Confidential

Daily Harvest
Fund I

A Direction-Neutral Crypto Income Fund

Designed for High-Yield, Compounding Daily Income

01 - The Problem

Most crypto funds bet on price direction

Timing Risk

Requires predicting entries and exits that most managers get wrong.

Leverage & Liquidation

Perpetual futures introduce liquidation risk and funding rate exposure.

Emotional Volatility

50%+ drawdowns amplify emotional decision-making and force panic exits.

The result: most crypto funds lose money in bear markets and underperform in bull markets.
02 - Our Thesis

We are the ATM
in the crypto casino

Everyone else places the bets. We rake in the fees, regardless of the outcome.

Direction-
Independent
Zero
Leverage
Daily
Income
24/7
Fee Generation
03 - Why Now

A massive and growing opportunity

DEX Volume Exploding

Decentralized exchange volume grew 10x to ~$5 trillion annualized in 2025. Fee pools scale directly with trading activity.

Infrastructure Era

Stablecoins crossed $200B+ in circulation. JPMorgan, Goldman Sachs, and the NYSE are building settlement layers on blockchain. Trading volume is becoming structural and permanent-not hype-cycle dependent.

Institutional Adoption

BlackRock, Fidelity, and others have funneled $100B+ into crypto. Goldman Sachs holds $2.4B in crypto ETFs. As institutional capital enters, trading volumes and fee pools grow.

Regulatory Tailwinds

Pro-crypto administration. SEC shifted from enforcement to rulemaking. Bitcoin ETFs approved with $100B+ inflows. Bipartisan stablecoin legislation (GENIUS Act) signed into law.

“Every stock, every bond, every fund-every asset-can be tokenized. If they are, it will revolutionize investing. Tokenization today is roughly where the internet was in 1996.”

Larry Fink, CEO of BlackRock - $13.5 Trillion in Assets Under Management

04 - The Platform

What Is Hyperliquid?

Think of Hyperliquid as a next-generation stock exchange - except it runs 24/7, is completely transparent, took zero dollars from VCs, and gives nearly all of its revenue back to its community.

$843M
2025 Revenue
$2.95T
2025 Trading Volume
$5B+
Open Interest
75%+
DEX Perps Market Share

The Fastest Exchange in Crypto

Hyperliquid processes 100,000+ orders per second with sub-second finality. That's faster than most traditional stock exchanges.

100K orders/sec
🏦

Zero Outside Funding

Unlike virtually every other crypto project, Hyperliquid took $0 in venture capital. 76% of token supply is allocated to the community.

$0 VC funding
🔥

Revenue Buyback & Burn

97–99% of all trading fees buy HYPE tokens from the open market, which are permanently destroyed. Like spending nearly all profits on share buybacks.

37M+ HYPE burned ($1B+)
05 - Validation

Why Hyperliquid Wins

This isn't a niche project. The world's most respected institutions recognize Hyperliquid as one of the most significant financial technology companies of 2026.

📰

Forbes Fintech 50 - 2026

Forbes named Hyperliquid to its prestigious Fintech 50 list (Feb 2026), alongside Stripe, Plaid, and Ramp. One of only two companies on the entire list with zero outside funding.

Forbes Fintech 50
🏛

NASDAQ-Listed Treasury Co.

Hyperliquid Strategies (ticker: PURR) listed on NASDAQ in Dec 2025, chaired by Bob Diamond, former CEO of Barclays. Deployed $129M to acquire HYPE tokens.

PURR on NASDAQ
💰

More Revenue Than Ethereum

$843M in 2025 revenue vs Ethereum's $524M. With ~12 people, that's $102M revenue per employee. Apple does $2.4M per employee.

$102M rev/employee

“In March 2026, when Middle East tensions spiked oil prices above $100, price discovery didn’t happen on CME or NYMEX — it happened on Hyperliquid. $7.3B in oil futures volume in two weeks.”

