October 2025

Sometimes the crypto world brings pleasant surprises — and this week, JUP Network did exactly that for us at Terramatris.

Back in January 2024, JUP tokens unexpectedly landed in our portfolio as part of a surprise airdrop. At the time, we didn’t have any specific stance on the project — we weren’t particularly bullish or bearish. 

Jupiter (JUP): Why This Solana DeFi Token Caught Our Attention

At Terramatris, we examine how funds and financial structures work across different jurisdictions. We don’t provide legal or tax advice, but we do explore how certain models stand out in the global landscape. One of the most compelling examples today is Georgia’s tax residency framework, which offers particular advantages to high-net-worth individuals (HNWIs) and crypto investors.

What Is Georgian Tax Residency?

The most common path is the 183-day rule:

The global crypto market is becoming more institutionalized, and even small proprietary trading firms need to think about jurisdiction, compliance, and taxation. While the U.S. (Wyoming, Delaware) and offshore hubs (BVI, Seychelles) remain popular, Georgia, the country in the Caucasus,has quietly emerged as an attractive option for crypto-friendly businesses.

Below, we’ll explore why Georgia might make sense for a small crypto trading firm, what the registration process looks like, and the pros and considerations you should keep in mind.

At Terramatris, we’ve always been fascinated by the evolution of crypto markets and the growing range of opportunities they create for traders and investors. For years, our main focus has been on more traditional centralized exchanges (CEX) such as Bybit and Deribit. These platforms have provided liquidity, stability, and advanced trading features—making them indispensable for our operations.

But one thing has always been missing: a true decentralized exchange (DEX) for options trading.

At Terramatris, our core strategy is straightforward: we focus on established assets like Bitcoin, Ethereum, and Solana, and we use them to generate a steady flow of options premium. That premium is what drives our consistency. It’s boring, it works, and it’s repeatable.

When we launched the Solana Covered Call Growth fund, one of the exciting questions on the table was tokenization. The idea of creating a fully on-chain, tokenized representation of fund shares is appealing: transparency, liquidity, and a modern Web3-native structure. However, after careful consideration, we decided not to tokenize—at least not yet.