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woojin
344 posts
Primitive Ventures@primitivecrypto
Thesis led by @0XTony0X Excited to support Tenbin @tenbinlabs @ballsyalchemist @hocryptogu @jake_lang Tenbin is the first tokenization platform designed to solve the structural liquidity trap of existing RWAs by bridging CME-grade depth directly on-chain. The Macro Driver As stablecoin payments onboard the next wave of institutional and retail capital, the demand for diverse RWA exposure is reaching a tipping point. Commodities and FX represent a massive, untapped TAM—the inevitable next step for a maturing on-chain economy. The Friction in Status Quo Current commodity tokens like PAXG and XAUT are bogged down by legacy friction. With 25bps mint/redemption fees and fragmented liquidity, they often fall into "bootstrapping" death spirals, making efficient price discovery nearly impossible for high-volume traders. The Tenbin Model Tenbin strips away this complexity to offer a leaner, more efficient primitive: - Zero Friction: 0% mint and redemption fees, removing the "liquidity tax" of incumbents. - RFQ-First: Direct RFQ integration bypasses bootstrapping hurdles for instant price discovery. - Infinite Scalability: A modular approach that makes expanding into new Commodities or FX as simple as managing CME exposure. - Maximum Efficiency: 1:1 capital-efficient collateralization with the future potential for yield-bearing FX and Gold. Tenbin is architecting a unified financial stack where the world’s most liquid markets finally move at the speed of DeFi.
ZXX
There was a time when the leaderboard was reset
I was in 2nd place before, and I was in 1st place this time
The reason why I bought it using @01Exchange is that ui is cool and feels good to use
I found Hyper Liquid and Lighter and Extended early on, and in my opinion, 01 is a good exchange
The common feature is that it's worth trading
in any case
@xitdao
EWL@jeg6322
right now, best point farming plays by sector 1. perps: @01Exchange > probably the best point structure for early users > three phase fixed point setup: private mainnet (invite only, 10 weeks, 3.75m), public alpha (8 weeks, 2.375m), public beta (12 weeks, 1.875m) > ux keeps improving and there are a lot of opportunities for perp natives to make real pnl (my bro @burning_20s_x hit top 1 with $45k pnl) > once this gets real attention in a few weeks or months, point cost will likely be 5-10x higher than now > i have a few invites, dm only if you will actually use it 2. equity perps: @QFEX > equity perps have massive upside as a category > qfex looks solid among them (good team good backers and rumors of early user rewards) > early access and 10% fee discount: link in comments 3. prediction market: @opinionlabsxyz > honestly not the best time to farm, but also hard to find anything better > me and xitdao friends joined in week one and farmed nk points with basically no cost (5-6 figures based on otc) > after opinion tge, people will probably fomo into other prediction markets like predictfun and burn capital farming > but that does not look like a good play > early participation in fixed point systems is always strong ev+ (same reason why 01xyz stands out)
English
Spot FX is difficult.
Compliance, liquidity with USDC/T and major pairs, on/off-ramp liquidity, liquidity during distressed event like 10/10 etc.
Other than spot, another way to bring FX on-chain is to build robust rates market
> USDC/T currently have the best off-ramp liquidity in any country to any currency
> Let's leverage that, but allow users to synthetically hold other currencies
> Users can keep holding their USDC/T token, but completely hedge out their exposure to USD and denominate their account their preferred currency
> rates market FX is more capital efficient and compliance-light. you also don't need the spot of FX on-chain - you only need an oracle price.
> tokenized FX could work, but there's many early stage liquidity bootstrapping and pegging costs. I think it will happen later, especially for the long-tails. (eg. PAXG depegged 20% on 10/10 due to liquidity shortage. this won't happen on oracle-based rates market like Gold pair on @OstiumLabs)
> similar to how equity perps is larger than tokenized equity, i think this will happen to FX as well.
> @SupernovaLabs_, we are enabling any neobank accounts and wallets to be a multi-currencies account.
will share more in the coming weeks!
Stepan | squads.xyz@SimkinStepan
Yes. This is key for stablecoin financial services to thrive. But it needs to be onchain. Onchain FX means more market makers competing, which drives efficiency and better rates + allows any neobank developer to plug in. The prerequisites for this: - more currencies tokenized with trust profiles similar to the major USD stablecoins today - enough onchain liquidity and DeFi support for those pairs. We're already doing onchain FX with USD/EUR via Jupiter on Altitude and the rates are at least comparable (often better) than what you'd get from Revolut or Airwallex. Expanding to more currencies is a massive challenge though. The alternative right now is using orchestrators who convert USD stablecoins into fiat in different currencies. But in most cases those rates are actually worse than traditional FX.
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