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make the critics count // @ethena_labs
Joined December 2016
Never short into momentum. Say it with me: ”The market can stay irrational longer than you can remain solvent.” Repeat as needed. Disobey this commandment at risk of death.
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extremly happy to announce I'll be joining @ethena_labs. over the last year, i witnessed firsthand the incredible appetite institutions, family offices and HNWIs had for USDe - even from those who would normally not touch crypto. there is still such a massive, untapped
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Altlayer didn’t run a 6 month points program. Altlayer didn’t have a leaderboard . Altlayer didn’t make you connect to twitter. They simply dropped tokens. Do better. Be like altlayer.
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wait what the fuck
- great product.- former quants.- no vcs.- no podcasts. deepseek is the hyperliquid of llms.
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best trader i know (top 3 on leaderboards) openly shares his trades in real time, created a gc to share resources & help his friends make it, doesnt shill his bags or claim clout on CT (<2K followers), is one of the genuinely nicest guy i've met in the industry. stop worshipping.
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Crypto has thousands of tradable assets and only a handful of investable ones.
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note what the premiums have in common. we sell hopes & dreams in this industry
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this indicator is really strong, ~70% win rate on a higher time frame (since 2013). and when it’s right it tends to be really right.
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eigenlayer's thesis is that bootstrapping economic security is expensive. but in reality the market is willing to throw L1s with any credible differentiation a $1B+ valuation. so eigenlayer ends up attracting networks that somehow couldn't raise from VCs that are hungry to deploy.
eigenlayer: the market for lemons.
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crazy to think that HL's total stables TVL ($2.3B) is greater than Bitget's ($1.4B), the 3rd largest crypto perps exchange.
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thank god Drift, the Leading Decentralized Perpetuals Futures Exchange on Solana, is not market making on their own exchange.
Can anybody confirm if Hyperliquid is Market Making on their own exchanges?.
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hyperliquid has more volume than coinbase perps. coinbase launched perps in march 2023.hyperliquid in may 2023.
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you can buy shares in a 24/7 world computer that never goes down in your brokerage acc next week :].
GLOBAL OUTAGES. - Major banks, media, airports and airlines affected by major IT outage. - Payment systems impacted in different parts of the world, including Australia and the UK. - Australia's government calls for emergency meeting. - Significant disruption to some Microsoft.
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@NateSilver538 "So if you offered me a bet on the election, who would I pick? Well, I wouldn’t. And not because I don’t like gambling. But at the odds sportsbooks typically offer, you have to win 52.5 percent of the time to have a +EV bet.". polymarket is offering you Harris at 38%.
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surely the market can support multibillion valuations for zksync blast friendtech ionet drift swell mode hyperliquid morpheus in may.
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hyperliquid TVL going up even after points program ended . no the volumes are not fake
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cant help but feel that polymarket is this cycle's opensea, and there's a blur-equivalent out there that will successfully vampire attack it.
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tradfi KOL round.
Excited to announce we've raised 62.7M$ at 1.04B$ valuation, led by Daniel Gross, along with Stan Druckenmiller, NVIDIA, Jeff Bezos, Tobi Lutke, Garry Tan, Andrej Karpathy, Dylan Field, Elad Gil, Nat Friedman, IVP, NEA, Jakob Uszkoreit, Naval Ravikant, Brad Gerstner, and Lip-Bu
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just to put some of this in context: polymarket has had $240M of volume in the US election markets throughout july. predictit saw ~$3.6M. the predictit flip came from $52K of volume. polymarket currently has more liquidity +/- 1% than predictit's entire daily volume. predictit
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if you staked 10k in usde and hlp in 2023 you would have $930k right now. wow.
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jeff you have to stop. your nodes too performant. your chain too centralized. your binary too single. they'll kill you.
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crypto is great because defi projects will give you 8-15% on your stables to build up a brand/liquidity moat then decide to completely rebrand and let you farm incentives again as they try to rebuild the brand/liquidity moat.
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if you like justin drakes undisclosed eigenlayer involvement you’ll love the hundreds of angel tickets from toly, raj, sandeep, etc.
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This Pendle YT/PT trade has been living RENT FREE in my head for the past few days and I finally got around to mathing it. Sharing the sheet publicly (last tweet) . TLDR: YT isn't as bad of a trade as I originally thought
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hyperliquid is the best technology ever, auto TP at the highs while i was away for dinner
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hyperliquid reaching 10% of bybit OI is actually crazy impressive.
reaching 6% of @binance OI. reaching 10% of @Bybit_Official . hypurr morning.
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do people seriously think no token vesting, 100% unlock on TGE is a good idea?.
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the best minds of our generation are currently pricing a french 4-year bond.
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Periodic tally of upcoming stuff I'm looking at:. L1/L2s: Aleo, Starknet, Berachain, Blast, Mode, Layer N, Eclipse, Movement, Dymension, Layerzero (wen), Wormhole. DeFi: Ethena, Eigenlayer + its ecosystem (LRTs x Pendle), Infinex, Berachain ecosystem, Ambient Finance (wen??),.
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rt as may be lost in replies:.- incoming proof of reserves which will help improve USDe backing transparency.- MiCA licensing (which we are in the process of attaining) would require a full financial audit.- every dollar the protocol generates benefits users whether in the form.
@ngmingmingmi Appreciate you sharing these thoughts openly. On your question regarding the legal ownership structure the underlying spot is beneficially owned by the Foundation but the hedging positions are held in the name of Labs entities, this thread here covers it well and it is reflected.
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$200B incoming
*BLACKROCK SAYS UP TO 2% BITCOIN ALLOCATION IS REASONABLE RANGE: BBG.
