L2 DeFi narrative portfolio: YTD performance vs BTC and ETH (March 2023)
Quote74 words
Bullish call$VELO−80%since this piece, moved against the call · 6 more callsHow it played out ↓Performance update on the author's L2 DeFi basket with changes made and YTD returns, contrasted with BTC, ETH and MATIC to argue for a clear thesis and conviction.
Key claims
YTD: VELO +617%, PLS +414%, KWENTA +368%, MUTE +291%, MAGIC +234%
Benchmarks YTD: BTC +70%, ETH +50%, MATIC +50%
Exited UMAMI (-46%), DXP and HERMES
performance update 1 (#L2 #DeFi) 📊💸
changes (at PNL) 🔁
- $UMAMI (-46%)
- $DPX (+31%)
- $DXP (-14%)
- $HERMES (-18%)
+ $VELA
performance (approx YTD) 📈
$VELO +617%
$PLS +414%
$KWENTA +368%
$MUTE +291%
$MAGIC +234%
$TETHYS +144%
$GNS +132%
$LYRA +92%
$KROM +37%
$VELA +29%
shows the importance of a clear investment thesis and having conviction 📚🔍
YTD performance for reference 🚀
- $BTC +70%
- $ETH +50%
- $MATIC +50%
QUOTING @zerokn0wledge_
🚨 alpha saturday bag reveal 💰 two narrative portfolios I built over the past few weeks 📈🚀 L2 DeFi 📊 $MAGIC $MUTE $LYRA $KROM $UMAMI $DPX $KWENTA $PLS $GNS $VELO $DXP $TETHYS $HERMES Artificial Intelligence 🤖 $FET $OCEAN $NMR $CTXC $AGIX $ORAI $PHB $JAR $AIRI
🚨 alpha saturday bag reveal 💰 two narrative portfolios I built over the past few weeks 📈🚀 L2 DeFi 📊 $MAGIC $MUTE $LYRA $KROM $UMAMI $DPX $KWENTA $PLS $GNS $VELO $DXP $TETHYS $HERMES Artificial Intelligence 🤖 $FET $OCEAN $NMR $CTXC $AGIX $ORAI $PHB $JAR $AIRI
How the calls played out · since 22 Mar 2023
Prices as of 23 Oct 2026This piece takes a view on $VELO, $PLS, $MUTE, $MAGIC, $GNS, $LYRA, $KROM, so those moves are read against the call.
$VELOVelodrome FinanceBullish thesis
−80%
Moved against the call · over 3.6 years
- At publication
- $0.17
- Now
- $0.0348
- vs BTC
- −93%
- After 1 month
- −12%
- After 3 months
- −48%
- After 1 year
- −47%
- High since
- +112% 29 Mar 2024
- Low since
- −93% 07 Jun 2026
−99.8%
Moved against the call · to 13 Jun 2026, when trading data ends
- At publication
- $1.32
- Last trade
- $0.00256
- vs BTC
- −99.9%
- After 1 month
- −37%
- After 3 months
- −75%
- After 1 year
- −94%
- High since
- 0.0% 22 Mar 2023
- Low since
- −99.8% 13 Jun 2026
$MUTEMuteBullish thesis
−100.0%
Moved against the call · over 3.6 years
- At publication
- $1.22
- Now
- $0.000122
- vs BTC
- −100.0%
- After 1 month
- −21%
- After 3 months
- −56%
- After 1 year
- −64%
- High since
- +42% 24 Mar 2023
- Low since
- −100.0% 07 Jun 2026
$MAGICTreasureBullish thesis
−95%
Moved against the call · over 3.6 years
- At publication
- $1.93
- Now
- $0.0932
- vs BTC
- −98%
- After 1 month
- −34%
- After 3 months
- −58%
- After 1 year
- −43%
- High since
- 0.0% 22 Mar 2023
- Low since
- −98% 13 Aug 2026
−95%
Moved against the call · over 3.6 years
- At publication
- $8.32
- Now
- $0.455
- vs BTC
- −98%
- After 1 month
- −19%
- After 3 months
- −50%
- After 1 year
- −39%
- High since
- 0.0% 24 Mar 2023
- Low since
- −96% 13 Oct 2026
$LYRALYRABullish thesis
−99.9%
Moved against the call · since it listed on 27 Jan 2025, 22 months after this piece
- At listing
- $0.0036
- Last trade
- $0.00000469
- vs BTC
- −99.8%
- After 1 month
- +5.8%
- After 3 months
- −25%
- After 1 year
- −78%
- High since
- +62% 23 Feb 2025
- Low since
- −99.9% 02 Aug 2026
$KROMKromatikaBullish thesis
−94%
Moved against the call · over 3.6 years
- At publication
- $0.0735
- Now
- $0.00427
- vs BTC
- −98%
- After 1 month
- −31%
- After 3 months
- −65%
- After 1 year
- −45%
- High since
- 0.0% 22 Mar 2023
- Low since
- −99% 22 May 2026
No reliable price feed for $KWENTA, $TETHYS, $VELA.
Since then
Zero has written 1 more piece on $GNS and $KWENTA and $PLS since this one.
- Plutus DAO: governance aggregator on Arbitrum, the Convex of ARBBullish call on $PLS
Daily closes in USD from DefiLlama and Yahoo Finance. Only a bullish or bearish thesis is read as a call; explainers, maps and mentions are context. Not financial advice.