Sumatt

occasional dev and perpetual gambler. Very slowly building @perphub.

[Sumatt @Sumatt]

@NotDonJake Yeah, 17 year old Korean prodigy Fred spaghett deserves to be paid

[Sumatt @Sumatt]

I'm not a regular phoenix user but i do have 2 trades open currently on it so i suppose i can give my opinion. One of these is a sol hedge for some spot i bought a few months ago and although i usually use extended for these types of trades, phoenix had better funding rate at the time and on average still does (extended has been negative lately)the other trade is a gold long and again was cheaper funding wise.

I don't particularly care about ui unless it's something egregiously bad like lighter a few months ago so i don't really mind phoenix but i do agree it's not great and i also think for the average on chain exchange user speed isn't that important nor are they really trading size and if they were they're probably using hyperliquid anyway. I do however think the lack of incentives is an issue particularly when you're competing against something like bulk or the whole host of non sol perp exchanges launching soon to the point i don't think they can ever win without launching a token and a good one at that

[Sumatt @Sumatt]

Unfortunately not quite a saudi prince but this is seemingly a nice stable farm currently. Not going to shill a ref link but probably will deposit a little more this week whilst there's not much else going on in the eco worth doing

[BULK @bulktrade]

ITS AURA SATURDAY

1,000,000 AURA has been distributed… Time to see what you got 👀

Open the door: https://t.co/cRn8P7qFoJ

[Sumatt @Sumatt]

@0xSnow22 Shorting my bags ? tut tut

[Sumatt @Sumatt]

Despite the token performing horrifically this unironically might be the best the sol eco has ever looked in terms of protocol quality, ofcourse the tokens are still predominantly uninvestable but it’s a start

[Sumatt @Sumatt]

As both a hype and sol enjoyer it would be great if people started buying the latter

[Sumatt @Sumatt]

@DefiSolar @k5cryptojp Yeah I’m in the top 80 or something holders (not that it’s hard) and got 20 something points. Was definitely not worth buying

[Sumatt @Sumatt]

@KemarTiti That’s true on the pitch but I hate the fact psg had multiple league games postponed to benefit their campaign it just reflects badly on the league . PSG definitely a more enjoyable team to watch however

[Sumatt @Sumatt]

Can someone smarter than me explain why private on chain vesting would be a good thing ?

[Sumatt @Sumatt]

Can’t believe we’re still doing vested airdrops in the big 2026

[Sumatt @Sumatt]

@kasperloock @Saram_ath @weevexyz If it’s what I think it is, you will want that gift

[Sumatt @Sumatt]

@BusinessMngr If you add some more exchanges, the ability for anyone to create a “showdown” that potentially creates a smart contract to hold funds in an escrow you could have a fun little app for 1v1 social comps that anyone can create

[Sumatt @Sumatt]

Nice to see them matching extended % wise. After trying it out it’s probably a good thing they’re doing a testnet comp with the amount of ui issues (they’d probably get crucified on ct day 1) albeit they’re fixed very quickly even if the environment is nothing like what it would be if real money was involved

[Sumatt @Sumatt]

@kdotcrypto @vibhu He doesn't deserve serious hate (lighthearted ribbing is fine) but he purposefully poked the bear and it retaliated, in the words of the great Jamie Vardy "chat shit get banged"

[Sumatt @Sumatt]

It’s too early to be comparing Phoenix to hl when it’s not even the biggest in its category on solana itself and as you said the marketing around fees fails when you add slippage but in fairness the zero fee narrative from lighter and paradex also did this just pushed by less annoying people.

Also agree they should be pushing decentralisation and composability but it’s a little hypocritical coming from the solana lot who have spent the last 5+ years saying decentralisation isn’t a binary concept and after both the drift and kelp exploits which wiped out many other protocols composability suddenly doesn’t sound that attractive.

In saying all that competition is good and should be celebrated rather than shut down

[Sumatt @Sumatt]

@OnlyDeFiGuy Competition is good for especially when there’s more like bulk also coming although the constant shilling of phoenix is getting a little annoying. All will be forgiven however if the sol foundation shill drift just as much purely for the value of the recovery token’s sake

[Sumatt @Sumatt]

@airtightfish I see, thanks

[Sumatt @Sumatt]

@Nevergreen911 @PhoenixTrade There aren’t , it’s fine and new but there’s no real reason to switch from any other pre existing exchange