BNB+ OTF is an on-chain trading fund launched by Lorenzo aimed at the BNB ecosystem: users subscribe with BNB and receive token certificates representing fund shares and profit rights; under the compliant custody of Hash Global + professional execution framework, it uniformly conducts diversified strategies, all earnings are included in NAV, and share prices reflect performance, avoiding the complexity brought by inflationary token issuance or frequent re-staking. This OTF model has been validated and educated in the market through Lorenzo's sUSD1+ OTF product.

From a timing perspective, after experiencing several rounds dominated by leverage and inflationary distribution, especially after the market flash crash on October 11, a large amount of capital has flowed back to the “auditable, redeemable, and combinable” real yield theme. BNB+ OTF uses NAV as the yield standard, embedding all earnings generated by strategies into prices, keeping the number of shares unchanged, which reduces the complexity of re-staking and compounding paths, and also allows for smoother information disclosure, risk penetration, and compliance audits.

Lorenzo's core logic in choosing BNB lies in the comprehensive balance of asset volume and market depth, organic opportunities, and settlement efficiency. On one hand, BNB is a top asset with sufficient spot and derivatives depth, capable of accommodating large-scale subscriptions and high-frequency rebalancing, reducing price impact and slippage costs; on the other hand, the transaction fees and confirmation speed of the BNB Chain make the operational costs of portfolio management lower and settlements smoother, facilitating agile switches and dynamic hedging between multiple strategies. More importantly, the organic "redeemable yield" in the BNB ecosystem is more concentrated, including staking for validator nodes and various Launchpool ecological incentive events, making it easier to achieve robust yield stacking. Considering the user base and application coverage of BNB, participation and educational costs are also clearer, thus forming a positive funding feedback loop more easily within compliance boundaries.

From the perspective of yield, the revenue of BNB+ OTF is based on NAV, and the yield will be reflected in the price upon distribution, with the user's held shares remaining unchanged while the value per share rises along with the net asset value. Its earnings mainly come from four complementary dimensions:

The first layer is "base yield," which relies on the stable income generated by BNB PoSA staking as the underlying interest, providing sustainable cash flow;

The second layer is "event yield," where the fund participates in Launchpool, Megadrop, and ecological incentive events within a strict quota and risk control framework, obtaining excess returns through event timing on Binance;

The third layer is "execution enhancement," relying on Lorenzo's centralized scheduling and execution pipeline to implement quota pre-allocation, parallel participation, and idle fund management, while compressing the open periods of BNB funds, enhancing capital utilization and yield under unit risk;

The fourth layer is "repurchase overflow," benefiting from Binance's repurchase and destruction of BNB and other supply contraction mechanisms that bring long-term Beta, which allows the same net cash flow to gain structural upward elasticity in price dimensions, thus providing long-term support to the BNB+ OTF NAV curve.

In terms of the flow of funds, the user participation path is: deposit BNB → mint BNB+ → compliant custody → stake / Launchpool / ecological incentives → earnings credited to NAV → BNB+ price rises with NAV → bi-weekly disclosure, redeemed on schedule.

In addition, users can participate in Lorenzo's sUSD1+ product by staking USDT, USDC, or USD1, obtaining sUSD1+ tokens representing profit rights, and experience a stable, diversified, and real yield structure.

Lorenzo's future vision is to build an on-chain investment bank, focusing on providing standardized issuance, tokenized management, and fundraising services for yield-bearing assets such as CeFi, RWA, and DeFi, bridging on-chain large-scale funds and institutional-level wealth management products.

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