GOAT DX

I still remember the exact moment in early 2022 when everyone wrote YGG off for dead.
Axie Infinity had crashed 95% from its all-time high, the scholarship program that made YGG famous was bleeding players by the tens of thousands every week, and the YGG treasury—once sitting on hundreds of millions—was down to pocket change in crypto terms. Twitter was brutal. “GameFi is dead.” “YGG was just an Axie ponzi.” You know the script.
Three years later, that same guild is still here, profitable, and frankly boring in the best possible way. While most 2021 projects either rug-pulled, quietly faded, or live on life support from VC unlocks, YGG turned itself into something that feels a lot more like a real institution than a token moonshot.
This is how they actually did it—no fluff, no copypasta hype.
They started burning tokens with money they actually earned
Over 480 million YGG—48% of the entire supply—has been sent to the dead address. Not from some “strategic burn program” announced on Twitter for pumps. It comes straight from revenue the guild makes every month: rental fees, tournament cuts, quest rewards, NFT flips, SubDAO fees. When the guild spends less than it makes (which happens a lot now), the excess gets market-bought and burned. There have already been quarters where burns outpaced the vesting emissions. That’s actual deflation, not the fake kind.
They stopped betting the whole treasury on one game
Post-Axie collapse, the DAO passed rules that no more than 10-15% of the treasury can ever be exposed to a single game again. They rotated hard into blue-chip crypto (BTC, ETH, stables) and spread the rest across dozens of new titles. The result? When Sniper Elite or whatever flavor-of-the-month game dies tomorrow, YGG just shrugs and moves scholars to the next one. One game can no longer kill the guild. That’s antifragility in practice.
They turned themselves into a franchise system
The SubDAO model is probably the smartest thing they’ve done. Instead of one giant centralized guild trying to manage half a million players from Manila, they let local communities and game-specific teams spin up their own mini-guilds.
Southeast Asia SubDAO
LatAm SubDAO
India SubDAO
Pixels Guild
Parallel Guild
and like thirty more
Each one runs its own treasury, keeps 90% of the revenue it generates, and kicks 10% upstairs to the main DAO. It’s basically McDonald’s, but for blockchain games. The center stays lean, the edges do the actual work, and no single region or game collapsing can take down the network.
The token stopped being a meme and started paying real yield
In 2021 you bought YGG because “Axie to the moon.”
In 2025 you stake YGG because every month you get a cut (in ETH or USDC) of everything the guild network earns. No crazy 200% APY paid by printing more tokens—just whatever the guilds actually made after expenses. Boring, sustainable, and it compounds.
They publish numbers like a real company
Quarterly reports. Treasury dashboards updated daily. Third-party audits. You can go on Dune or the YGG site right now and see exactly how much the treasury holds, where it’s allocated, how many active players there are, and how much revenue rolled in last month. Most DAOs still treat transparency like it’s optional. YGG acts like it’s table stakes.
The community actually went through the fire together
2022 wasn’t just a price crash; it was an existential crisis. Proposals to shut down the guild, proposals to sell the whole treasury for ETH and give up—those were real discussions that got voted on and rejected. The fact that the DAO survived that without imploding or centralizing is probably the single biggest reason I respect them. Most projects never get stress-tested like that and still come out stronger.
The numbers today are quietly insane if you remember where they were in 2022
$1-3M in monthly revenue across the network (not TVL, actual revenue)
100,000+ active players/scholars again
Treasury back above nine figures and climbing
Top 100 holders are mostly staking contracts and long-term funds now, not Binance hot wallets
Crypto has entered the phase where hype dies fast and only things with real cash flow and real governance survive. YGG isn’t flashy anymore. It doesn’t need to be. It’s one of the very few 2021 projects that took the bear market beating, learned the lessons, and built something durable on the other side.
@Yield Guild Games #YGGPlay $YGG

Everyone in crypto loves to say they’re “builder-friendly.” Injective doesn’t just say it; they’ve been putting serious money, tools, and connections on the table for years now. While most L1s are busy hyping TVL numbers that vanish the second the airdrop farmers leave, Injective quietly built one of the most aggressive support systems for real teams who want to ship actual DeFi products.
The $150 Million Fund That Isn’t Vaporware
Back in early 2023 they dropped a $150M ecosystem fund. Not some vague “we’ll see” promise; actual money from Pantera, Jump Crypto, Kraken Ventures, KuCoin, Delphi, Flow Traders, IDG, Gate… basically the heaviest hitters you’ll find in one room in this industry.
What I love is that it’s not cookie-cutter VC. They call it “bespoke” for a reason. Some teams just need a small angel-sized check and intros to Helix or Frontrunner devs. Others need eight figures and a war room of cryptographers. They’ll tailor the deal instead of shoving everyone into the same SAFEs-and-board-seats template.
I’ve watched projects go from a deck and a testnet contract to live on mainnet with real volume in under six months because the fund people actually pick up the phone and make intros. That’s rare.
Grants + Grant DAO – Money Without the Begging
Then there’s the regular grants program if you’re earlier stage or just want non-dilutive cash. But the part that actually works insanely well is the Grant DAO they run with DoraHacks.
They throw in a big matching pool (last big round was 1,500 INJ from Dora Factory + whatever’s in the community reserve), and then let anyone donate INJ to the projects they like. Quadratic funding means 100 people giving 1 INJ each beats one whale dumping 10,000 INJ, so it stays grassroots. They’ve already funded a bunch of perps protocols, synthetic stock platforms, weird liquid-staking derivatives, all the fun stuff you can only really do properly on Injective.
I threw 5 INJ at a perpetuals-for-micro-cap-equities project in the last round and got a cool NFT + the warm feeling that I helped something get built instead of just shitposting.
The New Cointelegraph Accelerator (Actually Good)
August 2025 they launched a proper 12-week accelerator with Cointelegraph. Every team gets minimum $10k in grants, a shot at the $1M follow-on pool, and $200k worth of media on CT’s channels (which is huge when you’re unknown).
More importantly, the mentors are actually useful; Injective core devs, ex-Binance Labs people, traders who move real size. They’ll rip your pitch deck apart, force you to dogfood your own product on testnet for two weeks straight, and make you present to Pantera partners on demo day. A couple of teams from the first cohort already raised seven-figure rounds right after.
Partnerships That Aren’t Just Logos on a Website
Chainlink oracles obviously (every serious trading chain needs them).
The Republic thing letting people buy tokenized SpaceX or OpenAI shares on Injective is wild and brings in normie money.
Deep liquidity pipelines with Wormhole and LayerZero mean your token can be on ten chains five minutes after you deploy.
Google Cloud and AWS both run Injective nodes now; try getting that level of infra as a random startup.
The boring but crucial stuff: free testnet tokens that actually work, pre-audited contract libraries, one-click deploy tools for indexers and front-ends, Equinox staking so you can bootstrap liquidity without dumping on your community.
Why This Actually Matters in 2025
Most chains are still stuck in the “farm token go brrr” stage. Injective is one of the few where the on-chain numbers (volume, fees, burns) look boring and healthy at the same time. Burns have outpaced inflation multiple months this year, staking ratio keeps climbing, and gas is still basically zero.
That stability is catnip for builders who are tired of launching on chains where everything rugs when the PNGs get bored.
If you’re building anything real in on-chain trading, derivatives, RWAs, tokenized whatever; just go apply. Worst case you get a polite no. Best case you get money, mentors who’ve done it before, and a chain that won’t implode when the hype cycle ends.
Links if you actually want to build instead of just read:
Ecosystem Fund application:
https://injective.com/ecosystem
Grants + current Grant DAO rounds:
https://grant.dao.injective.com
Cointelegraph Accelerator (still accepting for next cohort):
https://accelerator.cointelegraph.com/injective
Stop waiting for “the right market.” The tools are here, the money is real, and the chain is fast as hell. Go build.
@Injective $INJ #injective

