MSc. Exercise Physiologist + Strength Coach. Gamify fitness, tokenize business, decentralize finance
Joined October 2021
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lowhash.hl retweeted
1/ Hyperliquid generated $716M in revenue over the last 12 months and is growing rapidly.
One protocol runs the largest liquid-staking token on the chain, runs a perp/spot exchange on top of it, and plans to launch Hyperliquid's first L2.
A thread on $KNTQ 🧵
lowhash.hl retweeted
Great analysis by @CamKhosravi on kinetiq:native here, very in line with my own price model
At $0.30, kinetiq:native is either a slightly overpriced LST/ $HYPE beta play or a massively underpriced $HYPE L2 ecosystem play with half a dozen lines of revenue.
Risking ~50% downside for 5x+ upside, can't really ask for a better asymmetric bet than that.
12/ So what's it worth?
Kinetiq already earns real money and spends it buying its own token, and potentially the largest source hasn’t launched yet.
If Elysium lands anywhere near Base, the race between the buyback and the unlock stops being close. Bullish Elysium and $KNTQ.
lowhash.hl retweeted
kntq is prioritized in every part of the stack:
> 100% kntq trading fees burned
> 70% rev
> lion’s share launch + markets rev
> struck deal with validators to funnel more value to kntq from delegated stake
> elysium + projs like ascend
most other teams with such a strong moat on stake would cash out upfront, stop innovating, and watch the chart suppressed eternally, like every ‘good project + bad tokenomics’ situation we’ve seen in defi. Only now are some of those projects becoming investable.
KNTQ traded down as low as ~4c. If you only used your cash to farm kntq for free tokens while neglecting to buy any at depressed valuations, there may be some skill issue involved
lowhash.hl retweeted
A little over 1 day into this, it’s vital to set the record straight:
The communication about this claim could’ve been way better and for that, I take full responsibility.
The allocation is now >41% claimed in a single day (fully unlocked, no vest), this tells us that even despite the thousands of pundits today, participants have been extremely receptive to the long term oriented mechanics of this program.
This was never publicly disclosed, as there’s been no point to it for over a year, but Kinetiq received a $20m term sheet at $250m ($0.25) last year prior to KNTQ genesis.
That sounds great on paper, until you realize that this would’ve essentially crushed the public economic value of the project, by creating ridiculously predatory vesting schedules that would’ve made Kinetiq (KNTQ) un-investable for years to come, which is the bane of the existence of essentially every other protocol in our singular category at the time.
This would’ve been an unacceptable outcome to us, hence swiftly declined. Proof? Ask @wassielawyer who was kind enough to personally review each term sheet.
Instead, we chose to follow through on the precedent Hyperliquid set by distributing 25% of the protocol after what was likely the shortest points program ever.
You may feel that your trust in Kinetiq and our team was misplaced, but we’ve followed through on everything we said we would, and will continue to do so - whether you’re here or not.
Regardless of how you felt about today, I (we) appreciate all of your commentary. The good, the bad, the ugly.
The mission remains unchanged, and the vision ever more clear.
The final kPoints have now been distributed.
Your kPoints now allow you to claim KNTQ.
kinetiq.xyz/kntq
lowhash.hl retweeted
Important to note:
> @Kinetiq_xyz raised <$2m, fractions of a fraction of competitors in staking, trading, and other general purpose ecosystems - with orders of magnitude greater results
> if we did this with barely any capital, not hard to imagine what we will do with a bit more capital
> my singular job is to make @Kinetiq_xyz // @Markets_xyz // @Enter_Elysium as huge as computationally possible
Those who can, do
Those who can’t, FUD
km
Today reminds me a lot of the response to Hyperliquid’s introduction of “L1 points” just before summer of ‘24. Hyperliquid was absolutely torched that day, by many of the biggest names in the industry. (Enjoy the comment section, a nice stroll down memory lane)
Having been a user since May of 2023 and seeing they had just announced HyperBFT + HyperEVM, I knew what this meant: Hyperliquid may have started as a perpetuals DEX, but was being setup to cater for something an order of magnitude greater; an entire ecosystem and beyond.
This may upset you, but @Kinetiq_xyz is no longer purely a liquid staking protocol. It is equally set up to cater for an exponentially greater outcome.
We are at the bleeding edge of exporting Hyperliquid’s greatest product via @Markets_xyz to a global userbase who may have never heard of a blockchain, and now at the precipice of ushering in a new era of Hyperliquid’s general purpose capabilities via @Enter_Elysium to users and builders who are about to see what happens when you build an extremely performant general purpose layer on top of the most liquid, utilized financial application onchain.
