Tori Brings Institutional Trades On-Chain, Fills $50M Before Launch

By Chainwire

Amsterdam, Netherlands, July 27th, 2026, Chainwire

Delta-neutral yield from global money markets, uncorrelated with crypto cycles.

Tori's strUSD yields 12% APY. That number comes from the same carry trades pension funds and the world's biggest banks have been running for 50 years. The difference: those trades required eight-to nine-figure account minimums and months of onboarding per jurisdiction. Tori puts them into a composable token on Ethereum, with no minimum and no gatekeeper.

The protocol filled its $50 million pre-deposit cap in seven days.

The core strategy is straightforward: borrow in a low-rate currency like the US dollar, deposit in a high-rate global market currency, hedge the currency risk back to USD. The spread is the yield, uncorrelated with crypto cycles, and unlike most on-chain strategies, it doesn't decay under inflow. Individual banks run this trade at $30 to $50 billion per jurisdiction.

"The yield is generated from real economic activity, not from recycling crypto- native capital," says Samed Duzcay, Tori's founder. "The trade itself is not proprietary. The hard part is access. "

"You need a local bank account in each jurisdiction, custodial arrangements, tax IDs, regulatory clearances, KYC and KYB documentation that gets reviewed locally. You are looking at months or sometimes even years to onboard into each of these markets. And to be taken seriously by the top tier desks, you need at least an eight-to-nine-figure balance sheet just to sit at the table."

Tori operates as a strategy manager. Execution runs through regulated institutional desks with multi-decade track records, one partner with over 25 years running similar strategies for pension funds and trust funds, managing $10-20 billion in assets. These desks execute what the protocol prescribes and nothing else. No discretion. No deviation. Full reporting. Defined risk limits.

Users supply USDC or USDT to receive trUSD, a synthetic dollar, which can be staked for strUSD. strUSD is a standard ERC-20: liquid, transferable, and composable across DeFi protocols including Morpho, Pendle, and Curve. It can also be used as collateral on lending markets to amplify returns through looping.

Tori uses Accountable, an independent attestation provider operating in a trusted execution environment, to construct an on-chain balance sheet in real time using zero-knowledge proofs. RockawayX, a digital-asset investment firm managing over $2B, serves as the vault's risk curator and anchor LP, independently monitoring all off-chain positions and capital flows.

Smart contracts are audited by Sherlock and Nethermind. Hypernative provides around-the-clock threat monitoring. All contract upgrades are subject to 24-hour timelocks, and no party, even holding every key to every multisig, can mint unbacked tokens.

About Tori Finance

Tori Finance brings institutional-grade delta-neutral strategies on-chain. The

protocol is backed by a seed round led by Delphi Ventures and is live on Ethereum.

Access Tori's products at app.tori.finance. Follow @tori_finance on X for updates.

Contact

Samed Duzcay
sam@tori.finance

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