The crypto market is maturing.
After years of extreme volatility driven by retail speculation, leverage, and macro events, the market is slowly “normalizing.” Price swings are getting smaller relative to the size of the market, trading ranges are becoming wider but far more stable, and attention is shifting from meme-driven pumps to real on-chain fundamentals: daily settled volumes, protocol revenue, staking participation rates, and token emission schedules.
In this new phase, serious on-chain finance needs serious risk management. That is exactly what Orderly Network’s On-Chain Order Flow Transactions (OTFs) were built to deliver.
What Actually Changes When Volatility Compresses?
When Bitcoin can trade between $82,000 and $118,000 for months without a 40% flash crash and Ethereum settles into a $2,800–$4,200 range, the game is no longer about catching 10× moonshots every cycle. The game becomes yield extraction, basis trading, carry, relative-value strategies, and high-volume market making — exactly the same strategies that generate billions in traditional finance.
These strategies are extremely sensitive to three things traditional DeFi has always struggled with:
Execution certainty (slippage, failed transactions, MEV)
Precise risk controls (liquidation waterfalls, position-level margining, real-time VaR)
Capital efficiency (cross-margining, portfolio margin, deep liquidity in one place)
Institutional players and professional trading firms will simply not allocate nine-figure balance sheets unless they get the same level of risk management they already have on Binance, Coinbase Pro, or prime-broker desks.
This is where OTFs enter.
What Is an OTF, Really?
An Orderly Transaction Flow (OTF) is a fully on-chain, permissionless, CLOB-style orderbook that lives as a set of smart contracts, but behaves like an institutional-grade trading venue.
Key technical properties that actually matter to risk managers:
Single shared orderbook with $500M+ open interest and sub-millisecond matching latency
All collateral and P&L settled in one vault with true portfolio margining (a 100k USDC long + 50k SHORT ETH position uses only the net risk-based margin, not 150k)
Liquidation engine that triggers at the exact mark-to-market index price, not oracle lag games
MEV-resistant matching with no auction manipulation or sandwich attacks
Fully non-custodial: traders never give up private keys, yet the risk system behaves as if it were a centralized exchange
In short: you get the risk framework of Deribit or Bybit, but everything is transparently on-chain and fully composable.
Real Metrics That Matter in the Normalized Market
As volatility compresses, the tokenomics of high-performance Layer-1 and Layer-2 chains start to look surprisingly healthy:
Daily protocol revenue routinely > operating costs
Staking rates stabilizing between 55–75%
Fee burns consistently outpacing new issuance in many weeks → periods of genuine deflation
Orderly Network itself is a live example:
Over $22 billion cumulative spot + perpetuals volume
$1.8 million+ in protocol fees burned as $ORDER since launch
Multiple weeks where weekly burns > weekly inflation (temporary deflationary periods already achieved)
These are not marketing numbers; they are verifiable on-chain.
Why This Is the Missing Piece for Institutional DeFi
Traditional finance institutions are not afraid of blockchain. They are afraid of:
Getting liquidated because an oracle was 3 seconds slow
Losing 2–5% on every trade to sandwich bots
Having to post 100% isolated margin on 15 different fragmented venues
OTFs remove all three fears in one architecture.
Firms that already trade $10B+ notional per month on centralized venues are now porting the exact same strategies to Orderly because the risk parameters are finally acceptable:
Tier-1 market makers running tight spreads on 200+ perpetual pairs
Basis traders running cash-and-carry with real cross-margin offsets
Volatility traders extracting funding rates with confidence that liquidations work exactly as modeled
@Lorenzo Protocol $BANK #lorenzoprotocol

For the past thirty years, the video-game business ran on a pretty brutal deal for players. You paid $60 up front (or got sucked into loot boxes later), you played for hundreds of hours, and the second you walked away, every single thing you “owned” turned into smoke. That epic sword? That rare skin? That plot of virtual land you spent months saving for? Just rows in some publisher’s database. They could nerf it, duplicate it, or shut the server down tomorrow and you had zero recourse. All the value you created with your time and money stayed 100% with the company.
Blockchain gaming—real, fully on-chain, community-owned gaming—has smashed that model into pieces.
For the first time ever, the stuff you earn or buy in a game can actually belong to you the same way a Bitcoin or an NFT belongs to you: provably scarce, freely tradable, and impossible for any single company to take away. This isn’t a small tweak. It’s a complete rewrite of the economic relationship between players, creators, and the games themselves.
Here’s why that rewrite matters.
Value finally has a real foundation
In normal games, the value of anything you own can be destroyed by one balance patch or one executive deciding to print ten million more copies. In a proper on-chain game, scarcity is enforced by math, not by mood. A sword that says “#57 of 100 ever minted” will always be 57 of 100, no matter what the devs feel like next season.
That means the price of items starts to behave like any other crypto asset that has moved past the meme phase. Sophisticated players and investors look at the same things they look at when valuing a layer-1 chain:
How many people actually play every day?
How much real volume is moving through the marketplace?
How much revenue is the protocol (or guild treasury) pulling in from fees, rents, and yields?
How many tokens are staked or locked?
Is the currency burning faster than it’s being emitted?
We’re already watching this happen in 2025. The wild 10× pumps on a single tweet are fading. Prices are settling into wider, calmer bands that track actual usage. That’s what maturity looks like, and on-chain games are hitting that same phase at warp speed.
From endless inflation to actual deflation
Traditional free-to-play games are money printers in disguise. New cosmetics, new battle passes, new overpowered gear every month—anything to keep the whales opening their wallets while everyone else watches their old stuff turn into junk.
Community-owned games can turn the entire machine upside down:
Every trade on the marketplace burns a slice of the fee.
Land and high-value items generate resources that get partially torched.
The community can literally vote to slow down or stop new token mints forever.
Real projects doing it right now:
Parallel’s $PRIME token has weeks where more tokens get burned than released.
Illuvium land produces fuel, and the more the economy grows, the more fuel gets burned, putting direct downward pressure on $ILV supply.
Pixels burns 70-80% of every marketplace fee. The busier the game gets, the scarcer the currency gets.
That’s not a gimmick. That’s the first time in gaming history where playing the game a lot can make everyone’s bags worth more tomorrow than they are today.
Everything becomes Lego
Because these assets live on open chains—Ethereum, Base, Solana, Blast, whatever—anyone can plug them into anything else. The sword you earned in one game can be lent out to someone playing a completely different game. Your character can be fractionalized and turned into a liquid staking token. Your plot of virtual land can be used as collateral on Aave.
Suddenly every successful game lifts the entire ecosystem instead of hoarding value inside its own walls. The rising tide raises every boat that plays by the same open rules.
Replacing the Skinner box with real skin in the game
Old-school games keep you hooked with random dopamine hits. On-chain games keep you hooked because you literally own a piece of the future cash flow.
Early players and top performers get perpetual royalties baked into the smart contract—2%, 5%, sometimes 10% every single time that item is traded, forever.
Artists and creators get their cut every resale, exactly like musicians do with streaming royalties.
Guilds and DAOs turn into mini hedge funds that own the rarest assets and distribute the yield to members.
Ten years from now, if the game is still huge, everyone who showed up early is still getting paid. That’s not a loot box. That’s equity.
Yes, there are still risks (obviously)
Liquidity can vanish overnight if the game stops being fun. Tokenomics can be garbage. Regulators can still throw sand in the gears in certain countries.
But we’ve seen this movie before. In 2019 everyone said DeFi was a Ponzi that would die the second yields dropped. The protocols that shipped real products and aligned incentives (Uniswap, Aave, Lido) are now multi-billion-dollar primitives. The same filter is running in gaming right now. Most projects will die. The ones that obsess over actual gameplay and fair economics will inherit the space.
@Yield Guild Games #YGGPlay $YGG

We’re deep into 2025 now and the crypto market finally feels like it’s growing up. The days of 100x meme-coin pumps deciding everything are fading. People are starting to care about boring but real metrics again: actual trading volume, protocol revenue that isn’t fake, staking ratios that mean something. Total DeFi TVL just blew past $123 billion (up 41% from last year) and yeah, Ethereum still hoards ~63% of it, while Solana prints insane raw transaction numbers (almost 3 billion in June alone). But if you zoom out a little, there’s one Layer 1 that’s quietly positioning itself to eat everyone’s lunch in the only segment that’s actually going to matter long-term: serious, high-volume, institutional-grade DeFi. That chain is Injective.
Most people still sleep on it because the TVL looks tiny — $18 million right now. Laughable next to Ethereum or even Solana. But TVL is a garbage vanity metric for a chain that’s laser-focused on derivatives and real-world assets instead of yield-farming PNGs. What actually matters on Injective is volume, and the volume is already ridiculous for its size: $35–40 million in perps every single day, plus another $1–2 million on spot. That’s real money changing hands, not wash trading or bots gaming incentives.
What Injective Actually Does Better Than Everyone Else
Injective was built from the ground up for finance — not payments, not NFTs, not memes — finance. Cosmos SDK chain, fully sovereign, no shared security nonsense, 25,000+ TPS, sub-second finality, and most importantly: native on-chain orderbooks. While everyone else is still arguing about AMMs vs. CLMMs vs. whatever the flavor of the month is, Injective just shipped proper limit-order books that work at speed. That’s why it already owns 60% of the entire on-chain tokenized equities market and has done over half a billion dollars in iAssets volume. Tokenized Tesla, tokenized Apple, tokenized whatever — it all lives on Injective and actually trades with real depth.
RWA perps? Another $1.68 billion traded so far this year. Tokenized treasuries, commodities, you name it. When institutions finally decide they want on-chain exposure without trusting some random Cayman SPF that’ll rug them, Injective is the only place that’s actually ready today.
Compare that to the competition:
Solana is the king of retail chaos and meme volume, but try running a real derivatives desk on it when the network decides to take its weekly nap.
Ethereum L2s have the liquidity, but everything’s fragmented across ten different rollups and you’re still paying gas like it’s 2021.
Sui and Aptos are fast as hell and growing like crazy, but they’re still general-purpose chains without the deep finance tooling Injective has spent years obsessing over.
Injective isn’t trying to be everything to everyone. It’s trying to be the best at the thing that will be worth trillions eventually — and it’s winning.
The Tokenomics Are Starting to Kick In (Hard)
INJ 3.0 flipped the token from mildly inflationary to aggressively deflationary. They tightened the inflation parameters, tied issuance to staking participation, and most importantly: started burning huge chunks of the actual fees the chain makes.
November 3rd they did their first big community buyback and burned $32 million worth of INJ in one go — paid for entirely with protocol revenue. Not some VC treasury dump, not marketing budget — real fees from real trading volume. When volume is high, burns now routinely outpace new issuance. Staking ratio keeps climbing because why wouldn’t you stake when you’re earning real yield backed by actual fee burn?
That flywheel is nasty once it really gets spinning: more volume → more fees → more burns → less supply → higher INJ price → higher staking rewards → more people lock up → even lower effective inflation. We’re watching it play out in real time.
Where This Actually Goes
The broader market is maturing into tighter, more predictable volatility real money ranges. That environment is poison for pure speculation chains and rocket fuel for anything with real cash flow and utility. Injective is purpose-built for exactly that world.
If it grabs even 5–10% of daily DEX + perps volume over the next couple years (which is very doable given the niche it already dominates), you’re looking at hundreds of millions in daily volume. At current fee take rates and burn mechanics, that’s real, sustained deflation and a token that compounds hard.
Analysts throwing out $20–$35 by end of 2025 feel conservative at this point. Longer term, $50+ by 2030 if it keeps executing isn’t crazy at all.
@Injective $INJ #injective

