53263 🎒

[53263 🎒 @0x53263]

Finally decided to start documenting my daily crypto activities on X with this thread.

Everyday I'll be documenting what I've done on and off chain, as well as any things that I've read up on and found interesting.

I'll be using this thread personally to track my progress, reflect on wins & losses, and stay accountable.

🫡💜

[53263 🎒 @0x53263]

Day 2️⃣9️⃣:

@variational_io points went live today, with 3,000,000 points distributed for the pre points campaign.

Seems like there was a heavy skewing towards trading alts & keeping OI (which makes sense given alts have a significantly higher spread and significantly lower volume than majors).

I’m currently ranked just out of the top 500 for points, while being ranked around 900 for volume.

I anticipate there to be more points distributed each week going forward; now that the official points program has begun - similar to @pacifica_fi.

Points program is due to conclude by end of Q3 2026. And I anticipate total points to be around 10m by the end of the program.

Happy to continue farming this due to:

> Approximately 50% of the token supply planned to be given to community (obviously not all at TGE)

> Still fairly early with only 27k users. I expect a lot of users to flow in following @Lighter_xyz TGE.

> Good product with solid USP

> cracked team

[Variational @variational_io]

Points are live.

Today, we launched the Variational Omni points program and retroactively awarded points to existing traders.

1/🧵

[53263 🎒 @0x53263]

@HYPEconomist It’s 50% over time through various incentives, highly doubt 50% at TGE

https://t.co/tnMjWWAkwM

[53263 🎒 @0x53263]

Day 2️⃣8️⃣:

Claimed the new badge on @Titan_Exchange - great dex. The latest badge is “Forge”, and is given for using their in-house SOL incinerator.

I’m aiming for high volume & trading edge on @Titan_Exchange , along with claiming any badges that come up.

In perp dex news, @variational_io points are due to go live in the next couple weeks.

Just 5m in volume puts you in silver tier, which is currently around top 10.3% of all users. And 25m volume gets you in gold tier around top 2.19% of users.

My current perp dex focus is @extendedapp & @variational_io, along with any early plays.

Expecting more.

[53263 🎒 @0x53263]

Day 2️⃣7️⃣:

As mentioned in my post yesterday, Lighter TGE looks very close. Polymarket odds currently have December 29th being the date; with a 49% chance (interesting 🤔).
https://t.co/TO7j7jjvag

In other news, I’ve signed up for a @cascade_xyz invite, which seems pretty hyped (always good to be early to these things).

> 24/7 neo-brokerage for perpetuals markets spanning, crypto, US equities & private-assets.

> Single, unified margin account with direct-to-bank US dollar capabilities

> $15m funding from names such as @polychain @variantfund & @cbventures

Also pushed some further volume across a number of perp DEXs. Still farming points while the wider market looks crap.

[Cascade @cascade_xyz]

The first 24/7 neo-brokerage.

Trade perpetual markets for crypto, equities, and private assets. Move USD in and out, all from one unified account.

48 hours to secure an early invite.

https://t.co/3azhduZEFM

[53263 🎒 @0x53263]

@cascade_xyz The first 24/7 neo-brokerage.

Count me in🔥

[Cascade @cascade_xyz]

The first 24/7 neo-brokerage.

Trade perpetual markets for crypto, equities, and private assets. Move USD in and out, all from one unified account.

48 hours to secure an early invite.

https://t.co/3azhduZEFM

[53263 🎒 @0x53263]

Day 2️⃣6️⃣:

Admittedly missed a couple days of updates, super busy with IRL things currently.

A few notable updates on @Lighter_xyz:

> Coinbase added $LIGHTER to their roadmap
> Lighter team removed points from cheaters
> Leaderboard removed from Lighter website
> Airdrop allocation modal was added in a recent update

TGE looks imminent.

My plan upon TGE is to most likely sell the majority of my allocation and open a low leverage long. This will allow me to free up some capital for farming projects like @extendedapp @variational_io, while also having exposure to $LIGHTER ; which I’m very bullish on longer term.

[Coinbase Markets 🛡️ @CoinbaseMarkets]

Assets added to the roadmap today: Lighter (LIGHTER)
https://t.co/lyEugQo7Cv

[53263 🎒 @0x53263]

Day 2⃣5⃣:

Quiet day on the perp dex farms today. Market is super volatile at the minute and I'm not interested in farming perps in these conditions.

I'm not trying to rack up losses from poor spreads between exchanges and unwanted liquidations; particularly on platforms which don't reward liquidations with bonus points.

[53263 🎒 @0x53263]

Day 2️⃣4️⃣:

@extendedapp Vault Shares (XVS) went live today, allowing users to earn > 15% APR while also using their vault collateral for trading (pretty cool).

