Crispy_duck

Agents++ @abaxx_labs

Thank you to @straitsfinancia for hosting us at the LME HK dinner last week. They are clearing members of @abaxx_exchange Hong Kong is clearly evolving as a China focused financial centre and an international gateway which will bring many trading opportunities and regional price discovery to the market. The development of Hong Kong as a Gold Hub compliments well with the Singapore kilobar market development. I also look forward to the new @abaxx_exchange physically delivered 1000oz .9999 Silver contract launching soon which should create some excellent arbitrage and risk management connectivity between the regions. It’s all about regional connectivity and basis risk management that will grow the next generation of commodity liquidity and flow. @abaxx_spot @abaxx_tech @abaxx_labs @JoshCrumb

Not yet, but the reference libraries will be some of the next releases from Labs (runtime implementation, important knowledge workflow integrations etc — see imbedded tweet). What’s important though, is that everything about work (and software development) has changed. Part of our @abaxx_labs approach and strategy is not just what they release, but Ian is personally building and experimenting with the next generation staffing and management of an organization; a recursive organizational structure between humans and agents—where agents work for human orchestrations, and then humans orchestrate the next level ticketing coming off the agents (only possible in a highly regulated industry with tools like Agents++ btw). Two years ago Ian mapped out a 100+ person organization for how the ID++ network business model will work at scale. That’s now been reduced by at least 2/3 in human head count and probably 80% in timeline to get there. It’s why I’m so darned excited by what Ian is doing, it will be a template and sandbox for how we run everything else at Abaxx as the model and tools mature; blitzscaling with little additional operational and software development headcount. […oh yeah, and our only Exchange and Clearinghouse competitors are 100x our size (a school bus trying to turn the bus and compete with our Baja car on our generation’s hightech race course), and they have nothing like Agents++ or Abaxx Labs to sandbox and roll out across the broader org to constantly disrupt and reinvent themselves (good luck with entrenched managers milking monopolistic cash flows with massive disincentives to change). Our ‘Back to the Futures’ thesis in action: the mostly forgotten d school art of building physical futures, but on next gen tech with next gen tech organizational speed and agility] x.com/joshcrumb/stat…

Yes, what we’ve developed is basically unheard of in global commodities. Not look likes or indexes, not a derivative on a derivative, but new benchmarks across the board, developed and through a regulator from scratch. ..and this is 16 on its way to 100 just in the first wave of products and onboarding. Never been done before: new benchmarks, new clearinghouse, new tech all from greenfield development. One of the major Chinese exchanges was congratulating us just this week on what has never been done at this pace (and wants to co-develop products for each side of the financial firewall). Still early innings #29ers $ABXX #NowWeScale

The “market” was wrong this time last year when our exchange was forward-valued at ‘less than $0’ (could have sold licences and infra for more than our April ‘25 market cap). Three transformational tech releases over the last 5 business days, stock is down on low liquidity, and our tech is still valued at ‘less than zero’ (exchange alone is only valued at ~20% of success as per ATB — with no current competitors in the markets we’re listing, onboarding and growing). There is no such thing as efficient markets, just charts and liquidity and herd mentality, especially in small cap (while our team punches globally at a large cap scale). The biggest thing I got wrong was that the Canadian market, that can NAV-value drill holes ten years from revenue, can’t seem to value the best team in global commodity markets building obviously needed commodity markets, a highly profitable tried and true business (but this is why we entrepreneur, because we already know the market is wrong, and it’s our own personal arbitrage to work for and collect). Anyway, I know for a fact that there are groups that will value our 1 of 1 tech strategy privately, but public markets I guess (always) need more. Well we’ll continue to deliver with nobody paying for it in the pubco, for now, just like we did with the exchange for multiple years (and like the #29ers who did the work over the years, there are future-subsidized shares being sold right now for the bidding if you do the work, with 0-valued tech imo). But we will unlock and realize this value for shareholders as well, just like what’s happening with the exchange, one way or another. You should know by now that this owner-operator team ain’t quitting ‘till the vision is secured. #29ers $ABXX 🆔++

