HYPE fair valuation is realistically >$100 RIGHT NOW.

Perps are the #1 use case in crypto & have been.. & it’s the best perps Dex.

If SOL is $130m based on inferior trading tech (primarily due to a nice wallet & a speculative ecosystem) then Hyperliquid at $100 is fair.

🧵 What’s more, the token isn’t mintable & is burned based on trading fees. Far different from how FTT or BNB work. Much less SOL.

Plus FDV is a meme with 38% of the supply allocated for staking & community distro.

So $100 may be lower than what is fair depending on staking.

1. If this admin wants to take our industry down via lawfare, the end game is that the SEC can lose every securities case only to see the treasury sanction individuals, companies, funds & enterprises for KYC/AML + separate IRS action.

Leaving America doesn’t help.. see Ver/CZ. 2. The FBI recently signaled to US users to avoid unregistered money transmitter services.

This would be the signaling you’d see if they had a feeling the securities approach wasn’t working.

But the SEC did the job of exhausting our industry of cash to fight round 2 & 3.

Being an OG DeFi 1 power user/founder, I naturally wanted to play with every system I could get my hands on over break across the various exploding ecosystems.

I 100% wanted to approach this with an open mind.

So here is my true take having used the systems vs. reading. 🧵

1/ Liquidity rn = SOL => APTOS + SUI.

This ponzu will result in a violent return to ETH L2s when the music stops.

BUT, you can make huge returns in the meantime. If you're trying to make it the first time, ape harder. 🦧

Play with EVERYTHING & be curious. Use stop losses.

2/

1/ When this closes.. along with all of the other raises going on from institutions you’ll say “I knew it wasn’t over.” But I’ve never seen CT so paranoid.

Here is why I don’t think we are going to 👹🏘

Or if we do.. you won’t care about crypto.

yahoo.com/now/andreessen… 2/ Realistically, this type of dry powder isn’t going to ETH or BTC. Nobody pats you to hold what you can just buy spot off Coinbase.

So maybe you think “you well that just goes to new projects.”

But extrapolate. Apes are already in Goblin Town.

1/ It’s disheartening to see an army of people band around ppl who don’t build shit & turn on @kaiynne.

I don’t understand how we, as web3 builders, are expected to ship open source code that helps an ecosystem boom as a result. But if a token or platform doesn’t moon.. ☠️ 2/ So now the guy who unlocked the cheat code for the industry (by adding to what Livepeer did) is now a villain for making money off his own audible.

& the PAPER PUSHERS who indirectly banked on this effort are now shitting on all of us.. builders, community members, ETH, etc

1/ We were going to write a longer form post mortem. However, I think that's a little formal at this point.

I'll provide a tweet storm.

I'll start by saying yesterday was frustrating. We worked months with @AaveAave, built integrations into their protocol, subsidized TVL.. 2/ We worked tirelessly through documentation, helping to amend processes, coded our own parameters, & worked closely with the internal team + developers along the way. It was a charm.

We have ambitious plans on how we built together long term. So we put our best foot forward..

1/ I was talking to @hjmomtazi yesterday and mentioned that I think projects like @synthetix_io & @Barn_Bridge are still way ahead of their time. We may be a year out from seeing these at scale. This is why the L2 whispers are so exciting at the moment. 2/ This generalized (ahead of our time) is true of asset based derivatives and yield based derivatives for different but similar reasons which both get fixed by L2. Meaning, they stem from the same place (gas fees) but there are different reasons gas fee optimization helps.

1/ As someone who ran a few ecommerce companies before crypto, I think I can answer this.

First, allowing ecom companies to schedule cash flows against receivables when they have excess cash flows to plan re-orders. This is basic financial planning & requires fixed returns.

https://twitter.com/Barn_Bridge/status/1378400127568601094

2/ You can expound on this, for example, if the scenario the ecom company has good credit & can take out a tradfi loan at a lower rate than 8% (the slippage you would take on a $1m deposit to @Barn_Bridge) & paying down the loan using a basic rate arbitrage & financial planning.

1) If all the tokens on Ethereum are worth more than $ETH by a wide margin it creates an opportunity for a massive financial institution or central bank to take over the network. I don't think it will work but it will be interesting to watch tradFi learn crypto & what they try. 2) You can say the same in the scenario that more BTC is moving on ETH. The security issue isn't ren holding PKs it's that the network transactions pay for security & if its all on Ethereum then it causes security concerns for BTC & also requires users to act selflessly (nope).