Terramatris is a private crypto investment hedge fund started back in August, 2023, by me. The fund is privately held and is not publicly registered under any specific jurisdiction. Though, its available to participate in the fund via Raydium liquidity pool by swapping USDC against TerraM.
March was stellar in terms for the crypto growth, we managed to grow our portfolio by more than 50%. Besides that we got our second customer for the hedge fund, investing directly USDC 588. We are now having 2 private customers, for whom we earned $121.99 (before our cut of 20%)
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 Ethereum and Bitcoin. Once we will have at least 0.1 ETH or 0.01 BTC we will start selling covered calls on these positions to boost the total return. Occasionally we sell covered calls on long ETH futures.
Interested crypto investors can SWAP USDC for TerraM tokens on the Raydium Decentralized exchange.
During the month of March, there were no additional investment attracted to the TerraM coins on the Raydium liquidity pool, all the growth comes from the options trading, crypto gains, management fees and from funding fees on carry trades.
In March 2024 we were able to grow our crypto hedge fund to a whopping $1,969.78. The total fund's growth during the month was $712.47, which is about $22.98 daily.
Terramatris crypto hedge fund grows not only from options trades and crypto appreciation, it also grows from funding fees on carry trades, management and also performance fees. We look on this income as quite safe, and market neutral. In March $57.93 were made from market neutral trades. And that's awesome
Month over month we recorded 56.67% growth, and I would be really delighted if we would keep such growth in the future months, but I also understand that might be very challenging, not to say highly unlikely.
Options trading Volume
In March our funds trading volume reached $238,000. We have set our eyes reaching 1 Million in trading volume by the end of the year.
Options trades and premium
In total we made 45 options trades last month, collecting $345.93 in options premium mostly from 1DTE options trades on Bitcoin. At the end of the month there are no trade adjustments.
Carry Trade with XRP
Additionally to income from options trades in the month of March we made additional $33.54 from funding fees on carry trade with XRP. From the capital invested in this carry trade ($700) that would give about 4.79% monthly yield. Awesome. We are quite satisfied with the returns form the carry trades and I'm looking to grow our carry trade portfolio ever month but by bit.
I invested additional $200 in XRP carry trade. Now holding 1700 XRP while shorting with the same amount XRP perpetual futures contract. In case we will be able to repeat 4.79% funding fee return in April, we might be looking at about $51.15 additional income. Quite decent.
Management Fee and Performance fee
As we welcomed our second private customer we booked $24.39 performance fee at the end of the month. All fees are reinvested back into TerraM token
TerraM token
In total there are 303 TerraM tokens available for Swapping against USDC.
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.
A Step-by-Step Guide to Buying TerraM Tokens via Raydium AMM
Goals for April 2024
For the month of April 2024, I would be delighted to see funds value grow to $2,500-$2,600
If you are interested in learning more or participating in the fund directly (minimum investment $10,000) - feel free to write me an email to reinis.fischer {at} terramatris.eu or connect on LinkedIn