"But God did say, ‘You shall not [launch a points program] in the middle of the [perp dex meta], and you especially must not [make it gameable], or you will die.’”
Genesis 3:3
If they can seize your funds, it ain't a dex
Fuck Paradex. Fuck Aster. And if you wanna be down with them then fuck you too
This is a Hyperliquid account
@HyperliquidEco What's stupid about it?
https://t.co/6JibIRwmwk is the worlds stupidest market maker
HFT firms drastically increase their profits in every market they are active, because market making execution is HARD and they suck at it
Are you capable of carrying on a technical debate?
https://t.co/6JibIRwmwk is haram. Lose money, kill the project, everybody loses
You ought to be paid for contributing in economically valuable activity for the project. Value that lasts.
Helping some shitty perp dex wash trade to inflate metrics isn't useful.
The opposite
the actual problem with the perps dex meta is that users are not using the dexs because they like them to trade
they are using them ONLY to farm points to earn money off an airdrop
*this* is the problem: the points have become the product.
when the points end, the projects die, we collectively spin our wheels, and the cycle repeats. there is no stickiness. there's no signal.
i have participated in this bonanza myself so i am culpable
i've also called out specific projects, namely lighter/vlad and treadfi, and i acknowledge that's a bit unfair since they're just playing the game (don't hate the player, hate the game)
on some level i do not fault them for playing the game. on another level i'd love to see us return to a focus on building awesome products, that users love, that can thrive without active points programs
points programs should be tool in the toolbelt. but in crypto we've bludgeoned our dopamine receptors to the point where it's no longer a tool, it's a baseline expectation for every shiny new object
we can still have points. but we need teams to show deep restraint and creative filtering in designing points programs. fight the temptation. have balls of steel. no insider deals. a few teams are quietly achieving this, most are not
and in the depths of this shitty bear market, now is the time to re-center and refocus
we should reject the short-termism of the current meta. the points are not the goal.
putting finance on open decentralized blockchains is the goal. that is our north star
@SystemicStratHL is our IRL friend. Met him in 2021 when he was a MM on the binance leaderboard.
VERY smart lad. Does simple trades that aren't open to most traders because his execution is very good.
Think of Hypertrend like 100 different good trades like this all mashed into some kind of delicious bowl slop
In an effort to try stop seeing so much slop I've been trying to train my own AI detection model.
Found something incredibly interesting.
for the most part LLM generated text and human written text are linearly separable.
Normalize muting and blocking ai slop
Our friend Kris Longmore worked with @therobotjames for many years.
He runs one of a scant handful of trading education programs that aren't bullshit.
In fact, we send our non-trading staff to him to learn the basics
This is good
https://t.co/zKTCThmSC5