Cryptrus

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Cryptrus

Cryptrus

@cryptrus

2-digit IQ.

Katılım Şubat 2021
1.8K Takip Edilen22.7K Takipçiler
Artem Oak
Artem Oak@Artem_Oak·
I asked @EvgenyGaevoy what Research in crypto lacked. He said "criticism". We listened. While we are extremely bullish on Hyperliquid and its future, it is also important to call out things that could be done differently. $USDH is one of these. Full opinion below
OAK Research@OAK_Res

Yes, USDC becoming the main quote asset is extremely bullish for Hyperliquid. This announcement brings $160M additional buyback pressure for $HYPE. But let’s be honest, there are still a lot of uncomfortable questions around how the whole $USDH story played out. The original thesis behind USDH was to build a Hyperliquid-native stablecoin capable of capturing the yield generated by idle USDC and redirecting that value back to the ecosystem. Now, less than a year later, Coinbase and Circle are effectively taking over after Native Markets failed to make USDH a real alternative to USDC. The questionable part is that Native Markets originally secured USDH issuance rights by pushing the “Hyperliquid-aligned” narrative extremely hard, while also benefiting from very strong ecosystem connections. At the time, we already argued that the team did not appear to have the operational capabilities required to run a stablecoin at this scale. The result speaks for itself: $USDH barely crossed $100M in supply while USDC remained overwhelmingly dominant across Hyperliquid. Now Native Markets is selling the USDH-related rights to Coinbase as if this were a regular private asset even though most of the project’s value came directly from the mandate and legitimacy granted by the Hyperliquid community. Meanwhile, a large number of HyperEVM teams spent meaningful resources, accepted worse liquidity, lower usage and degraded UX just to integrate USDH and stay “aligned” with the ecosystem. Another question remains unanswered: what happened to the 50% of USDH revenues that were supposed to fund adoption and ecosystem growth? How will those funds now be used if USDH is effectively sunset? To be clear, the final economic outcome for Hyperliquid is objectively excellent. Hyperliquid basically managed to force Circle and Coinbase into sharing 90% of USDC reserve revenues with the protocol and will now be getting 90% of revenue from a $5B asset instead of 50% from a $100M asset. But it’s hard not to feel like this entire ending was somewhat predictable from day one.

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Void of Hype
Void of Hype@Void_of_Hype·
@saylor Buying back 2029 debt at a 10% discount using Strc 12% apr borrow but telling folks that btc compounds at 30% arr
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Cryptrus
Cryptrus@cryptrus·
Its time to send it and make this space retarded again
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that1618guy
that1618guy@that1618guy·
@LightsSpace Very strong. We entered this current regime with the strongest stats I’ve seen so far in 5+ years worth of data
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that1618guy
that1618guy@that1618guy·
this $BTC move is VERY healthy panicans, i will let you know when its not so you can slam the sell button. feel free to get liquidated in the meantime tho its j not time yet
that1618guy tweet media
that1618guy@that1618guy

Laid everything out for you on why I continue remaining bullish on $BTC from ~$68k Spend 2 minutes on the below thread to understand why shorting then (and now) isn’t the best idea You’re literally going up against the diamond-est of hands lmao READ THE THREAD

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Cryptrus
Cryptrus@cryptrus·
@cobie looks like someone's feeling happy and optimistic about the future
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Cobie
Cobie@cobie·
:)
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Cryptrus
Cryptrus@cryptrus·
@Artem_Oak give us converge with ena as the gas token and i'm very happy, even without the fee switch
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Cryptrus
Cryptrus@cryptrus·
@Artem_Oak yeahhh i know, with this fee switch we make USDe less attractive which then makes ENA less attractive but holding that bag is painful. (let's not even talk about the based or echelon airdrops )
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*Walter Bloomberg
*Walter Bloomberg@DeItaone·
WHITE HOUSE EXPLORES 250 PARDONS TO MARK AMERICA'S 250TH BIRTHDAY
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Cryptrus retweetledi
Ramzy
Ramzy@ramzyyalii·
You thought it was over? No sir Ethena is here to stay and is finally at the scale our users have demanded for so long Congrats to @kamino and @SentoraHQ Excited to see what these partnerships hold for ecosystem and what the rest of our teams build ontop of this liquidity All roads lead to @solana
Ethena@ethena

A dedicated Ethena market is now live on @Kamino, with an accompanying vault in partnership with @SentoraHQ. Together with integration with other top Solana apps, USDe denominated activity is now coming to @Solana DeFi at scale for the first time.

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Cryptrus
Cryptrus@cryptrus·
@zackvoell With that huge turd in the middle, it doesnt look like an european dish. More like Indian
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Seraphim
Seraphim@MacroMate8·
today is a big day for solana defi: ethena is deploying >700m USDG directly into solana this marks one of the 1st balance sheet deployments from a top stablecoin issuer into the solana lending complex now watch the solana stablecoin tvl go up as users loop USDe/USDG in size
Ethena@ethena

Jupiter Lend has grown into one of the largest lending venues on Solana within months of launch. Today, Ethena joins the platform with its own dedicated market. The Ethena market on @JupiterExchange is fully isolated from the existing Jupiter Lend deployment, and curated by @Bitwise who brings onchain asset management and risk oversight to support institutional participation in this Ethena market.

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