Systematic deskTokenisedOFFLINE

Rules trade the book. Holders keep the profit.

Tangent runs two systematic strategies on on-chain perpetuals. A fee on every TNGT trade funds the desk, each epoch's realised profit is paid to holders in USDC, and every position is published while it is still open.

View the live desk

How it funds itself

TNGT contract address is published here at launch

Fund value

Offline

The desk feed is temporarily unavailable. Figures return automatically once the venue responds.

Gross exposure: --
Positions: --
Next payout: --

01Live desk

The book, as it stands.

Margin, exposure, open risk and what has already been paid out, as reported by the desk. Nothing is aggregated away: the numbers below are the numbers the engine runs on.

OFFLINE

The desk feed is unavailable.

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02Performance

The curve, drawn from the ledger.

Fund value and cumulative profit over time, from the desk's own record. Drawdowns are left in; a curve without them would be a marketing asset, not a record.

Performance history is unavailable while the feed is offline.

Chart supports keyboard navigation: focus it and use the arrow keys (shift for larger steps), Home and End.

03Strategies

Two sleeves. One risk budget.

A directional sleeve that follows trends and a market-neutral sleeve that trades the spread between winners and losers. They are sized together so the whole book carries one volatility target.

Strategy S-01Directional · vol-targetedDays to weeks

Adaptive Trend

Follows persistent moves in the most liquid, most volatile perpetual markets. It buys strength, sells weakness, and sizes every position so the whole sleeve carries a fixed risk budget rather than a fixed notional.

Ann. vol target: 25%
Rebalance: 15 min
Lookbacks: 1w · 1m · 3m
Gross cap: 5.0x

Objective: Capture medium-term trends while keeping realised volatility close to a 25% annualised target.
How it works: Three lookback windows (1w / 1m / 3m) vote on direction each hour. Agreement sets conviction; conviction and recent volatility set size.
Exposure: Net long or net short by design. Gross capped at 5x equity; single-name cap at 15% of gross.
Risk management: Positions exit on signal flip, not on price targets. A −6% daily equity drawdown flattens the sleeve until the next session.
Markets: Crypto majors and high-volatility alts, plus tokenised US equity perpetuals.
Execution: Passive limit orders on the Hyperliquid, rebalanced every 15 minutes; taker fallback only at the session close.
Methodology: Time-series momentum with a funding-rate tilt: crowded carry reduces size, paid carry increases it.

Strategy S-02Market neutral · dollar balancedWeekly

Dispersion Neutral

Ranks a fixed universe by relative momentum, holds the strongest names long and the weakest short, and keeps the two sides balanced so the sleeve earns from dispersion between assets rather than from the market's direction.

Net exposure: ≈ 0
Rebalance: Weekly
Universe: 40 names
Per-name cap: 8%

Objective: Produce returns with low correlation to the trend sleeve and to the broad market.
How it works: Cross-sectional momentum scores are recomputed weekly; the top quintile goes long, the bottom quintile goes short, weights scaled by inverse volatility.
Exposure: Net exposure held near zero and hedged against the index with perpetuals. Gross typically 150 to 200% of sleeve equity.
Risk management: Per-name cap at 8% of gross, sector caps on equities, and a hard stop when the long/short spread moves −4% in a session.
Markets: Tokenised US large-cap perpetuals and the top-20 crypto assets by liquidity.
Execution: Rebalanced once a week in a single batched session to keep turnover and fees low; partial fills carry to the next batch.
Methodology: 12-1 month relative momentum with a short-term reversal filter and volatility scaling.

Parameters above describe how each sleeve is constructed, not what it will return. Systematic strategies go through extended drawdowns; leverage magnifies them. Nothing on this page is a forecast.

04Mechanism

A desk that pays for itself, then pays its holders.

No raise and no treasury to trust. Token activity funds the collateral, rules trade it, and what the rules earn goes back to the people holding the token.

01
Capital & token activity
Every TNGT trade routes a fixed fee to the desk. No raise, no treasury vote: the token's own activity funds the book.
3.0%
fee per trade
02
Trading infrastructure
Fees settle as USDC collateral on the Hyperliquid. Margin, exposure and liquidation levels are public at all times.
5.0x
hard leverage cap
03
Systematic strategies
Two rule-based sleeves trade the collateral: adaptive trend and dispersion-neutral momentum. No discretionary overrides.
15 min
rebalance cadence
04
Realised P&L
Closed trades become realised profit on-chain. Only what the book actually earned can be distributed.
7d
settlement epoch
05
Distribution & reinvestment
Each epoch, 70% of realised profit is paid pro-rata to holders in USDC; the remainder compounds into step 01.
70 / 30
paid / compounded

30% compounds. The unpaid share of each epoch's profit returns to step 01 as fresh collateral, so the book grows with its own results rather than with new money.

Trade fee to desk: 3.0%
Paid to holders: 70%
Epoch length: 7 days
Settlement: USDC

05Transparency

Everything the desk does is on the record.

Positions while they are open, fills with their transaction references, distributions itemised per epoch. If a number matters to a holder, it is published, and it can be checked.

View dashboard View documentation View trading activity View contract

Verifiable activity

Every fill, funding payment and payout carries a transaction reference you can check against the chain.

Trading records

Full order history is exported per epoch, including cancelled and partially filled orders.

Open positions

Entry, mark, size, leverage and liquidation price for each position are published while it is open, not after.

Performance

Equity, drawdown and exposure are shown as a continuous ledger, never as a hand-picked window.

Distributions

Each epoch's payout is itemised: profit realised, share paid out, share compounded, and the per-holder amounts.

Methodology

Signal construction, sizing rules and rebalance logic are documented so the behaviour of the book can be anticipated.

Risk framework

Leverage caps, per-name limits and the daily halt rule are fixed parameters, published alongside their current readings.

06Signals

Have a signal? Put it in front of the desk.

Holders and outsiders can propose a thesis: a market, a trigger, and a reason the edge exists. Submissions are reviewed on a fixed cadence; the strongest are paper-traded first and, if they hold up, given capital.

01
Screened
Every submission is read. Vague ideas are declined quickly; concrete ones get questions.
02
Paper-traded
Promising signals run on a shadow book for at least one full epoch.
03
Funded
Signals that survive out-of-sample are added as a sleeve with their own risk budget.

07Documentation

Read the spec. Check the chain.

The written record behind the numbers: architecture, strategy parameters, payout mechanics and the contracts that enforce them.

Rules trade the book. Holders keep the profit.

The book, as it stands.

The desk feed is unavailable.

The curve, drawn from the ledger.

Two sleeves. One risk budget.

Adaptive Trend

Dispersion Neutral

A desk that pays for itself, then pays its holders.

Capital & token activity

Trading infrastructure

Systematic strategies

Realised P&L

Distribution & reinvestment

Everything the desk does is on the record.

Verifiable activity

Trading records

Open positions

Performance

Distributions

Methodology

Risk framework

Have a signal? Put it in front of the desk.

Read the spec. Check the chain.

Documentation

TNGT token

Trading venue

Distributions

Contract

Data API