Renesis turns raw on-chain fund data into a due-diligence ledger

Renesis, a portfolio management and accounting platform for on-chain funds, reconciles raw blockchain data into a ledger an allocator can check during due diligence, founder Thomas Pratter said in an interview with Opalesque.

Renesis maps how each smart-contract interaction affects cost basis, positions and profit and loss, and reconciles that with centralized-exchange activity into a single ledger. On a centralized exchange or broker, an API returns trade and transfer history that is enough to reconcile profit and loss and NAV predictably. On-chain, there is no equivalent query. "What you get is essentially raw on-chain data, where each individual transaction could have tens of thousands of different meanings and impacts, depending on which protocol it interacted with," Pratter said.

For allocators weighing a first-time on-chain manager, Renesis produces a due-diligence artifact: a reconciled NAV, P&L attribution and investor reporting built from the ledger the manager trades against. The question a selector can put to any such manager is coverage, since each protocol sets its own rules for what a transaction means, and a fund running lending, restaking and looping strategies touches several at once.

Renesis targets emerging managers because a fund charging two and twenty on $10 million of assets cannot fund the enterprise infrastructure vendors build for much larger funds, Pratter said.

The company has signed distribution partnerships with Kraken and Enzyme, the on-chain fund management platform, and won the Cointelegraph Startup Competition at EthCC.

Renesis works with a network of 10 to 15 allocators, mainly digital asset funds of funds and high-net-worth investors, concentrated in Southeast Asia and Europe.