Spiko Amundi Overnight Swap Fund

SAFO, the Spiko Amundi Overnight Swap Fund, is a tokenized UCITS fund created by Spiko in partnership with Amundi, Europe's largest asset manager, that brings a regulated institutional money-market-style fund onto public blockchains. Its USD share class allows participation from as little as 1 USD, removing the high minimum thresholds that traditionally limited such vehicles to large institutional investors. The fund claims to address the challenge of accessing stable, short-duration yield instruments in a form that is directly usable within decentralized finance ecosystems.

The fund generates returns through fully collateralized total return swaps with top-tier banks, beginning with BNP Paribas, targeting yields above the Effective Federal Funds Rate benchmark while preserving overnight liquidity. Each SAFO token represents a share in this UCITS fund, and the authoritative shareholder register is maintained on Ethereum, with the token also deployable across Polygon PoS, Arbitrum One, Starknet, Base, Etherlink, and Stellar. On-chain net asset value data is delivered through Chainlink oracle feeds, CACEIS serves as depositary bank, and PwC acts as auditor, while the fund operates under supervision of the French financial regulator, the AMF.

The data provided does not include a fee revenue stream, fee rate, or protocol earnings figure for SAFO, so no fee-based measures can be calculated or reported here. As a tokenized fund, costs and management fees would typically be embedded in the fund's net asset value mechanics and governed by its fund documentation rather than expressed as on-chain protocol fees. The current price of 1.019 USD against a circulating supply of 146,503,634.19 tokens gives a market capitalization of 149,239,736 USD as of the point in time reflected in the data, and the fully diluted valuation equals that market cap exactly, since the fdv-to-mcap ratio is 1.0 and 100 percent of supply is already in circulation with no maximum supply cap defined.