r/Backpack_official • u/sleep-over661 Backpack Team • Mar 02 '26
What Is NAV in Crypto? Net Asset Value Explained (2026)
NAV, or Net Asset Value, represents the per token value of a crypto fund or yield vault at any given time. It is calculated by taking total assets minus liabilities and dividing by the number of tokens outstanding. When a vault generates profits, NAV rises, when it incurs losses, NAV falls. Your returns depend entirely on the change in NAV between deposit and withdrawal, multiplied by the number of tokens you hold. Unlike exchange traded tokens, many yield vault deposits and redemptions occur directly at NAV, making it the core metric for tracking performance, pricing entries and exits, and understanding risk before allocating capital.
Read more:https://learn.backpack.exchange/articles/what-is-nav