FeaturesHow it worksVaultDeepBookRisk
Launch app
Earn and borrow on DeepBook

Deposit once,a vault that compounds

1 txdeposit to start earning
3markets: Predict, Margin, borrow
10%vault fee, on profit only
Capabilities

Liquidity
on rails.

Deposit once and Tethra puts it to work on DeepBook: PLP liquidity on Predict, or lending on Margin. Your vault shares double as collateral you can borrow against. No active management.

01

Independently priced, to 1e-5

Every position is valued by Tethra's own SVI options engine and checked against DeepBook Predict's live on-chain ask to a 1e-5 median error, so your share price is verifiably honest, not asserted. The same engine renders the live volatility surface inside the app.

~1e-5median pricing error
02

Reclaimed referral yield

Tethra routes its margin deposits through a DeepBook supply referral, reclaiming the referral half of the pool spread the protocol would otherwise keep, and compounds it back to depositors.

50%of the spread, reclaimed
03

Risk you verify, not trust

A live per-oracle exposure breakdown and an instant BTC stress test, read from on-chain state and repriced through the surface, so whether the pool is safe is something you check yourself.

liveexposure + stress, on-chain
04

Hands-off, keeper-run

A keeper redeems settled Predict positions in real on-chain transactions, keeping every depositor's NAV current and compounding returns with zero manual steps. Withdraw to dUSDC any time.

0manual actions
Process

Deposit.Supply.Earn.

On-chain infrastructure
Sui network sphere

Trustless by
design.

Move vaults supply liquidity to DeepBook Predict and Margin on-chain. A TypeScript keeper redeems settled Predict positions. Vault shares double as collateral: borrow dUSDC against them in an isolated market.

90%to you

Vault depositors keep 90% of yield, with the 10% performance fee on realized profit only. The borrow market takes no supply fee.

3Live markets
0Management fee
live
Predict vaultPLP supply / redeem
live
Margin vaultSUI + DBUSDC lend
live
Borrow markettPLP collateral
live
Keeperauto-redeem
live
Sui Testnetlive deploy
LIVE

Proven
on testnet.

0
Markets live on Sui testnet
Predict, Margin, and borrowing
on realized profit only
Performance fee
0%
withdraw any time
Management & deposit fees
0
Live on Sui testnetPredict, Margin, and borrowingKeeper redeems Predict positionsNo management fee90% kept by depositors
Composability

Composes
on Sui.

Tethra composes with DeepBook Predict and Margin on Sui. Your vault shares (tPLP) compose further as collateral to borrow dUSDC against. One deposit, fully on-chain.

Chain
Sui
Protocol
DeepBook
Asset
dUSDC
Asset
SUI
Oracle
Pyth
3Live markets
DeepBookPredict + Margin
PermissionlessNon-custodial
View the architecture→
Security

Automated,
not reckless.

Your principal stays in trustless on-chain vaults. Conservative caps bound vault exposure, and the borrow market liquidates over-leveraged positions before they turn into bad debt.

Stress tested
0Cap breaches in BTC crash regimes
CapsStress-testedOn-chainTested math

Conservative caps

Exposure limits bound drawdown by design.

Virtual shares

Guards against first-deposit share attacks.

Overflow-safe math

Share accounting that never silently rounds.

Self-redeeming liquidation

Bad loans redeem collateral through the vault, no oracle.

Open source

Read the code.
Verify it yourself.

Move smart contracts with a TypeScript keeper and tooling. Vault state is verifiable on-chain, and the Predict strategy is backed by reproducible backtests.

Move + TypeScript

On-chain vaults with a typed keeper and tooling.

Three live markets

Predict, Margin, and tPLP borrowing on Sui testnet.

Verifiable on-chain

Read vault state and contracts on the Sui explorer.

Reproducible backtests

Replay the Predict strategy on real historical BTC data.

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How it works

What the design guarantees.

“
The Predict vault supplies PLP liquidity to DeepBook Predict, auto-compounds returns, and caps exposure. Depositors keep 90% of profit.
P

Predict vault

Tier 1, PLP liquidity, Predict

90%You keep
Key principles
Markets

Three markets.
You keep more.

One deposit, three composable markets. You keep 90% of every gain and all of your principal, and supplying to the borrow market is free.

Organic whale
Tier 2

Margin lending

Lend SUI or DBUSDC on DeepBook Margin.

90%

of profit, plus reclaimed referral yield

  • Variable yield paid by margin borrowers
  • 50% referral fee reclaimed and compounded for you
  • 10% performance fee, on profit only
  • SUI and DBUSDC pools
  • No management fee
Core market
Tier 1

Predict PLP vault

Underwrite BTC markets on DeepBook Predict.

90%

of every gain is yours

  • Earn the Predict premium, auto-compounded
  • 10% performance fee, on profit only
  • No management, deposit, or withdrawal fee
  • A keeper redeems your settled positions
  • Risk bounded by conservative exposure caps
Tier 3

tPLP borrow market

Supply dUSDC, or borrow against your tPLP.

100%

of the borrow interest to suppliers

  • Supply dUSDC with zero supply fee
  • Borrow up to 50% LTV against your tPLP
  • Self-redeeming liquidation, no oracle
  • Only fee is a 5% liquidation penalty
  • Open, isolated market
No management fee on any tierFees only on realized profitBorrow market takes no supply fee
Read the fee logic

Ready to earn
or borrow?

Supply liquidity on DeepBook Predict or Margin, or borrow dUSDC against your vault shares. Deposit once and let the protocol do the rest.

Make your first depositExplore the markets

Non-custodial vault on Sui testnet