@RiskAssetLens

degen with a spreadsheet. airdrops, perp points, rwa, the occasional bad meme https://xitter.cf/t.co/QthoewRays

Global Markets
Joined October 2020
something doesn't add up on $VAR otc: points trading $40-50, everyone's happy polymarket: only 56% that var fdv is even above $1b a day after launch 32% of supply goes to points at tge, that's confirmed. at $1b fdv that's roughly $30 a point so either otc buyers are overpaying or polymarket is sleeping on it i know which side i'd take. where's the logic break for you?
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eqx spot stocks go live on hyperliquid today at 9:30 ET. 11 tickers incl spy, qqq, nvda, tsla as hip-1 tokens vs usdc, team says 1:1 backed so hl now has hip-3 stock perps, pre-ipo perps and spot shares on one book. people joke it wants to house all finance, looking less like a joke what i actually watch: the spread after 4pm ET when there's no nyse to arb against. if that stays tight xstocks has a real fight on its hands holding $HYPE
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2 days ago i said the badges stay badges. reveal day: - $SONEIUM confirmed - tge "at a later date". no supply, no allocation - soneium score and badges: not in the blog, the thread or the vision paper - portal starts with primary sales of tokenized ip. moriusa first, k-pop concert royalty bonds with dayonedream real ip onchain is a fair bet. just tell the 12-season crowd where they stand before tge, not after score farmers, holding your badges or done with the chain?
1/ 💿 Soneium: The Onchain Entertainment Economy. Today we introduce Tokenized IP and our plan to issue $SONEIUM, an ecosystem-native token that connects our global community. 🧵👇
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5 days ago i said the merge was 1 of my 5 conditions to flip bullish on $AERO. condition 4 shipped on time. condition 5 was "new chains add net revenue" 5 days in, defillama fees per day: > robinhood chain + ethereum + arbitrum: ~$20k, under 8% of the total > base: ~$245k, down 24% vs the week before > total: ~$272k vs ~$337k the week before > $AERO $0.83 the night it shipped, $0.66 now so far the new chains added less than base lost. weekend is in that sample, so i'm not calling it yet yesterday predictive allocation went live, rewards now follow expected fees instead of a weekly vote. that's a condition 2 test, not 5 still not buying. what daily fee number gets you in?
august me: "$AERO isn't cheap" $AERO: +80% fair. but i gave 5 conditions to flip bullish and tonight one of them ships aerodrome x velodrome merge goes live, sAERO earns exchange revenue in real time, one liquidity layer for ethereum if new chains bring real fees, the checklist gets ugly for bears
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swaps on var launched less than 2 months ago and they're already 15%+ of all volume the protocol ever processed var says $1m+ orders on tradfi names cost under 1 bip there. ibkr perps went live last friday, 20x, zero fees at this pace i think swaps pass perps on var before the points program ends. which ticker do you want listed next
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israel votes tomorrow. polymarket has ~$54m riding on who ends up pm before you check the odds, gut call: who's the next israeli pm? poll closes before the booths do. wednesday i put our crowd next to the market price and we see who's sharper
0%Gadi Eizenkot
0%Benjamin Netanyahu
0%Naftali Bennett
0%someone else
0 votes • 18 hours
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the pearl "no vc" thing, calm version known: TheMarker says the lab raised $55m equity + a separate $75m gpu fund unknown: do any investors hold $PEARL, and does that gpu fund mine it that's the real question. @prlnet hasn't answered yet still dca'ing from 1.98 / 1.79
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sources: TheMarker via the reporter: xitter.cf/doritsos/status/211429… recap: xitter.cf/DocumentingPRL/status/… bear case: xitter.cf/immutablejacob/status/… counter: xitter.cf/brezshares/status/2114… no official word from the team yet
Nipping this one in the bud right away. Pearl is a fair launch L1. There is no equity / token split. Pearl Research Labs is an equity business AI lab, completely separate from the token. The only way to acquire Pearl is to mine it, or buy it from a miner. This is no different than the multitude of Bitcoin core contributors that built and raised for projects on top of Bitcoin after launch, for example Lightning network or Blockstream. IMO it makes total sense that there will be things built on top of Pearl. This is very different from the typical equity / token split concerns that emerge when holding a token is meant to represent interest / exposure to a business
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brazil's stock market was closed when lula won. hyperliquid wasn't xyz:EWZ, the hip-3 perp on the brazil etf: > friday nyse close: $42.59 > weekend high: $46.30 > 01:00 msk: steps down to $42.59, then $40.46 > 03:00 msk: wicks to $32.63, polymarket posts lula 99% > now $34.15, -20% vs friday's close. ~$40m traded in 4 hours friday i said hip-3 was 48% of hl perp volume. this is why, i think. a 24/7 price for something that can't trade yet ewz opens on nyse in a few hours. over or under $34.15?
