The Yield for the Internet of Assets
What is SYNTETIKA?
Syntetika is a protocol designed to bridge
TradFi and DeFi to arrive at structured
products with superior risk/return
profiles by capturing on-chain and off-
chain yield opportunities.
Our goal is to build infrastructure
capable of providing global, compliant,
and accessible financial products.
Thanks to our compliant privacy stack, we
are best equipped for both B2B and B2C
origination and distribution.
What does Syntetika do?
Syntetika functions as a vault Funds, Market
Makers, Custodians
Brokers, Exchanges,
Wallets, Banks, etc.
protocol connecting structured
product originators (sell-side) [ Sell Side ] [ Buy Side ]
with interested buyers (buy-side).
Initially launching as a synthetic
Bitcoin protocol that provides Origination Distribution
backbone liquidity for the Strategy
DeFi,
Lending, DEX,
"Internet of Assets".
1,2,3 Staking
Provides a solution with Bitcoin-
based yield generation at its core. Yield-bearing
synthetics
Staking
& DeFi
Market Overview
According to Binance only Julian Love, a deal Ethena, synthetic dollar
~0.8% of the bitcoin analyst at Franklin protocol reached
supply is currently being Templeton Digital Assets, remarkable $5B TVL with
used in DeFi, and this said the “Bitcoin DeFi” its novel design for
presents a large "untapped opportunity could be as synthetic yield-bearing
opportunity". [1] much as $1 trillion. [2] stablecoin. [3]
The future role of stablecoins in the U.S. debt market is significant when viewed against
the backdrop of a relative decline in foreign holdings of US debt. Over the past decade,
foreign ownership has shrunk from 34% to 23%, with strong historical players like China and
Japan also reducing their treasury positions in an absolute sense. [4]
Approximately 74% of BTC has not changed hands for most of 2024 and 45% of bitcoin hasn’t
moved in more than 3 years. [5] [6]
Syntetika:Seizing the Opportunity
Operating in a post- Building upon the two most proven Going beyond typical Bitcoin
Biden regulatory utilities in Web3: Bitcoin DeFi, by creating a
environment that appears (internet store of value) and comprehensive platform for
more crypto-friendly and DeFi (improved financial on-chain structured
adoption-focused. infrastructure). products.
Designed to capture both on-chain and off-chain yield opportunities.
Features a compliant Serves as the liquidity layer Accommodates a wide range of
privacy stack making it for brokers, wallets, products from barrier options
suitable for both B2B blockchains, and exchanges to synthetic dollars
and B2C origination and needing to satisfy diverse user originating from delta-neutral
distribution. demands for structured products. trading strategies.
ShBTC®
Synthetic Bitcoin Solution
Vault Protocol:
1
Matches sell-side
originators with buy-
side demand.
Serves brokers,
2
Liquidity Layer:
wallets, blockchains,
and exchanges. 3
Supports diverse
products from barrier
options to synthetic
dollars.
Platform for
4
creating and managing
on-chain structured
products.
neutral trading
5
Accommodates delta-
strategies and flexible
risk/return profiles.
Providing BTC
6
holders with the
ability to earn
yield with idle BTC.
ShBTC®
Tokenizing Institutional – Grade Funds
Partnership with Hilbert Group, a
Nasdaq-traded hedge fund managing
portfolios for institutional
clients like Xapo Bank.
Focus on Bitcoin-native strategies,
positioning BTC as the cornerstone of
the emerging Internet of Assets.
Bringing institutional-grade
investment strategies on-chain
through tokenization.
ShBTC®
Yield Generation Model
Syntetika’s synthetic BTC - hBTC: a crypto-native, fully-
backed, programmable reserve asse
Uses Bitcoin-native delta-neutral basis strategies
(similar to Ethena / Falkon)
Peg stability through delta hedging against protocol-
held backing assets
Composable throughout DeFi ecosystem.
ShBTC: Liquid staking token (LST) of hBT
Automatically accrues 100% of off-chain generated yiel
Yield amplification: When only 50% of hBTC is staked,
APY effectively doubles.
ShBTC®
Hilbert’s Delta – Neutral Strategy
A BTC-based program that represents a market-neutral strategy
that generates alpha by exploiting inefficiencies in Bitcoin's interest rate curve.
Use Artificial Intelligence and Machine Learning
Our models aim to generate the highest possible "Basis" from the spot and perpetual
BTC markets.
Arbitrage the BTC yield curve and apply proprietary methods
We capture additional yield by exploiting structural inefficiencies in the BTC
interest rate curve.
The strategy is always market-neutral with deep liquidity
It operates on the front end of the BTC yield curve, ensuring access to high
liquidity levels.
