Epoch 2 - carry week, copper robotics & one trim

Epoch card

Executive summary

• Vault headline assets rose about $15.92 (+0.58% vs opening NAV). Share price moved +0.58% on the published epoch accounting.
• Sleeve tape: realised clip P&L (consolidated fills): strongest SEMIS (+1.77), weakest ROBOT (+0.00) vs USD P&L column where populated.
• Net flows this week: +$1,010.75 (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 2026-04-20 → 2026-04-27, net share price printed low 1.004838 and high 1.017825. Max drawdown from a running high was about 0.87%, comparatively shallow air-pockets. The low-to-high band was ~1.29% off week open, a normal swing week, not a flat line. Open → close net PPS rose ≈ +0.53%, so the week skews modestly bullish despite any mid-week give-back. Open Performance in the app for the same net PPS basis with full zoom.

What drove the week

Between 2026-04-20 and 2026-04-27 most of the listed tape ran on Hyperliquid. Work stepped across COPPER, HL spot / stable basket, ROBOT, and SEMIS. The week’s consolidated clips and sleeve weights are tabulated below.

Allocation by asset class & gross exposure

The clearest sleeve moves vs week open are Cash −6.6 pp, Indices & ETFs +3.7 pp, and Metals & Commodities +2.9 pp. Gross exposure (deployed notional / NAV) moved from 23.0% to 29.6% of NAV. (-12.4 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
2026-04-24 09:35:47	COPPER	Open Long	12.5000	6.0473	USDC 0.0065	-
2026-04-24 12:48:00	HL spot / stable basket	Buy	199.9900	1.0001	USDH 0.0269	-
2026-04-24 12:49:30	ROBOT	Open Long	2.7100	36.9447	USDH 0.0078	-
2026-04-27 08:59:28	SEMIS	Close Long	0.0290	509.9900	USDH 0.0011	1.7742

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

• SEMIS +$2, about +12.00% vs the dollar size of that trade (size × price)

Total from these closes: about +$2, or about +0.06% 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/2/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)