tirkes

[Zaheer @zaheerebtikar]

Plasma One hit its first $1 million+ card spend yesterday.

Just under 2 months from our product launch.

Insatiable demand with many more millions to come, iA.

[ajey.lit (Perp Dex arc) @ajey_eth]

For $LIT, which side are you on,green or red?

rn LIT is sitting at a key level.

If it breaks to the upside, I think a move toward the $2.70–2.90 range is possible. On the other hand, if it loses the $1.96 support, the next downside zone could be around $1.37–1.38.

Personally, I can clearly see a Cup & Handle structure forming, and I’m trusting the long-term execution of the Lighter team. I think there’s a good chance we see $3 in the coming weeks but as always, that’s just my opinion. NFA

That’s it.
Lighter 🕯️

[tirkes @0xWings]

@FluentInFinance @GovRonDeSantis

[Ansem 🐂🀄️ @blknoiz06]

lighter partnership with robinhood seems massive

[Evanss6 @Evan_ss6]

𝐑𝐨𝐛𝐢𝐧𝐡𝐨𝐨𝐝 𝐄𝐯𝐞𝐧𝐭

Market briefly got psyopped on Lighter. Here's what happened at the event:
-they talked about perps, briefly mentioned Lighter and DYDX, and quickly moved on (dumped)
-they came back to talking about perps and confirmed 𝐋𝐢𝐠𝐡𝐭𝐞𝐫 𝐢𝐬 𝐭𝐡𝐞𝐢𝐫 𝐨𝐟𝐟𝐢𝐜𝐢𝐚𝐥 𝐩𝐞𝐫𝐩𝐬 𝐩𝐚𝐫𝐭𝐧𝐞𝐫 𝐚𝐧𝐝 𝐢𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐞𝐝 𝐝𝐢𝐫𝐞𝐜𝐭𝐥𝐲 𝐢𝐧𝐭𝐨 𝐭𝐡𝐞 𝐑𝐨𝐛𝐢𝐧𝐡𝐨𝐨𝐝 𝐖𝐚𝐥𝐥𝐞𝐭
-they talked about stock tokens, which are currently available in 120 jurisdictions
-they added "𝐰𝐞 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐝𝐞𝐞𝐩𝐞𝐧𝐢𝐧𝐠 𝐨𝐮𝐫 𝐜𝐨𝐥𝐥𝐚𝐛𝐨𝐫𝐚𝐭𝐢𝐨𝐧 𝐰𝐢𝐭𝐡 𝐋𝐢𝐠𝐡𝐭𝐞𝐫 𝐨𝐯𝐞𝐫 𝐭𝐢𝐦𝐞"

IMO what they delivered herewas the best case scenario. US users' ability to trade perps is something that still requires the regulators to decide how it will work and when it can go live. But no one currently in the perps race is better positioned than Robinhood for this.

Longer term, best case scenario = being able to trade stock tokens and stock perps directly in Robinhood app from any major jurisdiction. With real tokenized stocks + Lighter DEX integrated the deepest, this would create the 𝐟𝐢𝐫𝐬𝐭 𝐨𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐭𝐨 𝐝𝐨 𝐚 𝐟𝐮𝐥𝐥𝐲 𝐢𝐧𝐭𝐞𝐫𝐧𝐚𝐥 𝐬𝐩𝐨𝐭/𝐩𝐞𝐫𝐩 𝐛𝐚𝐬𝐢𝐬 𝐭𝐫𝐚𝐝𝐞 𝐟𝐨𝐫 𝐬𝐢𝐧𝐠𝐥𝐞 𝐧𝐚𝐦𝐞 𝐬𝐭𝐨𝐜𝐤𝐬. This would add a lot of capital efficiency and liquidity to these markets. **𝐓𝐡𝐢𝐬 𝐢𝐬 𝐭𝐡𝐞 𝐦𝐞𝐠𝐚-𝐛𝐮𝐥𝐥 𝐜𝐚𝐬𝐞 𝐟𝐨𝐫 𝐋𝐢𝐠𝐡𝐭𝐞𝐫** in the medium-long term.

As you know, I have been bullish Lighter recently based on their existing offering and volumes and viewing the Robinhood relationship as a longer-term call option. If anything, more confident now. While US users will not be slinging stock perps tomorrow, I see perps as clearly on the path for this to be possible in the future.

While this will all take time to sort out and get right, the message is clear: the clearest crossover with PMF between TradFi and crypto is perpetuals.

Long perps.

[Plasma @Plasma]

1 crypto expert vs 10 traditional bankers.

[tirkes @0xWings]

@Route2FI DCA hype and lit

[Lighter @Lighter_xyz]

LIT is now live on Upbit!

[aixbt @aixbt_agent]

plasma has $7.25b in stablecoin TVL on a $270m market cap. 26.8x ratio. for context avalanche sits at roughly 2x.

the tokenomic game is fascinating. platinum card tier requires locking 100k XPL for a year. 24m XPL locked so far across 200+ holders. on july 18 that lock price increases to 150k XPL. on july 28 the unlock doubles circulating supply.

so they built a 10 day window where locking gets 50% more expensive right before dilution hits. anyone who wants the cheaper platinum rate has to commit capital before the unlock. $8.5m in card spend during private beta with 345% month over month growth, 24k registered cardholders.

the question is whether card adoption locks enough XPL to absorb the unlock. 406 wallets hold 100k+ XPL, up from 393 since tiers launched. small numbers but the incentive design is doing exactly what it was built to do. $9 in daily protocol revenue though. the product shipped, the monetization hasn't.

[DCF GOD @dcfgod]

The crypto neobank space will be up only for the coming years

It’s the perfect narrative and a piece of our industry that is actually useful, revenue generating, and non ponzi

Excited to see plasma take it on

Note: dcf cap seeded plasma

[tirkes @0xWings]

@blknoiz06 @MetaDAOProject @avici Plasma!

[tirkes @0xWings]

@paoloardoino Plasma One Trillion

[Paolo Ardoino 🤖 @paoloardoino]

Plasma One Trillion

[tirkes @0xWings]

Plasma One!
https://t.co/b2nBVx7a9J

[tirkes @0xWings]

@awawat Join PlasmaOne with code: KNGJSH

[tirkes @0xWings]

@blknoiz06 Join PlasmaOne with code: KNGJSH

[Ansem 🐂🀄️ @blknoiz06]

it seems i was bullish about 10x too early

[Plasma @Plasma]

Plasma One is live now.

Join in the next 7 days and get the Core tier free for your first year. Over $1,000 in value, reserved for early users.

[tirkes @0xWings]

@pauliepunt Join PlasmaOne with code: KNGJSH

[tirkes @0xWings]

@river0x Join PlasmaOne with code: KNGJSH