Terramatris is a DeFI (Solana Blockchain) crypto investment hedge fund started on August 22, 2023, by Reinis Fischer.
The fund operates in a hybrid mode utilizing the decentralized exchange (DEX) platform Raydium Automated Market Maker (AMM), while maintaining a private ownership structure. Although not currently registered publicly under any specific jurisdiction, its operational base primarily resides in Tbilisi, Georgia.
We are exploring the possibility of incorporating the fund in jurisdictions such as Panama, Dubai, the Cayman Islands, the British Virgin Islands, or other tax-friendly locations once the total value of the fund reaches at least $10,000.
Invest in TerraM tokens on Raydium, Jupiter or Coinbase wallet (Solana supported wallet required)
- Total supply: 10,000
- In circulation: 638 (6.38%)
- On Liquidity pool: 344 (3.44%)
- Price per token: $1.17
Not trading advice. Not soliciting for investment.
Investments in stocks, funds, bonds, or cryptos are risk investments and you could lose some or all of your money. Do your due diligence before investing in any kind of asset.
Funds performance (Weekly results)
Trading strategy
We trade options with crypto, while reinvesting premiums back into different crypto assets. At the moment we are growing our crypto portfolio by selling put options on Bitcoin (sometimes also on Ethereum and/or Solana). Additional we sell covered calls on ETH and SOL. Once we will have at least 0.01 BTC we will start selling covered calls on Bitcoin too.
Occasionally we might sell covered calls on long ETH futures. Additionally we perform carry trades on crypto, collecting funding fees.
When placing our options trades we aim for about 0.5-1% daily in options premium, from the total fund's value, while in the early days of the fund we were more risk hungry and were growing 1-2% daily.
Crypto Research & Analytics
Prior to executing our options trades, we meticulously analyze options Greeks and employ technical analysis methodologies to enhance our comprehensive understanding of the market. Continuously, we actively participate in the cryptocurrency community, diligently scouting emerging altcoins and engaging in crypto networking activities to remain abreast of market developments and opportunities.
Some of our observations are published on our blog and on the fund manager's YouTube channel
Risk management
As we grow our portfolio from selling put options, we also hedge the portfolio both with options and futures. In case of a suffering put option, we try to roll it down and forward, preferably for a credit. In rare cases, we might take an assignment and switch to covered call writing using futures with leverage as collateral instead of actual coins.
For protecting against market crashes, we constantly buy > 45 DTE put options as a protection for the portfolio.
Trading volume (Options)
In a remarkable feat of growth, Terramatris crypto hedge fund, achieved a nearly 20-fold increase in monthly trading volume throughout 2023. Starting from a modest $10,000 in August, the fund saw a substantial surge, reaching an impressive $200,000 by December.
Looking ahead we are aiming to propel the trading volume to an impressive $1 million by the close of 2024.
Trading volume is directly related to our position sizes and risk/reward ratio.
Holdings / Assets Under Management (AUM)
Our portfolio experiences growth through various channels, including put and call premiums, cryptocurrency appreciation, management and performance fees. Additionally, we occasionally receive complimentary coins through airdrops, or rewards (JUP, ZETA). A portion of our portfolio is allocated to staking (RAY)
We often get asked - what is our AUM? TerraM token holdings are listed below.
| Coin | Count | Price | Buy price | Value |
| BTC | 0.00510766 | $63,910 | $46,491 | $326.43 |
| ETH | 0.11093308 | $3,129 | $2,580 | $347.13 |
| EUR | 286.26 | $1.07 | $1.09 | $306.30 |
| JUP | 209.25 | $1.06 | $0.03 | $221.81 |
| RAY | 12.05 | $1.60 | $1.15 | $19.28 |
| SOL | 1.054366 | $146.01 | $78.25 | $153.95 |
| TerraM | 302.77 | $1.18 | $1.04 | $357.19 |
| USDC | 150.45 | $1.00 | $1.00 | $150.45 |
| XLM | 1329.8 | $0.11 | $0.12 | $150.59 |
| ZETA | 18.1109121 | $1.19 | $0.00 | $21.55 |
| $2,054.68 |
Last updated: April 25, 2024
TerraM token
You can participate in TerraMatris crypto hedge fund by owning TerraM coin.
Each TerraM token corresponds to a 1/10,000th share in the fund, allowing investors to gain exposure to a diversified range of assets and strategies. This not only spreads risk but also offers a chance to benefit from the fund's performance.
Swap on Raydium, Jupiter or Coinbase Wallet
Get in touch
If you are interested in learning more or participating in the fund directly, not via TerraM token (minimum investment $10,000) in a more classical hedge fund way, we offer 2/20 model - feel free to write an email to reinis.fischer {at} terramatris.eu or connect on LinkedIn
