Adapt3r Digital LLC (“Adapt3r Digital”) is a U.S.-based fund manager specializing in short-term U.S. Treasury Bills. Our team combines multifaceted expertise in the asset management industry, spanning private credit, securitization, and digital assets.

Description

Adapt3r Digital

Our team combines multifaceted expertise in the asset management industry, spanning private credit, securitization, and digital assets.

Marcus Leanos

Sean McElrath

Domenic Salvo

USD Coin

ADAPT I LP ("tfBILL" or the "Fund") provides non-U.S. investors access to short-term U.S. Treasury Bill yields. Our investment strategy is designed to preserve capital, offer stable returns, and maintain high liquidity.

Strategy

The Fund is incorporated in the British Virgin Islands and is accessible only to qualified non-US investors.

Fund

The Fund operates on a daily liquidity basis, aiming to process all redemption requests within one trading day. To ensure optimal fund utilization, approximately 95% of the fund's assets are invested at any given time. Cash drag is minimized through our access to regulated treasury management offerings through US broker-dealers, which allow us to earn attractive returns on cash holdings, even during periods of lower investment utilization.

Liquidity

Our fund's operations are safeguarded by robust internal controls, including consensus-based approval mechanisms and role-based governance protocols. These measures are bolstered by multi-layered physical and digital security protections. On-chain assets are safeguarded by multi-sig operations, which require multiple private keys for transaction authorization. Our off-chain assets are custodied by U.S. SEC- and FINRA-regulated broker-dealers, adding an extra layer of security and stability. Regular audits are conducted by reputable third-party firms to ensure adherence to stringent security protocols.

Controls and Asset Security

Transparency is a cornerstone of our operations. Our integration with the TrueFi protocol ensures every transaction and fund allocation is recorded on-chain, providing an auditable, immutable ledger. This allows investors to independently verify transactions.

Regular audits are performed by independent third parties, and a third-party fund administrator publishes daily net asset value (NAV) reports, which are uploaded directly to our Transparency Board. We also integrate with Chainlink's proof-of-reserves technology, providing automated audits of underlying assets.

Transparency

Adapt3r Digital, as a U.S.-based fund manager, complies with U.S. regulatory standards for compliance and asset management. Additionally, the Fund, which is incorporated in the British Virgin Islands, complies with the relevant regulations of its jurisdiction and has applied for approval with applicable BVI fund regulators. Our collaboration with institutional-grade, regulated service providers across both territories strengthens our commitment to high standards of compliance, making the Fund a trusted choice for investors seeking to preserve capital and earn yield in a compliant manner.

Legal and Compliance

Estimated weighted average gross yield to maturity of the Fund's US Treasury Bill holdings.

Manager Profile