Mainview Intern

full timelapse of how awesome the editor’s looking now coming tomorrow. for now, here’s a quick peek at the level we’re putting together for the demo

@DeFi_Made_Here If you don’t pay dividends, it doesn’t mean you don’t generate revenue For lending tvl is bs metric as its growing doesn’t mean your net interest income grows For trading liquidity used to be the operational metric to watch before univ3, you can see it in the table

Interestingly enough, DEXes have much higher valuations than Lendings despite having much less TVL

@sonyasunkim @artemis__xyz * it only works in the regime when the fees generated and broader fundamentals are interlinked with the price, which is not the case for the crypto atm. Here it is just simple that inflation vs. inflows, that's it to have inflows = f(fundamentals incl. rev growth) takes time

The problem is called sales per share growth. It's as old as equity investing. All things equal, protocol fee growth should at least keep up with circulating supply growth. If not, each "share" sees value dilution. Data cred to @artemis__xyz ! Encouraging to see market as a whole is beginning to be more efficient: - The 1Y average price return of the cohort that had greater token dilution vs. fee growth returned 16%. - The 1Y average price return of the cohort that had greater fee growth vs. token dilution returned 243%. Be careful with short-term narratives, overly generous points/airdrop programs and unnatural token locks, as they are more likely than not, long-term traps.

@0xsudogm @_kaitoai How does it feel to shill a saas that you invested 5.3 mil?:)) kek and comments are from: founder kaito, colleague at dragonfly, kaito official and (?) angel in kaito no hate, kaito is gud, just funny

Reading @_kaitoai 's Discovery feed is like eating an Egg White Avocado Toast for breakfast Simple, nutritious, and easy to digest Never go back to aimlessly scrolling down CT again anon

@calilyliu @joemccann If you can sell the meme you can sell anything with fundamentals ofc

Some of the memecoin founders I’ve met are seriously competent builders. It’s easy to dismiss, because these builders aren’t building “fundamental value” in the price/earnings sense. What they are building is community value; and since crypto is financialized community, they’re essentially building primitives for an economy.

@VinnyLingham @ramahluwalia coinshares.com/research/2024-… from @CoinSharesCo

@ramahluwalia Which miner has the highest cost per bitcoin right now?

Bitcoin Miners: There is $2 Bn in short bets on miners as the bitcoin halving approaches (see table) The revenue of miners should decline by half on average as the hash rate req’d to mine doubles I am simplifying a bit since some miners have better compute and legacy tech will be crowded out And increases in the price of bitcoin offsets declines in block rewards It’s Hunger Games for Bitcoin miners Watching what happens to these miners during earnings season is as good as March Madness We have no position anywhere here, just rubber necking

@kelxyz_ @blknoiz06 valuation or pricing after all bro youtu.be/jYpduAPfLR0?si…

@blknoiz06 ore

the attention - valuation gap on this coin is gigantic

@pablo_veyrat @ethena making it tokenized thus publicly available also enhances the health of the futures market, which has been long-skewed, making leverage expensive. Now, with @ethena as a significant long-term short seller, the volatility and skew of rates should decrease

Regardless of what you think of it, @ethena is for me a clear evidence of the power of tokenization. sUSDe is just a tokenized carry trade strategy people have been doing for decade. Through tokenization, not only do you package it in an easy way for normies to enter, but you also give the ability for everyone to easily lever up on this strategy without much complexity. This would have been impossible in a non tokenized setting.

