Surfing the orderbooks 🍵 Manage money for a top L2. Prev built 2bn TVL DeFi app
Joined April 2022
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To be clear, there are 2 sides of the coin for the $PAPER changes
As @papertrade_xyz team, obviously they have to do it to prevent attack vectors, maximize longevity, and they still earn via fees
As stakers, you have to fight the inflation economics of PAPER emissions. If you were hoping for staking + not trading and earning, then obviously profitability comes down drastically
It is what it is. Just going to leave $PAPER staked and hope revenues outgrow the inflation lmeow.
Chop retweeted
Yeah this is true and not ideal but I think it's fine if you think from a builder's perspective as to how to keep the company running
If you have a bunch of whales who farmed $PAPER early sitting on the house stake and then not trading themselves, it becomes an extractive cycle
They need to incentivize new players to come in with the economics also giving them a slight edge over old whales
I say this as someone who farmed $PAPER early and as a staker
Some people seem upset about the $PAPER @papertrade_xyz update but I think it's good
Owning PAPER is owning a share of the house
If non-transferability etc. is required in order to prevent attack vectors, then that's how it should be
Ppl missing the forest for the trees
Insane @variational_io growth since my post last year. 5x in OI
Whilst you're not early to farming it, you should def use it for regular trading. It's free money. You have ~2 months before TGE max
Use my code for +12% points boost and better fees
omni.variational.io/?ref=OMN…
Here are the two main perp DEXs I've been trading on that I think present MASSIVE opportunities:
My criteria is based on a few main factors:
1. Differentiating factor of perp DEX (especially vs HL)
2. Vision
3. Team's ability to execute vision (including grit & persistence)
4. Product UI/UX + liquidity
The above specs is also why I'm a big $HYPE support alongside others. I need products I actually use. I'm not bothered to test perp DEXs where I get slipped 2% for 50k orders.
So my top 2 picks are:
1. Variational @variational_io
> The massive sleeper perp DEX that people are overlooking imo
> 50% of $VAR (their token) supply allocated for community
> 2026 TGE (I think H1 but tbc)
> No points program yet. Private alpha, need code for access
> Access is gated via volume. 1M trading vol = 1 invite
And that's not it. They still offer:
> No fees rn (afaik)
> Loss refund mechanic
> Team is very persistent and shows great adaptability + execution. I've been speaking with them since Dec last year
> Tremendous growth trajectory & stats
10K lifetime traders, 60M+ TVL, 430M+ OI, multiple 1B+ volume days in a row, 500+ pairs
> Liquidity + UX + execution has significantly improved over the last few weeks. Tradeable for alt pos sizes <500k
You're still VERY early because their points aren't even live and you need a code to trade. 1M volume per 1 invite.
They've offered me an affiliate code:
omni.variational.io/?ref=OMN…
Benefits of my ref:
> ~50 uses, pls no waste lmeow
> Instant bronze tier for 90 days: cheaper fees and better loss refunds
> Some additional benefits that only affiliate referrees will benefit from when points go live soon
Don't sleep on this. And don't waste my ref code kek.
2. TradeXYZ @tradexyz
> This is the big volume but big winner that is cooking imo due to team and vision.
> Shoku + HL exposure
> Trading equities onchain is VERY difficult to facilitate properly but I believe in Shoku + HL team on executing this
> Clean product thus far with top tier support & resources
> Immediately available: You can now trade XYZ assets via the HL frontend. TradeXYZ itself still needs 5mm volume on HL before can access
> Liquidity is deep enough for low 6 fig positions. I'm using it to punt NQ and looking forward to other stocks
Ref : trade.xyz/?ref=79SM1QZYD
Rare shill post from me but tbh I think these are the two standout opportunities thus far. I've used extended and the other ones which I'm watching but either have poor UX, liquidity, or EV not there anymore.
I'm not paid by anyone btw. Just my opinion on the perp dexs that are worth trading on and present outsized upside.
DMs open. Frens can also reach out to me if you want to get connected to the team and maybe get affiliate too.
Close shorts and added to longs
$BTC $ZEC $ETH $HYPE mainly
We still haven’t taken out 80k so I’m not full size yet but maybe 30-45% filled so far
Market structure on lots of alts look a little messed up whilst $BTC is still okay.
Basically how I view it is:
• $BTC can start looking much better with good closes. First sign would be closing today above 83.7k. Last few hours' PA has been alright, but not yet
• Lots of previously strong alts are showing some local weakness (within a larger aggressive uptrend) so it's understandable for either consolidation or more pullback
• Consolidations are happening on the 4H etc. I expect the previously strong coins to remain as the stronger coins WHEN trend continuation happens
• I am playing it defensively as i'm largely flat on delta, with some beta short hedges (i.e. i short alts)
• I am LOOKING to get long still, and will look for proper closes at least on 4h/8H/1D as well as volume to support the notion if the market is showing any will to continue higher.
As for right now, the last few hours has been nice PA with us walking back up after yday. It's also nice this is happening on a tuesday. As such, based on the next few closes, i might selectively up my long exposure once again
I most likely will keep most of my short hedges open to not go aggressively naked long.
I also think we have ~2 weeks before midterms where there are still temporary tailwinds in the markets and then look to largely risk off some more and be more defensive.
Successful traders’ arcs all seem to follow one general path:
1) Get rekt learning and maybe mimicking ppl you look up to, studying, learning basics
2) Making money but still losing more. Poor execution, risk mgmt, not focused enough
3) Net profitable for a more sustained period but struggling with keeping money and managing drawdown. Got the basics but inconsistent and emotional
4) Realize you need to be way more selective and slow down + bet bigger on higher conviction. Probably miss a few bigger shots. Realize what true edge means
5) Now you’re actually profitable and have edge. You know your system and yourself. This is where you can actually call yourself a trader. Still rough around the edges at times tho.
6) You’re now consistent. You’re on the infinite grind of permanent improvement. Always seeking to sharpen your edge.
The majority of people can reach 5 and be profitable. The extreme minority can speedrun this and skip some steps to reach 5-6, ie 0.00001% probability.
The irony here is that everyone THINKS they can reach 5 quickly and theyre different (me included. But the hard part is simply going through the steps, not giving up, and just continuously learning along the way.
I’m probably at 5. It took me a ~3-4 years, and I worked full time in the industry whilst watching markets and trading everyday. I’m humbly still improving plenty, just love the game.
I believe the majority can reach 5. I believe in you. Just gotta stay humble, positive, and never give up.
Also - it’s non-negotiable to have a love for the game. It’s a beautiful game.
Glhf
Now 35M+, whew @papertrade_xyz
