Onchain | Prev Research @MessariCrypto | Trading attention | NFA
New York, NY
Joined January 2012
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this is bullish papertrade
we just launched something pretty interesting under jupiter labs.
introducing YOLO. 500x to 1000x leverage.
yes, 1000x.
we’ve been experimenting with a different approach to high leverage trading, and YOLO is our first attempt at it.
the idea is pretty simple. what if we could let people trade with extremely high leverage, without actually having to execute these massive leveraged positions in the market?
so we took inspiration from the JLP model and built YOLO, where positions are simulated against real market prices, but the profits and losses are real.
this allows us to offer leverage that goes far beyond what we currently have on jupiter perps, using a completely different approach.
of course, this also comes with some tradeoffs.
since profits are paid out from the pool, if there isn’t enough liquidity to pay out a winning position, the payout can be queued instead of being paid immediately.
it’s a different model from traditional perps, with its own risks and limitations, but i think it’s an interesting experiment worth exploring.
one thing i’ve always liked about building onchain is how much room there is to experiment with new financial products and trading experiences.
and that’s also why we’re launching YOLO under jupiter labs. to give ideas like this a place to be tested, without necessarily having to fit into our existing products.
i’m quite excited to see how people use YOLO and what we can learn from it.
it’s still early, and there are probably many things we can improve along the way.
but that’s the fun part of building and experimenting.
give it a try, understand the risks, and let us know what you think.
jup.ag/yolo
let’s go!
elite analysis of $cards
people usually throw around insane bull targets that are never reached but this time it’s actually different
citrini will ignite the nft bull
Art, as a representation of the last thing humans can be better at than machines, will become more valuable than ever before.
Neil Gaiman’s advice to graduating students seems more apt than when he gave the speech originally:
“Life is sometimes hard. Things go wrong, in life and in love and in business and in friendship and in health and in all the other ways that life can go wrong. And when things get tough, this is what you should do.
Make good art.
I’m serious. Husband runs off with a politician? Make good art. Leg crushed and then eaten by mutated boa constrictor? Make good art. IRS on your trail? Make good art. Cat exploded? Make good art. Somebody on the Internet thinks what you do is stupid or evil or it’s all been done before? Make good art. Probably things will work out somehow, and eventually time will take the sting away, but that doesn’t matter. Do what only you do best. Make good art.
Make it on the good days too.
And Fifthly, while you are at it, make your art. Do the stuff that only you can do.
[…]
The old rules are crumbling and nobody knows what the new rules are.
So make up your own rules.
Someone asked me recently how to do something she thought was going to be difficult, in this case recording an audio book, and I suggested she pretend that she was someone who could do it. Not pretend to do it, but pretend she was someone who could. She put up a notice to this effect on the studio wall, and she said it helped.
So be wise, because the world needs more wisdom, and if you cannot be wise, pretend to be someone who is wise, and then just behave like they would.
And now go, and make interesting mistakes, make amazing mistakes, make glorious and fantastic mistakes. Break rules. Leave the world more interesting for your being here.
Make good art.”
If you’re complaining about AI’s impact on art, it just means you were probably not making only the stuff you can do. And, yes, that will continue to be worth less and less.
they are prepping for a massive onboarding event
ripmart soon
IDK what @Collector_Crypt did on the backend, but holy shit is the site fast and smooth now. Well done 🙏
Baba retweeted
think the idea that traders should have a short window of time to compete with one another reinforces a pretty stupid thesis that traders should be able always able to profit, even if it's within 30 minutes on a random day
most of the best traders i know look for setups on higher timeframes and take a few trades a month rather than several trades in 30minutes trying to perform for a crowd
i suppose there could be an argument that this form of trading represents more of what bullet chess does for the chess community, but i think that comparison is also mostly retarded
if short timeframe traders become the new superstars then the main result is that more kids will become gambling addicts
if your thesis is heavily reliant on a coin getting an exchange listing you should just trash it and find a new thesis to build
this is almost always what i look for when analyzing new projects
aligns with this quote from cobie:
“my own mental model is that you isolate your risk and you try every novel thing”
not every novel concept pans out but the ones that do offer asymmetric upside
the coins with the most upside are those that dont have an obvious 1:1 comp
these coins also take the longest to really get going because it takes time for people to slowly understand what it is
there is a lot of edge to be had operating in this area but it requires patience and the ability to craft a compelling vision for it when others dont see it
reminds me of the nba top shot days when you could buy a random card and sell it for 5x the next day
some thoughts on $cards
at current prices i’m bullish on collector crypt and the collectibles industry in general but i think that sector is starting to show signs of froth, and the blow off top rally may be coming soon.
