Cold start liquidity, market maker extraction, and inefficient OTC settlement have held back many of today's onchain derivatives.
@variational_io has the answer to all three.
We spoke with CEO @variational_lvs to hear all about it in this interview:
https://t.co/P6zQHI0Zsf
It's been 6 or 7 weeks and I'm still ~20% of total OI. That number includes the MMs. No additional capital added.
Cheap points should be stacking even if vol is higher weighted. Likely to be a slow grind, but I can't see a reason to fade. https://t.co/CoIYnVPNnY
amazing how a founder can do multiple interviews, partnerships, confirm a token, confirm hidden points, literally be on the screen most of us look at every day, and yet maybe 15 people used it today
amazing how a founder can do multiple interviews, partnerships, confirm a token, confirm hidden points, literally be on the screen most of us look at every day, and yet maybe 15 people used it today
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Yeah, looks like he assumes volume would be the same. Which seems rational. Users trading thru front ends like phantom or telegram shouldn't be sensative to the underlying protocol. And the increase in rev is then driven by lack of base fee tax that hl charges, plus rebates from the partner program. Lower overall fees might actually increase vol, therefore rev.
Both have their own pros/cons
100%. Just started farming variational again yesterday with the same mindset. RWAs going live is the inflection point.
1 month of farming var, then right back to unit.
@0xwildwizard@CryptoZer0_@izebel_eth difficult to know if it's under/over valuation of lit or hype, but there is a stark difference
Fully Diluted Valuation: ~$959M (lit) vs ~$33.7B (hype)
Annualized Revenue: $58.4M (lit) vs ~$1.02B (hype)
FDV / Annual Revenue: 16.4x (lit) vs 33.0x (hype)
Implied @BullpenFi valuation based on @BasedOneX FDV:
120m x 25% / 69.9m = $0.43 per point
You can still pick up BULL points for pennies, just be smart. Even at half of Based's valuation we are good. Good teams are worth a punt.
I made a post more than 3 months ago saying that a successful @BasedOneX TGE would have helped the growth of other HL builder codes
Even though I didn’t farm Based (it was already super hyped and I wasn’t early), I’m genuinely happy for their successful TGE
$BASED launched at a $150M FDV and is now trading at $120M
This is your chance to start farming @BullpenFi, the next big HL and Polymarket builder code backed by T1 VCs
Competition is extremely low and you can earn a meaningful amount of points at a relatively low cost
We've had the proof that also HL builder codes can perform well
CODE: Sipa
don't do earn vaults unless there are big incentives
don't farm dying protocols
don't give your money to opaque on chain hedge funds
don't lend your stables on aave for yields below rfr
don't do hlp/llp sub 15%, for smaller perp dexes you probably want a lot more
aave/sky/ethena/pendle (maybe maple these days) are s-tier for now but there is no guarantee this will remain in the future
fluid/euler/morpho are a-tier, but only if you know how to use them (hint; be the borrower, not the lender)!
every layer of risk adds to the yield you should demand from your strategies
use a hw wallet, rabby for tx simulations, debank for tracking of your funds, and always be careful what you sign
if you are disciplined with these heuristics you will avoid most defi hacks
the sad part is that there are only like two things right now that pass the screener, defi is pretty dead after 10/10 one shotted alcoin buyers
stay safe out there!
@kidponga@ClBlockchain@tradexyz Unit is doing amazing things. By far the best opportunity right now. That $31M assumes volume stays constant even with higher fees, which won't happen (price elasticity of demand). I think it would be around $10m-$15m. Takes nothing away from unit, just prob more accurate.
S3e you at TGE
Farming an S3 isn't sexy like a brand new dex. Especially when that S3 dex is being endlessly beat up, spit on, and dragged through the mud. Much of it self-inflicted and deserved. But with each disappointing launch, the narrative starts to shift.
We are not farming a replacement for Hyperliquid. HL will lead and control the dex market for the foreseeable future, but they won't be a monopoly. Monopolies don't exist in free and open markets. If $hype goes to $100B, you really think dex #2 will be anything less than $10B? Now, what's 5%-7% of that? The math implies it's worth allocating some funds.
We farm the #2 dex before it reaches consensus, while it's easy. Before the points program is displayed on the UI. Before people start taking it seriously. And before everyone stops getting distracted by the gloating across the tl.
Because we know how to read and take a hint.
S3e you at TGE
@linenmito@Absoluto92@variational_io I think you might be doubling it.
I had 500k OI, held 6 days, total 1m volume (open/close) on btc last distro. Received 55 pts.