Axiom (YCombinator W25) now up to $179m in top line revenue since launching in 7 months ago in January
Was the fastest company in YC history to hit $100m in top-line afaik (did it in 5 months). And about to be the fastest to hit $200m
Currently running at ~$1-3m of top-line fees daily on $100-$300m of spot volume
Product led growth story continues to keep the team ahead of a hungry pack (GMGN, Trojan, BullX). Over the last two months, pushed new features which include: Pump live monitor, KOL scanner, multi vendor bubble maps, dev funding venue, holder avg entries, etc.
Net-revenue margins (fees less referrals and rakeback) sit at ~50%. Redistribution strategy has propagated the flywheel of adding new users while retaining existing traders. Led to category dominance, with market share at ~62% (up from nothing 7 months ago)
Incredible story continues. Wishing the team nothing but continued success ahead
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1. Rates Lower but Higher
- Market is pricing in some serious cuts in ‘24 with a ~80% chance of rates ending sub 4%
- I’m on the less aggro side and say we end ‘24 north of 4% but sub 5%
- I’m betting inflation is sticky on the way down and the fed will have trouble cutting
2. Crypto Market Cap >$2T
- Trustless financial systems will only become more valuable (esp with lower rates)
- Global conflict, migrant flows, inflationary fiat, and fallible banking systems are all tailwinds
- Crypto market cap sits at $1.7t today and is headed higher