dropped college for whitepapers, no ragrets 🥄 · worked with 50+ protocols · yield / LSTs / L2s / RWA · truth & TL;DR maxi
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Joined May 2021
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What would you do if you were to "make it" financially? (this is subject to every individual)
Would you keep working, or would you go the "hedonistic" route and just try to "enjoy life" as much as possible?
Also, what is a "I made it financially" scenario for you?
To me, it's this:
- being debt-free
- being healthy again
- having ~$50k to $100k in savings
- having a home/flat, and being surrounded with family and friends
- having time to do what I believe is best - use my God-given talents the adequate way
What would I do if I was in that position?
I'd probably spend a good amount of my time drawing (I draw hyperrealism in pencil and charcoal), and doing work on different, more humanitarian-oriented, Christ-centered fields.
Below are some of my drawings, if you'd like to have a look into them.
GM 🤝
So.... markets are (again) acting like they got hit by puberty?
Anyway, Fidelity's director of global macro posted this handy chart, showing how BTC has been priced against gold over time, alongside where ETF money has been flowing.
Gold fell 28% from its January peak, but hear me out:
a stablecoin that makes its money leasing gold to refiners is still paying 5.1% APY (and stacking up points). Yup, I'm talking about @theo_xyz 🫡
TL;DR: crypto, stocks, gold and silver all took a hit this year, but for some reason central banks, ETFs, and Tether kept stacking up metal through the dip... Theo turns that demand into yield: it leases gold and silver to industry and hedges the price with CME futures, so thUSD earns without riding the drawdown. Theo's thGOLD and thSLVR are stil in limited access tho, but they clearly show where Theo is heading.
Orange coin is trading at ~$80.7k (-36% from the $126k top) and US spot BTC ETFs are bleeding, too (lost about $772M in 2 sessions). Stonks aren't really in the green either, with the Nasdaq printing its worst day (4 days ago) since June.
Boomers gonna spam your (physical, not virtual) mailbox saying it's the right time to get some gold. And they might be somewhat right although gold and silver got hit as well. Gold is down 28% from its ATH, while silver went a step further (or lower) - 55% down from ATH prices.
The "funny" part is, the biggest buyers keep buying (no, it's not Peter Schiff). No cap, although gold fell 8.5% last month, ETFs took in $10B during the same period, pushing their holdings to a record 4256T (tonnes, not trillions). Central banks bought about 63 tonnes (their most degen month since November 2024), with China adding 23 tonnes for its 23rd straight month of buying (I guess they call this "GCA" - gold cost averaging). Btw, Tether now holds more than 146 tonnes of gold, backing USDT. If Tether was a country, it would've been in the top 20 gold holders globally.
Anyway, not everyone's into gold. Or gold only, for that matter. Fidelity's Timmer says he's bullish on both.
Back to the main topic: how do you hold commodities (gold and silver, in this case) without facing drawdowns? It's easy: use Theo's products. Well, thUSD for now (yields and points). If you want the price exposure too, you'll have to wait for Theo to open thGOLD and thSLVR for everyone (no public launch date so far).
Numbers say that the tokenized commodities market went from $1.43B at the start of 2025 to about $5.88B today (talking about market cap here), and that's with gold's drop dragging the USD value lower. Theo's CIO @iggyioppe expects tens of billions within 5 years and over $100B within a decade. From the looks of it, I believe he could be right.
Take this as a reflection on precious metals. Also, me pointing fingers at Theo, a project I really like. See the next post for more info.
In case you're actively farming yield (not rampant APYs tho, but safu), while fetching points (in case you want a potential a1rdr0p), be sure to read this piece I wrote not so long ago:
xitter.cf/monosarin/status/21106…
You faded Ethena? Maybe @theo_xyz is your redemption arc.
Ethena turned crypto leverage into a synthetic stablecoin: hold the asset, short the perp, scoop the funding. With >$4.5B in TVL and its native token sitting at an fdv of almost $2.8B, Ethena is obviously a DeFi giant.
Can Theo do the same?
Well, it's not impossible (it's also not financial advice).
