RESOLV PROOF OF RESERVES

BUILT BY APOSTRO


GENERAL METRICS

  • TVL: $364.90M
  • Market delta [1]: 0.00%
  • USR TVL: $303.85M
  • RLP TVL: $61.05M
  • RLP/USR ratio: 20.09%
  • USR over collateralization: 119.35%
  • Backing assets value: $362.66M
  • Long/Short ETH exposures [2]: $224.35M/$224.35M
  • Long/Short BTC exposures [2]: $88.03M/$88.03M
  • Strategy net exposure [3]: $2.22K [4]

COLLATERAL POOL BY ASSET

wstETH................................................................................60.1%$217.98M
WBTC................................................................................23.9%$86.62M
USDC................................................................................10.9%$39.55M
apxETH................................................................................10.7%$38.89M
wBETH................................................................................3.2%$11.46M
USCC................................................................................2.8%$10.03M
ETH................................................................................2.3%$8.42M
stETH................................................................................0.8%$2.81M
BTC................................................................................0.4%$1.41M
USDT................................................................................0.2%$696.87K
WETH................................................................................-15.2%-$55.21M
Total................................................................................100.0%$362.66M

BACKING ASSETS BY LOCATION

Binance................................................................................44.5%$161.56M
AAVE V3................................................................................27.8%$100.96M
Treasury................................................................................15.9%$57.56M
Hyperliquid................................................................................10.9%$39.42M
Deribit................................................................................0.9%$3.15M
Total................................................................................100.0%$362.66M

HEDGING [5]Margin [6]ShareSize
Hyperliquid (UM) ETH-USD Perp................................................................................39.3%22.3%$69.94M
Binance (CM) ETHUSD_PERP #1................................................................................52.2%20.9%$65.48M
Binance (CM) BTCUSD_PERP................................................................................140.3%19.7%$61.73M
Binance (CM) ETHUSD_PERP #2................................................................................55.2%14.5%$45.44M
Binance (CM) ETHUSD_PERP #3................................................................................42.7%10.1%$31.72M
Hyperliquid (UM) BTC-USD Perp................................................................................43.3%8.8%$27.54M
Deribit (CM) ETH-PERPETUAL................................................................................27.0%3.7%$11.68M
Total................................................................................100.0%$313.53M


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.