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GP Digital participates selectively in DeFi TVL deals—short- to medium-duration liquidity commitments that help protocols grow Total Value Locked while offering attractive on-chain yields.**
We focus on:
– Structured, negotiated TVL deals where terms, incentives, and risk-sharing are clear, rather than blindly farming emissions.
– Principal-conscious design: preference for strategies with collateralisation, circuit-breakers, or hedges to control smart-contract, oracle, and market risk where feasible.
– Liquidity and exit control: we avoid structures with opaque lockups or fragile mechanics, favouring deals where capital can be reduced or exited as protocol, counterparty, or market risk changes.
TVL deals are evaluated using the same disciplined DD lens: quantitative risk/return and scenario analysis on one side, and deep protocol and counterparty due diligence on the other (team quality, security audits, governance, tokenomics and incentive sustainability).
GP Digital allocates to a focused set of external crypto hedge funds to access specialist trading teams and mandates that are not efficient to replicate in-house. The goal is to add genuinely differentiated, crypto-native return streams with robust governance and institutional infrastructure.
Our hedge fund selection follows a rigorous, multi-layered due-diligence framework, including:
– Investment & Risk: clarity of mandate, edge definition (market-neutral, basis, volatility, quant, discretionary), risk budgeting, historical drawdowns, capacity, and behaviour in stressed markets.
– Operational & Governance: independent administrator and auditor, custody setup, risk and compliance functions, NAV calculation and valuation policies, reporting standards, and business continuity planning.
– Alignment & Transparency: fee structure, liquidity terms, communication cadence, transparency on underlying positions/venues, and willingness to engage in ongoing dialogue.
Funds are monitored continuously via performance, drawdown, and correlation tracking, as well as periodic DDQ refresh and manager calls. Allocations are resized or redeemed if risk, governance, or fit with the GP Digital portfolio deteriorates.
GP Digital continuously monitors and screens a curated universe of systematic SMA strategies.** These include mean reversion, momentum, trend-following, counter-trend, funding-rate and basis arbitrage, statistical arbitrage, as well as volatility and options overlays. Each strategy is subjected to a rigorous, in-house three-step DDQ process before capital is allocated:
Step 1 – Quantitative & Risk Analysis:
Track record normalisation, Sharpe/Sortino and drawdown analytics, regime behaviour, liquidity profile, capacity limits, exchange/venue exposure, and stress tests on major market dislocations.
Step 2 – Operational & Behavioural Review:
Trading process, risk-off rules, kill switches, API key governance, team incentives, infrastructure resilience, and alignment of interests.
Step 3 – Live Test Allocation & Ongoing Monitoring:
A live test allocation to observe real-time execution quality, slippage, drawdown behaviour and correlation fit, followed by continuous monitoring before any decision to scale capital.
Only strategies that pass all stages and fit the existing portfolio’s correlation and risk budget are onboarded. Position sizing and access (e.g. sub-accounts, API permissions, margin limits) are then calibrated to ensure each SMA contributes to overall portfolio diversification rather than hidden concentration.