More Interests Than Time Prev @MessariCrypto @m31capital @nolimithodl
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Joined September 2017
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Agree to an extent. The "front-door" problem is real, but it doesn't matter how easy it is to knock if people don't value what's inside.
We continue to focus on what I call "back-door" problems in onchain finance rather than "front-door" problems and it's severely limiting adoption.
Back-door problems:
- Options (@DeriveXYZ)
- Tranching (@roycoprotocol)
- STRIPS (@pendle_fi / @ExponentFinance
- @papertrade_xyz
- Exotic stables (@ethena, @SkyEcosystem)
Front-door problems:
- Onramping money
- Removing anything to do with crypto (chains, gas)
- Abstracting anything to do with wallets
The back-door problems, while innovative, compete for the same set of onchain users. They do not expand the TAM. Many of them are niches within niches.
Rather than refining your protocol, you are better off figuring out a way to grow the TAM via front-door problems. If not, I predict you will be replaced.
In fact, I predict many of these protocols will be replaced by apps that solve "front-door" problems.
In a few years, we will look back and say, "Remember that era when we all had chrome extensions and physical hardware wallets." I see no world where that becomes the norm.
The companies that solve front-door problems will be the ones that dictate which back-door companies survive. You have been warned.
Rylan Fegan retweeted
Here's my list of every coin I could find above ~3mil market cap that is at least worth researching. PLEASE reply with your own research or thoughts on any coin(s) you like or dislike. The goal is to actually learn everything and win
# Coins That Are Money (or want to be)
## Base Money
- Bitcoin
- Ethereum
- New Age Money?
- Litecoin
- Kaspa
## Private Money
- Zcash
- Monero
- Dash
## AI Money
- Pearl
- Bittensor
- Chutes
- Lium
- Targon
- EfficientFrontier
- Score
- Affine
- Vanta Network
- Templar
## Protocol Money
- Ohm
- Ore
## Quantum Money
- Qtum
- Quantus
## Memes
- Pengu
- Rekt
- Purr
- ORDI — Look at Ordinals. Is that entirely dead?
- The Black Bull
- SPX6900
---
# Coins That Make Money (or say they will)
## Layer 1s
- Solana
- Seeker — Pair with Solana, why not?
- Tron — Crazy revenue, good crime
- Canton
- GRAM
- Quant
- Celestia
- Tezos — Cool art scene
- Monad
- Peaq
- Zama
- Nillion
- IoTeX
- Filecoin
- Flare — Probably not, but data, so maybe
- Arweave
- Theta — Theta Fuel
- Akash
- Ozone Chain
- Quantum Resistant Ledger
- Zano
- Nervos Network
- Keeta — Crime
- Qubic — Evil miners?
- Zig Finance
- DUSK
- APEX (AP3X)
- Somnia
- REAL
- Fractal Bitcoin
- Sui
## Layer 2s
### Infrastructure
*Makes money by other chains using their stack.*
- Arbitrum
- Optimism
- Espresso — Chart looks good?
- Zksync
- SOON
### Networks
- MegaETH — Is it really an L2?
- Aurora
- Prom
- Kinetiq
### Bitcoin Programmability
- BOB (Build on Bitcoin)
- Citrea
- Merlin Chain
- Stacks
## Oracles
- Chainlink
- Pyth
- RedStone
- Tellor Tributes
- WINkLink — Tron oracle
- API3
- Band
- UMA
## DEXes
### Spot
- Uniswap
- PancakeSwap
- Aero — Merger of Aerodrome & Velodrome
- Raydium
- Curve
- Orca
- Meteora
- Sushi
- HumidiFi
- Bancor
- Nest — HL protocol, very small
- $WAGYU Farming — Used to be Fwog? Tied to XMR bridging
- CoW Protocol
- SUN — Also has a launchpad; figure out what's more important to the bull case
- RHEA — DeFi on NEAR
- O1.exchange
- LCX — Crime pump?
### Exchange Coins
- WhiteBIT
- BNB
- LEO
- OKB
- Mantle
- HTX DAO
- Bitget
- KuCoin
- MX
- GRX
- BTSE
### Perpetuals
- Hyperliquid
- Aster
- Lighter
- Drift
- EdgeX
- dYdX
- GMX
- MYX Finance
- Synthetix — Totally dead
### Options
- Derive
- Paradex
- Hypercall — Synapse, Cortex
- Aevo
### Prediction Markets
- RAIN
- True
- Pumpcade
## Launchpads
- Pumpfun
- Bonk — Also Bonkbot, so maybe terminal?
- PONS
- MetaDAO
- Stonk
- Argus — Arc launchpad (maybe this chain matters?)
- Baseline — Base launchpad?
## Aggregators & Terminals
- Jupiter
- 1inch
- Yearn
- Peapods Finance
- Convex
- Genius
- 0x Protocol
- Tensor
- Tread.fi
## Stablecoins
- Sky — USDS
- USDe & ENA — Also somewhat neobank-ish
- Stable
- Liquity
- Usual USD
- A7A5
- Falcon Finance
- Re Protocol — reUSD
- USX — Solstice, the yield layer?
- Do they have a coin? Solstice
- AUSD — Agora, RH cabal?
- apyUSD — APYX token? DAT-based, RIP, but revenue
- Reserve Rights
- Resupply USD
- Felix feUSD — On hEVM? Felix Protocol
- Crown BRLV — Maybe this too? Brazilian Digital (or a different project)
- RE
- Frax
- Spell
- Unitas
## Lending
- Spark
- Aave — GHO
- Morpho
- Maple
- Compound
- usd.ai — CHIP
- Hastra AUTO — CHIP, but for cars?
