c2ba (🎄,🎄)

- Tech Lead at Nomiks
- Rebuilding Cybertron for Optimism Prime
- Developer & DeFi Degen
- Computer Graphics PhD

[c2ba (🎄,🎄) @celeborn2Balive]

Understanding the dynamics of ve(3,3) bribe market, my first DeFi thread 🧵

A common idea of ve(3,3) is:
- token emissions are expenses
- voting rewards are revenue

And people want revenue > expenses.

I want to show here that this does not help the DEX sustain its flywheel.

[Scale.Farm @Scale_Farm]

BM BASE!

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[RAMSES @RamsesExchange]

https://t.co/5ImN5gEgoT

[Etherex @etherexfi]

Not just another DEX, the Treasury Standard.

Built for yield, built for scale, built to last.

[【公式】Happinet GAMES / Happinet Indie Collection @happinet_game]

🎉#ポピープレイタイムトリプルパック 発売記念🎉
フォロー＆リポストキャンペーン🙌

#PoppyPlaytime グッズ 2万5千円分相当を抽選で2名様にプレゼント🎁

《応募方法》
①@happinet_game　をフォロー
②この投稿をリポスト
期間：9/18～9/28 23:59
詳細：https://t.co/mZVvzMgRW8

[FINAL FANTASY XIV／FF14 @FF_XIV_JP]

日々、冒険者が行き交うこの世界で
あなた自身が主人公の冒険をはじめてみませんか。

ひとりでも、みんなでも。
いますぐ無料の冒険へ！
🌐https://t.co/rgYiy2Ix9V
#FF14 #TGS2025

[Etherex @etherexfi]

The ticker is $ETH
The chain is @LineaBuild.
The DEX is Etherex.

[c2ba (🎄,🎄) @celeborn2Balive]

🔥 Quest live: Catex on SummerFest
🎯 Do task
🤝 Invite friends
💸 Get rewards
🪂 Receive $GENE
😱 Be happy

Don’t be last 🚀 Start now: https://t.co/0TXjxNYxcq

[Catex @Catex_Fi]

Another Catex Pre-Launch Intract Campaign is LIVE!

We’re warming up for TGE with a $5,000 reward pool — including $4,000 in eCATX and $1,000 in USDC.

✅ Complete quests
💧 Provide LP
📈 Earn high pre-mining APR

Join the campaign: https://t.co/VoS3TrU78N

[Orbiter Finance 🛸 @Orbiter_Finance]

Season 3 Memecoin Voting is LIVE.

RT & bridge/swap on Orbiter to get up to 9 votes.

Solana and Sui tokens are newly added.

🦊 $FOXY is champ for 2 rounds - can it win again? Cast your vote and win the rewards.

[Catex @Catex_Fi]

Catex x Intract Pre-Launch Campaign!

1⃣Complete Social quests
2⃣Provide & stake $20+ LP
3⃣Earn high APR & win from $2,500 in rewards

🎁 100 winners
📅 Duration: April 30th - May 21st
💰 $2,000 eCATX + $500 USDC
👉 https://t.co/Mfe8n6uJZL

[DMH 🦇🔊🌊 @DeFi_Made_Here]

If this proposal passes, it would be the rug pull of the year. Everything is wrong with it:

1) Why would you sell your business to Synthetix - a failed and totally nonsensical protocol to begin with?

2) Especially considering that Derive (ex Lyra) was part of Synthetix and left precisely because it knew, better than anyone, that Synthetix is bad.

3) Derive is generating more revenue than Synthetix itself and actually has a future if execution is solid and the team’s promises are not fake.

4) Synthetix isn’t even buying Derive with real money. They’re minting ~30 million SNX out of thin air to make the purchase. Genius.

5) The funniest part? Synthetix won’t just acquire Derive’s operations and tech, it’ll also take over its treasury, which is currently ~$6 million. If you try selling 30 million SNX on-chain, you’d be lucky to get $1 million USDC. That’s an easy 6x profit for Synthetix from tokens they printed for free.

