Yield without directional risk
Mint kUSD 1:1 with USDC today.
Stake into skUSD for hedged, delta-neutral yield.
Works inside Safe. Add app.kerne.fi as a custom Safe App on Base and mint from the multisig directly.
The number
A forward model of the deployed book, not yield already paid: the hedge is sized one for one against on-chain spot, so the carry is multiplied by L/(L+1), which is below one. The separate 3x target at scale was withdrawn on 28 July 2026.
The ceiling
Our published feasibility band puts the sustainable through-cycle rate near 8 to 9.4 percent, on a levered design basis that does not bound the deployed figure.
Realized
0.00% is realized yield, a different thing: on-chain growth of the skUSD share price, annualized over 30 days. Distributions to date are one small strategist test transfer, so it sits near zero and decays until more land.
Audit posture
First external audit complete: Hexens, fieldwork from 13 July 2026, final report 31 July 2026, ten findings, none critical, eight fixed and two acknowledged. That is five contracts at one commit, not a guarantee of safety, and the deployed vault runs earlier bytecode than the reviewed commit. Bug bounty live, proof of reserves signed hourly.
How It Works
Mint kUSD with USDC, then stake into skUSD for hedged, delta-neutral yield.
Step 1
Sign in with wallet
Connect any wallet in the top right-hand corner.
Step 2
Mint kUSD
Mint kUSD with USDC at 1:1 through the Peg Stability Module.
Step 3
Stake for skUSD
Stake kUSD into skUSD, the staked form of kUSD that captures Kerne's delta-neutral yield, distributed on-chain as the strategist realizes it.