Jonah Merchant

Things I'm interested in today: (09.15.2025) 1) Token Works The wonderful erc-everything experimental studio from Rhynotic. Pretty regularly he puts out various onchain ideas and lets them run. Some have been big hits, some have been big misses, but they're all interesting, and generally are using Uni v4 hooks, which few are doing. The most recent went on an absolute rampage over the weekend - Punk Strategy. It's basically MSTR but for Punks (funded by trading fees) and they've already accumulated 5 punks (listed +20% to floor after purchase). A lot of ppl made a lot of good money on this one, and it's funded by volatility. 2) Pump coins Honestly this one I have some pretty counter-narrative views on I think, and I'll share those this week, but for right now I think you're likely able to find some great plays noticing possibly viral streams and getting in early. I don't find this meta particularly interesting *personally* because it's not really any different than trenching new pairs for 18 hours a day and I don't have time for that, but it at least sort of looks like a new game and has definitely attracted liquidity and creator rewards add a new wrinkle. Ultimately basically 0 of these coins will sustain any meaningful value, but there's money to be made in the interim. Bagwork was a lot of fun to watch play out over the weekend - I'm hopeful to see more novelty characters show up and just try things. Pretty sure they cleared over $200k in the last week. 3) Third-party prediction market tooling The best "tell" for a new sticky vertical is a rapid influx of user-built third party tooling. Fantasy top. Axie. Stepn. Memecoins (trading bots and trackers galore -> axiom). Just a few of the obvious ones from the last couple years. Prediction markets are seeing a Cambrian explosion of third party apps and developers building on top of them right now. Arb bots are the obvious ones, but there's people building custom data pipelines to ingest news and markets and determine impact based on source, type of news, etc. There's people building apps to try to predict the predictors. There's people building third party insider trackers. The sky is the limit. People build where they think there is going to be money to be made and where they think attention is going to aggregate. Markets are the endgame of everything. Humans like to trade. Humans like to click buttons. Humans like to feel like they have a chance of winning. Event contracts scratch all 3 itches at the same time. It's no surprise we're seeing MASSIVE volume across all markets atm.