Aequitas Engine, LP
Dollar-denominated yield from onchain markets — systematically sourced, risk-governed, fully liquid, and certified daily from a position-level book of record.
Target Return
10-20%
Net of fees, per annum. An objective, not a guarantee.
Denomination
Dollars, Not Tokens
USD-stablecoin positions, predominantly delta-neutral. The Fund takes no view on crypto prices.
Liquidity
100% Liquid
Every position is held in open onchain markets with continuous liquidity. No locked vaults, no illiquid paper.
Verifiable
Certified Daily
Every position is held onchain, never on a centralized exchange. NAV is struck daily from a position-level book of record.
Investment Strategy
Institutional access to the onchain credit markets: dollar-denominated, risk-governed, and verifiable to the position.
Every position is held onchain, and the daily NAV is certified from a position-level book of record. We do not ask for trust; we provide the data.
Positions are held directly in vetted onchain protocols, never on a centralized exchange. The Fund’s remaining dependencies — stablecoin issuers and its fiat on-ramp — are disclosed in the PPM.
Automated drawdown triggers, strict concentration limits, and mandatory liquidity reserves. Leverage is disclosed, governed by policy, and capped at 4.0x per position.
Steady State GP, Reg D 506(c), daily certified NAV, independent fund administrator, and annual audit. Multi-signature cold-storage custody with hardware-backed signers and distributed (MPC/threshold) key generation.
Performance
Our annual net return target, not a guarantee or a projection.
10-20%
Target Net Return
Target Net Return
Net of fees, per annum. Not a guarantee.
The target is net of fees. It is an objective, not a guarantee or a projection of actual results. Past performance is not indicative of future results. Offering available only to verified accredited investors.
Target Return
10-20%
Net of fees, per annum. An objective, not a guarantee.
Risk Framework
Policy-Governed
Full risk factors are set out in the PPM.
Scanning Universe
Hundreds of Markets
Across multiple chains. Scanning mandate, not current allocation.
Monitoring
Health Factors
Levered positions monitored through onchain health factors; concentration by protocol and by chain.
Strategy Inception
April 2026
Live on proprietary capital since April 24, 2026.
Past performance is not indicative of future results.
How Your Capital Is Managed
Every dollar is managed through one integrated allocation strategy, not a menu of options. The Fund blends four risk tiers, each capped as a share of the Fund. Allocation weights shift with market conditions, under strict limits and automated exit triggers at every level.
Top-tier lending protocols with minimal smart-contract risk. The Fund’s liquidity reserve.
Protocols with multiple audits, $50M+ TVL, and 12+ months of operating history.
Audited protocols with 6+ months of track record and $5M+ TVL.
New-protocol incentives and time-limited campaigns, with elevated smart-contract risk.
The Engine
Every component is built for one job: finding, sizing, and monitoring stablecoin yield within the Fund’s risk limits, and certifying the book that reports it.
Position Monitoring
Balances, prices, and onchain health factors of every deployed position, read and reconciled each cycle.
Institutional Security
Multi-signature cold-storage custody, hardware-backed signers, and distributed (MPC/threshold) key generation.
Yield Orchestration
Data-driven allocation engine scanning hundreds of markets to optimize capital deployment.
Risk Controls
Automated drawdown triggers, concentration limits, and chain exposure enforcement.
Daily NAV Reporting
Daily GP-certified NAV, monthly statements, and Fund documents in the investor portal.
Rotation
Capital rotates as yields shift or risks change, within the risk-tier allocation caps.
Multi-chain architecture across leading L1 and L2 networks — capital goes wherever the best risk-adjusted opportunities are.
Fund Terms
| Fund | Aequitas Engine, LP |
| Management Company | Steady State Engines, Inc. |
| General Partner | Steady State Management, LLC |
| Domicile | Delaware, USA |
| Target Net Return | 10-20% per annum An objective, not a guarantee |
| Minimum Investment | $1,000,000 Additional subscriptions: $100,000 minimum |
| Lockup Period | 90 days from settlement |
| Redemptions | Quarterly windows, 30-day advance notice required 25% gate per redemption date, pro rata · $100,000 minimum remaining balance after a partial redemption · proceeds paid within 30 days after the Redemption Date |
| NAV Calculation | Daily, GP-certified from the book of record Positions verifiable onchain |
| Management Fee | Graduated on NAV, marginal per bracket 2.0% First $10M1.5% $10M-$25M1.0% $25M-$100M0.75% $100M+ |
| Performance Fee | 20% of net profits above the Benchmark Hurdle and the high-water mark Hurdle 5.5% a year, fixed for the initial LPA term · Crystallized annually & on redemption · Individual investor HWM |
| Reporting | Monthly statements · Quarterly reports · Annual audit · Independent fund administrator |
| Offering | Reg D 506(c) · verified accredited investors only |
Summary only. The Private Placement Memorandum and Limited Partnership Agreement control in all respects.
Get Started
The data room holds the Private Placement Memorandum and the Fund’s full documentation. Access is limited to verified accredited investors (Reg D Rule 506(c)).
By submitting, you understand that your accredited-investor status (SEC Rule 501(a)) must be verified under Reg D Rule 506(c) before any subscription is accepted.