Venture-Liquid
VENTURE-LIQUID
Vetted early-stage token positions — bringing traditional VC's "odds-seeking" logic into 24/7-liquid on-chain token markets, bounded by lockup and a dedicated reserve.
Transparency
Some execution / positions are on-chain (verifiable); the rest is handled by off-chain systems (signalled only via the reporter).
The integrator has self-reported a transparency tier; community verification is not yet complete. Treat this assessment as preliminary.
Token positions are on-chain visible, but the selection methodology and DD framework are the fund's private alpha.
Rating
Rating data is being prepared.
Venture-Liquid brings traditional VC's "odds-seeking" logic (a few names pull the portfolio 10–100x) into on-chain token markets — without descending into "meme-buying narratives". Each candidate passes four review gates: on-chain issuance mechanics, security audit, liquidity depth, team background. Pass rate <15%. Lockup + dedicated reserve are mandatory safety buffers.
Due diligence
DUE DILIGENCETeam background · token economics (unlock curve, circulating ratio) · contract audit · liquidity (sustained CEX/DEX depth) · governance transparency
Sizing
SIZINGPer position ≤ 5% sleeve · top-5 concentration ≤ 50% · DCA build over 4–8 weeks · partial lockup 6–12 months
Exit & risk
EXIT & RISKPhased exits (never all-at-once) · position -50% → governance review · blacklist: rugpull / team disappearance / major contract change
| POLICY | FIT | SUGGESTED WEIGHT (BPS) | NOTES |
|---|---|---|---|
| Vendor Policy | ★ Required | 500–1500 | Needs custom lockup + dispersion constraint |
| KellyPolicy | △ Caution | 300–800 | Fractional Kelly struggles with high dispersion |
| ThreePoolPolicy | ✗ Incompatible | — | Three-pool requires stable PnL; conflicts with Venture's nature |
Venture-Liquid requires the Custody layer to support a whitelisted token registry (not USDC-only) and the Risk Layer's EmergencyController to support a special lockup-exempt path. Both are extensions beyond fund-vault MVP, requiring a Vendor Policy that ships matching contract PRs.
VentureLiquidStrategy.sol reserves a token-whitelist interface and lockup timestamp accounting — both governance-approved. The skeleton does not implement the review framework (this is the fund's alpha source); it only provides the minimal engineering surface of onlyVault / lockupUntil / token whitelist.
For funds in setup: Venture-Liquid is not suitable as a main sleeve — too dispersed, with uncontrolled liquidity. But as a 5–15% alpha sleeve (paired with Vendor Policy's custom covariance and a dedicated reserve), it gives the fund "long-tail hit rate". This is alpha that belongs to the fund operator, beyond the F* protocol layer — the protocol only provides tools (whitelist / lockup), not picking methodology.
Backtest
NAV trajectory (1 year)
2025-06-01 → 2026-06-01Drawdown
Simulator
This simulator uses synthetic backtest data and is not investment advice; actual performance may differ materially.
Skeleton contract · undeployed · early-token adapter with lockup and whitelist