sree

quant @flowdesk_co

[sree @sreevanth]

@mroliverpt @Morpho Congrats beast. Well deserved!

[Oliver @mroliverpt]

Life update: I’m incredibly excited to announce that I recently joined the team @Morpho!

Since last summer when I first built on the protocol and met the team, it was clear to me that Morpho is building the future of credit infrastructure. I am joining as an Integration Engineer, helping protocols and institutions tap into Morpho’s credit layer.

Huge thank you to @MerlinEgalite, @PaulFrambot, @maccanomics, Florian, and the rest of the Morpho team for everything throughout the process. Let’s build🦋

[sree @sreevanth]

@thekrillest1 Where can I get one

[sree @sreevanth]

@Evanzsolomon @Ledger @AntoineM_eth

[sree @sreevanth]

@0xfhd_ d in fhd is for dawg

[jords @jords]

+1 to this

i was absolutely balls deep in SOL during most of the two previous runs, was the only ecosystem i knew and most of my net worth was in the token

this hype run feels v similar from an in group / out group point of view on CT. it is extremely obvious who is sidelined and who is enjoying

ppl wanted to just categorise solana as a shitty chain for poor ppl with bad investors that goes down all the time, but the economic activity and the dApps told a much brighter story

i had a friend who i even gave SOL to in 2022 and started a phantom to try get him to understand and he didn't even use it bc he was so convinced solana was shit

now ppl with hype are saying the same shit. it's just a DEX, where's the moat, regulation, hacking risk, competition

the worst thing you can do in crypto is have an unfalsifiable thesis, for those who were conservative on regulation imo you were somewhat falsified with the circle / coinbase announcement, or at least risk reduced. that was a signal to change thesis and still get a good entry, but many were already stuck in their opinion

the same is true with the perps approval in the US, that was a signal but those already stuck somehow paint new competition as bearish

there is finally a good product in crypto that is seeing mass adoption and literally disrupting global trade, if you're in this industry you want to see this product win

the other main thing ppl are midcurving is that whether a token goes up or down is solely determined by the buyers vs the sellers. there is substantial buy pressure that is hard-coded into the token and holders are still reluctant sellers, it does not take as much demand as you think it does for this thing to continue to send

if you don't own the coin, the very least you can do for yourself is to try not short it. there is a treasure trove of overvalued assets that deserve to be shorted, but the strongest asset of this year is not one of them

you may have missed out on the opportunity to make money but there's no reason to lose money on rage shorts

there is no hype beta

i love u

[sree @sreevanth]

@mroliverpt Beast

[sree @sreevanth]

@chameleon_jeff 👀

[sree @sreevanth]

Hyperliquid swim shorts would bang

[Joel John @joeljohn]

My $0.02 - as someone who's been equally involved with Hyperliquid and Solana and admires both ecosystems.

If I were working at foundation, this is what I'd want to see to tweak things in Solana's favor.

1. Phoenix needs to get rid of that invite code nonsense asap because brother its 2026..

2. For perpetual exchanges, there are two core aspects that have nothing to do with settlement chain. You need a group of MMs and you need a risk engine. Hyperliquid could bootstrap this fairly well, and the airdrop incentivised MMs. Many of them ended up millionaires and that liquidity went towards HIP-3/HIP4.

Solana folks need to stop looking at this as a liquidity constraint and think who are the best MMs and what are the best assets. And no, thinking you don't need to incentivise those MMs doesn't work because the MMs are booking sufficient margins arbing tradfi stocks and currency pairs on Hyperliquid.

Hyperliquid launched in a zero competition market.
Solana's perp ecosystem is not launching in a blank market.

3. Hyperliquid was consistently early to listing new assets. Often times - that move hurt it because risk assessment is hard (jellyjelly). But it was one of the best places to go long on perps before Binance listed it. Speed of listing new assets was the pitch. It still is - you can trade spacex there before you can trade it on NASDAQ. Phoenix lags (from what I see).

compare this with number of assets on solana native perps.

