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More from @defi_monk

MONK

@defi_monk

Nov 11

1) A Valuation of Hyperliquid
Key takeaways from my latest Messari report

My updated valuation outlook on the $HYPE token places it at a $13B FDV, with the potential to rerate higher than $30B in the right market conditions.

Let's dive in:

🧵👇

2) The end of incentives have done little to stop Hyperliquid's momentum.

We saw ATHs in market share in October, and OI has also hit an ATH at over $1.5B.

3) With TGE we'll also get the launch of the HyperEVM, with over 35+ teams planning to participate in the new eco.

This moves Hyperliquid closer to a general purpose L1 and away from an appchain.

Here's a market map I made:

Read 14 tweets

MONK

@defi_monk

Oct 30

1) The $DOGE -> Mid Cap Meme Rotation

IMO, memecoins need $DOGE, and with renewed interest in $DOGE as the election nears, I think it'll be interesting to map out how value will disperse across the memecoin category.

Here's how I think it plays out.

Thread below 🧵👇:

2) It is my view that it is getting increasingly difficult to push meme market share higher without a significant move in $DOGE / $SHIB.

The aggregate memecoin market cap has surged in 2024, and is approaching its 2021 ATH:

3) Most of the value gained this year has come from explosive growth in non - $DOGE / $SHIB memecoins.

DOGE + SHIB dominance is now down to ~57%:

Read 16 tweets

MONK

@defi_monk

Sep 18

1) A Valuation of Aerodrome
Key takeaways from my latest Messari report.

@AerodromeFi is winning @base with its MetaDEX model, but is it sustainable long term?

I built a model to answer this question and get to the bottom of $AERO's ve(3,3) design.

🧵👇

https://x.com/defi_monk/status/1833520001266987070

2) If you don't know why Base + Aerodrome is a killer combo, I explained the development here:

https://x.com/defi_monk/status/1833520001266987070

3) Aerodrome's MetaDEX model combines the best aspects of previous DEX winners.

@CurveFinance figured out how to incorporate a value accruing token into their DEX's economy.

This made it easier to bootstrap liquidity, and drive active participation from token holders.

Read 13 tweets

MONK

@defi_monk

Sep 3

1) A New $META for DAOs
Key takeaways from my latest Messari Report

I wrote a report on @MetaDAOProject, which is one of the most ambitious projects I've found all year. Here are some highlights.

Thread below on Futarchy, and the DAO trying to reshape crypto governance 🧵👇

https://x.com/metaproph3t/status/1819173856487395643

2) DAOs are flawed.

Delegate power is centralized, voter participation is low, and vulnerability to governance attacks is high.

None of that is news but so far there have been very few viable solutions.

Futarchy begs to differ:

https://x.com/metaproph3t/status/1819173856487395643

3) @MetaDAOProject creates decision markets to help DAOs settle proposals with the same underlying token logic @Polymarket uses.

We go in-depth into how these markets work in the report.

Here's just one example of the many trade routes that are possible in a decision market:

Read 8 tweets

MONK

@defi_monk

Aug 12

1) YES or NO on Polymarket?
A preview of my latest Messari report

@Polymarket's organic growth story this year deserves to be studied. Let's sift through the noise and try to predict what the future may hold for one of crypto's breakout applications.

Thread below 🧵👇

https://x.com/nigeleccles/status/1816863570145022160

2) A main concern right now is what happens to Polymarket's up and to the right metrics once the election cycle ends.

It's a valid point, but we think there's also encouraging data that suggests sustainability.

https://x.com/nigeleccles/status/1816863570145022160

3) Let's look at some numbers.

At the end of July, there were 32 active markets doing >$1M in notional volume. If you added up that volume, the 17 election-driven markets account for ~94% of it.

Read 12 tweets

MONK

@defi_monk

Jun 28

You might be seeing some salt on your FYP regarding the $BLAST airdrop this week.

I'm here to explain why.

Here's a timeline of $BLAST's incentive mechanisms over the past few months and why some people aren't too happy with the Pacman.

If you aren't too familiar with $BLAST, they're the only $ETH L2 to offer a baseline $ETH and stablecoin yield that accrues in the form of automatic rebases. This is done through restaking and on-chain T-Bills.

As long as you hold $ETH and $USDB, you can earn native yield.

This thread is not at all aimed at discrediting the many great projects, teams and communities on $BLAST.

It's aimed at evaluating $BLAST's participation in the "points meta" and why early farmers are dissatisfied.

Read 14 tweets

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