I have immense gratitude for the entire @arbitrum team, who were on the ground running what felt like the best mainline crypto event of the year
An effort that will ensure their ecosystem grows at a rate even faster than it already is
It is nothing short of inspiring to be surrounded by and supported by a community of likeminded builders who are experts in their craft
To Arbitrum and to everyone who helped us get to where we are,
Thank you. Sincerely, thank you.
-psy
Next up: Robinhood Chain Track.
Two teams building the next generation of finance on Robinhood Chain are taking home $90K in prizes.
Founder-in-Residence Award ($60K): @Saffron - Fixed yield layer built on top of Uniswap concentrated liquidity pools.
Innovation Award ($30K): @agamafinance - RWA yield infrastructure that turns tokenized stocks into a self-growing position.
Now live: $SFI
@Saffron is a vault protocol built on Uniswap liquidity positions. One side receives an upfront payment and the other side receives the fees the position may generate.
Start trading today β https://t.co/rakbnJPBR3
Coming soon: $SFI
@Saffron is a peer-to-peer risk adjustment protocol. Its smart contracts restructure underlying DeFi returns according to each user's indicated risk.
Trading starts October 23
Get ready β https://t.co/47fNCUnRqD
3+ years of building our thought -> machine interface (BCI).
we are approaching a GPT-3 moment for AI Brain models.
lots more to come as we roll out updates.
for now, check out our new site: https://t.co/nRZU2KjfFI
The ethereum:0xb753428af26e81097e7fd17f40c88aaa3e04902c MiCAR white paper is now live.
Prepared in accordance with Regulation (EU) 2023/1114 (Title II) by @MiCAR_WP_EU, it covers Spice (SFI), the native token of Saffron Finance.
Thoughts on the upcoming Elysium launch:
As an absolute $HYPE maxi over an extended timeframe, it recently became clear that (in what is the most ironic possible outcome) CT's obsession with a cashflow/security valuation framework has become self-defeating.
Since the conception of the cryptoeconomy, the dominating valuation framework has rested on some ill-defined network metrics (e.g., metcalfe's law) while cashflow was reserved as very much secondary, or non-existent. In the meantime, the vast majority of crypto participants were actively fighting the security status of cryptoassets while under fire from the Gensler-era SEC, which suggested the cashflow/DCF-style modeling as erroneous, and decisively so when the SEC determined cryptoassets as emphatically NOT securities.
What's surprising about the canonical hype valuation framework is that it flies in the face of everything this space fought so hard to overcome, and very specifically effects arguably the best product to ever emerge from the cryptoeconomy. I think that it's because the mind virus around cashflow has muddied the fact that hyperliquid is not a security, and in fact contains exactly the network features that ETH, SOL, ZEC, etcetera, possess, and from which their fair market valuations profit tremendously (and appropriately).
So back to @Kinetiq_xyz and @Enter_Elysium: if scaling the network component of hyperliquid can make more obvious this trait of hyperliquid, then the first thing that happens is that the network effects and corresponding fair market value explode, as we've seen in the past. On top of that, if the bottom line is accretive to hyperliquid, then not only does hype gain from the network effect/speculative premium, but also a genuine economic force supporting the ecosystem. That could be huge.
Most of the banking system relies on retail, not-money-minded people being idle and deciding not to change things
Agents are active and suggest changes
This is the opposite of what they want
Banks say no to agentic finance
Front page of Financial Times says Citi and Bank of America have blocked customers from connecting yield agents to their accounts because "it's not safe and will reduce the banks' ability to provide loans"
Current US money market fund yields are between 3.4 and 3.9%. Example: $10k with 3.5% APY will be worth over $14k in 10 years. $10k left in a B of A savings account will be worth $10,010