4. Hyperliquid's core culture is built around a full-fledged product that is aesthetic. The attention to detail on Hyperliquid is often absent on many Solana native perps. You need to get off the feeds and open these products on two large monitors and spend a whole sixty minutes on these things and you will see the stark difference.

5. Solana's core value prop is actually in its RWA ecosystem. Instead of battling on crypto-native perps, or going after what Hyperliquid owns today, Solana should probably look towards the 350 assets Ondo supports and enable perps for them.

Why? You have a base market where MM's can go back to USDC on, MMs will want to hedge on a perp exchange and Solana has a strong lead here (compared to ETH/L2 ecosystem). You have an ecosystem of wallets that will embed these instruments.

You want to bring nasdaq on chain? Brother focus on those assets!! Tokenised compute, commodities, emerging market indices - are all blank spaces. And Hyperliquid does not own those markets today.

6. Hyperliquid dominates user mind-share now because it has done the three things necessary to build a cult in crypto. It built a product that speaks to tradfi (pre-ipo/hip3), it made an incredibly powerful stack (hip3/usdh) and it enriched people in the process.

Solana did the same with USDC and fwiw, to a certain extent with meme coins. Trying to battle it out on Hyperliquid's turf is trying to convert a cult. I belong to that cult - unless you have a superior product that has as much - people wont convert over

Hyperliquid has an incredibly powerful flywheel going on for it right now in that when tradfi stocks list, it has become the pricing avenue. The last time this happened with a primitive in crypto was with prediction markets - when they were more effective than traditional outlets at pricing election odds.

Crypto native approaches to competing with a behemoth whose moat is on risk engine, liquidity, a cult-like userbase and tradfi relevance is fairly weak. Teams on solana should frankly be looking a bit more deeper than the surface.

DMs open if you're building on either networks. I think the pie is a lot bigger than what we presume it is on X. We are talking about bringing the world's finances on-chain.

Cumulatively these ecosystems are at $80 billion. I think they will be worth $10 trillion in ten years. Too early to be bickering over size of the slice. Focus on the pie.

[sree @sreevanth]

🤘

[sree @sreevanth]

@nayanbandaru_ "Engineer" hasn't meant anything since 2020

[Vikram Singh @vikramcantsingh]

https://t.co/Ynbuj1QbhE

[signüll @signulll]

one of the most refreshing things on the planet is talking to someone who just *gets it*.

like you don’t need a preamble, & you don’t need to articulate the shape of the thought before you can share it cuz they just meet you where you already are. as if they skimmed your mind & married to the culture before you say a single word.

these people are rare, & conversations with them are incredible because you skip the surface layer entirely & land in the depth almost immediately. they’re the best ppl to riff with, ideate with, & think forward with.. the bandwidth is wide & already open.

this is true for any type of relationship.

[sree @sreevanth]

@DCGco @anna_brth GOAT spotted

[Kaviish @kaviish]

https://t.co/pmMyanaIgZ

[Kaviish @kaviish]

Kalshi is quietly outgrowing its external brokerage dependency

Robinhood's share of Kalshi volume: 59% → 22% in 6 months
Kalshi's monthly volume over the same window: 4.5x

The biggest bear case on Kalshi is absorbing itself right in front of us

[sree @sreevanth]

@Ju1ianf Fair. Also, IV for alts means costly premiums

JELLYJELLY on options would be catastrophic

[sree @sreevanth]

+1

Desperately need crypto options (esp 0DTEs!)

[Jeff Park @dgt10011]

the new product category that is most naturally adjacent to events-based contracts for prediction markets to go after is actually not perps

it's 0DTE options

few

[sree @sreevanth]

@Ju1ianf DeFi and delta-neutral yield require capital efficient hedging

Options only require premiums = higher inbuilt leverage = more speculation

Market Greeks aren't prohibitive - daily options volume is ~$4T vs ~$300B for perps

[sree @sreevanth]

@Ju1ianf Convex and uncapped upside, capital efficiency. Overall better hedges

Up/down prediction markets have a worse, capped payout curve