order book participant || harvard cs, fmr citsec janitor
Hong Kong
Joined February 2021
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If there's any project that will do another airdrop, it's Hyperliquid.
If there's any project that won't do an airdrop, it's Polymarket.
Building a perps product is really, really hard... and Polymarket doesn't really have the technical team to pull it off
Polymarket should focus on the prediction market first
i don't have strong view on whether $HYPE can become worth $500B some day, but through simple process-of-elimination in terms of founder potential, jeff is maybe one of two/three that could actually pull it off
Monet Capital retweeted
We've partnered with Wallet in Telegram to bring a native perps trading experience directly to their app.
Builders and apps can integrate perps and spot seamlessly — the Partner Attribution program is open to anyone ready to build! 🕯️
Introducing Perpetuals in Wallet in Telegram ⚡️
Go long or short in seconds — right inside Telegram.
50+ markets: Metals, Stocks, Oil & Crypto
Up to 50x leverage
Start from $1
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We are in a bear market. More speakers than attendees.
Live at @PennBlockchain conf
@evanbfish — Portal Ventures
Cynthia Lo Bessette — Fidelity Digital Assets
Ben Slocum — UPenn Endowment
polymarket is the new polygon
paying hundreds of millions for partnerships that don't necessarily improve long-term moats
Monet Capital retweeted
Partner Attribution is now live! Integrators that build on Lighter can monetize via configurable fees of up to 10 bps.
We're already working with external teams leveraging this infra, with several partnerships to be announced soon.
More details:
docs.lighter.xyz/integration…
If everyone owned Hyperliquid, it wouldn’t be equivalent to the 701st most valuable asset in the world.
Lots of room to climb.
Noah Goldberg from Theia Research on why Hyperliquid is probably overvalued at $15-20B
"Everybody in crypto has plowed their capital into it. It's a very crowded trade"
"There isn't anybody that's really properly assessing the probabilities of failure versus everybody anchoring towards what is the success case"
"This company is clearly over-earning if history is going to hold true for the future. The multiple you should be willing to pay for this business can't be that high because its margins are going to be hard to defend in one form or another"
"People can anchor themselves to a price to earnings ratio, but in reality it's a price to sales ratio and that has very different implications"
23 out of the top 30 traded assets on Hyperliquid are real world assets.
Hyperliquid is not crypto exchange, it is an exchange for everything.
Hyperliquid is not competing with Nasdaq, it is competing with every single global web2 exchange infra provider, and the total market cap of these companies is $800 billion
now add all the brokers and banks in there too because HL has a stick front-end
trillions
There is a huge difference between a no-kyc Binance and a no-kyc Hyperliquid
it's up to you to be optimistic that regulators will recognize this
tradfi incumbents build closed-ended businesses
onchain disrupters build open-ended marketplaces
the latter will win, whether it's crypto perps, equity perps, tokenization, or any other defi category
people who think no kyc is the only moat for onchain perps are missing the forest for the trees
onchain perps are more efficient, open, faster, composable, and global