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What’s really killing this ecosystem is clearly the community’s loss of critical thinking.
It's not because you have a financial or emotional attachment to a project, that you should stop questioning it or criticism (in a constructive way) the decisions that are made.
This is both bad for the project, which gets no factual feedback, no useful comments, and no interesting analysis from its community, and so can never really take a step back to look at what's happening / what it's done.
And at the same time, it’s bad for the community itself, which will just get lost in disappointment, convince itself that the project is all bullish (without seeing that they’re actually being milked), and create false hopes.
Writing bull posts every day long to try to avoid reality and certain problems / questions that are legitimate, isn't going to pump your bag or actually improve the situation.
And this applies to all types of projects in the ecosystem.
Projects that qualify criticism/questioning of certain decisions as “fud” are the worst possible outcome.
Promether retweeted
The best thing for crypto would be these fucking retards being banished to the shadow realm.
FaZe Banks explains why Kimchi partnering with Bottega Veneta is a huge win for the industry
FaZe Banks: “He’s for sure gonna be able to leverage all this attention to go make $40,000,000. He's 22 years old”
Ansem: “Bro he got a partnership with Bottega Veneta. That’s lit”
FaZe Banks: “It is lit. I don't care if that's your cup of tea. I don't care if you want to wear Bottega but one thing is fact. We should all be able to come to the consensus, that is good for crypto”
“Crypto's biggest issue has been swagless, aura-less. Objectively this is good for us like legitimately could be good for Bitcoin”
Promether retweeted
It’s pretty funny how fast the sentiment and general opinion around someone in the ecosystem can flip on ct.
Two or three months ago, everyone was idolizing @izebel_eth, complimenting the way that he thinks, the way he expresses himself, and there was basically a favorable consensus around him.
Same thing with @ThinkingUSD basically.
Now it’s the complete opposite. The guys who make decisions, innovate, or have radical takes just get roasted on the second they’re wrong.
And if they end up being right / the consensus on their decision was generally good, the whole world would’ve worshipped them.
That’s also why the whole social trading idea won’t work long term. Most of these kols will never have the ability to stay consistent and keep talking about their trades when they make a mistake or take a bad call.
Nothing to do with it but imo, the people who idolize Jeff and the @HyperliquidX team to an extreme way today, will be the first ones to spit on them, the moment a hard decision has to be made or one that doesn’t go the way of the majority.
Anyway, stay chill and form your own opinion on people.
It’s pretty funny how fast the sentiment and general opinion around someone in the ecosystem can flip on ct.
Two or three months ago, everyone was idolizing @izebel_eth, complimenting the way that he thinks, the way he expresses himself, and there was basically a favorable consensus around him.
Same thing with @ThinkingUSD basically.
Now it’s the complete opposite. The guys who make decisions, innovate, or have radical takes just get roasted on the second they’re wrong.
And if they end up being right / the consensus on their decision was generally good, the whole world would’ve worshipped them.
That’s also why the whole social trading idea won’t work long term. Most of these kols will never have the ability to stay consistent and keep talking about their trades when they make a mistake or take a bad call.
Nothing to do with it but imo, the people who idolize Jeff and the @HyperliquidX team to an extreme way today, will be the first ones to spit on them, the moment a hard decision has to be made or one that doesn’t go the way of the majority.
Anyway, stay chill and form your own opinion on people.
Promether retweeted
Not a lot of people talking about the playbook Unit Labs has set up.
-> What do people need when interest in crypto picks back up?
Bridge their funds to come trade on a perp dex -> @unitxyz TVL climbs (the effect is even stronger with portfolio margin btw)
-> What happens if interest of crypto drops off?
Traders move to stocks for more volatility -> @tradexyz volumes go up.
Basically no matter the market phase, these guys are always winning.
Whether you like it or not, any competitor or builder has managed to create this kind of flywheel.
And all of it benefits to Hyperliquid
🟣TradeXYZ losing momentum?
After a record of nearly $37 billion in weekly volume in early August, volumes on TradeXYZ’s markets fell back to around $13 billion in September. Should this be seen as a genuine loss of interest in the protocol?
In our view, this drop in activity is mainly the result of a deliberate choice made since launch, namely to let volumes grow organically.
@tradexyz has never launched public incentives to attract traders. Without any farming period, virtually no one comes to trade on its HIP-3 markets solely in the hope of one day receiving a reward.
Volumes therefore directly reflect what users want to trade, and how the market behaves.
