REJECTEDWALL #115
Sam Ikkurty
Posted April 14, 2026
PERMANENT LINKcftcsucks.com/115
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Five bullet Friday - Issue #80
Published on samikkurty.com | Five Bullet Friday Investor Update
Dear Partners,
Some of you must have received Schedule K-1 for 2020. I request you to discard them. There was an
error in the accounting for one of our positions. We will be sending the corrected Schedule K-1s shortly. Our
accountants are currently working on it.
1. I have also received a few questions if we sold our BADGER position. We have not sold any badger
tokens at all. They are posted as collateral in order to borrow USDC on Cream.finance site. When we post
badger as collateral, our Vault smartcontract gives us BBADGER tokens as a representation for our percent
ownership of the pool. These BBADGER tokens continue accrue income but can be used as collateral to
borrow. This transaction can be seen here. Our badger position is worth around $6.78 Million.
2. We continued to add to our KLON position.We hold 22,068 tokens as of now. We hold 22% of the
supply. In the last one week we have claimed our income from the month of february. This gave us 10.88425
KBTC tokens for the first time in this transaction. We claimed another 1.637511 KBTC tokens in the second
transaction as seen here. Our total income from February is 12.52176 KBTC tokens. This is reflected in our
Retained Earnings spreadsheet here.
3. Now KLON stabilization fund has grown in size to $8.5 million in a mere 1 month. This fund is a real
thing of beauty. It holds close to 200 bitcoins. As you can see, DIGG token is not holding its peg to bitcoin
at all. It has dropped to $30,000 while bitcoin is trading at $48,000. In contrast, KBTC is now trading at
close to $48,000. The circulating supply of KBTC as of now is, 222 tokens. This gives KBTC a market cap
of $10 million. We have 80% of KBTC market cap sitting in our stabilization fund to protect its peg.
Published on samikkurty.com | Five Bullet Friday Investor Update
Dear Partners,
Some of you must have received Schedule K-1 for 2020. I request you to discard them. There was an
error in the accounting for one of our positions. We will be sending the corrected Schedule K-1s shortly. Our
accountants are currently working on it.
1. I have also received a few questions if we sold our BADGER position. We have not sold any badger
tokens at all. They are posted as collateral in order to borrow USDC on Cream.finance site. When we post
badger as collateral, our Vault smartcontract gives us BBADGER tokens as a representation for our percent
ownership of the pool. These BBADGER tokens continue accrue income but can be used as collateral to
borrow. This transaction can be seen here. Our badger position is worth around $6.78 Million.
2. We continued to add to our KLON position.We hold 22,068 tokens as of now. We hold 22% of the
supply. In the last one week we have claimed our income from the month of february. This gave us 10.88425
KBTC tokens for the first time in this transaction. We claimed another 1.637511 KBTC tokens in the second
transaction as seen here. Our total income from February is 12.52176 KBTC tokens. This is reflected in our
Retained Earnings spreadsheet here.
3. Now KLON stabilization fund has grown in size to $8.5 million in a mere 1 month. This fund is a real
thing of beauty. It holds close to 200 bitcoins. As you can see, DIGG token is not holding its peg to bitcoin
at all. It has dropped to $30,000 while bitcoin is trading at $48,000. In contrast, KBTC is now trading at
close to $48,000. The circulating supply of KBTC as of now is, 222 tokens. This gives KBTC a market cap
of $10 million. We have 80% of KBTC market cap sitting in our stabilization fund to protect its peg.
4. I added a new column to the spreadsheet to track claimed income. Column B shows the cumulative value
of KBTC we received. Column C shows the total value of income claimed. This is 12.52 as of last week.
Column D shows the market price of KBTC. Column E, adds current income and claimed income then
subtracts the previous week's amount to calculate the income for the current week. Check the formula in
Excel. I calculate weekly income by multiplying our KBTC tokens we received with market price on Friday
in Column F. Column G shows the market price of KLON. Column H shows the number of tokens we
staked. Column I calculates the value of staked tokens in dollars by multiplying the F and G. Column J
calculates weekly yield by dividing the weekly income by the value of staked tokens. Column K simply takes
the Weekly yield and convert it to annual yield. Column L helps you verify the numbers based on a
screenshot. Once this protocol is integrated with Zapper you will be able to track our income directly on
Zapper or on Ethereum's blockchain.
5. Badger and YFI are collaborating together to increase the Total value locked in the smart contracts. YFI
has made major architectural changes and its effect will be felt very soon. At this point, it looks undervalued.
Our portfolio can be seen here: https://debank.com/profile/0xe787deec0be77db98a1294193e2c1600c8a8687d
Have a wonderful weekend!
Sam Ikkurty
Source: samikkurty.com | This document is part of the public record of the CFTC v. Ikkurty case.
of KBTC we received. Column C shows the total value of income claimed. This is 12.52 as of last week.
Column D shows the market price of KBTC. Column E, adds current income and claimed income then
subtracts the previous week's amount to calculate the income for the current week. Check the formula in
Excel. I calculate weekly income by multiplying our KBTC tokens we received with market price on Friday
in Column F. Column G shows the market price of KLON. Column H shows the number of tokens we
staked. Column I calculates the value of staked tokens in dollars by multiplying the F and G. Column J
calculates weekly yield by dividing the weekly income by the value of staked tokens. Column K simply takes
the Weekly yield and convert it to annual yield. Column L helps you verify the numbers based on a
screenshot. Once this protocol is integrated with Zapper you will be able to track our income directly on
Zapper or on Ethereum's blockchain.
5. Badger and YFI are collaborating together to increase the Total value locked in the smart contracts. YFI
has made major architectural changes and its effect will be felt very soon. At this point, it looks undervalued.
Our portfolio can be seen here: https://debank.com/profile/0xe787deec0be77db98a1294193e2c1600c8a8687d
Have a wonderful weekend!
Sam Ikkurty
Source: samikkurty.com | This document is part of the public record of the CFTC v. Ikkurty case.
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VERIFICATION RECORD
Submission trackF
StatusREJECTED
Posted2026-04-14T08:12:52.000Z
SHA-256 hash75eaa30df681af1af4cb430d8d89ff03ef9f12ae2e8b8007e4f1669e8f6132ea
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