Report - 06/10/2023

Report on Rasa Group's Performance as the First LP on SYMMIO Prepared & verified by Lafachief, data provided by Rasa.

Introduction:

Rasa, has been an integral collaborator for the past 10 months. This article is meant to present a snapshot of their performance over the last 25 days, offering another transparent look into their trading activities and the potential of our platform. Disclaimer: Rasa Capital has graciously agreed to share insights into their trading activities. It's essential to note that not all Market Makers on SYMMIO may choose to do so. The information provided is purely for informational purposes.

Performance Overview:

Field	Data
Days operated	25 (09/11/2023 - 10/06/2023)
Price premium charged	6 bps (0.0006 or 0.06%)
Average deposits	$412,979.23
Projected Profits Achievable: (After implementing funding and improved hedging engine)	$37,981.35
Average Profit per day optimal:	$1768.12
Achieved Profits (Liquidation & Pricing Premium):	$24,636.82
Total ROI achieved for 25 days:	7.24%

Summary of Rasa Group's Performance from 11/09/2023 to 06/10/2023

The table below provides a day-by-day breakdown of Rasa Group's balances, average daily profit, average daily APR, and average daily return (by taking total profits and dividing them over the total days compared to the relative deposit at that time).

|--------------------------|-------------|
| Starting Date            | 11/09/2023  |
| Ending Date              | 06/10/2023  |
| Initial Balance          | 149,974     |
| Final Balance            | 574,100.0431|
| Consistent Profit        | 985.4728    |
| max APR (Date)           | 239.84% (11/09/2023 & 12/09/2023) |
| min APR (Date)           | 62.65% (06/10/2023)               |
| max Return (Date)        | 0.66% (11/09/2023 & 12/09/2023)   |
| min Return (Date)        | 0.17% (06/10/2023)                |
| Average APR              | 105.70%     |
| Return on Investment     | 7.24%       | average


| Date       | Balance      | Profit   | APR     | Return |
|------------|--------------|----------|---------|--------|
| 11/09/2023 | 149,974      | 985.4728 | 239.84% | 0.66%  |
| 12/09/2023 | 149,974      | 985.4728 | 239.84% | 0.66%  |
| 13/09/2023 | 284,999      | 985.4728 | 126.21% | 0.35%  |
| 14/09/2023 | 324,379.04   | 985.47   | 110.89% | 0.30%  |
| 15/09/2023 | 324,379.04   | 985.47   | 110.89% | 0.30%  |
| 16/09/2023 | 324,379.04   | 985.47   | 110.89% | 0.30%  |
| 17/09/2023 | 324,379.04   | 985.47   | 110.89% | 0.30%  |
| 18/09/2023 | 362,098.04   | 985.47   | 99.34%  | 0.27%  |
| 19/09/2023 | 362,098.04   | 985.47   | 99.34%  | 0.27%  |
| 20/09/2023 | 362,098.04   | 985.47   | 99.34%  | 0.27%  |
| 21/09/2023 | 362,098.04   | 985.47   | 99.34%  | 0.27%  |
| 22/09/2023 | 362,098.04   | 985.47   | 99.34%  | 0.27%  |
| 23/09/2023 | 362,098.04   | 985.47   | 99.34%  | 0.27%  |
| 24/09/2023 | 362,098.04   | 985.47   | 99.34%  | 0.27%  |
| 25/09/2023 | 362,098.04   | 985.47   | 99.34%  | 0.27%  |
| 26/09/2023 | 362,098.04   | 985.47   | 99.34%  | 0.27%  |
| 27/09/2023 | 408,115.04   | 985.47   | 88.14%  | 0.24%  |
| 28/09/2023 | 510,115.04   | 985.47   | 70.51%  | 0.19%  |
| 29/09/2023 | 510,115.04   | 985.47   | 70.51%  | 0.19%  |
| 30/09/2023 | 530,115.04   | 985.47   | 67.85%  | 0.19%  |
| 01/10/2023 | 530,115.04   | 985.47   | 67.85%  | 0.19%  |
| 02/10/2023 | 530,115.04   | 985.47   | 67.85%  | 0.19%  |
| 03/10/2023 | 530,115.04   | 985.47   | 67.85%  | 0.19%  |
| 04/10/2023 | 530,115.04   | 985.47   | 67.85%  | 0.19%  |
| 05/10/2023 | 530,115.04   | 985.47   | 67.85%  | 0.19%  |
| 06/10/2023 | 574,100.04   | 985.47   | 62.65%  | 0.17%  |

Key Insights:
The balance started at 149,974 on 11/09/2023 and 
increased to 574,100.0431 by 06/10/2023.
The profit remained consistent throughout the period at 985.4728.
The max APR at 239.84% with a return of 0.66%.
The min APR  at 62.65% with a return of 0.17%.
The avg APR was 105.70% and the return was 7.24%

Optimized - APR Analysis:

Definitions:

• Projected APR: The estimated APR the hedger anticipates after funding was implemented (SYMM "v0.82") and the subsequent upgrade improving order management at Binance was deployed.

The variance in APR underscores the importance of efficiency and the capabilities of the hedger software. SYMMIO is designed to infinitely support and enhance market makers, emphasizing the continuous optimization of their systems for efficiency. Rasa Capital, in its 10-month journey with SYMMIO, has already pinpointed areas for improvement and has been proactive in system upgrades, resulting in higher APRs.

• Average Achieved APR over the last 25 days: 105.70%

• Upcoming Projected APR over the last 25 days: 162.95%

Profit Distribution Analysis:

A significant observation is the substantial profit derived from liquidations for Market Makers on SYMMIO.

• Funding Spreads (premiums charged via funding, Hedge vs Make): 10% of LP profits

• Price Spreads (premiums charged via pricing Hedge vs Make): 31.5% of LP profits

• Liquidations (profits from CVA and Liquidator bots): 57.7% of LP profits

CVA makes up most of the Solvers profits

In SYMMIO, the Market Maker requests a Collateral Value Adjustment (CVA) from the user. The MM matches this amount. If either side faces liquidation, the CVA is transferred to the other party to offset potential costs arising from the premature position closure due to insolvency.

However, MMs have the advantage. By optimizing their systems to swiftly react, selling hedges prematurely, or auto deleveraging, they can turn the CVA charged into pure profit. This profit mechanism is a distinctive feature for LPs on SYMMIO compared to being an MM on a Central Limit Order Book (CLOB) decentralized exchange.

Conclusion:

Rasa Capital's performance as the first LP on SYMMIO is a testament to the platform's potential and the benefits of continuous optimization. Their commitment to transparency and improvement sets a benchmark for future Market Makers on SYMMIO. We look forward to more collaborations and further advancements in the coming months.