$DRAMA
token pDRAMAlaunchingsemismemoryai-capexdeep-liquidityMemory Supercycle
Every AI capex dollar ends in a DRAM chip. Own the bottleneck — Micron, SK Hynix, SanDisk and the GPU that eats them — tilted by hyperscaler capex guidance.
- NAV (indexed)
- 115.31
- 24h
- −2.40%
- 7d
- −7.11%
- 30d
- −0.54%
- TVL
- —
- Holdings
- 5
Indicative NAV, 30 days
Constant-mix index: target weights rebalanced daily, indexed to 100 at the start of the window, from daily closes of each constituent's primary on-chain variant (tokens.xyz OHLCV; CoinGecko for Solana-native tokens). Holdings without history are excluded and weights renormalised. This is not the vault's realised NAV and does not include fees or rebalance slippage.
Holdings
| Holding | Weight | Price | 24h | Liquidity | Issuer | Trust | Mint |
|---|---|---|---|---|---|---|---|
 MUMicron Technology - Backpack Securities | 30.0% | $927.30 | −2.22% | $1.65M | Backpack Securitiescash-redeemable | Tier 3 | MUxE…Gay1 |
| 25.0% | $176.31 | −3.13% | $1.91M | Backpack Securitiesshare-redeemable | Tier 2 | SKHY…9EQ3 | |
| 15.0% | $1,555.87 | −1.61% | $359.1K | Backpack Securitiesshare-redeemable | Tier 3 | SNDK…RhfH | |
| 15.0% | $55.17 | −3.01% | $143.1K | Backpack Securitiesshare-redeemable | Tier 3 | DRAM…Y4Cw | |
 NVDANVIDIA | 15.0% | $212.02 | −1.73% | $4.26M | xStockscash-redeemable | Tier 2 | Xsc9…9qEh |
Weighting methodology
Fixed weights with a capex tilt. A hand-set base book is scaled by hyperscaler capex guidance (updated each earnings season): more capex, bigger memory sleeve; the GPU absorbs the remainder.
- Data source
- hand-maintained research/raw/ds/capex_guidance.json (AMZN 200, MSFT 190, GOOGL 190, META 135, ORCL 50 = $765B FY2026 guidance, updated each earnings season)
- baseWeights
- MU: 30%; SKHY: 25%; SNDK: 15%; DRAM: 15%; NVDA: 15%
- tilt
- memorySleeve *= clamp(totalCapexBn/600, 0.8, 1.3); NVDA absorbs the remainder
- memorySleeve
- MU, SKHY, SNDK, DRAM
- Rebalance
- monthly, or when any holding drifts more than 500 bps from target
- Max trade
- $75,000 per swap, Jupiter routed
- Denomination
- USDC (EPjF…Dt1v)
Rebalance log
No rebalances logged yet. The keeper starts once the vault is funded.
- Cadence
- monthly
- Drift trigger
- 500 bps from target on any holding
- Max trade
- $75,000 per swap, routed by Jupiter
Risks
- Issuer risk. Each holding is a token issued by a third party (Backpack Securities, xStocks). If an issuer fails, freezes, or de-pegs, the basket eats it. Trust tiers come from tokens.xyz and are not a guarantee.
- Liquidity risk. Rebalances and redemptions route through on-chain pools. Thin liquidity means slippage, and slippage is paid by the basket.
- Smart-contract risk. Voltr vault program, Jupiter, the token programs of every issuer and the keeper's keys. Any of them can fail.
- Jurisdiction. Tokenized securities are restricted in the US, UK and elsewhere. Issuers may freeze tokens held by ineligible persons. Check before you buy.
- Tracking. The basket does not track a published index. It tracks its own rules, imperfectly, after fees and slippage.
Not investment advice. You can lose everything, including the part you thought was gold.