πβ BMX enters into a Data Partnership with Token Terminal
βͺοΈ @MorphexBMX is one of the fastest growing derivative exchange projects on @base, with a deployment also on @modenetwork.
βͺοΈ The project has been entirely self-funded, with its core contributors bringing several years of experience from building onchain protocols.
βͺοΈ Now, with ~$1 billion in all-time notional trading volume, BMX recognized the need for reliable, continuous, and data-driven stakeholder reporting.
Reliable onchain data & transparent stakeholder reporting matter
βͺοΈ To improve its existing onchain analytics and stakeholder reporting, BMX turned to Token Terminal, a leading onchain data platform trusted by institutional partners like Bloomberg.
βͺοΈ Token Terminal's dedicated focus on data standardization made it an ideal partner for BMX.
βͺοΈ The decision to partner was further eased by the fact that Token Terminal already had a public track record of reporting standardized financial and usage metrics for other leading derivative exchange projects, such as GMX, dYdX, and more.
βBy partnering with Token Terminal, weβre able to benchmark our performance against the competition in a fair and accurate way. Having a real-time dashboard on Token Terminal is not only a great tool for our team, but for all BMX stakeholders.β
crypto has reached escape velocity π§βππ
people...
βͺοΈ value cryptoassets
βͺοΈ hold cryptoassets
βͺοΈ trade cryptoassets
βͺοΈ borrow cryptoassets
βͺοΈ use crypto applications
βͺοΈ transact with stablecoins
βͺοΈ earn by building in crypto
βͺοΈ can use crypto networks for ~free
a thread π§΅β¬οΈ
People value cryptoassets
βͺοΈ Five cryptoassets have reached a market cap of over $100 billion
βͺοΈ The combined market cap of these 5 assets is ~$3 trillion
People hold cryptoassets
βͺοΈ Close to 1 billion unique addresses hold a cryptoasset balance
βͺοΈ The tokenholder count has gone up 10x over the past four years
βͺοΈ Owner of @iShares, Bitcoin Trust ($18B AUM)
βͺοΈ Owner in @circle, the issuer of USDC ($32B supply)
βͺοΈ Owner in @Securitize, the transfer agent for the BUIDL onchain money market fund ($300M AUM)
2. BITCOIN (ASSET)
The firm sees three unique advantages to BTC the asset:
βͺοΈ BlackRock serves customers across the globe and now, with BTC and IBIT, has a unique product to sell to its clients.
βͺοΈ Itβs likely that BlackRock will productize all major cryptoassets (ETH, SOL, etc.) in a similar manner.
3. BLOCKCHAIN (TECHNOLOGY)
The firm believes that blockchain technology can improve capital markets in several ways:
1β£ 24/7 operational capital markets
2β£ Improved transparency and investor access
3β£ Lower fees and faster settlement
Strategy:
βͺοΈ We believe that @BlackRock will eventually launch its own blockchain, and follow a similar playbook that Coinbase has used with @base.
βͺοΈ This would allow BlackRock to concentrate the recordkeeping of its holdings across asset classes ($10T AUM) to a single, global, interoperable, and transparent ledger.
Great interview on the topic w/ @robbiemitchnick
More @BlackRock BUIDL data coming to the Terminal π