NoeticVeil

NoeticVeil Seeker behind the veil. Mind in shadow, soul in balance. Philosophy. Crypto. Psychology. I don’t speak loudly — I echo deeply.

[NoeticVeil @NoeticVeil]

If anyone wants to be part of my journey from $1k to 100k on fomo here you go.

Use this link to get 10% discount on fees bros.

https://t.co/H6S47avwXW

[NoeticVeil @NoeticVeil]

@tryfomo Code for receive best beta in fomo :

ZDBQY8

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[NoeticVeil @NoeticVeil]

@tryfomo 0CBQQZ

Here you go 🤭

[NoeticVeil @NoeticVeil]

@scamr_io 43cbsqe2TeQEoWE4Q2Zk6xg7FxA4Hz4s8VShYy1tWF2x

[NoeticVeil @NoeticVeil]

@0xTojo No.

[NoeticVeil @NoeticVeil]

@maybectrlfreak Bro thats so strong LMFAO

[NoeticVeil @NoeticVeil]

@smileycapital Lmao, I can understand a lot, but that is not understandable at all.

[NoeticVeil @NoeticVeil]

@Palgrani2 Send it $bro

[NoeticVeil @NoeticVeil]

@nosanity37 That’s what we need to hear, bro

[Insightful @info_insightful]

Is $JLP the premium safe haven asset of this cycle?

What is JLP and why is it attractive to so many people?

JLP is not a stablecoin, it’s a structured product from @JupiterExchange on SOL similar to @GMX_IO 's GLP on Arb and AVAX, which surged in popularity in 2022/23

JLP is composed of a basket of assets with the following weightings:

~45% SOL
~10% ETH
~10% BTC
~26% USDC
~9% USDT

JLP serves as the liquidity and counterparty for these trades, when traders seek to open leverage positions, they borrow tokens from the pool

Thus the price of JLP primarily depends on three factors:

1/ The value of its underlying assets (BTC, ETH, SOL, USDC, and USDT)

If BTC, SOL, and ETH increase in value, so does JLP, (though to a lesser extent since around 35% of it consists of stable coins)

2/ Fees paid by traders

3/ Trader PnL (more profitable traders = more funds taken from JLP vault thus less APY)

75% of all fees generated by traders on Jupiter’s perpetuals go to the JLP vault

This results in an APY that varies from around 25-50%

Additionally, JLP acts as the counterparty for trades on Jupiter

If traders are profitable, gains are paid from the JLP vault, and if they incur losses (statistically majority of trader will lose money), those are added to the vault

How has JLP price performed year to date (YTD)?

TLDR - basically up only from $1.78 to $3.25 this year alone due to underlying asset appreciation and fees collected from traders

But how does JLP compared to the majors its composed of?

One way is to look at it on a volatility-adjusted basis

Risk-adjusted return (Sharpe ratio) = YTD price performance - risk-free rate/volatility

A higher Sharpe ratio= a better risk-adjusted return

As shown in the table, JLP is significantly less volatile compared to simply holding BTC, ETH, or SOL, and has thus outperformed them on a volatility-adjusted basis YTD

Image source and Sharpe ratio analysis from - @ThorHartvigsen's newsletter

Risks?

Holding JLP = exposed to smart contract risks (standard risk for everything in defi)

If traders become highly profitable = JLP price goes down

Whats the main takeaway?

If you are still net long on this cycle (I think most are until mid to late 2025)

Then I see this as a passive way to park profits and maintain exposure to the 3 majors while also defending against the downside as ~35% of the assets weighting is in stables

Market just nuked 15%+ on majors = time to DCA into JLP

Bonus on top is the pretty decent APY and the potential that this helps you qualify for future seasons of Jupiter airdrop (believe S2 of 4 is slated to happen Q1 2025)

This post is NOT sponsored I'm just a fan of JLP for reasons mentioned above, it feels like one of the best products and assets in brypto right now, but I'm always open to counterpoints

I know there are also JLP maxis out there like @TaikiMaeda2 and @katexbt and many others who also share a similar sentiment

[NoeticVeil @NoeticVeil]

@The__Solstice Turns out you are 100% gay bro, sry imo

[NoeticVeil @NoeticVeil]

@PrimordialAA You are right, being present (on chain) and create activity is a great multiplier. This shows some appreciation to the project and supports it. :)

[NoeticVeil @NoeticVeil]

@zksync Yes pls

[NoeticVeil @NoeticVeil]

@legendabruzy hope is rising

[NoeticVeil @NoeticVeil]

@Cobratate Happy birthday, Top G, your real world changed my life. I really appreciate what you did and what you are doing. Keep it up. The world is changing. Slowly, steady, consistently.

[olimpio @OlimpioCrypto]

Kyberswap is being drained, several sources report.

If you have assets, withdraw

[The DeFi Investor 🔎 @TheDeFinvestor]

This week's DeFi developments👇

Uniswap Labs announced a 0.15% interface fee for swapping certain tokens. The fee was introduced to fund Uniswap Labs’ operations

BNB Chain launched the BNB Greenfield Mainnet. BNB Greenfield is a decentralized data storage network that offers fast uploads & downloads

Taproot Assets launched on Bitcoin, enabling to issue financial assets on Bitcoin in a scalable manner. The next step is now to make the Lightning Network a multi-asset network

Scroll, a native zkEVM L2 for Ethereum, launched the mainnet. It attracted >$5M TVL so far

DefiLlama launched a new browser extension that prioritizes safe domains. They did this because a huge amount of money has been lost to scams on Google ads

Manta Network announced the transition of its network to an Ethereum zkEVM using Polygon CDK

Unibot introduced its ecosystem fund and announced that it will start to buy back $UNIBOT from the market. The tokens bought will go to the ecosystem fund

LayerZero went live on OpBNB and Scroll. opBNB is a L2 built on top of BNB Chain

IPOR V2, a new iteration of the IPOR Protocol, has launched. It comes with a better dApp UI, a stETH pool, 3-Month Swap Durations, and much more

Lido is shutting down stSOL, a liquid staking solution for SOL, due to high development costs.

Reddit announced that it’s winding down its blockchain-based “internet points” program. The company has stated that it’s doing that because it was difficult to scale

dYdX announced that it won’t generate trading fee revenue from dYdX v4 anymore and updated its charter to become a Public Benefit Corporation

Pyth Network announced the launch of PYTH token and its token distribution

Celestia Genesis airdrop concluded with 191,391 total claims

And that's all for this week.

If you like this post, a like & a retweet would be much appreciated🫡

[NoeticVeil @NoeticVeil]

@defi_nosanity @an6y_jpg @metamenft I appreciate it very much!

[NoeticVeil @NoeticVeil]

@an6y_jpg @metamenft I for sure will nominate my best friend @defi_nosanity. The guy is a new guru in nft, deFI and airdrops. Gives best advice about these topics no matter who you are , a beginner or advanced crypto financier.