Summary
This proposal seeks to increase the allocation to the Morini StockMarketTRBasisTrade Vault within the USP reserve backing framework. The adjustment reflects the vault’s strong recent performance and its role as a market-neutral, yield-generating strategy within the USP reserve portfolio.
Rationale
Since its inclusion in USP backing, the Morini StockMarketTRBasisTrade Vault has delivered strong performance over the past two weeks, demonstrating the effectiveness of its regulated delta-neutral basis trading strategy. The vault continues to generate attractive risk-adjusted returns by capturing pricing discrepancies between Turkish cash equities and Single Stock Futures (SSF), while maintaining fully hedged equity and currency exposure.
Based on this performance, this proposal increases the reserve backing allocation from 10% to 25%, allowing USP to expand its exposure to a strategy that has proven both capital-efficient and resilient under current market conditions.
In parallel, the proposal also increases the maximum allowance from 20% to 30%, providing additional flexibility for future allocation decisions should the strategy continue to perform well. This change does not require the maximum allocation to be utilized immediately, but enables the DAO to respond more efficiently to favorable market opportunities.
Increasing exposure to the Morini StockMarketTRBasisTrade Vault further strengthens USP’s reserve portfolio by allocating more capital to a transparent, regulated, and market-neutral strategy while maintaining prudent risk management and diversification principles.
USP Reserve Backing Max Allowance Addition
| Rate | Crypto | Type | Details |
|---|---|---|---|
| 30% | Morini StockMarketTRBasisTrade Vault | On Chain | Piku Finance - The institutional gateway to global yield |
USP Reserve Backing Distribution – Pre Proposal
| Rate | Crypto | Type | Details |
|---|---|---|---|
| 45% | Morini FXArbUSDTRY Vault | On Chain | Piku Finance - The institutional gateway to global yield |
| 25% | Staked USDx | On Chain | https://www.axis.to/ |
| 10% | Brix Money wiTRY | On Chain | https://brix.money/ |
| 10% | Morini StockMarketTRBasisTrade Vault | On Chain | Piku Finance - The institutional gateway to global yield |
| 10% | Tori Finance Upshift Vault | On Chain | https://tori.finance/ |
USP Reserve Backing Distribution – Post Proposal
| Rate | Crypto | Type | Details |
|---|---|---|---|
| 45% | Morini FXArbUSDTRY Vault | On Chain | Piku Finance - The institutional gateway to global yield |
| 25% | Morini StockMarketTRBasisTrade Vault | On Chain | Piku Finance - The institutional gateway to global yield |
| 10% | Staked USDx | On Chain | https://www.axis.to/ |
| 10% | Brix Money wiTRY | On Chain | https://brix.money/ |
| 10% | Tori Finance Upshift Vault | On Chain | https://tori.finance/ |