Structured

@0xwassie Appreciate your support!

@StructuredFi nice recovery from that feb 6 drawdown still gotta respect the jlp strategys yield resilience

Update on maxBTC JLP Strategy – Feb 6 Volatility Between 00:00–04:00 UTC on Feb 6, extreme market volatility resulted in a 25 bps drawdown in the JLP BTC Neutral strategy. This equates to ~30 days of protocol yield. Performance has stabilised since. Primary drivers: 1. Delta exposure during rapid price movement 2. A temporary spike in funding rate costs A full review is underway. Additional controls under consideration: • Optimised hedge parameters • Tighter delta management in high-vol regimes

@kovanter8222 maxBTC performance is not dependent on NTRN, Neutron and Mars protocols Please see details on the underlying strategy here: docs.structured.money/strategy/overv…

@StructuredFi Mars Protocol exploit happened, and now Neutron holders are paying the price They’re covering the damage by dumping NTRN on the market nonstop Constant sell pressure, and with unlocks added on top, the price can’t even breathe. This is not relief,this is punishment for investors

@SatoshiMaverick @neutron_org JLP BTC Neutral strategy does not interact with Neutron token in any way Please see the details here: docs.structured.money/strategy/overv…

@StructuredFi @neutron_org What is the role of Neutron token here?

Markets are volatile, but Structured is performing as designed. The JLP BTC Neutral Strategy remains stable, delivering 7.8% BTC-denominated 7-day APY. Track performance on the dashboard: app.structured.money/insights

Congrats to @citrea_xyz on the mainnet launch! Bitcoin-aligned infrastructure is here. Excited to be building as part of the first wave of Bitcoin-native applications.

In the past, Bitcoin mainly offered price exposure with limited ability to serve as collateral or generate yield. That is changing as infrastructure improves and Bitcoin becomes usable beyond holding it. A few things are making this possible: 1. Custody frameworks and counterparty standards have matured 2. ETFs have wrapped Bitcoin in a form that fits institutional infrastructure 3. Prime brokerage services for digital assets are becoming real These changes move Bitcoin from pure exposure toward measurable yield potential. With a zero hurdle rate, even modest yield is directly additive.

Main drivers of maxBTC/BTC exchange rate volatility: Movements in the exchange rate reflect the underlying economics of the strategy, not BTC price moves. - When yield exceeds funding costs, the rate increases - If funding outweighs yield, it can flatten or dip

maxBTC has continued to trend upward, driven by consistent BTC-denominated returns from the JLP BTC-Neutral strategy. Dec 5 - Jan 12 performance: - Exchange rate: +37.5 bps - Strategy APY: 3.7% Since deployment in late October: +93.5 bps relative to BTC.

Not all liquid strategy tokens qualify as financial primitives. A financial primitive is an LST that can be used as collateral, with predictable pricing and exits even under market stress. Tokens that don’t meet this standard are effectively deposit receipts. They confirm ownership, but don’t enable capital efficiency. Collateral readiness = the difference between a receipt and a primitive. Learn more about how to distinguish between higher and lower quality LSTs: x.com/StructuredFi/s…

maxBTC has maintained a steady upward trajectory as BTC-denominated returns accumulate through the JLP BTC-Neutral strategy. Since deployment in late October, the exchange rate has appreciated by 56 basis points relative to BTC. Oct 23 - Dec 4 performance: - Exchange rate +56 bps - Average strategy APY 5.76% Public performance dashboard coming soon.

6/6 Learn more about the JLP BTC-Neutral strategy in the docs: docs.structured.money/strategy/overv…

5/ The 30% held with Ceffu is used as principal collateral for hedging. Perp futures hedging on Binance offsets SOL and ETH exposure while keeping the strategy effectively 1× long BTC. This market-neutral design preserves BTC alignment and rebalances hedge sizes automatically.

BTC yield from real market activity. maxBTC generates transparent BTC-denominated returns through its initial underlying strategy, JLP BTC-Neutral. Here’s how it works ↓