Custody & Security

Participant deposits sit in the on-chain deposit contract until the cohort is processed. On deployment, the curator moves the net to SYNT (BVI) Ltd, which subscribes into Hilbert Basis+ as principal and investor of record.

Capital in transit passes through segregated custody accounts at Utila. Once subscribed, it is held fund-side.

Participants hold vault shares. They do not invest into SYNT (BVI) Ltd and hold no claim against it. The SPV subscribes into the fund in its own name, as principal.

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Security Policy

The primary control is the whitelist. Outbound transfers can only reach pre-approved destinations, enforced at the infrastructure level. Even a complete signing quorum cannot send assets to an address that has not first been whitelisted, and adding an address to the whitelist is itself a quorum action.

Above that sits the approval layer. On-chain price updates and any movement of capital outside the routine transfer matrix execute only under a joint approval policy, enforced at the custody layer, in which each operating party is a required signer.

On-chain, these actions originate from designated operator addresses; the multi-party control sits in the signing policy behind those addresses, so no single party can move capital or set the price alone.

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MPC Key Management

Utila operates on a Multi-Party Computation (MPC) architecture. No complete private key exists at any single point, and signing is performed collaboratively without key material ever being assembled, removing the single point of key compromise.

Approval authority sits above the cryptography. The signing policy distributes it across the operating parties, so a compromise of any one party's infrastructure is insufficient to move assets.

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Account Architecture

Syntetika segregates capital across dedicated accounts, each with a defined purpose and its own approved transfer paths.

Movements follow a fixed transfer matrix, whitelisted destinations only, monitored by Syntetika's Operations function. Any non-routine movement of capital is approved under the joint approval policy before it executes.

Once subscribed, capital leaves Syntetika's account structure and is held fund-side by Hilbert.

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Liquidity Buffer

A dedicated liquidity reserve, held apart from deployed capital and reserved for redemptions and emergency liquidation, is planned and currently under design. It is not yet in operation. Today the protocol maintains only a small operational holdback for fees. This section will be updated when the reserve is live.