Proposal: D2 Finance Ether.fi - SPX Premium Skew RWA Strategy & Vault

OPENPull Request

by HWxFrank28-03-2026Incoming

Development Fund Proposal Submission

Proposal file: /proposals/D2Finance Etherfi SPX Premium Skew RWA.md

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Summary

D2 Finance and Ether.fi propose to deploy the first institutional-grade, uncorrelated RWA yield strategy on the Canton Network — the SPX Skew Premium RWA Strategy — systematically harvesting S&P 500 volatility risk premium targeting 7–12% gross annual yield, entirely uncorrelated with DeFi rates. The proposal requests $225,000 fixed + up to $166,667 variable performance cushion + optional $100,000 extension, structured across 5 milestones from legal setup through live $50M pilot deployment to full RWA tokenization.

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Checklist

[x] Proposal file added under /proposals/
[x] Milestones and funding amounts defined
[x] Acceptance criteria included
[x] Alignment with Canton priorities described

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Notes for Reviewers

D2 Finance, Etherfi, and the proposed Prime Broker are existing Canton validators; Ether.fi ($7B+ TVL) provides the $50M pilot capital commitment. D2's principals ran this exact SPX skew strategy at PAG.com for 5+ years under SS&C audit. Milestone 3 CC rewards are structured in two tranches — a fixed base (1% APR, $150k total) and a variable performance cushion (up to 4% APR, capped at $166,667) that draws down only when realized yield falls below the 8% gross target. Happy to answer any questions on structure or mechanics.