Targeting blockchain scalability through modular architectures in execution layers, data availability networks, and Bitcoin L2s. Core holdings emphasize specialized protocols with under $1B FDV and proven validator traction.
With Ethereum L2 TVL surging 217% YoY and Bitcoin L2s gaining regulatory clarity, modular architectures solve critical scalability constraints. This strategy targets three verticals: Hyperliquid’s orderbook-focused execution layer, Celestia’s data availability network, and Stacks’ Bitcoin-secured smart contracts – all trading below $1B fully diluted valuations.
Context
The 2021 L1 wars demonstrated modular chains like Ethereum (post-Merge) outperforming monolithic chains by 3.8x ROI. Current TPS bottlenecks (Ethereum at 15 vs Solana’s 2,000+) and $150+ NFT minting fees demand specialized solutions.
Strategy Explanation
Allocate 65% to execution layers (Hyperliquid/Eclipse) optimizing DeFi throughput, 30% to data availability providers (Celestia/Avail) reducing storage costs by 94%, and 5% to shared security protocols like EigenLayer. Satellite exposure targets Bitcoin L2 adoption via STX.
Token Targets
- Core (90%): Hyperliquid (40%), Eclipse (25%), Celestia (20%), Avail (10%), EigenLayer (5%)
- Satellite (5%): STX/MUBI basket
- Cash Reserve: 5% for protocol upgrades
Expected Returns & Risks
68-140% upside through 2025 halving cycle vs 35-60% for generic L1s. Key risks include delayed ZK-proof integrations (40% probability) and SEC action against BTC L2s (25% probability). Diversification across tech stacks mitigates single-point failures.
Exit Signals
- Celestia TPS sustaining >8,000 (current: 1,200)
- Hyperliquid TVL crossing $1.2B (current: $380M)
- BTC L2 cumulative addresses >4.5M (current: 1.2M)
