
wearer of many hats @defillama_res
Canada
Joined July 2018
- Tweets1.6K
- Following705
- Followers298
- Likes6.3K
jormpt retweeted
The State of DeFi Report returns this December.
A year of onchain data and how 2026 shaped the market, read as one story by @DefiLlama.
Want to participate? Book a call to find out more:
calendly.com/research-defill…
jormpt retweeted
Late last year, most @Kalshi trades were bets on a single event, and the most common price was around 50¢. That's a coin flip, where the market thinks the odds are even.
The platform looks quite different now.
Trades priced under 10¢ went from ~1.5M in October 2025 to 64.2M in September. All Kalshi trades grew 21x over that stretch; long shots grew 43x and now account for 1/5 of trades.
Trades at 1¢ or less went from 0.5% of Kalshi trades in March to 4.3% in September. That's nearly 15 million bets that have about a 1% chance of paying out.
This market metamorphosis can be attributed to parlays, which Kalshi calls combos, getting cheaper, and the new 15-minute crypto markets that made up half of single trades last month.
Is Kalshi just a long-shot platform these days?
defillama.com/research/spotl…
i guess people are pulling watches from @JupiterExchange Gacha?
I used LlamaAI's new generative UI capabilities to create an odds slider for pulling various rarity tiers across Jupiter's six cacha pack categories:
defillama.com/ai/chat/shared…
jormpt retweeted
A lot of companies want to treat marketing and communications like an orchestra: precise meters, elaborate scores, and rigid adherence to the those black dots sitting on those five lines.
They find out really quickly that what they really want is a jazz ensemble: chord chart, flowing tempos, improvisation, and wide tolerances.
Most importantly: Openness to surprises.
When AI-driven decision making is driving everything toward the mean, creating the environment that inspires those surprises will matter greatly. Audiences will reward this.
How many times have you been commanded to plan a program down to the tweet, only to abandon it within the first three or four days? What would you have done with that time otherwise?
I'm inspired by Frank Zappa's answer to the question of whether he was a great guitarist:
"Well I'm specialized. What I do on the guitar has very little to do with what other people do on the guitar. Most of the other guitar solos that you hear performed on stage have been practiced over and over and over again, and they go out there and they play the same one every night, and it's just... spotless.
"My theory is this: I have a basic mechanical knowledge of operation of the instrument, and I got an imagination. And when the time comes up in the song to play a solo, it's me against the laws of nature. I don't know what I'm gonna play, I don't know what I'm gonna do. I know roughly how long I have to do it and it's a game where you have a piece of time and you get to decorate it. And depending on how intuitive the rhythm section is that's backing you up, you can do things that are literally impossible to imagine sitting here."
I'll take that over a Julliard-trained first-chair violinist any day.
jormpt retweeted
In the first half of 2026, @circle brought in $1.4B in revenue and kept $103M in net income, about 7 cents on the dollar.
Almost all of that revenue is interest. For every USDC in circulation, Circle holds a dollar in reserve, mostly in short-term US govt debt. Circle reports in a recent H1 2026 filing that those reserves earned them $1.32B.
Most of that interest goes back to its distribution partners. Of the $819M in distribution and transaction costs sent in H1 2026, $655.3M went to @coinbase alone. That's more than 6x what Circle kept as net income.
With this week's hotter-than-expected inflation data (September CPI: 3.7% vs. 3.6% expected, core 2.6% vs. 2.5%), what happens to Circle's model if and when interest rates change?
remember, these guys want to launch a stablecoin and don't want you to earn yield on your own.
the cycle will continue. you do not hate them enough.
🇺🇸 BREAKING: Bank of America has been fined $1.2 BILLION by the US government.
The bank failed to flag over $5 BILLION in suspicious transactions, the Treasury says.
The missed transactions were linked to suspected Chinese money laundering networks and illicit finance around the southern US border.
The Treasury called the bank’s money laundering and sanctions failures “egregious and continued.”
The penalty includes a $750 MILLION fine from the Office of the Comptroller of the Currency, per the FT.