- Lombard
- Kamino
- Nexo — Fine, maybe CeFi junk?
- 3Jane — USD3
- Venus — Binance lending
- Euler
- Yield Basis — More of a yield protocol, but let's see
## RWAs / Tokenization / Issuance
- Ondo
- Backpack
- Securitize
- Centrifuge
- Kenesis — Token RWA slop? Also has a tokenized silver coin
- Plume — Don't get RWA nerdsniped
- Anvil
- RNT
- Lorenzo — Related to USD1?
## Miscellaneous
- Worldcoin
- Just
- Kaito
- Pendle
- DoubleZero
- Gnosis — Safe
- ENS
- SPACE ID
- CARDS
- StonkBroker
- Succinct
- Flying Tulip
- BAT
- Tree — Related to TON?
- GoPlus Security
- Render
- Livepeer
- Arkham
- Forta
- Gitcoin
- Bubblemaps
- BIO Protocol
- Metaplex
- Nexus Mutual
- Zora
- Echelon Prime
- Doppler Finance
- Radworks
- Graphite Protocol
- Prize Protocol
- NovaChargeX Coin — Researching crime
## AI
- Venice — Maybe AI "money" because Venice (or DIEM?) gets you daily credits? Not money-money, but money like membership points, so there's some value there
- Dolphin
- io.net
- REPPO
- Numeraire
- Orbio
- Nosana
- Unibase
- Kite — x402 for agents; chart not bad?
- Sentient
- Quack AI
- Aethir
- UnifAI Network
- Nesa — Private AI
- ZetaChain — Hot during perps meta?
- BankrCoin
- OpenServ
- Arcium
- FastX Network Token
- Veranta — Perps on Base
- Concordium
- Acurast
## Neobank
- ETHFI
- Plasma
## Staking
- Lido
- Jito
- Sanctum
- SSV Network — Staking?
- Rocket Pool
- Marinade
## Bridges / Cross-Chain Infrastructure
- deBridge
- LayerZero
- Wormhole
- Across Protocol
- Axelar — Acquired? Rugged holders
- Threshold Network
## Wallets
- Trust Wallet
- Ambire Wallet
- WalletConnect Token
- UnityWallet Token
- TokenPocket Token
## Metaverse
- Decentraland — Maybe crime pump like Sandbox
- Sandbox — Recent pump? Crime or insiders front-running?
## DePIN
- Geodnet
- JasmyCoin — Japanese KLED?
- Kled AI
- Grass
- Helium
- World Mobile Token
- Phala
- GoMining Token — Bitcoin mining?
- AIOZ Network
- Pocket Network
- Ankr — RPC
## GameFi
- Fren Pet — IMD
- Catizen — Gaming on TON?
- FUNToken
- ONEchain
- Nexpace
- Unipoly
- Pentagon Chain
## Privacy
- Beldex
- KOGE
- Railgun
- Horizen
- iExec RLC
- Tornado Cash
- Aztec
- The Interfold
- Zip Coin
- ANyONe Protocol
## Data
- BitTorrent
- TAGGER — Data
- XYO Network — Does AI data now? Maybe empty pivot
- Space and Time — Data or something?
## Gambling
- Shuffle
- Rollbit
## PayFi
- Zebec
- Huma Finance
- Credible Finance
- Ozapay
## NFTs
- Magic Eden
- Fake World Assets
---
# Coins I Don't Understand
- rlUSD & XRP — Big stablecoin, what is up here?
- NEAR
- Bitway
- Algo — Unfortunately, because quantum
- Starknet
- Mina
- Eigen
---
# Research Later
*Not for today, but Google eventually.*
- Neo — GAS? Second coin? Interesting
My $GRASS concerns revolve around several headwinds:
-Delays in the AI Infrastructure buildout delaying 2H2026 realized revenue (they already saw $15 million of Deferred Customer Spending in 1H2026)
-LCR's 2026 impact
-Uncertainty on how the token captures any value
There is high downside risk if they don't hit their $70 M revenue guidance, which is by no means a slamdunk. However, don't believe most investors are looking that far out, and there are ways to justify the recent run up in price action.
What's on my mind rn:
- If LCR has the TAM the team/investors say it does, what does this mean for the earnings of people supplying bandwidth to the network rn? Can they expect earnings to increase substantially -> will that onboard more providers?
- Since grass already has working relationships with top ai labs when it comes to pre-training data can we expect them to also become customers of live context retrieval? The hopium is every web search on a chatgpt, claude, muse etc to route through grass
Rylan Fegan retweeted
Buy and Hold good coins, my thesis for the cycle. How I'm picking cryptomoneys and money making protocols. +plus my detailed thoughts on Ethereum & Solana
0:25 the dot-com crash
3:52 the '21 cycle vs now
6:13 this is a selective market
10:52 crypto money vs everything else
24:05 coins that make money
26:37 buy the good projects and wait
Rylan Fegan retweeted
Feels good supporting teams that are putting 100% of their effort into the right things and growing the community the right way.
Happy that some of the boys and I got to talk to @TuomHolmberg about where Collector Crypt is headed. We can proudly say we’re backing them to the max!
What @terrry is building at @techdollarhq is coming at the perfect storm: frontier companies seeing higher valuations yet choosing to stay private for longer, leaving employees withing nothing more than illiquid wealth and the title of being "paper rich".
TechDollar helps your equity not just be a number on a screen, but usable capital that can fund your day-to-day life while still allowing you to maintain full ownership.
Terence states in the podcast that his mission is to “provide liquidity at the pace your life demands it.” I believe TechDollar is best positioned to deliver on this promise, and the world will slowly, then suddenly, realize just how valuable that is.
