2/4 — LP Performance
mTLP returned -1.84% — vs ~-11.6% for a direct SUI hold.
With SUI at just 12.8% of the basket (down from 25.9% last week), the USDC-heavy composition did its job:
- Basket drag: -2.29%
- Counterparty gains: +0.41%
- Fee income: +0.04%
Alpha vs basket: -0.36%. 30-day cumulative: +1.50% with a Sharpe of 1.50.
iTLP-TYPUS posted -13.00% — unusual for a 100% USDC pool. Worth watching.
