# 0var

> 0var measures on-chain yield and brings it into regulated products. It works between traditional finance and on-chain markets for people who answer for other people's money: it finds out where on-chain yield comes from, measures the risk and builds what a regulated product needs before it can use it. 0var Srl is based in Milan, Italy.

Bonds have a benchmark; on-chain yield doesn't. 0var is building one: metrics read straight from on-chain data, one method to calculate yield and compare it across protocols, and frameworks that fit DeFi returns into an institutional portfolio. The 2025 backtest, a simulated portfolio valued every day at historical market prices, covers 365 days, 28 instruments compared with one method, and 34 fixed-rate positions held to maturity and rolled.

0var operates as a technology and research provider and, for 0coupon Bond, as strategy advisor to the issuer. It does not provide investment advice to investors, asset management or personalised portfolio recommendations. Products based on 0var models are structured, issued and distributed by authorised partners.

## 0coupon Bond

- 0coupon Bond is 0var's index strategy. It invests in tokenized real-world assets and on-chain income.
- Written rules decide what goes into the index: short duration, high quality.
- Regulated partners issue and distribute it, and 0var advises the issuer on the strategy.
- Target annual yield: 10–12%. Indicative, not guaranteed. Capital is at risk.
- Minimum investment: €125K. Professional investors only.
- How to start: book a call (structure, costs and partners), check the numbers in the 2025 backtest, then invest through a regulated partner, who issues the product.

## What 0var does

- Research: how lending markets and tokenized bonds produce yield, and why it moves from one protocol to the next when rates or liquidity change.
- Models: yield split into base rate, protocol premium and duration spread; on-chain Sharpe and Martin ratios; indices that follow the on-chain yield curve.
- Infrastructure: APIs and smart-contract integrations that track NAV and yield and feed reporting and audit; white-label modules for ETPs, funds and tokenized portfolios.
- Partnerships: authorised partners structure, issue and list every product built on 0var models; institutional custodians hold the assets and independent firms verify them.

## Where the yield comes from

- Tokenized T-bills (real-world assets): short-term government and corporate debt, on-chain.
- Stablecoins: dollars that pay a yield, backed by extra collateral or by hedged positions.
- Principal tokens (fixed rate): a rate fixed until maturity, alongside funding and carry markets.

Each source is measured with on-chain data that anyone can check.

## Partners and governance

- Issuers and fund platforms structure and list the products, under the rules that apply to them.
- Custodians keep the assets segregated, at institutional grade.
- Auditors and law firms check the numbers and keep the setup compliant over time.
- Every model and yield figure 0var publishes can be verified on-chain.

## Links

- [0var home](https://www.0var.xyz/): the full page in English
- [0coupon Bond](https://www.0var.xyz/#0coupon-bond): the index strategy, its target yield and minimum investment
- [What we do](https://www.0var.xyz/#what): research, models, infrastructure and partnerships
- [Approach](https://www.0var.xyz/#approach): the three sources of on-chain yield
- [Partners and governance](https://www.0var.xyz/#governance): who issues, holds and checks the products
- [Backtest 2025](https://www.0var.xyz/backtest?lang=en): the 0coupon Bond backtest report for 2025
- [Contact](mailto:info@0var.xyz): info@0var.xyz, 0var Srl, Piazza del Liberty 8, 20121 Milan, Italy

## Notice

This website is marketing information, not an offer, a solicitation or investment advice. 0coupon Bond is reserved for professional investors.