Morini Capital

The new vaults are not all doing the same thing. aFXArbUSDTRY gives access to a delta neutral market making strategy around USD/TRY. StockMarketTRBasisTrade focuses on a regulated delta neutral basis trade around Borsa Istanbul equities. CarryTradeUSDTRYLeverage gives access to a leveraged Turkish Lira carry trade strategy. Different strategies. Different risk profiles. Different use cases.

Introducing Vaults: Morini aFXArbUSDTRY Delta-neutral by design The strategy that has anchored USP since launch - Balsa Market Making Fund (BMMF, @BalsaFinance) is now accessible as a standalone tokenized vault on Ethereum. This vault provides tokenized access to Balsa Market Making Fund (BMMF), a delta-neutral market-making fund in the Turkish crypto market. The strategy captures spreads between USD/TRY rates on Turkish crypto exchanges (Binance TR, OKX TR) and fiat banking rails, executing T+0 arbitrage on intra-day price discrepancies and T+1 carry on overnight interest with Turkish banks. TRY positions are continuously hedged, so returns come from spread capture rather than directional exposure. ERC-20. USDC-denominated. T+0 settlement. 🧵

@AccountableData @PikuFinance 🤝

Morini Capital's FX Arbitrage Vault is live on YieldApp. @PikuFinance's @MoriniCapital is launching a delta-neutral FX arbitrage vault on Ethereum, with the underlying NAV continuously computed and verified onchain through Accountable's Data Verification Network.

@PikuFinance @AccountableData 🤝

@AccountableData @MoriniCapital 🤝

Today, Piku Finance launches three new tokenized vaults, all issued by @MoriniCapital on Ethereum. Each provides on-chain access to a different regulated yield strategy: • Morini aFXArbUSDTRY provides tokenized access to Balsa Market Making Fund (BMMF), a delta-neutral market-making fund in the Turkish crypto market. • Morini StockMarketTRBasisTrade provides access to a regulated Delta-Neutral Basis Trade arbitrage strategy on Borsa Istanbul equities. • Morini CarryTradeUSDTRYLeverage provides access to a regulated Turkish Lira leveraged carry trade strategy. This is the most material product expansion since USP. 🧵

I think Turkey has some of the most interesting high-yield opportunities rn, but the problem is that we don't really have a good way to access them. About a month ago, Proposal 34 on @SnapshotLabs helped move Piku’s public positioning from PikuDAO / USP into @PikuFinance, which is a more professional FX Yield Terminal. Now, Piku is launching 3 new vault products, all issued by Morini Capital: → Morini aFXArbUSDTRY A standalone vault for the main strategy behind USP, focused on Turkish FX arbitrage. → Morini CarryTradeUSDTRYLeverage The higher-risk TRY carry vault. More upside potential, but also real FX + leverage risk. → Morini StockMarketTRBasisTrade A delta-neutral vault for Turkish equity arbitrage. It’s USD-hedged and built to act as the diversifier. I think the interesting part here is that Piku/Morini turns access to these off-chain Turkish strategies into ERC-20 vault tokens. So instead of needing traditional fund access, local market setup, or direct relationships with Turkish operators, you can get the exposure packaged into a vault token that you can hold in your wallet. NGL, I think this gives people way more choice compared to most generic stablecoin/vault products.

Proposal 40 is live: Allocate PIKU Incentives to Morini Vault Ecosystem This proposal seeks to expand the PIKU incentive program by including three newly launched yield products within the Piku Finance ecosystem: - Morini FXArbUSDTRY Vault - Morini StockMarketTRBasisTrade Vault - Morini CarryTradeUSDTRYLeverage Vault The objective is to accelerate adoption of these vaults, attract new capital, and strengthen the growth of Piku Finance's yield-generating product suite. Proposal: snapshot.box/#/s:pikudao.et… Forum: pikudao.discourse.group/t/proposal-40-…

Proposal 39 is Live: Add Morini StockMarketTRBasisTrade Vault and Morini FXArbUSDTRY Vault to USP Backing This proposal seeks to add two new vaults to the USP backing framework: Morini StockMarketTRBasisTrade Vault and Morini FXArbUSDTRY Vault. Proposal: snapshot.box/#/s:pikudao.et… Forum: pikudao.discourse.group/t/proposal-39-…