# Advanced Strategies and RWA \[Distribute any managed strategy or tokenized real-world asset through a Specialized Vehicle] :::info In Railnet smart contracts, an Advanced Strategy is implemented as a **Specialized Vehicle**, and Railnet connects it through the generic **`ERC7540Vehicle`** adapter. ::: Not every yield lives in a public lending market or a standard vault. A fund manager runs a basis trade across venues, a credit desk originates loans off-chain, an issuer tokenizes treasuries or private credit and settles subscriptions on a daily or weekly NAV. A Specialized Vehicle gives all of these one shape: a non-custodial Safe that holds the positions, a policy engine that bounds what the manager may do, and an ERC-7540 vault that takes subscriptions and redemptions at a proposed and confirmed NAV. Because the entry point is an ERC-7540 vault, Railnet wraps it like any other asynchronous source and you distribute it through your Conduit. ## At a glance | | | |---|---| | **What it wraps** | Any managed on-chain strategy, or any real-world asset issued through an ERC-7540 vault (tokenized treasuries, private credit, funds) | | **Yield** | Whatever the strategy or asset earns, reflected in the vault's NAV per share | | **Vehicle** | `ERC7540Vehicle` (generic async adapter) over the Specialized Vehicle's vault | | **Flows** | Queued both ways, settled at each NAV update | | **Deposit assets** | The vault's `asset()`, usually a stablecoin | | **Status** | Live (see [Any ERC-7540 vault](/yield-sources/erc-7540)) | ## How Railnet integrates it The Specialized Vehicle's vault runs in full-async mode, so every deposit and redeem goes through its request queue. The `ERC7540Vehicle` batches your users' Queries into one vault request, waits for the valuation manager's NAV and the Strategy's settlement, and keepers claim the result; Queries move `PROCESSING → UNLOCKING → SETTLED`. `totalAssets()` follows the vault's NAV, and NAV guardrails bound how far the price per share can move in one update. Spawn parameters are those of the ERC-7540 adapter, with `allowRequestIncreases` set to `false`. For an RWA issuer, the same path applies with no on-chain trading at all: the Safe holds the off-chain claim, the valuation manager posts the fund's NAV, and subscriptions and redemptions settle against it on the issuer's cadence. ## Considerations * Settlement cadence is the strategy's or issuer's, not Railnet's. Quote the vault's own epoch to your users. * Read the policy engine before you distribute: it is on-chain and tells you exactly what the manager can do. See [Policy engine](/strategies/advanced/policy-engine). * The vault can whitelist participants; the Vehicle and its two queues must be on that list before spawn. * Manager and issuer risk belongs to the strategy. See [Risk management](/strategies/risk-management). ## Next steps