The Challenge
Running modular, market-neutral strategies across multiple DeFi venues comes with significant operational demands. Strategy execution, risk controls, fee enforcement, and investor reporting must remain accurate and transparent at all times. For an investment manager focused on institutional discipline, building and maintaining the backend systems required to support this environment can divert resources from strategy, slow innovation, and restrict scale.
Passif sought an infrastructure that could uphold rigorous governance and transparency while simplifying fund administration and enabling seamless growth.
The Solution : Onyx for seamless administration
Onyx gives Passif the foundation to design, launch, and operate a tokenized hedge fund entirely on-chain. Granular accounting, fee frameworks, and subscription reporting capabilities are built directly into the infrastructure, reducing dependence on custom systems and materially simplifying operational overhead. Passif gains the ability to scale a sophisticated, multi-strategy portfolio while preserving investor safeguards and clear visibility into fund activity.
“We built Passif to deliver stable, market-independent returns, something traditional finance has stopped delivering. Onyx lets us structure and run our entire fund stack without ever touching custom infrastructure. It is fast, clean, modular, and investor-friendly by design. We needed a platform that gives our investors clear transparency and seamless scalability.”
— Eriz Zarate, Founder, Passif
Executing a Hedge Fund strategy with Ledger Wallets
The Passif Alpha Fund is a delta-neutral hedge fund designed for investors seeking consistent yield alongside strict capital preservation. Powered by Passif’s proprietary NeutralLoop™ framework, the fund reallocates stable-value assets across multiple hedged DeFi strategies, targeting 3–4× capital efficiency while eliminating directional market exposure.
Through Enzyme’s flexible architecture, capital can be deployed across a wide range of integrated venues including Pendle, Morpho Blue, Aave V3, Curve, Convex, EigenLayer, Swaap, Gearbox and others. Onyx removes the infrastructure constraints that typically limit multi-protocol execution, allowing Passif to operate its strategy with full modularity.
Execution of the underlying strategy is carried out using Ledger hardware wallets, bringing hardware-level security to day-to-day strategy management. Investors still benefit from T+0 liquidity and real-time visibility into activity, while Onyx maintains the operational structure needed for an institutional-grade experience.
Results and Benefits
• Accelerated time-to-market
• Adaptability with Passif’s homemade strategy automation framework NeutralLoop™
• Governance and transparency aligned with institutional expectations
• Scalable product architecture that supports future strategy expansion
• Real-time investor engagement and T+0 liquidity
• No backend engineering required
Call to Action
Are you building the next generation of tokenized financial products? Connect with our team to learn how Onyx can support your strategy. https://enzyme.finance/contact-us
