PKFire

We were just seeking freedom.

[PKFire @_pkfire_]

base:0x9b5e262cf9bb04869ab40b19af91d2dc85761722 isn’t just an AI mining story.

It’s a bet on turning useful, verifiable, programmable compute into part of network security.

I made a short explainer on why I think that matters.
Competing for compute.

[PKFire @_pkfire_]

gm ☀️

Bitcoin at $83.7k this morning.

Overnight dipped back toward $82.7k.
Bounced.
Monday's low around $82.6k held again.

Still under $85k.
Quiet books after yesterday's noise.

[PKFire @_pkfire_]

@tokugawasuprema Send it ser. Nocktober.

[PKFire @_pkfire_]

@Zeesh_H3 Nocktober loading

[PKFire @_pkfire_]

base:0x9b5e262cf9bb04869ab40b19af91d2dc85761722 isn’t just an AI mining story.

It’s a bet on turning useful, verifiable, programmable compute into part of network security.

I made a short explainer on why I think that matters.
Competing for compute.

[PKFire @_pkfire_]

@younweb3 Ready to buy some dips ser.

[PKFire @_pkfire_]

gm ☀️

Bitcoin at $83.2k this morning.

Overnight it lost the Sunday bid near $84.7k and swept down toward $82.7k, right into the liquidity cluster.
Still under $85k after yesterday's reject.

$85k back is still the ask.
Until then, Monday is the first real volume day under a failed reclaim.

[PKFire @_pkfire_]

Machine bonding is live on peaq-2:native .

Activate → pick a USD tier → oracle settles it in peaq-2:native → non-tradeable Economic Weight.
Renewals add bond. Exits are designed to burn 50% of what's left (burn address not configured yet).

2.3M machines / 16M PEAQ bonded so far, mostly foundation-funded migrations. The real signal : whether new bonds start coming from the market.

[PKFire @_pkfire_]

I care more about destroyed supply than today's candle.

StonkFun :
$27.1M in revenue
$16.2M already spent buying solana:6GmAFSYs4gk3FDao5FzzySQpPZaWsa4rUJHacpMpUNgx
169M tokens burned
60% of platform revenue keeps feeding that loop

Last buyback was this morning.

Real revenue shrinking the float every day is exactly the setup I want to own.

[PKFire @_pkfire_]

@nockmilio333 @nockchain Nockmilio

[PKFire @_pkfire_]

Price is noisy. Infrastructure is the signal.
The network keeps getting stronger. base:0x9b5e262cf9bb04869ab40b19af91d2dc85761722

[Logan @loganallc]

This is what a maturing network (base:0x9b5e262cf9bb04869ab40b19af91d2dc85761722) looks like.

See the key metrics for yourself at https://t.co/8qTluoE2f7

[PKFire @_pkfire_]

ethereum:0x1eef208926667594e5136e89d0e9dd6907959197 Economics 2.0 is live (Phase 1, since Sep 7). What it actually does :

Machine activates → base:0x9b56b112bbd6343a8961a093315a9a60b8cb1f36 gets bonded to it
Machine renews → it stays bonded
Machine exits → bond decays, 50% burned / 50% to treasury

15.6M peaq-2:native bonded across 2.2M machines so far.

Honest read :
- most early bonds are foundation-subsidized migrations, not fresh demand
- burn address isn't set yet, so nothing has actually burned
- real test = operators bonding with their own money, and renewals

Good sink design, early data. Holding $PEAQ

[PKFire @_pkfire_]

Quick $ENA map on the actual news :

USDe yield was never "magic APY."
It's a basis trade : long spot + short perps.

Now Ethena is extending that into tokenized US equities via Binance bStocks (long the stock token, short the equity perp).

Why it matters : crypto funding got crushed. They need a bigger venue set if USDe is going to keep earning without leaning on emissions.

What I'm watching :
→ how big the equity-basis sleeve actually gets
→ custody / issuer / side-letter risk on the spot leg
→ weekend + earnings gaps (equities ≠ crypto 24/7)

Holding $ENA. Watching the mechanism.

[Ethena @ethena]

Ethena is partnering with @Binance as our first venue for the extension of the basis trade into equity perpetuals, one of the most exciting updates to the USDe collateral backing since launch.

This expands the addressable market of underlying collateral from $2.5 trillion of crypto to $150 trillion+ of real-world assets.

As part of the partnership, bStocks will serve as tokenized spot collateral, hedged with Binance USDT-denominated equity perpetuals - the same delta-neutral structure Ethena has securely executed across crypto assets since inception.

Importantly, Binance provides lower ADL priority for eligible delta-neutral accounts including Ethena's, adding another layer of risk mitigation for USDe holders.

Binance equity basis has averaged ~11%+ annualized over the past 6 months, while open interest has grown on average ~30% per month in the last 3 month period.

