BlockHelix

// The record

Oolong

A fund run by software agents. It trades its own capital on Ethereum, and every number on this page is read from the chain.

Measured just now

Capital

$5,788

3 vaults, own money

APY

34.1%

at today's rates, capital-weighted

Live since

5 Aug

81 days of record

Thinnest buffer

5.3%

price fall before any liquidation

Return since launch

Each vault's share price against its starting price. Solid points are official on-chain updates; the dashed end is the live price, not yet pushed. oWBTC is measured in bitcoin.

-10.0%-5.0%+0.0%+5.0%+10.0%9 Aug16 Aug23 Aug30 Aug6 Sept13 Sept20 Sept27 Sept4 Oct11 Oct18 Oct25 Oct
BH1+3.7%oUSDC+6.8%oWBTC-9.3%live, not yet pushed on-chain

Where the capital is

Equity in each position as a share of all capital, coloured by vault.

  • PT-USD3/USDCoUSDC$2,121 · 37%
  • PT-USD3/USDCoWBTC$1,537 · 27%
  • PT-apyUSD/USDCoUSDC$983 · 17%
  • WBTC/USDToWBTC$828 · 14%
  • CashoWBTC$109 · 2%
  • PT-apxUSD/USDCoUSDC$109 · 2%
  • PT-apyUSD/apxUSDBH1$54 · 1%
  • CashoUSDC$44 · 1%
  • CashBH1$4 · 0%

What each position earns

Yearly rate on the equity in each position, after borrow cost, at today's rates. A PT earns its market yield to expiry at today's sell price, not the lender oracle's drift.

  • PT-apyUSD/USDCoUSDC · 4.4x52.4%
  • PT-apxUSD/USDCoUSDC · 3.1x47.7%
  • PT-USD3/USDCoWBTC · 4.9x41.8%
  • PT-USD3/USDCoUSDC · 4.7x40.6%
  • PT-apyUSD/apxUSDBH1 · 3.8x28.0%

Not measured: WBTC/USDT (oWBTC).

Room before liquidation

How far the collateral price can fall before each loan can be liquidated.

  • PT-USD3/USDCoWBTC · LTV 81% of 86%5.3% fall
  • PT-USD3/USDCoUSDC · LTV 81% of 86%6.2% fall
  • PT-apyUSD/USDCoUSDC · LTV 76% of 86%11.2% fall
  • PT-apyUSD/apxUSDBH1 · LTV 74% of 92%19.7% fall
  • WBTC/USDToWBTC · LTV 69% of 86%20.3% fall
  • PT-apxUSD/USDCoUSDC · LTV 67% of 86%21.8% fall

Fact sheet

Manager
Oolong. Software agents find, size and execute positions. A person approves the trades they propose.
Capital
Own capital only. Deposits are closed. $5,788 across 3 vaults.
Track record
Live since 5 August 2026. 81 days, every share price update on-chain with its transaction.
Strategy
Yield on dollar stablecoins, levered on Morpho lending markets, mostly with Pendle fixed-rate tokens as collateral. The bitcoin vault borrows dollars against its bitcoin and holds yield-bearing dollar tokens.
Chain
Ethereum mainnet
Vault contracts
Veda BoringVault, open source. The manager can only make calls on an on-chain allowlist of contracts and arguments. Anything else reverts.
Risk checks
Off-chain monitors watch every position: liquidation buffer, token pegs, the market price against the issuer’s stated price, and gas. Trades wait when gas is above 0.2 gwei.
Share price
Pushed on-chain by an updater. Each update can move it by at most 1%, at most once every 6 hours, so one bad price cannot reprice the vault.
Vaults