bHTK (coming soon)
Last update: Nov 3, 2025
DEX Price Arbitrage Stablecoin Yield Strategy
Bracket is pleased to present the bHTK strategy. Administrator: Hermetik KYC?: Yes, full onboarding and KYC is required. Deposits: Daily Withdrawal Requests: t+1 with up to a cap of 70% of the total strategy TVL. At this cap, withdrawals can be delayed to accommodate available liquidity. About the Strategy: The strategy holds USD-pegged stablecoins, selected using an Asset Risk Score and risk management framework. Select stablecoins are then bought and sold on top-tier Decentralized Exchanges, earning yield from trading fees for providing liquidity to stablecoin markets. The strategy deploys stablecoins to various blue-chip venues to generate the return. The strategy does not employ leverage. The manager has a 3-year track record with the strategy and generated 13.75% with USDC, USDT, DAI on top-tier protocols (Uniswap, Curve, Pendle). DISCLAIMER: Please remember that past performance may not be indicative of future results. bHTK and the corresponding wrapped asset wbHTK are NOT a stablecoins, they are vault receipt tokens. Please review the wallets below for your own due diligence.
TBA
bHTK
Rebasing vault token
TBA
wbHTK
Non-rebasing vault token that may be deployable in external markets
TBA
USDC
Fees:
Performance
10%
Must exceed water mark for positive return
Management
1.0%
Annual, based on TVL
Platform
1.0%
Annual, based on TVL
Source of yield:
AMM LP Fees
Using our proprietary pool selection model and range selection algorithm to capture outsized portion of trading fees on various AMM pools.
Price Arbitrage
Capturing positive price movements within AMM pools following stablecoin volatility or positive price appreciation on staked assets e.g SUSDE.
Enforced Capabilities: Policy Managed Wallet Address: TBA Funds movement is limited by the Bracket Protector for MPC wallets, the Policy Managed Wallet, with Bracket Platform serving as a policy administrator. Neither Bracket nor the Vault Administrator can unilaterally withdraw funds out of this wallet. Funds are non-custodial and limited to the following protocols, assets, and bridges: Chains: Ethereum, Arbitrum, Polygon, Optimism, Base Decentralized Exchanges (DEXs)
The strategy leverages top DEXs to enable efficient asset swapping, liquidity provision, and yield opportunities:
Uniswap v3/v4: Versatile DEX with concentrated liquidity
Curve & Convex: Specialized in stablecoin trading with efficient liquidity
Balancer V: Provides flexible liquidity pools
Aerodrome: Enhances liquidity and trading capabilities
Pendle: Tokenizes and enables trading of future yield
Sushiswap: DEX that uses automated market maker (AMM) smart contracts
Cross-Chain Bridges
The strategy integrates various cross-chain bridges:
Stargate, Optimism Bridge, Base Bridge, Arbitrum Bridge, Avalanche Core Bridge,
CCTP: Circle-powered stablecoin transfers
Supported Assets
The strategy supports a wide range of assets for liquidity, stability, and innovation:
Stablecoins: USDC, USDC.e, USDT, USDT0, DAI, FRAXBP, TUSD, GUSD, LUSD, PYUSD, USDE, SUSDE, USDS, syrupUSDC, RLUSD, MUSD, MSUSD
Blockchain Networks
The strategy ensures interoperability by utilizing multiple blockchain networks: Ethereum, Arbitrum, Polygon, Optimism, Base
Enforced Deposit and Withdrawal Policies: Note that withdrawals are locked during the NAV update period.
Deposit Request
Daily, submit prior to 17:30 UTC (1:30pm EDT)
Deposit Processed
17:30 UTC (1:30pm EDT) + ~2hrs
Withdrawal Request
Submit prior to 17:30 UTC (2:00pm EDT)
Withdrawal Processed
Daily requests, but rolling daily schedule. Submit prior to 17:30 UTC, (1:30pm EDT); Typically available 1 day later + ~2hrs for processing
Disclaimer: Dates listed above may be subject to change with or without notice. Supported assets, wallets, and/or protocols may be updated in line with Changing A Vault's Investment Policy rules. *Target rate for the vault is illustrative and the reported rate will depend on actual performance. Eligible users only, please see Terms and Conditions for more information.
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