cbus

[cbus @cbus224]

How does $SNDK not fully retrace back to like $800?

[cbus @cbus224]

Let the full RWA rollout happen. When the comparisons move from extended/lighter to hype/unit, that's when we all eat.

[DefiLlama Research @defillama_res]

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

[cbus @cbus224]

@topio22 @MingoAirdrop they rewarded trading on core when it was (and still is) blocked in some countries

[cbus @cbus224]

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

[cbus @cbus224]

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

[cbus @cbus224]

Some people will see this and go right back to farming risex, hotstuff and nado.

[s @sershokunin]

👀 @tradexyz @HyperliquidX

[cbus @cbus224]

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

[cbus @cbus224]

could be wrong, but i don't think @GMX_IO is going to help @megaeth hit their KPIs...

[GMX 🫐 @GMX_IO]

Now LIVE: GMX on @MegaETH, the first real-time chain:

🔸Trade BTC, ETH & SOL perps permissionlessly

🔸Earn yield by providing $USDM to GMX's new stablecoin GLV vault

🔸Set your ref code, invite friends, and earn

Stability first; more speed optimizations coming soon:

1/🧵

[cbus @cbus224]

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

[cbus @cbus224]

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.

[cbus @cbus224]

@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)

[cbus @cbus224]

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.

[Sipa @SipaAirdrop]

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

[cbus @cbus224]

@tradexyz

[cbus @cbus224]

ok, so it was just a post about daily trade volumes

until next time...

[cbus @cbus224]

This is the kind of edging that keeps me in crypto

Send $UNIT to $5b

[USD Denominated @YouAreMyYield]

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!

[cbus @cbus224]

@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.

[cbus @cbus224]

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

[Lighter @Lighter_xyz]

At Lighter, we have taken many lessons to heart from previous experiments in tokenized governance. We are doing things differently 🧵

[cbus @cbus224]

@BlurCrypto people are farming smarter

volume is down but OI is up $240m in the past month

[cbus @cbus224]

@linenmito @Absoluto92 @variational_io Yeah, it makes sense to me

[cbus @cbus224]

@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.