$DRAMA
token pDRAMAcoming soonsemismemoryfoundryai-capexMemory & Foundry
Every AI capex dollar ends in a DRAM chip or a fab. Micron and SanDisk for the memory, Intel for the foundry, Nvidia and AMD for the GPUs that eat them — tilted by hyperscaler capex guidance.
- NAV (indexed)
- 95.66
- 24h
- +5.76%
- 7d
- −8.28%
- 30d
- −4.34%
- 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% | $979.21 | +5.84% | $2.89M | Backpack Securitiesshare-redeemable | Tier 2 | MUxE…Gay1 |
| 20.0% | $1,603.46 | +5.36% | $401.0K | Backpack Securitiesshare-redeemable | Tier 3 | SNDK…RhfH | |
 NVDANVIDIA | 20.0% | $220.67 | +3.75% | $4.42M | xStockscash-redeemable | Tier 2 | Xsc9…9qEh |
 INTCIntel - Backpack Securities | 15.0% | $109.33 | +8.06% | $73.3K | Backpack Securitiesshare-redeemable | Tier 3 | iNTC…xFaF |
 AMDAdvanced Micro Devices - Backpack Securities | 15.0% | $543.98 | +6.48% | $170.1K | Backpack Securitiesshare-redeemable | Tier 3 | AMD8…jeES |
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%; SNDK: 20%; NVDA: 20%; INTC: 15%; AMD: 15%
- tilt
- memorySleeve *= clamp(totalCapexBn/600, 0.8, 1.3); NVDA, INTC and AMD absorb the remainder pro rata
- memorySleeve
- MU, SNDK
- Rebalance
- monthly, or when any holding drifts more than 500 bps from target
- Max trade
- $50,000 per swap, Jupiter routed
- Denomination
- USDC (EPjF…Dt1v)
Oracle marks
The vault values each holding off a Pyth push feed on Solana. Proxies are stated; the Voltr Spot adaptor does not check that a feed matches a mint, the keeper does.
- MU
- Equity.US.MU/USD on shard 1: third-party pushed every ~12 s during US market hours (Pyth stopped sponsoring Crypto.MUX/USD on 12 Sep 2026); Backpack Securities token tracks the MU share 1:1
- SNDK
- Equity.US.SNDK/USD on shard 1: third-party pushed every ~12 s during US market hours (Pyth stopped sponsoring Crypto.SNDKX/USD on 12 Sep 2026); Backpack Securities token tracks the SNDK share 1:1
- NVDA
- Equity.US.NVDA/USD on shard 1: third-party pushed every ~12 s during US market hours (Pyth stopped sponsoring Crypto.NVDAX/USD on 12 Sep 2026); xStocks token tracks the NVDA share 1:1
- INTC
- Equity.US.INTC/USD on shard 1: third-party pushed every ~12 s during US market hours (Pyth stopped sponsoring Crypto.INTCX/USD on 12 Sep 2026); Backpack Securities token tracks the INTC share 1:1
- AMD
- Equity.US.AMD/USD on shard 1: third-party pushed every ~12 s during US market hours (Pyth stopped sponsoring Crypto.AMDX/USD on 12 Sep 2026); Backpack Securities token tracks the AMD share 1:1
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
- $50,000 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.
- Thin books, capped legs. AMD (max $5,000 per leg): 0.6% price impact at $5k on the composable router; legs capped at $5,000. The keeper also skips any leg quoted above 60 bps of price impact, so these positions fill over several rebalances rather than in one.
- 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.