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PennyWorks
What it is
PennyWorks provides independent valuation and accounting for funds holding digital assets. It produces NAV, financial statements, and tax lots from transaction-level records. Double-entry books combine onchain, exchange, and OTC activity, with figures traceable from reports through journal entries and transactions, then reconciled against onchain snapshots. NAV reporting covers period flows, income, realised and unrealised gains, plus management, administration, and incentive fees measured against a high-water mark adjusted for capital flows. Reports can be delivered through a dashboard, API, file, or onchain, as often as daily after human review. Portfolio analytics show holdings, net-worth drivers, leverage, returns, liquidation proximity, and income by protocol, chain, or asset. Its DeFi Markets research compares lending-market liquidity, utilisation, and rates and models looped yields at selected leverage; PennyWorks describes it as neither advice nor a forecast. An RWA diligence project presents answers with sources and leaves gaps visible.
For and against
For
- Produces NAV and financial statements
- Tracks digital-asset tax lots
- Traceable double-entry accounting
- Daily delivery may be available
- Includes portfolio risk analytics
Against
- Pricing is on request
- Access requires customer data connections
- Market models are not advice or forecasts
- RWA diligence is early access
The verdict
PennyWorks focuses on auditable digital-asset fund accounting and valuation, with analytics and research alongside NAV reporting. Its delivery options and transaction-level traceability suit operators needing detailed records.
Who it suits
PennyWorks is described for DeFi investors and operators, with NAV services aimed at funds holding digital assets. Customers provide read-only wallet, exchange, and offchain activity access.
On the record
- Bookkeeping
- It builds double-entry books from onchain, exchange and OTC activity, with figures traceable from reports to journal entries and transactions.pennyworks.com · read 4 Oct 2026
- Company
- The privacy policy identifies HybridFi Inc. as the company behind PennyWorks.com.pennyworks.com · read 8 Oct 2026
- Core product
- PennyWorks provides independent, audit-ready NAV, financial statements and tax lots for funds holding digital assets.pennyworks.com · read 4 Oct 2026
- Data access
- PennyWorks says customers share read-only access to wallets, exchange API keys and offchain activity sources.pennyworks.com · read 4 Oct 2026
- Delivery
- Reports are available through a dashboard, API, files, or onchain publication.pennyworks.com · read 8 Oct 2026
- Fee calculations
- The NAV product calculates management, administration, and incentive fees, with incentive fees measured against a high-water mark adjusted for capital flows.pennyworks.com · read 8 Oct 2026
- Market research
- The DeFi Markets view compares external lending-market liquidity, utilisation, borrow and deposit rates, and modeled looped yields; PennyWorks describes it as research, not advice or a forecast.pennyworks.com · read 8 Oct 2026
- NAV and fees
- Its NAV reports period flows, income, realised and unrealised gains, and management, administration and incentive fees against a high-water mark.pennyworks.com · read 4 Oct 2026
- NAV frequency
- NAV can be delivered as often as daily, after human review.pennyworks.com · read 8 Oct 2026
- Portfolio analytics
- Portfolio Analytics attributes net-worth changes to external flows, income, realised gains, and unrealised value changes.pennyworks.com · read 8 Oct 2026
- Protocol coverage
- PennyWorks says it supports a wide range of protocols, typically adds new chains or protocols in days, and can build custom parsers for unsupported positions.pennyworks.com · read 8 Oct 2026
- Read-only access
- Customers share wallet addresses and read-only exchange API keys; PennyWorks says its access to activity is read-only.pennyworks.com · read 8 Oct 2026
- Reconciliation
- Its books are built from onchain, exchange, and OTC activity using double-entry journal entries, then reconciled against onchain snapshots.pennyworks.com · read 8 Oct 2026
- Research limitation
- The DeFi Markets matrix models current market rates at a chosen leverage and is described as neither a forecast nor advice.pennyworks.com · read 4 Oct 2026
- Risk analytics
- Risk and performance views show leverage, returns, liquidation proximity, and income by protocol, chain, or asset.pennyworks.com · read 8 Oct 2026
- RWA access
- The RWA due-diligence page says waitlist members get free access to the full database at launch.pennyworks.com · read 4 Oct 2026
- RWA diligence
- Its RWA due-diligence project is described as early access, with free access to the full database at launch for waitlist members; each answer is shown with its source and unanswered gaps remain visible.pennyworks.com · read 8 Oct 2026
- RWA due diligence
- The RWA due-diligence product researches projects using public records and issuer-provided materials, with each answer beside its source and gaps left visible.pennyworks.com · read 4 Oct 2026
