ETH++ Strategy Summary

Core activity:

  • Trades ETH Options inside a range of protocols (Dopex, Premia, Hubble, Rysk etc)

  • Then actively trade the delta ($ETH / $BTC / $LINK /UNI) inside GMX

ETH++ is structured similarly to GM++, using a similar framework for its investment decisions. Still, it adds a few additional strategies enabled by the “lego” of Dopex and similar protocols:

  • Strategy 1: Buy/Sell ETH Options inside Dopex (Delta Neutral)

  • Strategy 2: Possibly Hedge ETH Options delta inside GMX

Unlike GM++, which only trades two assets ($ETH and $GLP) within GMX, ETH++ also employs arbitrage strategies by buying or selling ETH and related tokens options, then hedging those options inside GMX.

ETH++ purchases/writes a variety of ETH options, such as Straddles, Atlantics, and Single-Sided Vaults (Dopex). Because ETH++ trades both upside and downside options, it’s designed to be, on average, market neutral.

Unlike GM++, which offers large payoffs once a certain threshold is breached, ETH++ is more conservatively aligned.

The ETH++ strategy is designed with a smoother return profile than our other vaults.

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