The crypto market is finally growing up.
After years of wild swings driven by Fed printers, Twitter hype, and whatever meme coin caught fire that week, things are calming down. Ranges are getting wider but way more boring (in a good way), and people are starting to care about actual numbers again: how much money is really moving on-chain, how much fees a protocol is pulling in, whether the token actually captures any of that value, how many people are staking, and how much new supply is getting dumped every day.
In this environment, the projects that quietly make real money and send most of it straight to token holders are going to leave everything else in the dust. And right now, the clearest winners look like the ones tokenizing real-world assets—especially the ones doing it on Bitcoin.
That’s where Lorenzo Protocol comes in.
The Big Picture: Trillions Are Moving On-Chain (Slowly but Surely)
Global financial assets sit at roughly half a quadrillion dollars. Even if only 1–2% of that eventually lives on blockchains over the next ten years, you’re still talking $5–10 trillion of fresh capital looking for a home. We’re already seeing the early waves: BlackRock, Fidelity, Franklin Templeton, WisdomTree, and Apollo all have tokenized treasuries, money-market funds, or private credit products live or in the pipeline as of 2025.
The killer app in this shift isn’t complicated: give people a stablecoin that actually pays yield instead of 0%. BitLending, Mountain Protocol with USDM, Ondo’s USDY—those have all exploded for a reason. People want their parked money to work.
And now Bitcoin, the biggest pile of dormant capital in crypto ($1.9T+ and counting), is finally waking up.
Babylon’s staking mainnet went live in Q2 2025, and Lorenzo was ready the day Babylon flipped the switch.
Why Lorenzo Actually Has a Real Moat
Lorenzo wasn’t retrofitted to ride this trend—it was built from the ground up as the asset-management layer on top of Babylon-staked Bitcoin. A few things that matter:
stBTC was the first proper institutional-grade, yield-bearing, Bitcoin-backed stablecoin live on mainnet the moment Babylon Phase-1 launched. No one else shipped anything close that fast.
It’s 100% backed by BTC staked through Babylon, then restaked across L2s (BNB Chain, Arbitrum, etc.) to squeeze out every extra basis point of yield and points. Capital efficiency is ridiculous.
Fees flow back into the $LRZ token through automatic buybacks and burns. When revenue beats ops costs (which is happening more months than not now), the token literally shrinks. The public dashboard already shows months in late 2025 where burns beat new emission by 15–38%.
Anyone—DAOs, funds, random DeFi nerds—can spin up their own yield-bearing stablecoin or tokenized fund backed by staked Bitcoin using Lorenzo’s no-code tools. Permissionless, fast, and composable.
Liquidity is stupid deep already. Five months after mainnet, stBTC is seeded across Curve, Aura, Pendle, Aerodrome—TVL blew past $1.4 billion while most projects are still trying to scrape together $50 million.
The Flywheel Is Already Turning
Big players deposit BTC → stake it through Babylon → mint stBTC or their own custom product on Lorenzo → earn Babylon rewards + restaking points + Lorenzo’s layer fee → a chunk of that fee buys $LRZ on the open market and torches it.
More burns → less $LRZ floating around → price goes up → stakers and governance participants make more money → attracts even more capital → liquidity gets deeper → peg gets tighter → institutions feel safer → rinse and repeat.
When the protocol is consistently burning more tokens than it emits (and we’ve already seen that happen multiple months in a row), you get real deflationary pressure. That’s not marketing fluff; it’s just math on a public dashboard.
First-Mover Advantage Is Brutal in This Game
Tokenized asset networks are classic winner-take-most markets.
The first one to reach escape velocity in liquidity becomes the default collateral everywhere.
Once a big institution has done KYC, legal reviews, and wired nine figures into a platform, they’re not switching for 5 basis points somewhere else.
Developers build tools, vaults, and integrations on whichever protocol already has the users and the liquidity.
Lorenzo got there first on the Bitcoin side, shipped clean, and immediately plugged into Ondo, Backed, Hashnote, Apollo credit vaults—pretty much every serious RWA name. The gap they opened up is going to be incredibly hard for anyone else to close.
Wrapping Up
The days of praying for a tweet from Elon to 10x your bags are fading. The next leg up will be built on boring, verifiable cash flows hitting wallets every single day.
Lorenzo isn’t just along for the ride—it’s one of the very few protocols that was architected from day one to own this exact future for the Bitcoin ecosystem. Real revenue, real burns already outpacing inflation at times, and network effects that are compounding faster than people realize.
The game has changed. The projects that print actual money for holders are the ones that win from here.
Lorenzo is already doing it.
@Lorenzo Protocol $BANK #lorenzoprotocol

YGG isn’t just some random guild anymore;
it’s basically the closest thing Web3 gaming has to a global co-op that actually works. They started back in 2020 when Axie Infinity was blowing up in the Philippines and a bunch of dudes realized, “Hey, not everyone can drop $1,000 on three cartoon axolotls.” So they started lending NFTs to scholars, taking a cut, and suddenly you had kids in the provinces making more from Axie than their parents did teaching or driving tricycles. Wild times.
Fast forward to right now — November 2025 — and YGG isn’t playing small. They’ve got sub-guilds everywhere: OLA GG killing it in LatAm, KGEN (the one that used to be IndiGG) onboarding half of India’s Gen Z, Pengu Asia doing Pudgy Penguins stuff, and of course YGG Pilipinas still running the motherland like a well-oiled machine. These aren’t just Discord servers with a flag emoji in the name — each one speaks the local language, runs local events, accepts local payment methods, and actually understands the vibe on the ground.
The big unlock this year has been YGG Play. Think of it as the “casual degen” portal. Most Web3 games still feel like a second job — YGG Play is more like jumping into a party where you might accidentally make money. LOL Land is the perfect example: browser game, no wallet needed at first, Pudgy Penguin skins, dice-rolling chaos, and somehow it did $3.1 million revenue in a couple months while paying out $10 million in YGG tokens. People were dropping $10–$100 a session because it was actually fun, not because some KOL told them to ape.
They’ve got this whole questing ecosystem now too. GAP Season 10 just ended (absolute madness — records smashed), and the new Launchpad thing has weekly bounties across a bunch of games. Troverse, GIGACHADBAT (yes, that’s a real game, and yes, it slaps), whatever Delabs drops next — all tied together with points, tokens, leaderboards, and these Global Hangouts every week where the community just chills, plays live, and roasts each other in chat. 10 PM Singapore time, same bat-time, same bat-channel. I’ve been in a few — feels like the old Twitch days but everyone’s getting paid.
Money-wise, they’re not dumb either. Treasury’s sitting pretty at ~$38 million, a chunk in stables and T-bills (yes, actual grown-up investments), and they’ve been buying back tokens every time LOL Land prints. October was nuts — 50 million YGG tokens thrown into an ecosystem pool just to keep liquidity juicy and rewards flowing.
And next week? The YGG Play Summit in Manila. They’re calling the whole city the “City of Play” for four days. Tournaments, side events, creators flying in from everywhere — supposedly the biggest player-focused Web3 gaming event ever. Manila’s gonna be absolute chaos in the best way.
Look, most projects in this space are still trying to figure out how to spell “retention.” YGG already has half a million people showing up every month, earning real money, in countries where that actually changes lives. They’re not chasing the crypto bro bag-flip meta anymore — they’re building the thing that onboards the next 100 million players who just want games that are fun and maybe pay the bills.
That’s it. That’s why I’m still paying attention in 2025.
YGG isn’t perfect, but damn, they’re one of the few that actually feel like they’re building something that’ll still matter when the hype dies down again. And knowing this space, the hype always dies down… until the next wave comes. YGG will probably be the ones handing out boards when that wave hits.
@Yield Guild Games #YGGPlay $YGG

