Pecun Fund

The Pecun Fund is the shared pool behind $PEN. Every $PEN trade pays a 3% tax into it, and Pecun invests that money across the same protocols the app lists: hedged delta-neutral strategies, yield vaults, lending markets and liquid staking, and uses part of it to buy back $PEN. The Fund belongs to $PEN holders. Each holder owns a slice of it in proportion to their tokens, and gets that slice paid out when they sell.

Think of it as a long-term savings pot for the whole community. New trading keeps adding to it, the yield it earns stays in it, and the longer it runs the more it has to work with.

The Fund at a glance

Funded by

A 3% tax on every $PEN trade.

Owned by

$PEN holders, in proportion to the tokens they hold.

Invested in

Delta-neutral strategies, yield vaults, lending markets and liquid staking, on the protocols Pecun lists, plus $PEN buybacks.

Managed by

Pecun, following the allocation and risk limits on this page.

Paid out

Automatically, as your share of the Fund, when you sell $PEN.

Visible

The Fund's wallet and positions are published here, so anyone can check them.

Where the money comes from

Because the tax is a share of every trade, the Fund grows fastest when $PEN trades the most. The calculator shows how much the tax alone adds at different daily volumes, before the Fund earns any yield.

Where the money goes

The Fund spreads its money across six buckets, so no single strategy or protocol decides how it does. This is the target split. The live split will be shown here once the Fund is running, and it moves within limits as markets change.

Delta-neutral strategies (30%)

A delta-neutral position holds an asset and an equal, opposite hedge at the same time, so moves in the asset's price cancel out. What's left is the yield: funding paid by traders on perpetuals markets, or the gap between spot and futures prices. The Fund uses these strategies because they can earn without betting on the market going up.

• Earns from: funding rates, basis and the yield on the collateral itself.
• Main risks: funding can turn negative and cost money, the venues and protocols used can fail, and big price moves can strain the hedge.
• How the Fund handles them: hedges are kept close to neutral, positions are spread across venues, and strategies are cut back when funding turns negative.

Yield vaults (25%)

Vaults are managed strategies that move deposits across lending and liquidity markets to earn a blended rate. The Fund picks vaults with deep liquidity, a long track record and clear withdrawal terms, from the same list you can browse in the app.

• Earns from: whatever the vault's strategy earns, after its own fees.
• Main risks: the vault's smart contracts, the markets it uses, and the manager's decisions.
• How the Fund handles them: no single vault gets too much, and vaults with slow or queued withdrawals are kept small.

Lending markets (15%)

Supplying stablecoins and blue-chip assets to lending markets earns the interest borrowers pay. It's one of the simplest and most liquid sources of yield, which makes it the Fund's steady base.

• Earns from: interest paid by borrowers.
• Main risks: smart-contract failures, bad debt in the market and stablecoin depegs.
• How the Fund handles them: only large, long-running markets are used, spread across more than one protocol.

Liquid staking (10%)

Liquid staking earns staking rewards while holding a token that can still be sold or used. It adds a long-term, network-level yield to the Fund.

• Earns from: staking rewards.
• Main risks: the staking token trading below its value, and the staking protocol's contracts.
• How the Fund handles them: only the most widely used staking tokens are held.

$PEN buybacks (15%)

15% of the Fund goes to buying $PEN on the open market. Bought-back tokens are burned, so they leave circulation for good. With fewer tokens in circulation, every token that's left owns a slightly bigger share of the Fund.

• How it works: the Fund buys $PEN in small amounts over time rather than all at once, and burns what it buys.
• Why: it puts steady buying behind the token and raises every remaining holder's share of the Fund.
• Main risks: buybacks don't set the price. $PEN can still fall, and money spent on buybacks isn't earning yield.
• Every buyback and burn is published, with the date, the amount spent and the tokens burned.

Cash reserve (5%)

A slice of the Fund stays in stablecoins, ready to pay holders who sell straight away without having to unwind a strategy first. It also gives the Fund room to move into a better opportunity quickly.

How the Fund rotates

Rates move all the time, so the Fund doesn't sit still. It reviews its positions regularly and moves money when a better risk-adjusted rate opens up, using the same live rates you see in the app.

1. 1

   Compare

   Every strategy's current rate is compared, after fees, against the alternatives in its bucket.
2. 2

   Check the risk

   A higher rate only counts if it fits the Fund's limits: liquidity, track record and how much is already there.
3. 3

   Move

   Money moves when the gain is worth the cost of moving it. Small differences aren't chased.
4. 4

   Publish

   Every change in allocation is shown on this page.

Risk limits

• No more than 25% of the Fund in any single protocol.
• No more than 15% of the Fund in any single vault or market.
• At least 5% kept in stablecoins as a cash reserve for payouts.
• Only products Pecun lists, with deep liquidity and a track record.
• Leverage only inside delta-neutral strategies, where it's hedged.
• Buybacks capped at 15% of the Fund.

Your share

Your share of the Fund is simple: the tokens you hold, divided by the $PEN in circulation, times what the Fund is worth. The supply starts at 1,000,000,000 and shrinks as buybacks burn tokens.

Getting paid when you sell

When you sell $PEN, the contract pays you your share of the Fund automatically, on top of what you get for the tokens. Your share is worked out from the Fund's value at that moment, so it includes whatever the Fund has earned while you held, or reflects what it has lost.

• Nothing to claim: the payout happens in the same sale.
• Paid from the cash reserve first, so sellers don't have to wait for a strategy to unwind.
• The 3% tax still applies to the sale, and goes back into the Fund for the holders who stay.

Transparency and reporting

• The Fund's wallet address is published here, so anyone can see its balance and positions on-chain.
• The live allocation chart replaces the target chart above once the Fund is running.
• Every move between strategies is listed, with the date, the amount and the reason.
• Every buyback and burn is listed, with the amount spent and the tokens burned.
• A regular report shows tax collected, yield earned, payouts made and the Fund's value.

Risks

Questions about the Fund

Can Pecun take money out of the Fund?

The Fund is only for investing and for paying holders. Its wallet and every movement are public, so anyone can check.

What if a strategy loses money?

The Fund's value goes down, and so does every holder's share. Spreading money across strategies and protocols is how the Fund limits that.

Does the Fund buy $PEN?

Yes, with 15% of the Fund. Bought-back tokens are burned, which shrinks the supply and raises every remaining holder's share.

Where are the numbers?

On this page: the Fund's wallet, the live allocation and regular reports, once it's running.