purplepill 🌑 d/acc
@purplepill3m
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growth marketing @EclipseFND || prev @blockworksres @0xResearch 道阻且长, 行则将至 DMs open
Joined December 2021
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Incredibly excited to announce that I will be joining
@EclipseFND
as a Growth Marketer.
A quick thread on why
@EclipseFND
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Been trying out
@JupiterExchange
's DCA product lately as I don't want to take that much slippage when entering a position.
good product, super easy to use,
#OPOS
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You know, I'm probably left curving this, but paying ~$36 extra for a $1000 5x leverage long on ETH and in return not get liquidated up till this Friday seems like not a bad deal.
@dopex_io
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a16z has raised $7.6B across its four crypto funds so they probably know a thing or two.
What are some of the hardest crypto problems to solve today according to them?
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Deep dive report into defi options, with protocols such as
@ZetaMarkets
@dopex_io
@lyrafinance
@PremiaFinance
@HegicOptions
, with notable mentions of new kids on the block such as
@Synquote
@aevoxyz
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How do TradFi ppl do this, day in, day out?
I much prefer
Wake up
Shit post
Be a nerd with the team
Stay poor
Write some fun research
Get rugged by Gary
Farm imaginary points
Be a part of the greatest industry on earth
Be degenerate, be crypto
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OpFi. Options Finance, or as
@tztokchad
from
@dopex_io
explains, Defi infrastructure powered by options.
So how is this different from existing option protocols? Read on to find out.
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Don't make me annualize it.
But if you did, it would be:
-$488M in annual transaction revenue (after 15% commitment to Op RPGF)
-$486M in sequencer profit
-~$2.00 added to EPS vs 2023 fiscal year EPS of $0.37
Yea, moon that.
Base did a whopping $1.57M in transaction fees yesterday, paying only $5k to post the data to Ethereum.
The shows 1) DA is not the bottleneck, execution is and 2) the users are here and have a high demand for blockspace. We'll see if this level of activity sustains
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I read the 199 page
@TheBlock__
2023 Digital Asset Outlook so you don't have to. Here are the top 10 takeaways. Great job from
@TheBlockRes
and
@lawmaster
's team. Sprinkled some of my own thoughts in.
[1/17] 2022 has been a crypto year for the history books, and with a team of analysts from around the world, we're proud to release our Digital Asset Outlook Report 2023.
🔖 Download the report and see the thread below for some of the top highlights:
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Some personal news:
Today marks my last day at
@blockworksres
. It's been a wild ride, and it's incredibly bittersweet to walk away from countless memories, immaculate vibes, and invaluable experiences.
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None of you own enough COIN.
Coinbase WaaS + Coinbase Commerce (goodbye predatory 2+% payment transaction fees) + Pay SDK (onramp + in wallet tradfi payments such as debit/bank with built in KYC/compliance) = killer combo for global adoption as new payment/financial rails.
1/ 🎉 Coinbase Wallet as a Service has now launched on mainnet, bringing seamless web3 onboarding to everyone, everywhere!
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Options are some of the most traded derivatives in the world of tradfi, but bringing them into DeFi has been harder than expected.
- DeFi Options Vault AMMs have their Uni V3 Moment in 2023.
- The best options protocol's spreads become better than Deribit 💸.
Find out how 🧵
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Quite the milestone. Arbitrum processing more transactions than Ethereum today.
The future is L2.
@blockworksres
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The challenges of onboarding RWA into DeFi.
The image below is the 6s Capital Trust Structure. They currently have $14M worth of loans with Maker.
If you look at the Broker Dealer rectangle, you'll see a familiar name. Genesis, 2023 Chapter 11 favourites.
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Did some backtests for the Uni V3 ETH <> USDC 5bps pool with
@traderjoe_xyz
's volatility fee.
Over the past 6 months, LPs made $39.5M in fees. If a volatility fee was introduced, LPs would have made $107M. 🤯
@UniswapFND
plz fund me through a grant for more computing power.
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Little weekend side project. Chat with a telegram bot that reads all my PDFs in a google drive.
Say hello to my new crypto research assistant.
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I listened to Coinbase's Q1 23 earnings call so you don't have to.
Before we get into the spicy and more interesting Q&A section, some quick numbers and information.
TLDR: Brian is bald, in Brian we trust. But we can trust him a little more after this thread.
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@TrustlessState
They sell new shares, diluting current shareholders, and use proceeds to bid.
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Bullish longer time to finality, makes validators bleed ETH. Send it.
Guys, if ETH goes down, validators get slashed, and then that ETH gets burnt.
ETH works. Ultrasound money.
ETH doesn't work. Ultrasound money.
GENIUS
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I just realized that
@DefiLlama
is probably going to be the super app of the next bull run.
Access the best of everything DeFi without ever leaving the DeFiLlama UI.
