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Seth retweeted
A lot of noise about us not caring about retail. A few thoughts:
1. We definitely need to do more for the community. I’ve gotten good ideas on how to encourage more community-based activity and reward that.
2. We need to do a better job responding to voices on X and not wait for some of the good responses you’ve made.
3. We are exploring staking models.
4. We are focused on creating a long-term foundational activity that exists nowhere, and that just takes time.
Seth retweeted
Solana has already proven it can attract users and trading activity at scale, but I think there's still a sizeable gap between how much activity its DeFi apps process and how much revenue they actually capture
Looking at the latest 7D data, the top 5 DeFi and trading apps generated roughly $1.06M in combined protocol revenue, with the figure expanding to around $1.25M across all tracked Solana DeFi apps
During that same period, the ecosystem recorded approximately 1.3M aggregate daily active users and processed over 182M transactions
That's a lot of activity relative to what the applications are retaining
Ethereum's DeFi markets generally monetize larger positions and higher-value financial activity, while Solana has built much of its usage around cheaper execution, retail trading and high transaction frequency
And imo that creates an interesting opportunity for @solana's application layer
The distribution is already there, but improving how much revenue each unit of activity generates could become another source of growth without needing the user base to expand at the same pace
there are already a few ways that could develop:
➥ dynamic fee structures that capture more value from higher-demand liquidity
➥ better execution and routing monetization across trading applications
➥ more lending, leverage and structured financial products that generate recurring fees from existing users
The economics become much more interesting when you consider how small improvements in revenue capture can compound across millions of transactions
Of course, raising fees too aggressively could push activity elsewhere, esp in an ecosystem where low execution costs are a major part of the appeal
But imo Solana's next opportunity is as much about monetizing the financial activity already happening across its applications as it is about attracting more users
The ecosystem has spent years scaling distribution and throughput. there's still plenty of room for the applications sitting on top to capture more economic value from that growth
h/t: @artemis for data
Seth retweeted
Every ambitious person needs to watch this clip twice
.@TomBrady on how to be great:
"If you wanna be great at something, you've gotta commit your life to it. Certainly in a competitive environment like a sport. Because you could be better than 80% of the people, but that doesn't mean you'll be a champion. If you want to be a champion, you better be better than 99% of the people, which requires another level of work. You could have a nice, long career and be successful, and everyone go, oh yeah, he was a nice player, working at 80%, but the level to get to the 99% and be better than them, well, that's another level of physical, mental, emotional growth.
Where do I need to be every day? How can I be better, like I said, in whatever area? For me, physically, I was behind. I was really good mentally. I knew the plays. I was a savant when it came to the playbook. You put the playbook in front of me, I looked at it. I saw the play, I saw the adjustments. Okay, flip the page. Okay, I say, yep, I got that. And it was just, in my mind, like I can remember plays. You call a play, I visualize it, I see everyone running. Tell me the coverage, I tell you all the holes.
That was the easy part for me. Like some guys can run really easily. And then the emotional part of bringing the competitiveness and the fire every day. That was easy for me."
Video Credit: @dc_mma
Citi: tokenization has moved beyond pilot programs into core financial infrastructure.
Yesterday Citi in their report, backed their former thesis on tokenized assets
with a projection of $5.5 trillion by 2030, and a bull case of $8.2 trillion. Trillions in institutional involvement needs legal structure, and the base case is that we would receive and see better regulations in US and crypto outside what SEC and CFTC covers today.
Seth retweeted
i talk to a lot of tradfi hfs and investment firms and when the convo of buybacks comes up it is hilariously different than ct. they hate that we use 100% of revs for buybacks. they say buybacks are what you do when you have run out of better ideas for growth and increasing revenue durability. most growth companies dont do buybacks, let alone aggressive buybacks. fwiw tesla has never done a buyback
obv crypto is different bc a token doesnt currently give token holders rights (hopefully this changes) so buybacks are an alignment/trust thing, but i just find it funny that the thing ct treats as the most bullish thing a project can do is the thing a tradfi growth investor reads as you are out of ideas and a bad use of company capital. honestly this also might just highlight how short term minded ct is vs tradfi, but i also get that we have had a lot of bad actors which has caused most of ct to be this way
Seth retweeted
Broadly 3 types of trades i think this market has converged to:
1) Narrative momentum trades. Usually a proxy for a broader metric, news or catalyst. You're trading the attention, not the project. Get in early, get out once you feel the news saturating to the least sophisticated actors.
2) Fundamentally mispriced projects that fit a hot meta. The market went risk-off and dumped everything, so good projects got thrown out with the rest. Risk comes back on, these reprice first. They can keep going until risk is on.
3) Good fundamentals, bad (or no) token accrual but everyone is looking for a tone shift. The business works, the token just doesn't capture it yet. Any hint will be a trigger in any market conditions. Best setups are where the numbers are too good to ignore.
—
They often roll into each other. A 2 that reprices usually becomes the sector's narrative play. Once that happens betas reprice as risk slides down.
1s are usually quick and tight, 2s and 3s you can sit in trading attention and flows.
Know why you're in. Most bad trades are a 1 that someone convinced themselves was a 3.
If you can't say which bucket a trade is in, you probably shouldn't be in it.
Seth retweeted
In under a year, @HastraFi has issued over $652M of assets onchain.
One of their many highlights include the recent fixed-rate markets on Kamino where 84% of the AUTO deposited is now backing fixed-rate borrows.
