Documentation
Frequently Asked Questions
Everything you need to know before becoming a member of the SPA Family Fund.
Q:What is SPA?
A:SPA is an algorithmic DeFi strategy focused on capital preservation and steady yield. We work exclusively with stablecoins to minimise volatility. The system operates autonomously: a daily cycle collects live APY/TVL data from whitelisted protocols, runs it through a deterministic RiskPolicy, and rebalances the portfolio.
Q:What is the minimum investment amount?
A:SPA is a research paper-track today — it is NOT yet open to external capital (go-live is gated on completing the 30-day evidenced track + legal review). So there is no minimum to quote yet. When it opens, terms will be published transparently. For now you can request a research conversation via the pilot page — that is a conversation, not an offer.
Q:What is the expected return?
A:SPA is NOT a high-yield product. The Conservative tier targets up to 6% net APY — in practice the RWA cash floor (~3.4%) plus roughly 50–150 bps of risk-adjusted edge; ~3.3% realized (track-to-date) on the live paper book (current blended holdings ~4.5%). We deliberately REFUSE the 10–15% opportunities others chase: on our own analysis those returns are compensation for tail risk (depeg, unwind, liquidation), not free yield. The edge is honest risk measurement, not chasing the highest number. APY is variable and not guaranteed; past paper performance does not guarantee future returns. During market stress or yield compression the deterministic risk gate de-risks and, at deeper drawdown, moves to cash.
Q:Is there a lock-up period?
A:No product terms — including lock-up — are set yet, because SPA is a research paper-track not open to external capital. When it goes live (after the evidenced track + legal review), any terms will be published transparently. Nothing here is an offer or a solicitation.
Q:How do fees work?
A:No fee structure is set yet — SPA is a research paper-track, not accepting external capital. When it opens (after the evidenced track + legal review), the fee model will be published transparently, not negotiated behind closed doors. This is research / advisory, not an offer.
Q:What is the CPA methodology?
A:Capital Preservation Algorithm (CPA) is our approach to backtesting using Point-in-Time data. Only protocols that existed on the simulation date are included in the calculation. This eliminates look-ahead bias — the most common cause of overstated backtest results in DeFi. Every protocol in the whitelist carries a launch_date field — the simulator rejects any protocol whose launch date is later than the simulation date.
Q:Why do you hold 86.97% cash in the backtest?
A:In 2022–2023 most DeFi protocols did not yet exist or had no verified on-chain history. Our strict Point-in-Time methodology reflects this honestly: we do not use retrospective data, we do not extrapolate, and we make no assumptions. Capital that cannot be allocated to a CLEAN_INCLUDED protocol is held as USDC. This is more honest than showing unrealistic returns by retroactively including protocols that did not yet exist.
Q:How are my funds protected?
A:A Gnosis Safe (multisig) is used — no transaction goes through without confirmation from multiple signers. A built-in two-tier kill switch responds to peak-to-current drawdown: at ≥5% (SOFT) the desk de-risks — halting new entries and any position increase (holds and reductions still allowed), without liquidating; at ≥10% (HARD) it moves the whole book to cash. Daily monitoring of all positions is logged to an immutable JSON journal. Access to the execution domain is isolated from read-only analytics.
Q:When is the launch?
A:We are going through Paper Trading — a 30-day evidence-gathering period with $100,000 USDC of virtual capital. We audited our own track and reset it: only days backed by a real daily-cycle log count, anchored at 2026-06-22 (the earlier flat-rate backfill does not count). We are still accumulating the 30 evidenced days. After passing the GoLiveChecker (29 criteria), 30 days of gap_monitor continuity, and a manual Owner review, we plan to go live around 2026-07-21. See /track-record and /status for the live per-day count.
Q:How do I apply?
A:Contact us via the contact form on the site. We perform KYC manually and review each application individually. Once approved, you will receive an investor agreement and onboarding instructions.
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Personal research project in paper validation — not investment advice, not a regulated service, not raising capital; results are simulated. Full disclaimer & risk disclosure →