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How does
@InfPools
enable unlimited leverage for any asset without liquidation risk?
Find out 👇
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errr maybe not the best to shit on your investor when your token looks like this and has a $3.5M mcap/$17.8M FDV
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We recorded an episode with
@EvanWeb3
and
@EmanAbio
talking about Sui.
Goes out next week.
You're not ready for the incredible tech.
Wow...
~72% of Wormhole volume originating from Ethereum has traveled to
@SuiNetwork
over the past 7 days
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Today is the 1 year anniversary of
@blockworksres
It is an absolute honor to wake up every morning and build the best research product with the most chad research team out there.
@EffortCapital
@MattFiebach
@0xpibblez
@smyyguy
@swmartin19
@WestieCapital
Gm – Building Season Is Here!
We're excited to announce Blockworks Research: crypto’s most powerful research platform.
🧵
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Today I am super pumped to announce I am joining the
@blockworksres
team. No place I'd rather be during the bear market.
Excited to welcome two new gigabrains to our research team today.
Show
@EffortCapital
and
@purplepill3m
some love!
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The fact that $50M has bridged into BASE which as of now is a one-way bridge shows you how much people are here to gamble and how little degens care about sequencer liveness or forced inclusion or escape hatches.
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Prediction: Stripe supports any chain that is supported by CCTP within a year.
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It's honestly hilarious seeing all these ETH CC takeaways from VCs and it's like they all finally realised they over-indexed for infra lol.
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We saved the Arbitrum DAO from the fact that the Arbitrum Foundation would have been able to spend 750M ARB tokens from the DAO treasury with zero transparency.
If this isn't a demonstration of our unwavering commitment to the DAO, idk what is.
Blockworks Research is voting AGAINST AIP-1: Arbitrum Improvement Proposal Framework
We are committed to improving DAO governance and transparency, and this proposal represents a step backwards in its current state. 👇
@arbitrum
@OffchainLabs
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Made notes while learning about
@fuellabs_
on
@0xResearch
with
@jadler0
.
Basically just write down and reread every word you hear on 0x cause it's all insane knowledge.
Almost told my gf my state growth was good lol.
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.
@0xMert_
we love you but can we get a proper webcam with a non-jank camera angle here lol
Seeing your screen feels weird
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We have decided to vote NO on Arbitrum's first governance proposal.
Without further clarity on the 750M ARB and how it is controlled, we cannot vote in favor.
Too often we have seen funds go into a black box of expenses. It is time to make DAO transparency a priority.
Blockworks Research is voting AGAINST AIP-1: Arbitrum Improvement Proposal Framework
We are committed to improving DAO governance and transparency, and this proposal represents a step backwards in its current state. 👇
@arbitrum
@OffchainLabs
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As for what's next for me?
Stay tuned - we going sicko mode.
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@circle
we do a little fractional reserve banking, we do a little undercollateralized stablecoin
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.
@Permissionless
takeaways
-Many more web2/tradfi institutions that are actively participating than you think
-Infrastructure is still not there yet
-So so bullish DeFi
-Solana
-Long Blockworks Research
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To the fellas
@0x___Brick
@0xpibblez
@EffortCapital
@MattFiebach
@smyyguy
@swmartin19
@tripleboccaccio
@WestieCapital
, it's been real.
Will deeply miss the slack shit talking, the morning calls, the intellectual debates, and chilling together at conferences.
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GLP Rewards Smoothing.
Which would you rather have?
1. Volatile but higher rewards 🚀
2. More stable but lower rewards 🧱
Seems like the GMX community wants a little bit of both.
Here's what went down in the latest governance proposal.
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God damn that is so sad
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Is this the first example of an L1 blockchain transitioning to an Ethereum L2?
Should be interesting to watch how they manage this transition and how their decentralized sequencer actually works.
another one joins the OP stack
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@GRITCULT
If you have some time, give this legendary speech a listen. One of the greatest politicians to have ever graced this earth in the modern world.
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In all seriousness,
@traderjoe_xyz
's volatility fee is a great mechanism that mimics the increased spread of a CLOB during periods of high volatility.
I fully expect most DEXs to copy this before year-end. Would guess Uni V4 includes a volatility fee.
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Wrote a report on
@lyrafinance
for
@blockworksres
.
Super exciting to watch options protocols develop more capitally efficient LP mechanisms to provide a superior trading experience.
Not an easy task considering all the intricacies of options pricing.
Want to trade options with tight spreads?
Against a market-making vault with cash-collateralization?
That increases fees for liquidity providers?
On an options protocol that can integrate with any perps exchange on EVM chains?
@purplepill3m
explains Lyra's Newport upgrade 🧵
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Weird, I don't see any Blockworks Research analysts on this list from Messari's crypto theses.
I'll fix it for you.
