August 2025

The TerraM token derives its value from the earnings generated by the Terramatris Fund. As the fund grows, a portion of that growth is systematically directed toward strengthening token liquidity. This structure is designed to provide existing token holders with improved price stability and reduced transaction slippage.

Liquidity Management Plan

Liquidity is central to the long-term functioning of TerraM. Our structured plan includes:

At Terramatris we are always exploring new ways to structure option strategies around crypto assets. One of the more interesting challenges we’ve faced recently is figuring out how to trade covered calls on XRP.

Our favorite trading platform, Bybit, unfortunately does not yet offer XRP options. That left us looking for alternatives, and naturally, Deribit became our next candidate. Deribit does offer XRP options, but as always, the devil is in the details.

In the past week, one of our ETH option positions came under pressure. We were short 1.7 ETH put contracts with a 4100 strike expiring on August 22. With ETH price action weakening, the trade started to look challenged.

At Terramatris, our primary focus is risk management. Collecting option premium is attractive, but holding onto a position that feels unsafe can quickly turn into a liability. We therefore took a hard look at our choices: