1 minute a day. $0 at risk. Is Titan Exchange worth farming? It's been around 2 weeks since @TitanExchange_ launched its incentivized testnet on Canton Network. And points are already being distributed weekly. My current stats: – 1,358 points – Rank #972 – $3M in testnet trading volume Mainnet is expected in approximately 4–6 weeks, according to the current timeline. So why am I still farming? 1. The risk/reward is hard to ignore You can trade with free testnet funds. No real capital required. No real trading fees. I'm not expecting these points to be worth a fortune. There's no confirmed token or airdrop valuation. But the equation is simple: – Worst case: I waste 1–2 minutes a day. – Best case: These points eventually translate into real rewards. For me, that's an attractive asymmetric opportunity. 2. Titan is targeting a different market Most Perp DEXs compete for the same crypto-native traders. Titan's ambition is different: build a privacy-focused Perp DEX on Canton, an ecosystem designed around institutional finance, with compliance and performance as key priorities. That's an interesting angle. But let's be clear: Canton's institutional connections are not the same as confirmed partnerships or backing for Titan. The project is still very early, and execution will matter far more than the narrative. 3. The team is actively improving the testnet Titan Update #1 just introduced a substantial set of improvements: – Redesigned trading and position management – Better order book and limit-order tools – Clearer fees, funding history and net PnL – Improved mobile experience – More chart customization – Faster leaderboard and improved rewards interface These aren't groundbreaking features individually. But they show the team is iterating on the product rather than simply running a points campaign. We'll see how that translates into mainnet. > My approach? I'm not going to spend hours farming a testnet with imaginary money. But opening a trade each day, spending a minute or two and accumulating points for free? That makes sense to me. Titan doesn't need to become the next Hyperliquid for this to be worth my time. It just needs to reward early participation. And even that isn't guaranteed. Testnet: testnet.titanx.cc/?ref=SMART

Testing Fables: Fees, Points and What’s Next I’ve recently started testing @fablesfi , a DEX on Robinhood Chain built around Uniswap v4 liquidity pools. It’s still early, but the combination of trading fees, points and upcoming ve(3,3) incentives has caught my attention. A quick overview: 1. The metrics Fables has been live for less than two months, with most of its growth taking place during September. Current approximate figures: - $48M in total deposits - More than $2.1B in cumulative volume - Over $4M in fees generated for LPs - Around 50 active markets - Approximately $100–130M in daily volume The most interesting metric is capital efficiency: roughly $48M in deposits has supported more than $2B in trading volume. Liquidity is not simply sitting idle. It is being actively used and generating fees. 2. Why I’m paying attention Fables offers another place to manage concentrated liquidity instead of using only Uniswap. What I like: - A clean and straightforward interface - Dynamic fees adapted to each market - Trading fees distributed to active LPs - Selected pools can also generate Fables Points - Zap-In allows you to create a position using only one asset - Upcoming ve(3,3) incentives could create new yield opportunities Zap-In makes the process much easier, although preparing both assets manually may sometimes be cheaper. 3. How the points work Not every market is eligible for points. To earn them, you generally need to: - Provide liquidity to an eligible market - Keep that liquidity active and within range - Generate trading fees with your position Points are distributed according to fee contribution, so depositing liquidity alone does not necessarily guarantee meaningful rewards. Smaller and more speculative markets may have LP opportunities without being included in the points programme. Eligibility should always be checked before opening a position. 4. The relevant dates The current points campaign is approaching its end: - Points programme: scheduled to finish on October 19 - $FABLES launch: announced for October 20 - ve(3,3): expected to go live from launch This means the current points opportunity has a limited window. However, I do not see that as a reason to rush into a position. The pool must make sense based on fees and risk first. Points should be treated as an additional incentive, not as the entire thesis. 5. The potential win-win My current approach is simple: - Use selected pools to generate trading fees - Accumulate points when the market is eligible - Test the platform with limited capital - Measure the real APR over time - Reassess everything once ve(3,3) goes live If I can use a pool that already makes sense for my strategy, generate yield from it and receive points at the same time, that is a win-win. The position still needs to be profitable without assigning any guaranteed value to those points. 6. The risks Fables does not remove the usual risks of concentrated liquidity: - Impermanent loss - Positions moving out of range - APR falling when volume decreases - Yield being diluted as more liquidity enters - Exposure to both assets in the pair - Zap-In costs, price impact and slippage - No guaranteed value for points or future incentives Displayed APR is backward-looking and can change very quickly. 7. My conclusion I’m only beginning to use Fables and have not committed all my liquidity. For now, I want to evaluate: - Real fee generation - APR stability - Capital efficiency - The user experience compared with Uniswap - Which markets receive incentives after launch - Whether ve(3,3) rewards remain attractive after dilution The early growth and trading volume make Fables worth monitoring. If returns remain competitive after the points campaign ends, it could become an interesting venue for selected liquidity positions on Robinhood Chain. Referral link for anyone who wants to explore in the first comment

