Neutral Trade Holiday Recap
Happy 2026, everyone! It’s been over a year since Neutral Trade launched!
From $0 to $60M+ TVL ATH, 17+ strategies, top 5 at Colosseum, 3x audits, and a $2M raise.
Here’s a month-by-month look at some of our key highlights over this year. We’re Grateful for all the community support in 2025!
October 2024: The Launch
We officially launched our flagship, the JLP Delta Neutral vault. The world’s first delta-hedged JLP product on Solana!
Powered by Jupiter perps fees and Drift funding rates.
It kicked off with ~70% APY 👀
October 2024: Recognition
Shortly after, we were featured by Drift after being the first team to offer the JLP Delta Neutral Strategy!
November 2024: USDC Basis
During this time, $SOL funding was quite negative on Drift. Using $INF from Sanctum, we created the USDC Basis vault, which at the time earned +30% APY!
We have disabled this strategy for now until rates improve.
Nov 2024: Hackathon
We came forth at Colosseum!
Thanks again crabbylions, mattytay, and n8levine for recognizing our efforts, and thank you to our first angel, TakayamaJoe, for recommending us to participate!
March 2025: Exposure
Our products, along with an interview with our founder Jared_Terminal, were featured by DriftFDN!
Also, we launched our new website!
April 2024: REKT
While JLP DN hedges both JLP’s unutilized assets and trader PnL, we noticed one thing.
Over time, traders lose.
This brought us to create the Traders REKT vault, where we hedge JLP’s unutilized assets but kept exposure to trader PnL!
Our first “Bet Vault.”
May 2025: Entry To Indices
Our first venture into index products. The Hyper JLP vault!
Recreating $JLP with a few changes, we had $HYPE instead of $ETH, LST’s instead of $SOL, and JLP DN instead of $USDC.
Want top cap tokens + yield? If so, this vault is for you!
May 2025: Support From Early Believers
We raised $2M from skylandvc, Ergonia, BlackPine, enzymefinance, MonkeDAO, and Solana-native angels and quants to build the ultimate platform for sharing strategies on-chain!
This fuel accelerated everything that followed.
June 2025: Bootstrap
With our first private credit vault, we helped bootstrap TermMaxFi.
While our goal is to democratize access to hedge fund strategies, with this product, we democratized access to private deals.
The $2M cap was filled in a week!
June 2025: All Roads Lead Back To Solana
With our own vault infrastructure built and audited, we were able to bring all yields back to Solana!
We did so with the Hyperliquid Funding Arb vault.
Take deposits on Solana, execute on Hyperliquid, then bring returns back!
July 2025: Generating Yield For Our Partners
Everyone loves yield. Individuals, projects, funds and foundations.
In July, we were happy to serve our close partner, Perena, with their first vault product!
July 2025: External Traders
Seeking to onboard additional products for our users, we onboarded a trading team offering a CTA-Momentum strategy that has returned 90% YTD for our in-house capital.
Trading on OKX and Binance , we mitigated counterparty and custody risks by using Copper Clearloop and Ceffu MirrorX.
Powered by our Neutral Strategy Vaults, the trading team holds trading access only via sub-accounts, with Neutral Trade retaining the authority to cut off trading if the drawdown cap is reached.
Aug 2025: Lending Market Curation
Kamino invited us to be a curator!
The NT Max Yield vault focuses on maximizing yield while employing a sophisticated risk management framework, including rebalancing when utilization reaches a threshold to ensure withdrawal liquidity.
Sep 2025: Aggregate
Naturally, it would make sense to curate yield across all lending protocols with our in-house risk management framework!
While still in the early stages, we are optimizing protocol caps and utilization caps based on protocol & liquidity risk, and managing liquidity coverage while maximizing yields.
September 2025: Unifying Liquidity
More recently, we introduced Moon LP, a cross-venue liquidity engine unifying Solana perps markets ( Jupiter + FlashTrade + Adrena ).
Unfortunately, Adrena was placed on maintenance mode; as such, we had to unwind and derisk. Shortly, we will be improving Moon LP to maximize the yields we farm for our users!
Oct 2025: Bring A Friend
We launch our Referral Program!
Capital introducers should be rewarded. Refer users, earn more points. Simple as that.
Look forward to more things on the way!
We also survived the black swan during 10/10 which turned out to be one of the biggest liquidation event.
Nov 2025: Under The Hood
Beneath the surface, we have made a huge number of optimizations to improve user experience, security, transparency, and infrastructure for the long term. There were delays in withdrawals and data loads during the tech migration but we should be smooth from now on!
Key changes:
- API showing our live performance.
- No hot wallets / private keys in any of our whole tech stack — fully supported by MPC and automations with whitelisted protocols and tokens.
- Clear separation between trading, tech and operations team.
A lot of studies and improvements were made observing the activities happened during 10/10, Stream finance and its ripple effects.
December 2025: Security & Transparency First
We completed our 3rd audit with OffsideLabs, this comes after our first two with Quantstamp and HalbornSecurity!
No major issues found!
December 2025: Website Updates
- API live, live portfolio data.
- Displaying allocation between trading venues, custodians, strategies.
- We also like AccountableData and have plans to use them soon.
Highlighting this year’s articles for long-form reads:
Covering our updates and products over the year, our long-form articles go into detail, providing an in-depth view of Neutral Trade.
https://x.com/TradeNeutral/articles
Thank You!
None of this happens without our depositors, partners, and community. Thank you for trusting us with your capital and our team’s risk management and execution capabilities.
