On August 23, 2023, we officially launched Terramatris, our experimental crypto investment strategy focused on generating income through options while gradually building long-term exposure to digital assets.
The beginning was modest.
During the first week of operations, on August 24, 2023, the strategy generated just $5.38 in income. It was not a significant amount in absolute terms, but it represented the first real result produced by the Terramatris portfolio.
At the time, the project was still small, liquidity was limited, and the strategy was only beginning to take shape.
The TerraM Token Came First
The TerraM token had been launched earlier, on December 12, 2022.
At that time, TerraM traded at approximately $0.86 per token. However, the quoted price did not necessarily represent a liquid market. Trading activity was extremely limited, and effective liquidity was almost nonexistent.
This meant that even small transactions could significantly influence the token price. There was no deep market, no meaningful trading volume, and no reliable mechanism for entering or exiting larger positions.
The token existed, but the ecosystem around it had not yet developed.
Launching the Terramatris Strategy
The launch of TerraMatris in August 2023 marked the beginning of a more structured approach.
Instead of relying only on the TerraM token, the strategy began using crypto assets and options to generate recurring income. The initial objective was straightforward: collect option premiums, manage risk, and gradually increase the portfolio’s asset base.
The first $5.38 earned during the opening week may appear insignificant today, but it demonstrated that the strategy could generate real cash flow.
From there, the portfolio evolved through:
- Cash-secured put selling
- Covered call positions
- Weekly and longer-dated option trades
- Position rolling and trade adjustments
- Exposure to Ethereum, Bitcoin, and Solana
- TerraM treasury and liquidity operations
The strategy has experienced both strong periods and significant drawdowns. Crypto markets remain volatile, and option income does not eliminate the risk of declining underlying asset prices.
Nevertheless, the original idea has remained largely unchanged: use options income to accumulate assets, improve portfolio break-even levels, and support the TerraM ecosystem over time.
A Small Beginning
Looking back, Terramatris did not begin with a large fund, deep liquidity, or substantial weekly income.
It began with:
- A newly launched investment strategy
- A TerraM token trading near $0.86
- Almost no token liquidity
- Just $5.38 in income during the first week
That small beginning provides useful perspective.
Every portfolio, strategy, and investment project starts somewhere. The early numbers may look insignificant, but they establish a track record and create a foundation from which the strategy can evolve.
Terramatris remains an ongoing experiment in crypto asset management, options income generation, and token treasury development.