Liquid 3 Strategies PLC
A listed company that actively manages a Treasury of BTC, SOL & ETH to build NAV through yield-generating DeFi strategies.
Investment Highlights
A Hybrid Between a Digital Asset Trust and Yield Strategy Fund
  • The company is designed to provide traditional finance (TradFi) investors with exposure to high-performing digital assets — Bitcoin, Solana & Ethereum — enhanced by a DeFi-powered yield strategy.
  • Through a dual treasury structure (CORE and EXOTIC), the company delivers significant capital appreciation and income generation.
  • Daily Yields of 0.3-1.5%
  • We address a growing market of institutions, family offices, and retail investors seeking crypto exposure without the complexity or risk of direct custody and on-chain interaction.
  • Conservatively targeting 30% annual NAV growth purely from yield, with upside potential exceeding 60% — excluding any capital appreciation of Bitcoin and Solana.
The Rise of Bitcoin Treasury Companies
Key Trend
  • ~199 entities currently hold 3.01M BTC (~$315 billion) across public and private companies
  • Public & private companies hold 1.1M BTC ($115B) collectively
Strategic Shift
  • Companies are now positioning as Bitcoin treasury operators, aiming for valuations driven by BTC-per-share rather than core business operations
  • Market Narrative Drives Valuation: The Bitcoin-per-share thesis is gaining traction with investors who see these companies as leveraged plays on crypto appreciation rather than traditional businesses.
What Drives Value (MNAV Premium)
MNAV = Multiple on Net Asset Value
  • Defined as market cap ÷ NAV
  • Example: “Strategy” (MicroStrategy) holds 580K BTC (~$60B) with a market cap of $104B → MNAV ≈ 1.7×
How Companies Sustain a Premium:
  1. Convertible debt
  1. At‑the‑market equity rounds
  1. Reinvesting operational free cash flow into BTC
These levers allow growth in BTC per share — essential to sustain investor confidence and MNAV.
Strategy 2.0: Beyond Bitcoin
This Bitcoin treasury model is now being applied to other chains:
  • Solana: e.g. DeFi Development Corp (holding 420K SOL)
  • Ethereum: SharpLink Gaming ($425M raise via Consensys) B
🔹 The treasury-approach is evolving into multi-asset DeFi yield treasuries, aligning perfectly with Liquid 3’s CORE + EXO DeFi strategy.
What Makes Liquid 3 Unique
NAV-based compounding from yield and asset appreciation
Access to BTC, SOL, ETH — but with active DeFi compounding
Built-in investor protections: NAV reporting, custody, high-water mark
Listed vehicle with institutional-grade transparency
Future tokenization roadmap for retail and DeFi distribution
Inspired by best-in-class models like Grayscale, MicroStrategy, and Yearn
High-Level Rationale for Treasury Allocation
Why Build Our Treasury in BTC, ETH, and SOL
Bitcoin (BTC): Store-of-value anchor, global liquidity, hard-money narrative
Ethereum (ETH): Settlement layer of crypto, staking yield, institutional trust
Solana (SOL): High-performance execution layer, access to cutting-edge DeFi, low fees and real-time speed
Diversification: Each asset plays a different role in risk/yield spectrum
Long-Term Upside: Exposure to growth of 3 dominant Layer 1 ecosystems
Liquidity and Accessibility: All three have deep markets and trusted custodial solutions
Crypto Capital Inflows - Market Momentum
Record Capital Inflows into Crypto Funds
📈 In the week of July 21, 2025, crypto investment funds saw a record-breaking $4.4 billion in net inflows, pushing total crypto fund assets above $220 billion.
💰 Bitcoin ETFs led the surge with $2.2 billion in inflows, followed by Ethereum-focused funds with $2.1 billion.
⚖️ The surge coincided with the U.S. passing landmark legislation to regulate the $250 billion stablecoin market — a significant boost to institutional confidence.
📊 These inflows mark one of the strongest institutional endorsements of crypto markets to date and highlight increased appetite for regulated digital asset exposure.
🚀 This macro environment provides strong tailwinds for crypto-native treasury and yield strategies — timing is ideal for launching regulated vehicles like ours.
Strategic Role of Each Asset in Our Treasury
Board & Management Team
Lloyd Pengilly
  • Former Chairman of JPMorgan Africa and head of JPMorgan’s Metals & Mining division.
  • Founder of QKR Corp Ltd (established 2015) and served on boards including Rebosis Property Fund.
Kevin Oakeson
  • Previously worked at J.P. Morgan, Wells Fargo, and Vanguard in investment, credit, and relationship management.