“at the top signs of froth are indistinguishable from signs of adoption” - zhu su
the ripmart integration will likely be a zero to one moment for collectibles as it increases the distribution for tokenized collectibles massively. current demand for collector crypt comes primarily from crypto native speculators but ripmart opens that up to the broader collectible market participant.
ripmart significantly reduces the friction and pains associated with the current collectibles system. the average collectibles investor is not familiar with the instant liquidity that collector crypt offers. it’s now easier to sell collectibles than ever. that reduced friction goes both ways. previously that friction forced people to hold for longer and that illiquidity is what pushes prices up exponentially.
if prices stop going parabolic does the hype continue?
unlikely. at this point most of the people entering the collectibles market are doing it from a profit perspective because they see other people on tik tok making insane gains on their pokemon cards.
if ripmart gains traction amongst the average collectibles investor, we’ll likely see a massive spike in volume, which will be good for collector crypt because all that volume is routed through their platform. however, i don’t see how that volume is sustained on a longer time frame. people will argue that it’s onboarding new capital to collectibles, but the more likely scenario is that it just gives existing collectors a new way to trade collectibles. minimal new money in.
i continue to hold cards but will be looking for signs to start taking profits as we go deeper into the collectibles mania. think some of the top signals the nfts market showed near the top will appear in the collectibles market as well.
Baba retweeted
collector crypt sits in a very unique and powerful spot as the tokenized collectable trend accelerates
on one side you have crypto native companies that want to tap into this trend, but they dont have:
- 50m+ of inventory sourced at a discount
- 160k tokenized cards and growing fast
- end to end vault, intake and fulfillment process
- proprietary price oracle built from its own buyback flow
- buyback book that pays out 85-93% without getting picked off
on the other side you have the web2 tcg companies that may have their own vaults and tons of tcg experience, but they are missing critical crypto specific infra and knwoledge to build it such as:
- gacha with instant buyback
- instant liquidity secondary market
- tokenization that already works at scale
Each side is missing the part that cc has spent years andd $1b+ in volume to perfect. This is not something that can be spun up overnight from either side.
We are seeing proof of demand from both sides as well. The crypto side is well established at this point with partnerships with Jupiter, solfare and coinbase (xitter.cf/lesabrefomo/status/210…).
The web2 side we have ripmart launching soon that is fully powered by cc rails (xitter.cf/lesabrefomo/status/210…)
cards is becoming the liquidity layer for the entire tokenized collectable space
ripmart is not owned by cc, but it is built on cc rails
its owned by MerryGoRound, which is one of the largest live commerce seller groups in collectibles (and has many of the biggest whatnot sellers). It already sells millions of collectibles a year to a mainstream Whatnot and eBay audience
this is actually way more bullish because a distributor with that audience and eBay era operating experience expands the addressable market in a way cc alone would never be able to do
ripmart is collector crypt's tradexyz moment
“ripmart is collector crypt's tradexyz moment”
few understand this but ripmart is a much bigger deal for $cards than the coinbase integration
ripmart is not owned by cc, but it is built on cc rails
its owned by MerryGoRound, which is one of the largest live commerce seller groups in collectibles (and has many of the biggest whatnot sellers). It already sells millions of collectibles a year to a mainstream Whatnot and eBay audience
this is actually way more bullish because a distributor with that audience and eBay era operating experience expands the addressable market in a way cc alone would never be able to do
ripmart is collector crypt's tradexyz moment
the goat
my full interview with @kelxyz_
1:11 welcomed to crypto by Iron Finance
2:25 the tech finally caught up
4:40 the edge is the crowd's bias
9:19 making it without leverage
13:23 everyone underestimated $HYPE
16:17 building the conviction to hold
18:00 the full $ZEC bullcase
30:37 onchain asset quality isn't there
41:11 betting on decentralized AI
58:58 alpha is hard to find