  "assessment": {
    "grade": "AA",
    "gradeNumeric": 89,
    "methodVersion": "1.0.0",
    "advisory": true
  },
  "provenance": {
    "network": "devnet",
    "source": "devnet",
    "assetsTotal": "51000000",
    "lossUnrealized": "10000000",
    "unitsOutstanding": "51000000",
    "recompute": "(assetsTotal - lossUnrealized) / unitsOutstanding",
    "buildVersion": "3.4.0-rc5"
  },
  "pledge": {
    "units": "1000000",
    "valueHeld": "803922",
    "valueReported": "1000000",
    "overstatement": "196078"
  }
}

Response Fields

All fields are identical to GET /api/vaults/:vaultId/nav. The pledge block is added when units is provided:

object | null

Present only when the units query parameter is supplied.

Show pledge fields

string

The number of units valued, echoed from the request parameter.

string

Value of units at navCorrect, in drops. For example, 1 000 000 units at 0.803922 = 803922 drops.

string

Value of units at navNaive, in drops. What a tool reading AssetsTotal alone would report.

string | null

valueReported - valueHeld, in drops. How much the naive valuation overstates the pledge. null when the resolved document carries no unitValue — see contract 2.

The units parameter exists so a lender does not have to reimplement decimal arithmetic. One million units against a held NAV of 0.803922 is worth 803922 drops. A tool reading AssetsTotal alone marks the same pledge at 1000000 — an overstatement of 196078 drops, or 19.61%.

This route never follows a metadata pointer. It is what the pointer points at. A route that followed its own pointer would create a loop. Use GET /api/mpt/:mptId/resolve to walk and inspect the full pointer chain.

Overview

Vaults

Share Tokens

Diagnostics

GET /api/mpt/:mptId/nav — Unit Valuation by Share Token

Parameters

Request

Response

Response Fields

​Parameters

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Parameters

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