Sam Schubert

1.1K posts

Sam Schubert banner
Sam Schubert

Sam Schubert

@minnus

@Blockworks_ @blockworksres | prev @Citi | views are my own

Katılım Mayıs 2023
4.6K Takip Edilen2.1K Takipçiler
Sabitlenmiş Tweet
Sam Schubert
Sam Schubert@minnus·
The best place to trade $BTC is starting to be @solana. In Jupiter cbBTC-USDC $5k to $20k fills, both buyer and seller medians have recently moved below zero, meaning users are getting outright price improvement versus the pre-fill Binance reference before even counting Binance fees. The improvement also coincides with prop AMM share picking up. The next question is when does price discovery start to move onchain?
Sam Schubert tweet media
Sam Schubert@minnus

The best place to trade @Zcash is starting to be @solana. Across $500 to $3k ZEC/USDC fills this year, Solana beat Binance’s executable ZEC/USDC book by ~7 bps at the median versus VIP 9 and won ~62% of comparisons. The comparison replays Binance’s ZEC/USDC order book and walks the same zcash:native size immediately before each Solana fill. Still small clips, but a real signal that long-tail execution is starting to move onchain. Everything @mert could ask for.

English
22
32
179
111.3K
𝗰𝘆𝗰𝗹𝗼𝗽
𝗰𝘆𝗰𝗹𝗼𝗽@nobrainflip·
$HYPE trades at 97x P/E (earnings on valuation) The average S&P 500 stock trades at 32x. The historical average is 20x. That's a 3-5x premium to US equities. Just FYI.
𝗰𝘆𝗰𝗹𝗼𝗽 tweet media
𝗰𝘆𝗰𝗹𝗼𝗽@nobrainflip

Sold 60% of my spot $HYPE here at $64. Not saying it won’t go higher, I believe it will be #1 runner of the next cycle, - and I’d love to own more coins - but judging by current sentiment, a local top is probably close. Will DCA back in around $42-$28.

English
88
13
256
73.2K
Sam Schubert retweetledi
Carlos
Carlos@0xcarlosg·
I’ll be the first to admit I initially dismissed ORE because of its speculative, lottery-style mechanics. However, the current metrics are hard to ignore. ORE may be catching a "privacy" bid, but the real story is structural buy flows and how long they can continue. ORE’s mining game is simple: users deploy SOL across a 5x5 grid. Each round, one winning block is selected, and miners on that block receive the SOL deployed on losing blocks. Last week, miners deployed an average of ~$1.29M worth of SOL per day. 10% of SOL mining rewards are collected as protocol revenue and automatically used to buy back ORE from the open market. Of the ORE purchased, 90% is burned and 10% is distributed to stakers as yield. Over the past 30 days, ORE has spent ~$2.71M on buybacks, with activity trending higher over the past three weeks. That puts the token at roughly 2x P/S circulating, while current buyback activity implies a ~42% annualized yield on a $77M market cap (using current price and a 1-year forward projected supply of 572K ORE). Obviously, the game is highly reflexive and speculative. A higher ORE price makes mining more attractive, which can drive more activity, revenue, and buybacks. But if speculative demand fades, the incentive to mine weakens, revenue falls, buybacks decline, and the flywheel unwinds. How long this loop can continue is anyone’s guess, but at the current pace of buybacks, the near-term setup seems attractive.
Carlos tweet mediaCarlos tweet media
Austin Barack@AustinBarack

⛏️

English
11
16
91
3.3K
Sam Schubert retweetledi
shaunda devens
shaunda devens@shaundadevens·
On Hyperliquid, the world’s most important private companies are tradable before they go public. On WeekendMarkets, you can now track them in one place: live implied valuations, filings, market updates, and analytics on how prior IPOs traded against stale TradFi anchors.
shaunda devens tweet mediashaunda devens tweet media
English
14
27
196
10.2K
Umia
Umia@umia_finance·
" Tokens have been an artifact of regulatory arbitrage. That's starting to change. Tokens are becoming something different" Macauley Peterson ( @yeluacaM ) shares why he things tokens are changing at Umia's panel in @EthPrague This is why @Blockworks has been working on Token Transparency.
Umia tweet media
English
2
2
15
584
Davide
Davide@OpenBitLab·
Execution quality of Solana-native perps is improving, but job's not finished. A new generation of perp DEXs is being built right now
Sam Schubert@minnus

Agree with @KyleSamani that the next step to watch is @perps. In terms of competing with Binance, I’ve been looking at multiple venues’ hourly BTC perp close vs Binance BTCUSDT perp, then smoothing the difference over 24h to get a gauge of execution quality. On that basis, Phoenix is already a pretty big improvement from Drift while still being fully inside the Solana VM. 77% of Phoenix hourly observations are within ±5 bps of Binance, with way less ugly downside dispersion than we saw with Drift. Still early, but this is the thing to watch imo. If Solana-native perps keep tightening execution without giving up composability, the same argument we are making for better spot execution will start applying to perps too.