trade.xyz did $3.5b in the last 24h. btc on hyperliquid did $2.0b. hip-3 is 48% of hl perp volume right now wednesday i said buybacks only matter if the volume keeps coming. this volume barely feeds them: 97% of hip-3 runs in growth mode, fees cut 90%+, deployer keeps half 30d buybacks $66.5m, -16% vs the 30d before. still holding hype. the line i watch is crypto perp volume, that's where most of the buyback comes from
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numbers: hyperliquid api (xyz:EWZ 1h candles, markPx, dayNtlVlm), friday close via yahoo finance. polymarket calls: xitter.cf/Polymarket/status/2114… and xitter.cf/Polymarket/status/2114…
BREAKING: Polymarket.‍com projects President Lula will win reelection in Brazil, defeating Flávio Bolsonaro in the presidential runoff — 99% chance.
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my var points cost me ~$8-9 each to farm. otc pays $30-45. that gap is the whole trade, and it's closing this is what other farmers in our chat paid, last two weeks, names removed: > us100 swaps only: ~$14 a point > 550k volume, low leverage: 7.5 points, about 0.7 per $1k margin > low oi alts (aster, uni, lit, ltc, link, ena, aave, xrp): $14.69, no better than majors > holding 5-6h on gold and index swaps: $10.39 > outside the chat, one farmer posted $11 the same week context first. var pays 150k points a week, week 45 went to 32,302 accounts. snapshot is thursday 03:00 msk, drop is friday 03:00 msk, so wednesday night volume still counts for the current week here's the play as i see it: 1. swaps. the us30 swap ticket shows a 0.0005% spread and a $0 fee (screenshot 2), and swaps are said to pay 2x other markets. haven't run us30 myself yet, that's just what the ticket shows 2. holding beats churning. 5-6h holds came out cheapest, but funding on a big position held for hours eats the edge. a cost per point without funding is a fake number 3. thin pairs pay more per dollar. some give 1 point per $30-80k of volume, majors barely make sense 4. leverage helped. $10k at 50x converted better than bigger size at 15x. that door is closing, leverage got cut to 10x on a lot of pairs this week 5. trader rewards, the one most people skip. var set points aside for ~10k wallets that traded size on hl, lighter, aster and other perp dexs but never joined var. you sign up and hit a volume target to claim it: 20 pts after $1m, 200 after $5m, 1,500 and 3,000 for the top tiers at $25m / $50m. 844 of 10,000 claimed at the last count i saw. 200 pts is ~$7.4k at $37 what makes it more expensive from here: > the farm already got extended once. every extra week is 150k more points into the same 32% > farmers in our chat say the mobile 2x got removed, and phone farmers saw costs go 2-2.5x my numbers: +672 last week, 3,317 total. at ~$8-9 a point even the $30 ask is 3x+ what's your cost per point this week, funding included? omni.variational.io/?ref=OMN…
my var points, friday snapshots: 02.10 2,487 09.10 2,538 16.10 2,645 23.10 3,317 +672 last week. the two weeks before that did +158 combined 672 is 0.45% of the 150k weekly pool. at the $37 otc from yesterday's post that's ≈ $24.9k for one week. at a $2b fdv it would be ≈ $39k my guess on the jump: less volume chasing the same 150k that week. one farmer posted +140 pts at ~$11 a point the same friday, so it wasn't just me next drop lands friday night msk. i'll post the 30.10 number either way, good or bad did your last drop go up or down? omni.variational.io/?ref=OMN…
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11 days ago i first posted $ZRO at 1.89. 3 days ago i said watching, not chasing. it's 1.69 now what i was underweighting: nov 20 unlock, ~23-26m zro, ~$39-43m at today's price, ~6% of the float. it lands 10 days before zero mainnet + lzatlas go live on nov 30 the burn side, quick math. 75% of post-rebate atlas fees buy and burn zro, venue rebates run 20-65%. so atlas needs ~$68-155m in fees a month just to absorb one unlock like this, and they keep coming monthly i think the unlock is the november story and the burn is a 2027 story still holding, watching nov 20 what monthly atlas fee number would make you add?