Theo runs the same trade, but on real world assets. For example, it buys physical gold, leases it to refiners and fabricators who need this shiny metal in their workshops, and shorts CME gold futures so price moves cancel out (delta neutral). What's left are 3 income streams: the lease fee, the difference between futures and spot, and T-Bill interest on the margin. You read that right, none of it needs crypto funding rates to stay positive.
Theo's TVL accounts for $144M, its thUSD supply is $132.3M against $133.4M in reserves, meaning, it's overcollateralized at 100.83%. There are a few way to earn yield (and points!) on your thUSD and if staking is what you prefer (I prefer steaks), then know that sthUSD pays 5.1% right now. If you don't mind being locked in for some extra yield, you can toss your thUSD into the 6-month Core+ or Boost Vault and enjoy 7.2% APY and 11% APY, respectively. Plus points: the Core+ Vault comes with a 4x multiplier, whereas the Boost one with a 2x. If you hate lock-ups, you might as well just hold thUSD in your wallet and enjoy a 2x multiplier on your points (but no yield). If you want to participate, feel free to use my referral so we both win: app.theo.xyz/referrals?invit…
Alrighty, onto the next topic (the one I'm quoting): thSLVR. Yes, it's about silver. Each thSLVR is backed by one troy ounce (31.1g) of physical silver that Theo leases to industrial borrowers, and the lease fee gets paid back to stakers in silver.
Interesting facts about this shiny metal:
- it conducts electricity and heat better than any other metal, so it ends up in data centers, power grids, (nuclear) reactors and aircraft. That's actually bullish because these industries are very hot at the moment. More than half of silver demand comes from industry. For gold, it's under 7%. Central banks lend gold into the market but hold almost no silver, so when borrowers look for silver, lease costs start poppin'. A year ago, the one-month lease rate hit a record 34.9% against a regular sub-1%. In other words, borrowing 1kg of silver for a month suddenly cost about 29g of extra silver (yup, borrow silver, return silver + extra silver), when it usually costs less than 1g.
Fun fact: According to @RWA_xyz , barely $33M of silver lives on-chain today; Theo's thSLVR supply alone already represetns about $19M (roughly 9.6 tonnes), and the team says more than $40M in silver leases is already running.
No native token (yet), but the points program is live. You know how the Ethena story went.
GM🤝
Wirex, The Wire... I know, I know. But hear me out, because there's an actual connection here (sort of).
In The Wire, Lester has this line that stuck with everyone who watched it: "all the pieces matter". And that's pretty much why the point @wirex_one makes here works.
On the surface, Wirex One is a card you already know how to use. Visa or Mastercard, Apple Pay, Google Pay, USD and EUR account details. Nothing new to learn.
Underneath though, all the pieces matter. Your money sits in stablecoins, in a wallet only you control (no seed phrase to babysit), cashback comes back in USD (up to 8%), and every card payment settles onchain.
And people use it like a normal card, 24 transactions per active address in September, based on Paymentscan. That's daily life routine.
McNulty spent five seasons chasing where the money goes. With Wirex One the answer is easy: a wallet you control.
Fat article coming very soon.
1/ Wirex One is now open to the public & live on @Arc. 🤝
Stablecoin neobank built for mass-affluent consumers is now public, bringing spending, banking, borrowing and trading into one onchain financial experience.
This one didn't receive enough attention so let me TL;DR it for you.
Basically, @pendle_fi 's TVL has grown by 43% while emissions went down by 58%.
In other words, you don't need to pay for TVL with your own tokens. ethereum:0x808507121b80c02388fad14726482e061b8da827 buybacks turned out to be a smart move. As for buybacks, these oftentimes (not always tho) outperform emissions, meaning, more tokens have been bought back (and distributed to stakers) than were emitted during one epoch.
If I were to create lists of tokens I'd be scooping, Pendle's would definitely be on one such list. NFA, obviously.
Btw, I suggest/recommend you check out @Shaurya477 's Penconomics site for more info. Find the link to that one in the image description below.
ALT https://penconomics.vercel.app/#top
Pendle V2 capital closed Jun 30 at $809M and Sep 30 at $1.16B.