English
8
3
45
11.9K
JTX
JTX@jtx_trade·
Did you know Solana is the best place to trade spot majors? x.com/minnus/status/…
Sam Schubert@minnus

The best place to trade $BTC is starting to be @solana. In Jupiter cbBTC-USDC $5k to $20k fills, both buyer and seller medians have recently moved below zero, meaning users are getting outright price improvement versus the pre-fill Binance reference before even counting Binance fees. The improvement also coincides with prop AMM share picking up. The next question is when does price discovery start to move onchain?

English
11
7
84
6.8K
Sam Schubert
Sam Schubert@minnus·
To understand how @solana is already beating CEXs on execution, you have to look at several dynamics working together. Being bullish on crypto is being bullish on the cost-cutting and capital coordination benefits it can bring to the real world. Now we are seeing tangible data of those dynamics playing out. And it is still so early... Better execution gives liquidity a real reason to move onchain, and those effects should start to compound. As @kashdhanda from @JupiterExchange said, if you are bullish on creating real value for real people, it is time to be bullish Solana.
Sam Schubert@minnus

The best place to trade $BTC is starting to be @solana. In Jupiter cbBTC-USDC $5k to $20k fills, both buyer and seller medians have recently moved below zero, meaning users are getting outright price improvement versus the pre-fill Binance reference before even counting Binance fees. The improvement also coincides with prop AMM share picking up. The next question is when does price discovery start to move onchain?

English
2
2
29
1.9K
proffe
proffe@il_professore_0·
@minnus @KyleSamani @perps core reason that phoenix has "way less ugly downside dispersion than we saw with Drift" iyo?
English
1
0
1
89
Sam Schubert
Sam Schubert@minnus·
Agree with @KyleSamani that the next step to watch is @perps. In terms of competing with Binance, I’ve been looking at multiple venues’ hourly BTC perp close vs Binance BTCUSDT perp, then smoothing the difference over 24h to get a gauge of execution quality. On that basis, Phoenix is already a pretty big improvement from Drift while still being fully inside the Solana VM. 77% of Phoenix hourly observations are within ±5 bps of Binance, with way less ugly downside dispersion than we saw with Drift. Still early, but this is the thing to watch imo. If Solana-native perps keep tightening execution without giving up composability, the same argument we are making for better spot execution will start applying to perps too.
Sam Schubert tweet media
Kyle Samani@KyleSamani

Liking my EOY prediction If Solana can compete with Binance on spot BTC, it can compete with Binance on perp BTC too x.com/kylesamani/sta…

English
17
6
78
31.9K
kdot | bulk
kdot | bulk@kdotcrypto·
There will not be a faster DEX in the world There will not be a faster consensus in the world There will not be a more efficient liquidation system No other crypto exchange has SPAN margining No other exchange gives yield carry back to depositors No other protocol offers dynamic risk engines There will be only one exchange that is truly portfolio aware There will only be one 30% allocation to users There will only be BULK
English
150
50
413
94.4K
defiprime
defiprime@defiprime·
@minnus @toly @KyleSamani @perps perps are the real distribution fight. spot is mostly solved UX now, but leverage still decides where active users actually live
English
1
0
2
216
vibhu
vibhu@vibhu·
The best price for spot SOL, BTC, and ZEC is on Solana. Now the game is simply tokenization + sourcing liquidity to reproduce this for all spot assets + getting this in front of users. Fills are even better than offchain. Do you realize how incredible that is? Decentralized/open infra produces better outcomes. It just takes more time. It took 6 years for Solana DeFi. Long term games.
English
36
10
232
25.3K
gum
gum@gumsays·
Somewhat long post on my one criticism of Solana culture atm We don't promote our strengths enough and the things where we are not strong in, we try to make it seem like we are. No one talks about how you can't get better spot execution than on Solana. At this point you can buy ZEC and other tokens and get filled more efficiently than Binance and anywhere else. I am personally very excited about @jtx_trade. Spot still matters, it is what drove the last bull run on Solana... lets focus on that too! We're having a bull run in RWA growth, thanks to @kamino pioneering many yield opportunities and @JupiterExchange for being a very strong competitor and growing the pie. We're becoming the collectibles chain. This is going to be massive. @Collector_Crypt and others are leading the way and we need more eyes on these teams. ICM still matters and will have a big run anywhere in the next 1-2 years and it will happen on Solana. As I write this there are some cracked devs building (REAL) cool stuff and working to align their token to the growth of their ideas. I personally don't like that some accounts are talking about Perps volume on Solana being close to Hyperliquid when most of it is wash trading - do you know anyone trading gold perps on Solana? Maybe you do but there's apparently $2B days of volume on gold followed by $50M days. It is simply not worth mentioning. Lets stay consistent and truthful to the data and context of it. With this being said, a lot of people on CT have no idea what they're talking about. Attacking Solana because solana:So11111111111111111111111111111111111111112 isn't performing is stupid. It is highly dependent on BTC and ETH; they're interconnected. One does not move without the other because majors signal vibe shifts and we haven't had one.
Sam Schubert@minnus