yesterday i posted "+7% since the post" on $ZRO today it's back at 1.89, the exact price i first posted it at. full round trip in a day nothing in the thesis moved tho. zero mainnet + lzatlas still nov 30, 75% of post-rebate atlas fees still buy and burn zro. watching, not chasing
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trust check: papertrade, the 1000x perp on hyperliquid you farm by losing. the team says the first builder codes go live onchain tonight, so before you route volume there: > x acct: created may 2022, 79 posts, 51.6k followers, follows 3 > ethos: 1354, 74 reviews, 18 positive / 44 neutral / 12 negative. all 12 negatives came in ~20h on 23.10. titles: "changed the rules", "can't even sell it", "bait-and-switch" > fees per defillama: $25.2m on launch day, $177k on 21.10, back to $1.34m on 24.10. ~$66m all time > $PAPER still isn't transferable. the team's reason: a liquid token could fund an attack on the house pool > defillama lists 0 audits verdict: the fees are real and bounced. the token you earn by losing still can't leave the contract. not routing volume there until there's a transfer date
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my var points, friday snapshots: 02.10 2,487 09.10 2,538 16.10 2,645 23.10 3,317 +672 last week. the two weeks before that did +158 combined 672 is 0.45% of the 150k weekly pool. at the $37 otc from yesterday's post that's ≈ $24.9k for one week. at a $2b fdv it would be ≈ $39k my guess on the jump: less volume chasing the same 150k that week. one farmer posted +140 pts at ~$11 a point the same friday, so it wasn't just me next drop lands friday night msk. i'll post the 30.10 number either way, good or bad did your last drop go up or down? omni.variational.io/?ref=OMN…
my var points are worth $122.7k at today's otc. haven't sold a single one var points trade at $37 otc right now, quotes running $33-45 today. that's the market pricing $VAR at ~$1.27b fdv the math is short: 32% of supply goes to points holders, unlocked at tge ~11m points by the end of the farm $37 x 11m / 0.32 = $1.27b polymarket, fdv one day after launch: above $1b 54% above $2b 25.8% above $3b 11% so otc buyers pay roughly the coin flip price. at $2b a point is $58, at $3b it's $87. for scale lit sits at $3.04b fdv today, aster at $5.42b what i'd watch more than fdv: launch before end of november is only 25%, before year end ~80%. every week past the plan adds another 150k points into the same 32% full table below. 3,317 points and counting, i farm it every week omni.variational.io/?ref=OMN…
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yesterday i said lose 1.93 and the next bid is ~1.84 $PEARL lost it last night, wicked to 1.81, sitting at 1.84 now. first tranche from 1.98 is -7% btc is flat on the day, so this one isn't the market. no news i can find either, coinbase still says roadmap that's why it's a dca and not one entry. next level on my chart is 1.65-1.67, the oct 15/17 lows holding, still dca-ing. where's your bid?
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the chart for this one, 1.84 tagged and 1.65-1.67 next
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second clip in at 1.79. avg now under 1.90, next bid still 1.65-1.67 if it gets there
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lighter core passed 1m accounts this week and weeth works as collateral now. lit at $3.25, ~$813m mcap, +4% on the day frontends keep plugging into the same books too, openmarket routed 208 markets in this week. dyor on any frontend before connecting a wallet, the books underneath are lighter either way market prices lighter like one app. i think the books everyone routes into are the actual moat
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machi got liquidated 5 times in one hour on hyperliquid. ~$5k left hl did ~$2.5m in fees yesterday, and liqs pay fees like everyone else i hold $HYPE. every forced seller on there feeds the buyback bid. weekend dumps are a revenue event for the protocol, not for us
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