Historically generated ~36% annualized returns
Performance tracked from December 2023 to present.
Syntetika
Overview
> MINTING hBTC STAKING hBTC
[ MINTING Terminal ]
Deposit My transactions
Max Supply:
21M BTC 2025-04-03 14:42
Amount
0.0150001 BTC
BTC Hash
bc1qxyhx0wlhhx...0wlh
Galactica Hash
Status: Pending loader
hx0wlhbc1qxybc...1qxy
2025-04-03 14:42 Status: Pending loader
Amount BTC Hash Galactica Hash
0.0150001 BTC bc1qxyhx0wlhhx...0wlh hx0wlhbc1qxybc...1qxy
2025-04-03 14:42 Status: Received
Amount BTC Hash Galactica Hash
0.0150001 BTC bc1qxyhx0wlhhx...0wlh hx0wlhbc1qxybc...1qxy
hBTC APY: 2025-04-03 14:42 Status: Minted
23.16%
Amount BTC Hash Galactica Hash
Syntetika
Overview
MINTING hBTC > STAKING hBTC
[ Staking Terminal ]
Stake Unstake
Max Supply:
21M BTC
You Send
0.0150001 hBTC
Balance: 0.0150001 hBTC MAX
You Recieve
0.0150001 ShBTC
Balance: 0 ShBTC
[ STAKE ]
Transaction Gas: 0.008 GNET
hBTC APY: Powered by Galactica
23.16%
strategic partners
Private Pools
STO:HILB-B
Hilbert Group Galactica.com Network (PPN)
Crypto Asset Manager with $500M AUM. Co-founded by Swissborg.com, Europe's With over 20 years of combined experience in
Partner with Xapo Bank operating the permier brokerage firm and crypto software engineering and trading from UBS,
Xapo Byzantine’s Bitcoin Yield Fund.
community, Galactica.com's protocol SwissQuote Bank and Reduniq, Private Pools
Co-founder by Dr Niclas Sandström & Dr core is powered by Fully Homomorphic Network (PPN) delivers the cutting-edge
Magnus Holm, PhDs in Theoretical Encryption (FHE) and Zero Knowledge technology stack behind Syntetika’s
Physics. Proofs (ZKP) stack to arrive at very tokenisation of Hilbert Group’s funds and
CEO Barnali Biswal, former Goldman applied use-cases aimed primarily at SyntX — a state of the art DEX with multi-
Sachs Veteran MD. real users - web2 and web3 alike. asset index pools with proprietary order
flow prioritisation, enabling trading and
liquidity provision for tokenised RWAs.
TEAM
100+ years in TradFi, led by veterans from Expertise in quant trading, asset management, and
financial engineering.
Goldman Sachs, JP Morgan, Morgan Stanley,
Strong background in institutional investments, risk
and top hedge funds. management, and blockchain integration.
Team Members From
Appendix
Transforming Global Finance
The RWA Opportunity: Tokenizing the $95 trillion global stock market and other traditional assets (bonds, real
estate, commodities) on blockchain
Core Value Propositio
24/7 trading beyond traditional market hour
Fractional ownership of expensive asset
Near-instantaneous settlement vs. T+2 in traditional market
Global accessibility without geographic restriction
DeFi composability for trading, lending, and collateralizatio
Transparent and immutable transaction records
Market Validatio
87% of institutional investors have expressed interest in tokenized assets [1
Treasury Products Market Cap rising from $700M to $5.8B from Oct 2023 [2
RWA TVL in DeFi reaching over $11B [3
Private securities market projected to reach $250 billion by 2027
Tech Infrastructure & Compliance
Tokenization Process Component
Asset Acquisition and Custody: Legal entities purchasing and securing traditional securitie
Tokenization Layer: Smart contracts representing ownership right
Compliance Infrastructure: zkKYC technology ensuring regulatory adherenc
Decentralized Exchange: Marketplace for trading tokenized securitie
Liquidity Provision: Market makers ensuring efficient price discover
DeFi Integration: Connections to lending protocols and yield strategies
Smart Contract Architectur
Two-layer approach with non-fungible tokens (NFTs) representing specific asset
NFTs include valuation series and acquisition detail
Conversion to fungible ERC20 tokens for standardized tradable units
Privacy & Compliance Solution
Zero-knowledge proofs (zkKYC): Verifying users meet requirements without collecting personal dat
Fully Homomorphic Encryption (FHE): Performing computations on encrypted dat
Built on Cosmos SDK, CometBFT, and EVM compatibilit
Project EPIC integration for encrypted confidential transactions
Structured Products on Galactica
Network
Building Blocks
Core Financial Instruments
Spot: Direct asset ownership with immediate delivery
Forwards/Futures: Price-locked contracts for future settlement
Options: Call and Put rights with premium payments
Crypto-Native Mechanisms
Staking Yields: Network security rewards
Liquidity Provision: Fee earnings from DEX participation
Decentralized Borrowing & Lending: Interest rate markets
Adapted Traditional Components
