Hedgepad Docs

Hedgepad currently runs on Solana . Balances, fund tokens and USDC here. Switch your wallet, then get USDC from the faucet to launch or invest in a fund.

1. Launch. A manager creates a fund with a name, symbol, image and performance fee. The program mints an SPL fund token and opens a USDC vault for it.
2. Invest. Investors buy the fund token with USDC on a NAV-anchored virtual AMM, and can sell back at any time. There is no redemption queue.
3. Trade. The manager moves part of the vault into Drift and opens perpetual positions. Profit or loss is synced back into the fund's NAV.
4. Earn. The manager earns a performance fee only on profit above the fund's all-time high.

Each fund token is priced from the fund's net asset value: the USDC in the vault plus the value of its Drift positions, divided by the tokens in circulation. A virtual AMM on top of the NAV gives instant liquidity, so buys and sells move the price the way a bonding curve does, while the NAV keeps it tied to real performance.

Performance fee: set by the manager, up to 30%, charged only on profit above the high-water mark.

Exit fee: depends on how long you held, and is paid back into the fund, raising the NAV for everyone who stays.

Investor USDC sits in the fund's vault, a token account owned by the Hedgepad program, not by the manager. The manager can move capital into Drift to trade, and withdrawals from Drift come back to the same vault. Every deposit, trade and fee is an onchain transaction you can look up in the explorer.

Funds trade leveraged perpetuals, and a fund's NAV can fall as well as rise. Past performance says nothing about the future. The smart contracts have not been audited. Nothing on Hedgepad is financial advice.