RESOLV PROOF OF RESERVES

BUILT BY APOSTRO


GENERAL METRICS

  • TVL: $272.60M
  • Market delta [1]: -0.09%
  • USR TVL: $175.71M
  • RLP TVL: $96.88M
  • RLP/USR ratio: 55.14%
  • USR over collateralization: 154.94%
  • Backing assets value: $272.26M
  • Long/Short ETH exposures [2]: $55.30M/$55.40M
  • Long/Short BTC exposures [2]: $42.76M/$42.90M
  • Strategy net exposure [3]: -$232.21K [4]

COLLATERAL POOL BY ASSET

USDT0................................................................................29.3%$79.83M
weETH................................................................................27.5%$74.91M
LBTC................................................................................23.6%$64.28M
USCC................................................................................23.2%$63.20M
USDC................................................................................9.6%$26.20M
wstETH................................................................................7.6%$20.64M
fUSDT................................................................................5.3%$14.43M
BTC................................................................................4.9%$13.41M
ETH................................................................................0.5%$1.37M
USDT................................................................................0.2%$492.70K
fUSDC................................................................................0.0%$80.94K
STETH................................................................................0.0%$60.82K
pxETH (pending unstake)................................................................................0.0%$2.46K
apxETH................................................................................0.0%$244.76
stETH................................................................................0.0%$0.04
GHO................................................................................-3.7%-$10.04M
WBTC................................................................................-12.8%-$34.94M
WETH................................................................................-15.3%-$41.68M
Total................................................................................100.0%$272.26M

BACKING ASSETS BY LOCATION

AAVE V3................................................................................46.3%$126.04M
Fluid................................................................................31.7%$86.43M
Hyperliquid................................................................................9.0%$24.42M
USDT Cluster................................................................................5.3%$14.43M
Binance................................................................................5.3%$14.30M
Bybit................................................................................2.1%$5.85M
Deribit................................................................................0.2%$645.59K
USDC Cluster................................................................................0.0%$94.34K
Treasury................................................................................0.0%$45.00K
ETH Cluster................................................................................0.0%$39.27
BTC Cluster................................................................................0.0%$29.31
Total................................................................................100.0%$272.26M

HEDGING [5]Margin [6]ShareSize
Hyperliquid (UM) BTC-USD Perp................................................................................46.4%37.6%$37.00M
Binance (CM) ETHUSD_PERP................................................................................37.5%22.9%$22.53M
Hyperliquid (UM) ETH-USD Perp................................................................................41.3%17.8%$17.51M
Bybit (CM) ETHUSD................................................................................37.9%15.7%$15.43M
Binance (CM) BTCUSD_PERP................................................................................33.9%4.4%$4.34M
Deribit (CM) BTC-PERPETUAL................................................................................36.5%1.6%$1.60M
Binance (CM) Empty short................................................................................0.0%0.0%$0.00
Deribit (CM) Empty short................................................................................0.0%0.0%$0.00
Total................................................................................100.0%$98.41M


NOTES:


[1] The market delta ratio represents a strategy's net directional exposure to asset price movements, expressed as a percentage of the total value locked (TVL). It is calculated as (the value of long positions - the notional value of short positions) / TVL. A positive ratio indicates net long exposure, while a negative ratio indicates net short exposure.


[2] Long ETH exposure measures the total value of ETH-correlated assets in a strategy's portfolio, including both direct ETH holdings and ETH LSTs.


[3] A strategy's net exposure represents its net directional position or risk in ETH. This is calculated as the difference between the value of long positions (including ETH and ETH LSTs) and the notional value of short futures positions.


[4] Ideally, a strategy's net exposure should be around $0. However, it always deviates due to natural causes, most frequently because long and short positions do not have exactly the same value. A 0.1% difference (or less) is normal.


Larger deviations (up to 3%) can occur for various reasons, usually associated with portfolio rebalances. A negative value can be due to unstaking delays - wBETH unstaking is not fully supported and may take several hours or, in rare cases, up to 5 days. Therefore, a negative net exposure of 1-3% can be considered normal.


[5] This section provides an overview of the protocol's current short positions, which are designed to maintain delta neutrality.


[6] Margin is the amount of assets deposited as collateral to open and maintain a leveraged trading position. The margin ratio, calculated as the collateral value divided by the position's notional value, indicates the position's safety buffer. If this ratio falls below the required maintenance level, the position risks liquidation.