𝓜𝓲𝓭𝓮

ᴅᴇꜰɪ-ᴀɴᴀʟʏꜱᴛ • ꜱᴏᴄɪᴀʟ ᴍᴇᴅɪᴀ ᴍᴀɴᴀɢᴇʀ • ᴡᴇʙ3 ᴄᴏɴᴛᴇɴᴛ-ᴡʀɪᴛᴇʀ • ɢʜᴏꜱᴛᴡʀɪᴛᴇʀ • ᴅɪꜱᴄᴏʀᴅ ꜱᴇᴛᴜᴘ • ᴇᴠᴇɴᴛ ᴘʟᴀɴɴᴇʀ • ᴄᴏᴍᴍᴜɴɪᴛʏ ᴄᴏɴꜱᴜʟᴛᴀɴᴛ

[𝓜𝓲𝓭𝓮 @midebane]

@Only1temmy @RedotPay @Plasma @ether_fi @payy_link Which is your fav ?

[Temmy | DeFi Analyst🦇🔊 @Only1temmy]

uniswap just found a way to make arbs share more of the re-peg profit with LPs.

stablecoin-to-stablecoin swaps did $43.4b on Uniswap in Q2, more than the next three onchain venues combined. so even a small change in who captures value from those trades can matter.

take USDC/USDT.

both should normally trade close to $1. but after enough swaps, the price inside a pool can move slightly away from 1:1 even while the wider market is still around that rate.

that gap creates an arbitrage opportunity.

an arb can trade against the pool, move the price back toward 1:1, pay the swap fee and keep whatever profit is left from correcting the price.

the problem is that normal pools use a static fee.

the same fee applies whether someone is making a regular USDC/USDT swap or an arb is stepping in because the pool is mispriced.

keep that fee low and regular swaps stay cheap, but the arb keeps more of the re-peg profit.

raise it and LPs capture more, but the pool becomes more expensive for normal traders.

Uniswap’s new StablePair Hook changes that.

when the pool is still close to 1:1, the hook adjusts the fee on every swap to keep the bid and ask spread predictable.

once the price moves outside that range, a trade pushing it even further away pays no fee. that trade is already giving the pool a favorable price relative to the reference rate.

the arb bringing the pool back toward 1:1 gets a different deal.

its fee starts high and falls block by block through a Dutch auction. eventually, enough profit is left for an arb to take the trade and move the pool back toward the reference price.

the arb still makes money.

LPs just keep more of the re-pricing profit first.

StablePair Hook is basically trying to price each swap based on how much value that trade can take from the pool.

a static fee cannot really do that because it charges the same rate regardless of what is happening to the price.

StablePair can.

and because Uniswap already did $43.4b of stablecoin-to-stablecoin volume in Q2, it does not need a huge increase in volume for this to matter.

LPs only need to keep a little more of the value already passing through.

the hard part is leaving arbs enough profit to keep correcting the pool quickly.

charge too little and LPs are still leaving money on the table.

charge too much and the arb can wait.

so I would not judge StablePair Hook by how much volume it attracts in the first few days.

I’d watch whether the same USDC/USDT flow starts paying LPs better without making the pair worse to trade.

[Mememancer 🦇 @mememancer_]

AI agents don’t need to compete for attention.

They need to coordinate.

One agent understands.
One reasons.
One executes.

The real breakthrough is when they stop acting alone and start functioning as one system.

That’s where the next AI moat could be. ⚡

@xelebofficial #XELEB $XCX

[Temmy | DeFi Analyst🦇🔊 @Only1temmy]

pendle is now buying back more $PENDLE than it emits.

that was the part of its august update that stood out to me.