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we're ~110 days post-halving, miners have finished capitulating, nation states are done dumping, major central banks all pivoted dovish, crypto leverage got cleansed to YTD lows, GBTC/ETHE outflows are muted/diminishing, kanav's reign of terror is over, saylor wants to buy $2B,.
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i wonder when the investors / insiders were notified
INTEL: Tools for Humanity has extended the token lock-up period for early $WLD contributors.
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we cancelled a prop trader for shilling his own bags while the incoming US president launched a low float memecoin in his name via a tweet with no follow up.
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sommelier vault is so fucking cooked. wstETH on arbitrum is at a 60bps discount, how are they going to unwind this?
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aave. bear: .- fair to rich multiples.- not much near-term incremental profit even if TVL increase significantly.- lido instance uptake a bit disappointing.- can argue inflated TVL/revenues from weETH looping (how sustainable is this?).- left tail black swan risk. always a risk.
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just two years
Michael Saylor steps down as MicroStrategy CEO as the company reports a $918 million impairment charge on Bitcoin holdings. August 2, 2022.
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I lost a lot of respect for Nate Silver when he came up with a pseudoprecise forecast of 50.015% for Harris (with a margin of error of 0.35) yet publicly refused to put down a bet when Harris was priced at 38% on Polymarket, despite being an advisor for Polymarket and writing a.
@NateSilver538 "So if you offered me a bet on the election, who would I pick? Well, I wouldn’t. And not because I don’t like gambling. But at the odds sportsbooks typically offer, you have to win 52.5 percent of the time to have a +EV bet.". polymarket is offering you Harris at 38%.
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was originally skeptical and thought the volume was all wash trading / points farming, which maybe was true 5-6 months ago . but it clearly has one of the highest non-toxic flow across all perp dex's now . strong flywheel of flow -> better HLP performance -> attract HLP deposits.
hyperliquid: first to list a REZ perps market, 0.2-0.3% spreads. impressive.
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aave please do whatever you can to raise the sUSDe caps no matter how illegal it may be. ty sir.
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washtrading still works wow.
Some really strong trading volumes lately from @OrderlyNetwork, has been jumping around #1-#4 perp DEX for volumes over the last week. Daily actives hovering around the same as Hyperliquid (HL is at ~6-7K dailies)
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went through an entire blockworks vertex shill piece just to realize it was sponsored. why am i paying 2500/yr for this
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eigen tweets always sound like generic bot scam ones.
A big thanks to all our community members who verified, claimed, and shared your stories as part of the community stakedrop as a part of Season 2. While many verified and claimed, we’re aware that many of you missed your chance to verify your socials. Good news – we’ve reopened.
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What’s your BTC thesis?.“Billions of inflows post ETF, $150K price target this cycle”. How are you going to trade it?.“Sell the news bro”.
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the representative from healthcare blockchain wallet token ($200K FDV) will have our industry's best interest at heart
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Phoenix Labs and Spark Protocol CEO Sam MacPherson confirmed that USDS (formerly DAI) will have a freezing function. Centralized stablecoins such as USDT/USDC all had freezing functions. In addition, the Sky official website after upgrading from MakerDao also has a function that.
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after being in the US for a week and trying to access my usual crypto apps, i see where the hyperliquid PMF is coming from.
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hyperliquid.
In 2024, Hyperliquid. 1) redefined the crypto meta to put community above all. With Hyperliquid, there are no investors, no market makers, and no fees paid to any company. Billions of dollars of value were created by a common vision and relentless hard work. This value went.
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in all the best decisions and trades in my life, i've had people tell me not to do it . the bad ones are generally consensus - ppl think its a great idea.
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i remember sreeram mentioned on a podcast in 2023 that it was very possible that eigenlayer could be enshrined in ethereum itself (implying that an eigen token wouldn’t be needed). maybe around 6 months later they raised $100M from a16z.
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A lot of my assumptions here proved too conservative. Etherfi's growth continues to be up only, Eigenlayer also grew faster than expected. I've updated estimates for this and created a simplified page with the few variables that move the needle (next tweet). A lot of people have.
This Pendle YT/PT trade has been living RENT FREE in my head for the past few days and I finally got around to mathing it. Sharing the sheet publicly (last tweet) . TLDR: YT isn't as bad of a trade as I originally thought
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Have been very impressed @OlympusDAO over the last year. RBS, Cooler Loans, Boosted Liquidity Vaults are all cool experiments that provide liquidity and pull OHM to liquid backing. Transparency and management of treasury have been one of the best too.
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stacks halted for nine hours and literally not a single peep heard on the timeline.
We are experiencing a delay in Stacks block production due to unexpected mining behavior combined with a Bitcoin reorg. Core developers in the ecosystem are investigating the issue and working to resolve it as quickly as possible. Thank you for your patience & understanding.
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I’m seriously evaluating buying a public US company and following Michael Saylor’s strategy but accumulating Canto.
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holy fuck this was such a good read, suggest carving out some time to read it esp if you’re interested in prediction markets.
The Venezuelan Election, and Prediction Markets as Truth.(very long post -- SICKOS ONLY). Starting with a little history -- the first big prediction market controversy (and it even made the news) was about a North Korean missile launch in 2006. North Korea launched a missile,
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farming tiers (rehypothecate version) . S: etherfi liquid vault, mETH Karak.A: PT-weETH Karak, USDe Karak.B: blackwing + any of their rehypocated assets, mitosis etherfi .C: zircuit + LRTs, ambient ETH/USDC + scroll, puffer + Karak / zklink, morpho lending .D: any blast thing,.
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wait i've seen this movie before.
MKR has been down only since the rebrand announcement, losing 33% of its market price. Normally, this isn’t a huge issue. It’s just crypto being crypto. But Rune is borrowing against his MKR, and is now withdrawing large amounts from governance staking to shore up his positions
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