Thanks for the very detailed and interesting report. I would like to provide a couple of comments.
First is that obtaining yield that outperforms stETH regularly or consistently is going to be very difficult, especially after the merge of ETH1 and ETH2, and the expected deflation of the ETH token. And especially if the aim is the benchmark for High Risk investments is stETH +10%. I am afraid that the mutual may end up taking too many risks. For example, I am not sure whether the target should be 25% allocation for investments in which the benchmark is ‘only’ 10% above stETH but max drawdown is 50%. That sounds too risky.
In my opinion, the strategies should be as simple as possible, and maybe just changing the weight between DAI and ETH following the main market trends, tracked by moving averages, can be extremely profitable.
Also, in the current situation in which wNXM is trading below book value, I think it would make a lot of sense to buy as much as wNXM as possible, until the price of wNXM matches book value, and if possible, I would like to see a proposal from the investment hub to approve this asap, since we don’t know how long this situation will last. This would be basically free money for the mutual, and could improve the price of the wNXM token, getting it closer to the value of NXM, which would also improve the perception of the mutual. It will not look ‘healthy’, as long as we have this discrepancy.