The Problem
The stablecoin market exceeds $300B, yet most holders earn nothing. Those seeking yield face difficult tradeoffs:| Category | How It Works | Considerations |
|---|---|---|
| T-Bill Wrappers | Tokenize government bonds | Returns capped at subpar rates; limited upside |
| Basis Trade Protocols | Capture funding rates from perpetual markets | Yields highly variable; can go negative when sentiment shifts |
| Credit Protocols | Lend to borrowers | Exposed to credit/default risk; collateral often illiquid |
| High-Yield Stables | Various strategies | May carry significant drawdown risk or complexity |
The Tori Approach
Tori takes a different path: market-neutral strategies that institutional traders have used for decades.| Aspect | Our Design |
|---|---|
| Strategy Type | Market-neutral arbitrage |
| Directional Exposure | Structurally hedged, not directional |
| Yield Source | Pricing opportunities, not market direction |
| Liquidity | Designed for composability |
Key Differentiators
1. Strategy Heritage
Our strategies aren’t DeFi experiments. They’re institutional approaches that have been refined over decades in traditional markets, now accessible on-chain.2. Global Access
Infrastructure that sources opportunities from markets worldwide. Available to anyone without geographic restrictions or accreditation requirements.3. DeFi Native
strUSD is designed as a composable asset. Use it across the DeFi ecosystem: as collateral, in lending protocols, or wherever stablecoins are accepted.4. Transparency
| Component | Provider | Description |
|---|---|---|
| Proof of Reserves | Accountable | Real-time, independent attestations |
| Security Monitoring | Hypernative + Internal | 24/7 threat detection |
| Smart Contract Audits | Sherlock | Comprehensive security coverage |
No Free Lunch
Every yield source involves tradeoffs. Ours include:- Temporary Drawdowns: Delta-neutral positions may fluctuate before converging (expected behavior)
- Capacity: Yields may compress as scale increases
- Complexity: Institutional strategies require sophisticated infrastructure
Our Vision
We’re building infrastructure to connect proven institutional strategies with DeFi’s permissionless rails, making opportunities that were previously inaccessible available to everyone.Next Steps
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Strategy
How we generate yield