Covered by Bloomberg, Wall Street Journal, Fortune & cited by JPMorgan

06 - Momentum

The Opportunity Is Now

NOV 2024
$1.2B Community Airdrop
310M HYPE tokens distributed to 94,000 early users. Token launched at $3.57.
Q1 2025
HyperEVM Launch
Full Ethereum compatibility goes live. Hundreds of developer teams begin building DEXs, lending protocols, and DeFi applications.
Q2–Q3 2025
Dominance - 75%+ Market Share
Monthly volume exceeds $300B. Open interest surpasses $15B. HYPE reaches ATH of $59.30. Peak monthly revenue $97.7M in August.
DEC 2025
$1B Token Burn & NASDAQ Listing
37M HYPE tokens ($1B+) permanently burned by 85% validator consensus. Hyperliquid Strategies goes public on NASDAQ.
FEB 2026
Forbes Fintech 50 & Policy Center
Named to Forbes Fintech 50. Establishes D.C. policy center led by Jake Chervinsky, seeded with $28M in HYPE.
MAR 2026
$7.3B Oil Futures Volume
Hyperliquid becomes the go-to venue for oil price discovery when traditional markets are closed. Covered by Bloomberg, WSJ, Fortune, and cited by JPMorgan.
07 - The Strategy

Fee capture is the most overlooked opportunity in crypto

🏪

Trading Fee Capture

Every trade on a decentralized exchange generates fees. Liquidity providers (us) collect those fees. It's like owning the exchange itself.

Paid Regardless of Direction

Whether prices go up or down, traders still trade. We earn from volume, not price movement.

📈

Grows With the Market

As crypto adoption increases and more traders enter, fee pools expand. Our income scales automatically.

“I'm a big believer in blockchain technology and the ability for us to change the financial infrastructure, the rails. Tokenization, digitization, stablecoin - it's coming, it's coming at a very quick pace.”

David Solomon, CEO of Goldman Sachs - $3 Trillion in Assets Under Management

08 - How It Works

How the fund generates daily income

1

Select High-Volume Markets

Identify the most actively traded token pairs with deep liquidity and consistent fee generation.

2

Provide Liquidity & Set Range

Deploy capital into concentrated liquidity positions with tight, actively managed price ranges for maximum fee capture.

3

Claim & Compound Fees

Harvest earned fees daily and reinvest them back into positions, compounding returns over time.

09 - Our Edge

What sets us apart

🎯

Active Range Management

We don't passively deposit and hope. Positions are actively monitored and rebalanced to stay in optimal fee-earning ranges.

Concentrated Liquidity Expertise

V3-style concentrated liquidity allows 10–100x more capital efficiency than traditional LP. We exploit this edge daily.

🔄

Pool Selection & Rotation

Proprietary analysis to identify highest fee-generating pools. We rotate capital to where fees are richest.

10 - Live Performance

~190% APR over the past 3 months

~190%
Annualized APR (3-month avg)
6 Figures
Personal Capital Deployed
Zero
Leverage Used
3+ Mo.
Live Track Record

Key highlights:

  • Not including compounding effects, actual returns higher with reinvestment
  • Independent of price action, returns generated from fee income only
  • Same strategy that will be used for LP capital, live execution, no simulations

Past performance is not indicative of future results. Returns shown are before fees and expenses.

11 - Alignment

Skin in the game

💵

$100K+ Personal Capital

Manager has six figures of personal capital deployed in the strategy.

🤝

Same Strategy as LPs

No separate account, no different approach. The manager's money is managed alongside investor capital.

No Simulations

Everything shown is live, real-money execution. No backtests, no paper trading, no hypotheticals.