That 43% gain came in the quarter Pendle cut its PENDLE incentives 58%.
Issuers, chains and lenders funded the growth with their own rewards and collateral.
ALT Native Pendle V2 capital closed Jun 30 at $809M and Sep 30 at $1.16B, up 43%. A callout marks Aug 11, when X Layer markets opened.
GM🤝
Sooo...mem0 (AI memory layer for AI agents and apps) raised $24M and is (according to Caplight, a private-market data platform) valued at $150M, yet there's a project in this space sitting at a market cap of $500k ($836k fdv) doing the job way better than mem0 does. I'm talking about base:0x797f214a2cd64a4963a91fa21c8c55ec3eba4714 .
On a 350-question memory test, @sibyl_labs_ found the right record 350 times and mem0 found it 92. And the funny thing is, mem0 is backed by Y Combinator and is integrated into AWS's Strands Agents SDK as a memory provider.
TL;DR: Sibyl is a broader setup, but I'd say that Sibyl Memory is (at least right now) the flagship product; it's a plugin that gives AI agents memory that lasts between sessions (a feature I need) and it works with pretty much any MCP-compatible agent.
I think it's quite mispriced and overlooked so I'll post a fat article very soon.
A good memory solution makes an agent cheaper to run.
In an independent 500-company benchmark, Sibyl gave the model about 228 tokens of context per question.
The next-best engine read roughly 52x more. All 350 questions were retrieved, and the whole run cost $0.64.
Three habits keep your own sessions that lean:
1⃣Keep context small and let memory hold the rest. A lean context is faster, cheaper, and more accurate.
2⃣Move your CLAUDE.md or AGENTS.md notes or stray data & session context into memory once with sibyl migrate.
3⃣Save at the end of a session with sibyl-save, so progress carries forward and your working context stays clean.
How about you leave the trenches and enter tranches?
Built by my fav DeFi Chad @phtevenstrong , @mezzanine_fi has all it takes to become big. For those who don't know, mezzo (in Italian) means half or middle. Don't get confused, Mezzanine won't be "mid" nor a half-product.
TL;DR: Mezzanine stacks DeFi yield like floors inside a building: the lower you go, the more you earn and the sooner you get wet (in case there's a flood).
Most vaults give every depositor the same yield and the same risk. Mezzanine splits each strategy into tranches (French for slice) and lets you pick yours. The junior tranche takes the first loss for a bigger cut of the yield, and the senior one earns less while sitting behind the junior tranche.
The part I like is that junior's premium isn't fixed: the yield split adjusts on its own when the junior side runs thin, so junior depositors get paid more to fill it.
Each vault is isolated (and so is its risk), the loss order is set before you deposit, and the contracts went through Sherlock, ChainSecurity, and Certora (audits and formal verification).
Tranching doesn't remove risk, it reorders it so be sure to know which side you're on.
Expect a fat article these days. And some extra content once the app is live.
GM 🤝
So, the $STRK unlock came with green candles instead of red ones. And the timing lines up with the team kicking off a poll on Starknet becoming its own L1 (remember, if this happens, it is a massive thing for Starknet). Don't get confused, it's just a poll asking for approval to kickstart research on that topic (although I believe the team has already done their research anyway).
An actual switch would require its own, separate governance vote. Result? 99.95% of votes are in favor of the idea. However, it does not constitute approval of a transition to an L1. However, based on this result, if a proposal to transition Starknet to an L1 went to a vote, I believe it would pass.
Whether (or when) this transition happens is something I'll cover in an article (soon). For now, here's a TL;DR on why Starknet becoming an L1 would be bullish:
As a post-quantum L1, $STRK would secure the whole chain and capture all of its fees. Also, the chain would set its own security timeline instead of waiting on Ethereum's 2029 target, and @Starknet 's hash-based proofs are already live. Accounts can switch to post-quantum signatures without a hard fork, and BTC staking is already part of the consensus. STRK stays where it is (no need for a new token), bridges from Ethereum stay open, and the last scheduled token unlock for early contributors and investors lands in March 2027.
Basically, Starknet could become the first major smart contract chain that's fully quantum-resistant and private by choice.
