RESOLV PROOF OF RESERVES

BUILT BY APOSTRO


GENERAL METRICS

  • TVL: $383.21M
  • Market delta [1]: -4.22%
  • USR TVL: $266.98M
  • RLP TVL: $116.23M
  • RLP/USR ratio: 43.53%
  • USR over collateralization: 118.98%
  • Backing assets value: $317.66M
  • Long/Short ETH exposures [2]: $75.68M/$57.17M
  • Long/Short BTC exposures [2]: $51.46M/$86.14M
  • Strategy net exposure [3]: -$16.17M [4]

COLLATERAL POOL BY ASSET

USDT0................................................................................35.8%$113.72M
weETH................................................................................32.7%$104.00M
USDC................................................................................22.6%$71.68M
BTC................................................................................12.1%$38.44M
wstETH................................................................................7.9%$25.17M
apxETH (pending unstake)................................................................................5.6%$17.93M
WBTC................................................................................4.1%$13.02M
USDT................................................................................1.3%$4.24M
ETH................................................................................0.7%$2.35M
fUSDT................................................................................0.3%$810.30K
stETH................................................................................0.0%$74.19K
fUSDC................................................................................0.0%$69.23K
apxETH................................................................................0.0%$3.30K
LBTC................................................................................0.0%$104.50
USCC................................................................................0.0%$0.00
WETH................................................................................-23.3%-$73.86M
Total................................................................................100.0%$317.66M

BACKING ASSETS BY LOCATION

Fluid................................................................................35.8%$113.72M
AAVE V3................................................................................31.0%$98.53M
Binance................................................................................14.1%$44.75M
Hyperliquid................................................................................6.7%$21.26M
Treasury................................................................................5.7%$18.19M
Deribit................................................................................4.1%$13.09M
Bybit................................................................................2.3%$7.25M
USDT Cluster................................................................................0.3%$810.30K
USDC Cluster................................................................................0.0%$69.23K
ETH Cluster................................................................................0.0%$13.53
BTC Cluster................................................................................0.0%$0.00
Total................................................................................100.0%$317.66M

HEDGING [5]Margin [6]ShareSize
Hyperliquid (UM) BTC-USD Perp................................................................................41.5%28.8%$41.20M
Deribit (CM) BTC-PERPETUAL................................................................................32.5%28.0%$40.06M
Binance (CM) ETHUSD_PERP #1................................................................................61.9%13.2%$18.96M
Bybit (CM) ETHUSD................................................................................46.7%10.8%$15.50M
Binance (CM) ETHUSD_PERP #2................................................................................66.3%8.7%$12.50M
Hyperliquid (UM) ETH-USD Perp................................................................................40.7%7.1%$10.20M
Binance (CM) BTCUSD_PERP................................................................................37.5%3.3%$4.78M
Deribit (CM) Empty short................................................................................0.0%0.0%$0.00
Total................................................................................100.0%$143.20M


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.