Thread by @TheDeFiFamily

DEEP F***** VALUE: Perp DEX Edition 🧵

$IDEX @idexio is the deepest value 10x (see why) 👇

Traders are moving away from CEXs for reasons such as regulation, risk of locked funds, and control.

Marketplaces such as @dYdX @GainsNetwork_io and @GMX_IO have dominated.

1/10

They have dominated because the products have a proven product-market fit as well as a real-yield narrative.

Spot is cool, but leverage is cooler. See @RobinhoodApp, retail wants pro-level access.

2/10

Real yield is a narrative that continues to dominate in crypto. Fluff tokens cannot hold there value long enough as they offer nothing to the holder other than quasi ownership of the DAO / protocol.

While $DYDX doesn’t offer fee share yet, others like $GNS and $GMX do.

3/10

30-day revenue:

$DYDX - $7.2M
$GNS - $1.7M
$GMX - $5.3M
Avg = $4.7M

Annualized… $57M

These are MONEY printing protocols.

4/10

Current Market Cap / FD MC

$DYDX - $250M / $2.5Bn
$GNS - $180M / $180M
$GMX - $620M / $950M

$IDEX - $52M / $73M (5-10x upside)

These are EXTREMELY valuable protocols that PRINT money.

5/10

The team: absolute chads

@0xVKTR - amazing trader that knows what pro users need, product / marketing
@AlexWearn - software developer, crypto native CEO
@Pancakesbrah - simply based

6/10

About to launch is v4 a PERP DEX. This team has been building for over 5 years and I believe they will get noticed for what they have built.

It looks / feels like an on-chain FTX… and that’s not a bad thing. It’s beautiful. HUGE potential.

7/10

The marketing launch is going to go live with top CT accounts (traders, memesters, degens) as affiliates of $IDEX which I believe will be extremely successful to get users to try the product which will hook them.

8/10

It’s scheduled to go live the week of May 22. Since it’s not live… if you’re reading this you’re still early.

Mindshare is slowly building as we see a token price that is rising.

$50M MC is still a micro-cap in all sense of things, but this one has huge upside.

9/10

If you enjoyed the thread, follow, like and RT for more 👍

I share 10-100x alpha for fun.

Let’s bring #WAGMI back. Let’s bring back defi summer.

10/10