Whiteheart Finance Memo

Jacob (Jake) Severn
4 min readApr 14, 2021

What: Whiteheart Finance is a decentralized protocol to enable a user to protect their investment in WBTC or ETH over a 14–28 day time period. This happens using a smart-contract paired with a liquidity pool to provide the difference between say an initial amount of $ETH worth $10,000 and the difference if it goes down to $5000. The differential ($5,000)would be payed out to the user + the diminished $ETH, retaining their initial USD value in $ETH (So payout is $5000 USDC, $5000 $ETH after the drop because the initial value of $ETH was $10,000). There is a price for this protection, 9.9% for $WHETH and 6.9% for $WHBTC.

Why: To provide tools which enable limited downside in USD terms if used correctly.


$WHITE staking. In return the fee described above will go to staked holders.

$USDC Fees Distribution

● 30% distributed among the $sWHITE (staked $WHITE aka $sWHITE) holders

● 30% distributed among the $USDC hedging pool liquidity providers

● 20% distributed among the $HEGIC staking lots holders

● 20% distributed among the Hegic pools liquidity providers

Token Model

Circulating supply: 8,888

Max supply: 8,888

Circulating Market Cap: $24,720,375

Fully Diluted Value: $24,720,375

Token Distribution:

Token fundraising was completed by a private keybase group of 233 people organized by Molly Wintermute. The initial price of WHITE after the completion of the IBCO was $1,077. 88 WHITE was distributed to private group members who participated in IBCO and held through mainnet launch.

Audit and Source Code: https://github.com/peckshield/publications/blob/master/audit_reports/PeckShield-Audit-Report-Whiteheart-v1.0.pdf

Team (pseudonymous):



● The service is useful for folks who trade $ETH and $WBTC.

● No insane vesting schedules

● Team is active in discord and twitter. Smart folks are involved in figuring out how to build an ecosystem around…

Jacob (Jake) Severn

Product Manager. writer. Artist. Poetry collection ‘Poemas’ now available for purchase on amazon. site: https://jacobsevern.com