12 - Fund Terms

Daily Harvest Fund I Overview

Target Fund Size$5,000,000
Structure506(b) Fund, Limited Partner Investment
Minimum Investment$100,000
StrategyFee capture from concentrated liquidity provisioning on Hyperliquid
Target Returns30–100%+ per annum, returns reinvested by default to maximize compounding
RedemptionsQuarterly redemption windows following a 12-month lockup period, requiring 30-day notice
Management Fee20% of daily fees generated
Performance Fee20% carry on NAV growth above hurdle
Hurdle Rate20% annualized return
Manager Co-Invest$100,000 personal capital alongside LPs
ReportingMonthly NAV updates, on-chain transparency

*Target returns are not guaranteed. Past performance is not indicative of future results. Investors may lose some or all of their investment.

13 - Investor Economics

Illustrative $100K Investor

 
Conservative
Base Case
Upside
Gross APR
30%
50%
100%
Gross Fees (compounded)
$33,372
$59,833
$144,629
Manager Fee (20% of fees)
($6,674)
($11,967)
($28,926)
Carry (20% above 20% hurdle)
($1,340)
($5,573)
($19,141)
Net Return ($)
$25,358
$42,293
$96,562
Net Return (%)
25.4%
42.3%
96.6%

Assumes $100K investment held for one year with daily compounding. Manager fee is 20% of gross fees. Carry calculated on NAV growth above 20% hurdle. Illustrative only - not a guarantee of returns.

14 - Compounding

The power of daily compounding

$100K invested - projected portfolio value (net of fees)

6 Months
$118K
12 Months
$140K
24 Months
$195K
36 Months
$273K

Illustrative only. Assumes continuous compounding of reinvested fees. Actual results will vary.

15 - The Manager

Founder & Managing Partner

Sohrob Farudi

Serial entrepreneur and venture-backed CEO with multiple successful exits across technology, mobile, and consumer sectors. Crypto-native since 2017, beginning with blockchain-based sports governance and tokenized fan economies. Led companies backed by Lightspeed Venture Partners, Verizon Ventures, Animoca Brands, and Jump Crypto. B.S. in Finance from the University of Maryland, M.S. in Information Systems from The George Washington University.

$100M+
Venture Capital Raised Across Multiple Companies
Multiple Exits
Founded & Sold Companies in Tech, Mobile & Retail
Since 2017
Crypto-Native - Blockchain, Tokens & DeFi
16 - Risk Factors

Key risks to consider

Fee Compression Risk

As more capital enters liquidity pools, fees per dollar deployed may decrease. We mitigate by actively rotating to highest-yield pools.

Smart Contract Risk

DeFi protocols carry inherent smart contract risk. Hyperliquid has been audited, but no protocol is immune to exploits.

Protocol / Platform Risk

Hyperliquid is a relatively new platform. Regulatory changes, technical failures, or governance issues could impact operations.

Liquidity & Redemption Risk

Positions may not be instantly liquidatable. Redemptions are subject to available liquidity and the 12-month lockup.

Regulatory Uncertainty

Crypto regulation is evolving. Changes in law could impact fund operations, strategy, or investor access.

Concentration Risk

Initial strategy is focused on Hyperliquid. Platform-specific events could disproportionately impact returns.

This is not an exhaustive list. Please review the Private Placement Memorandum for complete risk disclosures.

Important Disclosures

This document is for informational purposes only and does not constitute an offer to sell securities nor a solicitation of an offer to purchase securities. Any investment in the Fund involves a high degree of risk and is suitable only for accredited investors who have no immediate need for liquidity and can withstand a loss of their entire investment.

Prospective investors should carefully review the Private Placement Memorandum, Operating Agreement, and Subscription Agreement before making any investment decision. The terms set forth herein are preliminary and subject to change.

Target returns and performance projections are hypothetical and provided for illustrative purposes only. There is no guarantee that targets will be achieved. Past performance is not indicative of future results. Actual results may vary materially from projections.

The Fund invests in digital assets and decentralized finance protocols which carry unique risks including but not limited to: smart contract vulnerabilities, regulatory uncertainty, market volatility, liquidity constraints, and potential total loss of investment.

This document is confidential and intended solely for the recipient. It may not be reproduced or distributed without the prior written consent of the Manager.