Question 1

Is Cold Process a good Hyperliquid vault to copy?

Accepted Answer

Blacklight's verdict is 'Allocate-worthy'. Risk score 21/100, max drawdown 10%, Sharpe 3.1. It does NOT clear our bar for being worth copying — see the risk and operator figures before depositing.

Question 2

What is Cold Process's return and TVL?

Accepted Answer

As of 2026-10-11: 57% 30-day APR, $230k total value locked.

Question 3

How risky is Cold Process?

Accepted Answer

Risk score 21/100. Worst historical drawdown 10%. Sharpe (return per unit of swing) 3.1.

Question 4

Who runs Cold Process?

Accepted Answer

Operator 0xfca598f25c38f1836daf58104e4255d786b1c53d, keeping 5.0% of the vault in their own money and taking 10% commission on profits.

Vault address	0xc3b1bf1f1e6fb8161ef4dc2f34e2c56f70b94b11
Operator	0xfca598f25c38f1836daf58104e4255d786b1c53d

Verdict	Allocate-worthy
30-day APR	57%
TVL	$230k
Risk score	21/100
Max drawdown	10%
Sharpe	3.1
Operator own money	5.0%
Commission	10%
Depositors	100