Fluid is going to make alot of money on Hashi and you can get exposure on Aftermath aftermath.finance/perpetuals…

We started building @AftermathFi more than 4 years ago because the end state to us was obvious: markets should live onchain and it is inevitable that they will live onchain. Not “settled onchain”. Not “a proof arrives later” Not “well some of it is onchain” The actual market will live onchain. That means orders, machine, liquidations and custody. All of it. Four years later, our belief is stronger than ever. Aftermath has not had the easiest route to where we are today. We’ve had delays, rewrites and setbacks each of the four years we’ve been building. And yet, we kept building anyway. Many of our early supporters gave up on us long ago and yet we’ve done the one thing all the OG crypto heads tell you is most important: we’ve survived. Aftermath is still here and in reality we’re just getting started. Perhaps most notably is that we’ve done this without raising an infinite war chest of capital and selling our token supply indiscriminately. In 2022, we raised a $3.4M seed round and sold just 18% of the token supply. That was enough to build without manufacturing the appearance of PMF. A useful constraint it turns out. It also leaves us in an enviable position. Today, Aftermath Perps has: • zero paid external market makers • zero private points deals • zero token-for-volume agreements • zero off-book liquidity incentives There are no hidden multipliers and no preferred firms quietly farming a different game than everyone else. Everything you see (volume, OI, liquidity) is available to everyone. gfLP is not some disguised external market-making desk. It is an onchain, community-accessible liquidity vault. Anyone can participate and is subject tot he same rules, risks and rewards. We know running a serious and legitimate perp venue can be expensive. We’re fortunate enough to have support from the Sui Foundation and those incentives are passed directly back to users, not carved into private side agreements. Traders & LPs compete in public with all the incentives completely visible to the entire market. Everyone in crypto is always looking for +EV activity. Upwards of 30% of token supply is available to participants through the points program. You don’t even need to believe in our thesis. Provide liquidity. Bring taker flow. Grow healthy and organic open interest. Improve the market. If Aftermath wins, users will win and likely in an outsized way. Most readers will care more about that first section than what comes next, but coming back to our original belief that markets will move completely onchain, the distinction with Aftermath is architectural. Everything material on Aftermath Perps happens onchain. Orders, matching, positioning, liquidations, settlement. There is no Aftermath sequencer or nodes you need to trust. You don’t have to believe us to see what has actually occurred. You don’t have to use our API. That isn’t bypassing Aftermath it is our system working exactly how we intend the system to work. We’ve spent an ungodly amount of time making sure the protocol is legible to machines. The docs, SDKs, schemas and LLM-friendly tooling let integrators and agents understand the contracts and buildout completely without our influence. Truly open systems should be easy to inspect and extend, and this is the world we want to live in. Our v1 proved that a truly, fully onchain order-book perp venue could work. V2 made it substantially more efficient. Our v3 is coming in November and includes: cross margin, portfolio margin and support for collateral beyond USDC, all inside a unified account. Each version is moving us closer to the original vision. Despite what many think, Perp DEXs are not all the same. They all have: • different sequencing • different trust assumptions • different liquidity arrangements • different (warped) definitions of “onchain” Aftermath chose the difficult version deliberately. If that matters to you, come trade, build or LP. You can do so in your own self-interest.

Posts like this mistake the excesses of a new system for the purpose of the system itself. The early internet was also a casino. Capital flooded into companies with no revenue, no durable business model and, in many cases, no reason to exist. Most of them failed. People lost insane amounts of money. Did the government make everyone whole? Ofc not, the government helped fuel it. None of that meant the internet wasn’t revolutionary. The real revolution was the underlying capability: all of a sudden you could publish information and transmit it globally without asking a newspaper, broadcaster or telecom company for permission. Crypto extends that property from information to ownership and exchange. Today, the internet lets information move freely, but value still moves through a small collection of corporations, banks, and payment networks. They decide who may participate, what may be bought or stopped from buying, where money may be sent and when access may be revoked. We’ve confused the convenience of their interfaces with freedom. Real financial freedom is much simpler: the ability to own, buy, sell and send value to anyone, anywhere, without requiring an intermediary’s approval. No politics involved. So, much of what emerges from that freedom will be speculative. Some of it will be stupid. Some of it will go to zero. That’s what real open systems should look like before their real uses become obvious. Another thing freedom includes is the freedom to make bad or wrong decisions. A system isn’t permissionless only when people use it in ways we approve of. The important development isn’t that crypto eliminates risk or protects everyone from loss. It’s that, for the first time, global markets can exist as internet native products that are open by default, continuously available and accessible without a gatekeeper. The removal of the intermediary is the revolution, and that’s exactly what we’re doing at @AftermathFi. You don’t need to trust us, you don’t need to use our APIs, you can access however you want.

Sorry for being quiet recently. I have been head down in CTO mode in the last month - writing both code and whitepapers. I think I figured something out. Hope to share more broadly in the near future.

Aftermath has almost 30 markets live today. Now the next goal is to make @SuiNetwork fun!