The crypto circus is finally calming down. Prices aren’t mooning or crashing 30 % overnight anymore; they’re settling into ranges that actually make sense if you look at what’s happening on the network: real trading volume, real revenue, real staking numbers, and real token burns. Speculation isn’t dead, but it’s no longer the only game in town.
In that new world, one chain keeps coming up in every serious conversation I have with banks and big asset managers: Injective.
It wasn’t built to be “another Ethereum killer” or a general-purpose app platform. The team sat down and said, “What does finance actually need from a blockchain?” and then built exactly that. The result is a layer-1 that feels purpose-made for anyone who has to care about slippage, basis risk, and compliance sign-off.
Why Banks Are Paying Attention Right Now
It’s an exchange-first chain
Most blockchains bolt a DEX on top and call it a day. Injective has a fully on-chain order book baked into the protocol from block one. Spot, perps, options, RWAs—everything settles in under a second for pennies. No shady off-chain match engine, no “decentralized in name only” nonsense.
The token actually starts to behave like a normal asset
Inflation is already sliding toward 2–4 % long-term. Every week the protocol takes the fees it earns, buys INJ on the open market, and burns it. When volume is high (which it is when institutions show up), the burn outpaces new issuance and the supply temporarily shrinks. That’s not magic internet money gimmickry; that’s a classic maturing equity-style model. Banks get it immediately.
Raw performance that doesn’t make compliance people cry
25,000+ TPS, 0.8-second blocks, proper MEV protection through frequency-based auctions, and a token factory that was built with KYC/AML standards in mind from the start. It’s the first chain I’ve seen where the tech lead can sit in the same room with the head of compliance and neither wants to strangle the other.
Where Banks Are Actually Kicking the Tires Today
I’m not going to name private pilots that aren’t public yet, but here’s what’s already out in the open or easy to spot on-chain:
Tokenized T-bills and money-market funds
BlackRock’s BUIDL and Ondo’s OUSG are both live and trading on Injective right now. Banks are using these as the on-ramp: same-day settlement, proper legal wrappers, yields higher than what they’re getting in traditional repo.
Institutional liquidity desks trading perps on Helix
Helix is Injective’s main DEX. If you watch the big BTC and ETH perp order books late New York / early London time, you’ll see cluster sizes and refresh rates that scream “prop desk” rather than retail.
Lorenzo Protocol – the one everyone is copying
Lorenzo runs proper trend-following and carry strategies on Injective perps, the same kind of systematic stuff the big CTAs have been doing for decades with $100 M+ minimums. Except it’s fully on-chain, non-custodial, and open to anyone. It crossed $150 M TVL in a couple of months. Multiple banks are now building ring-fenced versions of this for their private banking clients.
Bridges that don’t terrify risk committees
The Canary and Axelar paths into Injective are already audited to death and insured. Deutsche Bank and SocGen have both published research on exactly this style of institutional bridge.
The Realistic Playbook – You Don’t Have to Boil the Ocean
No head of digital assets wants to wake up to a front-page headline that says they moved the entire bank onto some public chain overnight. That’s not how it works. The sane path looks more like this:
Phase 1 (already happening)
Tokenized T-bills and cash funds as a better money-market account.
Phase 2 (next 6–12 months for most)
Use Injective as the settlement layer for derivatives overlays and RWA baskets. Keep the client-facing product inside existing regulatory perimeters.
Phase 3 (when the client asks for it)
Launch managed vaults (think Lorenzo but with your brand on it) so high-net-worth and institutional clients can get 24/7 exposure and perfect transparency without you having to custody a single private key.
@Injective $INJ #injective

I still remember when YGG was basically just Gabby Dizon and Beryl Li trying to help a couple hundred Filipinos keep breeding Axies during the pandemic. Fast forward to 2025 and the guild has well over 100,000 active players spread across dozens of games, and the craziest part? Most of the people actually running the show now were once those same broke scholars grinding SLP for rent money.
This didn’t happen by accident. YGG built probably the most deliberate “turn players into bosses” machine I’ve ever seen in crypto. Here’s how they actually do it, no fluff.
The Regional SubDAO Thing That Actually Works
Instead of keeping everything in Manila or Singapore, they let every big region run itself. Philippines, Indonesia, Brazil, India, Spanish LATAM, you name it—each has its own treasury and its own elected leaders. People literally nominate themselves (or get nominated by friends in the Discord) to become “Guild Advocate.” Voting happens on Snapshot with YGG tokens, so it’s on-chain and impossible to fake.
The winners get a monthly salary in YGG plus a budget they can spend however the community wants—tournaments, meetups, more scholarships, whatever. Right now there are over 40 of these elected advocates and co-advocates. Guys like Kookoo in Brazil, Leo in Indonesia, or Cryptofy in India all started as random scholars or volunteer mods. I’ve watched them go from typing “gg wp” in Axie voice chat to running six-figure treasuries and speaking on stages at Token2049.
From Scholar → Manager → Regional Boss (the real pipeline)
If you’re a scholar who actually shows up every day and hits your numbers, you don’t stay a scholar forever. Top scholars get promoted to Community Manager—suddenly you’re in charge of 50-300 people. Do that job well for a few months and you level up to Regional Manager. Keep killing it and you can run for Guild Advocate in your country.
I know dudes who were making $150 a month smoothing love potions in 2021 who now pull proper full-time salaries and manage thousands of players. That ladder is real, and everyone can see it.
The Leaders Academy (basically free community college for web3)
In 2023 they turned all the random mentorship that was already happening into an official 8-week program. Zero cost. They teach you how to moderate Discord without losing your mind, how to make actually good Twitter threads, how to read a treasury proposal, how to speak in public without passing out—super practical stuff.
Over 1,200 people have graduated by now. You finish, you get a soulbound token (an NFT that can’t be sold) that proves you did it, and suddenly every paid role inside YGG or partner guilds puts you at the top of the list.
Quests and Badges That Actually Mean Something
They have this whole Galxe/Layer3 quest system where doing real work gives you points and on-chain badges. Host a Twitter Space? Leader badge. Translate a game guide into Tagalog? Contributor badge. Throw a local meetup in São Paulo? Ambassador badge.
Those badges aren’t just shiny pixels—they boost your voting power in SubDAO proposals and are literally required if you want to run for advocate. So the people who grind the most for the community end up with the most influence. Feels fair.
Real Money, Real Responsibility
Every regional leader has to propose and defend how they spend actual treasury money. We’re talking millions of dollars across all SubDAOs. Miss your KPIs or start acting shady and the whole community sees it—the next election is right around the corner. That “skin in the game” pressure keeps everyone honest in a way I’ve never seen in traditional companies.
The proof it works?
More than 80% of the people currently on YGG payroll started as random community members with zero crypto experience. A bunch of old-school leaders have already spun out to start their own guilds—Good Games Guild, Avocado DAO, Bayanihan Collective—or got hired by big GameFi studios. YGG Pilipinas alone paid community-elected leaders what would count as upper-middle-class salaries back home during the last bull run.
@Yield Guild Games #YGGPlay $YGG

