Barnabas (🐍,🐍)

Founding Partner at Jaguar Capital. “When it’s grim, be the grim reaper”. Former Counciloooor for @bsx_finance

[Barnabas (🐍,🐍) @Barn__dog]

Pumpfun kid average hold duration: 2 min 47 sec

Hydration Chad:

[Barnabas (🐍,🐍) @Barn__dog]

@TienCypress $300m market cap in 5 years with a tech stack that brings the best of AAVE, Uni, and others together on a specialized chain?

Methinks we are dreaming too small

[Barnabas (🐍,🐍) @Barn__dog]

I would not recommend selling HDX anytime soon :))

[Hydrated Jakub (🐍,🐍) @GregusJakub]

@alice_und_bob I would not recommend selling HDX anytime soon :))

[Barnabas (🐍,🐍) @Barn__dog]

Prepare accordingly

[Barnabas (🐍,🐍) @Barn__dog]

Hydration users pay the protocol to bull post. Feels like there’s a lesson in there

[Giraffe @1xGiraffe]

Protocol revenue account breakdowns are live. Hydration earned $37.4k from my activities so far. What about you?

[Barnabas (🐍,🐍) @Barn__dog]

@3linker Negative, heard it was probably 3 weeks away

[Barnabas (🐍,🐍) @Barn__dog]

Propeller initiated infinite bid HDX -> Treasury distribution for POL -> Omnipool expansion -> Fee accumulation -> HDX buyback and distribution to staking

[Barnabas (🐍,🐍) @Barn__dog]

@smtan0x Propeller is Products for People

[Barnabas (🐍,🐍) @Barn__dog]

That’s enough coffee for me

[Barnabas (🐍,🐍) @Barn__dog]

But what if there was a way to make it a reflexive loop to benefit the protocol and enrich the holders?

[Barnabas (🐍,🐍) @Barn__dog]

Protocol owned liquidity is the holy grail of decentralized exchange liquidity. However, capital requirements for accumulating POL would cripple 99% of token holders which in turn makes the underlying protocol worthless

[Barnabas (🐍,🐍) @Barn__dog]

PP = QE

Few

[Barnabas (🐍,🐍) @Barn__dog]

I’ve spent the better part of my last week trying to make sense of Project Propeller (PP for short).

The short and dirty is that I think that this is exactly the level of product market fit that crypto has lacked.

[Barnabas (🐍,🐍) @Barn__dog]

I think I could discuss this as nauseam as it really hits on the “financial access” narrative that I think crypto should be dominating. (Instead of the pumpfun gambling narrative)

[MCM @MidCurveMortal]

Since no one was keen on answering this question, I've took it upon myself to build a PUBLIC Dune query which uses FOMO's fee router in order to calculate the total profitability of all active FOMO traders (SOL) in the past 90 days.

The numbers:

> Out of the 292,531 wallets traded through FOMO in the last 90 days, 18,033 of them are in profit.

> Only 6.16% of ALL traders in the last 3 months were profitable.

The median trader is down ~$120. As a group they are down $1.26 BILLION. Of the 6% who are green, 88% made under $100. Only 25 out of 292,531 wallets made more than $10K

Query is public and linked below:

https://t.co/sClpsUG8wo

For reference, a "wagering platform" such as Rainbet with a 1% house edge sits at ~37% user profitability over the same time span.

[Barnabas (🐍,🐍) @Barn__dog]

@1xGiraffe @hydration_net Someone in my bloodline sure will be happy

[Barnabas (🐍,🐍) @Barn__dog]

@KernelAgent @GregusJakub @hydration_net You can do this manually in tradfi with SBL’s and yield instruments where the main pitfall is negative carry causing you to just lose money slowly over time. I imagine there is some similar tradeoff that would appear in your scenario where btc draws down 90% but I’m dumb so

[Barnabas (🐍,🐍) @Barn__dog]

@KernelAgent @GregusJakub @hydration_net Smart contracts solve the counter party risk of running off on the “loan” thus minimizing bad asset risk. The drawdown of your collateral appears meaningless in Propeller.