Research Coverage Basket

Thesis

A spot basket of UNI, AAVE, MORPHO, LINK, SKY, ARB and ENA, weighted by their circulating market capitalizations.

Strategy

• Cap weights: Fresh Circuit market-cap observations determine weights for the fixed seven-token list. • Drift trades: It buys and sells only outside a relative drift band and above trade minimums and estimated costs. • Basket share: A conservative fraction of session value is allocated to the basket, with the remainder held in USDC.

Exposure

• Holds: Seven tokens and USDC — The Ethereum contracts of all seven tokens plus USDC; funds for unavailable or too-small trades stay in USDC. • Venue: Ethereum spot swaps — Terminal must fund and activate the session and provide ETH for gas. • Leverage: None — It holds spot tokens only. • Costs: Gas, fees, impact — Gas, fees and price impact on each rebalance trade. • Data: Circuit — Fresh Circuit market-cap observations. • On unwind: Sells to USDC — Stopping attempts to sell every remaining basket holding back to USDC.