Pinned Tweet
My chat with @josh_pwrk the CTO of @DeriveXYZ is live!
We talked about how Derive got here, the challenges the team faced along the way and what users can expect from V3.
Huge thanks to the Derive team for bringing me out to SF for this 👏
A closer look at our thinking behind V3.
Our CTO @josh_pwrk sat down with @Nomaticcap to talk through how we got here, why we chose Ethereum and ZK, and where we think onchain finance is headed.
We've spent five years building onchain options and learning from the traders who use them. Josh shares the lessons behind V3 and why we want to make it easier for others to build alongside us.
Watch the full conversation below.
Nomatic retweeted
Mathieu Baril narrates how Uniswap earned him $80k in 2 weeks:
"I love Uniswap LP, that's where I make a lot of my money. I was like, 'Okay, well, is there any stock on Uniswap right now?' It just launched, I think it was the first week, probably the first day."
"So we moved a lot of our capital into Uniswap and provided liquidity to Nvidia, Tesla, and S&P 500, all of the tokens that we could see some volume on. We were able to see volume from Realto, but nothing on Uniswap. So we opened on Uniswap pools at like 3%, 4%, 5% because we were the first ones."
"We knew it would not last for 4 or 6 months... we knew it was like 1 or 2 weeks. With about $300k capital moved there, we did something like $75k or $80k in like 2 weeks. It was kind of insane."
"The beauty of AMM and MEV bots is that people trading on Realto want to balance what's happening on the Uniswap pool, so they always arb everything. Because the price is moving, they pass through your pool and pay your 3–4% fee."
CoFounder of Octav Labs, Mathieu Baril, explains how tokenized stocks allows normal everyday users to copy the borrowing strategies of billionaires like Elon Musk, allowing all to leverage assets on-chain:
"We know that a lot of rich people like Elon Musk borrow against their assets, they borrow against their stock in Tesla. We were never able to do that as a retail person. Now with tokenized stock, you can actually do that."
"If you take that tokenization of stock, capital efficiency, plus now having real traditional market tooling like TradFi or options coming to DeFi and you merge that, you get the best of both worlds."
"Now you have the tools that TradFi can do, but you also can do it at small size or compound everything as DeFi composability gives you the ability to do. That's opening a lot of capital efficiency, and all the TradFi guys are like, 'Okay, we have the tooling, but now we have the infrastructure on-chain, so let's move on-chain.'"
My wife recently pointed out how condescendingly I speak to my LLM.
It's now fairly clear I will be one of the first to be enslaved.
Nomatic retweeted
CoFounder of Octav Labs, Mathieu Baril, explains how tokenized stocks allows normal everyday users to copy the borrowing strategies of billionaires like Elon Musk, allowing all to leverage assets on-chain:
"We know that a lot of rich people like Elon Musk borrow against their assets, they borrow against their stock in Tesla. We were never able to do that as a retail person. Now with tokenized stock, you can actually do that."
"If you take that tokenization of stock, capital efficiency, plus now having real traditional market tooling like TradFi or options coming to DeFi and you merge that, you get the best of both worlds."
"Now you have the tools that TradFi can do, but you also can do it at small size or compound everything as DeFi composability gives you the ability to do. That's opening a lot of capital efficiency, and all the TradFi guys are like, 'Okay, we have the tooling, but now we have the infrastructure on-chain, so let's move on-chain.'"
Nomatic retweeted
In the first few weeks of Robinhood Chain's launch, @mbaril010's team put $300K into Uniswap LPs for tokenized stocks charging 3-5% swap fees.
They earned ~$80k in two weeks, or ~700% APR.
Meet a true DeFi OG still in the trenches, testing DeFi in prod and earning onchain.
🎙️ New @Edge_Pod
💡 Octav Founder Shares His DeFi Playbook: Options, Uniswap LPs, and Tokenized Stocks
0:00 - Intro
2:11 - From BTC mining to DeFi Summer
6:34 - How Octav offers early signal
8:53 - What new DeFi is most exciting?
16:41 - Huge LP returns on RHC
20:57 - Robinhood using USDG
22:32 - Hedging Uniswap LPs with options
27:02 - Why he moved from Base to RHC
28:13 - HL, Kinetiq, and why Elysium
32:19 - Ideas for managing longs next year
40:23 - Are crypto FDV multiples out of line?
42:22 - Why ETH is a SoV, plus top 3 liquid bags
46:46 - Shopping list: VVV, DIME
48:36 - DIME/Paradex bull thesis
52:38 - What is @tacticallsXYZ?
57:06 - Tacticalls demo, FOMO for options
1:03:13 - Octav demo, tracking any wallet
1:11:00 - Closing
🙏 Thanks to @OctavFi Labs CoFounder and CEO @mbaril010 for joining us!
Nomatic retweeted
"I think the best way for me to sell a token is actually providing liquidity."
