Foundation Investor Data Room
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FOUNDATION
The platform connecting institutional-grade funds to the on-chain economy
DeFi Native Yield
Reflexive. Unsustainable. Compressed by competition and declining on-chain activity.
Institutional Credit (Tokenized)
96% senior secured. Real credit. Audited quarterly. Up to 29% with looping.
The highest sustainable yields in crypto are coming from institutional RWA The problem is access.
$500K Minimums
Designed for institutions
Most tokenized credit requires $50K-$500K minimum investment. Family offices and pension funds only. The everyday DeFi user is priced out.
Full KYC / Accreditation
Walled garden access
Securitize, Ondo, and other issuers require full accredited investor verification. Non-accredited? You're locked out entirely.
No Liquidity
Capital is stuck
Positions are locked until quarterly or monthly redemption windows. No exit. No collateral use. No DeFi composability.
The assets are institutional-grade. The access is broken. $139T in global fund AUM. 0.025% on-chain. The bottleneck isn't the asset — it's the distribution.
Users deposit stablecoins into Foundation vaults. We invest directly into tokenized institutional funds and pass the yield through. No KYC, no minimums.
Without Foundation
With Foundation
Same underlying institutional funds. Same yield. New distribution rails.
PHASE 1: DISTRIBUTION
User Deposits Stablecoins
Users deposit USDC/USDT into Foundation vaults. No KYC required.
Invest Into Institutional Funds
Foundation deploys capital directly into tokenized institutional funds. Yield amplified via looping.
Earn Yield
Users hold vault tokens that accrue yield. Standard redemption windows with DEX liquidity planned.
| Layer | Players | Model | Composability |
|---|---|---|---|
| Primary Issuers | Securitize (ACRED), Ondo, Superstate, Mountain | Asset Tokenization | Siloed (KYC) |
| Enablers | Loopscale, Zharta, Aave Horizon | Lending & Looping | Protocol-Specific |
| Distribution
Layer
(Direct Competition) |
Ondo, Robinhood, Binance | Managed / Custodial Access | Walled Garden |
| Foundation | The Access Rails | Open Distribution Rails | Infinite (DeFi Utility) |
Permissionless access to institutional yield through a novel secondary layer.
The Approach
No KYC for users
Foundation invests directly into tokenized funds. Users deposit stablecoins and earn yield without KYC or accreditation requirements.
First to Market
Direct fund partnerships
Securitize-issued funds (ACRED, SCOPE) plus Fasanara (mF-ONE). Direct relationships with the largest tokenized fund platforms.
Full Composability
Works with existing DeFi
Vault tokens integrate with Morpho, Curve, Uniswap. Use as collateral, trade on DEXes, loop for leveraged yield.
We take a 10% cut of yield on all assets under management, plus 0.3% on secondary market transactions.
10%
Management Fee
of yield generated
0.3%
Secondary Market Fee
on mint/redeem
50%+
Gross Margin
at scale
YEAR 1 TARGET
$300M TVL
Revenue
$6M
Pre-launch with key infrastructure and partnerships locked.
DONE
Protocol Built
DONE
Securitize Integration
IN PROGRESS
Launch Partners
Partners & Integrations
Yield Sources
Enablement
Distribution
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NOW
The Wedge
DISTRIBUTION • Q2-Q3 2026
$100M TVL
5K+ holders
NEXT
The Platform
TOKENIZATION • H2 2026
$500M TVL
3+ asset types
THEN
The Moat
ORIGINATION • 2027+
$1B+ TVL
Full-stack fund access platform
3x founder with 12 years in product leadership. Deeply specialized in bridging TradFi expertise with Web3 scale and AI-driven growth.
Systems Engineer with 6+ years building production infrastructure for distributed systems, privacy protocols, and DeFi primitives across Solana, Filecoin, and Ethereum.
Build the legal and technical foundation for distribution and future origination.
Legal & Structure
SPV structure, legal framework, tax opinions, regulatory compliance, origination structure
Development & Audits
Smart contracts, vault infrastructure, security audits, tokenization stack
Operations & GTM
Team runway, partner onboarding, initial go-to-market
MILESTONES
Q2 2026
Vaults live, first users onboarded, legal structure complete
Q3 2026
$50M+ TVL, multi-fund expansion, seed round
2027
Own SPV, origination pilot, compute financing
STRATEGIC DELIVERABLES
Legal: SPV structure + tax opinions
Tech: Audited vaults + tokenization stack
Live: First fund integration live, users onboarded
YEAR 1
$300M TVL
Deploy into tokenized funds. Prove distribution model works.
YEAR 2
$1B TVL
Own SPV. Tokenize non-tokenized funds. 10x supply.
YEAR 3
$10B TVL
Originate compute & equipment loans. Tap $500B+ market.
Tokenized funds are the fastest-growing asset class in crypto. The infrastructure exists. The demand is proven. The question is who builds the access layer.
CEO & CO-FOUNDER
End of Deck
Supplementary materials for due diligence.
