animol
@PDAnimol
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the shift from dated futures and options towards perps will be glorious. capital efficient, aggregated liquidity and simplicity.
perps eating the equity 0dte option mkt is the single most reliable 5 year bet that you could make, and if i could figure out how to cleanly full port it i would
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bulletish
After analyzing @bulletxyz_, I’m convinced its architecture is superior for delivering a high-frequency trading (HFT) execution environment compared to Solana’s current offerings. Bullet aims to be the Nasdaq onchain. How Bullet Works Bullet runs a streaming execution model:
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Transparency creates trust and accountability. The conditions that crypto was built on - yet repeatedly this has also been the point of failure in our industry.
On the latest @TheBlockPods, Wintermute CEO @EvgenyGaevoy calls out the disorderly/opaque manner in which they were ADL'd on Binance Binance "ADL'ed us at $5 & the token was trading at like $1, and you don't even have a chance to hedge basically." "It's fine to get ADL'd if you
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The momentum towards DEXs will only accelerate. The largest exchange failed, it stemmed from poor design, that rippled throughout the entire ecosystem and once again retail users suffer the most. In events like this transparency and verifiability become important, not as a
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The current perps meta: speculation drives adoption and bootstraps, the DEXs with substance retain and graduate to the fundamental cycle. However as the space gets more crowded and time passes the flywheels get harder to kickoff (dilution). A lot of players are still in phase 1.
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Solana + Sovereign + Celestia, at Bullet everything is built to scale trading on-chain.
Bullet will be upgrading to @Celestia underneath 🦣 CLOBs on blobs belong with the pioneers of Modular Blockchains. With Celestia, Bullet traders can count on seamless scalability. Why is this partnership bull(et)ish? 👇
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Why am I so damn bull(et)ish on @bulletxyz_? TL;DR on "Solana's Trading Layer" ↓ ➀ WTF is Bullet? Bullet is an application-specific rollup (also referred to as a "network extension") built to solve Solana's 'perps paradox' by bringing a CEX-grade derivatives engine to its
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Its been wild seeing volumes evolve so quickly over the last few days but seeing how liquidity moves is a much clearer signal. HL liquidity still magnitudes thicker than Aster.
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Solana just has more fuel for perps - more users, more capital, more opportunity, more issuance.
Prediction: a @Solana perps products in the next 3-6 months will catch fire and scale revenue faster than anything else to date in the space Products simply grow faster on Solana than anywhere else, once they find an audience
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5 biggest perp DEXs all built their own dedicated networks. Many are complete ecosystems for trading. Solana still the hotbed for users and asset issuance + most scalable decentralized general purpose foundation. Vision for bullet is simple - Solana's dedicated trading layer
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Trading Cup: MAMMOTH Bullet x @Celestia, 22-26th September. Stay tuned for details on prizes.
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The emerging generation of exchanges won’t be CEXs at first. The gtm for DEXs is stronger with incentives + more focussed markets. The tech/performance gap is closing. They also move faster.
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hyperliquid owns the on-chain perp market. ~70% share on paper, 80%+ once you clean out the noise. that dominance is both strength and weakness. strength, because it shows whats possible on-chain. weakness, because one venue cannot define an entire market forever. solana is the
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On-chain always lagged off-chain but for crypto markets we are seeing an evolution and things are starting to flip. While BTC/ETH/SOL are still leading off-chain the new asset launches this cycle have been dominating on-chain. In 2017 I was market making and running arbs on
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Once we see a stablecoin payment network alongside the likes of SWIFT the momentum shifts onchain. These chains won't be general purpose L1s like we see them today, they will be specialised, built for real world scale.
crypto apps often found pmf in grey regulatory areas - partially because crypto onramp ui/ux was worse than web2 ubiquitous stablecoin acceptance and distribution flips this entirely you should expect crypto to become the default way build financial experiences going forward
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the current cohort of traders born in the trenches graduating into perps is a big market, the experience of trading perps will evolve for these users, similar to how aggregators and terminals evolved for these users on spot.
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