Jascha

MEV is not a bug, it's a structural feature. Block position determines access to shared state, and where that state has economic value, ordering becomes competitive. That is MEV. It can't be designed away - it is baked into how blockchains execute state transitions.

Long $L3. Long tokens.

Big congrats to the @BrahmaFi team! Huge step, from Berlin right into the heart of the prediction market industry! 👇🏽

HIP-3 skeptics say it's the same wallets trading everything. But February on-chain data tells a different story. Half of HIP-3 users (35K wallets) traded HIP-3 exclusively - never touching Hypercore. That's a net-new cohort of new users. 51% of HIP-3 addresses trade only one symbol, suggesting a meaningful portion of traders are focussed on specific assets they care about. 49% trade multiple symbols, averaging 2.46 symbols per wallet. 25K wallets traded SILVER, 19K GOLD and 9.9K wallets traded both tickers, indicating significant cross-trading within commodity-style assets. HIP-3 user activity is not purely speculative wash-across-everything behaviour. There is a diversified trader base, especially among the long tail of single-symbol wallets.

Perps on anything.

Two deployers @tradexyz @Dreamcash control ~85% of all HIP-3 volume. HIP-3 launched only five months ago. Six non-crypto markets are already in Hyperliquid's top 15 by volume. Silver became the 5th largest market on the entire platform. CME took decades and three major exchange acquisitions to build product diversity across multiple asset classes. Its longtail accounts for 25%+ of total ADV, spread across hundreds of contracts with institutional user bases and deep OI. HIP-3 is running the same experiment permissionlessly, in months. Its longtail is already 80+ markets generating <10% of total volume on any given day. This gap is where a huge opportunity lies. It will be driven by a new category of permissionless instruments.

I think the industry is currently going through its healthiest period ever. 9/10 seed stage founders I‘ve spoken to in the last couple of months emphasize how they think their protocols will drive meaningful revenue. Expect many more real businesses to be launched on-chain.

DeFi's Revenue Meta: Fundamentals Matter for Valuations by @felix_macht from @greenfield_cap. Are we leveraging the potential and pricing cash flows over narratives? How quickly is information diffused? Highlighting random forest models of 77 DeFi protocols (2021–2025) to show that the market is maturing. Full video below 👇🧵

@RegenRene @claudedonze @LeBastif 🙏🚀

Super excited to work with @claudedonze @LeBastif @JaschaSamadi & the whole Greenfield gang again 💪 they immediately got what we were trying to do from the first conversations last year and have been such a great partners 💛

Robots coming onchain. 👾

@dmihal @litocoen Native and trustless utilization of BTC in DeFi will matter to institutions though.

@litocoen BTCFi never made sense Crypto-natives are happy to use Ethereum/L2s/Solana with BTC wrappers, and Bitcoin maxis don't want DeFi anyways.

bitcoinfi was a scam all along i faded all of it runes, ordinals, restaking protocols, sidechains you name it never regretted it

LFG🔥

Internet capital markets require confidentiality. Today, we're excited to introduce the development of Confidential SPL Token — a unified standard merging core SPL programs to bring native confidentiality to @solana. The same SPL experience — now encrypted. ↓↓↓

Blink and it’s final: NEAR blocks are now 600ms, with 1.2 second finality. That’s 10x faster finality than Solana. 600x faster than ETH and L2s. Without the need for more expensive hardware. This is a major upgrade that truly sets a new performance standard for blockchains. Now you don’t have to choose between a fast chain and a secure chain: NEAR is both. Fast blocks and fast deterministic finality means virtually no wait time for blocks to become irreversible. Better UX, stronger reliability, and greater confidence for real-world apps & enterprise use cases. Build user experiences where multi-step transactions can finalize in seconds. Reduce wait times and complexity around tx confirmations, reorgs, and network delays. In a Chain-Abstracted world where agentic interfaces will further abstract blockchains away from users, it’s an easy choice of where to build: just build on @NEARProtocol. It’s secure, super-scalable, truly multichain, and really really fast. I’m proud of the Protocol team for continuing to ship the best tech in Web3!

Just to put things into perspective. Dec 12, 2017 +32.6% May 20, 2021 +30.3% May 24, 2021 +30.5% Jan 3, 2021 +25.9% May 8, 2025 +21.9% You can thank me later.

DeFi<>UX. @getrebind

This is a beautiful examples of how protocols and onchain economies continue to grow irrespective of macro markets. Protocols are internet native - in their adoption and growth rates, they are not impacted by global trade and physical supply chains. We continue to mooo. @CoWSwap

Onchain economies will continue to grow. They are not limited by geographical borders, movement of physical goods or tariffs. Markets will start to reflect that in asset prices.

Economic freedom does not exist without privacy.