Navigating a fragmented LNG landscape requires a unified view. Trayport streamlines your access to Henry Hub, TTF, JKM, and the USGC FOB benchmark through a single integration point for global gas, power, and commodity markets. 📖Read: hubs.li/Q04fG76R0 #LNG #NaturalGas

Abaxx Signs MoU to Support Development of Cambodian National Futures Exchange The agreement establishes a framework for cooperation on market infrastructure development, including the use of Abaxx’s MarketOS™ technology. Read Release investors.abaxx.tech/press-releases…

Been having some very interesting institutional investor meetings after this report — as has the analyst, from my understanding — especially after calling out that $2,500 per share blue sky number (kudos to the analyst on that btw, having been in a similar seat I know it takes guts to put that in writing). Given the conversations, I’ll spend more time on valuation and the way we think about growth and ‘spendvesting’ allocations on the next call. But a few thoughts on the subject (and please, this is ALL subject to risk causations, forward looking statements, analyst disclosures, etc….we are world-builders-or-bust from the beginning, allocate appropriately, big problems trying to solve, big risk/big potential reward, baja racer emotions till we cross the line, etc): 1) Start with the core signal, there are tons of moving parts, but focus on three basic questions as a foundation: a) Is the business model proven and sound, does management have the experience to execute: obvious yes (and I’ll add that we put together the best global team in commodity market building, we ARE the global-A team even compared to companies 50-100x bigger that we will compete with imo) b) Is Singapore an important emerging global gold hub (especially given geopolitics across rivals NY, Shanghai, Dubai, etc)? Is Abaxx the only futures market, spot market, and most advanced HQLA tech vision? Yup. Ours to lose. Next question. c) Now to the stage-1 flagship, is there an LNG price/benchmark everyone trades on as a standard, or is it up for grabs and what are the alternatives to Abaxx now that its already showing liquidity? …no agreed price, and HHub is not LNG, TTF is not LNG, and billions of people are not going to price their core energy on a reporter surgery of limited information participation…and China doesn’t recognize the ‘Japan Korea’ survey, they are very astute about building new commodity markets — unlike the overly bureaucratic and overly financialized “west” IMO (Abaxx now has much greater than 50% of “winning this estimated $5B asset” imo, and we hope to put the nails in that coffee within the next 12mo). There, forward risk-adjusted valuation justified. Done. Nothing is certain. You want certainty and lower mark to market draw down risk while you manage OPM, buy a bond or an index. You want risk adjusted return, a team hell bent on providing solutions to some of the world biggest challenges, with the best teams to do so, join us. We were “too expensive” for a lot of the street as an “idea” at ~$200mm pre rev (~$12), even though we could have sold our infra for more than that, it was the stupidest asymmetric option in the market and I wasn’t afraid to say it. For those who think $50/$60 is too expensive until we fully prove out benchmark status, just test out how little is for sale between $60 and that $100 price target, because the real money (large and small) that owns this asymmetric option are comfortable with any [hedge-fund driven] draw downs and IMO not willing to sell (just on business model stage 1, and i don’t intend to give up or lose on the larger business model stage 2 that I founded this company on either). $ABXX #29ers #NowWeScale #LetsGetPhysical #MayDay

One small step for 🆔++, one giant leap for agent kind. 🌖 This is the start, a first library release (more to come) of what could be the biggest moon shot within @abaxx_tech. I founded Abaxx ~eight years ago with digital identity at the core, the long horizon Thing that every other Thing gets us to. Turns out our architectural vision for humans was even more important for agents (the ones acting for humans, with protecting your data with accountability, skin in the game). Digital Identity — 🔑 to unlocking the next stage of AI (a16z) Digital Identity — 🔑 to unlocking real time token finance (Blackrock) Sovereign Identity — 🔑 to reversing the enshitification of the internet for the next generation (Abaxx) Now let’s put these libraries on a Tilt-A-Whirl. #29ers Please Retweet far and wide! #MayDay #WorldBuildersOrBust $ABXX