• emissions are down to ~884k PENDLE/year
• annualized inflation is now ~0.5%
• buybacks have reached 2.68m PENDLE YTD, worth ~$3.7m
• that has absorbed ~1.5% of supply YTD
• 100m+ PENDLE is now staked in sPENDLE
• staked supply moved from ~20% to 35%+
• protocol fees grew from ~$30k/month to ~$1.6m/month
• 93% of staking wallets have never unstaked

the important part is how the money moves.

pendle earns more fees.

part of that revenue buys PENDLE from the open market.

that PENDLE goes to sPENDLE stakers.

meanwhile, new emissions keep falling and more existing supply stays staked.

so this isn’t just pendle growing revenue.

the token is starting to capture more of that growth too.

nb: not a paid ad. just someone sharing you free alfa

[Temmy | DeFi Analyst🦇🔊 @Only1temmy]

uniswap had already generated ~$5.1b in trading fees.

but for years, none of those fees had a recurring path back to $UNI.

jan → july, the protocol captured $28.2m in revenue, with that revenue now tied to recurring UNI burns.

the volume was already there.

what changed is how some of that activity reaches the token.

[Temmy | DeFi Analyst🦇🔊 @Only1temmy]

i think if you're the type of trader who can short one of the strongest coins in the market and keep adding as it runs against you, then you're probably also the type of trader who trusts your thesis enough to keep fighting momentum until either the market turns or your position breaks.

conviction can get very expensive.

[𝓜𝓲𝓭𝓮 @midebane]

@elonmusk E no dey sharp like before @elonmusk

[Temmy | DeFi Analyst🦇🔊 @Only1temmy]

Stani Kulechov launched ETHLend in 2017.

It struggled to scale. So his team rebuilt it.

Today, Aave is DeFi’s largest lending protocol.

Here are 12 lessons from that journey in 12 sentences:

[Temmy | DeFi Analyst🦇🔊 @Only1temmy]

This is the MOST bullish change Solana has ever made to SOL.

It is honestly hard to overstate. Solana validators just approved a new inflation schedule projected to issue 18.9 million fewer SOL over the next six years:

1. Solana creates new SOL every year to reward the validators that run the network.

The rate of new supply was designed to fall by 15% each year until it reached 1.5%.

Solana has now doubled that yearly reduction from 15% to 30%, meaning inflation should reach 1.5% around 2029 instead of 2032.

2. Under the old schedule, Solana’s total supply was projected to reach 727.4 million SOL after six years.

Under the new schedule, it is projected to reach 708.5 million SOL.

That is 18.9 million fewer SOL entering circulation than previously expected.

3. Imagine you own 100 SOL and never sell.

You will still own 100 SOL when the network creates more tokens, but your share of the total supply becomes smaller because more SOL now exists.

That is dilution.

Creating fewer tokens means your 100 SOL keeps more of its share of the network than it would under the old schedule.

4. Most newly created SOL goes to validators and stakers as rewards.

Some of those rewards eventually reach the market when recipients cover expenses, pay taxes or take profits.

Issuing 18.9 million fewer SOL means 18.9 million fewer newly created tokens that could be sold compared with the old schedule.

5. Staking rewards will fall as Solana creates fewer tokens.

That may sound bearish, but a high yield paid with newly created SOL is not free money. You receive more tokens while the total supply grows around you.

A lower staking yield alongside lower supply growth can leave every existing SOL facing less dilution.

I could go deeper, but you get the point.

Contrary to what many people believe (high staking yield is always bullish, inflation does not matter if you stake, more rewards mean more value), the number of tokens you earn means little without looking at how quickly the total supply is growing.

Solana does not need to burn millions of SOL overnight.

It only needs to reduce the amount of new SOL entering circulation while demand continues to grow.

The new schedule still needs to be implemented, tested and activated, so the reduction has not started yet.

But the decision has been made.

18.9 million fewer SOL over six years.

A move like this honestly deserves to be appreciated.

Good job, @mert, @toly and everyone who pushed it forward.

Bullish🙌

[Temmy | DeFi Analyst🦇🔊 @Only1temmy]

guy who farmed hyperliquid, got the airdrop and kept buying more...

[Temmy | DeFi Analyst🦇🔊 @Only1temmy]

i don't think people realize what @symbioticfi just unlocked.

most capital in defi sits in one strategy and earns from one source.

core v2 lets the same pool earn lending yield, collect premiums from supporting other onchain products and rotate into short-term rwa financing when opportunities appear.

keyrock’s $1.54m usdc vault is already doing this across morpho, liquid lane and 3f.

one pool + multiple sources of yield + less capital sitting idle.

symbiotic is moving beyond restaking and becoming the system that puts onchain capital to work.

to me, the next big opportunity in defi may not be bringing in more capital, but making the capital already here work harder.

and honestly, core v2 feels like an early glimpse of that future.