6) Let’s not forget that Lyra was previously valued at $150M FDV before it launched a new token for Derive, for absolutely no reason other than raising another round from angels and @echodotxyz (btw, -90% ROI probably the worst Echo deal ever?) and rekting token holders (aka lock lyra to get bigger derive airdrop, choose vesting and get more, etc etc).

7) Now, after the rebrand, the valuation is down to ~$25M and things are so bad that a Synthetix acquisition is even being considered.

I have no idea how someone can justify selling Derive to Synthetix for no real money and fkin vested for 1 year (newly printed snx that is worth nothing and there are chances that in 1y snx might not really exist at all). Either your business is so bad that there are no good buyers for it, or this is a crime season.

I understand that Derive is in a bad spot (lost all valuation, lacking adoption, etc etc) but you are very vocal that your product is one of the best, you still have big enough treasury to have a few years of runway.

Keep working and if you really think you need to sell the business to survive, at least find a good buyer. Mountain protocol is a great example. They didn't have much traction but they got acquired by a big tradfi business that is aiming to expand into defi massively and they need defi expertise.

[lito @litocoen]

ngl as a large $DRV holder im a bit disappointed with this proposal

the valuation seems unfairly low and i think the community should pushback and ask for a longer timeperiod to find out if there are other prospective buyers with better offers

to be clear, i do see why an acquistion makes sense for Derive

the derivatives space is heating up and it is very difficult for projects to stand out and reach scale

at the same time m&a activity is sky rocketing as large, well capitalized players with established distribution channels are using the momentum to push into new verticals

options are poised to grow significantly over the next few years as tradfi enters crypto - the $2.8b deribit acquisition by coinbase has made this crystal clear

although i am doubtful synthethix offers the distribution derive needs to scale, it does have a large brand, a liquid token that is listed on all major CEX's and a fairly big warchest

with the derive team and the tech they've built over the last few years, i think synthetix has a 10x better shot at becoming a major player in DeFi again

so i do see why the acquisition makes sense from synthetix's pov but the price is too low imo

27m valuation or 21.7m net of treasury asset ( - 4m of stablecoins and ETH, - 1.3m of OP) is very low imo

and i say this only because i truly think @nickforster @earthtojake_ et. all are one of the most based and fastest shipping teams in crypto

nick was working at one of the largest market makers in tradfi and knows more about options than anyone in crypto and jake is a product beast from whatsapp - at the same time they're crypto native and locked in af

yes derive has so far failed to build the traction they need to be long term sustainable but try the product and you'll understand that it kicks ass and in combination with the team around it - is worth much more than $20m

especially when you consider this comes in 1y vesting $SNX

pretty sure a hyperliquid or other big player could be interested in entering the options arena so my only ask would be not to rush this decision and hear out what other players have to say

anyway i am sure we'll hear more from the team in next few days

[NewThrone on Base @newthronegg]

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Grab our bundles while you can...

[Optimism Prime 🤖🔴 @Optimism_Pr]

Autobots, time to regroup on @base for the next battle !

Steal that $THRO from Decepticons and stake it on @ImpermaxFinance or farm with it on @ScaleOnBase

Be early for the next @base p2e szn !

[NewThrone on Base @newthronegg]

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Start for 122 THRO(~$3.5)
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🗡️Fight here: https://t.co/p0VvfuPRue
@base @ScaleOnBase @ImpermaxFinance

[Impermax @ImpermaxFinance]

Impermax V3 is live! 💫

If you like high yield : like, retweet... and start earning 👇

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[NewThrone on Base @newthronegg]

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It's been a while, but even in the current crypto market, THRO is charging forward!
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[c2ba (🎄,🎄) @celeborn2Balive]

Long, increase leverage, share pnl.

Valhalla (@valhallaperps) is innovating on-chain perpetuals enabling new opportunities and juicier yields on the MegaETH ecosystem.

Just joined the waitlist and stacking alpha in real-time.

Join here 🦅 https://t.co/vKWsfKC6bH

[Rainbow Foundation @RainbowFND]

tokens are cool

[Spot Zero @SpotZero_Game]

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