spBTC
Sova Prime BTC
Total Value Locked
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APY (30d Avg)
7%
Risk-adjusted yield
Conversion Rate
1.000000
BTC per spBTC
Sova Prime BTC Yield vault generates returns through delta-neutral strategies used by institutional trading desks. The vault captures spreads between Bitcoin spot and derivatives markets while maintaining zero net BTC exposure. Returns come from structural market inefficiencies, not price movements.
Strategy Details
- •Basis trading: Long spot BTC + short dated futures to harvest contango spreads
- •Funding rate capture: Long spot/short perpetuals collecting positive funding
- •Market neutral: Fully hedged positions eliminate Bitcoin price risk
- •Conservative limits: Max 1.5x leverage, 50% LTV targets, 15% venue caps
- •Automated protection: Rotates to cash when spreads compress below 2%
Low directional risk through delta-neutral construction. Primary risks include counterparty/venue failure, funding rate compression, and smart contract risk. Mitigated via custody segregation, exposure limits, and automated deleveraging.
Contract Addresses3 Live3 Total
All contracts are verified and audited. Click addresses to view on block explorer.
Resources
Documentation
Learn about vault strategy and features
Security Audit
View smart contract audit reports
GitHub
Explore the source code
Discord
Join the community discussion
All resources are maintained by the Sova team. Join our community for support and updates.