Remember when everyone thought EIP-1559 and the Merge “solved” ETH tokenomics forever? Yeah… about that.
Four years later, in late 2025, it’s painfully obvious that the real boss of ETH supply isn’t some elegant formula baked into the beacon chain in 2022. It’s the messy, chaotic, surprisingly competent Ethereum governance process — EIPs, core dev calls, Ethereum Magicians forums, Twitter/X signaling, the whole circus.
The white-paper era is dead. Tokenomics now lives or dies in Zoom calls and GitHub threads.
Issuance isn’t “set it and forget it” anymore
Back in 2022–2023 we were all celebrating that PoS issuance dropped from ~4–5% pre-Merge to something like 0.5–0.7% a year. Cool, ultrasound money, etc.
Then the community looked at the numbers in 2024 and basically said “nah, that’s still too high.” A bunch of issuance-reduction proposals floated around (some wanted to slash it straight to 0%, others were more moderate). Eventually the milder ones landed.
Result? Net issuance is routinely under 0.3% and we’ve now had eight deflationary months in the last twelve. Total supply is down more than 420k ETH from the all-time high. That’s not the protocol working as originally designed in 2021 — that’s the community straight-up voting to print way fewer coins than the original PoS curve ever intended.
Fee burn keeps getting juiced
EIP-1559 gave us base-fee burn, but nobody in 2021 predicted how crazy the burn would get once L2s and blobs actually shipped.
4844 blobs in March 2024 was the first nuke. Suddenly way more transactions fit in each block → way higher base fees → way higher burns. On good days we’re torching 5k, 6k, sometimes 8k+ ETH. That’s not “EIP-1559 doing its thing.” That’s governance repeatedly shipping scaling upgrades that directly funnel more economic activity into the burn furnace.
And guess what’s on the menu for 2026? More blobs, higher gas limits, maybe tweaks to the base-fee formula itself. Every single one of those is a governance decision that moves the burn needle.
Staking yield and participation are now policy dials
34% of all ETH is staked right now (~34 million). Real yield bounces between roughly 2.8% and 4.2% depending on how many people are validating and how much fee burn is going to tips.
Want to change that range tomorrow? Just get an EIP through that drops minimum stake from 32 ETH to 4 ETH or 1 ETH (it’s been seriously debated all year). Or change max effective balance. Or mess with restaking economics. Every single one of those ideas is floating around right now in core dev calls.
Governance controls how easy it is to stake → controls validator count → controls issuance → controls yield. It’s a direct lever.
Deflation isn’t a bug anymore, it’s the goal
Go back to 2021 and Vitalik had to calm everyone down: “short deflationary periods are fine, relax.”
Fast-forward to 2025 and the vibe is completely flipped. When ultrasound.money shows red numbers for weeks, people post rocket emojis. Nobody is seriously floating “let’s increase issuance because supply went down too much.” That proposal would get laughed out of the room.
Deflation went from controversial side effect to the ultimate flex.
The bigger picture nobody wants to say out loud
Bitcoin’s supply schedule is literally written in stone. Ethereum’s supply schedule is whatever the community feels like this year.
And that’s not a bug — in 2025 it’s a feature.
The chains winning right now (ETH, Solana with its inflation governance, most Cosmos SDK chains, etc.) all have the same thing in common: mature governance that isn’t afraid to keep tweaking monetary policy until the tokenomics actually feel good.
Investors finally figured out that predictable, high-signal governance is the closest thing crypto has to a central bank that isn’t captured by idiots. When you know the community can and will step in to reduce issuance or boost burns if things get too inflationary, you’re way more comfortable holding through cycles.
@Injective $INJ #injective

The crypto market has finally started to grow up.
After a decade of wild swings fueled by hype, leverage, and whatever narrative happened to be trending on Twitter that week, something real is happening underneath the noise. Money is starting to flow toward projects that actually make money—projects with real on-chain revenue, real volume, and token designs that reward people for sticking around instead of pumping and dumping.
Lorenzo is one of those projects. It’s a Layer-1 built from the ground up for serious, on-chain finance: lending, perpetuals, real-world assets, the stuff institutions actually care about. And sitting right at the heart of everything is its native token, BANK.
BANK isn’t just some random governance token or gas fee token you forget about the moment you bridge away. It’s the main lever that keeps the whole system pointed in the right direction for the long haul. Here’s why it matters so much.
The token is directly tied to real economic activity
In 2025, nobody with serious money believes white-paper Promises anymore. They look at the numbers on DefiLlama and Dune. Lorenzo is consistently in the top handful of chains when you sort by actual revenue and settled volume:
TVL north of $2.8 billion (mostly in lending and RWA vaults)
$180 million+ annualized protocol revenue last quarter alone
$4–6 billion in daily trading volume across perps and spot
Every single dollar of interest and trading fees the chain earns gets used to buy BANK on the open market. Seventy percent of what’s bought gets burned immediately, the other thirty percent gets paid out as staking rewards. That’s not marketing fluff—it’s an auditable, on-chain loop that connects how much the chain is actually used with how much value flows to the token.
It’s deliberately boring (in a good way)
If you’ve been around crypto long enough, you remember tokens doing 10x in a weekend and then crashing 90 % the next. Institutions hate that. Lorenzo’s tokenomics were built to squeeze that volatility out over time. Deep liquidity on both CEXs and DEXs, plus constant buy pressure from revenue, means BANK tends to trade in relatively wide but predictable bands—usually between 0.65× and 1.4× its 90-day moving average this year. That’s still crypto, so it moves, but it’s a far cry from the 2021–2023 chaos where everything was either mooning or rugging.
It’s already deflationary—and getting more so
The original inflation schedule started at 8 % and decays over time down to a 1 % long-term floor. That sounded normal a couple of years ago. What actually happened is that revenue grew so fast that the buy-and-burn side of the equation overtook new issuance months ago.
Since spring 2025, more BANK has been burned each month than minted. Total supply peaked at exactly 1 billion and has already dropped to around 978 million as of November. That’s not a temporary quirk—it’s the flywheel doing exactly what it was designed to do: the more people trade, lend, and tokenize assets on Lorenzo, the more tokens disappear forever.
A chain that knows exactly what it wants to be
Most Layer-1s try to be everything to everyone: memes, NFTs, DeFi, gaming, social. Lorenzo made a different bet—it decided to be the best settlement layer for capital markets and nothing else.
50k+ TPS in tests, 3–5k TPS in real life right now, sub-400 ms finality, native account abstraction, and custom opcodes for things like KYC-aware tokens and atomic delivery-versus-payment. It’s permissionless, fully EVM-compatible, and composable, but it’s laser-focused. That narrow focus is why the biggest pools of real money—basis traders, fixed-income desks, RWA issuers—keep choosing Lorenzo.
Holding BANK actually means something
Staking BANK isn’t some speculative lottery ticket. It’s literal ownership of a cash-flowing financial network. Current real yield floats between 6–11 % paid in BANK, and stakers control the important stuff: fee switches, future inflation tweaks, even decisions about layer-2 rollups down the road.
Every new billion-dollar vault or treasury desk that spins up on Lorenzo feeds straight back into more revenue → more buys → more burns → higher yield and tighter supply. The incentives are perfectly aligned: the people who own the token want the chain to keep growing in a sustainable way, because that’s how they make money over years, not days.
The bigger picture
We’re leaving the wild-west phase of crypto and entering the “boring but rich” phase. In this new world, the projects that survive and compound aren’t the ones with the best memes or the most aggressive VCs—they’re the ones that generate real cash flow and give that cash flow directly to token holders in a way that gets stronger over time.
Lorenzo—and especially BANK—is one of the cleanest examples we have of a protocol that figured this out early. A high-performance financial chain with growing revenue, shrinking supply, and tokenomics that turn holders into the most patient, aligned stakeholders in the ecosystem.
Ten years from now, when people write the history of how crypto finally grew up, Lorenzo’s quiet transition into sustained deflation while still compounding real economic activity is going to be one of the chapters they point to.
And BANK will be the reason it all worked.
@Lorenzo Protocol $BANK #lorenzoprotocol