Technical details, unit economics, and growth models.
Starting with proven loans from world-class originators before building our own origination stack.
FASANARA
mF-ONE
12.3%
29.3%
BASE / LOOPED
Multi-strategy credit fund. Consumer & SMB lending, trade finance, yield optimization.
TVL
$135M
Instant Liq.
$8M
Redemption
35 days
Transferable
Yes
PRIMARY LAUNCH PARTNER
APOLLO
ACRED
9.4%
19.7%
BASE / LOOPED
Multi-asset private & public credit. Corporate lending, asset-backed, structured credit.
TVL
$130M
Underlying
$1.3B
Redemption
Quarterly
Senior Secured
96%
PRIMARY LAUNCH PARTNER
HAMILTON LANE
SCOPE
6.2%
9.0%
BASE / LOOPED
Senior secured loans to top-tier borrowers. First-lien protection, stable returns.
TVL
$7M
Track Record
31+ years
Redemption
Monthly
Inception
+22%
EXPANSION TARGET
Phase 1: KYC'd LP Flow
LP deposits RWA (e.g. ACRED)
Already KYC'd via Securitize
Vault loops RWA on Morpho
3.33x leverage at 70% LTV
LP receives ApolloUSD
Earning ~18% APY (leveraged)
LP stakes to enable distribution
Extra incentive for staking
Phase 2: Retail Access (No KYC)
CHANNEL 1: PROTOCOL MINT/REDEEM
Mint: Pay NAV in USDC → get ApolloUSD from staked pool
10% USDC → redemption buffer / 90% → curator vault
Redeem: Return ApolloUSD → get NAV from USDC buffer
Position-tracked — only your minted amount is redeemable
NAV in, NAV out. ~16.6% APY.
CHANNEL 2: DEX (INDEPENDENT MARKET)
Buy/sell ApolloUSD on Curve at market price
Trades at NAV - discount (reflects time to unlock)
No buffer redemption rights. Exit via DEX or Fission.
Market price in, market price out. ~18% APY.
Key: Position tracking prevents cross-channel arbitrage. Buffer serves protocol users only — DEX tokens cannot redeem from buffer.
Two Separate Products
Protocol Mint/Redeem
NAV GUARANTEEDMint at NAV from staked pool. Redeem at NAV from USDC buffer. Position-tracked — only minted amount redeemable.
PRICE
NAV in / NAV out
APY
~16.6%
EXIT
Instant (buffer)
DEX (Curve)
MARKET PRICEBuy/sell on Curve at market price. Independent liquidity pool. No buffer redemption rights.
PRICE
NAV - discount
APY
~18%
EXIT
DEX / Fission
Fallback Options
ALL USERSFission (instant, market-driven fee, limited capacity) or wait for quarterly ACRED unlock (zero fee, 14+ days).
Why This Works
ZERO CROSS-CHANNEL ARBITRAGE
Position tracking separates redemption rights from the token itself. Buying cheap on DEX does not grant NAV redemption. No arb between protocol and DEX.
Position Tracking
Protocol records each user's minted amount. Buffer redemption is limited to this tracked position. Transferring or selling ApolloUSD does not transfer the position — only the token moves.
USDC Redemption Buffer
10% of each retail mint goes to a USDC buffer. Enables instant NAV-out for protocol minters. Buffer replenished at quarterly unlock. Reduces yield slightly (~1.4%) as trade-off for guaranteed exit.
Capital Split
Redemption Buffer
10%
Curator Vault (looping)
90%
Year 1 Target: $300M institutional TVL (of which $100M LP staked) → $100M distribution capacity
How We Make Money
Management Fee
10% of yieldOn all vault TVL. At 18% RWA yield → 1.8% protocol revenue.
$300M × 18% × 10% = $5.4M/yr
Secondary Market Fee
0.3%Non-KYC'd users via LP program (14-day lock). Institutional: free.
$100M × 2x turnover × 0.3% = $600K/yr
DEX Trading Fee
0.04%Curve pool fee share on instant trades.
~$50K/yr
How We Spend Money
LP Incentives
Extra APYPaid to staked LPs enabling distribution. Enhanced yield on top of leveraged position. 10% USDC buffer handles instant redemptions—protocol pays $0 shortfall.
$100M LP × 5% = $5M/yr (in tokens)
Operations
$40K/moTeam, infrastructure, audits, legal.
$480K/yr (cash)
YEAR 1 SUMMARY
| Revenue | ~$6M |
| LP Incentives (tokens) | $5M |
| Operations (cash) | $0.5M |
| Net (cash basis) | ~$5.5M |
Quarterly Milestones
| Partner TVL | LP Staked | Distribution | Phase | |
|---|---|---|---|---|
| Q1 | $45M | $15M | $15M | Distribution |
| Q2 | $120M | $40M | $40M | Distribution |
| Q3 | $200M | $65M | $65M | + Tokenization prep |
| Q4 | $300M | $100M | $100M | Tokenization pilot |
Year 1 Focus
Phase 1: Distribution
(Fasanara, Apollo). Build infrastructure.
