eUSX
Delta Neutral.
Market-neutral strategies that profit from market structure, not direction. 21.5% in 2024. 6.8 Sharpe ratio. 100% positive months across three years. Zero directional bets. Ever.
eUSX
How eUSX generates yield. Without taking directional risk.
Three independent mechanisms. All delta-neutral. All market-structure based.
Funding Rate Capture
Perpetual futures traders pay a structural premium to stay long. We capture that premium through delta-hedged positions — taking the other side, collecting the fee, hedging the exposure. Pure market structure extraction.
Basis Trading
When futures trade at a premium to spot, we buy spot and short futures — locking in the spread as the gap closes. Convergence is structural, not speculative.
Hedged Liquidity Provision
We provide liquidity to deep pools while fully hedging directional exposure. We earn trading fees and incentives. The hedge eliminates the impermanent loss risk.
Risk Profile
Low - delta-neutral, zero net directional exposure.
These are auditable, onchain numbers.
Find out more13.96%
net IRR over 3 years.
21.5%
in 2024. 0.3% max drawdown.
100%
positive months
6.8
Sharpe ratio (industry benchmark: 1.0+)
Partnerships
Frequently Asked Questions
A yield-bearing token. When you deposit USX into YieldVault, you receive eUSX. eUSX starts at 1:1 to USD and appreciates as the delta-neutral strategy generates returns.
It means we have no net directional bet on crypto prices. The strategy makes money from the structure of markets, spreads, premiums, and fee flows, not from predicting price direction.
Smart contract risk (mitigated by Halborn and Sep2 audits), counterparty risk on exchanges (mitigated by Ceffu + Copper custody), funding rate reversals (mitigated by diversification across 3 mechanisms). Historical max drawdown: 0.3%.
Yes. Standard redemption via DEX is instant. Instant Unlock for eUSX-to-USX redemption (bypassing T+7) is available to all users — stSLX holders can access it through their token holdings instead of paying standard unlock fees.