"you only get one shot at TGE, and that sucks."
i'm not an Ethos user, nor do I know what WHUF is, but Serpin laid out one of the more honest post-TGE reflections to date.
one issue, though likely not the biggest (also noting @katexbt's scathing but truthful take), was choosing a market maker.
i won't pretend to know much about what it takes to properly TGE, but what I DO know is that @DefiLlama and @Forgd_ released the industry's best transparency tool in seeking out MMs.
this index currently lists 43 MMs and assigns them a grade and composite score weighted by the averages of all performance categories:
→ trading KPIs (reflecting depth and volume performance relative to their peers)
→ trust (measures the data-sharing relationship between Forgd; invitation acceptance, data drops, active engagements, reporting)
→ coverage & capabilities (breadth of exchange coverage and service offerings)
→ uptime (measures consistency and reliability of MM operations)
use it to compare MMs across metrics like depth, volume, and spread.
genuinely undervalued tool here.
jormpt retweeted
When people ask how to avoid hacks I usually recommend having 2 separate devices. One “daily driver” with 0 funds that never touches a blockchain and then a completely separate, dedicated computer used exclusively to also not touch blockchains. I don’t recommend using blockchains
still, RIP @dlnews
cointelegraph went from 12 million visits a month to 700k
coindesk reported theyre looking for a buyer.....
cointelegraph replied with an open letter to coindesks publisher
we are not for sale
two crypto news sites fighting over 700k readers while everyone gets their news from the x timeline
legacy media is dead
even in crypto
whoever wrote this one is probably dizzy and exhausted from the sheer amount of data available.
you think you might have seen it all just by glancing at @DefiLlama's yield section, but there is just soooo much more to be discovered.
Searching for yield while the market shakes, rattles, and rolls?
@DefiLlama's yield dash has plenty to choose from: almost 15K pools tracked across 499 protocols on 102 chains.
To make things easier, the dashboard has a couple of pre-configs to help filter based on needs:
anyone using @EthenaPay? curious how they stack up vs other neobanks.
5-10% cashback sounds pretty wild, but i'm not quite VIP material...
Known for USDe, a synthetic dollar backed by a delta-neutral basis trade, @ethena, the #10 DeFi protocol by TVL, is now taking that trade well beyond crypto.
Despite TVL falling ~66% over the year, Ethena's strategy kept paying, just not for Ethena: over the past 30D, the protocol generated $20.1M in fees and kept $16K of it.
Its answer is expansion: a self-custodial payments app called Ethena Pay, a basis trade on tokenized US stocks, and StablecoinX, a Nasdaq-listed company holding ~30% of ENA's supply.
Find out more about Ethena's expansion playbook:
defillama.com/research/spotl…
jormpt retweeted
Like I said last week, we're shipping faster than ever and building tools for users to track all of their investments on DefiLlama.
Crypto created a new standard in reporting and transparency, with some of the best tools for retail investors. We're now bringing that to TradFi.
We've massively expanded our equities dashboard.
Now featuring:
- Earnings call calendars for 2,786 companies
- Sector and industry market maps and rotation trackers
- Sector pages to track constituents and benchmarked performance
defillama.com/equities/secto…
i've never seriously considered a crypto card. once they became all the rage, the amount of new offerings grew so big so fast, all splitting hairs on which card does what, it didn't seem very +ev until time weeded out those that sucked.
this new card compare dash from @defillama really reduced enough headache that I might just pull the trigger on one.
any good picks out there?
Which crypto cards pay cashback? Which have no FX fees? Which are self-custodial?
Our new crypto card dashboard compares 30 cards side-by-side so you don’t have to.
defillama.com/crypto-cards
bangry closes with "tbh I don't even really know why I'm writing this, SNX is so irrelevant."
nail, meet hammer.
a great thread revisiting what was possibly one of the most absurd strategies for a DeFi OG to execute:
Replying to @synthetix
@synthetix is going to ZERO.
🧸🎯
I'm going to rant for a bit about why I think it's over for them.... (1/22)
oh dear that humidity.
have a Sling for me @rcel1559 🍹
Our Head of Research @rcel1559 packed a spacesuit for Singapore; nobody told him about the humidity.
Ryan and Yana will be at @token2049 on Oct 7-8 and want to meet you. Reply here or DM us to grab a chat and a Singapore Sling.
llamas on top
We've been quietly building a media arm within @DefiLlama.
Earlier this year, I set a goal of building distribution beyond our website and main X account. At first it felt like a distraction, but now we're finally seeing results.
Nearly 40K subscribers across our two newsletters, breaking down what our data shows. These have already changed how we launch new products. As we scale email acquisition, I expect this to turn into one of our biggest distribution channels.
We launched the @llama account, which users can tag to receive a response from LlamaAI. Llama is now tagged in hundreds of replies per month.
More recently, we launched the @FullyVested_Pod, a DeFi podcast hosted by me and @DeFiDave. Since launching over the summer, our videos have had over 60K cumulative views, with most of that in the past month.
Owning distribution means that we can get our data and products in the hands of more people, without being beholden to the algorithm.
"thanks for keeping an eye on things while we attend @token2049 and @kbwofficial!" - @defillama_res team
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