Lately, the concept of viewing specific individuals as counter-trading signals has risen in popularity.

‘X is buying? Time to dump our bags.’

‘Feel pretty good that Y is long as we’re bearish’

These notations are not only foolish, but reflect mental immaturity. 2/ This is commonplace as most PvP traders still alive believe that they are superior than the market.

However if everyone here is better than the average, then who is actually losing out?

Honest truth is that as market has become more difficult, edges become slimmer.

0/ Stoked to announce the launch of @tangent_xyz, a Web 3 angel collective designed to help founders navigate the crypto landscape.

The premise: A personal board of advisors for founders looking to build crypto solutions for tomorrow's problems.
tangent.ventures 1/ @mrjasonchoi and I realized that whilst many innovations have popped up across DeFi, investing was still largely driven using TradFi models.

Re-thinking this from first principles, we wanted to combine the best of what Web 3 has to offer with investing structures from Web 2

1/ VCs selling their unlocks in a bear market is a symptom, not the cause of misaligned market incentives.

Who sells what or when is irrelevant IMO. Every token deal (seed or later) is a contractual obligation between protocol and investor for capital (and capital alone).

https://twitter.com/Blockanalia/status/1533070217122746373

2/ Value add from the investor is optional. It can come in the form of advisory, research, marketing etc.

I would hands down prefer an investor that fights side by side with me during the crucial early period, knowing they will realise profit after the agreement is over...

Reflections from a Crypto Analyst

It's been ~18 months since @Arthur_0x pulled me into the crypto rabbithole. Since then, I've had the best experience any analyst could ask for, learning and growing under the DeFiance/3AC umbrella.

A quick thread with some personal news below~ 1/ Crypto as a Career

In 2020, we were on the cusp of a new technological revolution. Back then, DeFi had just exploded onto the scene and we had yet to witness the rise of NFTs

https://twitter.com/0xWangarian/status/1322576536571060224?s=20&t=ZZtB4m8qBQy-XVbdJAJXNA

0/ Been thinking about the GameFi market structure quite a bit over the past few weeks. Some thoughts below:
- Games inherently do not last long. There are exceptions to the rule, but when devs stop producing content for games, eventually each game has a capped lifecycle.

https://twitter.com/bottomd0g/status/1467098312566140937

1/
- They way games are incrementally monetized are via sequels and hopefully franchises (think Halo / CoD / Fifa etc). This means that individual tokens structured within specific games will be hard pressed to capture upside from future sequels (they will have their own token)

0/ For the past few months, the Alpha Launchpad has been quietly providing immense value to $ALPHA stakers. Just because you don't see immediate high APYs, doesn't mean your capital is idle.

Quick thread on why numba go up is not the only way to win in crypto.
👇

https://twitter.com/AlphaFinanceLab/status/1447921543355506697

1/ Alpha Staking

Quick recap, $ALPHA staking automatically makes you eligible for all airdrops from protocols being incubated in the Alpha Launchpad.

On top of that, stakers are paid a portion of all the fees ever earnt from Alpha products.

Staking: tokenomics.alphafinance.io/staking

1/ Couple of quick stats on the Avax ecosystem:

- TVL has just peaked ATH at $2.6b since the parabolic run-up when Avalanche Rush was announced
- TVL has increased ~10x since the announcement and continues to climb. 2/ Bridge inflows:

- Over the past 30 days, there's been $1.35b net inflows from the ETH bridge
- 20 of the 30 days have recorded net inflows
- Last 7 days have recorded inflows > outflows leading up to Avalanche Rush

0/ Tokenomic Design Explorations

Since the inception of crypto-assets, tokenomics have been a fresh attempt at designing asset ownership instruments from first principles.

However, we're just scratching the surface. A thread on how tokenomics can develop in a xchain world
👇 1/ Recap

Currently, tokens are used primarily as a growth marketing tool. Via liquidity mining, protocols spend 'equity' in return for bootstrapping initial adoption.

This has been wildly successful, with Compound's LM event kickstarting the original DeFi Summer last year.

1/ Prelim thoughts on market cycle

We are reaching the stage where valuations are beginning to lose sense.

New projects out the gate with untested proven models are frequently hitting billion dollar valuations.

Multiple 'froth' signals are also surfacing across the board 2/ Does this mean its the top? Not necessarily.

As the saying goes - Signs of froth are indistinguishable from signs of adoption.

However I find myself thinking that certain projects can drop 90% in valuation now and still be fairly valued.

0/ Teaching an old DEX new tricks ($BNT)

4 months ago, Bancor released their flagship single sided Impermanent Loss protection solution for LPs.

70x increase in TVL and 55x increase in volume later,
I present a deep dive on a forgotten DEX that may be the dark horse of 2021
👇 1/ Story so far

Bancor is a OG DEX launched in 2018 (to much fanfare) but suffered from an overcomplicated token model and lacked noticeable traction despite lofty promises.

venturebeat.com/2017/12/12/6-m…

1/ Observations of a dHedge fund manager

Whilst it has its drawbacks, I find myself interacting with the dHedge platform frequently.

For the uninitiated, @dHedgeOrg is a non-custodial copy trading protocol built on top of the @synthetix_io ecosystem.

app.dhedge.org 2/ dHedge's value proposition is simple. It provides a platform for active fund managers to showcase their trading prowess, with a transparent scoreboard for all to see.

Managers can also interact with their investors via public and private posts

1/ Thoughts on investing and missing winners:
A case study on $COVER.

You can't catch every winner. That said, there's always something to take away from the one that got away. 2/ Since the lows in late Nov, $COVER has ~6x its token price.

I knew about COVER since the SAFE farming days, but dumped my SAFE tokens shortly after Cover released its original tokenomics.

https://twitter.com/Wangarian1/status/1317670107091406850?s=20

1/ Some of you are wondering why $SUSHI has been pumping.

Sushiswap? Wasn't that the dead $UNI fork that got hacked by the founder 2 months ago?

Surprisingly, $SUSHI never left. Instead - it has silently been building in the background.

Let me break it down for you
👇 2/ $SUSHI's dark horse narrative comprises of 3 main elements:

1. Market proven product yielding stable cashflows
2. Product releases with strong USP factor
3. Near term catalyst

Together, they construct a powerful narrative for Sushiswap's recovery - and why its far from over

1/ On 17th Nov, $UNI farming will end.

Right now ~$2.3bn funds are deployed farming UNI, with $ETH being the reference token.

This means that there is currently ~$1.1bn ETH locked up, about to be released into the wild.

Where do you think that ETH will go? 2/ Whilst a large portion of current TVL will stay in the same pools (fees generated are juicy), I posit a reasonable amount of ETH will leave the Uniswap system in search of higher yields.

Nobody knows numbers at this point but 50% of TVL leaving may be within reason.

1/

6 months ago, I didn't have the simplest idea of what a blockchain was.

This week, I've officially taken the plunge to work full time @DeFianceCapital.

Here are a few thoughts from a newcomer to the wild wild land of crypto.
👇👇👇👇👇 2/ Like so many of you here, my innocent curiosity of this new Internet money quickly evolved into a fully encapsulating mind consuming obsession.

I fell down the classic crypto rabbithole and for the first time in my life, discovered a fire ignite within me.