Paper Trading Mode · Go-live target: August 1, 2026

Institutional-Grade DeFi Yield.
Verified Daily.

A systematic strategy that monitors 8+ DeFi protocols, enforces hard risk gates — and shows you everything. Built for family offices allocating $25K–$250K to onchain stablecoins.

74% of family offices conduct 2–3 months of due diligence. We built our track record phase to match that timeline — every allocation is logged, every risk gate is public.

Protocols we monitor Aave V3 Morpho Compound V3 Yearn V3 Euler V2 Maple Pendle

Live Strategy Metrics

Fetched from API every 60 seconds · Paper trading data

System operational
8
days
Track Days
1.42
Sharpe (30d)
-0.31%
Max Drawdown
6.8%
YTD APY
16/26
passed
Go-Live Criteria
Risk Policy
Active v1.0
Risk Blocks (30d)
2 logged
Protocols
8 monitored
Status
◐ PAPER
Last Cycle
today
Go-Live Target
2026-08-01
Connecting…

All data reflects simulated paper trading on a virtual $100,000 USDC portfolio. Past simulation performance does not guarantee future live performance.

Strategy Methodology

How the System Works

Fully deterministic. No human discretion in daily execution. No LLM in the risk or execution path. Every decision has a documented rule.

Step 1 · 08:00 daily

Daily APY Scan

At 08:00 UTC, the cycle runner fetches live APY and TVL data from 8+ whitelisted DeFi protocols via DeFiLlama's yields API. Each protocol adapter is read-only — it observes, never writes.

  • Aave V3, Compound V3, Morpho Steakhouse (Tier 1)
  • Morpho Blue, Yearn V3, Euler V2, Maple (Tier 2)
  • Pendle PT (Tier 3-SPEC, advisory only)
Step 2 · Deterministic gate

Risk-Gated Rebalancing

Every proposed allocation passes through RiskPolicy v1.0 — a hard-coded, non-overridable gate. If any limit is breached, the rebalance is blocked and logged to data/risk_policy_blocks.json.

  • TVL floor ≥ $5M per pool
  • Per-protocol cap: 40% (T1) / 20% (T2)
  • Kill switch: portfolio drawdown ≥ 5% closes all
  • Min cash buffer ≥ 5% · APY range 1–30%
Step 3 · Daily compounding

Compounding Yield, Logged

Approved rebalances execute, daily yield accrues to positions, and the equity curve updates — all written atomically to versioned JSON files. Tournament of 10+ strategies selects the best allocation via Sharpe, Calmar, Ulcer, and Rachev metrics.

  • Equity curve: 365-day rolling window
  • Every trade logged to data/trades.json
  • GoLiveChecker: 26 criteria before real capital
LLM_FORBIDDEN

No AI in the execution path

The risk, execution, and monitoring components are strictly forbidden from LLM calls. Prompt injection into capital allocation is a critical attack vector — our architecture treats it as such. Every rebalance decision traces to a deterministic rule in spa_core/risk/policy.py.

Why Trust Us

Transparency Is the Product

Sophisticated investors verify before they commit. Everything below is checkable, not marketing copy.

30-Day Verified Track Record

Paper trading started June 10, 2026. Day counter, equity curve, and all trades are public. No cherry-picked windows.

Deterministic Risk Engine

RiskPolicy v1.0 is a hard-coded gate with published parameters. Cannot be overridden by any agent, strategy, or human. Kill switch at 5% drawdown.

Open Methodology

Strategy logic, risk parameters, adapter registry, and tournament evaluator are all documented. Every change is a git commit.

Audited Protocols Only

We only monitor protocols with multiple independent audits. T1 protocols (Aave, Morpho, Compound) have 5+ audits. T2 capped at 50% of portfolio.

The Data IS the Social Proof

We're building the track record you deserve.

Most DeFi yield products ask you to trust them. We're asking you to watch us first. For 30+ days before any real capital, our strategy runs against live market data — every rebalance logged, every risk gate enforced, every underperforming protocol replaced. When we go live, you'll know exactly what you're getting into.

"We built the risk policy so that even when we want to override it — we can't."
26
Go-live criteria
16 currently passing
8+
Protocols monitored
DeFiLlama live feed
$5M
TVL floor per pool
Hard policy limit
5%
Drawdown kill switch
Non-overridable

Market Positioning

Where SPA Fits

The market has split between retail auto-compounders (Yearn, Morpho — zero fees, no investor relations) and large institutional curated vaults ($1M+ minimums). Family offices with $25K–$250K DeFi exposure have nowhere to go. That's the gap SPA fills.

