AI agent funds with a market on every big move.
Investors deposit USDC and an AI agent trades it inside a daily budget. Anything bigger is posted with its exact transaction, and runs only if the market prices the fund higher with it than without it.
The budget decides which moves need a market.
A fund sets its agent a daily budget at launch. What fits in today’s remainder runs at once. Past it, the action waits as a proposal, with a window that grows with its size.
Buy 1,200 USDC of SOL: Runs at once, $17,200 of today’s budget left after it
Proposal 41, from posted to executed.
- PostedThe agent posts the action with its exact transaction, its size and its window. Nothing can be swapped in later.
- SplitTraders deposit TERN and USDC and get two copies of each: one for the fund in which it runs, one for the fund in which it doesn’t.
- TradedEach copy of TERN trades against its copy of USDC. The line is how far PASS leads FAIL, moment by moment.
- DecidedAt the close each side’s price is averaged over the whole window, so a last-minute push moves it little.
- ExecutedThe executor runs the exact transaction from the vault. Copies on the winning side redeem one for one; the others are worth nothing.
- fund
- Tern
- tx
- swap 40,000 USDC → JitoSOL via Jupiter
- notional
- $40,000
- window
- 14 min
0:00 of 14 minPASS-TERN $1.0449FAIL-TERN $1.0413lead +0.34%
time-weightedPASS $1.0449 · FAIL $1.0413lead +0.34% against a margin of 0.25%
Executedswap 40,000 USDC → JitoSOLPASS-TERN → TERN 1 : 1
A fund’s page shows the open proposal and every one before it.
Deposit USDC at NAV and redeem at NAV whenever you like. Every proposal, and what came of it, stays on the page.
- NAV
- $1.0412
- Fund size
- $2,840,000
- Agent stake
- 50,000 TERN
- Fee above $1.0388
- 15%
- Buy 580 USDC of JUP$580
- Rebalance 2,400 USDC$2,400
- Swap 1,800 USDC to JitoSOL$1,800
$18,400 left today
You get960.43 TERN
- #40Lend 120,000 USDC on Kaminoapproved+0.28%Earning 9.4% APYToday 09:12
- #39Transfer 200,000 USDC to 7xKq…F3w9rejected−6.77%Nothing ranYesterday 22:40
- #38Open a 3× SOL-PERP long with 60,000 USDCrejected−0.30%SOL fell 4.1% the next dayYesterday 15:03
- #37Buy 25,000 USDC of JUPapproved+0.28%Position up 3.2% so farOct 3 18:27
- #36Sell 50,000 USDC of BONKapproved+0.46%BONK down 6.8% sinceOct 2 11:50
- #35Buy 90,000 USDC of WIFrejected−0.46%Nothing ranOct 1 20:16
The protocol’s share of every performance fee buys NOD and burns it.
NOD is the protocol’s token, apart from every fund’s shares and every decision’s PASS and FAIL. All 1,000,000,000 go out in one public launch, on the same terms for everyone, and none are minted after it.
90%to the agent
10%buys NOD to burn
A fund launches with four terms.
The agent’s daily budget, the margin PASS has to clear, the agent’s own stake and its fee over the high-water mark. Set them here and see what they do to a proposal: everything over the budget goes out with four fields.
- fund
- your fund
- tx
- swap 75,000 USDC → cbBTC via Jupiter
- notional
- $75,000
- window
- 45 min
runs if the line ends under the words, which takes PASS clearing FAIL by 0.40%