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Midgetwhale Profile picture
Midgetwhale
@derpaderpederp
Professional referrer at 👇
Jan 10 • 16 tweets • 4 min read
$SNX from @synthetix_io is an incredibly overvalued protocol.

One would not think so at the surface since it's has accumulated $73.6 Million in fees the past 26 months, making for an impressive $34.05M per year.

However, let's dive deeper and compare to $GNS👇 Image $GNS has only made $37.27M in fees in 27 months or $16.63M per year. Only 61.5% of those fees go to $GNS token holders. Leaving only $10.23M/yr for token holders. Image
May 11, 2023 • 6 tweets • 2 min read
So remember when I sold the pico top on $GMX?
Well, that gave me a nice chunk of cash and this is what I did with most of it the past days.

I bought even more $GNS!
Now honestly, originally I intended to buy back $GMX at lower prices, but the price development of $GNS in that period was even worse. Image
May 10, 2023 • 9 tweets • 3 min read
The price performance of $GNS has been pretty sad recently.
Lets have a comparison with a group of other projects since from just before the #Binance listing.
$MUX $KWENTA $PERP $GMX $UNIDX $LVL $VELA Image Best performance (+60%) out of the bunch was for $MCB / $MUX.
They started to let their traders aggregate trades from gains.trade and gmx.io as well and picked up a lot of volume.
Then they managed to keep that volume whilst routing less. Image
Dec 9, 2022 • 9 tweets • 3 min read
I looked at the #realyield potential of several protocols, $SNX, $GMX, $GNS, $MYC, $MCB and $UNIDX.
Perps only in this overview, call me when $PERP, $DYDX and $CAP finally pay out token holders and/or get their stats site in order. Image One of the things that really jump out is how $GMX gives almost 5x as many fees to token holders as $SNX yet has a lower estimated FDV.
Paging @napgener? 🤷‍♂️
Dec 4, 2022 • 8 tweets • 3 min read
This stays an amazing lesson why FDV is key.

Side by side FDV 's of the perpetual dex space and how tokenomics wrecked portfolios and why it didn't. $GNS, $PERP, $INJ, $SNX, $GMX and $DYDX

From 32 Billion dollars in October 2021 to just 3.6 Billion dollars. How it all happened: $DYDX was once valued at 24.5 Billion with only a tiny fraction of their tokens in circulation. Continued dillution that incentivizes trading pushed token price ever lower.
Now 'only' $1.81 Billion and still arguably overvalued.
Look at this unlock schedule and wait another year.
Dec 3, 2022 • 6 tweets • 2 min read
This is clear COLLUSION between Big Tech and the Democrat Party to influence the election by limiting the spread of information.
Remember that the alleged Russia collusion was exactly about that. Altering public perception online (by use of bot farms).
Google did the same thing: In 2018 this video surfaced where the hyperbiased nature of Google (and daughter company Youtube) is on display.
Since then we've seen a total ban of every voice to the right of near middle of the road centrists like Crowder, Peterson or Shapiro. breitbart.com/tech/2018/09/1…
Sep 9, 2022 • 4 tweets • 2 min read
The US #DEBT bomb has finally been ignited.
People are sound asleep because fiscal conservatives have been warning about this for decades.
This time is different.
12 month interest exploding to over $700 billion, yields still sky high.
How will this get paid?
Anser below. Image By issuing more debt!
And what will that do to the bond market?
Well, it will increase the offer side!
And what will that do to the yields?
Well, they will go higher!
And what will that do to interest on debt?
Well, it will go higher!
And how will this get paid?
Go back to line 1
Sep 3, 2022 • 8 tweets • 4 min read
A great point is made here by @taureau_21 but he hasn't grasped the full implications of what he said in my opinion.
Zero price impact platforms like $GMX open themselves up for price manipulation exploits and it is why $GNS has moved away from this model several months ago.
A 🧵 GMX allows you to long $ETH with 52 million dollars whilst not moving the price of $ETH at all. It then also allows you to short $ETH with $20 million again with no price impact.
Aug 15, 2022 • 16 tweets • 4 min read
$GNS 101: What beginners need to know. $GNS is the core token behind gTrade, a decentralized synthetic leverage platform that offers leverage trading on 71 assets: 39 crypto pairs, 10 forex pairs and 22 stocks.
This is the largest offering in the decentralized leverage/perpetuals space. Image
Aug 9, 2022 • 18 tweets • 8 min read
The #RealYield phenomenon. Can the narrative ignite a new bull market or will it fade?
Let's explore. After a severe bear market, triggered by ponzi tokenomics that took down the 40 billion dollar sandcastle that was $LUNA, the market is seeking fundamental value instead of chasing promises of economic perpetuum mobiles where you get stuck holding the bag once the music stops.