defi, neobanks & token economics sometimes right, rarely on time https://xitter.gq/t.co/Ajj2wRLi1o
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Joined July 2017
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looking at AERO because the valuation still doesn’t make much sense to me next to UNI.
$AERO market cap: ~$680m
$UNI market cap: ~$5.7b
UNI is worth more than 8x as much.
last 12 months:
Aerodrome fees: ~$132m
Uniswap fees: ~$961m
holder/protocol revenue:
AERO: ~$94m
UNI: ~$69m
so AERO generated more revenue for holders over the last year while trading at a fraction of UNI valuation. wow.
more trading, more fees
more fees, more revenue for veAERO
more demand for liquidity, more competition for votes
that the current valuation gap is wide
that’s why @koolkrypto223 thesis long aero short uni is really interesting
but personally I prefer to just accumulate my AERO spot
I’m always bullish on $AERO
the little things matter.
wow @ether_fi just reimbursed me $83 in missed referral rewards from september.
it’s not about the money. it’s about a team that actually gives a shit about its users and makes things right.
another reason i’m bullish on $ETHFI.
i didn’t even push for this money. team took care of it on their own.
that’s how the business operates, and it says a lot about the culture and systems @MikeSilagadze has built at etherfi.
huge thanks. this kind of stuff doesn’t go unnoticed.
yea, that’s the kind of perk i actually want.
not useless badges just a clear benefit for doing what i’d probably do anyway.
1/ spend $5k
2/ park $10k in liquid
3/ bring 2 real users.
i wish to see stake more $ETHFI to get it.
simple. better than most of the garbage perks crypto cards try to sell you.
@ether_fi is at least trying to reward actual activity, not just farm impressions.
help me get this perk using my ref (there's some bonus for you as well)
ether.fi/@tryhardsorry
arthur hayes just dumped $22m+ in crypto.
$ETH, $ENA, $UNI, $ETHFI, $AERO, $PENDLE. bro basically opened my portfolio and pressed SELL ALL
9 days ago he was bullish. now he is sitting in stables waiting for the all clear signal.
you know what the funniest part? by the time the all clear comes, we’ll probably be 40% higher.
either arthur knows something we don’t, or he just sold the fucking bottom. never understood the guy
which crypto card has the balls to offer a REAL 10% discount on apple products?
1/ not that “every 10th iphone is free” lottery bullshit. that’s not cashback, that’s just low IQ marketing.
2/ not 20% cashback capped at $50.
so I buy a $1,500 iphone, i get $150 back. guaranteed. not after 7 days or sign with blood, no raffles, no mystery points, no vip bullshit, no 20 pages of terms/conditions.
@ether_fi @Plasma @EthenaPay @avici @KASTxyz @RedotPay
who’s actually gonna deliver this?
etherfi casually acquiring wallets while $ETHFI holders are fighting for their lives lol
love the expansion, now make sure some of that value actually reaches the token
@MikeSilagadze
btw my average buy at $1.8 after all DCA
ether․fi acquires @zealwallet!
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ether.fi/zeal
imagine stacking gold your entire life just to find out some nerds in a lab are figuring out how to make it from mercury lmao
marathon fusion claims it can turn mercury into actual gold using nuclear fusion.
well still experimental, and nobody knows the cost per ounce yet. (cheaper than $4,000 probably) but if they ever figure out how to mass-produce it cheaply, gold could get a whole lot cheaper.
meanwhile, good luck creating bitcoin #21,000,001 in a lab.
boomers, might be time to diversify those shiny rocks into $BTC
another altcoin on the lab?
fully agree with @shaundadevens and think $ETHFI is most mispriced tokens in DeFi.
these goats are building a serious business, not another memes launchpad. look at the revenue, adoption, expanding products, now cashback paid in ETHFI bought from the market. it still less than I want to see but they’re growing it’s a plus.
now token is still trading sub $700m FDV.
what I see as a problem always been the same: successful business doesn’t necessarily mean a successful token.
