DH Exhibit A  —  The developer

DivyeshHingu

I build payment rails. financial models. valuation cases. risk engines. things that settle.

Founder and sole developer of Sovrn — non-custodial crypto payment infrastructure. Studying Advanced Finance and Economics (Honours) at The University of Queensland. I work where the maths of finance meets the engineering that moves money.

Explore the work ↓ Get in touch →
0/7
UQ GPA
0
Guaranteed-entry ATAR · BAFE
0+
Assets Sovrn settles
0%
Flat fee I set
0%+
Financial Modelling result
LIVE RENDER · BLACK–SCHOLES CALL SURFACE
C(S, T) · K = 100 · σ = 25% · r = 4%
Drawn in real time from the formula
Exhibit B — Thesis

Finance taught me to *check the numbers twice.* Engineering taught me to *make the numbers check themselves.* Sovrn is where the two meet: a payment system built by someone who reads *balance sheets* and *block explorers* with the same attention.

Detail-dense workSustained concentrationNumbers checked twice
Exhibit C — The build · 2025 → present

One developer.
The entire stack.

I designed, built and operate Sovrn end to end — a non-custodial gateway that settles merchant payments directly on-chain across Bitcoin, Ethereum, Solana and 250+ other assets. Every line reviewed and tested before it ships.

PythonFlaskAWSREST APIHMAC-SHA256 webhooksBIP-32 key derivationBitcoinEthereumSolanaNginxSQLiteAI-assisted, human-verified
01MERCHANT

Extended public key

The merchant shares an xpub — never a private key.

02DERIVE

BIP-32 child address

A unique receive address for every single payment.

03PAY

Customer pays on-chain

BTC, ETH, SOL and 250+ more, straight to that address.

04WATCH

Payment watcher

Confirms the transaction on the chain itself.

05SIGN

HMAC-signed webhook

A tamper-proof callback to the merchant's server.

06SETTLE

Merchant is paid

Non-custodial by design: nothing to freeze, nothing to seize.

sovrn — payment lifecycle

The unit economics
are mine too.

I set the commercial model: a flat 0.5% — roughly half the 1% that major custodial processors list. Drag to see what that means for a merchant.

Sovrn · 0.5%$250
Typical custodial · 1%$500
$3,000
Kept by the merchant, per year
Exhibit D — Case files

The analysis
behind the analyst.

Four pieces of financial work — each with a live, working model you can touch. Nothing here is a screenshot: the charts are computed in your browser.

Case 01ACCT2114Team of five2026

Whistl — five-year financial projections

A five-year, three-scenario Excel model for a live AI fintech founded through the UQ iLabs program, projecting FY2027 → FY2031.

  • Built the revenue schedule, expense schedule and KPI dashboard, with Bear, Base and Bull scenarios run from a single assumptions toggle.
  • Authored and defended every growth, churn, pricing, cost, tax and capital input — including 25% corporate tax and the ATO's 43.5% refundable R&D offset.
  • Reviewed the model end to end for consistency across all three financial statements.
  • Concluded from ASX and international comparables that the founder's base case overstated growth — the Bear case became the report's central recommendation.
Base-case revenue · FY2027 → FY2031● Real model output
$239,595
$0
0.0×
growth in 4 years
FY2027FY2031
BEARBASEBULL
One assumptions toggle drives all three scenarios.Recommended: Bear case
Income statement
Balance sheet
Cash flow
Case 02FINM3412ASX: PWHIn progress

PWR Holdings — equity research & valuation

Initiating coverage of an ASX-listed small/mid-cap for a simulated $500 million Australian equity fund: buy, accumulate, hold, reduce or sell?

  • Building the Excel valuation: normalised historicals, evidenced forecasts, forecast income statement, balance sheet and free cash flow.
  • WACC build and intrinsic value by DCF, cross-checked against relative multiples.
  • Sensitivity and scenario analysis across WACC, terminal growth, revenue growth and margins — with liquidity measures supporting a 1–5% position size.
  • Eight-page investment report and pitch deck for the investment committee: every assumption evidenced or flagged as analyst judgement.
DCF sensitivity · value vs base case◆ Illustrative mechanics — not PWR figures
↓ WACCTerminal growth →
Hover a cell — Gordon growth terminal value, relative to the 9.0% / 2.5% base.
BUYACCUM.HOLDREDUCESELL
Fund position range1% – 5%
0%1%2%3%4%5%6%
Case 03FINM3422Result 90%+Python

Derivatives pricing engine

Part of a prototype trading-desk platform built in object-oriented Python and delivered as a documented Jupyter notebook, managed through Git branches and pull requests.

  • A base Derivative class with EuropeanCall and EuropeanPut subclasses, priced by Black–Scholes.
  • Discounted off the platform's own yield curve module.
  • Portfolio delta and Greeks across a mixed equity and options book.
  • An AI_USAGE record documenting which AI tools were used, for what, and how every piece of generated code was validated.
Black–Scholes · live● Real formula · drag the inputs
Call
—
Put
—
Case 04FINM3422Risk layerPython

Yield curves & Value-at-Risk

The rest of the risk platform: the curve every price is discounted off, and the numbers a desk looks at before it goes home.

