Documentation
Frequently Asked Questions
Everything about the SPA research paper track.
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:Can I invest today?
A:SPA is a research paper-track today — it is NOT open to external capital (going live would need a separate go-live decision and a legal review; 30 paper days do not lead there by themselves). So there is no minimum and nothing to invest in. If it ever opens — only after a separate go-live decision and a legal review — terms would be published first. 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:Earn DeFi is NOT a high-yield product. The Conservative strategy has a research target of up to 6% a year — a goal, not a result; its measured result is ~4.9% a year, realized on paper to date. 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 halts new entries and position increases, 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. Any terms would exist only after a separate go-live decision and a legal review. Nothing here is an offer or a solicitation.
Q:How do fees work?
A:No fees: this is a paper stage and nothing is offered. Commercial terms only after go-live and a legal review.
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 is the book 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 halts 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:Earn DeFi is in 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). The track now stands at 112 evidenced days. Paper stage: live capital is not open; opening it requires a decision by the project owner and a legal review — not just a day count. See /track-record and /status for the live per-day count.
Q:Is there an application process?
A:No. SPA accepts no capital and no applications: it is a research paper track. You can leave an address on the home page to receive the 30-day paper report of a portfolio — that is a report, not an offer.
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Questions about the research and the paper portfolios — a conversation, not an offer: no capital or applications are accepted. We respond within 24 hours.
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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 →