UnlovedThings

TRAC: Real-World AI Utility with the highest earnings of any AI cryptocurrency token/network. But what is it and who is using it? $TRAC powers OriginTrail’s Decentralized Knowledge Graph (DKG), delivering verifiable, AI ready data for AI companies, supply chains, and RWAs. Fixed 500M supply (non-inflationary, rewarding holders without dilution) Swiss Federal Railways (SBB) joined in 2021, using DKG for real-time parts tracking with 10+ partners, publishing 100K+ daily events for maintenance and safety. They run 3 nodes (one per chain) as key stakeholders, staking millions in TRAC, not casual users, but enterprises securing the network. Total staked TRAC? Over 88M across 75 nodes, with companies like SBB and Umanitek, and other large organizations involved in the staking and security in addition to the publishing. Check for yourself: staking.origintrail.io/ Over a billion knowledge assets have been published on the network, fueling verifiable AI and data ecosystems. Umanitek, is building the Guardian Agent, an AI tool powered by DKG to verify content authenticity and combat threats like deepfakes, fake news, toxic content, IP infringements, and child exploitation (e.g., CSAM via collaboration with ICMEC). It allows platforms to cross-check harmful material without sharing underlying data, preserving privacy and enabling a “digital immune system.” Umanitek recently created a 2 million Trac node on the network to secure the network and publish on it. Aylo (Pornhub’s parent) tapped Umanitek’s Guardian Agent for verified content. Publishing to the DKG will start very soon on sites like Pornhub, YouPorn, RedTube, Brazzers, Tube8, and more. Enterprise publishers also include BSI for standards and border trade, SCAN for US import audits, the EU for building logbooks, and aerospace for digital passports and they are all actively contributing to the network. Cumulative revenue over $15M Trac for nodes and delegated stakers of TRAC, mostly all from the last year: real yields vs. inflationary tokens like $FET, $RNDR, $TAO, $NEAR, $FIL with negative earnings. $TRAC: Enterprise-Driven Growth. DYOR!

Still like $Wix here but harvesting the 20% loss as the market will grasp onto the headline numbers and “poor buyback” (hindsight bias). This stock is likely in the doghouse for a few quarters.

$WIX is now trading at a 22% FCF yield on the post-tender share count; when you take out stock based comp, owner's yield is still a whopping 13%

$KSPI is selling off but it should arguably be a huge beneficiary of high oil prices since crude oil is over half of Kazakhstan's total exports. Higher oil means a wider current account surplus, a stronger tenge, and more government revenue, which should translate to cheaper imports, higher public wages, and stronger consumer spending, all of which flow directly through Kaspi's super app across payments, marketplace, and lending. I understand emerging markets are all selling off but I can't think of a stronger beneficiary of this situation. I have taken a position. What am I missing?

$TRAC Umanitek, co-founded by Origintrail, and a major publisher on Origintrail ($TRAC) was featured on CNN as a top contender in the AI safety race. How many other blockchain or cryptocurrency solutions have been highlighted on CNN... maybe 5? and $TRAC is ranked 150 per CMC... @CredibleCrypto

$TRAC: Why It's the Only AI Crypto with Positive Earnings (Revenue Minus Inflation) and Why Crypto Investors Should Care 1. First, I think it helps to look at how equity investors think about dilution in the stock market. It drives a lot of valuation there. Even if fundamentals haven't ruled crypto markets like they do equities, eventually a nascent market will need to get more efficient as institutions and sophisticated investors enter, or crypto will likely lose its momentum and be shunned by serious capital allocators. Naturally, I am hoping for the former. 2. On equity dilution: When a company does a secondary offering to issue more shares, it's potentially diluting current shareholders by shrinking each one's slice of the pie (claim on equity). But it doesn't always erode value. It depends. If the stock's share price is trading above its intrinsic value and the company uses that capital for projects with a high ROI, it can actually boost shareholder value. For mature companies, they might get the benefit of the doubt based on their track record so any dilution may not cause a harsh reaction. 3. For high growth, non profitable tech startups though? Investors are way more skeptical due to their limited history, higher debt, crappy credit ratings, no real moat or durability yet. Unproven management means any dilution gets is looked at much more skeptically compared to a mature company with a proven track record and trusted management. If such a company plans to issue 5% more shares, the stock might tank way more than 5% because folks lose faith in management's ability to protect shareholders. If they dilute once, they'll probably do it again. Dilution often evidences the inherent conflict between executives and owners that manifest so often. Consequently, dilution's is a huge red flag, regardless of revenue for these types of companies. All cryptocurrencies fall in this category of high-growth and limited history which means any dilution should be HEAVILY scrutinized. If there is any inflation, token holders should be demanding that any inflation is being issued in a very responsible and effective way (higher ROI that offsets any inflation). In my opinion, the crypto market has not developed this discounting mechanism yet. 4. Now, $TRAC? Not only does it have zero inflation now, it's coded to never have any. Imagine a stock with an ironclad legal block on ever diluting shares. Markets would go nuts, imputing a massive premium, maybe 2x or more the usual multiples. If you are skeptical of this claim, just look at US equities vs. emerging markets: US gets an huge premium from trust in property rights and capitalism. You pay up for safety; same here, you'd pay up for no dilution certainty. 5. $TRAC is the only AI crypto with actual earnings. While a couple others might edge it on pure revenue, they are issuing more tokens than revenue thereby creating losses for token holders. If a protocol is issuing more tokens than the fees it brings in, that's dilution outpacing revenue (negative earnings). Imagine a company issuing a 10% dividend but funding it by selling new shares—the stock would likely crater because markets look forward and such a maneuver indicates that the dividend is not-viable; it further illustrates management is unwisely allocating capital if earnings can't back the payout. 6. Right now, $TRAC's yield is around 10 to 15% depending on the node you delegate to. Like a dividend fully backed by real earnings. Growth's driven by stakeholders, nodes, holders, the community, and Trace Labs, spreading out risk without needing to plow earnings back in. With Umanitek launching and other partners launching imminently on the newly, scalable network, earnings could explode, causing staking yield to skyrocket. NFA. I have a position.

