@dima_null
Account based inNorth America
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Got airpods pro for the first time in my life; how come they don't support multi device ???
Seriously considering returning now..
Every perp venue that reached escape velocity in recent years substantially changed some part of exchange design. Hyperliquid built HLP, Lighter made trading free, and Variational introduced RFQ. Each of these ideas was bold and innovative at the time, and none came without risk.
I don’t see a new exchange reaching critical mass without introducing something similarly differentiated.
That’s why we’ve been quieter lately and more focused on N1 Prime. I think it’s the final major piece of the puzzle in this space.
every single time i want to try a new crypto app...
if you cant do design but willing to spend 40k on a landing page, spend it on the app instead
We were running some data analytics and noticed that more and more users started to create their accounts through ChatGPT.
New era!
Yes, we are probably seeing the largest pool of talent building exchanges since the 2020/21 era, but saying that the game is solved is quite premature.
The exchange market simply has a barbell structure right now, with a handful of incumbents at the top and a crowded field of challengers fighting to become the next major player.
On one hand, up-and-coming startups are fighting tooth and nail to gain ground and solve the cold-start problem, driving up MM quotes and increasing CAC.
On the other hand, the big players are tapping into only a fraction of the TAM. The opportunities beyond the niche crypto circle have never been larger, and the achievable outcomes have never been higher. Moreover, many incumbents have grown too big to innovate and failed to keep up with the times, while some are now shutting down, opening the door for more players to enter.
So I would say people are justified in being skeptical of new teams building an exchange and in holding them to a high standard. Many more teams will fail, shut down, or fade into irrelevance, but we will also see far more exciting outcomes, and many expectations will be challenged.
So maybe we can have a little bit more optimism on the timeline?
