Venice fair price
DIEM$1,623.96▾1.5%
VVV$17.04▾1.5%
mint rate1 DIEM per 498.3 sVVV
implied yield22.5%
utilization 30d0.0%
⌁ THE STREET'S COVERAGE, ARCHIVED

Word on the canal

Every serious model of DIEM and VVV the street has posted: archived from the public record the day it appears, re-run every morning against the tape. The desk supplies the apparatus; the authors keep their opinions. The measurements behind it all live on the desk.

Where the street lands · DIEM

each model's stated bear-to-bull range and the desk's as-measured value against today's market · dollars below, implied yield above
implied yield →
100%50%25%
market · $1,624 · 22.5% yield
B3nj4min_ETH
utilization DCF · Jul 7
$400
$100
$1,000
KrakenTree
perpetuity ladder · May 9
$1,460
$1,460
→$3,650
Sum of My Ideas
survival-adjusted perpetuity · Aug 2025
$440
$365
$1,460
Yan Liberman
perpetuity framework · May 20
$1,382
The desk model
utilization-adjusted · daily
$0$1,200$2,400
stated bear → bullbase, as publishedas measured (desk measurements)desk-verified boundsmarket price
mint parity
check
DIEM market
$1,624
mint cost = $17.04 × 498.3 sVVV
$8,493
market at
19.1% of mint cost · mint uneconomic · ceiling not binding
VVV floor = mint rate × DIEM
$3.26
VVV vs its floor
5.2x the floor · VVV side of the same parity

Coverage

6 models · DIEM
B3nj4min_ETH
@B3nj4min_ETH · 2026-07-07
view on X ↗
the desk's plain-words read

B3 treats DIEM as a perpetual compute bond: one token refreshes $1/day, so $365/yr of Venice API credit. That face value gets haircut for how much of the credit a holder actually uses, whether Venice stays useful, and the time value of money.

His base case takes 75% utilization, 80% credit realization, a 4-year horizon and a 35% discount, putting DIEM near $400 rather than the market's ~$1,330. He frames it bear $100 to $250, base $300 to $500, bull $700 to $1,000+, and reads the market price as a very optimistic, near-perpetual case.

10 replies5 reposts47 likes8,227 views
archived 2026-07-16 · engagement as of 2026-07-18 · first half of the post: the DIEM framework; the VVV half is archived under b3-vvv-v1
the model, re-run today
365 x utilization x credit realization x quality x annuity(4y, 35%)
$437
fair value
$275
as measured · bounds $8.91 to $457
$1,624
market
+271%
mkt premium to model
as measured: the author's formula on desk measurements
  • utilization ← measured utilization, 7-day mean (the line)
  • utilization ← venue-visible monetized share to staked share (the band)
52.4% today's spot (the line runs on the 7-day mean)
left exactly as published: credit realization 80% · quality 1.00 · 4-year horizon · 35% discount rate
sources · why each substitution
  • utilization: his 75% is his estimate of how much of the daily credit ONE holder would use; this line runs his formula on Venice's measured network consumption over staked DIEM, averaged over the trailing week. Related quantities, not the same one, which is why this runs as a second line and never touches his published figure
  • utilization: the band spans the desk-verified bounds: venue-visible monetization below, staked share above; the measured line lives inside them
the line runs at Venice's measured utilization (API credit consumed / staked DIEM, reported by VeniceStats, a secondary source shown with attribution; credit resold through Surplus or Gondola is served through the same API, so venue-driven consumption is already inside the consumed figure rather than added again; the on-chain oracle supersedes it when it posts real usage). The band is the desk-verified bounds: venue-visible monetization below (a LOWER bound, blind to self-consumption) up to the staked share (an UPPER bound, eligibility is not consumption)
utilization
published75%
author
todayawaiting signal
oracle
credit realization
80% fixed
author
quality
1.00 fixed
author
horizon / discount
4y / 35% fixed
author
fair value
published$400 frozen
today$437
stated: bear $100-250 · base $300-500 ("closer to ~$400") · bull $700-1,000+

Models are community work archived from public posts; the desk re-runs each formula with live inputs, updating any parameter that is measurable over time (utilization, mint rate, prices) with its on-chain series and disclosing each, while author judgment stays as published. The market line, yields and on-chain series are the desk's apparatus. The desk publishes one estimate per asset, under assumptions labeled on its card. Nothing here is investment advice.

Dig deeper: the desk's measurements