Phase 2 Prep: SPV
setup, tokenization stack. Launch pilot in Q4.
Year 1 Economics
Distribution Revenue
$6M
LP Incentives
$5M (tokens)
Revenue Breakdown
Management Fee
10%
of 18% yield on $300M TVL
→ $5.4M/yr
Secondary Fees
0.3%
on retail mint/redeem
→ $600K/yr
LP Incentives (Cost)
5%
APY on $100M LP capital
→ $5M/yr (tokens)
YEAR 1 NET
Cash: ~$5.5M
After token incentives: ~$0.5M net margin
LP Capital to Enable Distribution
| Distribution | LP Capital | DEX Buffer | Incentives |
|---|---|---|---|
| $25M | $25M | $3M | $1.3M/yr |
| $50M | $50M | $5M | $2.5M/yr |
| $100M | $100M | $10M | $5M/yr |
| $250M | $250M | $25M | $10M/yr |
LP ROLE
1. Stake to Enable Retail: LPs stake ApolloUSD,
retail mints against staked pool.
2. DEX Buffer: ~10% in Curve for instant trades.
3. No Shortfall Risk: 10% USDC buffer handles instant
protocol redemptions. LPs never subsidize.
Total LP Yield: 23% APY (18% leveraged + 5% incentive
in tokens).
Fundraise Roadmap
Pre-Seed (Current)
OPENAudits, legal, initial LP incentives, bootstrap to $25M TVL
Seed (H2 2026)
ScalingScale LP incentives, multi-chain expansion, reach $100M TVL
Series A (2027)
ExpansionInstitutional partnerships, protocol-owned liquidity, $500M+ TVL
Path to self-sustaining: At $250M+ TVL, protocol revenue (~$4M/yr) covers LP incentives + ops without dilution.
DEX is an independent secondary market for apolloUSD. Sourced from LP opt-in, POL, and market makers — separate from the protocol's USDC redemption buffer.
DEX: Independent Market Channel
Market Pricing
InstantTrades at market price (NAV - discount reflecting time-to-unlock). Buy/sell permissionlessly on Curve or Uniswap.
Liquidity Sources
LP opt-in allocations, protocol-owned liquidity (POL), and external market makers. Not sourced from the staked pool or USDC buffer.
No Buffer Rights
Position-TrackedDEX-purchased tokens cannot redeem from USDC buffer. Exit via DEX sell, Fission, or ACRED unlock.
Pool Depth Targets (1.5-2% of TVL)
| Stage | TVL | Pool Depth | Trade Coverage |
|---|---|---|---|
| Launch | $25M | $500-750K | Up to $20K |
| Year 1 | $100M | $1.5-2M | Up to $50K |
| Scale | $250M | $3-4M | Up to $100K |
FUNDING SOURCES
Launch: $100K fundraise + LP
matching + ecosystem grants
Ongoing: 20-25% of protocol
fees reinvested into POL
AI infrastructure needs capital. GPUs are attractive collateral. We originate, tokenize, and distribute.
Market Opportunity
$100B+
GPU financing demand by 2027
AI labs, inference providers, cloud platforms
Capital Gap
Banks don't understand GPU collateral. Equipment finance too slow. Crypto capital available but no infrastructure.
Attractive Collateral
H100s: $25-40K each, liquid secondary market, easy to verify and repo. Better than most equipment.
Foundation Advantage
Same Infrastructure
Phase 1-2 infrastructure becomes Phase 3 origination rails. Distribution + tokenization already built.
Lower Cost of Capital
DeFi distribution = global capital access. Better rates for borrowers, better yields for LPs than traditional equipment finance.
TARGET ECONOMICS
Loan Rate
15-20%
LP Yield
12-15%
Term
12-18mo
LTV
60-70%
Distribution → Tokenization → Origination. Progressive value capture.
Three Phases
Phase 1: Distribution
NOWWrap existing tokenized RWAs (Fasanara, Apollo). Build distribution infrastructure. Prove PMF.
Value: Distribution fees only
Phase 2: Tokenization
H2 2026Build own SPV structure. Tokenize non-tokenized loans as debt (Midas model). Structure funds ourselves.
Value: + Tokenization/structuring fees
Phase 3: Origination
2027+Originate loans ourselves (compute, equipment). Full stack: originate + tokenize + distribute.
Value: + Origination spread (3-5%)
What We Build Each Phase
Phase 1: Distribution Stack
Vaults, leverage integrations (Morpho, Zharta), staking, secondary market, redemption infrastructure.
Phase 2: Tokenization Stack
BVI SPV for debt issuance. Legal structure to tokenize traditional loans. NAV oracles, compliance layer.
Phase 3: Origination Stack
Delaware LLC for lending. Underwriting, collateral verification, loan servicing. Equipment valuator partnerships.
Full Stack = Moat
Each phase builds on the last. Distribution infrastructure becomes moat for tokenization → origination.