And since its user base is largely crypto-native, its behavior follows a fairly simple logic:
◻️ When expected volatility is higher in crypto than in TradFi, traders stay on their usual assets and neglect the HIP-3 markets.
◻️ When the opposite is true, and TradFi promises more future volatility, they come to trade on TradeXYZ’s markets.
This is exactly what our infographic has shown since the beginning of the year.
At the end of January, bitcoin:native drops from nearly $97,000 to $65,000, then settles into a range with no real prospect of an upside in the short term.
Traders then go looking for volatility elsewhere, in narratives that have nothing to do with crypto, starting with AI-related stocks, whose performance captured the market’s full attention.
As a result, TradeXYZ’s volumes go from barely $1 billion per week to more than $15 billion.
The same scenario repeats itself in early June. bitcoin:native falls back toward $60,000 and remains stuck there all summer, even hitting its yearly low around $58,000 at the end of June.
While crypto struggles to find a catalyst, the protocol’s volumes climb without interruption up to their early August record (11 consecutive weeks above $20 billion in volume).
In mid-August, the trend reverses. bitcoin:native climbs back above $75,000 and then pushes toward $87,000 at the end of September.
Crypto once again becomes the most volatile arena, and TradeXYZ’s volumes promptly fall back to around $13 billion.
Even though TradeXYZ maintains a volume base well above that of the start of the year, proof that some users stay for the quality of the product, the 24/7 accessibility and the liquidity depth of its markets, traders above all go where future volatility is greatest.
The challenge for TradeXYZ is therefore to remain competitive against protocols that use incentives to boost their adoption and their metrics.
One of its best assets is precisely to offer the best markets, at the right time, by anticipating where volatility will be in the months ahead.
Not a lot of people talking about the playbook Unit Labs has set up.
-> What do people need when interest in crypto picks back up?
Bridge their funds to come trade on a perp dex -> @unitxyz TVL climbs (the effect is even stronger with portfolio margin btw)
-> What happens if interest of crypto drops off?
Traders move to stocks for more volatility -> @tradexyz volumes go up.
Basically no matter the market phase, these guys are always winning.
Whether you like it or not, any competitor or builder has managed to create this kind of flywheel.
And all of it benefits to Hyperliquid
🟣TradeXYZ losing momentum?
After a record of nearly $37 billion in weekly volume in early August, volumes on TradeXYZ’s markets fell back to around $13 billion in September. Should this be seen as a genuine loss of interest in the protocol?
In our view, this drop in activity is mainly the result of a deliberate choice made since launch, namely to let volumes grow organically.
@tradexyz has never launched public incentives to attract traders. Without any farming period, virtually no one comes to trade on its HIP-3 markets solely in the hope of one day receiving a reward.
Volumes therefore directly reflect what users want to trade, and how the market behaves.
And since its user base is largely crypto-native, its behavior follows a fairly simple logic:
◻️ When expected volatility is higher in crypto than in TradFi, traders stay on their usual assets and neglect the HIP-3 markets.
◻️ When the opposite is true, and TradFi promises more future volatility, they come to trade on TradeXYZ’s markets.
This is exactly what our infographic has shown since the beginning of the year.
At the end of January, bitcoin:native drops from nearly $97,000 to $65,000, then settles into a range with no real prospect of an upside in the short term.
Traders then go looking for volatility elsewhere, in narratives that have nothing to do with crypto, starting with AI-related stocks, whose performance captured the market’s full attention.
As a result, TradeXYZ’s volumes go from barely $1 billion per week to more than $15 billion.
The same scenario repeats itself in early June. bitcoin:native falls back toward $60,000 and remains stuck there all summer, even hitting its yearly low around $58,000 at the end of June.
While crypto struggles to find a catalyst, the protocol’s volumes climb without interruption up to their early August record (11 consecutive weeks above $20 billion in volume).
In mid-August, the trend reverses. bitcoin:native climbs back above $75,000 and then pushes toward $87,000 at the end of September.
Crypto once again becomes the most volatile arena, and TradeXYZ’s volumes promptly fall back to around $13 billion.
Even though TradeXYZ maintains a volume base well above that of the start of the year, proof that some users stay for the quality of the product, the 24/7 accessibility and the liquidity depth of its markets, traders above all go where future volatility is greatest.
The challenge for TradeXYZ is therefore to remain competitive against protocols that use incentives to boost their adoption and their metrics.
One of its best assets is precisely to offer the best markets, at the right time, by anticipating where volatility will be in the months ahead.
