It has been well over a year and a half since I wrote a pre-mint introduction to Droid, and time has absolutely flown by! In the Solana community, we have experienced a particularly tough bear market through this time, with SOL falling to $8, projects leaving the ecosystem, the FTX collapse, SOL deemed a security, and apparently the worst phone of 2023? (BULLISH) However, recent months have appeared to turn the tide in favour of Solana, with numerous airdrops, sharp increases in DE-FI activity and TVL, and a considerable flow of users and capital from ETH over to SOL. It seems to me that Solana’s future is appearing brighter than ever, which is reflected in the price of $SOL at $110, a 14x increase since the bear-market low.
With this in mind, it may come as no surprise that the team at Droid have been working meticulously hard over this period, in order to prepare for the upcoming bull market, and position Droid Capital perfectly for the heightened interest and excitement that this phase inevitably brings. In this thread, I aim to detail and explain the most notable updates to the project, and what they could mean for Droid in the future. Whilst I will try my best to inform you the reader, I am by no means a DAO leader / HQ, so please do join the discord with any questions you may have. (linked below).
Since its inception, the DAO has invested in numerous VC deals, as stated in the whitepaper previous to the mint. These investments include the following:
Total Cost = $150k Current Value = $194k
Unrealised Profit = $44k
The most notable of the VC investments must be the $20k into Crossfund, the largest investment platform across the emerging markets, specifically in Asia. Droid’s initial backing of $20k has done a 4.5x already, and is looking very promising. As some of you may know, Cypher was unfortunately the victim of a hacker, who managed to compromise the protocol and drain funds. This is particularly frustrating, as it was a super promising project, with plenty of institutional interest behind it. Whilst the DAO has valued its Cypher position at $0, there is still a small chance it could make a recovery, although I must say it is unlikely. These events are very much natural in VC investing, and the fact that the treasury is still increasing despite this, is a testament to Droid.
The DAO has also been picking up spot BTC/SOL/ETH throughout, and depositing it into the Droid-FI vaults, developed by Sun Invest, one of the VC investments detailed above. I will elaborate further on Droid-FI a little later on. These holdings will most likely continue to increase, giving the treasury plenty of exposure to the upswings that have occurred already, and that will continue as we venture through the bull market.
Bare in mind that the DAO was buying $ETH at $1500, $BTC in the $20ks, and $SOL in the $20's too. With the treasury increasing $110,000 in the month of November, when $SOL sat at $60, you can imagine how juicy the next report will look at the end of December!
The treasury also consists of numerous other NFTs and cryptocurrencies which I won’t go into detail about, but are disclosed in the file below. I have also created a chart illustrating the treasury value since inception, in order to help visualise where things stand today in comparison to the beginning. It’s worth pointing out that during the bear market, Droid’s treasury fell just under 20% from the starting figure, whilst most coins fell in excess of 90%. This exceptional risk management is a key-part to Droid’s success, and puts the project in a perfect position going forward.