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.
maxBTC exchange rate is now above 1.0.
The JLP BTC-Neutral strategy has recovered the ~10 bps deployment cost and is net positive since last week’s deployment.
maxBTC is now yield bearing!
The strategy is live, yield accrual has started, and deployment costs came in lower than expected at ~10 bps (vs. 30 bps estimated).
APY will appear in the vault UI over the next few days as oracles update.
maxBTC is becoming yield-bearing.
Fund deployment into the JLP BTC-neutral strategy is underway, and maxBTC will start accumulating rewards once the deployment is completed.
Deposits and withdrawals are temporary disabled while deployment and migration to the Structured app are in progress.
Existing deposits remain visible in the vault interface on Neutron and will start reflecting performance after deployment.
maxBTC will soon reopen for WBTC deposits on and vault users will be able to access and track their maxBTC directly through the app. Withdrawals to WBTC will be enabled in November.
Users holding maxBTC on Neutron can continue using it across DeFi without interruption.
The oracle price of maxBTC will adjust slightly at strategy deployment to reflect entry costs of ~30 bps (0.3%). Initial redemption rate is ~0.997 BTC per maxBTC, offset by yield over time.
Updates will be shared on X and Telegram: