ETH Strategy Perpetual Note
View on ETH Strategy Update info🏆
- #705 overall
- #412 on
- #1 on
Share token price
1M return (ann)
▲ 2.5%
Total value locked
$3.9M
peak $4.3M
3M Sharpe
7.0
3M volatility
0.9%
Other metrics
3M Sharpe
7.0
3M volatility
0.9%
Age
0.9 years
0.0%
Protocol Technical Risk
Lockup period
Unknown
Denomination
Returns and fees
| 1M | 3M | 6M | 1Y | Lifetime | |
|---|---|---|---|---|---|
| Gross Gross | 2.5% | 6.1% | 10.9% | 13.0% | 13.0% |
| Performance fee Performance | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Management fee Management | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Deposit fee Deposit | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Withdrawal fee Withdrawal | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net Net | 2.5% | 6.1% | 10.9% | 13.0% | 13.0% |
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 | --- | #705 | #276 | #110 | #95 | #110 |
| Ranking on Ethereum | --- | #412 | #142 | #45 | #31 | #33 |
| Ranking on ETH Strategy | --- | #1 | #1 | #1 | #1 | #1 |
| CAGR (net) | 0.0% | 2.5% | 6.1% | 10.9% | 13.0% | 13.0% |
| CAGR (gross) | 0.0% | 2.5% | 6.1% | 10.9% | 13.0% | 13.0% |
| Returns (net) | 0.0% | 0.2% | 1.5% | 5.2% | 11.2% | 11.2% |
| Returns (gross) | 0.0% | 0.2% | 1.5% | 5.2% | 11.2% | 11.2% |
| Sharpe ratio | 0.00 | 7.24 | 7.01 | 6.83 | 6.95 | 6.95 |
| Max drawdown | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Volatility | 0.0% | 0.3% | 0.9% | 1.7% | 2.4% | 2.4% |
| TVL low | $3.88M | $3.88M | $3.88M | $3.78M | $1.00M | $1.00M |
| TVL high | $3.88M | $3.88M | $3.90M | $4.00M | $4.28M | $4.28M |
| Share price start (USDS) | 111.2016 | 110.9793 | 109.5937 | 105.6697 | 100.0000 | 100.0000 |
| Share price end (USDS) | 111.2016 | 111.2016 | 111.2016 | 111.2016 | 111.2016 | 111.2016 |
| Period data availability | 8 days | 31 days | 91 days | 181 days | 319 days | 319 days |
| Period start | 2026-07-11 | 2026-06-18 | 2026-04-19 | 2026-01-19 | 2025-09-03 | 2025-09-03 |
| Period end | 2026-07-18 | 2026-07-18 | 2026-07-18 | 2026-07-18 | 2026-07-18 | 2026-07-18 |
Technical Details
| Vault name | ETH Strategy Perpetual Note |
| Vault address | 0xb250c9e0f7be4cff13f94374c993ac445a1385fe |
| Chain | |
| Denomination | |
| Exchange rate used | 1 USDS = $0.999832 fetched |
| Share token | ESPN |
| Protocol | ETH Strategy |
| Homepage | View vault on protocol website |
| Current TVL | 3,878,653.629 USDS |
| Peak TVL | 4,276,143.196 USDS |
| Last share price | 111.202 USDS |
| Last updated | |
| Last updated block | 25,558,835 |
| 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 | 337 |
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