KNTQ is at the epicenter of every single Kinetiq product from staking, to Markets to Elysium, and always will be. This is further cemented by publicly ensuring any and all value that accrues from the entirety of Kinetiq’s product suite is directed solely to it.
Back to work
lowhash.hl retweeted
KNTQ is down 60% on news that instead of an inflationary airdrop diluting existing holders, airdrop recipients receive only an option to buy at $0.26 (a 7% discount to current prices).
How is this not bullish news? Added some KNTQ at these prices.
lowhash.hl retweeted
km
Today reminds me a lot of the response to Hyperliquid’s introduction of “L1 points” just before summer of ‘24. Hyperliquid was absolutely torched that day, by many of the biggest names in the industry. (Enjoy the comment section, a nice stroll down memory lane)
Having been a user since May of 2023 and seeing they had just announced HyperBFT + HyperEVM, I knew what this meant: Hyperliquid may have started as a perpetuals DEX, but was being setup to cater for something an order of magnitude greater; an entire ecosystem and beyond.
This may upset you, but @Kinetiq_xyz is no longer purely a liquid staking protocol. It is equally set up to cater for an exponentially greater outcome.
We are at the bleeding edge of exporting Hyperliquid’s greatest product via @Markets_xyz to a global userbase who may have never heard of a blockchain, and now at the precipice of ushering in a new era of Hyperliquid’s general purpose capabilities via @Enter_Elysium to users and builders who are about to see what happens when you build an extremely performant general purpose layer on top of the most liquid, utilized financial application onchain.
KNTQ is at the epicenter of every single Kinetiq product from staking, to Markets to Elysium, and always will be. This is further cemented by publicly ensuring any and all value that accrues from the entirety of Kinetiq’s product suite is directed solely to it.
Back to work
When Hyperliquid launched, the goal was to become the best perps DEX. Today, the vision has expanded to that of an entire financial ecosystem, starting with native spot trading and deployment through HIP-1 and HIP-2.
The L1 season of points starts today to reflect this growing ambition and welcome new use cases. 700,000 points will be distributed weekly for 4 months. The first snapshot will be for May 29-June 4.
Points criteria will be updated on a recurring basis. Distributions will be based on weekly activity ending Wednesdays at 00:00 UTC and take place on Fridays. There will be 1:5 affiliate points matching. Affiliates will need to reapply.
2,000,000 points per week will be distributed for activity from May 1-28. This bonus multiplier is to reward organic usage.
lowhash.hl retweeted
koolkrypto explains his $KNTQ bull thesis
“The HyperEVM, with its big blocks/small blocks infrastructure is just slow and the team doesn’t pay that much attention to it. This is why it will take Hyperliquid a long time to do onchain options. They are a small team of 12 people, probably the best team in the world but they don’t have the bandwidth to go build something else right now”
“Kinetiq is stepping in to build a more performant L2. It will probably be the first time an L2 is actually going to be useful to the main chain. It will burn hype as gas and it will burn a bunch of $KNTQ with it”
“Also their founder, Omni, is probably one of the best founders in the space. Just because he really understands vibes and users. If you want someone to go build you a perp dex, you want Jeff, if you want someone to build you a community, you want Omni”
lowhash.hl retweeted
Jamie Selway (SEC Director, Division of Trading & Markets) on @BloombergTV
"Tokenization & crypto have been politicized recently. But it's not naturally a politicized function . . . Success of the country in terms of developing these markets should have good bipartisan support."
lowhash.hl retweeted
Will not dive into details but 2 out of 2 builders on @Enter_Elysium will use big chunk of their revenue to buyback and burn $KNTQ
So I'm asking you again - are you sure you want to trade dogshit or it's better to buy potentially strongest project and log off?
lowhash.hl retweeted
“I don’t necessarily think kinetiq:native hitting $1 is more likely than it was before.
I just think that if there is a bullish move, it’s now $5.”
@koolkrypto223's Kinetiq bull case, explained.
(Also, listen for some @Markets_xyz alpha at the end 👀)
🎙️ New @Edge_Pod
🐂 Kool Krypto: The Story Behind The Anon DeFi Investor & Trader | What He's Betting On This Cycle
0:00 - Intro
2:25 - From mining BTC at 13 to fund manager
5:25 - Early to ETHLend and DeFi
7:38 - The poker game that led to a fund
10:26 - Is TradFi “in the arena” with DeFi?