Week 6 - @Lighter_xyz × Robinhood points Best week so far. → 45.5 pts this week → $905.7K volume → +58% points vs last week → Previous week: 28.8 pts Halfway through the week I started changing my strategy: less focus on generating raw volume and more on maintaining OI, mainly through the SPY / QQQ strategy I explained below. And the first results look promising. The important part: this wasn't even a full week running the new strategy. Next week I'll try to maintain around $50K OI throughout the entire period and keep rotating positions roughly every 24h. That should give us a much cleaner comparison. Still too early to draw conclusions, but OI is becoming increasingly interesting to me vs simply chasing volume. If you want to track your own weekly activity/points, the tool I built is in the quoted tweet below. Let's see what W7 brings.

One month later, I checked the same 4 early-stage Perp DEXs again. TL;DR: 🔹RISEx → Leader 🔹PERPL → Declining 🔹TxFlow → Growing 🔹Arcus → Exploding July already showed some interesting trends. August made them much clearer. Not just Volume or Open Interest, but how each protocol is actually evolving 👇 > RISEx - @risextrade Still the leader in terms of execution. - OI: $33.4M → $54M (+62%) - 30d Volume: $3.01B (+22%) And what's more important to me: the product keeps moving forward. More RWAs. More commodities. More markets. Ignite farming is now several weeks in, but we're still relatively early in what is expected to be a long campaign. There was also a minor incident involving an RWA strategy on August 3. The team reacted quickly, resolved it and covered the losses. I'm still the most bullish on RISEx out of these four, especially because of what they're building technologically on-chain. > PERPL - @perpltrade This is where August gets interesting. - OI: $13.0M → $2.76M (-79%) - 30d Volume: $1.86B (+68%) Volume went UP significantly... while Open Interest collapsed. That's quite a contrast. My impression remains similar to July: incentives are generating activity, but I haven't seen the same aggressive product expansion in terms of new markets/features. It increasingly feels like liquidity is being driven by rewards rather than organic product expansion. And once incentives cool down, OI seems to be cooling with them. I'm still not actively farming PERPL, so I have no referral benefit here. If you're interested, check their official X for any current campaigns or community codes. > TXFLOW - @TxFlow_L1 Probably still the quietest builder of the four. - OI: $13.0M → $23.2M (+79%) - 30d Volume: $2.03B (+56%) That's actually a very strong month. Especially considering there's still no official points campaign. The product already has a surprisingly wide range of markets: Crypto + RWAs + mobile app + advanced orders. There's still speculation around a potential hidden season / retroactive rewards. Nothing confirmed yet. But if incentives eventually arrive, it'll be interesting to see what happens to these numbers. Definitely one I'm keeping a close eye on. > ARCUS - @arcus_xyz Probably the biggest change compared to my July analysis. - OI: $7.2M → $13.3M (+84%) - 30d Volume: $250M → $1.94B That's almost 8x the monthly volume. In July I said Arcus was simply too early to judge because access was extremely limited. August changed that. More users gained access and activity exploded. It's still early, but now we're finally getting enough data to start evaluating it properly. September will be very interesting. > Conclusion Four early-stage Perp DEXs. Four very different trajectories. And that's exactly why I want to keep tracking this every month. Which one looks the most interesting heading into September?

How much could each point from the @Lighter_xyz × Robinhood campaign be worth? My thesis is that this could be a long campaign, potentially running until late December. > Why December? Because Lighter has an important token unlock window approaching at the end of the year. I think the campaign could be used to maintain activity and attract new users leading into that date. That would give us an estimated campaign duration of around 20–22 weeks. > Points Supply Now let’s look at the points supply. Based on the first distributions: → 65,000 points in the Friday drop → Around 5,000–10,000 live points during the week → Estimated total: 70,000–75,000 points per week Over 20–22 weeks, approximately 1.4M–1.65M points could be distributed. > Price per Point Assuming the full 11M $LIT pool is allocated through points, their potential value would be: 🔴 $LIT at $2 → $13.33–$15.71 per point ⚪️ $LIT at $3.30 → $22.00–$25.93 per point 🟢 $LIT at $4 → $26.67–$31.43 per point 🚀 $LIT at $5 → $33.33–$39.29 per point These are estimates, not confirmed figures. The final value will depend on: → How long the campaign lasts → How many points are distributed each week → Whether the full 11M $LIT pool is allocated through points → The price of $LIT at distribution But based on the information available today, my current estimate is around $22–$26 per point at the current $LIT price. As volume, open interest and participation increase, earning each point will probably become more difficult. That’s why I prefer to position early, using delta-neutral strategies while carefully controlling spreads and funding.

