> For the complete documentation index, see [llms.txt](https://docs.kpk.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.kpk.io/funds/funds/usd-alpha/overview.md). # Overview The USD Alpha Fund is a multichain, USDC-denominated fund designed to generate yield from delta-neutral strategies across the DeFi ecosystem. Drawing on experience managing over $2B in assets for DeFi DAO treasuries, KPK applies a structured investment framework and active management approach to control risk and pursue targeted yield outcomes. ### **Income Generation** The Fund aims to generate risk-adjusted income through a diversified set of DeFi strategies, including lending and borrowing, yield farming, staking, and other protocol-based yield opportunities, as well as select private transactions, in accordance with the Fund’s investment framework. ### **Relative Return** The Fund seeks to deliver returns, net of fees, in excess of DeFi savings rates' benchmarks through active deployment of capital across delta-neutral strategies. ### **Diversification** The Fund seeks to manage concentration risk by diversifying exposures across multiple DeFi protocols, blockchain networks, and position types, thereby reducing reliance on any single source of return or risk factor. ### **Capital Preservation** The Fund prioritises capital preservation through disciplined risk management and allocations to DeFi protocols exhibiting adequate liquidity, solvency characteristics, and operational robustness, with the objective of limiting downside risk across market conditions. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.kpk.io/funds/funds/usd-alpha/overview.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.