01
Each fund is an SPL token
Buy it, hold it, sell it like any other token. Every trade pays a 10% hook fee into the manager's trading reserve.
02
The manager trades external
The reserve routes through Jupiter and Raydium. P&L books against a high-water mark, so performance fees apply only on net new gains.
03
Profit buys your token back
When gains settle, the manager takes their performance fee and the rest buys your token off the curve. The floor price for holders only moves up.
? When does it open?
Open beta starts once the manager cohort has run the protocol on devnet for a few weeks. Invites go out in waves. Earlier signups, earlier seats.
? Do I need SOL or anything to join?
No, just an email. If you drop a wallet too, that puts you ahead of email-only signups for devnet airdrops and new fund launches.
? Is my email shared with anyone?
No. The list lives in our Resend account and goes nowhere else. You get one welcome email and the occasional beta update, both with an unsubscribe link.
? Can I be a fund manager?
Yes. Reply to the welcome email with a track record (Photon, BullX, or Axiom screenshots work) and we'll route it to cohort review.