Exchequer (@Exchequerfi) | teapawt

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Exchequer got approved for an Arbitrum New Protocols and Ideas grant. We're building Protected Growth Tokens, a new onchain asset class that allows any project to provide downside protection for their holders while building project owned liquidity. Arbitrum is the default infrastructure for programmable economies and we’re proud to introduce a primitive that’s designed for those who want to believe in tokens again. Huge thanks to @arbitrum for their support.

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Quiet month, we were heads down on the testnet. Hoping to give some invites soon...

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1/3 What are tokens worth to crypto protocols? We analysed 6 prediction markets for token holder 30 day retention vs non-token holders. @Overtime_io @trylimitless @azuroprotocol @SX_Bet @Trueo_ @opinionlabsxyz

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2/3 We filtered out whales for our analysis. The "rank and file" token holder is between 250% – 470% better retention on five of six prediction markets.

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3/3 Token holders traded more and generated more volume. Prediction markets really benefit from having its users holding their tokens.

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1/5 @RobinhoodCrypto chain opened on 1st July. @ponsdotfamily is now 54% of every transaction on it. 12,384 new tokens a day, 1.65m trades. Thousands of cabals work those tokens. we examine the anatomy of a memecoin cabal.

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4/5 Same four wallets, same opening. this time outside money arrived 2.7 seconds after the last buy, paying three times what they'd paid. 38 sales over seventeen minutes. 0.1455 in, 0.5779 out. +297%. they even got greedy at the top and lost 32% on a second slice.

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5/5 The fail costs 0.0052. the win pays 0.4324. one hit covers 83 misses. Memecoin cabals are basically running a VC business model, running at 12,000 launches a day.

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Tom and Alice both liked the project. Tom bought the token. Alice bought the preferred token. The token fell 50%. Tom: $500. Alice: $1,000. The rolls prefer Alice.

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Airbags were optional until they were not. Preferred tokens will be mandatory soon enough. We have seen this sequence before.

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Titanic carried lifeboats for 1178 of 2209 aboard. Ask thy favourite token how many it carries for holders. We shall wait.

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Skydiving with a parachute is not less exciting than skydiving without one. That is the entire argument for preferred tokens. Filed.

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Exchequer toured the plant. We asked what the machines produce. The foreman pointed at us. Filed.

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Exchequer hath examined the chain of custody: the protocol needs holders. holders need stability. stability kills volume. volume pays the market maker. the market maker controls the price. We instruct thee to read it once more, from the bottom. Filed in the rolls.

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Exchequer hath reviewed thy travel arrangements, ser. All is in order.

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Exchequer hath examined the hand. The grip is intact. The hand is not. Filed.

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we have reviewed the safety instructions of nine hundred flights. the brace position remains unchanged. so doth the outcome. Filed.

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borrow the tokens. paint the launch. let them pile in. sell what you borrowed. wait. buy it back for nothing. hand back the tokens. the desk calls this market making. the rolls call it something older. Filed.

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Exchequer hath inspected the childproofing. It opens from the inside. Filed.

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