Platform Focus Fee Structure Track Record Family Office Ready
Enzyme Finance
enzyme.finance
On-chain fund infrastructure. Manager-run vaults. Institutional shift via Canton Network. Flexible: up to ~2% mgmt + performance fee + 0.25% protocol MLN burn Live since 2019. $184M TVL (declining). Partial — requires active fund manager; no investor portal
dHEDGE / Chamber
chamberfi.com
Community vaults + leveraged token products (Toros). Retail-leaning. ≤3% mgmt + performance fee (HWM). $2M/yr protocol revenue. Live. $33–50M TVL (volatile). Rebranding risk. No deterministic risk policy; no investor portal
Yearn Finance v3
yearn.fi
Auto-compounding yield aggregator. DAO-governed. ERC-4626 standard. ~2% mgmt + 20% performance. yvUSD vault: 0% (temp). Live since 2020. $270M TVL. Nov 2025 exploit on legacy pool. No KYC, no investor portal, no custom risk policy
Morpho / Maple
morpho.org · maple.finance
Curated institutional vaults (Morpho) + real loan portfolios (Maple). Morpho: 0%. Maple: 0.7–0.9% all-in. Morpho: $5.8B TVL. Maple: $4.6B AUM. Minimum AUM $1M+. Not structured for family office onboarding
SPA (target)
earn-defi.com
Autonomous algo optimizer for family offices. $25K–$250K tier. No human fund manager. 1% mgmt (Phase 1) + 15% performance + HWM. 0% during paper period. 30-day public paper track record
First to build this before launch
Built for it: investor portal, Telegram alerts, KYC onboarding

SPA is not competing with Morpho or Maple in the large-AUM institutional segment. The target is the underserved middle: crypto-native family offices who want DeFi yield without outsourcing discretion to a human fund manager.

Fee Structure

Simple, Aligned, Transparent

Fees are designed so we only win significantly when you win. The high-watermark means we never collect performance fees on recovered losses.

1.5%
Annual Management Fee

Charged annually on assets under management. Covers infrastructure, strategy development, monitoring, and investor reporting.

  • Accrued daily, settled at period end
  • 0% during paper trading period
  • Competitive vs. market (1–2% standard)
15%
Performance Fee + High-Water Mark

15% of net profits above the high-water mark. If the portfolio declines, no performance fee is charged until the previous peak is recovered.

  • High-watermark: no double-charging on recoveries
  • Below market: industry standard 20%
  • Only on net gains — losses reduce the base

How the High-Water Mark Works

Example start
Portfolio: $100,000
High-water mark set at $100K
Year 1: +8%
Portfolio: $108,000
Perf fee: 15% × $8K = $1,200. HWM → $108K
Year 2: flat recovery
Portfolio recovers to $108K
No performance fee — HWM not exceeded

Industry comparison: Yearn charges 2% mgmt + 20% perf. Maple: 0.7–0.9% all-in. SPA at 1.5% + 15% is below the hedge fund standard while covering the operational cost of a deterministic autonomous system.

Current Phase: Paper Trading

Watch Before You Commit.

The dashboard is public. Every trade, every risk decision, every equity curve update is there. Start your due diligence now — we'll tell you when we're ready for capital.

⚠ Risk Warning: Investing in crypto-assets and DeFi protocols involves significant risks, including complete loss of capital. Crypto-assets are highly volatile and unregulated in many jurisdictions. Past performance does not guarantee future results.

Paper Trading Disclosure: This platform is currently in paper trading mode. All performance data reflects simulated trading on a virtual $100,000 USDC portfolio since June 10, 2026. Simulated performance does not account for live slippage, liquidity impact, or smart contract execution risk. Go-live target: ~2026-08-01 pending all 26 GoLiveChecker criteria.

Regulatory Status: SPA is NOT regulated by ESMA, the EBA, or any national competent authority. This does not constitute investment advice, financial advice, or a solicitation to invest in any jurisdiction.

Restricted Jurisdictions: Not available to US Persons (as defined under Regulation S of the US Securities Act of 1933), or residents of Russia, Belarus, Iran, North Korea, Cuba, Syria, or other sanctioned jurisdictions. By accessing this service you confirm you are not a restricted person.

DeFi-specific risks: Smart contract vulnerabilities and exploits · Protocol insolvency · Stablecoin de-pegging · Oracle manipulation · Regulatory actions · Technology failure. Funds in DeFi protocols are not covered by any investor compensation scheme.

Not financial advice: Nothing on this website constitutes financial, investment, legal, or tax advice. Consult qualified professionals before making investment decisions.