Premium
Glossary
Premium
How far the on-chain price sits above (or below) NAV, in basis points. One basis point is 0.01%.
Not the same as
Not a return — a gap between two prices of the same claim.
How the desk uses it
Every row in the registry carries this word where it applies, from the same definition you are reading. The site, the Office, the MCP tools and the CLI all use this one text.
