grand Sisyphus

journeyed far and wide -- abandoned a place called zero

[grand Sisyphus @grandsisyfirst]

@RobinhoodApp commander to cat in one update.
peak volatility 💀
$USDUC

[grand Sisyphus @grandsisyfirst]

@RobinhoodApp every summit ends the same way.
more access, more traders, more volatility.

$USDUC is building the financial layer around it.
embrace volatility.

[grand Sisyphus @grandsisyfirst]

@RobinhoodApp hood shipped for the people who trade.

$USDUC is for the people who stay for the chaos.
volatility is the product 💀

[grand Sisyphus @grandsisyfirst]

@RobinhoodApp retail got access to markets.
the next question is what to build around the volatility they came for.

that's the $USDUC thesis.

[grand Sisyphus @grandsisyfirst]

@RobinhoodApp more automation → more activity → more volatility.

stablecoins suppress it. options package it. agents will trade it.

$USDUC is building around it.

[grand Sisyphus @grandsisyfirst]

@RobinhoodApp retail just got agents that trade volatility on autopilot.

meanwhile $USDUC is building the financial layer around it.

embrace volatility.

[grand Sisyphus @grandsisyfirst]

@RobinhoodApp options packaged volatility.
now agents execute on it in under a minute.

$USDUC asks the next question: what if volatility itself is the product?

[grand Sisyphus @grandsisyfirst]

@RobinhoodApp options turned volatility into something you can trade.

$USDUC asks the next question: what if volatility itself is the product?

[grand Sisyphus @grandsisyfirst]

@RobinhoodApp probabilities, liquidity, risk frameworks.

most of finance is built to manage volatility. $USDUC is built around it.

embrace volatility.

[grand Sisyphus @grandsisyfirst]

@RobinhoodApp retail got options. now volatility is getting its own culture.

that's the $USDUC thesis.

[grand Sisyphus @grandsisyfirst]

stablecoins are built to stay at $1.

$USDUC is the opposite: a meme coin that treats volatility as the product.

the memes bring the attention. Unstable Finance is being built to give that attention somewhere to go.

come for the memes. stay for the yield.

[Pips @pipsinweb3]

bitcoin already has something most emerging financial systems spend years trying to acquire:

› capital ‹

hundreds of billions of dollars worth of $BTC sit onchain, held by individuals, institutions, treasuries and long-term investors.

but there is a distinction that matters:

› having capital is not the same as having an economy ‹

an economy requires capital to move.

it needs markets where that capital can be borrowed and lent, assets it can trade against, applications it can interact with, incentives that attract participants, and infrastructure that allows all of these pieces to compose with one another.

bitcoin has the capital.

the question is whether it can develop the economy.

this is where stacks enters the picture.

rather than trying to replace bitcoin, stacks is building an execution layer around it:

› a programmable environment where bitcoin can serve as capital and settlement while applications provide the economic activity that bitcoin L1 itself was never designed to host ‹

the ambition is therefore larger than “bitcoin DeFi.”

it is the construction of a bitcoin-native financial economy.

and to understand whether that thesis works, we need to look underneath the applications and examine the rails themselves

[Pips @pipsinweb3]

the unstable nature of decentralization https://t.co/X7a31J2xor

[Pips @pipsinweb3]

at its core, capital markets is an allocation system – which shouldn't be reduced to just stocks and bonds

› it connects capital that is sitting somewhere with people, businesses or systems that can put that capital to work ‹

the world Bank frames the role of capital markets as

› mobilizing savings and channeling procedure investment ‹

every asset getting capital market means that

› the asset becomes sufficiently important and valuable financial infrastructure develops around it so that ownership of that asset can become economically productive ‹

gold moved from valuable asset to financial infrastructure to productive financial capital

financial systems developed around the dollar that allowed it become

– lending capital
– credit
– investment
– liquidity
– collateral

these are all large asset pools which created an economic incentive to build financial machinery around it

bitcoin has already achieved large and economical significance

– large entities with ~ 1M $BTC
– $1.3T market cap
– 99% of total MC idle onchain

this large asset pool ($BTC) has very little financial utilization unlike gold and the dollar

this asset can become

– collateral
– source of credit
– an investment
– a yield-generating position
– a financial claim
– something that participates in broader economic activity

$BTC then moves from merely being owned to a capital that can participate in an economy

that's exactly what stacks wants todo with $BTC – making Bitcoin economically productive

an asset can represent enormous wealth while remaining economically underutilized

capital market create mechanism through which wealth can be

– allocated
– borrowed
– lent
– collateralized
– traded
– invested
– leveraged
– settled

that's why they matter economically

they don't just create places to trade things; they help allocate financial resources towards users who need capital

› when an asset reaches sufficient economic significance, there is a strong incentive to build financial infrastructures that allow it's holders to deploy, finance, trade and extract economic utility from it ‹

this answers the most important question

“what kind of capital market should Bitcoin have?”

› Bitcoin native ones ‹

because if you take $BTC somewhere else to make it productive, you compromise some of the properties that make it valuable in the first place

› self-custody
› Bitcoin settlement
› native denomination

this isn't just an observation about finance and money and capital markets. It's a bridge b/w “Bitcoin is valuable” and “there would be a massive Bitcoin-native financial economy”

[grand Sisyphus @grandsisyfirst]

@ord_net Hey--how do we mint on rd?

[zeroxyz.btc 🏹🟧🇺🇸 @xyzerobtc]

@comiconchain @pipsinweb3 Let’s go

[grand Sisyphus @grandsisyfirst]

It might just be today grandma...

[grand Sisyphus @grandsisyfirst]

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[grand Sisyphus @grandsisyfirst]

Tldcts: Epoch 4.0 goes live.

(too long, didn't care to see)

[Pips @pipsinweb3]

Tldr: Epoch 4.0 goes live.

Up @muneeb

Up @Stacks

[Stacks Endowment @StacksEndowment]

Bullish mode, activated.

[grand Sisyphus @grandsisyfirst]

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[grand Sisyphus @grandsisyfirst]

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