Iris

Exchange operator since '18 · 7yr @BitrueOfficial · RWA & macro moving markets before the headlines do · views my own

[Imran @lmrankhan]

It’s going to be difficult to build venture scale startups on top of Kalshi and Polymarket. Not impossible, there are still a few interesting ideas floating around, but over time anything valuable you build risks becoming part of their margin stack. My guess is this ends up being a winner takes most market.

It was difficult to understand where value would accrue, so people rushed to build products around prediction markets, under the assumption the end state would play out like defi, token launchpads, or decentralized exchanges.

I think the reality is simpler. Most retail users will access prediction markets through consumer apps, while most sharps will build their own tools

It was absolutely the right move for Polymarket and Kalshi to let others build on top of them. Liquidity begets liquidity, and every product built on top of their infra further concentrated order flow, strengthened network effects, and made it harder for competitors to emerge.

To their credit they’ve spent more than five years grinding through regulatory, liquidity, and distribution challenges to get here. They earned every bit of it.

Also the cost of building software is trending toward zero. As apps become cheaper and faster to build, competitors will continue undercutting each other until fees approach zero, similar to what’s already happening in the prediction market terminal space.

That doesn’t mean there won’t be winners on top. There probably will be a few but if you’re building in prediction markets, your biggest challenge isn’t the market itself, it’s getting distribution and building a net new experience that people will love

[hansolar @hansolar21]

In 2022 Luna was offering 20% yields on $14b
They collapsed with about 40 days of runway left in May 2022
This post was made when they had about $400m in reserves left

$STRC is offering 11.5% on $15.5b
They have about 6 months of runway left
MSTR currently has about $871m in reserves left

History doesn't repeat, but it sure as hell rhymes

[Iris @IrisChu7]

Is everything flowing into the 3 biggest IPOs?

[XRP Ledger Foundation @XRPLF]

How to run an XRP Ledger Validator?
Full History Node? Path Finding Node? Peering Hub?

Together with XRPL365 @krisdangerfield and FUD Ltd @daniel_wwf we’re building a complete, well-maintained guide covering all major XRP Ledger node types.

[Iris @IrisChu7]

Wondering how long this can go on.

What's next as hot money cycle has gone from crypto to gold to AI to memory https://t.co/PfYhQmiYii via @coindesk

[Manuel Aráoz @maraoz]

PSA: I now consider *all* of DeFi unsafe.

Coding agents are superhuman at finding vulnerabilities, and smart contract security is too asymmetric: defenders need to fix every bug while attackers need just one exploit to steal funds.

[Andy Ayrey @AndyAyrey]

engineers who are high IQ but low EQ continue to report terrible results from coding models, while CTOs with people skills rip ahead because the AI likes them

[Iris @IrisChu7]

We’ve gotten the whole world population to consume the US debt. Blockchain’s real market fit. 💸 💸 🛥️ 🌍 🌎

[Bloomberg @business]

The Trump administration is poised to roll out a plan for trading digital versions of securities that could reshape the landscape of the American stock market as it continues to loosen the rules for free-wheeling crypto markets https://t.co/zj5OJg1CHf

[Iris @IrisChu7]

Can be accessed via Bitrue in case you are wondering: https://t.co/q0RXl1Nemp

[xU3O8 @uranium_io]

Data centers, AI infrastructure, and national energy goals depend on stable, clean, and reliable power, like nuclear energy, fueled by uranium.

Tokenized uranium provides a transparent way to buy, own, and trade uranium 24/7 with no purchase minimums.

[Iris @IrisChu7]

Reference to https://t.co/jTrMOkih9b

[a16z crypto @a16zcrypto]

Tokenized “real-world” assets (RWAs) have surged 10x in two years, now topping $30B — with nearly half held in U.S. Treasury debt.

The growth reflects rising institutional demand to put traditional financial instruments onchain, from government bonds and commodities to equities and private credit. While U.S. Treasuries dominate today, the asset class is broadening, with more categories gaining meaningful share in recent quarters.

Note: RWAs are traditional financial instruments such as government bonds, commodities, and equities that are represented onchain as tokens.

[Iris @IrisChu7]

The real RWA market is ~$30B ex-stablecoins.
But velocity would be a more interesting metric to look at (not TVL):

Tokenized gold: $90.7B Q1 spot volume on $5.5B assets → 16x turnover
Tokenized stocks: $15B Q1 volume on $500M TVL → 30x turnover

Both are still early

[Pantera Capital @PanteraCapital]

Beyond the Digital Copy: What's Next for Tokenization?

Our research team developed a new index of 593 assets across a $320B market that reveals how far onchain finance still has to go.

Access the full report here:
https://t.co/eNKDSylULP

[Iris @IrisChu7]

The real audience wasn't each other.
It's about proving that $500M in corporate cash can live onchain, earn yield, & come back to your bank account in seconds, not days.

[Iris @IrisChu7]

Everyone's running the headline. Here's what actually happened, and why each party showed up: https://t.co/qX4gnICKze via @coindesk

[Iris @IrisChu7]

- Mastercard: staking a claim in tokenized settlement before it standardizes

[Iris @IrisChu7]

Looks like the “peace” was fake

[The Kobeissi Letter @KobeissiLetter]

BREAKING: Gold futures surge above $4,550/oz, now up +4% on the day, as optimism grows over US-Iran peace talks.

[Iris @IrisChu7]

- especially when we live in an economic system that makes it harder and harder for people to reach important milestones in their lives. It’s not about greed - it’s about living the life that you deserve."

PowerPiggy still wins: https://t.co/TsKgHJ4cV9

[Iris @IrisChu7]

“People are attracted to blockchain technology for a variety of reasons, but a common theme shared among most is a desire to build wealth-

[Bitrue @BitrueOfficial]

2025 was a milestone year for #Bitrue with 7 years of innovation and 40M+ users worldwide.

Read more here: https://t.co/bKzoPmxUXT

As we forge ahead into 2026, we will continue to focus on delivering:
🔸 Diverse trading options, from DeFi and GameFi to tokenized stocks
🔸 High-yield staking and flexible Launchpools for early access to promising tokens
🔸 Industry-leading security and user support for peace of mind

Unlock the limitless of crypto with Bitrue! 🚀

[Iris @IrisChu7]

@Wayne541509329 @the_drawback @sentosumosaba @Hodor @TammyCamp @strongholdpay @UpholdInc @krakenfx @StellarOrg @axelar @strongholdjapan Bitrue market: https://t.co/azsBAQy41f