RESOLV PROOF OF RESERVES

BUILT BY APOSTRO


GENERAL METRICS

  • TVL: $356.66M
  • Market delta [1]: -14.18%
  • USR TVL: $258.18M
  • RLP TVL: $98.48M
  • RLP/USR ratio: 38.15%
  • USR over collateralization: 97.17%
  • Backing assets value: $250.86M
  • Long/Short ETH exposures [2]: $24.31M/$45.85M
  • Long/Short BTC exposures [2]: $47.20M/$76.23M
  • Strategy net exposure [3]: -$50.59M [4]

COLLATERAL POOL BY ASSET

USDT0................................................................................43.4%$108.85M
USDC................................................................................23.5%$58.86M
BTC................................................................................13.2%$33.01M
wstETH................................................................................8.9%$22.41M
apxETH (pending unstake)................................................................................6.4%$15.96M
WBTC................................................................................5.7%$14.19M
USDT................................................................................4.3%$10.77M
ETH................................................................................2.6%$6.52M
fUSDT................................................................................0.3%$810.57K
fUSDC................................................................................0.0%$69.27K
stETH................................................................................0.0%$66.05K
apxETH................................................................................0.0%$2.94K
weETH................................................................................0.0%$3.61
LBTC................................................................................0.0%$3.45
USCC................................................................................0.0%$0.00
WETH................................................................................-8.2%-$20.66M
Total................................................................................100.0%$250.86M

BACKING ASSETS BY LOCATION

Fluid................................................................................43.4%$108.85M
Binance................................................................................15.8%$39.56M
AAVE V3................................................................................13.2%$33.08M
Treasury................................................................................11.0%$27.50M
Hyperliquid................................................................................7.4%$18.50M
Deribit................................................................................5.7%$14.25M
Bybit................................................................................3.3%$8.24M
USDT Cluster................................................................................0.3%$810.57K
USDC Cluster................................................................................0.0%$76.21K
ETH Cluster................................................................................0.0%$40.48
Total................................................................................100.0%$250.86M

HEDGING [5]Margin [6]ShareSize
Hyperliquid (UM) BTC-USD Perp................................................................................36.5%32.0%$39.03M
Deribit (CM) BTC-PERPETUAL................................................................................44.6%26.1%$31.80M
Binance (CM) ETHUSD_PERP #1................................................................................73.1%15.5%$18.90M
Bybit (CM) ETHUSD................................................................................59.7%11.3%$13.80M
Hyperliquid (UM) ETH-USD Perp................................................................................46.5%7.5%$9.12M
Binance (CM) BTCUSD_PERP................................................................................60.5%4.4%$5.35M
Binance (CM) ETHUSD_PERP #2................................................................................157.2%3.3%$4.07M
Deribit (CM) Empty short................................................................................0.0%0.0%$0.00
Total................................................................................100.0%$122.07M


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.