This is by no means financial advice. I just like drawing parallels between projects that already popped (like ZEC), and those that I think have what it takes to pop (STRK).
GM 🤝
Up to 127M $STRK tokens will be unlocked tomorrow (based on the unlock schedule I found in the docs). That amount makes up ~1.7% of the circulating supply and is valued at ~$10M at the token's current price. And by the way, cumulative trading volume across CEXs and DEXs where STRK is listed is $3B in the last 30 days, so $10M is about a tenth of an average day's volume.
What to think of this? I have no clue, to be honest. Past unlock days haven't moved the price in a constant direction. For example, last November, STRK actually went up ~20%+ on the eve of the 127M unlock. And a month later, when another 127M tokens were unlocked, the price "dipped" about ~2%. Speaking of unlocks, which occur on a monthly basis, the last one is scheduled for March next year.
Now, the token is down 12% in the last 24h, but it's up 177% in the last 30 days. This could mean nothing, but it could also mean a ton of different things. Anyway, I'm not one of the folks who trade unlocks, I'm in here for the tech.
Haters gonna hate, but I actually love what the @Starknet team is doing. That said, I see STRK as a long-term bet (because I suck at TA and trading perps).
If you've been maxxing your $ZEC stash, you might as well check into $STRK (or wait for me to post a fat article soon).
TL;DR: ZEC sits at a ~$21B fdv and runs on privacy alone. STRK is under $600M and offers privacy for any token (orange coin included), plus full DeFi, BTC staking via delegation to validators, and a possible quantum-resistant L1 by 2027 (founder @EliBenSasson floated this just a couple of days ago). Fyi, Starknet's proofs are already hash-based, and this backs up the L1 point with something that exists and isn't just a fancy idea. On a side note, ~20% of circulating STRK is staked. And when it comes to privacy (to draw another parallel with Zcash), Starknet's privacy is built to work with regulators (don't forgetti, the EU is set to push privacy coins off regulated exchanges next July).
Anyway, expect a super fat article on Starknet soon.
You faded Ethena? Maybe @theo_xyz is your redemption arc.
Ethena turned crypto leverage into a synthetic stablecoin: hold the asset, short the perp, scoop the funding. With >$4.5B in TVL and its native token sitting at an fdv of almost $2.8B, Ethena is obviously a DeFi giant.
Can Theo do the same?
Well, it's not impossible (it's also not financial advice).
Theo runs the same trade, but on real world assets. For example, it buys physical gold, leases it to refiners and fabricators who need this shiny metal in their workshops, and shorts CME gold futures so price moves cancel out (delta neutral). What's left are 3 income streams: the lease fee, the difference between futures and spot, and T-Bill interest on the margin. You read that right, none of it needs crypto funding rates to stay positive.
Theo's TVL accounts for $144M, its thUSD supply is $132.3M against $133.4M in reserves, meaning, it's overcollateralized at 100.83%. There are a few way to earn yield (and points!) on your thUSD and if staking is what you prefer (I prefer steaks), then know that sthUSD pays 5.1% right now. If you don't mind being locked in for some extra yield, you can toss your thUSD into the 6-month Core+ or Boost Vault and enjoy 7.2% APY and 11% APY, respectively. Plus points: the Core+ Vault comes with a 4x multiplier, whereas the Boost one with a 2x. If you hate lock-ups, you might as well just hold thUSD in your wallet and enjoy a 2x multiplier on your points (but no yield). If you want to participate, feel free to use my referral so we both win: app.theo.xyz/referrals?invit…
Alrighty, onto the next topic (the one I'm quoting): thSLVR. Yes, it's about silver. Each thSLVR is backed by one troy ounce (31.1g) of physical silver that Theo leases to industrial borrowers, and the lease fee gets paid back to stakers in silver.
Interesting facts about this shiny metal:
- it conducts electricity and heat better than any other metal, so it ends up in data centers, power grids, (nuclear) reactors and aircraft. That's actually bullish because these industries are very hot at the moment. More than half of silver demand comes from industry. For gold, it's under 7%. Central banks lend gold into the market but hold almost no silver, so when borrowers look for silver, lease costs start poppin'. A year ago, the one-month lease rate hit a record 34.9% against a regular sub-1%. In other words, borrowing 1kg of silver for a month suddenly cost about 29g of extra silver (yup, borrow silver, return silver + extra silver), when it usually costs less than 1g.