@mbaril010 explains how he uses a Uniswap LP to collect fees, and gradually sell into profits.
It's a strategy I like if you understand the risk of buying in a downtrend or selling in an uptrend.
🎙️ New @Edge_Pod
💡 Octav Founder Shares His DeFi Playbook: Options, Uniswap LPs, and Tokenized Stocks
0:00 - Intro
2:11 - From BTC mining to DeFi Summer
6:34 - How Octav offers early signal
8:53 - What new DeFi is most exciting?
16:41 - Huge LP returns on RHC
20:57 - Robinhood using USDG
22:32 - Hedging Uniswap LPs with options
27:02 - Why he moved from Base to RHC
28:13 - HL, Kinetiq, and why Elysium
32:19 - Ideas for managing longs next year
40:23 - Are crypto FDV multiples out of line?
42:22 - Why ETH is a SoV, plus top 3 liquid bags
46:46 - Shopping list: VVV, DIME
48:36 - DIME/Paradex bull thesis
52:38 - What is @tacticallsXYZ?
57:06 - Tacticalls demo, FOMO for options
1:03:13 - Octav demo, tracking any wallet
1:11:00 - Closing
🙏 Thanks to @OctavFi Labs CoFounder and CEO @mbaril010 for joining us!
Are you curious what DeFi wizards actually do onchain? Here's a good one to check out.
Also, a lot of the strategies here could be timely for @Enter_Elysium launch 👀
🎙️ New @Edge_Pod
💡 Octav Founder Shares His DeFi Playbook: Options, Uniswap LPs, and Tokenized Stocks
0:00 - Intro
2:11 - From BTC mining to DeFi Summer
6:34 - How Octav offers early signal
8:53 - What new DeFi is most exciting?
16:41 - Huge LP returns on RHC
20:57 - Robinhood using USDG
22:32 - Hedging Uniswap LPs with options
27:02 - Why he moved from Base to RHC
28:13 - HL, Kinetiq, and why Elysium
32:19 - Ideas for managing longs next year
40:23 - Are crypto FDV multiples out of line?
42:22 - Why ETH is a SoV, plus top 3 liquid bags
46:46 - Shopping list: VVV, DIME
48:36 - DIME/Paradex bull thesis
52:38 - What is @tacticallsXYZ?
57:06 - Tacticalls demo, FOMO for options
1:03:13 - Octav demo, tracking any wallet
1:11:00 - Closing
🙏 Thanks to @OctavFi Labs CoFounder and CEO @mbaril010 for joining us!
This ICO made me make my first Metamask wallet 😂
(And I'm glad it did!)
> be me
> create project in 2017, the "ethereum killer"
> raise $4.1B over a year, biggest ICO ever (no product)
> promise 1 million TPS (ends up only being a few thousand)
> promise $1B to fund the ecosystem (deployed zero)
> use the war chest to buy 164,000 BTC instead ($20.2k avg)
> also burn money on a social network nobody wanted (then shut it down)
> CTO quits to go build something else (again)
> SEC shows up: $24M fine (on $4.1B raised KEK)
> rebrands and pivots to "web3 banking" (still useless)
> price down 96% from ATHs
> spinoff exchange IPOs on the NYSE at $10b+ (what tokenholders?)
> now chilling on a beach somewhere, drinks in hand (ty for bagholding)
Nomatic retweeted
ZCash $ZEC has been one of the biggest W's in crypto over the last two years...
From a cycle low of $16.08 on July 5th, 2024...
It has done a 77x to today's price of $1,239.78...
And has massively outperformed $BTC and $ETH on every timeline imaginable during that span...
But what is the backstory on it?
And how much higher could it go???
- @Nomaticcap and @DeFi_Dad discuss this question with @zmanian and @sudo_ml
Nomatic retweeted
Quantum computing poses a serious threat to the cryptography blockchains currently rely on, while advances in AI compress best estimates for the threat's timeline.
That's why experts gathered in Cambridge to coordinate research upgrading our cryptography to be quantum-resistant.
Nomatic retweeted
Crypto + Macro Stuff I'm Looking At Today
...
- Binance hack (by DPRK) dominating headlines today
- Tech stonks down bigly and existential angst over layoffs, economy, AI, etc all over the TL
- Intel $INTC down 30% today
- $COIN beats earnings for first time in 4 quarters but still down 15%
- The SEO-apocalypse that has destroyed tens of thousands of once profitable websites and online businesses has finally reached the furthest heights of the online economy, with Reddit $RDDT down 42%, with co-founder and CEO Steve Huffman stating on their earnings call that "People still want Reddit. It is just Google is not sending them to Reddit the way they used to."
