/ / 06 Transparency
Allocators should be able to see what's happening — not asked to take it on faith. The transparency model is structured around what can be observed directly on-chain and what is reconciled in internal reporting and statements.
/ / 01 Three layers
Verification operates on three layers, each designed to be separable. A failure or distortion in one is intended not to contaminate the others.
01
On-chain
Wallet balances, on-chain settlements, and reserve composition are public data. Allocators receive wallet identifiers and can verify them at any time using any block explorer.
02
Operational
Off-chain venue balances, trade activity, and operational events are reconciled daily against on-chain data and venue statements. Discrepancies are investigated and documented.
03
Independent
The fund is onboarding independent service providers — fund administrator, auditor, legal counsel — for NAV, financial reporting, and structural validation. Current status is shared with qualified allocators on request.
/ / 02 Wallet structure
Each wallet has a defined scope. Identifying which wallet does what is straightforward — and the boundaries between trading capital, reserves, and counterparty exposure are intentionally separate.
Fund mandate
Capital, separated by function
No single bundled wallet — scope is defined per address and observable on-chain.
Reserve
Holds the bulk of capital outside of active trading positions. Move-permissions tightly restricted.
Working
Funds capital active on venues. Sized to operational needs, not the whole book.
On-chain
Capital deployed into vetted pools and protocols. Activity is on-chain and observable by anyone.
Hedge
Holds positions offsetting the directional exposure of trading and on-chain wallets.
/ / 03 Reporting cadence
Reporting runs on a defined cadence — from continuous on-chain visibility through to audited annual statements.
01Continuous
Wallet balances and on-chain settlements observable directly via block explorers using identifiers shared with allocators.
02Within 10 BDs
Net returns, attribution, exposures, risk metrics, capital activity, operational notes. Delivered through the LP portal.
0310 calendar days post-quarter
Longer-form review of positioning, regime context, capacity, and risk policy. Includes any material updates to the mandate.
04Post-fiscal year
Audited financial statements at the fund level, prepared by independent auditor once appointed. See Infrastructure for current status.
05Within 1 BD
Notification of material market events affecting positioning, including limit triggers and infrastructure changes.
Wallet identifiers, reporting samples, and reconciliation methodology shared after introduction.