Current: Protocol Research @Coindesk Research. Prev: research at @Re7Capital liquid token fund. Econ grad @ntusg
Joined October 2011
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Messist retweeted
RESEARCH: Stablecoins settled roughly $35T onchain in 2025, more than @Visa and @Mastercard combined.
Only about $390B of it was a real payment.
A new CoinDesk Research report maps where the value actually went, and why @crediblefin is building for the gap in between.
Robinhood metrics are on the up - think the distribution data + the hooks data here (Robinhood Chain doing around 80% of all hook swaps) are quite probably the best lenses to look at to find ways to position in
@RobinhoodCrypto chain is producing real activity with its main advantage unused. TVL is up ~90% in 30 days to ~$757M, now the 12th-largest chain, while Robinhood's own users are ~1-2% of transactions. The distribution channel is still switched off.
Messist retweeted
@RobinhoodCrypto chain is producing real activity with its main advantage unused. TVL is up ~90% in 30 days to ~$757M, now the 12th-largest chain, while Robinhood's own users are ~1-2% of transactions. The distribution channel is still switched off.
The @clawpumptech hackathon currently not getting much of a bid/attention - with participant volume quite low - think they need a runner there to pick things up
solana:6GmAFSYs4gk3FDao5FzzySQpPZaWsa4rUJHacpMpUNgx is an interesting one - daily volume and traders are more or less declining or at the very least not sustaining momentum but the protocol still trades cheaper than things like solana:pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn
Given solana:METAwkXcqyXKy1AtsSgJ8JiUHwGCafnZL38n3vYmeta is performing well, just a reminder: @MetaDAOProject has now crossed $45m in cumulative capital raised on the platform. Meanwhile, @crediblefin is on track to hit another ATH in monthly payment volumes by the end of the month.
idk how true this is but $480K in monthly revenue tbh sounds insane here for solana:HmTi3CQfKfXWbn1tNoiAxH7GzMV7L3tDAmPWabZEBAGS. Also seeing a pickup in daily token usage on Openrouter - maybe one to track a bit more closely
Today on MCG (Times in est): 🔴 LIVE: Crypto Pulling Back... What's Next?
12:30 - $ORDR @ordrtrade w/ @Vinayapr23 (@futarddotio eco)
1:15 - $P0 @p0systemsw/ @serpepexbt
- Pump fun bottom in?
- Coins are graduating again
- Crypto market pullback
- Sub 60k next
Built a quick dashboard to track the @MetaDAOProject ecosystem - from treasury composition and protocol-specific metrics like @crediblefin volumes to TLDRs of posts from official accounts, news and research, and @ownershipfm + other podcasts. dashboards.wtf/ownership-coi…
Messist retweeted
DATA: @ionet has redesigned its tokenomics around the Incentive Dynamic Engine (IDE), launched in June 2026, which ties emission and burns directly to network earnings.
The IDE pays suppliers a stable dollar target, funded first by emissions and then earnings when emissions fall short.
Messist retweeted
RESEARCH: @binance launched Pre-IPO perpetuals on May 21.
Within days, the exchange took >60% category share, reaching >65% by May 27 with ~$400M cumulative volume.
The category is the newest within TradFi or RWA perps and is following a pattern visible across the segment.
Messist retweeted
RESEARCH: @jito_labs already owns layers 1 and 2 of the Solana execution stack.
The Jito-Solana client runs on 97.61% of validators, and Block Engine plus BAM (Block Assembly Marketplace) sit at the ordering layer.
JTX, a new self-custodial trading platform, pushes the business up into layer 3, the execution venue itself.
Tried to see what made sense as exposure to the broader rwa trend here
Wrote a bit about how unproductive stables have been + some emerging solutions
Stablecoins won the utility war, but they are losing the "capital efficiency" war. Currently, $270B in "Lazy Money" gifts centralised issuers $9.7B in annual interest while users carry the risk.
We’re entering the Productivity Meta - reclaiming the float for DAO treasuries, DEX liquidity, and neobank balances. From vertical solutions like HyENA to horizontal "Yield-as-a-Service" layers like @solomon_labs, new infrastructure is emerging to enable native yield without the friction of wrapping or changing tickers.
Read the report on reclaiming the $300B efficiency gap.
On-chain privacy is evolving from simple transfers to the core infrastructure required for institutional DeFi.
@UmbraPrivacy is building the solution: Verifiable Privacy. Their upcoming Feb 2026 launch on @solana enables: strategy protection for pro traders, composable private swaps & lending and voluntary auditability for compliance.
With the privacy sector up 636% YoY, Umbra is positioned at the center of the shift toward strategy protection.
Read my report for @CoinDesk Research on Umbra here: coindesk.com/research/the-fu…
Appreciate this added context for Umbra - expands on what I wrote in my article for Coindesk. Definitely the most interesting privacy protocol I could find...UODL indeed. Read here coindesk.com/research/the-fu…
Coindesk wrote a piece on Umbra, and specifically highlighted some aspects of it's moat, though I think they could have expanded on this through ownership / shielding
Shielding Umbra takes supply out of circulation, effectively cornering supply, while also building the anonymity set
Where they could have expanded further though, is on the aspect of ownership and how that makes the moat more sticky
Example: Say liquid funds / large holders introduce a proposal for revenue share in the form of quarterly dividends. The proposal passes, and then Umbra token holders receive a yield on their tokens, while also shielding these tokens
This effectively: corners supply through shielding -> builds the anonymity set -> provides yield through futarchy governance
Such a moat is only unique to Umbra, no other privacy token/project offers even half this, and it's ojectively one of the best moat's in all of crypto
Umbra M/M has already outperformed every privacy token, and the product is far more advanced compared to current encrypted wallets
It is something so unique in a sector so ready to explode that it simply can't be ignored, especially when it is so much cheaper(for now) than every other subpar competitor
$50
uodl