NEW FREE AIRDROP just dropped @commonsmade is about to take over your timeline. It’s a social reputation airdrop where you can’t farm alone, you can only earn through other people’s vouches. How it works: - Connect your X account - Your base score depends on your X, Ethos and GitHub reputation - A vouch adds points; a slash removes them - You only have 5 vouches and 5 slashes - Each vouch gives someone else 35% of your score The Top 1,000 users have already been confirmed for the airdrop. If I make it into the Top 1,000, I’ll give some of my allocation back to the community How do you vouch for someone? Simply reply: “Hey @commonsmade, I vouch for @ USERNAME” Replace “@ USERNAME” with the X username of the person you want to support. To slash someone, use the same format: “Hey @commonsmade, I slash @ USERNAME” That’s it. A vouch adds points; a slash removes them.

Remember @GTE_XYZ? it was supposed to be one of the flagship DEXs on MegaETH. then they left. and now it's becoming pretty clear why. GTE is building “The Internet Exchange” -one place to trade: → crypto & perps → tokenized stocks → commodities → RWAs 24/7, non-custodial and targeting CEX-level execution. but here's where it gets interesting: they're no longer just building a DEX. they're building GTE Turbo, their own trading-specific infrastructure designed for global markets. they've already had 1M+ users on testnet and raised $25M+ from names like Paradigm, Wintermute, IMC & Auros. now the team is shipping again and the waitlist is live. I wouldn't wait until everyone starts talking about GTE again. join the WL here ↓ waitlist.gte.xyz/r/KBXMB

How much could your RISEx points be worth? That's the question everyone is asking. So I decided to build a free tool to help the community explore different valuation scenarios using public assumptions. Today I'm releasing the first public version of the RISEx Community Dashboard. What you can do today (v0.31): - Estimate the potential value of your points. - Compare Bear / Base / Bull scenarios. - Create your own valuation model with custom assumptions. - Benchmark against previous perpetual DEX launches. - Use it on both desktop and mobile. 🔗Try it here: smartdrop-risex.vercel.app/ But this is only the beginning. The next major update (v0.40) will focus on something I think is even more valuable: > Weekly Farming Analyzer Simply upload your RISEx Trade History CSV and the dashboard will automatically calculate: - Weekly points efficiency - Maker vs Taker volume - Fees paid - PnL - Cost per point - Shareable performance summaries for X The goal is simple: help every farmer understand exactly how efficient their strategy is and how to optimize it week after week. This is a completely free, independent community project, and I'd love to build it together with your feedback. If you haven't started farming RISEx yet, you can join here: rise.trade/invite/smart

Missed the Jito airdrop? Don't be late this time. If you've been around Solana for a while, you know what @jito did. One of the best risk/reward opportunities we've seen: - Low capital -Almost no effort -Huge upside for early users This time, they're building JTX. Yes, another perp DEX... But let's be honest: In a market full of perps, only a handful will survive. @jtx_trade has a real shot because it brings: - Built by the team behind Jito - Self-custodial trading - Pro spot trading - Perpetuals powered by Phoenix - Prediction markets coming later - A serious challenger to Pacifica on Solana Right now there's nothing to farm. Just join the waitlist with an email or wallet. That's it. Join here: jtx.com/ref/Smartdrop Once it launches in July, we'll see how incentives work (if any), and I'll share guides and the best strategies to maximize the opportunity. Better to be early than sorry.

