Dragonfly Capital Partners, LLC

You don't have the same kind of rights that an equity holder does.

And recently, back in July, I believe, they had a $65 million seed round valued at a billion dollars led by Coinbase Ventures and Dragonfly.

where now they have outside equity holders.

And a lot of companies and a lot of crypto companies that would pose a conflict because in a lot of situations, now you have equity holders and you have token holders.

And when the company generates revenue, where does that revenue go, right? Which party receives that? And in many cases, it's a zero-sum game.

The good thing with this situation is, I heard a podcast with Haseem from Dragonfly.

When they were setting up the funding, they actually made concessions, he said, so they could receive tokens as well as equity because they were so bullish on the token and the value accrual mechanisms.

So the VC investors are aligned with the token holders as well as the equity.

...

when Dragonfly came, um, when, uh, the Binance Labs, uh, also agreed to lead the round, and Libertus Capital and, and, um, and, and Greenfield, for example, from Germany as well.

Huge value adds investors, backers, and, uh, they helped us out, uh, me personally.

So I was able to move into a, a proper apartment, uh, with three rooms.

Half one, a DAO can be a general partnership under California law.

Paradigm, Andreessen Horowitz, Dragonfly, Dolphin CL, all four kept in the case to face that theory.

Half two protects Robot Ventures, alleged only to have bought and held tokens, was dismissed.

Merely holding a governance token is not partnership.

Um, but I, I think the, uh, on the AI side, I was actually, to your point, um, so like I'm, I'm an LP in a number of other funds because I, you know, to diversify my exposure.

That's because, you know, the vast majority of my, my wealth is in Dragonfly.

Uh, and-

Dude, you're, you're, you're like the s- you're like the Snowflake sales guy.

Yeah.

Um, and I think that's where a lot of the capital, the new fundraises will come from late stage.

So, um, actually, Omar, who was at Dragonfly before, just went to Brevan, and his job title, I saw on Twitter, is Head of Growth Investments.

Yep.

Hello, everyone, and welcome to the Index Podcast, where we come together every couple of weeks to discuss on-chain data, chart crimes, and metrics that move the crypto industry.

Today, myself, Hildar B., resident data house elf at Dragonfly, will be joined by my co-host, Danning, chief on-chain sleuth at Pentera Capital.

Hi.

As well as our guest of the day, Melesh Pai, recovering economist at Tempo.

To me, it looked like he was trying to inverse bra some guy by posting stats that you know that everybody's been calling out as fake for the last couple weeks or months.

Even, uh, one of the partners, Tom Schmidt at Dragonfly, has been, like, kinda going at it with, with Kaoshi on the timeline of, like, you know, like, this isn't the first time that has been brought up that they did whatever, half a billion dollars in volume on, like, $3 million of open interest, and, like, the largest open position is, like, $100,000.

Like, come on.

You know what I mean? Like, come on.