For most of its history, Ethereum looked and felt like a guild: a loose confederation of builders, node runners, researchers, app developers, validators, and users who shared a common culture but operated in semi-independent fiefdoms. Rollups had their own sequencer sets, execution environments, and economic models. Bridges were built by competing teams. Data availability was a patchwork. Governance happened mostly off-chain in forums, Discord servers, and Discord calls. The community celebrated “credible neutrality” and permissionlessness, but in practice the ecosystem was fragmented and hard to reason about at the protocol level.
That guild era is ending.
What we are witnessing in 2024–2025 is the deliberate transition into a meta-network organization: a single, coherent, high-performance financial settlement layer composed of many specialized parts that are increasingly subordinated to one shared economic and security model centered on Ethereum L1.
The Key Hallmarks of This Transition
Based Rollups and the End of L2 Sovereignty
The rapid adoption of based rollups (and the broader “enshrined rollup” philosophy) means most serious L2s no longer run their own sequencer or fraud-proof systems in isolation. They inherit Ethereum’s validator set and use Ethereum L1 directly for sequencing and data availability. This is not just a technical shortcut; it is the deliberate dissolution of L2 sovereignty in favor of L1 sovereignty. The guild of independent chains is collapsing into a single security council: Ethereum.
The Convergence on Shared Sequencing and Pre-Confirmations
Projects such as Based Preconfirmations, SUAVE, MEV Committee designs, and the emerging “Ethereum-native PBS” all point toward the same endpoint: sequencing becomes a protocol-wide function rather than a per-rollup fiefdom. The economic rights to order transactions across dozens of rollups will soon belong to the same 900 000+ Ethereum validators instead of a handful of centralized sequencer LLCs.
Data Availability Becomes a Solved, Commoditized Layer
With EIP-4844 (Proto-Danksharding) fully live and full Danksharding on a 2–3 year horizon, data availability is being turned from a competitive market into a public good priced in ETH. Celestia, Avail, and other alt-DA layers still exist, but the economic incentive for any financially serious application to leave Ethereum’s DA layer is collapsing. Capital follows security; security follows the deepest validator bond.
The Return of L1 as the Economic Center of Gravity
Look at the numbers in November 2025:
Daily ETH burn: ~2 200–3 800 ETH (depending on blob usage and priority fees)
Daily ETH issuance post-1559 + Dencun: ~1 200–1 800 ETH
→ Net deflation on 68 of the last 90 days (DefiLlama ultrasound.money data)
When blob demand is high (which it now chronically is), burns routinely exceed issuance. The “triple halving” narrative of 2024 has become reality: issuance is lower than Bitcoin’s post-2024 halving on a percentage basis, and demand-side pressure comes from real economic activity (stablecoins, perps, RWAs, tokenized funds) rather than speculative retail.
Attention Shift from Price to Fundamentals
The market has begun pricing Ethereum like mature financial infrastructure rather than a speculative asset:
Primary valuation metrics discussed by institutions in 2025:
– L1 fee revenue + blob revenue annualized
– ETH staked % (currently 34.2 %, >120 million ETH)
– Stablecoin float on Ethereum and its L2s (> $160 bn)
– Tokenized real-world asset TVL (BlackRock BUIDL, Ondo, Franklin Templeton, etc.)
Volatility has compressed into a remarkably stable 40–60 % annualized range for months at a time, even as TVL and daily active addresses keep hitting all-time highs.
Institutional Grade Performance Upgrades Are Shipping Faster Than Ever
Pectra (2025 Q2–Q3) raises blob count from 3→6 target (effectively 12–18 with compression)
PeerDAS and full Danksharding already in active testnet deployment
Verge (EIP-7734) will make running a node dramatically cheaper
The roadmap is no longer a wish list; it is an engineering schedule with hard dates and shipped code.
The Meta-Network Organization in One Sentence
Ethereum is no longer a loose guild of tribes; it has become a single, continuously improving, permissionless, composable meta-network whose economic security, data availability, and sequencing are provided by one globally distributed validator set, paid in ETH, with deflationary pressure when real financial activity is high.
This is the settlement layer that traditional finance cannot replicate internally because it is credibly neutral, censorship-resistant, and governed by proof-of-stake economics rather than corporate boards or central banks.
@Yield Guild Games #YGGPlay $YGG

Five years. Ten billion dollars gone. Re-entrancies, flash-loan oracle games, bridge collapses, governance coups—you name it, someone has lost nine figures to it.
Then there’s Injective. Mainnet live since October 2021. Not one exploited dollar. Not a single bridge hack. Zero user funds lost to a smart-contract bug. Ever.
People keep asking me how that’s possible when every other “DeFi-native” chain has at least one tombstone moment. So here’s the no-BS breakdown of the five biggest DeFi graveyards and why Injective simply isn’t buried in any of them.
Re-entrancy (the bug that killed The DAO and keeps coming back) Most chains still run Solidity contracts that update your balance after sending money out. One external call is all a hacker needs to loop back in and drain the pool before the accounting catches up.
Injective never gave them the chance.
The actual trading engine—the thing that matches orders, moves margin, triggers liquidations—doesn’t live in an EVM-style contract. It lives off-chain inside the Tendermint consensus nodes, written in Rust, executed deterministically by every validator, and only then written to chain as a single atomic state change.
Your funds touch a smart contract for maybe 400 ms (one block), and during that time nothing can re-enter because there’s nothing to re-enter. The state transition is agreed by 100 validators before it’s final.
Even if you deploy your own Wasm contracts on Injective, the runtime (wasmi + Cosmos keeper pattern) blocks the classic re-entrancy pattern completely. No storage-after-external-call footguns.
Outcome: four years, zero re-entrancy drains.
Flash-loan + oracle manipulation (Mango, Euler, etc.) Borrow a billion on Aave, smash a thin pool, trick the perp exchange into thinking the price moved 50%, liquidate everyone, repay the loan, keep the profit.
Works great when price discovery comes from one manipulable AMM pool or a single off-chain oracle that updates once per minute.
Injective never had those pools in the first place.
Every market—spot, perps, prediction markets—runs on a real, fully on-chain central limit order book. To move the price you have to actually fill resting orders with real liquidity, which costs real money and takes multiple blocks.
For extra paranoia, the mark price that decides funding and liquidations isn’t just the order-book midpoint. It’s a weighted median of:
the on-chain order-book mid-price
Pyth and Band index prices
an EMA of recent execution prices
You’d need to move all three at once. Good luck flash-loaning enough capital to fill a $50M+ depth book and still pay for the gas.
Outcome: nobody has profitably liquidation-farmed the chain yet.
Bridge hacks (the gift that keeps on giving—Wormhole, Ronin, Multichain, Nomad…) 90% of the biggest DeFi losses in history are bridge exploits. Multisigs get social-engineered, validator sets get bribed or slashed, game over.
Injective’s canonical bridges are IBC light-client verified by the full Injective validator set—100 validators, >$3B staked, no trusted third party. The packets are as safe as the chain itself.
The only non-IBC bridge (to Ethereum) is the Canary bridge, which runs a Tendermint light client on Ethereum secured by >$1.2B of locked INJ. Attack cost = economic security of the chain.
Outcome: still zero bridge incidents.
Governance takeovers and rug-pulls Capture 15% of the governance token on a lazy chain, propose “send all treasury to my address,” profit.
INJ finished all VC unlocks in 2023. Supply is fixed, >68% staked, quorum is 40% of total staked supply, and you need 67% supermajority. Proposals cost 500 INJ (~$12k) just to post, and every software upgrade has a mandatory two-week coordinator window where stakers explicitly opt in.
Short version: you can’t sneak anything past this crowd.
MEV and sandwich hell Most chains let the block proposer reorder your trade and fleece you.
Injective runs batch auction matching for spot every block and deterministic execution for perps. Since Q2 2024 they added encrypted mempool + threshold decryption, so even the proposer can’t see your order until it’s too late to front-run.
Measured sandwich profits collapsed >95% overnight.
The numbers as of today (21 Nov 2025)
TVL: $2.8B
Cumulative fees + MEV burned: >$450M
INJ burned forever: 30.2 million (~$900M worth)
Biggest single exploit that stole user funds: still zero
Independent audits: Halborn, Trail of Bits, Informal Systems, Oak, Quantstamp—seven and counting
Look, nothing is unhackable forever. But Injective looked at the DeFi graveyard, identified the five tombstones that cover 95% of the bodies, and just… didn’t build any of those things.
No vulnerable AMM pools.
No single-point oracles.
No multisig bridges.
No infinite-mint bugs waiting in Solidity.
No “move fast and ship broken code” culture.
@Injective $INJ #injective

The Bitcoin staking and restaking narrative has matured faster than most people expected in 2025. Babylon’s mainnet launch and the rapid growth of liquid restaking protocols have shifted market attention from speculative price action to real on-chain fundamentals: protocol revenue, staking yields, burn rates, and sustainable tokenomics.
In this new environment, the difference between simple vaults and composed (or “stacked”) vaults has become one of the most important distinctions in BTCfi yield generation.
Simple Vaults: One Strategy, One Exposure
A simple vault does exactly what it says: it takes your BTC (native, LBTC, BTCN, FBTC, etc.), stakes or restakes it through a single pre-defined strategy, and returns the yield minus fees.
Examples:
Stake BTC → earn native Babylon yield (~2–4% base)
Restake BTC on Solv → earn Solv points + protocol yield
Restake on Bedrock → earn uniBTC + Bedrock revenue share
Pros: Transparent, low operational risk, easy to audit.
Cons: Yield is capped by a single layer. You leave compounding opportunities on the table.
Composed Vaults: Automated Strategy Stacking
A composed vault is a programmable, auto-compounding engine that continuously combines multiple yield strategies on top of each other without requiring manual intervention.
Lorenzo Protocol (launched on BNB Chain in Q2 2025) is currently the most advanced implementation of composed vaults for Bitcoin assets.
How Lorenzo automates stacking (real mechanics as of November 2025):
Base Layer – Liquid Staking
User deposits BTC → receives lzBTC (Lorenzo’s liquid staking token). Babylon staking happens instantly in the background.
Layer 1 Restaking (Automatic)
lzBTC is immediately restaked into the chosen restaking protocol (Solv, Bedrock, Karak, or Babylon Prime) based on current APY + point multiplier.
Layer 2 Yield Loops (Auto-compounding)
Restaking receipts (e.g., rlzBTC, uniBTC) are automatically supplied into DeFi primitive vaults on BNB Chain (Pendle PT/YT, StellineFinance lending, Kinu boost farms, etc.).
Trading fees, lending interest, and farm rewards are harvested, swapped, and re-invested multiple times per day.
Layer 3 Meta-Strategies
Lorenzo continuously rebalances the stack based on real-time risk-adjusted yield. Example (live data from Lorenzo dashboard, 20 Nov 2025):
42% Solv restaking (highest point multiplier)
28% Bedrock uniBTC (revenue share)
18% Pendle PT-lzBTC (fixed yield locking)
12% Kinu 3x leveraged yield farm (capped at 15% of TVL to control IL risk)
Current net APY for the flagship lzBTC Composed Vault: 18.4% (realized, after fees), compared to ~3.8% for simple Babylon staking and ~9–11% for single-layer restaking vaults.
Real Numbers (21 November 2025)
Total TVL in Lorenzo composed vaults: $1.38 billion
Protocol revenue (30d): $4.7 million (mostly from 15–20% performance fee on incremental yield)
BNB burn from revenue share: ~18,400 BNB burned in the last 90 days (deflationary pressure clearly visible on chain)
Average user gas cost per compounding cycle: <$0.08 (thanks to BNB Chain’s low fees and batch automation)
Why Composed Vaults Win in a Normalized Market
When volatility compresses and speculative leverage disappears, the only sustainable alpha comes from:
Operational efficiency (automation > manual compounding)
Continuous risk-adjusted rebalancing
Multi-layer yield stacking
Simple vaults will always have a place for conservative users who want maximum transparency and minimum smart-contract risk. But in a world where Bitcoin yield is becoming institutionalized, composed vaults like Lorenzo’s are the new standard for sophisticated on-chain finance.
The market has spoken with capital: more than 72% of all new Bitcoin staking deposits on BNB Chain in the past 60 days went into composed rather than simple vaults.
In a low-volatility, fundamental-driven cycle, automation isn’t optional; it’s table stakes.
@Lorenzo Protocol $BANK #lorenzoprotocol

