Pheor

Decentralization

[Pheor @_pheor]

@surfcoderepeat would @orbiodotso make sense for $imd? would love to also get your thoughts on this @0xfinne and @LastToSign

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@MatthewBerman @bot Oh man couldn’t afford it for now but I so wanted to try it out

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@LegacySiu Ibrahimovic

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@absolutkylian Hazard

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@Yamal_010 Mbappé

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@absolutkylian Robben

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@LegacySiu Suarez

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@KyleSamani @Shaughnessy119 It takes too much time & effort for non technical people to build a fully functioning piece of software w/ Claude code (you need to understand how to piece frontend, backend, hosting, authentication, payments etc together) while Lovable makes all of this very easy

[Pheor @_pheor]

@unitintern @0xsudogm Can’t wait for Unit’s ICO that only HYPE airdrop recipients and top Unit users will be able to participate in. And then launch on Hyperliquid spot obviously.

[Pheor @_pheor]

@ethimedes @game_for_one @DCGco @ycombinator This is preventing me from investing. Do you know more about this?

[Ryan Watkins @RyanWatkins_]

When I first underwrote Hyperliquid, I assigned little value to builder codes.

I now believe it’s one of the most important features that enables Hyperliquid to outcompete CEXs.

The thesis is simple: builder codes enable Hyperliquid to scale distribution faster than any competing exchange.

Hyperliquid gives every front-end an offer that’s hard to refuse by embedding an unruggable fee sharing mechanism.

While other exchanges hustle to onboard taker flow themselves, Hyperliquid has an ecosystem of front-ends all working for it.

This means you get magic moments like onboarding 10M+ Phantom users in one-shot. In the future this could mean a large regional fintech offering access to Hyperliquid in their users’ local language.

Once HIP-3 launches the flywheel this will kick into overdrive as third-party developers will be able to spin up their own markets as well.

How can any CEX outcompete a swarm of developers all competing among each other to onboard new users, and create the best new markets?

Stocks, prediction markets, commodities, and more. Portfolio margin, yield-bearing stablecoin collateral... the combinations are endless.

The everything exchange will come to life faster than you think.

[Pheor @_pheor]

@0xLunic @blknoiz06 BEw4TRAZjQ98sH4sZmHXnfCwGogLbgc3e4vwMCpSbonk

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@leinadpark @im_roy_lee @cluely Very good @believeapp candidate

[Erik Voorhees @ErikVoorhees]

Don't fret, brother.

Crypto is, and has always been, 99% nonsense grifty garbage/scams/jokes, and 1% fundamental global financial system revolution.

But this 99/1 is based just on quantity of projects.

Considered by market cap, it's more like 75% quality, 25% nonsense. Bitcoin is good. Ethereum is good. Stablecoins are good. Several dozen defi projects are good. Wildly cool technology permeates through all of it, and sound economics underpins its long term growth, though the short term feels often like an appallingly irrational market.

How to cope with this dichotomy?

Embrace the degen frontier and have fun, and recognize that amidst it all, a decentralized financial system is real, is important, and is working. None of it is forced on anyone, after all.

We are building and we are attracting the world toward us... and much of the world simply wants to gamble and have fun. This is okay, and actually provides capital for the important work happening behind the casino.

It is, actually, working.

We are realizing the wildest dreams of those who are into it for all the right reasons, despite the accompanying fantasies of those who aren't.

Just keep building, and build well.

[Pheor @_pheor]

@Rodairos When does it open exactly? I want to make sure I’m the first one to DM. Also, we can only send you a DM if we’re verified (or if you follow us already)

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@cryptoklotz https://t.co/wbMRuKRS95

[fejau @fejau_inc]

It's important to view the dot plots not as a future forecast of a events, but a psychological tool used to try and talk the market into an outcome it wants today, not in the future.

Fed forced itself into cutting this week so is using a hawkish 2025 FFR dot plot forecast to talk down long bond yields despite cutting today.

Since January was already priced for a pause and no meeting in February, the Fed has bought themselves time to allow further data to come out before they actually make a move and stop long bonds from getting too unruly at the cost of the 2yr.

Can almost guarantee you 2025 will not occur as is forecasted in their dots, but is instead a mechanism they can use to talk down markets without having to actually do anything.

Welcome to macro psyop warfare. Smoke and mirrors baby.

[Pheor @_pheor]

@iamfra5er I have customers but for now I sell the leads as a service, no direct paid access to a database (yet)

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@RyanWatkins_

3) Or could L1 tokens be seen as ETFs of the underlying apps from their respective ecosystems, with people still betting on them as the fat app thesis plays out?”

[Ryan Watkins @RyanWatkins_]

TL;DR - Chain abstraction and smart wallets are reviving the 2017 @jlppfeffer thesis on ETH being working capital and suffering from the velocity problem.

Imo this means one of two things.

1) All L1 tokens are extremely overvalued and should be valued on the basis of fees (MEV, Execution, DA, etc) which are comically low.

2) All L1 tokens are directly competing with Bitcoin as a non-sovereign digital stores of value (perceived differences are primarily narrative) and to succeed they must create sticky demand for their native assets within their onchain economies

[Pheor @_pheor]

@soleconomist What about a mechanism such as what I think @cobie mentioned recently where airdrop recipients have first dibs on buying the token at that FDV ($50m)?