[Temmy | DeFi Analyst🦇🔊 @Only1temmy]

i don’t know who needs to hear this, but if a crypto project makes millions while its token holders get nothing, then holding the token for years puts you at the mercy of insiders waiting for their tokens to unlock. if the token benefits when the project makes money and most of its supply is already circulating, then a longer time horizon can actually work in your favour.

[Temmy | DeFi Analyst🦇🔊 @Only1temmy]

the most valuable wealth-building skill in crypto, especially when you’re just starting out, is learning how to survive multiple cycles without losing all your capital.

[Temmy | DeFi Analyst🦇🔊 @Only1temmy]

ct keeps celebrating how much money its biggest products make like revenue is some new discovery.

and yes, that matters. but the better question is how much of that money actually reaches the people buying the token or stock.

i came across a table showing that 14 crypto protocols generated $21.1 billion in revenue over the last two years.

$21.1B in total revenue
$13.1B generated by six private companies
62% with no public way to own the business

tether, phantom, axiom, photon, fragment and metamask account for most of that revenue, but ordinary investors have no public stock or token tied directly to those businesses.

the rest look tempting because many of their assets are far below previous highs while the products behind them continue making money. from a distance, they look like obvious bargains.

then you check the returns.

hyperliquid is the clear exception, up 16x, while most of the other investable assets are down despite all the revenue they generated.

that is the part people keep skipping in the revenue meta.

a product can make a lot of money while its token captures very little of it. some protocols use buybacks or fee sharing, while others leave holders with governance, incentives and hope.

where the money comes from matters too. revenue from lending, payments and settlement is not the same as revenue pulled from short-term speculation and endless user churn.

both can look impressive on a table, but they may not hold the same value once the hype disappears.

crypto has already proved that its products can make real money. the harder part is finding the asset that lets investors own a fair piece of it.

revenue gets the timeline excited. what reaches holders is what makes the investment worth owning.

i remain @Only1temmy your favourite DeFi friend.

[Temmy | DeFi Analyst🦇🔊 @Only1temmy]

this is even harder in crypto.

you see someone winning from trading, another from memecoins, another from content, and before you know it, you start wondering if you’re doing everything wrong.

but maybe you’re not behind. maybe you’re just forcing yourself into games that were never meant for you.

study yourself. find what comes naturally to you and build around it until it becomes your unfair advantage.

you can branch out later, but ignoring what you’re already good at because someone else is winning elsewhere could leave you spending years chasing their edge while neglecting your own.

speaking from experience btw.

[Temmy | DeFi Analyst🦇🔊 @Only1temmy]

Arthur Hayes the moment everyone bought:

[Temmy | DeFi Analyst🦇🔊 @Only1temmy]

one thing i’ve noticed about successful protocols in crypto:

the teams that lose are trying to catch the next narrative.

the teams that win are obsessed with what they’re building, even before the market understands why it matters.

[Mememancer 🦇 @mememancer_]

𝐀 𝐦𝐚𝐧 𝐢𝐧 𝐋𝐚𝐠𝐨𝐬 𝐬𝐨𝐥𝐝 𝐡𝐢𝐬 $𝐗𝐑𝐏 𝐚𝐭 𝟏𝟎 𝐏𝐌 𝐨𝐧 𝐚 𝐅𝐫𝐢𝐝𝐚𝐲 𝐧𝐢𝐠𝐡𝐭.

He needed Naira for rent by morning.

On most P2P platforms, he would have waited hours.

Hoped the rate didn't move and also Hopes nobody scammed him.

On @myridima, his Naira hit his account in 60 seconds.