Fixed Income/Bonds: Replaced with staking, lending protocols, and yield-bearing stablecoins
Swaps: Cash flow exchange agreements adaptable to DeFi
Privacy & Compliance Solution
Capital Protection: Various notes with participation, barriers, twin win, or coupon feature
Yield Enhancement: Discount certificates, reverse convertibles with different barrier and coupon structure
Participation: Tracker, bonus, outperformance, and twin win certificate
Leverage: Warrants, mini-futures, and constant leverage products
Structured Products on Galactica
Network pt.2
Detailed Product Examples
Capital Protection Note with Participation (CPNP)
Goal: Protect initial investment while offering upside potential
Target Investor: Cautious investors expecting moderate gains
Structure:
Protection Component: Yield-generating stablecoin lending or staking
Participation Component: Call options on underlying assets (e.g., ETH)
Payoff Profile: Full principal protection with capped upside participation
Barrier Reverse Convertible (BRC)
Goal: Enhanced yield with conditional downside risk
Target Investor: Investors expecting stable or slightly rising prices
Structure:
Yield Component: Premium from selling downside protection (Put options)
Barrier Mechanism: Protection voided if price breaks below threshold
Payoff Profile: High fixed coupon with potential asset conversion at loss if barrier breached
Outperformance Certificate
Goal: Leveraged participation in positive price movements
Target Investor: Strongly bullish investors willing to accept amplified risk
Structure:
Core Component: Direct spot asset holding (e.g., ETH)
Leverage Component: Call options at/near initial price
Payoff Profile: >100% participation in upside, 1:1 downside exposure
DeFi-TradFi Challenges and Solutions
Adapting Traditional Building Block
Bond replication through predictable yield stream
Addressing creditworthiness in pseudonymous environment
Creating reliable fixed income substitutes through staking and lending
Enhancing Privacy for Institutional Adoptio
FHE enabling confidential fund subscriptions and private tradin
ZK technology protecting participant identity and transaction pattern
Combined stack creating compliant "dark pools" for institutional activity
The Path Forwar
Infrastructure Development: Building robust, secure tokenization framework
Regulatory Advancement: Establishing clear guidelines for tokenized securitie
Market Education: Bridging understanding between TradFi and crypto participant
Liquidity Growth: Attracting market makers for efficient market
Protocol Expansion: Extending beyond equities to other asset classes
Market Overview
$9.95 trillion
CAGR:~87%
It’s estimated that the market value for tokenized assets $10
will be between US$ 3.5 trillion in a bear-case scenario and
US$ 10 trillion in a bull-case scenario by 2030. [7]
$8 $6.82 trillion
CAGR:~77%
For real estate it’s estimated:
Bear case: 15% of tota $6
Base case: 20% of tota
Bull case: 25% of total $3.49 trillion
CAGR:~61%
$4
For the base case, it’s assumed that tokenization will
capture about ~10% of the net assets of regulated open-end
funds worldwide, which was ~US$ 70 trillion at the end of Q2 $2
2023.
$0
For the bull case, the CAGR is comparable to the one we have
observed historically for the growth of crypto owners. The Bear Base Bull
bear case is ~0.5x the base case. 2030 Market Size
Publick Debt Trade Finance Securities Financing and Collateral Real Estate
Private Equity and Venture Carital Non-Financial Corporate and Quasi-Sovereign Debt
Market Overview pt.2
According to BCG Tokenized assets are
projected to reach $16T by 2030, yet they will
represent less than 1.8% of the global $900T
asset value [8]
Current TVL of Real World Assets sector is
$11B [9]
Although significant progress has been made in
integrating RWAs on-chain, the current market
across public blockchains like Ethereum,
Arbitrum, Avalanche, Optimism, and Base is
still largely dominated by stablecoins, which
make up 97% of the market share [10]
SYNTX:The RWA Decentralized Exchange
A Balancer-style Decentralized Exchange
Enables liquid secondary market for ShBTC and other
Real-World Assets
Designed with familiar DeFi mechanics users already
understand
SYNTX:The Vision
Democratize access to exclusive investment opportunities
like SpaceX and OpenAI
Enable global secondary liquidity for traditionally
illiquid assets like private equities
Strategic partnership with Galactica.com to offer on-chain
secondary markets for securities
Bridge traditional finance and DeFi with familiar
blockchain infrastructure
