Monthly Commentary
Our Bitcoin holdings decreased slightly to 3.10 BTC as we sold a small amount to manage liquidation levels on the fall to $58,000.
Our RWA vault contains looped exposures to ONyc and APYX . ONyc is tokenised reinsurance premiums looped on Kamino with both USDC and USDG funding.
APYX is tokenised STRC exposure on Ethereum. The ONyc position has returned consistent 18-20% looped returns with little volatility or liquidation risks. We
will seek to increase our holdings in this position when possible. The APYX position was negatively affected by extreme STRC volatility. We have reduced the
looped position to a more manageable size and it it now producing stable 15% returns.
Our STX/stSTXsbtc looping strategy continues to generate around 350,000 sats every 2 weeks. With self-custodial L1 staking starting on Stacks in the coming weeks we are expecting an initial boost and then more volatile stacking returns per POX cycle. The borrow cost of the loop has remained consistently under the staking apy generating a current looping yield of 17.6%.
We continue to receive dual stacking rewards paid in sats for the 3.1BTC we have on Zest.
We are focused on grinding our way through this bear market using Bitcoin and RWA Yield cashflows to fund further BTC buys and manage debt levels. With low funding rates available on Stacks our MaxLev strategy is a feature not a bug .
Please note going forward we will now be doing quarterly updates.
Stack sats,
Stay Nasty.
Regards
Martin Taylor
