DR CRIP

it has become complete counter-consensus to be bullish onchain now, have never seen sentiment this bad & ive been here ~9 years crypto twitter has forgotten that it requires actual work on the builder side to make coins do well, so many traders complaining about lower ceilings on coins and not nearly enough people actually trying to build interesting protocols and/or to change that dynamic

know ive been tweeting about this a lot but really think papertrade could be a generational setup high leverage perps are crypto's most profitable product to date, demand for speculation is not going to go away ability to open/close synthetic 1000x positions w/ no market impact is a novel mechanism, paired w/ the house-trader relationship where trader losses fund the onchain LP, & all losses after a certain LP cap get paid out to traders staking the platform's native paper token - can see how this can maintain traction longterm, already at 50M+ paid out to $PAPER stakers in first week every other perp dex's revenue comes from a small take rate on the fees of volume, no perp dex has been able to monetize directly trader losses, of which it's been shown is a much larger number, in theory winners should be able to easily get paid out from house LP over time as high leverage has a difficult success rate, ideal state is that its closer to 50/50 winners/losers after a certain LP cap and even then its a much better model allowing traders to own the house what's more interesting tho is that the model should be able to be extensible to other games outside of just perpetual futures, the online gambling industry is massive, and none of the online casinos are +EV for users, every major online casino is -EV as thats how the house makes money by creating games that are slightly better probabilistically for the house and monetizing losses over time, with papertrade it should be possible to let people speculate on other similar games with the same model as losses going back directly to paper stakers instead of just to the house - so im curious to see what team is thinking of here if hyperliquid is the AWS of all of finance, then papertrade could be the AWS of all high leverage speculation money games on the internet, will be cool to see how the next several months play out, dont think people have gone deep enough on the possibilities with one of the first novel onchain experiments in awhile that also rewards its most active participants

i expect capital to become much more concentrated in a smaller group of crypto assets as the industry matures in previous cycles, you could buy almost any alt and benefit from the broader market moving up now we're seeing a clearer distinction between projects with actual product-market fit and those relying mostly on speculation i think understanding which businesses are generating real revenue, attracting users and executing consistently will matter a lot more than simply betting on the entire altcoin market

look at dis shit man LMAOOOOO

lock in fns