I haven’t been deploying my stables into perp dex vaults so far as I’ve been trading on the platforms for points instead - I believe trading is better use of capital. But I will certainly be depositing into XVS, where I can capture the yield & also utilise the funds for trading.

In other news, @Lighter_xyz TGE rumours are heating up, with insiders buying YES shares on @Polymarket of Lighter TGEing this year https://t.co/EY78AMoMlO

Expecting @extendedapp volume to sky rocket once Lighter TGEs (dropping 100s of millions to traders) as people look for new farms.

Expecting more.

[Extended @extendedapp]

The Extended Vault just evolved

Introducing XVS: Extended Vault Shares that turn your vault deposit into yield-bearing collateral.

Trade on Extended exactly the same way you do on any perp DEX, while earning >15% APR on the same capital.

Over the coming weeks we will:
- Scale XVS contribution to Equity and Available Balance up to 90%
- Launch XVS Extra Yield on top of the Base Yield, where APR increases with user activity. The more you trade, the higher your yield.

Breakdown at launch:
- XVS contribution to Equity: 75%
- XVS contribution to Available Balance: 25%

[53263 🎒 @0x53263]

Day 2⃣3⃣:

Nothing significant to note today in terms of active farms.

@stable TGEd today, with return being around 10% of deposit amount, not bad for a short term hold, but probably not worth the KYC.

Now that @stable has TGEd, my only active stable coin LP farm is @Neutrl. Besides @Neutrl, my stables are almost solely being used for perp dex farming - as I believe perp dexes will have significantly higher returns than LP farms.

Although very illiquid (and risky), the OTC price of my @Lighter_xyz & @extendedapp points alone are equal to about 3.75x my total losses incurred from farming every perp dex I've interacted with.

I'm effectively participating in ICOs with additional edge (trading), and I certainly don't mind that.

[53263 🎒 @0x53263]

@henloitsjoyce @Neutrl

[53263 🎒 @0x53263]

Day 2⃣2⃣:

@Lighter_xyz spot ETH trading going berserk with 235m volume in the last 24 hours. For comparison, the TOTAL spot volume on @HyperliquidX across all available assets has been under 200m in the last 24 hours.

Clearly the market is a fan of the 0% fees, or airdrop farmers are farming hard (likely both).

Pushed some further volume on spot ETH today, expecting spot traders to get a decent points drop this next week.

I'm going to re-evaluate my current farms over the next few days, when I get chance, something I like to do every so often to stay on top of things.

[53263 🎒 @0x53263]

Day 2️⃣1️⃣:

Back at laptop this evening after touching grass.

@Lighter_xyz launched spot trading today with ZERO fees. ⚡️

Unsure how true, but it seems early depositors of spot ETH received a decent amount of points (seems to be around 50).

I pushed some sport ETH trading volume this evening, and I plan to push further spot volume throughout the coming weeks.

I believe pushing spot trading volume on both @Lighter_xyz & @unitxyz will see good airdrop returns.

Also pushed some further volume on @01Exchange, super early here still.

[53263 🎒 @0x53263]

@zeuusy_ @Lighter_xyz @fuegonft @GTE_XYZ Very hard not to be 🔥

[53263 🎒 @0x53263]

Day 1⃣8⃣:

Nothing significant to note today, busy with IRL things but pushed some volume across perp exchanges.

Some notable recent updates in the perp dex world:

@Lighter_xyz network upgrade scheduled tomorrow, rumored to be spot trading; who knows. @fuegonft confirmed as the NFT collection for Lighter.

@ostium raised 20m in a Series A, fading this personally.

@paradex recent controversy with a "bad actor" exploiting the Giga Vault, also fading Paradex. https://t.co/VBpzZL76YY

@variational_io points program confirmed to go live in next few weeks (Q4 confirmed).

@GTE_XYZ integrating @Polymarket directly into their UI. Bullish on GTE & team. https://t.co/MB26Nu2yLK

@liquidtrading confirmed Lighter volume only counts as a multiplier for Liquid points. Will be switching to HL volume (with HIP-3 @tradexyz pairs) via Liquid for a 3 in 1.

@extendedapp founder @rf_extended conducted slippage & total cost analysis of trading at various sizes when compared to @Lighter_xyz @HyperliquidX. With @extendedapp being extremely competitive (often the cheapest venue). Bullish https://t.co/1wJPhXktXP

@nadoHQ increasing NLP vault capacity from $1m -> $2m tomorrow at 14:00 UTC

[rf.extended @rf_extended]

State of liquidity and execution on @extendedapp v2

At the request of the community, we've updated and expanded our analysis comparing slippage and total cost of execution (taker fees + slippage) across Extended, Hyperliquid (base tier) and Lighter (both Standard and Premium).

