@pegfault

But you merely adopted the ponzi; I was born in it, moulded by it

Joined August 2022
  • Tweets1.4K
  • Following1.1K
  • Followers333
24Media
Another thought on $PAPER is that it was nonsensical to pay out 100% of revenue to stakers instantly instead of building an insurance fund owned by paper holders Unless the desire was to juice the ponzi for more dev fees of course kek
1
18
939
Done talking about this btw, I do wish jez / blurr the best in figuring out a better solution if there is one. As it stands now protocol likely cooked for a bit but it is what it is
137
One of these is true: 1. Team made a mistake and did not take into account perp shorts on PAPER in LP attack 2. Team did not expect perp markets on PAPER (impossible) 3. Team knew this was coming and still chose to launch with promise of limited supply and transferability
jez (equity perps era)
@izebel_ethOct 19
Replying to @izebel_eth
read more here on the technical reasons ultimately were just not willing to cap the growth of papertrade so a perp market can exist
9
2
1
68
5,162
It just happens that a side effect of 3. is that the team lines their pockets with $5m+ of dev fees, because if this plan was known from the beginning it would not be farmed so aggressively I am optimistic that jez and blurr are not bad actors but waters are muddied a bit tbh
1
13
467
As a PAPER farmer / holder I’m all for this shill However the glaring reason why you wouldn’t is that every position on paper trade is essentially selling a covered call for free. Heads you win (minus 12% haircut), tails you lose
Ansem 🐂🀄️
@blknoiz06Oct 15
Replying to @alex_hunter20
keep seeing people say that volume will slow down after max supply is minted, & i dont understand their reasoning, if you own paper & you trade perps in size, why would you daytrade anywhere else other than papertrade when 99% of losses go back to paper stakers & theres no tx fees + no funding
1
42
best risk-adjusted short rn is $mstr IMO - saylor's actions have indicated he favors sacrificing MSTR for STRC - still trading at 1.2 MNAV somehow - negative convexity as pressure to sell more BTC increases as BTC and MSTR go down risk is simply that MSTR is already heavily shorted and people get squeezed
1
3
163
TPed most of this, BTC OI increasing on BTC 60k flush and MSTR $100 flush, could see bounce here if we get above $110 on MSTR will be looking to add back, upside seems very capped
3
100
peggy retweeted
based16z
@based16zMay 29
Replying to @KyleSamani @defi_monk
it's a bit like if the FTX and Solana thesis had worked and not been scams
14
26
1
704
35,576
Drake talking about FTX and SBF lmaoooo
2
3
272
][
53
37
4
240
140,993
one of the wisest decisions HL team has made is keeping hypercore closed source i was at first skeptical of this decision as it's obviously against the open source ethos of crypto. but it helps minimize the attack surface as well as serves as a huge competitive moat
3
104
honestly the trolling is pretty funny lol
Kyle Samani
@KyleSamaniFeb 8
Replying to @jon_charb
Hyper liquid is in most respects everything wrong with crypto Founder literally fled his home country to build Openly facilitates crime and terror Closed source Permissioned
3
254
schiff on tucker carlson dont want to sell but might have to soon
2
161
how TF does LLP still have 500m in tvl
1
158
all im saying is, would be a nutty time for @dschamis to start bidding $hype
1
193
i would greatly appreciate @Lighter_xyz publishing how many points were redistributed due to sybils / wash trading, and how the redistribution happened
5
181
taking my own advice with this, MMing the xyz names and will try to quote all of them as they come online quick observation- fees for these markets (2x the normal perp HL fees) are simply too high to get mainstream attraction currently. i suspect the HL team knows this, and it acts as a speed bump before HIP3 activity really scales. hard to judge real adoption of equity perps until fees are 3x lower or more
peggy
@pegfault29 Sep 2025
i’ve said it before and i’ll say it again- next iteration of HL points will be primarily focused on HIP3 it’s clear that jeff does not need to incentivize perps or spot volume, but novel HIP3 products could use incentives to kick off activity
2
2
280
and just like that, they change the fees lol
1
99
people keep RAVING about $snx but every time i see gloating about a pump it's the same price ?
2
274
ADLed on my hype hedge lol
2
178
Load more