Kerne

Kerne is a delta-neutral yield protocol on Base. The vault (ERC-4626) holds WETH collateral and runs a delta-neutral basis trade: stETH on the long leg, Hyperliquid perp short on the short leg.

## Overview Kerne is a delta-neutral yield protocol operating on the Base blockchain. It functions as an ERC-4626 compliant vault that accepts WETH as collateral and executes a structured basis trading strategy to generate yield. The protocol pairs a long position in stETH against a short position in Hyperliquid perpetual futures, creating a market-neutral setup designed to capture the basis spread between spot and derivatives markets without directional exposure to ETH price movements. The protocol exists to address a specific gap in the crypto yield infrastructure: the ability for WETH holde