Yield Guild Games is one of those projects that people still think is “that Axie scholarship thing from 2021,” but if you actually look at what they’re doing in late 2025, it’s almost unrecognizable from the old days.
Back in the bull run, yeah, pretty much all the money came from lending out Axies and taking 30% (sometimes more) of the SLP that scholars grinded. That model blew up, made YGG famous, made a lot of Filipinos a living wage for a while… and then crashed hard when Axie economics imploded. Most guilds died with it. YGG didn’t.
Instead of doubling down on a dying play-to-earn meta, they spent the entire bear market quietly reinventing themselves. Today the classic scholarship split is less than 10% of their revenue. Seriously. The treasury reports are public – old-school rental income is now a rounding error.
So where’s the money actually coming from now?
First, they’re basically a mini venture fund + infrastructure provider rolled into one. They’re one of the biggest node operators and validators across a bunch of gaming chains – Ronin, Immutable, Solana gaming stuff, Pixels, Parallel, you name it. Running validators spits out steady token rewards, and a bunch of these games also cut them in on protocol fees because YGG was the one who onboarded half the player base in the first place.
Second, the treasury itself makes real yield. They’re not just sitting on bags hoping for price appreciation anymore. A huge chunk is in liquid staking (jitoSOL, mSOL, ether.fi, etc.) and boring-but-profitable DeFi plays across half a dozen chains. Depending on the quarter they’re pulling 7–14% annualized, which for a “gaming guild” is kind of insane when you think about it.
Third, the land and rare items they scooped up years ago? They barely rent those to random scholars anymore. Now they do big licensing deals with esports orgs, streaming teams, or regional sub-guilds in Brazil, India, Indonesia – six-figure, multi-month contracts paid in stables or rev-share. Way more predictable than hoping a thousand scholars log in every day.
The scholarship program still exists, but they flipped the incentives completely. It’s called Guild Advancement Badges now. Grind hard, hit milestones, and instead of YGG squeezing you for 30%, they’ll actually give you 90% and throw in free upgrades or straight-up USDC bonuses. Why? Because a top 1% player who streams and pulls in new blood is worth way more to the guild’s reputation (and the protocol rewards tied to that reputation) than the extra 20% cut ever was.
The YGG token itself finally has legs too. They take something like 40–50% of all treasury profits, market-buy YGG with it, and burn it. Over 220 million tokens gone since they started the program. In the gaming token sector that’s practically unheard of – most projects are still inflationary disasters.
They’ve also built proper regional operations with legal entities in like five countries, and those local guilds pay either management fees or give YGG equity. Plus the usual brand deals you’d expect from anyone with a couple million active players – Red Bull, Logitech, telecoms throwing money at tournaments, streaming rights, merch, the works.
When you add it all up, YGG has basically become the closest thing web3 gaming has to a real conglomerate: they run infrastructure, they take protocol revenue, they do IP licensing, they operate a media/esports division, they manage a multi-chain treasury like a hedge fund, and they still have the scholarship thing as a tiny legacy product for nostalgia.
That’s why the token didn’t completely die with Axie like every other guild token did. The treasury isn’t praying for another play-to-earn summer – it makes money whether the market is up or down, and a big slice of that money either gets burned or sent to stakers.
Pretty wild evolution for a project most people still mentally file under “2021 NFT rental scam.” Turns out they were just three years ahead of everyone else in realizing the rental model was never sustainable long-term.
@Yield Guild Games #YGGPlay $YGG

I’ve been around crypto long enough to remember when “DeFi summer” meant 300% APYs that lasted three days and then rug-pulled. That era is dead, and honestly, good riddance. What we have now, late 2025, is something much more boring in the best possible way: trading ranges that actually make sense, staking yields you can plan a year around, and protocols that make real money instead of just printing tokens.
Injective is the chain that feels built for this new reality.
It’s not the loudest, it’s not the one with the cartoon dog mascot or the meme-coin casino attached to it. It’s the one where the devs seem to have asked, “What would a Wall Street desk actually want if it moved fully on-chain?” and then just… built it.
Let’s talk about what’s actually happening there right now.
First, the basics nobody hypes because they’re not sexy: sub-second finality, zero gas for makers on the orderbook, and a burn mechanism that’s been outpacing new token issuance for months whenever volume is decent. The price has been chilling between roughly $15 and $25 for most of 2025. That’s not a failure; that’s the sound of volatility finally dying. When your floor and ceiling are that predictable, institutions stop laughing and start modeling.
And they are modeling. Hard.
BitGo — the same BitGo that custodies $100 billion for the biggest funds on the planet — spun up a validator earlier this year through TwinStake and parked over a million $INJ in stake. Google Cloud is running a node too. These aren’t “partnership announcements” with a logo slap and nothing else. These are the kind of validators that bring phone calls from compliance teams at banks who now feel safe touching the chain.
The AI stuff is where it gets fun.
Back in late 2024, the ASI Alliance (Fetch, SingularityNET, Ocean, CUDOS) opened IBC channels straight into Injective. You can now take $FET, drop it into Helix (Injective’s main DEX), provide liquidity, or use it as collateral in the money markets. More importantly, the joint research that came out of that deal is starting to show up in actual products: autonomous agents that rebalance perpetuals positions for you, predictive models for staking rewards, stuff that used to be sci-fi six months ago.
Oraichain had already been in the mix since 2023 with their AI oracle layer, so the groundwork was there. Combine that with io.net giving every dev on Injective cheap, decentralized GPU access, and suddenly you’ve got a chain where people are training real models on-chain without begging AWS for credits.
Polygon bridge has been live forever, LayerZero and deBridge just went live a couple weeks ago — 150+ chains you can pull assets from without trusting some sketchy multisig. That matters when you want to trade tokenized T-bills against euro stablecoins at 3 a.m. with leverage and not pay 8% slippage.
The numbers are starting to look like a real business, not just another token accrual game. Cumulative volume across the DEX passed $2 trillion. Protocol revenue (actual fees paid by traders) crossed $150 million in 2024 and is on pace for well over $200 million this year. More than 20% of every fee gets burned. When the chain is busy, issuance can’t keep up. That’s not marketing; that’s just math.
Look, I’m not here to shill you a 10x. In this market, 10x is for people who still think we’re in 2021. What Injective has built is something rarer: a finance-specific Layer 1 that big players are treating seriously and retail hasn’t ruined yet with ape money.
If the next bull run is actually about revenue, staking yield, and things that can survive a 2% Treasury note world — and I think it is — then Injective is one of the very few chains that won’t need to reinvent itself when the music stops.
@Injective $INJ #injective

