Matt.hl

hyperliquidity enjoyer | full-time smoothbrain

[Matt.hl @intensivevoyage]

For people to "believe in tech" incentives have to be aligned to reward believers

The Hyperliquid guys get it, some other teams and meme cults do

Community ownership is at the heart of every crypto success story and we haven't seen that many of them this cycle

Still early imo

[Matt.hl @intensivevoyage]

Polymarket bros making it out of 2-fig hell with this one

Flexing $22 in profits is straight up depressing content honestly

[PolyMax 💎 @Maximilian_evm]

Building my position in the Ink FDV market and earned $22 in daily rewards just for having open orders.

Free money while trading? Yes, please.

[Matt.hl @intensivevoyage]

@BasedOneX @hyenatrade gold farmers not eligible?

[thiccy @thiccyth0t]

one nuance about the hypergambling trend is that even though the share of the population that wants to hypergamble is rising, the share of capital they have is falling even faster, so most of the opportunity is in capitalizing on one off redistribution events

[Matt.hl @intensivevoyage]

@jrugss No idea what people are paying here for either. Hyperliquid PWA gives so much more info and control over trades at literally no cost

[Matt.hl @intensivevoyage]

Don’t get why every frontend aims to abstract complexity where it’s most needed

They removed every bit of info retail could use to have edge: orderbook, candlestick charts, indicators

It’s pretty but it’s not made for trading. Somehow Hyperliquid PWA is still unmatched

[🐧 @Pentosh1]

one of the largest companies in the world is now officially supporting @Dreamcash. Do with that what you want. In the meantime there's 200k a week in pool prizes + points

[Matt.hl @intensivevoyage]

@ZeMirch Not only that, but an increasing amount of “good new things” leak very little upside to retail, e.g. $PUMP only produced a ~2-3x despite being an app that very much defined this cycle

[Tulip King 🌷 @tulipking]

If you think Crypto is dead or solved you’re stuck in the last meta & not working hard enough to see the new games in front of you.

It's not cards, it’s new internet markets built on open infrastructure. The game doesn't end. The only problem is you thought it would be easy

[Matt.hl @intensivevoyage]

I genuinely struggle to understand why it should be worth anything above like 60-80M FDV

Even if they decide on a rev share, the margins for an aggregator kind of product are so low the rev share might actually be bearish

[Picolas Cage @Picolas_Caged]

Agree with wale here.

$300M FDV with tokens locked for 1 year - have Infinex promised anything exciting about their token?

Maybe a rev share model?

Promises of buybacks?

$300M is pretty high - if they want retail to have more appetite, offer us lower valuations to invest at.

Maybe retail are just bored of being exit liquidity - we need to actually win once in a while you know or else this whole thing dies off into niche obscurity pretty quickly lol

[Matt.hl @intensivevoyage]

Solid 30D performance. Have zero clue where the market is headed, so stuck with fading LTF overreactions in either direction

Discretionary sizing and management using BTC PA for context. Keeping entry and exit logic systematic

Posting as a future reminder I got that dawg in me for when times get rough

[Matt.hl @intensivevoyage]

@AzFlin Pretty cool imo. Unlocked investors are more likely to stick around instead of selling their allos. Steady price after TGE could serve as an advertising tool and lead to new ppl bridging over

[Matt.hl @intensivevoyage]

@0xasrequired @MrkoalaTRD @bread_ Yeah agree w this 100%. HL does have the resources (both tokens and revenue) to support the eco and it’s strange they’re not doing it yet

Would love to see AF buybacks directed towards new projects, although I do think plain TWAPping the tokens is not the way

[Matt.hl @intensivevoyage]

@MrkoalaTRD @0xasrequired @bread_ This. Most HyperEVM tokens are just copying old playbooks on a new chain

Couple this with the fact they’re all competing for liquidity w HYPE that has a perpetual TWAP from AF and it’s kinda obvious why they’re not getting a bid

Designing better tokens is the only solution

[Matt.hl @intensivevoyage]

>lists the only two most crowded, most obvious and lowest-effort trades in the space
> “Yeah, every crumb of edge is getting arbed out”

What are we even doing here man

[Matt.hl @intensivevoyage]

The sooner you retire the idea of passively holding something for a 100x, the sooner you’ll realize this space is still ripe with opportunity

The only people who should be worried about changing market structure are path-sensitive perp traders

For everyone else, it’s the same old game of being early to good new things. Fundamentally there’s no reason why explosive growth in select assets or stimmy checks should be going away anytime soon

[Grant @Grantblocmates]

a few thoughts on the industry

you can no longer turn up every few years and get a stimulus check

the crypto markets matured the minute spot etfs went live, market structure has completely changed

for a lot of og bitcoiners what else was there to achieve? the spot etf, suits finally buying the bag?

maybe nation states?

for anyone who’s not doing this all day everyday there’s probably only bitcoin worth buying long term

you can and will still get huge outsized returns from a select few sectors and alts, and for that you need to stick around

markets are just hitting a maturation stage where it shouldn’t be easy to make money (for the majority)

the pool of people who will stick around will run their portfolio to zero or they will be extremely sophisticated and do well in short bursts

widening your investment scope is +ev particularly with more access to certain offchain assets whilst remaining onchain

if you hit multiple xs on a position and it’s got a viable business underpinning it, it’s worth keeping a small amount of that whilst removing initials and some profit when the time is right

protfitable businesses using crypto rails will be fine medium and short term as they can survive any chop and not rely on token issuance

there will be explosive growth in sectors that don’t exist yet

[Matt.hl @intensivevoyage]

@follis_ Never thought I’d be bidding aster, of all things, near a local bottom but here we are

[Matt.hl @intensivevoyage]

@princebtc28 My base case is the majority now gets conditioned into scalping, so we can run the “believe in something” playbook yet again somewhere down the line, leaving class of 2025 sidelined and chasing

[Matt.hl @intensivevoyage]

Ngl didn’t quite expect HLP to look like this with market bleeding

[Matt.hl @intensivevoyage]

@smileycapital Agree that it's not very tradable but don't think it's a sign of toxic flow at all, more so middle-of-nowhere prices. Positioning is fairly neutral and CT sentiment all over the place too, so no one to trap here either (except for complacent bagholders, as per usual)

[Matt.hl @intensivevoyage]

Felt the same way throughout 2022-23 after having a blast trading SoLunAvax a year prior

Then hit SOL eco in late 2023 and Hyperliquid next year. A broad dullness of the industry makes real gems stand out

There’ll be new stories that genuinely excite ppl, just gotta give it time