Using tokenized stock LPs to get passive crypto exposure + farm X-Points. I’ve started building passive exposure to crypto-related equities through LPs on Solana. Main positions right now: 🔹$MSTRx / USDC 🔹$COINx / USDC > Main thesis: - exposure to crypto through traditional market stocks - earn trading fees - low-maintenance positions - farm X-Points on @xStocksFi as an extra layer The X-Points are honestly just the second-order effect. Yes, these pools accrue points for the future xStocks ecosystem/airdrop. But the core idea is having positions I can open today and barely touch for months. $MSTRx thesis: -probably the strongest BTC proxy in TradFi - wide LP range: 100 → 224 - current APR around ~30% - designed to stay in range for long periods $COINx thesis: - higher beta to crypto markets - stronger volatility = stronger fees - range: 139 → 220 - APR fluctuating around ~30–45% What’s interesting to me is seeing traditional equities becoming fully composable DeFi assets on Solana. And if that also farms X-Points in the background, even better. Interested in positioning early for the xStocks ecosystem + potential airdrop: defi.xstocks.fi/points?ref=Z…

Unpopular opinion: I’m still going to keep betting 99.5%–99.9% markets on @Polymarket. Maybe they’ll have lower weight for the $POLY airdrop. Maybe weighted volume favors riskier trades. I honestly don’t care that much. Over the last 5 months, this strategy has generated roughly ~56% annualized returns on my stablecoins. And I only lost ONE bet the entire time. Not even a 99.5%+ market, I lost because I abandoned my own system. I’m also pretty sure $POLY will end up being one of the biggest airdrops in crypto. But we still know almost nothing: - allocation size - release date - vesting or no vesting - final weighting formula - actual eligibility rules So I’d rather secure real profits today than speculate on maybe getting a bigger allocation later. If the airdrop comes, great. That’s extra upside. My strategy is simple: Keep compounding with “safe” bets and stay consistently profitable. What kind of trader are you? The one securing consistent profits… or the one taking more risk chasing bigger upside?

A lot of $HYPE holders probably feel the same right now: You don’t really want to sell your HYPE… But after seeing it push close to $47, doing nothing also feels wrong. So here’s what I started doing with a percentage of my bag on @prjx_hl 👇 > WHAT? I opened two LP positions: → HYPE/USDT → HYPE/USDC Same range: $38 → $50 > WHY? Because I wanted a way to: Generate yield while volatility stays high Slowly sell into strength automatically Accumulate more HYPE if price pulls back Avoid emotional decision-making > RESULT? Interestingly, despite the USDC narrative and Circle integrations… HYPE/USDT is currently generating more yield: → HYPE/USDT: ~150% APR → HYPE/USDC: ~144% APR Not saying one is permanently better. Just showing that actual yield ≠ theoretical expectations. > MY THESIS: 🔹If HYPE keeps sending: → I derisk gradually into stables. 🔹If HYPE corrects: → I accumulate more HYPE lower 🔹Meanwhile: → I keep farming fees on both sides. > Important: This is only for a percentage of my HYPE holdings. I still keep a separate long-term bag untouched in case the market keeps pushing higher.

Want to farm the xStocks narrative with stablecoins… while simultaneously qualifying for another airdrop? There’s currently a pretty interesting “2x1” setup using mostly stables through @apyx_fi . Here’s the thesis: @xStocksFi has already been running its xPoints program for a while: - Trading tokenized stocks - LPs - Lending/borrowing all generate xPoints. Register here for the permanent boost: defi.xstocks.fi/points?ref=S… The important part: Protocols integrating xStocks exposure are also accumulating xPoints internally. @apyx_fi is one of them. So instead of directly farming xStocks yourself, you can: → deposit USDC → get apxUSD or apyUSD → while indirectly farming xStocks/xPoints too That’s the “2x1”. Now, there are basically 2 main ways to play APYX: 1. Hold apxUSD The simplest strategy. → Deposit USDC → Receive apxUSD → Start farming APYX points apxUSD itself does NOT generate the native ~10% APR. But: - you keep full liquidity - you can simply hold it - or deploy it across DeFi (Pendle, Morpho) This is the more flexible and conservative approach. 2. Stake into apyUSD Here you convert apxUSD into apyUSD. This version: - earns the native ~10% APR - keeps farming points and can also be combined with some DeFi strategies But there’s an important tradeoff: → unstaking takes 20 days. So you gain yield, but sacrifice liquidity. Also important: - main liquidity is on Ethereum - Base liquidity is thinner - swaps can have noticeable spread/slippage So overall: - apxUSD = more liquid/flexible - apyUSD = higher yield but less liquid APYX: app.apyx.fi/join/d81j23p And the timing is still surprisingly early: ~3.2k total users 2 confirmed Seasons 9% of supply allocated - S1 → 5% - S2 → 4% So this isn’t “risk-free yield”. But for idle stablecoin capital, this is one of the cleaner asymmetric setups I’ve seen recently: farm xStocks exposure + position for the APYX airdrop at the same time.

