Blog
Ep 111: TerraM Fund’s Strong Recovery Marks 15.66% Weekly Gain and 96.53% YTD Growth
| Weekly updates | 45 seen
As of October 3, 2025, the TerraM crypto fund value stood at $11,162 what is an increase of 15.66% or +$1,511 in dollar terms when compared to the last week. That comes as a strong relief recovery after a sharp decline last week.
We’re still puzzled about what exactly happened last week, aside from it being quarter-end. We’re now using this comeback to strengthen our positions, reduce leverage, and ensure that when the next market selloff arrives, we’ll be better prepared.
From the previous all time high we are still -4.75% away, while YTD funds value has been at 96.53%.
Options IncomeWe sell weekly options every Friday, which is why this update is published at the end of the week.
This week, in total, TerraM fund earned $203 from options premiums,…
Solana Covered Call Growth Fund Performance - September 2025
| Funds | 18 seen
The Terramatris Solana Covered Calls Growth Fund launched on September 4, 2025, with an initial seed contribution of $100. September marked the Fund’s first month of operations, with the onboarding of seven subscribers and the issuance of 5,973 NAV units, bringing total Assets Under Management (AUM) to $5,536.
The Fund remains open to new capital commitments until it reaches $100,000 in AUM. TerraM Fund, one of our core investors, has committed to ongoing biweekly contributions of $100 through at least September 2026.
Execution of the Fund’s covered call strategy proceeded as intended during September. NAV closed the month at $0.93 per share, reflecting ordinary option-market dynamics amid broader volatility in Solana pricing.
For full details on Fund activity, fees,…
Delta-Neutral Arbitrage in Crypto: Inside Terramatris Solana Strategy
| Research | 45 seen
At Terramatris, we are still an early-stage crypto hedge fund. Our core strategy leans toward directional exposure—going long on assets we believe in and applying quantitative options strategies to generate income. Specifically, we sell puts and calls on assets like Ethereum and Solana, capturing option premiums while managing risk.
This allows us to grow the fund more aggressively, as we participate directly in upside movements while securing steady cash flow from option sales.
However, as outside capital gradually flows into the fund, we are also introducing arbitrage strategies alongside our directional and options trades. These arbitrage trades are not designed to rapidly grow a small fund, but they add balance, protection, and consistency to our overall portfolio.
…Ep 110: TerraM Fund Sees Worst Week of 2025, Yet Holds +69.92% YTD Gain
| Weekly updates | 35 seen
As of September 26, 2025, the TerraM crypto fund value stood at $9,651 what is a decrease of -17.64% or -$2,067 in dollar terms when compared to the last week.
That was definitely one of the worst-performing weeks of the year, rivaling late March/early April when our fund dropped by a similar percentage. Back then, however, the pain felt more. Lessons learned.
Because we use only a very small amount of leverage, we are indeed affected by market moves—but we move together with the broader market.
Certainly such massive move stings for small-sized funds like ours, but it also serves as a reminder of just how volatile crypto markets can be. This week’s drop is largely driven by the broader decline in crypto prices — nothing unexpected. Theoretically, we could…
Why We Decided to Invest in Liberland Dollar (LLD)
| Investment ideas | 76 seen
At Terramatris, we are always exploring opportunities that align with our values of innovation, independence, and forward-thinking. Sometimes, these discoveries come through structured research, and sometimes they appear unexpectedly. Our recent investment into Liberland Dollar (LLD) belongs to the second category — a pleasant surprise during our ongoing research into projects that combine crypto innovation with strong community values.
Over the past year, we’ve attended few crypto-related meetups and brunches in Tbilisi, Georgia, a city that has become a lively hub for blockchain conversations. At nearly every event, we’ve run into Samuela, an enthusiastic Czech representative of Liberland, who passionately shares updates about the micronation and its ambitions.