but at some point, if revenue keeps growing and more value flows back to ETHFI, this valuation becomes harder and harder to justify.
note:
i’m happy to keep holding at these prices.
more about $AERO i like the longterm pic.
billions in trading volume, millions in fees, and now expansion across 7 chains is just here. very few defi protocols can put up numbers like these.
meanwhile, too many lev longs piled into the token, so the recent shakeout wasn’t exactly surprising.
can’t tell you where the bottom is, but planning to be part of this story for the next few years, i’d rather hold spot than risk getting liq along the way.
aero doesn’t need to dominate the entire dex market. it just needs to keep taking a bigger slice of the pie and i think it’s in a pretty good position to do exactly that.
100% to holders
TryHardSorry retweeted
Since September the $AERO share of spot RWA volume (green) has been inching closer and closer to parity with the $UNI share (blue). ty @Blockworks for graph
This is before they deploy on mainnet, RH chain, Arbitrum, Elysium (?👀?) etc...
Not extremely hard to see where this trend is heading.
TryHardSorry retweeted
some thoughts on the market rn:
i'm of the opinion that since on-chain was what onboarded retail via fomo/pf, it would probably be the first place to catch back up again when liq conditions improve (we've been getting small glimpses of this - esp when $BTC makes a tiny move from 80→83k, on-chain stuff pumps hard)
we saw RH / SOL on-chain send via "liquidity events," with $PONS going from 0 → 1B and $STONK to 400M, and that capital rotated down the risk curve to everything else on-chain
> then lagged as capital flocked to chase majors
> then the majors lagged to chase the majors beta
> then the beta to the beta
> then the beta to the beta to the beta
this pb was kinda expected? we saw general weakness in the first major leaders ($ZEC, $ENA, $UNI) even while $BTC was grinding slowly up toward $87k, and it became even more obvious when $TIA and $STRK rallied multiple X's off the lows
this isn't a comment on whether those tickers deserved the rally - my view is simpler: there wasn't enough capital in crypto to support these sudden repricings across the board and now we're seeing a general pullback
back to my original point, i say it's weird because on-chain is still generally very weak (leaders like $PONS haven't shown much life yet), yet there's clear bifurcation with select on-chain names holding up better than the prior leaders ($HOOKR, #V4, $PRIORS, $WTH etc.)
part of me is wondering if this next run-up on-chain will be driven by other names vs the leaders of the first run. if so, to see another type of run like we did in round 1, we need another protocol to run to the hundreds of millions just like PONS/STONK did for their ecosystems
idk which tickers are the chosen ones, but if i had to guess it'll be one with all a combo of the correct narratives (v4 hooks, agentic finance, revenue meta)
at the end of the day, profit taking or "level of jeetness" is just a function of liquidity, plain and simple. and crypto in general has been running low on liq for the past few weeks, so every pop has been aggressively sold into to chase the next shiny thing
same view as before, $BTC above 88-90k and the next round of musical chairs starts again
can i ask who’s actually making money on NFTs these days?
this whole space is starting to feel like a black hole where money goes in and never comes back. brutal
been looking on @conso_xyz and upcoming their NFTs
there are 5,555 bots + free mint for WL
these aren’t supposed to be just another collection of pictures.
each bot gives you access to the conso miner app, where you can earn ZAPs, and adds a 25% mining boost. the bots are also designed to play a role in the network itself.
the project is building on @SuiNetwork , with a focus on digital reputation and rewarding users
of course, none of this guarantees the NFTs will be valuable. but getting early access to a free mint with some actual utility sounds like a pretty reasonable bet to me.
i’m going for a WL spot. you can check your eligibility here:
conso.xyz/bots
the difference this time is that semiconductor companies aren’t just selling a narrative. they’re making real money, and ai demand is real.
but that doesn’t mean their stocks can’t be massively overpriced.
my bigger concern is what happens to the rest of the market if the ai trade finally unwinds. crypto has been struggling even with tech near all-time highs. imagine what happens when that support disappears.