In this analysis we:
1. Took all crypto markets listed on Extended
2. Assessed average slippage* for $10k, $100k, and $500k market orders (and $1,000k for majors) across the three exchanges
3. Ranked** each exchange for each combination of market and clip size separately for slippage and total cost of execution (1 = lowest slippage / cost, 3 = highest)

Slippage. Out of 137 combinations of markets & clip sizes:
- 80 times Extended ranked #1 (surprisingly for us as well)
- 36 times Hyperliquid
- 11 times Lighter

Total cost of execution with Lighter Standard (0 fees). For the same 137 combinations:
- 67 times Lighter Standard ranked #1
- 50 times Extended
- 10 times Hyperliquid Base Tier

Total cost of execution with Lighter Premium (2 bps fee). For the same 137 combinations:
- 61 times Extended ranked #1
- 54 times Lighter Premium
- 12 times Hyperliquid Base Tier

What this means:
1. Lighter vs Extended: Total cost of execution on Extended and Lighter Standard is comparable on alts, while Lighter Standard is cheaper on majors. When compared to Lighter Premium, Extended becomes cheaper in more cases.
2. Hyperliquid vs Extended: Unless your HL taker fee tier is below 2.5 bps, the total cost of execution will likely be cheaper on Extended.

Full dataset: https://t.co/yEhhG7XaPm

* Average slippage represents the average bid-mid and ask-mid spread across 1,439 snapshots taken every 30 seconds between 05:30 UTC and 17:30 UTC on 25/11.

** For fairness, we only ranked exchanges for combinations of market and clip size where data was present for all three exchanges.

[53263 🎒 @0x53263]

@zeuusy_ @almanak @cookiedotfun Chad, well deserved. You were the first and only person I saw talking about @almanak for quite a while. Zeus always early.

[53263 🎒 @0x53263]

Day 2️⃣0️⃣:

Busy touching grass today.

I always keep phone usage to an absolute minimum when I’m out the house. It’s important to have time away from work & crypto every now and then; I find it helps me stay focused in the long run without getting burnt out. 🏃‍♂️

In other news, @Lighter_xyz launched spot deposits for ETH yesterday, with trading set to go live at some point this week. ⚡️

I’ll be depositing a decent chunk of my remaining ETH holdings to @Lighter_xyz when I’m home, and will participate in spot trading once live.

I suspect a decent amount of points may be awarded to spot traders (and possibly spot holders), so I’ll try get a decent positioning here. 🥇

Currently only trading equities on @Lighter_xyz - it still remains my favourite place to trade my a mile.

[Lighter @Lighter_xyz]

We’re excited to introduce Spot on Lighter! You can now deposit, withdraw, and transfer ETH, the first native asset on our Ethereum L2.

Later this week, we’ll enable spot trading and begin rolling out additional markets.

[53263 🎒 @0x53263]

Day 1⃣9⃣:

With @N1Chain Mainnet around the corner, I've had a play around with @01Exchange private beta this evening; which will be the first app to go live on N1.

Some key points about @N1Chain:
> A Layer 1 blockchain purpose-built for trading of all market types.
> Every ecosystem app will be incubated or built in house by N1.
> Raised $5m in a seed round co-led by @foundersfund
> Apps will be running their own dedicated compute environment. No shared resources = no performance degradation.

Overall UI is really nice on @01Exchange, and trading execution is smooth. The liquidity is currently low but they're still in the process of onboarding MMs; with current users sitting at only 38 as per their leaderboard.

The app is missing a few key features such as SL & TP but expecting these to be implemented soon.

I'm a big fan of the live leaderboard, live chat feed & clans; which adds a social element to perps trading which I haven't seen before.

Expecting @01Exchange to pick up volume fairly quick as invites start rolling out, and MMs get onboarded.

[53263 🎒 @0x53263]

@0xChaoz @Lighter_xyz @fuegonft Good share, missed that on my feed, thanks!

[53263 🎒 @0x53263]

Day 1⃣7⃣:

Decided to move my journal to individual posts instead of documenting in a thread. I think this will force me to document in more detail on each post, and personally I prefer how this style flows when looking at other peoples profiles.

Points day on @extendedapp today, 451 points for about 1.2m volume over the last week, not bad.✅

I've been delta neutral with @Backpack, with total costs between the two (2.4m total volume) coming out to $513.💸

With limit orders on @Backpack & market orders on @extendedapp this volume comes out to around $420 in fees alone (0.01%+ 0.025% respectively), so about $93 lost in spreads and trade execution.🚫

This puts my total costs for extended points at around $1.137 when totally negating @Backpack points earnt for this week.🎒

The following scenario works out to $1.875 per point:
> 500m FDV
> 80m total points (double the current total)
> 30% airdrop (confirmed)

I expect volume and therefore FDV predictions to increase once Lighter TGEs and people look for new farms.

Team is cracked, product is great, and airdrop percentage is fat. So I'm happy to continue farming this.