Topher

Analyzing at @arca

Thoughts are my own and do not reflect the opinion of the fund. NFA DYOR.

[Topher @TopherGMI]

https://t.co/KmsYkZcspv

[Topher @TopherGMI]

Perfect quote from @HesterPeirce today

"Make tools available that empower your users to see what is happening onchain and offchain. Figure out what the right balance of centralization and decentralization is for your project and be transparent with the public about the trade-offs you have made and the resulting risks to users. And, more generally, be honest."

Transparency/communication/investor relations is value accretive to markets (your token)

[Topher @TopherGMI]

Polymarket's jelly jelly moment except on Hyperliquid the bad actor got screwed. Polymarket is screwing all the good actors in this situation.

[willo2 @willo2_Poly]

I was just scammed for $500K by Polymarket.

I am "willo2", the top holder of YES on "MicroStrategy sells Bitcoin by May 31st".

Here's what happened:

[John Wang @j0hnwang]

Incredible to see @arca's $10m Clarity Act hedge with Galaxy priced by Kalshi

Prediction markets are speedrunning crypto institutional adoption

[Topher @TopherGMI]

@ansem @shayne_coplan @rollbit Go point Asnem

[s. s. @Bigtipper]

It’s a k-shaped economy onchain too

$hype $near $lit $zec

[willo2 @willo2_Poly]

I was just scammed for $500K by Polymarket.

I am "willo2", the top holder of YES on "MicroStrategy sells Bitcoin by May 31st".

Here's what happened:

[Topher @TopherGMI]

@econoar Market is self-correcting

[Topher @TopherGMI]

@narcissistsgod @Polymarket same

[VIKTOR @thedefivillain]

Lol a few days ago I was actually considering if that could be a conflict because I knew that the next 8K form would only be available on June 1st.

But iirc the last time this situation happened, it settled in the "logical way", ie YES in this case.

[0xSammy @0xSammy]

If a tree fell in the forest on May 31st, but someone didn't discover it until June 1st, then Polymarket would resolve that the tree fell on June 1st

[Topher @TopherGMI]

@kidponga

[Jeff Dorman @jdorman81]

This is one of the dumbest things I've ever seen. That's the equivalent of saying "a bet on the Bears to win the 1985 super bowl didn't resolve because the newspaper didn't publish the box score til Monday."

No skin in the game, but whatever UMA/Polymarket are doing here is nuts.

[Ray @Ray_L1D]

Brutal sentiment in crypto, but some of the liquid funds we know will have generated their highest alpha month since Aug 2021. Driven by extreme token dispersion. Active is back, and investors are distracted elsewhere.

[Topher @TopherGMI]

@horndogdothl @0xCryptoSam I'm not sure why anyone says Hyperliquid needs KYC. KYC has always been for onramp/offramp. Bc that's where the hypothetical break in the KYC ring fence comes from. HL doesn't host this service which is why you can only transfer in from bank if via 3rd party (where they KYC).

[Sam @0xCryptoSam]

HYPE investors believe the risk of competitors launching regulated perps in the US (e.g., Kalshi) is less destructive than the reward of Hyperliquid legally accessing the US audience (e.g., Robinhood 0DTE traders).

I agree with this assumption.

[Topher @TopherGMI]

If you're a project team that wants help talking through details and execution DM

[Topher @TopherGMI]

So simple and yet many projects still aren't making the switch

What is the value (incl potential value) of the asset I am holding?

People care about holding assets that accrue value... not phantom network value or an overall chain economic value

[Bitwise @Bitwise]

One of HYPE’s greatest features: It’s easy to understand how it accrues value.

h/t @JSeyff

[Topher @TopherGMI]

@ThinkingUSD @saylor @Strategy They have been talking about this on their earnings calls the past two quarters iirc

[HL Eco @hl_eco]

Track @tradexyz's growth at https://t.co/f9vEsxCWJx