On stETH as collateral: recently CEXs have introduced 3rd-party custody, so for the big institutional clients like @ethena I suppose all exchanges mentioned in the docs gave the opportunity to use it as collateral with small haircut On risks: agree with @EvgenyGaevoy most of the risk is in execution of the team (margin management, leverage management) + premium on the smart contract risk of LST protocols. Market risk is offset between margin and position Lots of the teams were doing Basis trading: short perps long spot collecting funding rates (note margin is used to cover funding rates + pnl also). But ethena did it at scale and public and I consider 600m move from Maker as an investment into this strategy and treasury management. Looks like it is a smart decision for 33% roi vs. 5.25% on UST through brokerage account not controllable by MakerDAO :)) We have been living in the market regime long skewed so the funding rates cumulative were positive : x.com/mainview_io/st… We will see the performance when the regime will change, however anything up to 10bn USDe marketcap can bee easily opened and unwinded, further harder to imagine as it will be 50%+ of the futures market

@Irenezhao_ It’s because he lived in Serbia

Does Do Kwon look more handsome after jail or is Irene Zhao blind?

@gleng2041 @ramahluwalia You don’t care so much that spent an hour typing 5 posts why the young guy has not “made” it. Looks like your ego is so sensitive ahah. I was also there, would have rather traded memecoins instead

In Defense of Memes: Compare: A: ‘Millennium Trader from GS Earns an $8 MM bonus’ to this: B: ‘We have a 26-year-old kid in our office has made a little over 5 million since 2021 doing the exact meme coin presale strategy you are describing. We literally had to put a bed in his office…’ I’m rooting for the 26 year old kid. Memecoins are one of the few markets where gamers can make a fortune. These seasons only last a few months. Why hate on the kid playing a video game that pays them money for skill? Everyone gets the joke and the risks. The gamers bear the full benefits and risks of their decisions. They are personally responsible. In fact, the first few trades they taste risk right away and appreciate skills cultivation immediately. And then they learn quickly. Is it somehow better if a centralized entity like a Casino, Draftkings, or Goldman Sachs gets a cut? These are not derivatives. It’s not a zero sum game. One person’s win does not imply another person’s loss. Today, everyone is re-rating everyone’s position higher (in aggregate). Much in the same way how when someone buys a new house in the neighborhood comparable assets rise in price. It’s a form of multiple expansion. The losses happen when the tide goes out. Everyone knows that. And, when the tide goes out, it comes back in a few years and the cycle repeats. Look at this guy from Goldman Sachs who has an $8 MM bonus from Millennium because he had the right connections to snag that job out of school. Or, look at the InstaCart exit liquidity scheme. Is that really the best use of shareholder capital for an unprofitable company? In memecoin land, we have 25 year old kids who have created millions of wealth playing this multi-player video game. That kid is the underdog in this story. They are playing the one game where they have an edge over Goldman Sachs and have a shot at breaking out of the matrix.

I was put on this earth to create fictional internet currencies

@DeFi_Made_Here @1inch they deprecated the classic mode for most of the networks afaik

.@1inch does not work for me for at least several days already only fusion mode works which I don't want to use

Me and my team when BTC hits 62k after the long bear market By @KarateCombat

@amtwo_eth @yugacohler technically yes, but in reality it is almost impossible, you either need your own capital to bootstrap or at least some sort of injections, because barrier to enter is still high (which makes the opportunity big though)

@mainview_io @yugacohler You don’t need VC capital for a killer app to emerge.

It's becoming clear that 2024 will be the year of consumer crypto - not simply because "number goes up" (although that helps), but because the infrastructure now exists to deliver superior experiences onchain: - Paymasters, gasless transactions - Embedded wallets, account abstraction - Scaled L2s/L3s with low transaction fees - Dev bundles for the above I expect killer gaming and social apps to launch this cycle, built using onchain primitives, but abstracting away all of the complexities of crypto. This will usher in a new and much larger cohort of crypto users.

@mrjasonchoi @ethena let's wait for the first stress-test

CF: It’s not possible to have 27% yield sustainably for $USDe on @ethena Market:

@mdudas that was absolute us liquidity level, perfect timing twitter.com/mainview_io/st…

@DeFi_Made_Here @0xngmi defillama doesn't account for GMX v2: it's +500m 24h

@0xcarnation shitty cex data

If you’re so gud at studying charts name this price action pattern