  • Ingested RBA government bond yields and built the curve by bootstrapping and interpolation, exposing discount-factor and zero-rate lookups.
  • Scenario revaluation under underlying and interest-rate shifts.
  • Value-at-Risk on both a historical and a parametric basis.
  • Architecture and outputs presented to the cohort.
Monte Carlo · 10,000 daily P&L draws · $1M book
VaR 95% · empirical
—
VaR 95% · parametric
—
VaR 99% · empirical
—
Yield curve · interpolated◆ Illustrative shape
Auto
Exhibit E — Why BAFE

The only degree of its kind
in Australia.

The Bachelor of Advanced Finance and Economics (Honours) at The University of Queensland is cohort-based and industry-engaged: partner-firm projects, Bloomberg Lab access, applied financial modelling and an integrated honours research thesis.

Guaranteed entry
0
ATAR required for guaranteed entry to the program.
2026 intake
0
Median adjusted entry score of the 2026 cohort.
My GPA
0
Out of 7.0 — held alongside building and running Sovrn.
Program
1of 1
The only program of its kind in the country.
2022
Alan Bartlett Consulting · RTO 5800

Laboratory precision, formally trained

Certificate III in Laboratory Skills and Certificate II in Sampling and Measurement — precise measurement, sampling protocol and accurate data recording under procedure. Also began as a Youth Leader at BAPS Temple, Brisbane.

2024
QASMT · IB Diploma

Queensland Academy for Science, Mathematics and Technology

Brisbane's top school for academic results in the 2025 Better Education rankings and its most selective. Full IB Diploma across six subject groups, three at Higher Level, plus a 4,000-word Extended Essay, Theory of Knowledge and CAS.

2025
UQ · BAFE (Hons) · Sovrn founded

Two launches in one year

Began the Bachelor of Advanced Finance and Economics (Honours) — and started building Sovrn, the payment gateway this site runs on.

2026
Modelling · valuation · risk

The year of the models

Finished FINM3422 Financial Modelling above 90% with a Python risk and derivatives platform; built the Whistl five-year projections; now running a full equity valuation of PWR Holdings for a simulated $500M fund.

2028
Expected

Honours graduation

Completing the program with an integrated honours research thesis.

Exhibit F — Coursework

Selected courses.

Hover or tap a card to see the learning outcomes.

ACCT1111
Σ

Principles of Financial Accounting

2025
↻ Flip
ACCT1111 · OUTCOMES
  • Record transactions under International and Australian Accounting Standards
  • Prepare, analyse and interpret financial reports
  • Explain accounting concepts, principles and methods
  • The regulatory framework behind standards, including ESG links to reporting
  • Corporate governance and ethics
ACCT2114
∆

Applied Management Accounting and Control

Semester 1 · 2026
↻ Flip
ACCT2114 · OUTCOMES
  • Product, service, segment and customer profitability
  • Break-even analysis and transfer pricing
  • Master budget and pro-forma statements for a real startup
  • Balanced scorecard for strategy implementation
  • Performance measurement, reward and decision-making
90%+
FINM3422
∫

Financial Modelling

Semester 1 · 2026
↻ Flip
FINM3422 · OUTCOMES
  • Translate raw financial data into useful information
  • Design, audit and validate robust financial models
  • Corporate and project valuation, sensitivity and scenario analysis
  • Optimisation, Monte Carlo simulation and Value-at-Risk
  • Turnaround stream with Vantage Performance Group
  • Python, GitHub, VSCode and Excel
FINM3412
β

Advanced Investments and Portfolio Management

Semester 2 · 2026 · current
↻ Flip
FINM3412 · OUTCOMES
  • Analyse financial data to assess an investment or strategy, including valuation
  • Authentic investment analysis under real industry constraints
  • Communicate complex ideas persuasively, verbally and in writing
  • Portfolio construction and performance measurement
Exhibit G — Toolkit

Fluent in both
ledgers and code.

Accounting 01

Financial statements under AASB and IAS · pro-forma and forecast statements · master budgets · accrual reporting · break-even and transfer pricing · balanced scorecard · corporate tax and R&D incentives · profitability analysis

Financial modelling 02

Three-statement and pro-forma models · driver-based schedules · multi-scenario modelling · DCF and relative valuation · WACC · sensitivity analysis · model review and validation · KPI dashboards

Quantitative 03

Black–Scholes · yield curve bootstrapping · historical and parametric VaR · portfolio delta and Greeks · Monte Carlo · portfolio construction and performance

Software & research 04

Advanced Excel · Xero · Python · Git and GitHub · VSCode · AWS · primary-source research across ASX filings, RBA, ACCC and AIHW · structured, referenced reporting

Exhibit H — Beyond the desk

Youth Leader,
BAPS Temple, Brisbane

I plan and run community and youth events end to end — scheduling, logistics, volunteer coordination and day-of delivery — building the schedules, budgets and planning documents behind them. I've held the role continuously since 2022, including alongside full-time university study.

PlanSchedules, budgets & documents
CoordinateVolunteers & logistics
DeliverDay-of event execution
SustainContinuous since March 2022
0+
Years leading,
alongside study and Sovrn
Exhibit I — Contact

Let's talk.

Questions about Sovrn, an integration, or the work on this page — email me directly. You'll hear back from the person who built it.

Email me → Explore Sovrn →

hingudivyesh1@gmail.com