- Total crypto market cap down to $2.69T (38.9% below ATH's)
- $QQQ down to $685 (10% below recent ATH's)
- Oil at $103.90
- Silver falls below $50/oz for first time in almost a year
- Multifamily real estate (ie apartments) increasingly looking like its sliding into crisis territory
- MEV bots apparently killed it over the last 24 hours, with TitanBuilder making $24.7M (h/t 0xngmi)
- CZ and Elon battle on the TL
- Jupiter has launched a new bridge aggregator
- Tragic crypto home invasion in France where a clerical error made a man's 0.66 $BTC look like 660 $BTC on his taxes, criminals invade home, assault family as a result (whole thing is sickening beyond estimation - need to write about this topic soon)
- Despite all the carnage lots of defi teams still doing well... $AERO been stacking W's... $ENA looking good... etc...
- About start using/LP'ing/etc on MetricXYZ, first new opportunity I've really been excited about since pre 10/10 as far as airdrops go
- Still accumulating as much $FXN as humanly possible and still geeking out hard on $TRUEO and $WALLET and some others
- Just sold a bit of my $QQQ and replaced with $TQQQ to add leverage
- Kamino now allowing borrowing against Backpack-tokenized stonks on Solana
- Polymarket suffered a small hack/exploit yesterday as well
- $UNI launches aggregator hooks
- PredictFun announces $PREDICT token + airdrop
- Top gainers among top 300 coins over last 24 hours include $BEAM at +33.0%, $Q at +16.1%, $HASH at +14.6%, $CAP at +5.7%, and $SOSO at +5.3%,
- Stanley Druckenmiller makes first ever Twitter/X post, on Hyperliquid and TradeXYZ
- Will Manidis mega-essay (145 pages apparently) 'The Commanding Heights' is generating a lot of discussion on here... is exceptionally well-written and worth a look for sure...
- Also the Venkatesh Rao essay from a couple days ago 'Cognitive Mercantilism' was extremely good as well
- US election coming on Tuesday, polls suggesting Democrats to do quite well, but some are skeptical of polling accuracy, we will see...
Conclusion
Is really a wild time lads...
Feel like this is the first point at which existential fears over AI and the future have really completely permeated the online discourse...
And for good reason too I think...
I definitely have immense empathy for the tech worker with a family and high fixed monthly expenses who is in the middle of losing his job...
Is gonna be bleak for a lot of people...
With that said I remain an eternal optimist and think most of us here in this corner of the internet will be net beneficiaries of all the changes coming...
As I said yesterday, think the key is just staying lean, keeping expenses low, and maintaing an attitude of excitement + curiosity vis a vis all the massive innovations happening...
So yeah, keep getting after it lads...
Make your ancestors and descendents proud ILY LFG 💪
Nomatic retweeted
I would love to have recorded something on the Binance hack today and the market reaction, but honestly who cares.
It's gonna be the main topic on every other channel, and it will dominate headlines for weeks, but inevitably not much changed overnight. We're still here.
I think the market likely bottomed too if a $6B hack can't shake us, which means we have precious time to position ourselves and capitalize on what's ahead.
Study up on how to use powerful DeFi tools like @DeriveXYZ to compound returns for your major holdings.
This convo is just that--deep in the trenches with a DeFi professional investor and builder (@mbaril010) on how he's been capitalizing on tokenized stock trading LPs with RHC, onchain options, and the recent launch of @tacticallsXYZ, a kind of FOMO app for options.
Enjoy! 👊
🎙️ New @Edge_Pod
💡 Octav Founder Shares His DeFi Playbook: Options, Uniswap LPs, and Tokenized Stocks
0:00 - Intro
2:11 - From BTC mining to DeFi Summer
6:34 - How Octav offers early signal
8:53 - What new DeFi is most exciting?
16:41 - Huge LP returns on RHC
20:57 - Robinhood using USDG
22:32 - Hedging Uniswap LPs with options
27:02 - Why he moved from Base to RHC
28:13 - HL, Kinetiq, and why Elysium
32:19 - Ideas for managing longs next year
40:23 - Are crypto FDV multiples out of line?
42:22 - Why ETH is a SoV, plus top 3 liquid bags
46:46 - Shopping list: VVV, DIME
48:36 - DIME/Paradex bull thesis
52:38 - What is @tacticallsXYZ?
57:06 - Tacticalls demo, FOMO for options
1:03:13 - Octav demo, tracking any wallet
1:11:00 - Closing
🙏 Thanks to @OctavFi Labs CoFounder and CEO @mbaril010 for joining us!
Nomatic retweeted
New @Edge_Pod!
@mbaril010 tests every app integrated by @OctavFi, a customizable DeFi portfolio tracker and data provider.
So what is he investing his money into?
We dig into his DeFi playbook, from tokenized stock LPs to options, plus a demo of @tacticallsXYZ, "a newer FOMO app for options."
Nomatic retweeted
a few weeks ago i mentioned that the first phase of robinhood chain gave us a lot of "toys"
and that the next one would take these experiments a step forward, making them more mature and elegantly designed
believe we're about to see this now (@standard_rsv being a great example of this)
