Welcome to BlockHub DAO's 2022 Annual Report!

We are pleased to present an overview of our performance and activities over the past year. Despite the challenges posed by the bear market, we have remained focused on our mission of identifying and investing in the most promising projects in the crypto space.

In this report, you will find:

• An in-depth look at our investments and treasury

• A rundown of our most important votes

• An update on the evolution of our Discord community

Join us as we navigate the bear market and support innovation in crypto!

A Look Back on Our Greatest Hits

As we reflect on the past year, we're proud to highlight some of our biggest achievements and milestones:

Snapshot of Our Investment Portfolio

While the bear market presented some challenges for our investment portfolio, we are pleased to report that we have still managed to achieve strong results over the past year.

At the beginning of the year, our treasury stood at $489,000 and as of the end of the year, it has only dropped to $450,000.

Despite this decrease, we have still done particularly well compared to other classic VCs in the ecosystem. We believe that our rigorous due diligence process - we took our time to thoroughly evaluate each potential investment and ensure that it aligned with our risk tolerance and strategic goals - has helped to minimize our losses.

We are confident that our portfolio will grow and generate value for our members in 2023.

Here is a detailed breakdown of the composition of our portfolio:

Look Back on Our Key Decisions

As you know, 2022 wasn’t the easiest year to enter the VC world. But we made great key decisions such as:

Invest in a Limited Number Of Projects

In a bear market, cash is king. So, for us, it was either a "HELL YES" or a "NO". After a lengthy review of dozens of projects, we selected only four of them:

• Shutter Network: Solution aiming to fight against negative MEV (such as front-running) through an open-source and decentralised protocol. it can be integrated into existing applications, as well as layer 2 protocols, with plans to launch its own rollup in the future.

• Raremind: Platform that aims to reward chess players in tokens for playing on online and offline platforms, such as Chess.com and Lichess.org. It features a play-2-earn system, a marketplace for buying NFTs that correspond to openings/defenses/tactics, a leaderboard that ranks players based on in-game statistics, and a betting platform for official FIDE tournaments. Raremind wants to onboard as many players as possible and change their habits as little as possible.

• HashUp: Software distribution platform that uses ERC20 tokens as license holders, which are open-source, DeFi compatible and tamper-proof. It also has a plugin to easily set-up an online marketplace, providing Steam-as-a-Service.

• Kairos: Lending protocol that utilises NFTs as collateral, offering efficient lending options. The protocol is versatile and can work with any type of NFT, but it is particularly geared towards the NFT gaming industry.

Start an ETH DCA With Our Stable Treasury

As we said, we like cash. But we prefer ETH. Last June, it fell below $1000. We decided, almost unanimously (95.89% of the votes), to allocate $100,000 of our treasury to a weekly DCA on Mean.

Our treasury held around 35ETH on 01/01.

More information about our DCA thesis and Mean here:

Avoid Any Kind Of Yield Farming

The decision to become a VC DAO has its pros and cons: While it allows for more effective decision-making, it also limits our ability to be as responsive as traditional players due to the time required for voting and managing multisigs. As a result, we have chosen to avoid yield farming for the time being, as the potential returns did not outweigh the risks associated with investing in multiple smart contracts. However, we will re-evaluate this decision in the future if the market offers more favorable yields, particularly with our ETH holdings.

Evolution From Inception to Today

In 2021, our crypto tribe decided to go from 0 to 1. As builders, developers, defi chads and DAO contributors, we decided to combine our expertise to create a unique & meaningful project.

In 2022, we went from 1 to 10 by implementing several key strategies:

• We professionalized our DAO by recruiting three experienced community members to provide expert guidance and assistance

• We also brought on a talented designer from our community to work on a new version of our website and we will soon implement a bounty board to incentive the builders in our ranks

• Additionally, we successfully raised funds through a recent fundraising round, set to be completed by the end of the month

• Lastly, we added a new signer to our multisigs to further strengthen our decision-making processes

As we look ahead to the coming year, we remain optimistic about the future of the crypto industry and are excited to explore the opportunities it offers.

We are grateful to our members for their continued support and participation, and we are committed to working together to tackle the challenges and uncertainties ahead.

We hope that this annual report has provided a valuable overview of our performance and activities over the past year, and we look forward to sharing more updates and insights in the future.

Thank you for joining us on this journey and for helping to make BlockHub DAO a success and a pride. Our DMs are open for projects looking for a killer DAO to help them grow ✨