Fun fact: According to @RWA_xyz , barely $33M of silver lives on-chain today; Theo's thSLVR supply alone already represetns about $19M (roughly 9.6 tonnes), and the team says more than $40M in silver leases is already running.
No native token (yet), but the points program is live. You know how the Ethena story went.
Introducing thSLVR: yield-bearing silver, powered by silver financing.
A single solar farm uses up to 20 tonnes of silver in its panels, worth $40 million in today's prices.
Silver has the highest electrical and thermal conductivity out of any metal, making it critical in frontier applications like solar panels, nuclear reactors, data centers, and aerospace.
With Theo, companies who need silver can borrow instead of purchasing it.
This means lower capital costs, no price exposure, and reduced operational complexity, allowing businesses to focus on what matters.
Onchain investors can purchase thSLVR to gain exposure to yield-bearing silver.
Learn more: theo.xyz/articles/introducin…
GM 🤝
Up to 127M $STRK tokens will be unlocked tomorrow (based on the unlock schedule I found in the docs). That amount makes up ~1.7% of the circulating supply and is valued at ~$10M at the token's current price. And by the way, cumulative trading volume across CEXs and DEXs where STRK is listed is $3B in the last 30 days, so $10M is about a tenth of an average day's volume.
What to think of this? I have no clue, to be honest. Past unlock days haven't moved the price in a constant direction. For example, last November, STRK actually went up ~20%+ on the eve of the 127M unlock. And a month later, when another 127M tokens were unlocked, the price "dipped" about ~2%. Speaking of unlocks, which occur on a monthly basis, the last one is scheduled for March next year.
Now, the token is down 12% in the last 24h, but it's up 177% in the last 30 days. This could mean nothing, but it could also mean a ton of different things. Anyway, I'm not one of the folks who trade unlocks, I'm in here for the tech.
Haters gonna hate, but I actually love what the @Starknet team is doing. That said, I see STRK as a long-term bet (because I suck at TA and trading perps).
If you've been maxxing your $ZEC stash, you might as well check into $STRK (or wait for me to post a fat article soon).
TL;DR: ZEC sits at a ~$21B fdv and runs on privacy alone. STRK is under $600M and offers privacy for any token (orange coin included), plus full DeFi, BTC staking via delegation to validators, and a possible quantum-resistant L1 by 2027 (founder @EliBenSasson floated this just a couple of days ago). Fyi, Starknet's proofs are already hash-based, and this backs up the L1 point with something that exists and isn't just a fancy idea. On a side note, ~20% of circulating STRK is staked. And when it comes to privacy (to draw another parallel with Zcash), Starknet's privacy is built to work with regulators (don't forgetti, the EU is set to push privacy coins off regulated exchanges next July).
Anyway, expect a super fat article on Starknet soon.
GM 🤝
There’s a lot of chatter around $NEAR, and it sort of forced me into doing some extensive research. So I hereby announce the NEARies, a series of short posts with @NEARProtocol in the spotlight.
People are calling for an ATH (some even go as far as $155 per token), and I'm here to crunch the numbers, crack dad jokes, and occasionally write something seemingly smart.
I'll start with a TL;DR because I can:
🟢 NEAR Intents routed ~$35B in total, up from $5B less than a year ago, and most of that growth happened while the token traded under $2.50.
🟢 over the last 30 days, Intents earned about $8M in fees, of which the protocol kept ~$2.6M (30-ish %). Fees are captured from trades roughly 595k unique users have facilitated.
🟢 those captured fees buy NEAR tokens on the open market, holding them out of circulation. The buybacks (we all love) currently offset ~19% of new issuance (far from deflationary, but the team's been working on it).
🟢 max inflation actually halved from 5% to 2.5% some time ago. A draft proposal would trim inflation from 2.5% to 1.6% over 24 months. If it passes, about 12M fewer NEAR tokens would be minted over 2 years. Quick maff: that's roughly what today's buybacks remove in the same period.
