Greng | prev Cumberland, Kronos, Presto All views are my own and not representative of anyone else
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Joined January 2021
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same analysis can be applied on $XTEN
Lighter’s revenue and $LIT buybacks will go absolute nuts with this next wave of integrations and products..
what makes me more bullish is how all these pieces connect.
first, Lighter doesn’t need everyone to trade on its own app:
- Robinhood allet already lets eligible users trade Lighter perps inside the wallet.
- Wallet in Telegram already offers Lighter-powered perps without users leaving Telegram.
- OpenMarket just added 208 Lighter markets, including crypto, stocks and other TradFi perps.
- TrueNorth AI and Circuit AI connect agent based trading to Lighter, while Folio brings another trading frontend.
- Renzo has launched tokenized equity basis yield strategies using Lighter, starting with SPY.
so wallets, trading terminals, agents and yield products can all bring activity to the same underlying exchange.
then there’s also what gives those users more reasons to trade:
- binary options are already live, with regular calls and puts targeted by year end.
- portfolio margin is targeted alongside them, allowing offsetting spot, perp and options positions to use collateral more efficiently.
- @ether_fi ’s weETH is already accepted as collateral, giving holders another way to put their assets to work.
- LighterEVM, built with Axiom, is live on devnet with mainnet targeted by year end, opening up more vaults and trading apps.
and there are more potential distribution channels ahead:
- more wallet and exchange integrations are planned; MetaMask, Coinbase and Interactive Brokers
- US trading and clearing applications are planned for November; approval could enable US broker integrations and deeper Robinhood distribution
- Bitwise and 21shares already offer LIT ETPs on Xetra, making the token itself accessible through brokerage accounts.
so the loop is simple..
other apps bring traders. more products give them more ways to trade. that activity can generate more fee revenue, which helps fund more $LIT buybacks.
there’s already evidence of this working.
Q3 update reported over $1.1m in fees attributable to Lighter from its Robinhood instance after the split. across Lighter, 2.45m LIT bought back during Q3 was subsequently burned.
IMO, that’s the core issue in crypto right now; over indexing on vesting schedules and analysts’ FUD about supply overhang. The overhang exists mostly because no one wants to hold their altcoin bags anymore. In peak DeFi summer, almost no one cared about unlocks when everything was uponly. Feels similar in this AI szn right now, though I suspect it still has room to run before markets re-calibrate skew from exponential growth back to fundamentals.
funny how its seemingly developing a symbiotic relationship now with RWA backed memes. The prophecy came true
made me remember that vitalik had the same pull back in the day.. :,)
Jeff speaking. Jeff speaking. Jeff speaking…
No doubt the Hyperliquid founder has the biggest AURA in this space.
Imagine. In that hall there was probably no one with a net worth under $1М. Every person there received the largest airdrop in history.
But their wealth means nothing when the creator speaks. They all listen. They analyze every word. They admire him.
They want to be like him – calm, confident, building with higher goals.
On October 5th Jeff takes the stage again. And it happens once more.
This time it won’t be silence. It’ll be loud as hell. Because Jeff is announcing S3.
Hyperliquid has already created 2,669 millionaires. That number multiplies after Airdrop 2.0.
Sometimes you just have to believe.
STRC is very similar to how the early days of algostables like ESD were designed and we all know how that ended when everyone was trying to dump ESD back to USDC.
Fatassmonkey retweeted
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Fatassmonkey retweeted
The ceasefire developments have compressed the CL calendar spread, but the structure remains viable.
The roll trade still breaks even at approximately -435% funding APR, and Boros currently allows a lock-in at -178%.
For a desk already short the perp and paying toward -435%, the value of locking in at -178% is straightforward.
This situation has validated perps as a legitimate venue for institutional basis trades, with a critical role in the wider financial system. Funding rate is that "new" variable that determines whether trades are profitable. Managing that exposure requires dedicated infrastructure, and that is what Boros is built to provide.
Fatassmonkey retweeted
btw this is the app that has generated $5000 in just 3 days, organically. it uses your Mac’s accelerometer sensor to moan when you slap it. we’re in the peak era of software.
