capfree

Switched sides. Building something that should've existed years ago.

[BitMEX @BitMEX]

Yesterday we closed the book on XBTUSD — the contract that started it all.

Launched on 13 May 2016, it was the longest-running perpetual swap contract in crypto. And until we are told otherwise, the longest running derivatives contract of any kind, given TradFi still trades on contracts that expire.

Let's take a trip down memory lane one last time 💔

[capfree @_capfree]

@punkthecoin @cryptopunks Punk 1834 didn't get his drop👀

[capfree @_capfree]

@Marczeller It's a shame things didn't play out differently. Thank you for your service to the DAO, this truly marks the end of an era.

[capfree @_capfree]

Ask yourself one question about your favorite instant exchange:

If they're executing my trade on Binance at market rate — who's taking the other 1-3%?

They are.

No middleman. No market maker. No liquidity cost that justifies it. Just a platform sitting between you and the real price, skimming from every user who doesn't check.

I've watched this model print money for years.

Not for much longer.

[capfree @_capfree]

Here's how most instant exchanges actually work:

Step 1: Fetch real price
Step 2: Add 1-3%
Step 3: Show you the marked-up number as if that's what the asset costs

No breakdown. No disclosure. You just get a worse rate and assume that's the market.

One platform just proved users will move the second they get fair rates — over $100M in volume in the first month. People are checking the math now.

I run systems that track real-time pricing across every major exchange, every pair, 24/7. I know exactly what you're supposed to be getting. And I built something to make sure you do.

[capfree @_capfree]

@nf_suzanne Beautiful Punk 🤌 Congrats!

[capfree @_capfree]

Been sitting on something. Built it because nobody else would — I used to be on the other side of every swap you made. Now I'm on yours.