Kai 👻

Technical Research & Data Analysis👻 | Digital Assets & Blockchain, AI, and Tech

[Kai 👻 @DefiVaults]

@563defi @simononchain 🤝

[Kai 👻 @DefiVaults]

@mikhryc0x @schemacap DM'd

[Kai 👻 @DefiVaults]

I've split this research into two standalone pieces:

The DeFi Lending Endgame - market structure, lending economics, and where the sector is heading

The AAVE/MORPHO Trade - valuation, catalysts, trade construction, and invalidation criteria

The original article above will remain combined. The updated standalone reports are linked below:
https://t.co/zvyogoQ9S8

https://t.co/r78E9pIBl7

[Kai 👻 @DefiVaults]

https://t.co/Buuv7TSbZj

[Kai 👻 @DefiVaults]

@luigidemeo @0xKolten The prophecy (thesis) is being fulfilled!

[Kai 👻 @DefiVaults]

https://t.co/Buuv7TSbZj

[Kai 👻 @DefiVaults]

@0xjayeshyadav Sharp take! I discussed a similar idea in a report I wrote awhile back. Though, I didn’t name a specific tranche

[Kai 👻 @DefiVaults]

https://t.co/OJySbjchwy

[Kai 👻 @DefiVaults]

@FragzSol @haydenzadams Get historical prices and measure the correlation coefficient between the two assets

[Kai 👻 @DefiVaults]

@trevor_flipper Im not surprised. The first phase of crypto was focused on validating the viability of onchain businesses. Hindsight is 20/20 but no one knew which primitives were solid.

[Kai 👻 @DefiVaults]

@0xjayeshyadav Nice! Thanks for the resource

[Аргон @argon_delta]

you're not supposed to read 100 opinions a day on twitter

u're not supposed to know 100 things that are happening your country / around the world

u're not supposed to listen to 100 songs a day

u're not supposed to listen to the 100000 of thoughts a day

getting the juice out of life is about simplicity, saying NO 100x more than you say YES and focusing on the YES like a maniac.

[Kai 👻 @DefiVaults]

True! The R/R just increased, as it does with every new crypto cycle.

I think it’s pretty obvious to spot the projects to avoid, but the worst situation would be to pick a winning project that loses its value to an aqcuisition or is derailed by regulatory hurdles, which no one can really predict.

There are acouple projects I have my eye on, but I think binancecoin:native is a good pickup.

> CEX + blockchain that drive BNB utility
> narrative legibility + cultural dominance in APAC

Would need to do DD to spot al catalysts, but I think it has solid structure to support a steady floor.

[Kai 👻 @DefiVaults]

@jonah_b True. To add on, lending venues will be the biggest benefactors of RWA growth. Talked about it here:

[Kai 👻 @DefiVaults]

https://t.co/Buuv7TSbZj

[Kai 👻 @DefiVaults]

@EffortCapital Great project, but questionable tokenomics to say the least.

[beeman 📱 @beeman_nl]

The @solanamobile Seeker pitch, in one line:

Every user already bought the device, has a wallet loaded and connected, and wants to test your app.

120k devices. 1,200+ apps in the dApp store. No 30% cut on in-app purchases.

Filmed at @islanddao on Koh Samui 🌴 by @athcamera 🎥

[Kai 👻 @DefiVaults]

@YouKnowEno I’m going to adopt this as well!

[Eno @YouKnowEno]

i judge myself often which has been a catalyst for many positive changes. however, i have measured myself against the wrong units:

> results
> satisfaction
> time on schedule
> tasks completed
> convenience of others
> level of preparedness

these are important, but bad measurements for how you’re doing in life. the source of much anxiety and unhappiness. i am often paralyzed by my failure to live up to these expectations.

i had a personal breakthrough. i now measure myself against “time spent in motion”. this includes work, family, exercise, intentional rest. the ratio doesn’t matter to me anymore. i like my work and i like my family. i am naturally pulled to both and allow whatever has the most gravity to have my focus and attention.

i feel free!

[Kai 👻 @DefiVaults]

@rainandcoffee Can they exist at the same time or are they levers that you pull one at a time?

Like, when do you decide to give delusional optimism a rest?

[Kai 👻 @DefiVaults]

@563defi @HyperliquidX Yeah Hyperliquid is looking unbeatable atp. Any new venue is competing against Hyperliquid and all of the HIP-3 front ends.

Besides momentary incentives do you see any other exchange with a winning strategy or is it GGs?

[Kai 👻 @DefiVaults]

@Uptodatenow How do you think Perps get sticky users? Seems that when incentives dry all the interim flows will lead back to Hyperliquid

[Kai 👻 @DefiVaults]

@hosseeb A primer on the lending sector: https://t.co/bLZ7B3pcLU

[Kai 👻 @DefiVaults]

https://t.co/Buuv7TSbZj

[Kai 👻 @DefiVaults]

@Wajahat This becomes more decoupled from crypto cycles as private credit, tokenized securities and RWA collateral ramp up.