I think the farming activity right now is very dilluted, contributing go factors that make points roughly $15 per in cost today.
I disagree that we should value at today's cost, when the majority of points had a much lower cost basis to farm for a much longer time period.
My argument is that currently farming vari solely for points is -EV, and the market's willingness to pay for your recklessness (cost basis) is not that high.
It's both that, and the fact that other farmers, other than the current cohort, might be willing to part with their points much more willingly at lower prices due to a much lower cost basis, meeting demand.
“We win when you win” is an easy promise to make when nobody can check the books.
I generally avoid industry drama, but seriously misleading claims deserve scrutiny. Especially when they concern how a prop firm makes money.
For challenge-based prop firms, fees generate revenue and payouts are an expense. A trader making $10,000 doesn’t mean the firm earned $10,000 in the market. An 80/20 split means the firm owes the trader $8,000. It doesn’t mean the firm earned $2,000.
Some firms partially hedge payout exposure. That’s different from fully A-booking every funded trader. Routing trades to an exchange, including your own, doesn’t answer the key question: who ultimately carries the risk? If the firm or an affiliate retains the opposing risk, trader profits still cost that business money.
Crypto’s principles of transparency and verifiability should extend to how firms operate. At @HypernovaX, traders can check fees, payouts and reserves onchain, alongside account records showing bans, restrictions and live pass rates by account type.
The standard should be simple: traders can verify what firms claim. Ours included.
Public launch on the App Store and Google Play: targeting October.
Until then, fasten your seatbelt and start collecting Elios miles ✈️
Rack up enough and you may board before the crowd!