Epoch 1 - deposits land, semis & curves working

Epoch card

Executive summary

• Vault headline assets rose about $42.19 (+2.86% vs opening NAV). Share price moved +2.86% on the published epoch accounting.
• Oracle sleeve move (perps: Δ unrealised P&L; spot: notional; cash excluded): CRCL +$16 vs NUCLEAR −$1.
• Net flows this week: +$1,250.00 (deposits vs withdrawals).
• Liquidity / wallets: routine multisig → Hyperliquid buffer cadence; merged ledger shows no extra wallet hop worth calling out beyond the standard rails (see appendix).

Performance

Over 2026-04-13 → 2026-04-20, net share price printed low 0.984003 and high 1.025279. The largest drawdown from a running intra-week high landed at 1.92%. That is the clearest stress point on the path. Volatility showed up in the band: low to high spanned ~4.19% versus week-open net PPS. Net PPS closed well above week open (≈ +2.81%), headline bullish drift on this measure. Open Performance in the app for the same net PPS basis with full zoom.

What drove the week

From week-open to week-end oracle snaps (cash sleeves excluded; perps: Δ unrealised P&L; spot: notional), sleeve-level marks moved most in favour of CRCL +$16 and most against NUCLEAR −$1. For every name with a listed clip this week, sleeve-level move (week open → week end, cash excluded; perps: Δ unrealised P&L; spot: notional) moved: CRCL +$16, XYZ100 +$9, SEMIS +$3, WTIOIL +$2, and NUCLEAR −$1. Short clips sat inside that rotation while the rest of the book stayed mostly long.

Allocation by asset class & gross exposure

The clearest sleeve moves vs week open are Cash −12.6 pp, Indices & ETFs +8.8 pp, and Metals & Commodities +3.7 pp. Gross exposure (deployed notional / NAV) moved from 29.4% to 42.0% of NAV. (-2.0 pp on gross exposure vs prior week-end). Same asset-class bands as Allocations (History tab); figures are % of vault NAV.

Listed clips: Hyperliquid

Time (UTC)	Instrument	Side	Size	Price	Fee	Realised close P&L
2026-04-14 07:16:31	HL spot / stable basket	Buy	199.9900	1.0001	USDH 0.0269	-
2026-04-14 12:09:36	SEMIS	Open Long	0.2250	448.8300	USDH 0.0079	-
2026-04-14 12:11:21	SEMIS	Close Long	0.2250	448.4300	USDH 0.0078	-0.0900
2026-04-14 12:12:15	SEMIS	Open Long	0.2250	448.8100	USDH 0.0079	-
2026-04-15 14:55:30	XYZ100	Close Long	0.0020	25985.0000	USDC 0.0045	2.2120
2026-04-16 14:45:02	WTIOIL	Open Short	0.8500	90.2780	USDC 0.0066	-
2026-04-16 14:48:11	CRCL	Close Long	0.1500	103.3845	USDC 0.0013	1.1443
2026-04-17 09:10:12	NUCLEAR	Open Long	0.5200	146.3200	USDH 0.0059	-
2026-04-17 12:58:40	WTIOIL	Close Short	0.2000	82.6230	USDC 0.0014	1.5310

Realised P&L on closes (what Hyperliquid books when a position is closed):

• SEMIS −$0, about -0.09% vs the dollar size of that trade (size × price)
• XYZ100 +$2, about +4.26% vs the dollar size of that trade (size × price)
• CRCL +$1, about +7.38% vs the dollar size of that trade (size × price)
• WTIOIL +$2, about +9.26% vs the dollar size of that trade (size × price)

Total from these closes: about +$5, or about +0.33% of the vault’s opening NAV for the week. Trading fees on those fills are not subtracted here.

GET https://api.volta90.trade/transactions/VLT90/epoch/1/timeline?full=true
GET https://api.volta90.trade/oracle/VLT90/epochs
GET https://api.volta90.trade/oracle/VLT90/snapshots?sort=asc&limit=1000&from=[epoch-open]&to=[epoch-close]
POST GraphQL PeriodSummary (vault week anchor; indexer endpoint in volta ops docs)