# SERENITY RESEARCH ALPHA FUND: BLIZZARD This documentation is a guide to understand how our Alpha Fund (Project Blizzard) works, including its investment thesis, methodology and risk assessment process, etc. Project Blizzard is second public project that uses strategies from the Exotic category of our weekly report, or strategies similar to those (not included as they might be smaller or repetitive). Project Blizzard: * invests in high-yield opportunities * Providing liquidity in the initial days of high-yield pools * Leveraged stablecoin lending (looping) * Funding rate arbitrage * Hedged Perp LP * Stablecoin cross-chain arbitrage * has a target APY of 30% * invests in researched projects/stablecoins by Serenity Research (max exposure up to Tier 3) * invests in large and battle-tested DeFi protocols * invests in Ethereum or its major EVMs * does not seek diversification to mitigate hacking risks * is a close-end fund and under confidentiality agreement. However, some of the investments results and analysis post-investment will be shared via our Twitter account * reports its AUM and unit price on chain and is updated bi-weekly, only to LPs * has no tokens associated with the project **Information contained relating to Project Blizzard is only for Serenity Research existing and potential advisory clients, i.e. clients who engage us for portfolio advisory work or purchase dedicated research reports from us. The fund is set-up to demonstrate the operational procedures we typically set-up in place for an advisory client.** --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://serenity-research.gitbook.io/serenity-research/blizzard.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.