The best place to trade @Zcash is starting to be @solana. Across $500 to $3k ZEC/USDC fills this year, Solana beat Binance’s executable ZEC/USDC book by ~7 bps at the median versus VIP 9 and won ~62% of comparisons. The comparison replays Binance’s ZEC/USDC order book and walks the same zcash:native size immediately before each Solana fill. Still small clips, but a real signal that long-tail execution is starting to move onchain. Everything @mert could ask for.

English
9
6
112
12.6K
Sam Schubert retweetledi
buffalu
buffalu@buffalu__·
WOW! 🤑🤑🤑
Sam Schubert@minnus

The best place to trade $BTC is starting to be @solana. In Jupiter cbBTC-USDC $5k to $20k fills, both buyer and seller medians have recently moved below zero, meaning users are getting outright price improvement versus the pre-fill Binance reference before even counting Binance fees. The improvement also coincides with prop AMM share picking up. The next question is when does price discovery start to move onchain?

4
6
67
4.8K
Sam Schubert retweetledi
toly 🇺🇸
toly 🇺🇸@toly·
Economic surplus delivered to @mert
Sam Schubert@minnus

The best place to trade @Zcash is starting to be @solana. Across $500 to $3k ZEC/USDC fills this year, Solana beat Binance’s executable ZEC/USDC book by ~7 bps at the median versus VIP 9 and won ~62% of comparisons. The comparison replays Binance’s ZEC/USDC order book and walks the same zcash:native size immediately before each Solana fill. Still small clips, but a real signal that long-tail execution is starting to move onchain. Everything @mert could ask for.

English
1
4
68
10.7K
Sam Schubert retweetledi
kash
kash@kashdhanda·
the best place to trade: @JupiterExchange
Sam Schubert@minnus

The best place to trade $BTC is starting to be @solana. In Jupiter cbBTC-USDC $5k to $20k fills, both buyer and seller medians have recently moved below zero, meaning users are getting outright price improvement versus the pre-fill Binance reference before even counting Binance fees. The improvement also coincides with prop AMM share picking up. The next question is when does price discovery start to move onchain?

English
19
17
172
11.4K
SolanaNews.sol
SolanaNews.sol@solananew·
Credit: x.com/minnus/status/…
Sam Schubert@minnus

The best place to trade @Zcash is starting to be @solana. Across $500 to $3k ZEC/USDC fills this year, Solana beat Binance’s executable ZEC/USDC book by ~7 bps at the median versus VIP 9 and won ~62% of comparisons. The comparison replays Binance’s ZEC/USDC order book and walks the same zcash:native size immediately before each Solana fill. Still small clips, but a real signal that long-tail execution is starting to move onchain. Everything @mert could ask for.

English
1
1
4
1.1K
SolanaNews.sol
SolanaNews.sol@solananew·
🚨BREAKING: Blockworks Data Shows Solana DEX ZEC Fills Beat Binance VIP 9 Pricing by ~7bps — Outperforming in 62% of Execution Comparisons!
SolanaNews.sol tweet mediaSolanaNews.sol tweet media
English
2
11
80
2.5K

Keşfet

@nobrainflip @1nvest05 @shaundadevens @umia_finance @yeluacaM @EthPrague @Blockworks @OpenBitLab