mlbob

mid curve extraordinaire. @fraudsworth

[mlbob @MetalLegBob]

https://t.co/BgFlKWMg5w

[mlbob @MetalLegBob]

@nftimm @toly @mert Banger

[Superteam UK @SuperteamUK]

The future of DeFi in the UK shouldn't be decided without the people building it.

Today, we submit our response to the FCA's perimeter consultation.

Backed by 20+ founders, all pushing for rules that can give DeFi a home here.

We fight for the progress we need. 🦾🇬🇧

[mlbob @MetalLegBob]

We will own everything and be happy about it.

[Sonder @sonder_crypto]

Stocks won. Crypto's game moved.

And it's not where the timeline is looking.

$NVDA is at $5.4 trillion.
Up 64% in a year.
20% of the S&P 500's YTD gain comes from 1 stock.

The bull market is in equities right now and pretending otherwise is cope.

But NVIDIA can't 100x from here, a $540 trillion market cap is more than 5x current global GDP. The asymmetric upside is gone on the large caps.

That's still a great trade. Go make money in stonks.

Genuinely.

But maybe the choice doesn't have to be between stocks and crypto.

[mlbob @MetalLegBob]

@sonder_crypto "The mechanics that come from experimentation is what matters."

Great write up man, bullish on bringing novelty, experimentation and exploration back 🧪🫡

[mlbob @MetalLegBob]

@0xSrMessi @vukan0x @mrinko @MetaDAOProject @thefutardiocult not meteora, the actual LP itself reserves a tiny fee on each transaction which is how the pools grow in depth over time

(assuming this is the case with metadao pools but I haven't actually looked)

[mlbob @MetalLegBob]

@0xSrMessi @vukan0x @mrinko @MetaDAOProject @thefutardiocult That + the amm fee (assuming .25%)?

Doesn't really make sense to me for projects to receive anything from it in that case

[mlbob @MetalLegBob]

@vukan0x @mrinko @MetaDAOProject @thefutardiocult What's the current fee structure on metadao/futardio pools? I've never actually looked

[mlbob @MetalLegBob]

@fraudsworth Task failed successfully

[Just1Fishing @Just1Fishing]

Excited for this one.

Get ready.
Go.

[mlbob @MetalLegBob]

@0xBiZzy Bizzy what should I buy today

[mlbob @MetalLegBob]

This bit makes me say yes:

"But what we're really designing is the feedback loop between capital allocation, cash flows, liquidity, buybacks, and governance."

An onchain mechanism where the outcome is greater than what any of its individual parts (or the sum of them) could produce.

[mlbob @MetalLegBob]

@zinnresearch probably best you enter her first 👀

[mlbob @MetalLegBob]

either you can enter the milf or the milf is gonna enter you sorry i don't make the rules

[mlbob @MetalLegBob]

@CryoPalmar @BluntCap @PeterOgink @fraudsworth @Backpack He's nearly there Cryo get him over the line and into the milf

[mlbob @MetalLegBob]

@harkl_ That's another splendiferous one

[mlbob @MetalLegBob]

bring back words like humdinger and flabbergasted

[mlbob @MetalLegBob]

@saudweb3 😂😂😂

[mlbob @MetalLegBob]

Gm skinky, fraudsworth dev here

1) They already are.

2) We'll be rebranding some of the naming not too far in the future, I agree in that the 'joke' side of the branding got taken too far and intending to tone it down a few notches

If you ever get the time i'd love to chat to you more about the project, the underlying mechanics are far more serious than the branding suggests 🫡

[mlbob @MetalLegBob]

The market is now paying for real cash flow.

[Delphi Digital @Delphi_Digital]

Our new report "State of Token Markets" is live!

Most tokens spend their lifetime below launch price.

Across 540+ tokens launched since 2020, the average token spent 70% of its life below launch.

Tokens launched at inflated FDVs with minimal float, which handed the initial pop to insiders and farmers. The typical token underperformed BTC by 7% per unlock. By the tenth unlock that underperformance had compounded to -47%.

Now the model is shifting. Hyperliquid routes 97% of protocol fees into HYPE buybacks. Uniswap voted in December to burn $600M of supply and flip its fee switch, with the burn sized to match the fees holders would have received since 2018.

But buybacks alone aren't enough. Jupiter ran a similar program but had $3.78 in unlocks for every $1 bought back. Hyperliquid has been the outlier since no insider supply was fighting the bid. Buybacks only matter when supply discipline matches them.

Revenue alone doesn't guarantee market cap growth. Pump runs one of the largest onchain buyback programs but that hasn’t translated into durable token performance.

A revenue-weighted portfolio of the top 10 protocols by revenue returned 30% since January 2025 while BTC was down 17%.

The market is now paying for real cash flow.