14:17 - Early to onchain perps like GMX, HL
20:13 - Liquid fund, yield gen, and a little VC
23:28 - Why Kool doesn’t trade memecoins
28:01 - The DRV bull thesis
41:14 - Kool’s winning BTC call spread
45:58 - Pros/cons of Derive’s RFQ trading
50:14 - AI agents, a tailwind for options
52:50 - His onchain options trading tools
56:29 - Pros/cons of options vs perps
1:02:37 - Managing risk and closing trades
1:05:35 - Why Opulent October makes sense
1:11:12 - His viral ETH call spread on Derive
1:17:38 - Bull thesis for KNTQ
1:25:07 - Derive V3’s ability to list new markets
1:28:31 - What if HL/Lighter launch options?
1:34:19 - Why Kool remains bullish on LIT
1:38:24 - Closing
🙏 Thanks to @koolkrypto223 for joining us!
lowhash.hl retweeted
Now lets compare @Kinetiq_xyz at $65mc generating $500k monthly in revenue with others:
Cardano — $8.0B valuation / ~$35K monthly revenue
Stellar — $6.2B valuation / ~$39K monthly revenue
Polkadot — $2.0B valuation / ~$0 monthly revenue
Algorand — $0.8B valuation / ~$500 monthly revenue
Filecoin — $0.7B valuation / ~$74K monthly revenue
Internet Computer — $1.5B valuation / ~$140K monthly revenue
Aptos — ~$1.5B valuation / ~$95K monthly revenue
lowhash.hl retweeted
There's been a ton of debate over @cademarket's ACE round recently. As someone who:
1) has written numerous times about how token-equity relationships in crypto are broken, and
2) holds a meaningful position in $PUMPCADE,
I believe I bring an interesting perspective to the debate over whether ACE is good for PUMPCADE and, more broadly, for token-equity relationships.
First off, and what is being greatly overlooked in my opinion, is how the PUMPCADE token came to be.
Last September, @PopPunkOnChain launched the PUMPCADE token for a PvP streaming game on @Pumpfun. The token was fair-launched, and Pop reserved no supply for himself, as it was just a fun side project.
This detail is critical. There was no intention of raising funds for Pumpcade, so a fair-launched token was sufficient.
Since then, Pumpcade has evolved into a short-term prediction markets project that is *completely* different from the original vision. And to execute on this new direction, Pop very clearly needed to raise funds to build out a team.
However, this created its own set of challenges as Pop did not reserve any portion of the supply. As a result, he couldn't raise funds by selling tokens. At that point, there were two options:
1) Abandon the token. While it would've been a shitty thing to do, it would've been perfectly legal and greatly accelerated Pumpcade's product and roadmap. After all, what the PUMPCADE token was originally launched as bears no real resemblance to what Pumpcade is today, aside from the name.
2) Forge a new path that somehow retains the PUMPCADE token. This path was undoubtedly harder than the alternative and would also delay product development, but would keep tokenholders happy.
Thankfully, Pop chose the second option, and the ACE fundraising mechanism was born out of it. It’s extremely important to understand that Pumpcade is offering ACE *because* the token matters. If Pop wanted to abandon the token, he would’ve taken the first option long ago.
Now, does ACE solve the token-equity relationship? No, I don't think so. But did ACE offer a workable solution that allowed Pumpcade to raise the necessary funds while not screwing over tokenholders? Absolutely.
It’s still TBD how value accrual will ultimately be split between the token and equity, but I’m extremely confident that there will be value accruing to the token.
Tokens contributed to the ACE round are allocated to the team. In other words, Pumpcade is effectively comfortable exchanging 10% of its equity for 25% of the token. Assuming they are not nefarious actors (and based on every interaction I’ve had, I’m 100% confident they aren’t), they would only be willing to do this if they believed the token itself was valuable.
As for what I'm going to do with my tokens, I'm still undecided. This is my own opinion, but I believe that the token will be the primary value accrual mechanism, and the equity is there in case of an acquisition. So, therefore, my mental calculus is that the amount of tokens you convert is based on your assigned probability on how likely an acquisition is. High probability = convert more, Low probability = convert less.
lowhash.hl retweeted
> Founder @PopPunkOnChain: I need these tokens for what I'm building. I'll trade 10% of my company for them.
CT: Tokens are useless
> @Pumpfun: here's $1M
> @jump_ : here's $5M
> @FoundationCap : we literally backed Netflix and Uber, here's more money
CT: All of these people are wrong. The founder doesn't understand his own project. The VCs who do this for a living got fooled. I however, from my bedroom with $400 in my portfolio, can see what they cannot.
This app is undefeated man
Anyways $PUMPCADE
