The published mandate behind the lead strategy sleeve. Asset universe, exposure bands, hard risk limits, and rebalancing cadence — written down, audited, and enforceable against the daily PnL the desk signs.
Why this page
Every sleeve on the desk has a written mandate. The BTC long-short basis carries the directional exposure budget; the remaining sleeves (ETH staking-spread, SOL momentum + carry, stable & basis basket) share the same risk lot. The live status block below reflects the sleeve's current mode and rebalance timestamp.
Mandate status is unavailable right now.
BTC long-short bears the directional exposure budget for the desk. Perp-curve, ETF creation and redemption tape (IBIT, FBTC), and miner-flow overlays are sized off realised volatility and the funding term structure so the sleeve stays inside its drawdown and leverage caps while expressing a deliberate, audited view on BTC.
Gross
1.2–1.8×
Net
-0.2–0.6×
Max drawdown · cumulative
8.00%
Leverage cap · gross
2.00×
Single-trade VaR · 1d, 95%
0.75%
00:30 and 12:30 UTC, plus an intraday risk pass whenever realised 1-day VaR breaches 60% of the single-trade cap or any sleeve approaches 60% of its drawdown slot.
Next step
Each daily row on the PnL dashboard belongs to a sleeve that traces back to this mandate, and each row is reproducible from the seeded snapshot recipe — an allocator can re-derive it.