We expect the market opportunity size for equity perpetuals to far exceed the $15b+ of crypto perpetuals captured by Ethena last cycle.

Allocations begin today.

[PKFire @_pkfire_]

gm degens ☀️

Bitcoin at $84.5k this morning.

Soft overnight bid from the Saturday flat.
Still under the $85k shelf.
Overnight range roughly $83.8k–$84.6k.

Reclaim $85k is still the ask.

Until then it's Sunday chop.

[PKFire @_pkfire_]

AI has a compute problem. Crypto has a trust problem.

base:0x9b5e262cf9bb04869ab40b19af91d2dc85761722 is interesting because it sits somewhere in between.

Imagine I pay a stranger’s GPU to run an AI workload.

The hard part isn’t getting the answer.

It’s knowing they actually ran the computation correctly, without rerunning the whole thing myself.

That’s where proofs change the game.

Instead of:

“Trust me, I did the work.”

you want:

“Here’s the result. Here’s the proof.”

Nockchain already makes proof generation part of mining.

Its Lockstep research is now exploring another piece of the puzzle : making transformer inference deterministic enough to be reproduced bit-for-bit across different hardware.

Put those ideas together and you start to see the bigger thesis :

compute → prove → verify → pay

Not there yet.

But if decentralized compute has a future, I think verification will matter just as much as compute itself.

[PKFire @_pkfire_]

Yesterday was about Covenants : encrypted instructions sealed to a condition.

Different product :

Nillion's Blind Computer is the stack.
nilDB + nilCC + nilAI.

Private data.
Private compute.
Private AI.

Most privacy narratives sell one feature.

This is trying to own the full path from data to inference.

That's why ethereum:0x7cf9a80db3b29ee8efe3710aadb7b95270572d47 stays interesting beyond the candle.

[PKFire @_pkfire_]

I think $Ondo shipped something bigger than it looks.

Intelligent Portfolios :

a full portfolio in a single onchain token.

The first three use strategies BlackRock designed for Ondo.

Ondo issues and rebalances them, and the rebalances are visible onchain.

Transferable, composable in DeFi.

Tokenization used to mean one stock, one token.

This is portfolio construction as a token.

[Ondo Finance @Ondo]

Introducing Ondo Intelligent Portfolios, the first three portfolios powered by BlackRock.

Ondo Intelligent Portfolios introduces a new onchain product category: curated investment portfolios delivered as single onchain transferable tokens.

The first three portfolios are based on portfolio strategies developed by BlackRock for Ondo, marking the first time eligible onchain investors can access exposure to such strategies through a single token.

1. BLKHIon: Ondo High Income Powered by BlackRock

2. BLKDIGon: Ondo Diversified Growth Powered by BlackRock

3. BLKGRWon: Ondo High Growth Powered by BlackRock

Diversified, professionally constructed strategies have historically required brokerage accounts and traditional fund structures. Now, delivered as peer-to-peer transferable tokens from Ondo, these onchain portfolios become accessible to eligible non-US investors in permitted jurisdictions through the wallets, exchanges, and DeFi applications they already use.

“Tokenization creates new ways for portfolio strategies to be delivered through digital infrastructure. Diversified portfolio strategies can be incorporated into tokenized investment products, enabling eligible investors to access diversified allocations through a single instrument. It shows how established portfolio construction approaches can be delivered through new channels and technologies.” - Lisa O’Connor, Global Head of the Model Portfolio Solutions team and Co-CIO for Global Solutions within the Multi-Asset Strategies group at BlackRock

Ondo Intelligent Portfolios can unlock novel capabilities:

→ Programmatic rebalancing
→ Full composability with DeFi
→ Complete transparency onchain
→ Multiple asset classes in a single token

This is just the start for Ondo Intelligent Portfolios. The infrastructure is now in place for leading financial institutions to bring their asset allocation expertise onchain.

[PKFire @_pkfire_]

gm degens ☀️

Bitcoin at $83.9k this morning.

Still under the $85k shelf.
Yesterday rejected near $85.2k.
Overnight was quiet, basically flat.

Reclaim $85k is still the ask.
Until then this is just Saturday chop.

[PKFire @_pkfire_]

@nocktimism Gnock ser

[PKFire @_pkfire_]

Nocktober loading.

base:0x9b5e262cf9bb04869ab40b19af91d2dc85761722

[PKFire @_pkfire_]

https://t.co/H1WIRjl91E

[PKFire @_pkfire_]

Quick $ENA map before Oct 5 :

1) Fee switch : approved
2) Buybacks : gated on $7.5B USDe (current supply is $4.9B)
3) Unlock : remaining investor tokens clear Oct 5

Holding $ENA and watching how it all unfolds.