$LIT is a free long here if most people think they "lost the Robinhood integration"...

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I am waiting patiently for @YanLiberman to publish the 'longer write-up..coming on why the $GRASS token is the value accruing vehicle..' because my attempts have fallen short so far. I desperately want this, as the business looks sound. No committed buyback mechanism. July 7 vote explicitly declined to give holders a claim. Nov '25 buyback ($350k) hasn't repeated since. Staking rewards dont come from revenue, but from a pre-created Grass community supply pool. Revenue does support the eco-system and 20% of spend goes to Wynd labs headcount, but is internalized, not distributed, as there is no defined claim. Recent 3rd party write-ups were not an audit, just showed revenue; and the Abundant Intelligence piece once again confirms a good business and increasing TAM only. "Value accrues to the token, not to an equity company above it" is a conclusion, not an operational system - no claimant above the token doesn't create one below it imo. Currently, this seems like a strong revenue-based narrative play only, or one that at best might result in a vote to commit to token holder claims, but please to all the $GRASS token bulls, show me the MECHANISM now, not the roadmap, not the TAM, not inference. Want to be wrong. Currently I hold no long or short position.

TLDR on @grass -Revenue is real -Value accrues to the token, not to an equity company above it -A longer write-up is coming on why the token is the value accruing vehicle Grass generates revenue off-chain, so it's harder to track than a defi protocol. On top of that, they're reinvesting rather than returning capital to holders. That combination has led to max skepticism. Good to see them address it with transparency on revenue and entity structure. On reinvesting, I think it's the right call at this stage. With no equity layer above the token, growth compounds toward the token rather than toward a company beside it. My read is capital return comes earlier than it would at a startup, just not from day one the way most crypto projects do it. They're expecting ~$70m in revenue this year, with additional products likely in the pipeline on top of that. Brief summary of their financials from the July call: xitter.cf/YanLiberman/status/207…

$DRV holder speedrun: - Buy at TGE - Average down to -90% - Watch $SNX try to buy the protocol at a discount - Watch the community say no - Try to sell when it turns sour - Orderbook says no - Win anyway Congrats @DeriveXYZ @nickforster 🫡

privacy should be a user’s choice. that is why privacy is a right (not a forced obligation) as a reminder @paradex is the only at-scale dex with privacy

I note that DB OI is increasing, and IBIT even more. Using general OI is not a clear indicator though. An extreme example to make clear - I can buy 50k Dec 135k Calls for almost zero, or the same premium for 10 (no k!) 90k Calls. Need to rationalize the chances. OI closer to the ATM (at any point in time) is relevant; OI away from the ATM (ie generally everything at expiry) is not relevant. But overall OI increasing is probably pushing that gamma needle. As for my views on Jeff's very well circulated and retweeted latest Substack article, a short-hand summary of my thoughts by @0xElenchus Will try and find some time tomorrow to elaborate. xitter.cf/0xElenchus/status/1999…

trading through extreme chaos. much of my insufferable schtick on here is... “you can get away with doing very simple things if you pick the right place to do them” you can also get away with doing very simple things if you pick the right time to do them.

gPear KoolKrypto uses Pear Protocol - do you ?