  • Founded GameFi project Arcade2Earn and led Arcade Consulting Services.
Danny Willson
20+ years in Enterprise & Tech Leadership.
Co-founded Oracle Ventures and has advised across numerous blockchain projects.
Rami Ajami
Built Pip’s Island, a $20M-backed immersive entertainment company in NYC, recognized by Forbes as “the future of entertainment”.
Led blockchain initiatives including Timeout PLC's Metaverse strategy.
Market Opportunity
Gap Identified
Most listed crypto vehicles (e.g. Grayscale) are passive and lack yield generation. DeFi remains inaccessible to most investors due to technical and custodial challenges. We bridge this.
$4T+
Crypto Total Market Cap
$90B+
Solana + Ethereum DeFi TVL
Total Value Locked and growing
Our Approach vs Passive Models
Business Model
1
CORE Strategy (70–80%)
  • Capital appreciation driven by market performance
  • Yield generated through small, low-risk staking or wrapped liquidity (0.1-0.4% daily)
2
EXOTIC Strategy (20–30%)
  • Deploy treasury into exotic high yielding liquidity pools
  • Generate high daily yields (0.6–1.5%) with hedging mechanics
  • Compounded weekly and periodically rebalanced into core holdings
  • 5% - High return opportunisitic investments
Compounding Loop
Weekly yields
Converted into SOL/BTC/ETH
Added to CORE holdings
Result: Exponential NAV growth, transparently verifiable
Strategic Structure & Capital Framework
Monthly NAV Reporting:
Transparent NAV reports published monthly to ensure investor alignment and visibility on treasury performance.
Management Alignment:
Liquid 3 Strategies charges a 2% annual management fee on NAV and a 20% performance fee on NAV gains exceeding a 10% annual hurdle rate, subject to a high-water mark. This aligns management incentives with NAV growth and long-term value creation.
Future Tokenisation Potential:
Exploring a complementary utility token to expand retail participation, enhance DeFi liquidity, or provide staking-based access to treasury performance — without diluting shareholder value.
Scalable Capital Strategy:
Structured to raise additional capital through equity, debt, or hybrid instruments — following a MicroStrategy-inspired model to grow treasury holdings and amplify NAV per share.
Vault-Backed Token Model:
Exploring future vault-based token issuance — enabling users to mint NAV-linked tokens (similar to Yearn’s $yvTokens) that grow in redeemable value as underlying treasury strategies compound.
Use of Proceeds (IPO) - $5,000,000
The majority of IPO proceeds will be allocated directly to asset acquisition, with the remainder supporting the operational and technical infrastructure needed to execute our strategy.
80%
Core Strategy
10%
Operations, Custody, Advisors
5%
Legal, Compliance, Listing
5%
Technology Infrastructure & Security
Financial Model – 12-Month Projection
+28.7%
Base Case NAV Growth
Year 1 = $1.15M gain
+9.8%
Low Case
+60.1%
High Case
Long-Term Projection – 5 Year NAV Scenarios
Assumptions:
Weekly compounding
Active yield days: 180–360/year
BTC/SOL appreciation: 10% per year (CORE)
No leverage or exotic derivatives
Competitor Analysis
Risk Management
Custodial Risk
Cold wallet setup + smart contract audits
Market Volatility
Diversified yield and holding strategy
Regulatory Risk
UK legal counsel onboard; ongoing compliance with AQSE
DeFi Risk
Pools chosen for longevity, audits, TVL > $50M
Liquidity Risk
90%+ of pools chosen allow 24h or faster withdrawal
Roadmap
Phase 1
Incorporation, licensing, smart wallet setup
Q3 2025
Phase 2
AQSE Listing, IPO Launch
Q4 2025
Phase 3
Treasury Deployment, First NAV Reporting
Q4 2025
Phase 4
Front-end NAV dashboard + Investor Portal
Q2 2026
Phase 5
Expansion, Secondary Raise, New Pool Strategies
H1 2026–2027
Technology & Infrastructure
Security First Approach
Our infrastructure is built with institutional-grade security at its core, ensuring assets are protected whilst maintaining the flexibility needed for DeFi operations.
Wallet Security
Multi-signature wallets and MPC (multi-party computation)
Custody Framework
Split between institutional cold storage (BTC/SOL/ETH) and smart contract-managed DeFi wallets
Audits & Risk
Annual third-party audit; DeFi protocols selected based on audits, TVL, reputation, and backtesting
Contact / Call to Action
Let’s Build the Future of Digital Asset Income.
📞 Rami Ajami
📧 rami@eldolabs.io
🔗 www.liquid3strategies.com