Stream Protocol
About
Stream Protocol is a tokenized market-neutral fund that operates yield-bearing vaults for assets such as USDC, EUR, ETH, and BTC. Users deposit underlying tokens to receive omnichain wrapped tokens (via LayerZero) and vault share tokens that represent their stake in a diversified portfolio of delta-neutral strategies managed by a protocol multisig.
Where Does Yield Come From?
Stream Protocol lets users deposit assets (like USDC, EUR, ETH, and BTC) into vaults. A vault owner — a multisig wallet whose address is public — decides how to put those deposits to work across a range of market-neutral strategies. These strategies include on-chain yield farming, lending arbitrage, incentive farming, high-frequency market making (dynamically hedged), hedged top-of-book liquidity provision, TVL deals, and statistical arbitrage.
The vaults connect with outside protocols to capture yield — Shadow, Curve, and SwapX for decentralized exchanges; Euler, Enclabs, Silo, and Stability for lending; and Royco, Snake, and others for additional primitives.
How yield flows to you, each round:
- A vault keeper calls a function called
rollToNextRound()on the StreamVault contract, usually once a day. - The keeper provides a yield amount (which can be positive or negative) for that round. The contract then mints share tokens for new depositors and either mints or burns wrapped Stream tokens through the StableWrapper to reflect the net yield.
- Every share holder receives yield proportionally — your payout matches your share of the vault.
Two-layer design:
- The StableWrapper is a 1:1 wrapper for the underlying asset. It supports delayed withdrawals and is omnichain (uses LayerZero's OFT standard so it can move across blockchains).
- The StreamVault is where users stake those wrapped tokens to receive non-rebasing share tokens — the number of shares stays fixed, and yield accrues in the value of each share.
The protocol also plans a Droplets rewards program that tracks deposits across vaults. Fee structures and emissions details are not specified in official sources beyond the vault owner's role in managing strategies.
Audits
| Audit / Date | Findings | Verdict |
|---|---|---|
Code4rena (Zenith)06-02-2025 - 10-02-2025 |
| The Code4rena Zenith audit identified one critical and three medium severity issues, all of which were resolved or acknowledged by the Stream Protocol team, with the critical bridging fund-loss bug fixed and key medium risks closed before publication; residual low and informational items were mostly acknowledged for operational flexibility, leaving no unaddressed high-severity vulnerabilities in the final report. |
Legal
Legal form
Stream Trading Company (exact legal form — e.g. Ltd, Inc, LLC — not explicitly stated in the Terms of Service; referred to as "Stream Trading Company" and "Stream Trading Co." in the copyright notice)
Registration jurisdiction
British Virgin Islands (Terms of Service specify governing law and exclusive jurisdiction as the laws of the British Virgin Islands; no explicit statement of incorporation found)
Status and notes
The operator is disclosed as "Stream Trading Company" (also "Stream Trading Co." in the copyright notice). Terms of Service are published at /terms-of-service on app.streamprotocol.money and reference "Stream Trading Company". The Privacy Policy page at /privacy-policy exists but renders only the app shell with no visible content. Imprint (/imprint) and legal (/legal) pages similarly show only the empty app framework. No registered address, registration number, or explicit incorporation details are published on any accessible official source. The website footer contains no legal/regulatory information.