This is how their universe has expanded since April 👇
Now tracking: @HastraFi
Hastra has over $652M of PRIME and AUTO issued across Ethereum and Solana, and 69% of it now sits on Ethereum, almost all of it PRIME.
You can now find their issuance, leveraged positions and more on RWA-Markets.xyz
Seth retweeted
Now tracking: @HastraFi
Hastra has over $652M of PRIME and AUTO issued across Ethereum and Solana, and 69% of it now sits on Ethereum, almost all of it PRIME.
You can now find their issuance, leveraged positions and more on RWA-Markets.xyz
Seth retweeted
Blockchain section for companies such as @ethereum, @solana, @avax, @BNBCHAIN, @arbitrum, @StellarOrg & @plumenetwork.
Seth retweeted
Though this was really expected, but abstract winding down made me realise something;
Web3 is the only space where a project makes more expenses than revenue, and no usage for a
long period of time and people keep hoping. Abstract should have wind down months ago if the case was a web2 firm/project.
Right now only 11 chains are making an average above $1million monthly this year, among the rest, a few still have relevance and maybe might run it up but a huge chunk are technically in the dust.
Revenue is now shifting from Blockchains to apps (29% vs 70%) which is healthy for the entire industry. I expect more dead Blockchain to wind down this year, and a very selected few (e.g MNT) to find, get hold of their target audience and run things up.
Seth retweeted
First Day Token2049
> 90% of the conversations are RWA, Tokenized Stocks, Structured Products (i.e. the institutionalization of crypto)
> 10% in AI, the financialization of compute and every single asset, bringing them onchain
> Surprisingly (or not) VCs, liquid funds, traders are talking about Grass and how bullish they are
> Venice, Near, Pumpfun, Orbio get mentioned quite a bit as well
> Most aren't aware of the Onchain/DeAI wave that's happening + most don't understand the value prop of onchain/decentralized inference, x402, and the budding ecosystem of tokenized inference credit markets
> Seeing many teams working as frontends for Hyperliquid, Ondo, Polymarket, and other venues
> These are trading platform, AI agent trading strategy platform, and DeFi protocols building structured products on top of infra that enables users to do more with their capital (e.g. AI strats that long 10 crypto assets & short 10 tokenized stocks, yield-bearing token that earns yields from a combination of tokenized assets and prediction market strategies)
> More people are coming onchain because onboarding is getting better + tokenized assets offer far more value vs traditional brokers (i.e. 24/7 trading, collateralized your asset, earn more yields through lending, basis trading strats, etc)
Overall, the crowd has gone down by 50%+, less builders around, more traders, investors, KOLs, and institutions
The vibe feels more institutionalized than the last. A lot less excitement from the retail crowd compared to the last.
Honestly don't know how to feel about this lol
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- Moss Matcha (One of the best Matcha Gelato)
- Bep Mai (Top-tier Bahn Mi)
- Great Nanyang Heritage Cafe (Great prawn noodles)
- Ketojjak Ice Creams (Low carb keto ice cream, black sesame so good)
- Story One Korean Cusine (9 amazing side dishes esp the yuzu bael/this is my personal fav)
- Habibi-san (Chewy Brussel Sprout)
- Mad Roaster at NTU Campus (Really good coffee)
If you had to choose a few, go for Story One for lunch + Habibi-san for dinner + Ketojjak for dessert
Llmk your fav spots
Though this was really expected, but abstract winding down made me realise something;
Web3 is the only space where a project makes more expenses than revenue, and no usage for a
long period of time and people keep hoping. Abstract should have wind down months ago if the case was a web2 firm/project.
Right now only 11 chains are making an average above $1million monthly this year, among the rest, a few still have relevance and maybe might run it up but a huge chunk are technically in the dust.
Revenue is now shifting from Blockchains to apps (29% vs 70%) which is healthy for the entire industry. I expect more dead Blockchain to wind down this year, and a very selected few (e.g MNT) to find, get hold of their target audience and run things up.
Seth retweeted
The TAM for tokenization is enormous and if we look at how much assets we’d have onchain if we hit some % penetration, you may start to appreciate the tech we have at our hand.
> At 0.1%, 1% & 5% penetration of equities - onchain assets would hit $77B, $768B and $3.84T
> At 0.1%, 1% & 5% penetration of treasuries - onchain assets would hit $31B, $309B and $1.54T
> At 0.1%, 1% & 5% penetration of MMFs - onchain assets would hit $7.9B, $79B, and $395B
What this means that all financial assets will come onchain and everyone around the world will have access to them!
Seth retweeted
NYSE announces tokenized stock trading platform. Wallstreet is going onchain. #tokenization #token2049
Seth retweeted
Top 7 tokenized assets by market value represents ~0.06% of global markets (respective)
Reaching just 5% penetration of global markets requires ~$33T of asset tokenization, ~80% of it in public equities and real estate.
If regulation and clarity continues further, institutional adoption can move trillions, but the largest bars, real estate and equities, depend on household, pension, brokers and market-infrastructure change.
Top 7 tokenized assets by market value represents ~0.06% of global markets (respective)
Reaching just 5% penetration of global markets requires ~$33T of asset tokenization, ~80% of it in public equities and real estate.
If regulation and clarity continues further, institutional adoption can move trillions, but the largest bars, real estate and equities, depend on household, pension, brokers and market-infrastructure change.
