Terramatris LLC is a private crypto hedge fund registered in the State of Wyoming, United States. The fund focuses primarily on systematic Ethereum options selling strategies combined with active treasury management and long-term crypto asset accumulation.
The core strategy centers around generating yield from Ethereum options markets while managing downside risk through disciplined hedging and portfolio management.
In addition to the ETH options strategy, we also manage an open NAV Solana-focused growth fund and maintains active participation across selected decentralized finance ecosystems.
Trading Strategy
Terramatris primarily focuses on systematic Ethereum options selling strategies designed to generate recurring cash flow while gradually increasing long-term crypto holdings. The fund generally prefers selling cash-secured puts on Ethereum, particularly during periods of elevated implied volatility, while selectively using covered calls and synthetic covered call structures when market conditions support additional premium generation.
A strong emphasis is placed on delta management, position sizing, and active risk control. Losing positions are often managed by rolling options down and forward, preferably for a net credit, while perpetual futures may be used both for hedging and for short-term directional exposure during volatile market conditions. Premium income generated through options activity is regularly reinvested back into the broader treasury, stablecoin reserves, liquidity operations, and long-term ecosystem growth initiatives.
Risk Management
Risk management remains central to all Terramatris operations. The fund continuously monitors portfolio delta exposure, margin utilization, liquidity conditions, volatility expansion, stablecoin allocation, and broader counterparty risk in order to maintain long-term treasury stability during changing market environments. As a general rule, Terramatris aims to avoid using leverage above 2X, preferring a more conservative approach focused on long-term capital preservation and sustainable portfolio growth.
When positions move against us, we actively manage exposure by rolling options down and forward, preferably for a net credit, while selectively using perpetual futures and additional options structures for hedging purposes. During periods of elevated volatility or uncertainty, leverage exposure may be reduced further and stablecoin reserves temporarily increased to preserve flexibility and protect the broader portfolio. Capital preservation and long-term sustainability remain more important than pursuing aggressive short-term performance targets.
Weekly Results (Ethereum strategy)
Terramatris publishes regular weekly updates covering fund performance, treasury growth, Ethereum options activity, TerraM token liquidity, Solana fund development, market outlook, and overall portfolio positioning. These reports provide transparency into the fund’s operations while documenting the evolution of our strategies and risk management decisions over time.
In addition to performance reporting, weekly updates often include commentary on crypto market conditions, volatility environments, treasury allocation changes, and ongoing developments within the broader Terramatris ecosystem. Selected research and observations are also shared publicly through the Terramatris blog and social channels.
Solana Fund
Alongside the core Ethereum options strategy, Terramatris also operates a separate open NAV Solana-focused growth fund designed for long-term ecosystem accumulation and participation. The strategy focuses on building exposure to selected Solana ecosystem assets while actively participating in decentralized finance activities such as staking, liquidity operations, ecosystem-based yield generation, and selective covered call structures where appropriate.
The Solana fund operates independently from the primary Ethereum options strategy while remaining part of the broader Terramatris ecosystem and long-term treasury development objectives.
Crypto Research & Analytics
Before entering positions, Terramatris evaluates a combination of options Greeks, implied volatility conditions, market structure, funding rates, liquidity environments, technical analysis, macro crypto trends, and on-chain ecosystem activity. The objective is not simply short-term speculation, but building long-term asymmetric exposure within the digital asset sector while actively managing downside risk and treasury stability.
In addition to active portfolio management, Terramatris remains engaged across multiple crypto communities and ecosystems, regularly sharing market observations, trading commentary, and research through the Terramatris blog, weekly fund reports, social media updates, and YouTube content. These publications document both the evolution of the fund’s strategies and broader developments within the cryptocurrency markets.
TerraM Token
As part of our broader DeFi activities and ecosystem experimentation, Terramatris has launched its own native TerraM token on the Solana blockchain. TerraM was created as an experimental mechanism for distributing a portion of the fund’s weekly realized profits while also building a community around the broader Terramatris ecosystem and treasury operations.
There are 10,000 TerraM tokens minted in total. The token trades on decentralized exchanges within the Solana ecosystem and may be acquired using USDC using compatible Solana wallets such as Phantom. Terramatris periodically injects liquidity and conducts treasury operations intended to support long-term ecosystem sustainability and token market stability.
TerraM is intended primarily as an ecosystem and participation token and does not represent regulated equity, securities, ownership rights, or shareholder claims in any legal entity.
Get in Touch
For partnership discussions, strategic collaboration, or larger direct participation opportunities, feel free to reach out.