No matter what happens in the next few weeks, what’s going on right now is actually pretty interesting.
I really feel like not pretending to be someone that you’re not is the best move here.
This is the perfect time to put the ego aside and just learn from the situation.
Keep your spot convictions.
Keep some cash.
Observation. Learning. Patience.
if you’re wondering whether it’s still worth playing $PAPER:
just know that 856 wallets hold over 89% of the supply and on their own have grabbed more than 36M of the 42M staking rewards.
i think this can discourage a lot of people from continuing to trade on papertrade just to farm $PAPER and cover their losses with the staking rewards.
that said, imo there’s still some opportunity if you’re smart enough to set up a profitable strategy
@papertrade_xyz is more of a patience game than it looks
🟣 7.3 billion $PAPER have been issued by Papertrade. But how is the supply currently distributed?
Launched 4 days ago on HyperEVM, @papertrade_xyz has recorded more than $1T in volume, with open interest peaking at 10.1B.
On Papertrade, $PAPER can only be obtained by losing a trade or by getting liquidated. Traders currently show a net loss of $46M, and 7.30 billion $PAPER have been minted.
For now, the token’s only utility lies in staking, which allows holders to receive a share of the fees generated by the protocol. To date, more than $38M has already been paid out to stakers.
We therefore wondered how this supply was distributed:
◻️ Nearly half of the wallets (49.7%) hold fewer than 10,000 PAPER, and the 1,000 – 10,000 bracket alone accounts for more than a third of holders (35.1%).
◻️ 856 wallets exceed one million PAPER. At the maximum emission rate of 100 PAPER per dollar lost, that represents at least $10,000 in losses each (not counting staking rewards, which, for the most part, allowed them to cover their losses).
◻️ The largest wallet holds around 252M PAPER, or 3.5% of the current total supply.
◻️ 99.2% of the supply is staked, a figure to be put into perspective since transfers are still disabled and staking is currently the token’s only utility.
It remains to be seen how this distribution will evolve when transfers open, and above all how the platform will continue to generate enough fees to guarantee staking rewards attractive enough to cover traders’ potential losses.
⚠️The metrics that we used are those from 14/10 at 17:30. Please note that these metrics are likely to change significantly over the coming days.
Don’t forget that crypto is just a crash test.
Everything is about experimentation at the core.
Tbh nothing that we do is real. It’s just a parallel world where 99% of the world doesn’t care about at all.
Crypto is still young guys, relax. We’re still at the natural selection and early evolution stage.
Failures, attempts, and innovations stack on top of each other, until we eventually get to a final version that gets accepted by a common base of people.
@papertrade_xyz is part of that evolution.
So maybe it’ll fail, maybe the concept won’t survive, etc. Nobody knows.
But this attempt, one way or another, will move things forward. The next builders will use the results of this experiment to build something new, patching the flaws of this one.
And that goes on until we reach the final version, the most efficient one possible.
And that’s so exciting ngl
papertrade pre-deposits are live!
papertrade.xyz
in order to avoid the launch trading congestion, deposit during the next two days to secure your spot at the starting line. once trading begins, account creation/deposits will be heavily deprioritized.
no need to rush - there is no advantage to depositing earlier during this period.
when on 10.10 will papertrade go live?
live trading will begin approximately one hour after the expected hyperevm network upgrade on 10.10. the exact upgrade time is not known beforehand. the official hyperliquid discord will post an update when the upgrade is about to begin, so keep an eye there for an early heads up. there is a small historical possibility that the upgrade will happen on the AM of the 11th.
This is one of the reasons why Hyperliquid probably doesn’t want to make a decision on the rest of its supply.
How do you even do it when the people waiting for you to do another airdrop will be the first to fud you when whatever you decide isn’t as big as the hope they gave themselves?
Bro if you’re not happy and you don’t believe in your thesis anymore, dump your hyperliquid:native, stop using the protocol, and become a VAR maxi or whatever other project idk.
But there’s no reason to post takes like this just because you’re disappointed tbh.
Ngl it’s just starting to get ridiculous for some
Promether retweeted
🔗 OAK Research x @re
We are pleased to announce our latest partner Re, an onchain reinsurance protocol that allows stablecoin capital to serve as collateral for real reinsurance contracts.
With nearly $717 million dollars in TVL, Re has established itself today as the main gateway to the $700B reinsurance market, long reserved for institutional investors.