🟢 buybacks are sweet, and so are token burns. A 100% gas burn (up from 70%) has been approved, and it will ship with nearcore v2.14, which has been on testnet since mid-September and has no mainnet date yet (but it'll certainly happen before GTA VI).
🟢 confidential TVL ((money users keep inside Intent's private mode (different from DeFi TVL)) is about $169M, up ~4.6x in just 90 days. Cool fact: NEAR earns on private execution without being a privacy coin.
🟢 post-quantum keys are live on mainnet: accounts upgrade by rotating keys, with no need to move funds.
🟢 Bitwise's NRR (first US spot NEAR ETF) pulled >$75M in net inflows over its first 10 trading days, with 0 (zero) outflow days. Relative to market cap, that's actually the strongest early days inflow of any US crypto spot ETF.
Alrighty, that's just an intro. The question is, is NEAR a temporary trend or is it here to stay?
In my opinion, it's here to stay, and you'll understand why once you read the coming pieces in this NEARies. And btw, just because I believe it has legs, it doesn't mean I'm a financial advisor. Au contraire, the token is up 115% in the last 30 days and a healthy pullback (TA experts will notice there's a retest as well) is expected. What's your take?
GM 🤝
Citrini keeps making smart moves.
$PENDLE for the win.
Btw, that's a really good basket right there, loads of gems, rather conservative, but definitely a list of winning horses.
JUST IN: Citrini names $PENDLE a “second-order RWA trade” on Wall Street’s move onchain, citing its role as the interest rate market for tokenized assets
They're all good to an extent, and all serve the purpose.
The thing is, each and every one of these LLMs becomes better once @openservai is used to do the reasoning part. What SERV does is (aside from a ton of things I won't write about right now, but will very soon (article(s) incoming), it makes a cheaper and "weaker" LLM do the job as good as a way more expensive frontier model would. And it saves cost.
TL;DR: better reasoning = less hallucinations = better output and accuracy = lower costs.
Plus, ethereum:0x40e3d1a4b2c47d9aa61261f5606136ef73e28042 sits at a tiny market cap so there's good R:R to it. Obviously, this isn't financial advice.
Do you remember @deepseek_ai?
It held the benchmark title for the most powerful AI model on Earth in Jan 2025.
But it only lasted for 3 days.
After that, @ChatGPT reclaimed the title.
Right now, it's a different landscape.
GM 🤝
Some say we're in a bear market (I don't agree). If that's the(ir) case, then I suggest rotating monies into passive income streams.
Those looking for a token to flip, kept fading f(x).
Those looking for real DeFi, brilliant tech, and safe, juicy yield have been winning all this time.
$41M fdv, >$130M in TVL. Stablecoin (beautifully-pegged (never failed) at ~$90M. And a bunch of top-tier integrations. Not to mention other products f(x) is offering.
Special f(x) in DeFi.
43%+ APR on a stablecoin. Here's how:
Borrow USDC against fxSAVE on @Morpho: 4.13%
Deposit it into fxSAVE: 6.59%
Loop 10x: 28%+
Swap in PT-fxSAVE (via @pendle_fi): 43%+
Links below 👇
...and $1.25B in TVL and capturing ALL (legit) yield venues.
$PENDLE will pop.
I've been active in this space for 5+ years and I've never came across this "influencer of the year". Oddly enough "professor" crypto (must be a cabal gang name, maybe also responds to Lil Rug) got this award 3 times in a row.
I'm not even surprised normies still think crypto is a scam if people like this dude are glorified.
Warhol explained it perfectly.
Be @profcryptotalks
- Start a crypto YouTube channel 8 years ago
- Botted 1.5M followers & views under every video
- Charging $4,500 per video
- Promote obvious rugs and scams
- Expand to Instagram and X
- Same playbook: bot followers & views -> charge projects for ads
- Post 3 tweets in September
- Win "Top Crypto KOL" for the third year in a row
- Nobody knows who you are
What doesn't kill you...
cripples you.