Portfolio update

I recently joined the Dash Retreat 2023 in Salt Lake City and gave a presentation on the state of affairs at the DIF. If you weren’t there, here is a recording:

It begins with a quick recap of the reasons for establishing the DIF, its early history and organizational structure. For everybody following us for a while, the more interesting part starts around 10:50 min – an update on our assets.

Maya Liquidity Pool

We helped kickstart the Dash liquidity pool on the Maya network on Sep 20, which absorbed the majority of our liquid assets. The funding transaction is here:

Since then we rode up the phenomenal price increase of the CACAO token, which went from ca. $0.10 at the time of our funding to $0.93 as of today. Because of the way liquidity pooling works and since Dash itself didn’t see quite the same rise, the Dash side of our pool went from 950 to 2532 Dash to keep the total value balanced. As of writing this, our funds on the Maya chain are worth about $174k:

That’s an excellent result so far, but keep in mind that this is a very volatile market and the numbers could easily reverse just as quickly. There is also not a very liquid market for CACAO, so even trying to cash out would likely incur significant slippage. Since the DIF is not in the trading business, we’re looking at this as providing a service to the Dash network and will keep the pool going in the foreseeable future.

Investment Portfolio

Here is the overview table from the video at 36:47 min:

InvestmentsAt cost (USD)Estimated
CrayPay / Ionia300,0151,760,000
Edge Wallet300,000300,000
Ready Raider50,0000

I’m going over several of these listings in detail in my presentation, especially those where we observed updated valuations in later financing events that allow us to provide a more up to date estimate of our own share value. I’m not going to repeat everything here, if you want to know the details, including if and how we may divest from Ionia and Valkyrie and much more, please watch the video.

Suffice to say at this point, the estimated total value of our assets as of my September presentation is about $3.35 million. Compared to the current USD value of all the Dash we have ever collected from the treasury of a bit over $400k, this represents a growth of over 8 times.

Again a word of caution, this is unrealized gain. At what value we will actually be able to exit our holdings remains to be seen and it could differ significantly from the numbers presented here. In any case, we are proud of our achievement so far and have all reason to be optimistic about 2024!

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