Top 10 people to watch in 2024
1.
@blockworksres
2.
@0x___Brick
3.
@tripleboccaccio
4.
@smyyguy
5.
@EffortCapital
6.
@MattFiebach
7.
@swmartin19
8.
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My CO from the army just passed away at 43 from a heart attack.
what the fuck
RIP CO sir. Swift and precise, 24.
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China's move to control the blockchain, and reading beyond the lines.
Here's what may happen, and why it extends beyond crypto. 🧵
China's move isn't to control the blockchain; it's to control the financial and monetary rails of the future.
And the US is inching closer to getting checkmated.
@purplepill3m
wrote a newsletter about it.
Sub before 5 PM ET so it's sent to your inbox:
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@bgilliam1982
@swmartin19
@CoinbaseWallet
@arbitrum
@Optimism
woah Byron, you can't just say non-ethereum users are poor like that
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Unfollowing anyone that said Michael Burry bought $1.6B in puts today.
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You believe no sleep season is coming.
I will get 8 hours of healthy sleep a day and outperform by not being a dopamine addicted trigger happy monkey.
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Instadapp's multisig wallet with account abstraction really feels underrated.
And pioneering a revenue model that others will likely follow in the future.
Just shipped a massive update!
Easily create and manage multiple Multisig wallets synchronized across 11+ chains with unmatched simplicity. Managing Multisig has never been smoother.
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AHHH I'm talkinggg
Ren Yu Kong
@purplepill3m
, Research Analyst at
@blockworksres
will be speaking on "The Tradeoffs Between Onchain and Offchain Derivatives"
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Repeat after me.
@smyyguy
is THE MAN.
@smyyguy
is THE MAN.
@smyyguy
is THE FUCKING MAN.
Who else can find insane alpha like this.
The wildest story of this year so far. More to come from
@blockworksres
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Wrote a thread/report on
@traderjoe_xyz
's new Liquidity Book. Good timing considering they just launched on Arbitrum and are also expanding to BNB Chain. Some nice backtests in there, the summary is variable fee good.
@cryptofishx
@DavideFi_
@MountainFarmer_
@0xmurloc
@0xLevi_
The next step in AMMs' evolution.
@traderjoe_xyz
promises to shake things up in the AMMs' world with its Liquidity Book 💧📖.
@purplepill3m
explains how.
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You know that degen chasing yield thing that we all did when we put our money into Anchor for 20%?
Turns out banks chase yield too! They kinda have to, their profits depend on it.
But Silicon Valley Bank were like really, really, degen.
How do they compare to other banks? 🧵👇
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If you think DeFi participants are efficient at pricing risk, think again.
@y2kfinance
Top: USDT $0.9850 - 4.07% return
Bottom: USDT $0.9910 - 4.99% return
22% extra return for providing depeg insurance for a strike that is much more likely to hit? Seems a little low.
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The number of emotions I have experienced in the past 2 hours trumps all of my life experiences.
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Only during ETH Denver does someone sit next to you at the airport on the way to Denver and this mf just casually working on account abstraction lol.
Denver, here I come.
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If only these sell side equity analysts were aping ordinals and priced in this increased miner revenue in their models.
If only there was a way to publicly view this information, a decentralized ledger perhaps. Lets name it, a blockchain!
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Gf said I am an undervalued stock option.
That she has to buy and hold.
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Going to touch grass for two weeks. The last time I went on holiday, FTX happened. Glhf.
Also doing 👇, so if I die, please donate everything I have to charity.
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With the addition of
@0x___Brick
, we will upgrade from the best research team to the bestest research team.
More frens, more alpha.
Pumped for this man to join with his wealth of experience.
@blockworksres
onwards and upwards
Stoked to announce that I’ll be joining
@blockworksres
next week!
I’m beyond grateful to the whole team for the opportunity
A huge shoutout to
@swmartin19
who took a chance on me and without whom this wouldn’t have been possible
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ETH Denver Takeaways
TLDR: I love this space. This is the future. Sorry mum.
1.) Builders gonna build, no one cares about bear market. Including
@blockworksres
. Hard to see this industry dying if this is what it's like in a bear.
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Maker's new 3.33% DAI Savings Rate looking a little light compared to this lol.
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We literally cannot spoon feed y'all any more alpha than we already are. Like plz. Just subscribe
Shoutout to
@swmartin19
for absolutely nailing this one.
The VRTX LBA commenced earlier today and will conclude on November 20th.
Based on the 30D trailing fee revenue, up to 50% VRTX staking revenue share, and genesis supply dynamics, we see upside for the token below certain valuation thresholds.
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Proud to announce Blockworks Analytics.
@smyyguy
and
@WestieCapital
have been grinding on this and I think it's safe to say Blockworks Research is THE best research platform out there today.
DMs open if you want to learn more
Introducing Blockworks Analytics
A singular destination for real-time data-powered insights.
