I hate to rain on everyone’s parade, because I really do believe in tokenizing financial securities on general purpose blockchains. But these stats everyone keeps posting about massive onchain stock volume deserve context.
The *vast* majority of onchain stock volume is coming from a handful of AMM pools with swap fees essentially set to zero. That makes it dirt cheap to trade, despite these pools having <$1mn of liquidity.
Within these pools, 95%+ of the volume is coming from around 10 bots that just flip a small position back and forth again and again
Again, not trying to say onchain equities aren’t a very important development. But any time you see a chart like this for any sort of metric in crypto you should drill down into the data. Almost all crypto stats don’t mean what you think they mean at first glance
@ImperiumPaper@ammori@newmichwill@jeffjohnroberts I think he's saying the truthfulness is implied? Feel like you just ask about the amounts/price if that's what you are really trying to get at (I am curious too!)
i've been thinking about this for quite a while now and this is pretty much my conclusion which is p sad; but maybe it's just the natural pessimist in me
A founder who's purely profit driven will never build decentralized systems, period. It's never efficient in the short term and increases chances of the startup dying early.
I know zero cases of the opposite happening unless it's for reg arb purposes, but even then, bribing (lobbying) is arguably more efficient.
It somewhat works in crypto because of Bitcoin's generational success that brought a valuation premium to all of the products.
But outside crypto, it doesn't make sense to build decentralized/trustless systems unless you're ideologically motivated.
delay as many decisions as possible to get to market as quickly as you can
so many decisions are fundamentally impossible to make until you get market data
This is a lie.
Frankly, we hate responding to things like because it's stupid and it makes all of us look petty.
But you have all been doing this pretty consistently (both during our announcements and now apparently during yours) and this is blatant.
Tarek did not say this to you. Tarek also have never said this to anyone Kalshi.
Tarek wanted to give you a chance. So we took you as an external contractor in a separate slack channel. We did not trust you because of 1) your references and 2) you were saying negative things about Polymarket, who you had a relationship with.