ETH Strategy Perpetual Note
View on ETH Strategy Update info🏆
- #215 overall
- #102 on
- #1 on
Share token price
1M return (ann)
â–˛ 7.2%
Total value locked
$3.9M
peak $4.3M
3M Sharpe
8.0
3M volatility
1.2%
Utilisation
Other metrics
3M Sharpe
8.0
3M volatility
1.2%
Age
0.8 years
0.0%
Protocol Technical Risk
Lockup period
Unknown
Denomination
Returns
| 1 month | 3 month | Lifetime | |
|---|---|---|---|
| Gross | 7.2% ann 0.6% abs | 9.0% ann 2.1% abs | 13.9% ann 11.0% abs |
| Net | 7.2% ann 0.6% abs | 9.0% ann 2.1% abs | 13.9% ann 11.0% abs |
Fees
| ManageÂment | PerformÂance | Deposit | Withdraw | |
|---|---|---|---|---|
| Gross | 0.0% | 0.0% | 0.0% | 0.0% |
| Net | 0.0% | 0.0% | 0.0% | 0.0% |
Notes
ESPN (ETH Strategy Perpetual Note) lends USDS to ETH Strategy, but instead of receiving interest, ESPN receives a long-dated ETH call option. To extract yield from this long-dated call option, ESPN systematically sells shorter-dated call options on Derive. The symmetry between the long-dated convertibles acquired and short-dated calls sold keeps the strategy balanced in USD terms.
About ETH Strategy
This vault is running on ETH Strategy:
DeFi treasury protocol offering leveraged ETH exposure without liquidation risk.
Performance metrics
| Metric | Week | Month | 3 months | 6 months | Year | Lifetime |
|---|---|---|---|---|---|---|
| Ranking overall | #658 | #215 | #149 | #93 | #103 | #112 |
| Ranking on Ethereum | #389 | #102 | #70 | #37 | #34 | #35 |
| Ranking on ETH Strategy | #1 | #1 | #1 | #1 | #1 | #1 |
| CAGR (net) | 2.2% | 7.2% | 9.0% | 12.1% | 13.9% | 13.9% |
| CAGR (gross) | 2.2% | 7.2% | 9.0% | 12.1% | 13.9% | 13.9% |
| Returns (net) | 0.0% | 0.6% | 2.1% | 5.8% | 11.0% | 11.0% |
| Returns (gross) | 0.0% | 0.6% | 2.1% | 5.8% | 11.0% | 11.0% |
| Sharpe ratio | 7.22 | 8.15 | 8.01 | 7.13 | 7.29 | 7.29 |
| Max drawdown | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Volatility | 0.3% | 1.0% | 1.2% | 1.8% | 2.6% | 2.6% |
| TVL low | $3.88M | $3.88M | $3.88M | $3.78M | $1.00M | $1.00M |
| TVL high | $3.88M | $3.89M | $4.00M | $4.00M | $4.28M | $4.28M |
| Share price start (USDS) | 110.9793 | 110.3704 | 108.6961 | 104.9659 | 100.0000 | 100.0000 |
| Share price end (USDS) | 111.0252 | 111.0252 | 111.0252 | 111.0252 | 111.0252 | 111.0252 |
| Period data availability | 8 days | 32 days | 91 days | 181 days | 295 days | 295 days |
| Period start | 2026-06-17 | 2026-05-25 | 2026-03-26 | 2025-12-26 | 2025-09-03 | 2025-09-03 |
| Period end | 2026-06-24 | 2026-06-24 | 2026-06-24 | 2026-06-24 | 2026-06-24 | 2026-06-24 |
Technical Details
| Vault name | ETH Strategy Perpetual Note |
| Vault address | 0xb250c9e0f7be4cff13f94374c993ac445a1385fe |
| Chain | |
| Denomination | |
| Share token | ESPN |
| Protocol | ETH Strategy |
| Homepage | View vault on protocol website |
| Current TVL | 3,880,284.875 USDS |
| Peak TVL | 4,276,143.196 USDS |
| Last share price | 111.025 USDS |
| Last updated | |
| Last updated block | 25,390,201 |
| Data refreshed at | |
| Data starts | 2025-09-03 00:00:00 UTC |
| Fee mode | Feeless |
| Fees internalised | Yes |
| Features | eth_strategy_like |
| Flags | --- |
| Deposit status | Open |
| Redemption status | Open |
| Deposit/redemption events | 306 |
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