Rubyto.fuel

People keep asking where Fuel is heading next. We've spent years building from first principles. But growth doesn't come from performance alone. It comes from proof. Here's how we plan to earn it 👇

Traders usually look at the prize pool because that's what exchanges put front and center. The dozens of other factors that determine if a competition is worth entering? That's what we look at. Here's how the Opportunity Score works. 🧵

@k0k1eth @FranceCryptos France is becoming a dangerous place tbh. 1. You file your taxes and play the compliance game, you get kidnapped. 2. You don’t file your taxes and you get the IRS knocking on your door. Whatever you do, you’re endangering yourself, so the best move is to leave honestly.

I bet this number increased now France has become the most dangerous country in the world for anyone involved or successful in web3 1 attack every 5 days (probably more now) is insane. Data leaks, corruption etc combine everything and you have this.

@miguelweb3 @ChainPatrol has been particularly effective in our case

btw. how do you fix scam replies?

@l2beat Does the order matching happen onchain or is it just the settlement though?

For the first time, all ZK circuits used by Lighter perp DEX L2 were regenerated from sources by L2BEAT! Now you don’t have to trust the Lighter team to perform a permissionless emergency exit. 👇Learn more in the thread👇

@zacglover Onchain Spot trading will be next imo, the onchain experience of it is still mostly bad. This is where we positioned @o2dotapp

the biggest metas of the past year: > perps > stablecoins > prediction markets > crypto cards/neobanks what’s next? 🤔

You don’t measure an exchange just on the fees but also on the spreads and the liquidity around it. While Phoenix has lower fees than HL, the execution costs for the same trade are largely higher on Phoenix. Phoenix still has room to grow and maybe it can become a better exchange over time, but comparing it to HL today doesn’t make sense at all.

A bunch of large Solana accounts have been shilling @PhoenixTrade lately. So I went digging to see what's actually different about it vs Hyperliquid. Background Drift got drained for $285M a few months ago. A lot of that volume migrated over to Hyperliquid, and there's a real void in Solana perps. So the OG Solana crew is pushing Phoenix to take over. Phoenix is a perp DEX built by Ellipsis Labs. And they raised $44M from Paradigm, Electric Capital, and Toly personally The orderbook The piece that caught my eye is how the orderbook works. Phoenix combines a standard FIFO orderbook with something they call Spline Liquidity, where market makers publish a midpoint and a curve and Phoenix turns it into orderbook levels automatically. A quote update costs 600 compute units. On a traditional perp DEX model it costs around 300,000. So MMs can refresh quotes way more often without paying for it, which in theory means tighter spreads at scale. Fees Phoenix is roughly 6x cheaper across the board: • Maker: 0.005% vs 0.03% • Taker: 0.035% vs 0.09% • Referral share: 30% vs 10% If you're shilling a referral link, Phoenix pays 3x more for it. Volume Hyperliquid is way out ahead: Hyperliquid: $170B 30D volume, $8.7B OI Phoenix: ~$20M daily volume, $3.6M OI Under 1% on both. Keep in mind it’s not really a fair comparison as Phoenix is still in beta. Distribution Hyperliquid airdropped 310M HYPE to 94,000 wallets with no vesting and no insiders. Which led to their hardcore community. Phoenix has said there’s no points and no airdrops coming. So I’m not really sure if the cheaper fees will be enough incentives for people to move over. Will test Phoenix once I get access. What do you guys think?

@LeJournalDuCoin ce qu'il devrait réguler, c'est les systèmes de sécurité des bases de données de l'état pour commencer

🚨🇫🇷 « Ne laissons pas s’installer autour des cryptoactifs une forme d’opportunité pour les criminels et terroristes. » ➡️ Emmanuel Macron appelle à renforcer la régulation de secteur crypto afin d’éviter l’émergence d’un nouveau « Far West ».

I wouldn’t tell anyone to invest just because something is built on Fuel. If anything, I think we launched the token and the chain with the wrong assumptions in mind. The ecosystem wasn’t where it needed to be to really prove the thesis, and the economics weren’t strong enough to drive meaningful value back to token holders. That’s the honest answer. So no, I don’t think the answer is buy Fuel because vibes or because the tech sounds good on paper. For me, the real question is whether Fuel can produce apps that create actual activity, liquidity, and demand. That’s where o2 matters. If o2 finds PMF, it can become the liquidity engine Fuel has been missing and bring back credibility to the tech we built. Not just another app in the ecosystem, but a product that brings real trading activity onchain and gives the network something concrete to build around. The product is still early. Liquidity needs to improve, more markets need to come, and there’s still a lot of work before it becomes obvious to everyone. But that’s what I’d be watching. Not the narrative alone. Whether o2 can turn Fuel from interesting infra into a place where real trading happens. You can read this article about the journey of building o2 and where we're going with it. x.com/rishabhkeshan/…

@Rubyto @o2dotapp Tell me why should I invest in Fuel network, 1.Its in sell Only mode 2. Bybit is about to delist due to low liquidity and trading volume 3. NO exchange offer future trading

lfg! This @o2dotapp badge looks just fine

@jon_delorraine for sure

🔴🇫🇷 ALERTE INFO Financement du terrorisme: Macron appelle à réguler les cryptomonnaies pour éviter un nouveau "Far West". (AFP)

@0x33cd @o2dotapp I could get used to it

@Rubyto @o2dotapp Clean

@bballforever_ wemby >>>

DPOY vs. MVP in Game 1 👊 WHAT A BATTLE 😮‍💨🔥

@definikos It’s sad, but unfortunately the audiences on X have also evolved. Most people don’t take the time to read anymore, the attention span is close to zero; so why taking days to write something no one will read?

-Open up my old DeFi Research list on X -All they do know is AI posts What happened?

@MaksimXBT @o2dotapp haters gonna hate, but today at snapshot time, it's the best option.

@Rubyto @o2dotapp still the most cost efficient doesn't mean traders will keep using it if better options emerge

A fresh snapshot at the execution costs on spot ETH markets. The markets are moving but @o2dotapp is not shaking; still the most cost efficient spot DEX.

@Elbrain_dev @o2dotapp tantric massage expert giving financial advice, timeline is healing x.com/Elbrain_dev/st…

@Rubyto @o2dotapp yeah, like in price of $FUEL

$1B in cumulative trading volume on o2.app And this is just the beginning 🏎️

@MaksimXBT Slippage also matters, but it’s dependent on the trade size relative to the available liquidity near the spread.

@Rubyto execution costs are just one part of the equation, what about the slippage

I think we’re slowly witnessing an execution cost migration. First, traders moved from CEXs to DEXs because paying 50-70bps in execution costs for spot trading started becoming hard to justify. So people moved toward products with better execution quality and lower fees/spreads. But now another gap is opening inside DeFi itself. Because there’s a massive difference between trading at 10-30bps and trading at 1-3bps once you trade size consistently. Most traders still don’t pay attention to execution costs enough. But over time, I think they will. Especially once they realize how much of their performance quietly disappears into fees and spreads over time.

@lorykingston Their pnl could be much higher if they did pay attention to this

@Rubyto people focus on PnL but ignore how much gets lost to fees and spreads over time

@jack_mfer making educated choices is how traders grow, not by chasing hype

@Rubyto a lot of people already realized that but there are still many who doesn't. hope that will happen soon

@Nick_Researcher the data speaks for itself, I'm just making it accessible

@Rubyto i do think the same as you ngl