Our goal will be to clarify the relationship between reinsurance, onchain yield, and the risk associated with this business. Besides, we want to explain how Re actually works and what the protocol does beyond offering an interesting yield opportunity to loopers.
This is a new top-tier partner joining OAK Research this month. It’s incredible to be able to work with protocols of this quality and scale. We would like to thank them for the trust they place in us.
Job’s not finished. Just follow @OAK_Res.
Promether retweeted
What’s the strategy around listings on @variational_io?
Today ~95 TradFi pairs have less than $1M volume in 24h.
With RFQ model and their execution, that makes them not really usable ngl
Ok it’s cool to list as many pairs as possible and become number one on that, but what’s the point if the infra costs and market maintenance on theses markets are higher than the returns that they bring?
Sure they raised, but does that make it a sustainable model long term? I don’t think so
Btw they should capitalize as much as possible on their moat, meaning ship more SWAP pairs, which is clearly one of the best products right now to trade and offers a really good user experience compared to the rest.
I think they need to level up on the product that already proved itself and why not keep gaining market share with it.
Also they should list pairs that people actually want to trade or ones that are gonna see volatility soon
Promether retweeted
"bro wat is derive v3?"
An explanation of @DeriveXYZ v3, in (very) simple terms. 🧵
What’s the strategy around listings on @variational_io?
Today ~95 TradFi pairs have less than $1M volume in 24h.
With RFQ model and their execution, that makes them not really usable ngl
Ok it’s cool to list as many pairs as possible and become number one on that, but what’s the point if the infra costs and market maintenance on theses markets are higher than the returns that they bring?
Sure they raised, but does that make it a sustainable model long term? I don’t think so
Btw they should capitalize as much as possible on their moat, meaning ship more SWAP pairs, which is clearly one of the best products right now to trade and offers a really good user experience compared to the rest.
I think they need to level up on the product that already proved itself and why not keep gaining market share with it.
Also they should list pairs that people actually want to trade or ones that are gonna see volatility soon
The only criticism you could make of this proposal: if the endgame of the buyback tokens isn’t a burn, does it actually benefit token holders?
Honestly, not as much as if they were burned directly. Simply because the buy pressure the buyback creates will be limited by stakers selling, who, to get paid, will probably sell a good part of their tokens.
Where the proposal is actually interesting imo is the flywheel it creates. Paying staker rewards lets you stop a significant part of token emissions and therefore strongly limit ethereum:0xb1d1eae60eea9525032a6dcb4c1ce336a1de71be inflation, which benefits holders and the token’s long-term health.
Here’s a two-step proposal that would be relevant for the protocol and holders, and would patch the hole in the current one:
1) Stop the 50k ethereum:0xb1d1eae60eea9525032a6dcb4c1ce336a1de71be weekly emissions for incentives
Given where the protocol is today, there’s no real point anymore in running incentives to push traders to use the platform (you just have the best product and the #1 spot when it comes to onchain options).
Also imo it’s not a viable system long term + it potentially fakes organic growth.
2) Fund the 100,000 DRV staking rewards with the buyback and burn the surplus
Today emissions are 150,000 DRV/week: 100,000 for stakers, 50,000 for incentives. Step 1 already removes those 50,000. So only staking rewards are left to cover (which would be the case if the new DIP passes).
Let’s assume fees go up with the V3 release and onchain options get more attractive too.
If in a given week the buyback is 300,000 DRV, then you send 100,000 back to stakers (as the proposal plans) in order to fully stop new token emissions, and instead of sending the rest to the DAO treasury, you burn the surplus (so in this example, 200,000 DRV).
With this mechanism, holders actually benefit from the buyback, the protocol has less inflation on its token, and stakers still get rewarded the same way.
Btw DRV looks good here imo.
What’s your take on this @koolkrypto223?
Voting is now open on Snapshot for the proposal to increase the allocation of protocol revenue to DRV buybacks from 35% to 50%.
Review the proposal and cast your vote: snapshot.box/#/s:derivexyz.e…
How do you become the most complete trading terminal on the market?
Integrate @HyperliquidX builder codes.
Well done to @GodelTerminal for seeing the play.
Now you can get research, economic / geopolitical news, financial analysis on most existing stocks, and trade them directly. All on the same platform. And sure 24/7/365.
Idk if they saw it but it was an idea that I sent them in dm and seeing them execute on it is really cool (I’m trying to pump my bag lol).
Tbh there’s still some work left to do but the current product is actually really cool.
Bloomberg disruption mode activated.
Hyperliquid
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