thesis terminal

{
  "asset": "ETH",
  "constraints": {
    "defined_risk": false,
    "delta_neutral": true,
    "hands_off": false,
    "keep_dry_powder": false,
    "no_cex": false,
    "no_sell_holdings": false
  },
  "horizon": "months",
  "injection": 0.03,
  "view": "range"
}

{
  "legs": [
    {
      "coin": "ETH/USDC",
      "kind": "lp",
      "note": "Concentrated band 2,129-3,201 (40.2% wide), from 4x the daily ATR (the 14-bar 1h ATR scaled by sqrt(24), because this prototype only fetches 1h candles) over a months horizon. At 2,665 it mints 45.2% ETH and the rest USDC. Divergence-loss figures use the concentrated-range value function for this exact band (Uniswap-v3 geometry), not the full-range constant-product formula. fee APR 0.00% today, 90.05% 30-day mean total APY (fees and rewards), $266k TVL on ramses-cl-v2 (DefiLlama, today).",
      "notionalUsd": 500,
      "range": {
        "high": 3200.57,
        "low": 2128.83
      },
      "side": "deposit"
    },
    {
      "coin": "ETH",
      "entry": {
        "px": 2656.7,
        "type": "market"
      },
      "hedgeOf": 0,
      "kind": "perp",
      "leverage": 2,
      "marginMode": "cross",
      "note": "Hedge: at 2,665 this band holds 45.2% of its value in ETH, so the short is that share of the LP notional, not a flat half. No stop - it is a hedge. The share moves with price: rebalance when price moves +/-10.1%.",
      "notionalUsd": 225.82,
      "qty": 0.085,
      "side": "short"
    }
  ],
  "riskUsd": 612.91,
  "template": "range_lp_hedged"
}