Want reliable, transparent, and impactful protocol statistics to make better investment decisions?
This is it 👇
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The question is, how much does Kyle Samani get
1. Introducing $JTO: A New Era of Community-Led Governance.
The Jito Foundation is thrilled to unveil the $JTO governance token to enable community-driven leadership.
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Galaxy Digital posted a net income of $134M for Q1 2023.
They trade on public markets at a ~$1.4B market cap.
Between trading/asset management/investment banking/mining, kinda feels undervalued.
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This is exactly how thicc the Eclipse sequencer will be
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I am convinced if we made Taylor Swift concert tickets a security and only available to accredited investors, an army of Gen Z girls would successfully take Gary Gensler down.
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I will send this to my mum every month when she asks me how my company is doing. She thinks every crypto company is on the brink of failure all the time.
The world ain't ready for everything that we're about to ship at
@blockworksres
NEWS: We raised $12M at a $135M valuation
This allows us to double-down on our mission to bring better information to crypto.
Big thanks to everyone who has supported us along the way...
We couldn’t have done this without you 💜
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How many levels of desperation deep is this?
Algorand is becoming the first L1 blockchain to adopt Python as its canonical language
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Made notes while learning about
@eigenlayer
on
@0xResearch
hosted by
@smyyguy
/
@swmartin19
with
@sreeramkannan
. When I say made notes, I mean writing down every word that came out of Sreeram's mouth cause he is gigabrain
Many grammar/spelling mistakes. Please forgive me.
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We are so back.
Permissionless III finna be a movie.
INTRODUCING: Permissionless III
The event for crypto natives.
October 9-11 | Salt Lake City, Utah 🏜️🌵
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Solana is printing $13M a day in SOL to incentivise validators. The network loses $100M every month.😭
What gives?
Sure, Solana issuance is pretty disgusting rn, but look at vote tx fees and normal tx fees from a recent day. It's very possible that 10x's post firedancer along
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Coinbase's derivatives exchange
"We now have over 50 institutions onboarded and have traded $5.5 billion in notional contract volume in the first seven weeks of trading."
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Have your convictions, but not your biases.
@0xMert_
at
@heliuslabs
building out the future of Solana with tools like these. Solana has genuinely good tech, for consumers, and for developers.
Fetching all the NFTs an address owns on Solana is generally slow and unreliable
with the new Digital Asset Standard (DAS) API, you can now get ALL nfts — compressed and regular — in a single, blazing-fast RPC call!
only possible on Solana
check it out:
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The best financial decision you can make is to rotate a bit of your $PEPE profits into a Blockworks Research subscription.
PEPE won't last forever, Blockworks Research's alpha will.
We are excited to launch our new governance aggregator and insight tool, GovHub!
You may have noticed us getting more active in governance:
- Launching GrantFarm
- Becoming Delegates
- Launching Govhub
But why?
We believe DAOs are the future of human coordination 🧵
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Dad really making me tear up on a Monday night like that. Tell your parents I love you.
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AHHH WE'RE LAUNCHING.
Governance, insights, alpha. You want it. You get it.
1/ Go time 🚀
Introducing GovHub: crypto's most powerful governance platform
Here's what you need to know 🧵
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Let's play a game of how much of this TVL will not withdraw in time for March 15 and will get completely rekt as individuals sell into it and drain the pool.
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Might mess around and launch crypto’s most powerful governance platform tomorrow
Might mess around and launch crypto’s most powerful governance platform tomorrow
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Ethereum USDC: $21.8B
Solana USDC: $586M
Ethereum USDC transfer volume: $6.55B
Solana USDC transfer volume: $4.45B
Pretty staggering amounts of stablecoin activity on Solana.
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Was calling my dad and out of nowhere he said "I realized I probably have 25 years left to live, and maybe 15 more years to travel the world. I'm scared I don't have enough time." and god damn did that hit hard.
Tell your parents you love them
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people laughing but these are the type of use-cases that actually provide value to society and will slowly cement blockchain as the financial rails for the future.
🚨Homebase made its first rental payment distribution yesterday 🚨
Owners of 'The Cardinal' received rent for the month of April
💸 USDC was airdropped into their wallet
Thank you to
@SquadsProtocol
,
@circle
,
@solana
Welcome to Real Estate 3.0
More 🏠⛓️ soon 😎
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If you think getting a $1M deposit is institutional capital, it's not
If you think you can build a delta neutral strat that can take institutional capital tdy, you're dreaming
If you tell me you have no AUM subscription limit, you will find out your strategy has a capacity limit
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4. Compliant Programmable Privacy
If DeFi is ever to gain mass adoption, there'll likely need to be some form of KYC/compliance.
How do we eliminate legal/regulatory risks while maintaining privacy and trustlessness?
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