thesis terminal

{
  "asset": "HYPE",
  "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": "HYPE",
      "entry": {
        "px": 90.877,
        "type": "market"
      },
      "kind": "spot",
      "note": "Collateral: 55.01 HYPE ($5,000 at 90.88), assumed - no wallet is attached, so this is 50.0% of the nominal $10,000 book. It is pledged, not sold: the loan below is drawn against it.",
      "notionalUsd": 5000,
      "qty": 55.01,
      "side": "buy"
    },
    {
      "carryPerDayUsd": -0.25,
      "coin": "USDC",
      "kind": "borrow",
      "loan": {
        "borrowApy": 5.77,
        "collateralCoin": "HYPE",
        "collateralPx": 90.877,
        "collateralUsd": 5000,
        "costPerDayUsd": 0.25,
        "liqPx": 45.438,
        "ltvMax": 0.62,
        "ltvUsed": 0.31,
        "rateAsOf": 1789900548395,
        "thresholdIsLtv": true,
        "thresholdPct": 0.62,
        "venue": "hyperlend-pooled"
      },
      "note": "$1,550 of USDC borrowed on hyperlend-pooled against $5,000 of HYPE: 31.0% loan-to-value, which is 50.0% of the 62.0% maximum the pool publishes. 5.77% borrow APR on hyperlend-pooled, $21.7M supplied, 62% maximum loan-to-value (rate as published by DefiLlama, 22 min old). $34.3M of USDC in it is unborrowed. Interest is $0.25 a day on this principal. Liquidation at 45.44 (50.0% below 90.88): DefiLlama publishes no separate liquidation threshold for this pool, so the pool's own 62.0% maximum loan-to-value is used as one, and that is an assumption this ticket is making out loud.",
      "notionalUsd": 1550,
      "side": "borrow"
    },
    {
      "carryPerDayUsd": 1.24,
      "coin": "HYPE/USDC",
      "kind": "lp",
      "note": "The loan goes here: $1,550 into a 73.36-108 band (38.6% 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 90.88 it mints 45.4% HYPE and the rest USDC, bought with part of the same loan. fee APR 29.20% today, 46.59% 30-day mean total APY (fees and rewards), $6.3M TVL on project-x (DefiLlama, today).",
      "notionalUsd": 1550,
      "range": {
        "high": 108.4,
        "low": 73.36
      },
      "side": "deposit"
    },
    {
      "carryPerDayUsd": 0.21,
      "coin": "HYPE",
      "entry": {
        "px": 90.604,
        "type": "market"
      },
      "hedgeOf": 2,
      "kind": "perp",
      "leverage": 2,
      "marginMode": "cross",
      "note": "Hedge: at 90.88 the band holds 45.4% of its value in HYPE, so the short is that share of $1,550, not a flat half. No stop: it is a hedge. The share moves with price - rebalance when price moves +/-9.6%. The collateral above is deliberately NOT hedged: it is the bag the sentence asked to keep.",
      "notionalUsd": 703.09,
      "qty": 7.76,
      "side": "short"
    }
  ],
  "riskUsd": 5351.55,
  "template": "loan_lp_hedge"
}