Glossary

Alpha sleeve. The part of Basis Plus Core that runs two narrow concentrated liquidity ranges, one on WETH/USDC and one on WBTC/USDC, each with a short sized once when the range opens. It takes 35% of the position's capital.

Basis. The USDC a position actually received at deposit, reduced in proportion on every partial withdrawal. Profit is settlement value minus basis, and the fee is charged on that difference only.

Basis Plus Core. The flagship product: an Alpha sleeve plus a dynamically hedged WBTC sleeve, deployed as three liquidity ranges and two shorts. Product code 1.

Dashboard NAV. The off-chain valuation computed every five minutes. It includes the hedge leg and is the figure the app shows. It is indicative and never used to charge a fee.

Delta Hedge Standalone. The conservative product: a single wide WBTC/USDC range with a tracked short that targets 80% of the position's BTC exposure. Product code 2.

DynHedge sleeve. A wide concentrated liquidity range whose short follows its live exposure and is resized when coverage drifts more than 30% from target. It takes 65% of Basis Plus Core and all of Delta Hedge Standalone.

Emergency withdrawal. The exit that always works. Available 24 hours after a withdrawal request, it closes every range without slippage protection and pays out every balance the vault holds for the position, in kind. Margin still at Hyperliquid becomes a claim.

Engine v25. Tuo's proprietary quantitative engine. It decides ranges, hedge sizes and rebalance timing once a day from closed daily candles. Its core is frozen and byte-checked; it runs as a service that the backend calls.

Guarded launch. The first mainnet phase: Arbitrum One only, two products, a 25,000 USDC cap per position, and an independent external review that gates the launch itself.

HL operator. The Tuo-operated Hyperliquid account bound to one position. It receives the position's bridged margin, holds the short, and is the only address the vault will pull margin back from. Its signing key lives in a cloud HSM.

Hedge. A short perpetual position on Hyperliquid that offsets most of the price exposure a liquidity range carries. Tuo shorts BTC and ETH only.

Idle balance. USDC or other tokens the vault holds for a position that are not deployed in a range or bridged to the hedge. A withdrawal is paid from idle USDC.

Keeper. The address that executes rebalancing calls against the vault on Tuo's behalf. It holds KEEPER_ROLE, is rate limited, and cannot route funds anywhere except back into the vault, to the bound HL operator, or to the NFT owner.

Performance fee. 30% of realized profit, charged at withdrawal on the share withdrawn. Immutable, pull-payment, never charged on capital.

Position NFT. The ERC-721 token minted to you at deposit. Holding it is the whole authority model: the owner is the only address that can withdraw, and transferring it transfers the position.

Range. A Uniswap V3 concentrated liquidity position between a lower and an upper price. It earns trading fees only while the market price is inside it.

Settlement NAV. The on-chain valuation: idle balances plus liquidity ranges priced at the 30-minute TWAP. It excludes the hedge and is deliberately unavailable while margin is bridged out. It is the sole base for the fee.

Sleeve. A named slice of a product's capital with its own range width, hedge model and signal. Basis Plus Core has three sleeves, Delta Hedge Standalone has one.

Treasury Safe. The 2-of-3 multisignature wallet that holds TREASURY_ROLE. It rotates the keeper, maintains allowlists, sets the per-position cap and receives fees. It cannot change the fee, upgrade anything, touch a position or block a withdrawal.

TWAP. Time-weighted average price. The vault prices every asset from the Uniswap pool's own 30-minute average tick, with a 2,000-observation depth floor and a 200-tick gate against the spot price. There is no external oracle.

Withdrawal request. The first of the two owner calls that make up a normal exit. It names the share to withdraw, starts the hedge unwind, blocks further deposits into the position, and starts the 24-hour clock for the emergency withdrawal. A request for 0% cancels it.