If you’re farming on 01 Exchange, you can get 5% off fees Public Mainnet Alpha (v0.15.0) is now live: – Trading is open to everyone (no invites needed) – Referred users still get a 5% fee discount – HyperEVM deposits & withdrawals are now available To get the discount, you just need to use a referral code (any works) If you want to use mine, here it is: 01.xyz/ref/smartdrop

Felix Points Program Ends If you’ve been farming @felixprotocol , the points system is now officially over. I finished with ~165 points, ranking 3087 / 52,961 I’ll be sharing some estimates on the value per point later this week. Is the TGE and airdrop getting closer?

Very bullish news around @Lighter_xyz lately… ▪️ Telegram integration. ▪️ $14.4M Q1 revenue. ▪️ +20K users in minutes But the real question is: Will any of this actually be reflected in LIT’s price? 👇 After the recent announcements, I took a deeper look at Lighter and there’s a clear disconnect between the protocol and the token. Let’s break it down: 1) The protocol is executing extremely well → ~$4.8M monthly revenue (Q1 2026) → Telegram Wallet integration → access to millions of users → +20K users joined within minutes → Strong pipeline (Robinhood, Coinbase, etc.) → Working towards a CFTC onchain derivatives license Even in a weak perp DEX environment, Lighter keeps shipping. This is real distribution + real usage. 2) But the model is different (and this matters) Unlike Hyperliquid: → Lighter is pushing a 0-fee trading model for users → Revenue comes from alternative mechanisms (not pure trading fees) This is powerful for growth… But also means: → Lower revenue per user (for now) → Heavily dependent on massive scale to match competitors So if Lighter reaches Hyperliquid-level adoption → model wins big If not → revenue will always lag behind 3) Revenue & buybacks Lighter: → ~$14.4M Q1 revenue → Fees routed to treasury → currently ~100% used for buybacks → 9.55M LIT bought (~3–4% supply) Hyperliquid: → ~$206M Q1 revenue → 97–99% fees → automatic buybacks + burn Both return real value. But: → Hyperliquid = scale + efficiency → Lighter = growth-first + optionality 4) The token tells a different story Despite: → Strong product execution → Growing user base → Major usage unlock (Telegram) → Active buybacks LIT price action has been… underwhelming. Even the recent bounce happened in a weak market context for perps overall. And one thing stands out: → Large % of supply is staked → Yet consistent sell pressure remains So… who is selling? > Final thought This feels like a classic crypto dislocation: → Strong protocol momentum → Early-stage growth model → Token not reflecting fundamentals (yet) But there’s also real execution risk: The model needs scale. > So the bet is simple: Does Lighter reach mass adoption… Or not? Curious to hear your take, is LIT undervalued here or fairly priced given the model?

Sometimes a small loss is actually a win. Airdrop farming isn’t what it used to be. More effort, more fees and often, losses. If you’re down, you’re not alone. 🔸Take Backpack: solid product, strong tokenomics… but poor launch decisions destroyed community trust. Most farmers ended up negative. 🔸Based? Decent product, but high fees, weak tokenomics, and brutal competition. > Now zoom out. This market doesn’t reward holding. Not now. Yes, we’ve seen a small bounce, but macro is still hostile: war, uncertainty, and a potential long bear ahead. If BTC revisits 60k… where do you think these tokens go? Who’s buying tokens with unhappy communities and failed airdrops? Be realistic. Holding just because you’re down isn’t conviction, it’s hope. Set invalidation levels. Exit when needed. Free your capital. Because sometimes, taking the loss… is the real win.

X-Points are now live on @xStocksFi and you can already check them in the dashboard. Points accrue every 24h, and mine are already coming from: - xStocks used as collateral (borrow) - LP positions There are also social quests that give multipliers, so the earlier you complete them the better. Active now: - Link your Telegram - Daily GM (up to 10) → extra points But the interesting part is this: You can run a delta-neutral strategy farming ~20% APR without direct market exposure by combining the right protocols. Basic idea: 1. Buy a liquid xStock (ex: $TSLAx) 2. Supply it on @kamino (+~2.73% incentives) 3. Borrow ~50% in USDC (-4.47%) (+~2.73% incentives) 4. Send USDC to a perp exchange earning yield on collateral (~11%) like @grvt_io 5. Short the stock perp → stay market neutral 6. Get around 11% APR due to funding fees On GRVT, limit orders don’t just have zero fees, they actually pay a small rebate, which slightly improves the strategy returns. Result: - Farm X-Points - Farm perp Airdrop • ~20% APR while staying neutral Links below 👇