Day of 2026-04-05: 🚪, Uncertainty & controlled Exposure

Rotation Phase: sRWAs now swappable to $ACE

All sRWAs are now eligible to be swapped into $ACE.

This introduces a new exit path, but also uncertainty. When a system pivots from yield mechanics to conversion mechanisms, the underlying assumptions change:

• Yield expectations are replaced by redemption assumptions

• Value becomes dependent on the receiving asset ($ACE)

• Liquidity and trust shift to a new layer

At this stage, the direction of this transition remains unclear. The mechanism exists, but the outcome is still uncertain.

Exit sRWAs

The plan is to exit all sRWAs over the coming weeks, reducing exposure to a minimum. Execution will likely be gradual to avoid unnecessary slippage and to maintain flexibility.

This is not a full withdrawal from the market, but a targeted de-risking:

• Reduce dependency on changing product structures

• Avoid prolonged uncertainty during transition phases

• Reallocate capital once clearer opportunities emerge

Portfolio Snapshot (4 Apr → 5 Apr 2026)

Balance Comparison

The portfolio shows early-stage rotation, rather than full reallocation.

Daily Volume Landscape

Liquidity Notes

• SURGE and SOL dominate volume, forming a liquidity core

• Remaining assets operate in thinner markets