cryptus

thanks to everyone who came to my house yesterday for immaculate vibes at the milady pool party

@0xLoris @stalequant yep

@stalequant google voice

@0xLoris yea that is a worthy number 1

@0xcryptus Danny’s 4/5 good burger but not top 5 for me Pizza ❤️ Emily still my number 1

dinnerbot diaries - i put up a proper frontend and have shared the app with a couple friends i think if i released it to the public it would catch fire but i would probably get sued by r*sy and op*ntable nevertheless i have been hammering it. some incredible meals in here. starting with: Or'esh (top row) The Corner Store (bottom row)

@0xLoris ID and rating on the burger? looks good

Danny's (meh) Zimmi's

@maybeltr @Delphi_Digital congrats

Update on life: Graduated college yesterday. Last week was my final day at @Delphi_Digital Super thankful to Anil, Kevin, Jason, Ceteris and all of the Hivemind for welcoming me with open arms. I had a blast of a year, learned a ton, wrote some banger reports, and sent lots of stickers in the telegram chats. I believe Delphi is the best of the best, and will continue to glaze them whenever possible. Leaving was a really tough decision, Delphi is an S tier place to work. Just super grateful for it all. As for what's next... more on that soon, got a lot of stuff in the works and excited to share. - doggo out

@nickgiva1 first time seeing your account… this is satire?

My view of the Iran war: it's going great. A few more weeks and the Iranian people will be free of this revolting, theocratic, medieval, backward rabble. And the Iranians will be able to join the rest of the human race in freedom and prosperity.

totally agree. one of the advantages lighter theoretically has over HL is that their zero fee model could allow for better third party margins. if builders don’t have to pass trading fees onto customers, they can offer more competitive products. for this, a fee (even one that is lower than HL) is totally justified

some thoughts hyperliquid has dominated perps and the downfall of competing perp dexs has just fueled the re-rating of the market leader i still think hyperliquid's marginn is too high for there to not be risks there. when margins are that high and take rates are +3bps, there is just a ton of room for undercutting. no team has competed well post tge. lighter is still prolly the best shot today but they have a lot of work to do on their broad based gtm strategy, comms, RWA listings, and getting great distribution via partner attribution (builder codes) a side note on partner attribution: as it reads today, it does not sound like they (lighter) are going to be charging fees on builder codes and i think this is a massive mistake if they do that (maybe i am misreading docs) offering 0bp fees to native users is fine, but giving away api/builder integrations for free means you're subsidizing distribution partners' businesses with your own burn rate which isn't what i would prefer to see i think if you offer zero fees initially, this won't give funds a net new reason to step in to buy (unless distro is god tier) as revenues will not meaningfully change. we could even see lighter take rate go down (increased volume from net new users who use a standard account - win/lose?) but if you run a revshare model with the builder you remove the hurdle rate for them (the builder) while increasing your (the exchange) overall take rate most pro trading terminals wont/cant charge more than 1bp so having a hurdle rate of 2bps makes it impossible to partner and is why i like the revshare model and maybe lighter isn't able to eat into hyperliquid's margin (the pie will continue to grow and both win) but it feels intellectually dishonest (as someone with hype bags and lit bags) to not believe that there is real risk for margin compression on hyperliquid's front. given that builder codes already do a decent % of hl's total volumes - if lighter (or another competitor) can get decent distro and attract users through a revshare model that actually works for partners, it could force hl to lower fees over time. this won't happen overnight but the risk isn't zero. in a perfect world lighter will be able to grow the overall perp pie via their new partner attribution program (a win) and hl margins take years to compress (a win) i hold both hype and lit

Now I see a million I don't get excited

@joeljohn @0xngmi the hedge you describe is a vehicle for insiders to fleece retail with less accountability

@0xcryptus @0xngmi premarket perps worked as intended they repriced l2s where they should be

I think any startup valued over 100 million should have an hip-3 perp so esops, VCs and third party vendors can hedge exposure. On the short run it leads to volatility. On the long run it sets better floor and outcomes for all involved. DMs open if you’re building this

@joeljohn @0xngmi i am not sure how anyone who has seen the impact of premarket perps could think this would lead to better long term outcomes

@0xngmi I’d take that over founder wasting everyone’s time and cashing out in chunks.

تم محو أكثر من 800 مليار دولار من قيمة سوق الأسهم الأميركية بالأمس.

@0xMerp there’s a coin for this

Just started laughing out loud everybody on the plane thinks I’m retarded

my president is black

update?

@bull_genius good trade marmot

oil short has printed, monday futures gap up pico topped it again - closing for now and waiting

what has this world come to where i find myself agreeing with ryan selkis lmao

@aryannstarr Lived in the SF hellscape briefly and they referred to the women there as the “San Francisco 49rs” because they are all 4s who act like 9s Miami Master Race

@GarrettBullish people are also talking about a $50m swap… was it you?

People are talking about $100 oil hitting Asia. CSI 300 since the war started: -0.1% KOSPI: -11% Nikkei: -8% India: -6.5% "China can't survive this" is the laziest narrative right now. Hormuz oil = only 6.6% of China's total energy consumption. SPR: 1.2-1.4B barrels = about 6 months of buffer. EV penetration: >50% of new car sales. Grid oil/gas dependency: 4%.

art of the deal

@bull_genius where did u get that chart btw and what is considered an israeli or US "strike?" i agree there will be lasting reputational and market consequences, not sure how that will shake out but i wouldn't be surprised if the market reaction was delayed but sustained

@0xcryptus reputation damage for usa vs the gulf states (who financed a lot of the AI startups and pumped us stock market for years) is unfixable no way to taco out of this

guide to understand statement coming from iran: is it coming from the government? pezeshkian, foreign minister, deputy foreign minister? into the trash it goes. they decide nothing is it coming from the IRGC? this is the actual signal and actual opinion of the people in charge good cop bad cop. government is the one doing the deescalation signals. irgc always, every day, says there will be no negotiations and they will fight to the end. youre welcome.

@bull_genius totally agree, i think both sides are getting exhausted but the conflict is more "winnable" by iran due to its existential nature trump admin can't survive the politics of the war, bibi can for longer but ultimately will be similar story

@0xcryptus maybe but it seems like trump is the one who would like an exit right now. fog of war. but those who imply iran strikes going down in numbers, must also mention that same is true for us-israeli strikes