At one of…
Ep 109: TerraM Fund Weekly Report – Value at $11,719, +2.25% Weekly, +106% YTD
| Weekly updates | 32 seen
As of September 19, 2025, the TerraM crypto fund value stood at $11,719 what is an increase of +2.25% or +$257 in dollar terms when compared to the last week. Absolutely brilliant!
Last few weeks have been quite rewarding in crypto markets, with some type of consolidation forming.
As put sellers, we remain cautious, while maintaining an opportunistic outlook.
YTD our main TerraM fund is +106.33%. If the yearly pattern holds, we may be at the beginning of a run heading into Q4 2025. That said, we remain grounded and cautious.
Options IncomeWe sell weekly options every Friday, which is why this update is published at the end of the week.
This week, in total, we earned $160 from options premiums, translating to a 1.36% weekly return on capital. Our…
Why We Launched Solana Covered Call Growth Fund
| Funds | 116 seen
On September 4, 2025, Terramatris LLC officially launched its Solana Covered Call Growth Fund, a specialized investment vehicle designed to combine the growth potential of Solana (SOL) with disciplined income generation through covered call strategies. The fund began with an initial seed investment of $100 from TerraM and a net asset value (NAV) of 1.00, setting the foundation for future expansion.
Economics Behind the FundThe economic rationale of the fund is straightforward yet ambitious. By holding SOL tokens as the core asset, the fund is directly exposed to the appreciation potential of one of the fastest-growing blockchain ecosystems. At the same time, by systematically selling call options against these holdings, the fund generates additional yield, enhancing returns…
Ep 108: Fund Surges +7.69% This Week, Doubling Value in Under 9 Months
| Weekly updates | 47 seen
As of September 12, 2025, the Terramatris crypto hedge fund value stood at $11,461 what is an increase of +7.69% or +$818 in dollar terms when compared to the last week. Absolutely brilliant!
The week turned out better than expected, with bold moves - particularly in Solana. Most cryptocurrencies are trending higher, and to our surprise, the small position we began building in Plume just a few weeks ago is already up 40%.
As put sellers, we remain cautious, while maintaining an opportunistic outlook.
YTD our crypto hedge fund is +101.79%. Absolutely remarkable - we’ve doubled the fund’s size in less than nine months. If the yearly pattern holds, we may be at the beginning of a run heading into Q4 2025. That said, we remain grounded and cautious.
Options…Episode 107 / Fund Grows 1.86% | New Solana Covered Call Fund & JUP Staking
| Weekly updates | 77 seen
As of September 5, 2025, the Terramatris crypto hedge fund value stood at $10,643 what is an increase of +1.86% or +$194 in dollar terms when compared to the last week. Also we have set another all time high. Awesome!
The past week started with some active moves — we even adjusted one ETH position by rolling it down and forward. However, as the days progressed, market activity slowed, and the week ended relatively calm, with little movement in crypto markets.
At this point, we might be entering a consolidation phase, setting the stage for a binary outcome — either the start of a bullish run or a sharp bearish attack.
As put sellers, we always remain cautious while maintaining an opportunistic outlook.
YTD our crypto hedge fund is +87.38%.
Options Income…Jupiter (JUP): Why This Solana DeFi Token Caught Our Attention
| Investment ideas | 57 seen
At Terramatris, we believe in allocating small portions of our portfolio to projects with meaningful upside—a strategy that led us to JUP, the governance token of Jupiter, Solana’s leading DEX aggregator.
A Surprise Airdrop: A Door to ExplorationIn February 2024, we unexpectedly received JUP tokens via an airdrop in our Phantom wallet. This surprise grant sparked our curiosity. Since then, we’ve been steadily exploring Jupiter’s ecosystem—staking, voting, and observing its evolving DeFi utility—without letting excitement cloud our judgment.
What Is Jupiter—and Why It MattersJupiter is a decentralized exchange (DEX) aggregator on Solana, routing token swaps across over 20 liquidity sources like Raydium and Orca to find the best execution with low slippage It has grown…