This is what real XRP adoption in Africa actually looks like. 👇🧵

[Temmy | DeFi Analyst🦇🔊 @Only1temmy]

some important lessons from watching this market crash in real time:

a lot of us are watching our bags bleed this week, confused, refreshing charts, looking for someone to blame. we shouldn't be. this has all happened before, and it keeps happening until we understand what sits underneath it. here is what this week is really costing us:

1: pick a price to sell at instead of a reason to sell, and you'll never sell at the right time.

you tell yourself $2 is the exit. it hits $2. the chart looks incredible, everyone is cheering, and selling now feels stupid, so you move it to $5, then $10. somewhere in there you stopped trading and started believing. willpower won't save you, it breaks in every bull market. so write it down before you buy: one line on why you're in, one line on the one thing that would prove you wrong. not a price, a reason. you bought because a big listing was coming? the day it lists and the price sits still, you're out. you bought because a product was launching? the day it launches and flops, you're out. a choice you make before the emotion is the only one you keep. you make yours inside the emotion. that's why you hold too long.

2: when someone with a big following talks up a coin he already owns, that's not a tip, that's his way out.

a big holder can't sell a coin with few buyers without crashing the price himself. he needs a crowd buying while he sells. his posts bring the crowd. that's not an accident of having a following, that's what the following is for. WLD ran up 68% on AI hype while the market dropped 10%. the loud voices went quiet, sold, and it fell 28% in hours. everyone who read the posts and bought was the crowd he sold into. so stop asking if he believes it. ask what saying it out loud does for someone already holding a heavy bag. watch the wallet, not the post. tools like Nansen, Arkham and Zerion show you what wallets do as it happens. buying while he posts? maybe it's real. selling while he posts? now you know what you are to him.

3: the number on your screen is not money. it never was.

that number is your coins times the price of the last small sale. but you don't own one coin, you own thousands, and the second you try to sell a real chunk, the price drops before you finish. so the cash you'd actually walk away with is far less than the number you see. that screenshot you sent the group chat was a number, not money. WLD showed 68% green, then the buyers left and the price left with them. green turned to 28% red in hours. that peak was never yours to keep. once a week, open your biggest coin and pretend to sell half. watch how far the price drops while you do. then ask how rich you really are.

4: by the time the trend has a name everyone uses, you're buying their bags, not getting in early.

smart money buys first, quietly. no posts, no noise. then the influencers start talking. then the trend gets a name everyone knows, AI coins, real-world assets, and that's when most of us buy. by the time you can name it, the smart money is done buying and is selling to you. this doesn't mean skip every trend. it means ask a better question first. not "is this trend real?", nobody knows the future. ask "how many people are already in, and who still holds the coins from the start?" check the 20 biggest wallets before you buy. how long have they held? are they sending coins to exchanges to sell? the data is free and public. skip it and you trade blind while the other side sees everything.

5: the day you defended a coin in an argument, you stopped being a trader.

it never starts with a bad trade. it starts with a group. you buy. you join the Discord. you post. someone talks down your coin and you fight back, and right there the loss begins, because now you need the price to rise just to be right. you're not holding a trade anymore, you're protecting your pride. that's why you skipped a clean 10x. that's why you sit through an 80% drop and call it belief. that's why you told someone "have fun staying poor" when they sold at 5x, and you can't find them now. keep your bags away from who you are. don't post your holdings. don't join groups built around coins you own. the moment you defend a coin instead of checking your reason to sell it, you've moved into a place you were only meant to visit.

6: you can't watch the whole market alone. find your people.

not a chat that hypes each other's bags. not a coin's official group, we covered that. a small, quiet circle where people are strong at different things. one watches the wider economy. one reads the blockchain data. one tracks which trends are heating up. one tells you the truth when you're too attached to your own bag to see it. that's the edge most people never build. WLD sat there on-chain, days before the dump. the wallets moved in plain sight. people missed it because they read posts instead of asking someone who watched the data. you don't need to pay for every tool, share one. split Nansen between three people you trust. pass around what Arkham shows. compare what each of you sees. the market moves too fast to watch alone, and the people who pull money out cycle after cycle aren't smarter than you.....they're just less alone.

remember, the market doesn't care about your belief, your buy price, your group, or your reasons.....it only knows what a thing is worth right now. right now it's telling us something. the only question is whether we listen, or learn it all again next cycle.....same lessons, new coin names.

[Temmy | DeFi Analyst🦇🔊 @Only1temmy]

some perp dexes that are still worth farming:

1. @HyperliquidX
2. @variational_io
3. @tradexyz
4. @extendedapp
5. @grvt_io
6. @edgeX_exchange