Sabretooth | Exchequer

@Exchequerfi Co-Founder. Make Tokens Great Again.

Building tokens with airbags. Permissionless Downside Protection for any token.

[Sabretooth | Exchequer @SabretoothSG]

Crypto built the trading stack, matching, settlement, custody, liquidity, price discovery. Often improving on the TradFi original.

The ownership stack is the legal apparatus that makes long-term investing work in TradFi: fiduciary duty, residual claims, priority in liquidation, anti-dilution protections, disclosure regimes, regulated microstructure, standing to sue, etc...

None of that is importable into crypto natively. That's why the RWA/tokenized equity movement exists — use crypto for trading, retain the TradFi legal stack for everything else.

That's the sellout route.

The harder route is to replace the TradFi ownership stack with a crypto-native structural substitute.

Bitcoin replaced central-bank-issued money with a fixed-supply schedule and proof-of-work issuance. Sound money without central banks.

Ethereum replaced legal contract enforcement with deterministic code execution. Contracts without courts.

Uniswap replaced regulated exchanges with permissionless AMM-based trading. Exchanges without regulators.

The crypto-native move: take a legal-apparatus-dependent function in TradFi, replace it with a structural substitute. Deliver the buyer-relevant outcome without the legal apparatus.

Ownership is what crypto hasn't built yet.

That's the misalignment.

[Jess 🌱 @thattallguy]

More people want to invest than trade.
But structurally, it’s much easier to trade than invest.

That feels like a valuable misalignment to solve.

[Sabretooth | Exchequer @SabretoothSG]

@shivst3r Lenin posted this in 1917 and it worked

[Sabretooth | Exchequer @SabretoothSG]

I'm going to explain the rules of the memecoin game.

I had a look at $ANSEM so lets use that as an example.

$399M market cap. Seven pools, $3.6M of SOL exit liquidity. $2.3M of that sits with LPs on Meteora and Orca who pull the moment flow turns. The burned pool from graduation holds $1.3M of SOL.

The token graduated off pump's curve near $100K of market cap. Price is up 4,000x since. Constant product pools grow the quote reserve with the square root of the price move, so a 4,000x pump grew the SOL side by a factor of 63.

Buyers filled six more pools on the way up, and LPs topped them up chasing fees. All of that money together sits at $3.6M today.

The game: $400M of "market cap" with an exit door between $1.3M and $3.6M wide.

And the next level costs almost nothing. A billion-dollar $ANSEM is a 2.5x from here. The exit door grows to $5.7M while the market cap grows by $600M.

Don't hate the player, hate the game.

[Sabretooth | Exchequer @SabretoothSG]

@AnonVee_ There's about 3.5m of visible exit liquidity right now, once the selling starts, total locked exit liquidity is gonna be about 1.2m.

Only a few will make it to the exits in time.

[Sabretooth | Exchequer @SabretoothSG]

@llamaonthebrink Great point! This isn't just governance, it's a paradigm shift. Would you like me to elaborate further or generate additional thoughts?

[Sabretooth | Exchequer @SabretoothSG]

@StaniKulechov we've reached the stage of crypto where pyramids are back but only at a respectful angle.

[Sabretooth | Exchequer @SabretoothSG]

@0xDevinG @GammaSwapLabs Do you guys offer BTC?

[Sabretooth | Exchequer @SabretoothSG]

@neilhar Is this a long way of saying all tokens are memecoins?

[Sabretooth | Exchequer @SabretoothSG]

@Exchequerfi Alignment =\= entitlement

[Sabretooth | Exchequer @SabretoothSG]

@Exchequerfi

[Sabretooth | Exchequer @SabretoothSG]

@TokenBrice he who controls the liquidity controls the universe.

[Sabretooth | Exchequer @SabretoothSG]

@TokenBrice well we traded banks & governments for even more extractive intermediaries in CEXes and Market makers.

[Sabretooth | Exchequer @SabretoothSG]

@Exchequerfi

[Sabretooth | Exchequer @SabretoothSG]

@hotpot_dao 骑着黑骏马，一直受伤 😭 这暗号对上了

[Sabretooth | Exchequer @SabretoothSG]

@francescoweb3 last grass i touched rugged me.

[Sabretooth | Exchequer @SabretoothSG]

@francescoweb3 Feel like the term RWA is not that useful anymore, need to look at what's underlying it.

[Sabretooth | Exchequer @SabretoothSG]

@Exchequerfi 😮

[Sabretooth | Exchequer @SabretoothSG]

@Exchequerfi 😳

[Sabretooth | Exchequer @SabretoothSG]

@Exchequerfi 😭

[Sabretooth | Exchequer @SabretoothSG]

@codec_fox23974 @berachain @binance For BERA/USDT, is there a disclosed absorption path for post-tokenomics supply and market-maker inventory, or are spot holders carrying the whole imbalance?

[Sabretooth | Exchequer @SabretoothSG]

@CryptoJuncky @gavofyork @Polkadot If it’s an airdrop or $DOT only sale, what is the liability side: real holder claim on future cash flows, or just a subsidy funded by new issuance?