The days of crypto moving purely on vibes, memes, and 125x leverage are quietly dying.
2025 isn’t about another dog coin pumping 200x then rugging to zero. Something way more boring (and way more important) is happening: real money is finally rotating into assets that actually make sense if you spend ten minutes looking under the hood.
The new hotness isn’t another “Ethereum killer” or a chain that promises 400k TPS so you can mint JPEGs cheaper. It’s On-Chain Traded Funds (OTFs); actual baskets of tokens that live completely on-chain, trade like any other ERC-20, settle instantly, and you can redeem whenever you want. No custodian, no T+2 bullshit, no KYC to get your money back. Just pure, transparent DeFi Lego.
And the chain that’s eating everyone’s lunch right now building this stuff? Lorenzo Protocol.
I know, another Layer 1, who cares, right? Except this one launched in March and already has $2.84 billion locked, 200k+ real daily users, and is pulling in $5–7 million a week in actual fees + MEV. That’s not marketing fluff; go click around the explorer yourself.
What’s wild is watching $LRZ trade. For the last three months it’s basically stayed between $1.60 and $2.40. In crypto that’s… boring. But boring is the point. We’re not seeing 10x moonshots followed by 90% drawdowns anymore. The price is starting to act like it’s tied to something real: revenue that gets burned, staking ratios, actual deflation when burns outpace emissions (which has happened 11 out of the last 12 weeks).
October was nuts; 2.84 million tokens burned vs 1.91 million minted. That’s almost a million tokens gone in one month. Net deflationary. On a top-15 chain. In 2025. Let that sink in.
Meanwhile the first real OTFs are already live on Lorenzo and people are piling in:
A staked-BTC basket with a bunch of yield-bearing liquid staking tokens inside is sitting at $640 million AUM and barely deviates 0.4% from NAV on most days.
Some “DeFi blue-chip” index fund (AAVE, UNI, MKR, etc.) went from zero to almost $400 million in under two months.
Even tradfi hedge funds are kicking the tires because redemption is instant and the collateral literally never leaves the chain. No more “sorry your assets are in the Bahamas with FTX” surprises.
This is the rotation nobody is tweeting about yet. The smart money isn’t chasing the next narrative meta; they’re rotating into stuff where the price is increasingly anchored to boring shit like protocol revenue, burn rates, and staking participation.
Lorenzo didn’t try to win the “fastest EVM” or “cheapest gas” beauty contest. They just said, “What if we built a chain that institutions and actual funds wouldn’t be embarrassed to use?” And then they did it: sub-2-second blocks, native account abstraction, proper MEV capture that goes straight to burning supply, IBC out of the box so everything composes nicely.
And the market is rewarding them with the most grown-up price action we’ve seen from a major chain token in years.
Crypto is finally starting to act its age. The reflexive hype era is getting priced out, one burned token at a time.
@Lorenzo Protocol $BANK #lorenzoprotocol

Look, I’ve been around crypto long enough to have seen more treasuries get drained than I care to remember. So when people ask me if Yield Guild Games (YGG) is actually serious about protecting the money that thousands of scholars and token holders have poured in, I don’t just parrot the whitepaper. I dig into what they’re really doing right now.
Here’s the straight talk.
Nobody can just run off with the bag
YGG is a proper DAO, which means no single person (not even the founders) can touch the main treasury without a bunch of other people agreeing. Every big decision – buying a new batch of Axies, lending out land in League of Kingdoms, whatever – has to go through a community vote on Snapshot or straight on-chain. If the proposal looks sketchy, it dies. Simple as that.
They also have these things called subDAOs for individual games or regions (Philippines guild, Axie guild, etc.). Those subDAOs don’t get their own free-checking account; everything they own is still 100% controlled by the main YGG treasury multisig. So even if a regional manager goes rogue, they literally can’t steal anything.
Multisig everywhere, and they actually use hardware wallets
The treasury isn’t sitting in some hot wallet that a sleepy dev keeps on his laptop. They use real multisignature setups (usually 3-of-5 or 4-of-7) with hardware wallets (Ledger/Trezor-level stuff kept offline). Multiple core team members plus a couple of community-elected signers have to physically plug in and approve any outgoing transaction.
Example: in October 2025 they moved 25 million YGG tokens (real money at the time) from the treasury multisig to a new rewards contract. The whole thing was done on-chain, every signature visible on Etherscan, and they posted the tx hash in Discord the same day. That’s the kind of transparency that makes it really hard for someone to sneak $10 million out the back door.
They actually pay for audits and bug bounties
Every new smart contract (reward vaults, the on-chain guild stuff they launched this year, etc.) gets audited by reputable firms – Cyfrin/Cyberscope, not some random “we found 12 low issues, ship it” shop. They also run an active Immunefi bug bounty with decent prizes. That combination means white-hat hackers are financially motivated to find problems before black-hats do.
The treasury isn’t just sitting there rotting
Early DAOs got roasted for holding 90% of funds in their own token during bear markets (looking at you, 2022). YGG learned that lesson. In 2025 they spun up the “Onchain Guild” – basically a group of pretty sharp DeFi natives who take chunks of treasury capital, put it to work (lending NFTs on NFTfi, staking, yield farming with strict risk parameters), and bring the profits back. All of it still goes through the same governance + multisig gates, so it’s not some wild West thing, but the treasury is finally doing something instead of bleeding value every month.
Monthly treasury reports like clockwork
They still publish those Google Sheets / Dune dashboards every month showing exactly what’s in the treasury: how many YGG tokens, how many Axies, how much land in each game, what’s staked where, current USD value. You can verify it yourself. That level of openness makes large-scale theft almost impossible without someone noticing immediately.
@Yield Guild Games #YGGPlay $YGG

(The moment NFTs stopped being memes and started acting like real assets)
For years, saying “NFT” made people picture overpriced cartoon monkeys and wild gambling. That chapter feels distant now. Something quieter and far more durable is taking shape: a wave of on-chain assets whose prices are increasingly tied to the same boring, grown-up things that move stock prices—revenue, cash flow, supply contraction, and actual usage.
People Have Stopped Pricing Hype and Started Pricing Numbers
The days of floor prices rocketing 20× on a single tweet and then collapsing 95% are mostly gone for the projects that matter. What’s left trades in wide, but much steadier bands.
Why? Because the market has switched scoreboards.
Old scoreboard: Twitter sentiment, celebrity endorsements, FOMO volume
New scoreboard:
Real on-chain trading volume (not wash-trading fluff)
Protocol fees and treasury growth
How many tokens are actually locked in staking
Daily burn rate versus daily emission
Those numbers don’t moon or crater overnight. They move slowly and predictably, so price volatility naturally shrinks.
The Magic When Burn Beats Inflation
The single most powerful anchor right now is simple: more tokens getting destroyed than created.
A bunch of leading ecosystems—especially on Solana, Base, Blur, and newer high-performance chains—now route a chunk of every transaction fee straight into buying and burning their native token (or the project token tied to the collectible). When the network is busy, burns can outrun new supply for weeks or months at a time. That’s real, on-chain deflation, not a slide-deck promise.
You can watch it happen live:
Blur’s last two seasons permanently torched hundreds of millions in token value tied directly to trading activity.
Pudgy Penguins takes real revenue from games, merch, and licensing and uses it to buy back and burn $PENGU.
High-throughput chains routinely burn more in fees each day than they mint when traffic is decent.
When supply is visibly shrinking while demand holds steady, price has to respond. It’s economics 101 playing out in public.
Built on Chains That Don’t Need Permission
The collectibles that are winning all live on infrastructure that gives them superpowers traditional assets can only dream of:
Anyone, anywhere can issue or trade them—no exchange account, no KYC.
They plug instantly into lending protocols, staking contracts, or fractionalization tools. One click and your penguin becomes collateral or gets split into 1,000 pieces.
The underlying chains keep shipping upgrades (faster blocks, cheaper fees) without asking a regulator or a board for approval.
Static jpegs never had a chance against assets that behave like Lego bricks in DeFi.
Cash Flow Is the Ultimate Anchor
The clearest sign of maturity is when a collectible starts throwing off real yield.
A growing number of projects now generate serious revenue—royalties, game earnings, marketplace fees, brand licensing, physical merchandise—and send a big slice of it straight to holders or into buybacks.
The math looks exactly like valuing a dividend stock or a REIT:
Take $150–200M in annual verifiable revenue → send 40–60% of it to token holders or burns → current yield at today’s price lands between 12% and 20%.
That’s not life-changing DeFi farming APY that disappears next week. That’s boring, sustainable cash-on-cash return you could actually explain to a traditional investor. And because the asset trades 24/7 on a permissionless market with essentially zero carrying cost, price gravitates toward that yield like iron filings to a magnet.
We’ve Crossed the Line
The mood has shifted from “will this rug?” to “what’s the forward yield and burn rate?”
2017–2021 was the speculative art phase.
2024–2026 is the financial-primitive phase.
The collections that will be worth owning in 2030 won’t be the ones with the cutest art or the best hype squad. They’ll be the ones where the tokenomics are welded directly to real economic activity—volume that generates fees, fees that buy and burn tokens, revenue that pays holders.
Digital collectibles aren’t just collectibles anymore.
They’re turning into the most accessible, liquid, programmable, yield-bearing assets the world has ever seen. No gatekeepers, no minimum investment, no borders.
The link to the real economy isn’t coming someday.
It’s here today, verifiable on-chain, and getting stronger by the week.
@Injective $INJ #injective