napkin math investor & farmer / farmer tools @blmrce / Hyperliquid.
Joined February 2023
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Variational weekly points
Last weeks points, purely swaps cross farmed with QFEX US100 & US500. Hope vari team do not postpone $VAR TGE, I'm tired boss.
66 points
$2.5M+ volume
$320K OI
= 1 point per $38K volume
Was actually a really good week for collecting points as capital rolls out.
🔗 qfex.com/@blmrce
🔗 blumerce.xyz/points
Variational weekly points
Points dropped which was expected considering I've moved a chunk of cash off $VAR to my other core farms as this one comes closer to an end.
53 points
$2.7M+ volume
$390K OI
= 1 point per $51K volume
Net cost was flat, farmed swaps this week and smaller crypto pairs like XMR. Platform volumes were down week over week.
I've moved the cash into QFEX and RISEx as mentioned last week.
Min target is $40 per $VAR point.
Value your points blumerce.xyz/points
Clear flow change outliers from QFEX & Arcus in October
Farmer rotation ahead of $VAR TGE
Top Tokenless Perp DEXs
Variational remained on top for the second time in a row after taking the number one spot for the first time.
Although open-interest fell MoM for Vari whereas Trade[XYZ] climbed again. Possibly farmers rotating.
Arcus volumes increased 200%+. One that is under the radar on the timeline is QFEX, which is a core farm of mine post $VAR. Volumes up +58% MoM, while being a pure RWA platform, hidden points still ongoing.
Entropy's first month in the top 10, another HIP-3 deployer, definitely worth pushing vol though if you want HYPE airdrop exposure. Been farming HIP-3 since launch and have been trading volume through io markets lately too.
QFEX dashboard: blumerce.xyz/qfexscreener
Top Tokenless Perp DEXs
Variational remained on top for the second time in a row after taking the number one spot for the first time.
Although open-interest fell MoM for Vari whereas Trade[XYZ] climbed again. Possibly farmers rotating.
Arcus volumes increased 200%+. One that is under the radar on the timeline is QFEX, which is a core farm of mine post $VAR. Volumes up +58% MoM, while being a pure RWA platform, hidden points still ongoing.
Entropy's first month in the top 10, another HIP-3 deployer, definitely worth pushing vol though if you want HYPE airdrop exposure. Been farming HIP-3 since launch and have been trading volume through io markets lately too.
QFEX dashboard: blumerce.xyz/qfexscreener
Top Tokenless Perp Venues
Variational overtook TradeXYZ in monthly trading volume for the first time ever. Vari volumes doubled MoM. Farmer FOMO in full effect.
Volume rankings
1. Variational → $59.07B
2. TradeXYZ → $51.22B
3. StandX → $12.12B
4. Pacifica → $10.80B
5. Nado → $9.13B
Nado also had a great month, +45% MoM. QFEX is rather surprising with $6.13B volume considering it is pure equities/commodities exchange.
Important to note, vari gross fees look large but after OLP hedging costs and referral rewards, net profit is closer to $5M. Still higher than TradeXYZ, but $8B more volume to consider.
btw Im giving back max rev share on the blmrce QFEX link, which also gives u a 10% fee discount on top.
🔗 qfex.com/@blmrce
Risex weekly points
Points were harder to get this week, was expecting more.
543 points
$5.5M volume
= 1 point per $10.13K volume
Held 5 positions open for three days and two days actively churning volume every couple of hours. With two illiquid positions open the full week capturing double-digit carry.
6,725 accounts collected points this week vs 6,573 week prior.
Points boost: rise.trade/invite/blmrce
Risex stats: blumerce.xyz/risexscreener
Remember, point mechanic favours different variables each week, so u should aim for a balance.
Rise weekly points
Slammed flows through XRP this week due to additional 20% point boost. Balanced strategy as always when farming risex due to the weekly adjusting reward system.
516 points
$4.9M+ volume
= 1 point $9.4K volume
Noticing accounts receiving points is starting to climb again since vari airdrop is upon us.
Farming max points before the zero-fee era commences.
Max boost rise.trade/invite/blmrce
No spot $XTEN for EU users
$XTEN will not be available to buy on their own exchange until they become MiCA compliant or they have decentralization exemption.
Although the latter is vague.
$XTEN pre-market update
Post tokenomics announcement $XTEN fell -27% but has since recovered to around $0.25 or $250M FDV.
No concrete confirmation of treasury buyback commitment.
Perhaps they're waiting until MiCA license is sealed.
$XTEN pre-market
Hyperliquid pre-launch currently prices Extended at $0.28 which is a $280M FDV.
Making each point worth $1.20
Variational weekly points
Points dropped which was expected considering I've moved a chunk of cash off $VAR to my other core farms as this one comes closer to an end.
53 points
$2.7M+ volume
$390K OI
= 1 point per $51K volume
Net cost was flat, farmed swaps this week and smaller crypto pairs like XMR. Platform volumes were down week over week.
I've moved the cash into QFEX and RISEx as mentioned last week.
Min target is $40 per $VAR point.
Value your points blumerce.xyz/points
Variational weekly points
For the first time since I started farming Variational I've withdrawn some cash. It's been my main farm post $LIT.
72 points
$3.7M volume
$620K OI
= 1 point per $52K volume
I pushed some of the cash from Vari into QFEX and Risex as this farm comes closer to the end.
QFEX flows are genuinely impressive with it being a pure RWA venue today. Giving max fee rebates to all users on code blmrce as always.
qfex.com/@blmrce
rise.trade/invite/blmrce
Now that funds have been captured
Think it’s fair to say Hyperliquid to CEX open-interest market share will continue to climb and likely accelerate post Binance hack.
Long hyperliquid:native
When you get dozens of cold DMs from so called "bd" or "advisors" alarm bells already start ringing
If I like the platform I’m using it with zero introduction. In all honesty I never answer people shilling in the dms.
You really think I’m gonna place $100k + on these venues on the back of someone else’s due diligence.
I have no horse in this race but purely from the copy & pasta alone, I'm still comfy passing this.
TxFlow is Hyperliquid from Temu
They forked Hyperliquid's Arbitrum bridge and changed the name. They copied HyperUnit too and forgot to change the name: txrelay[.]com literally says "Unit is the asset tokenization layer on TxRelay". The frontend, the API and the fees are Hyperliquid's. Even the slogan. The L1 is closed source, with Hyperliquid's naming on everything: TxCore, Tx-BFT, TIPs
Hyperliquid is closed source too, but it has 27 validators that each post prices, and anyone can run a node to check them. TxFlow has 5 validators, all its own, nothing you can run, and one key that acts as the entire oracle. The same key sits on the bridge multisig
So it's a centralized exchange secured by a 3/4 multisig. Their own audit says those keys "can propose arbitrary withdrawals"
And the growth plan is KOLs shilling ref codes
You are not bullish enough hyperliquid:native