CADELER($CDLR) gets absolutely zero investor coverage. There were major insider buys in the last month with no mentions or news anywhere: BW Altor Pte. Ltd. (linked to Chairman Andreas Sohmen-Pao) purchased 1,442,210 ordinary shares directly on different European exchanges (not ADRs) for around 7 million USD on Sep 30, 2025. Plus, CEO Mikkel Gleerup acquired $19,345 of shares on Oct 16, 2025. While sentiment is in the dumps, the chairman and CEO likely have better visibility than outsiders. Additionally, the 7 million purchase was not likely an insider trying to signal as it was conducted covertly through an investment entity accumulating at the lowest possible price through multiple exchanges and multiple transactions. NFA. I own a position.

PayPal’s stablecoin PYUSD went from around 1.3 billion to 2.22 billion in the last week. 👀 $PYPL

$PYPL Doubled my position in PayPal this week and added some 2027 January LEAPS with a $100 strike for some strategic leverage. I had a clear bias against this stock and company as someone who never really used PayPal in the past (however I used and continue to use Venmo a lot) until I started digging into the ecosystem and understanding the products. I will be happy to keep buying more while the company continues to buyback shares at these prices.

PayPal added to my portfolio this week: After mulling over corporate incentives for these two companies, I decided to exit $DDI earlier this week and replace it with $PYPL. DDI’s parent, DoubleU Games, owns 67% of the company and prioritizes synergies that benefit them over minority shareholders, creating massive conflicts of interest. Net cash nearly equals market cap, FCF yield around 30% but zero buybacks or dividends. And any acquisitions with the cash are going to have synergies as a priority, not shareholder value. As Charlie Munger said, “Show me the incentive and I will show you the outcome.” $PYPL is the inverse situation: share-based comp for the executives are linked to accretive metrics like free cash flow and margins; aggressive buybacks below intrinsic value with $6B planned for 2025 alone, and focusing on profitable growth through transaction margin dollars.

$TRAC’s imminent breakout is going to be a spectacle to watch. $BIO is up 70% today with a 420 million market cap (840 million market cap diluted) whereas OriginTrail’ $TRAC token sits at approximately at 200 million fully diluted which is 25% of $BIO’s market cap. However, Bio protocol publishes and uses TRAC’s decentralized knowledge graph as a foundational layer for its Desci ecosystem. Bio just does desci whereas desci is one of a dozen different industries that $TRAC serves as the backbone infra layer for many industries with AI, RWA, and supply chain applications. TRAC is like the chainlink for RWA and Bio is akin to a defi app that uses chain link for oracles as infra. Would you have rather invested in $LINK or one of the 100 defi apps using link 5 years ago. What if I told you link was trading at 25% the market cap of one of those apps with a million competitors. That’s where we are with TRAC and we should anticipate where the puck is going here if we don’t want to be late as investors. $TRAC $BIO $LINK DYOR

$WIX Took a position today. Earnings were excellent last week including a huge non-gaap eps beat at $2.28, gaap profitable, and cheap at around 19 PE and 2026 15 PE. Full year free cash flow guidance is around 600 million giving it around a 9-10% free cash flow yield for 2025. Wix has integrated Wixel, an AI builder, and Base44’s vibe coding app is expected to have around 50 million of ARR this year. The full ecosystem of e-commerce, web templates, and SEO and now AI enhancement create a sticky ecosystem. Stock is going down with “AI will eat all software” sentiment but it’s gotten ridiculously cheap and isn’t priced at all for any AI benefits. What do you think? $WIX Not financial advice. DYOR.