poopmandefi

Getting my diving license.

brb in a week.

Thank you crypto.

What’s the best defi product you have tried this year? And which one brought you the highest return?

I have a feeling that UX is the not the main selling point of a product but the return / profitability of using an app.

What’s the best defi product you have tried this year? And which one brought you the highest return.

I have a feeling that UX is the not the main selling point of a product but the return / profitability of using an app.

We definitely have the potential to make commodities fun onchain.

PYUSD should be the benchmark of all new issuing stablecoin.

Changed my mind about @pumpdotfun when I realise they have all the reason to build their own l1 with the users, assets they own.

Alright today is actually defi day.

There are so many new wallets topped up with $48M-$50M USDC / USDT a few hours ago just to ape into @PlasmaFDN 😖

It is true that monetary velocity is the purpose of blockchain in today's world.

Pumpfun is trying to raise at a price higher than monad?

Great extraction btw I hope pumpfun go to 0.

The 4 apps below dictated my life after I touched crypto.

Pumpfun is generating 1.6x SOL network fees in the last 30 days.

Perfect example of how apps are extracting more value and having a better rate of return than the protocol level (Higher risk too).

Data from @DefiLlama and this app is free.

Fat App Thesis.

The next wave of defi will be perps on top of anything that can express a direction.

Only crypto folks is crazy enough to provide liquidity for that insane amount of yield.

Blockchain is a place for you to get exposure to extreme risk that trad-fi normally can't.

RWA perp is a good example.

Imagine 300x leverages on Stocks, this might be the lego that crypto can benefit the world.

But who would be the underwriter ? hmmm

We have too little interest (No major innovation).
Too much supply (Too many new tokens).

This is today's blockchain.

Binance listing $hype perp seems to be net negative because part of the volume happens on binance instead of hype.

Pretty sure everyone is just trying to max abstract from @stayloudio and all the flywheel thesis will vanish after the TGE lol.

Feels good to grind again after a long break from research.

We will start with Fat App Thesis.

Then new generation defi, new asset class, new ecosystem etc.

Poopman is back.

beliETH-ing

Fee war is hurting stableswap.

As competition for order flow intensifies, dexs are lowering the fee to capture more volume.

However, this also attract a ton of toxic swaps (MEV) because the exeuction costs drop (Fee compression).

In the past 6 months, stableswap's share of sandwich attacks over all pair has been rising drastically (Up to 54% this month and it's on ETH).

61% and 80% of stableswap volume on Maverick and Uni v4 are affected by toxic swap (MEV) when the pair is running in an ultra low fee environment, 0.001%.

One possible solution might be dynamic fee (E.g., @0xfluid) which is surprisingly good at stopping toxic flow (4.7% vs Uni v4 80%)

Because when the peg moves away from 1, fees increase and leaving less room for price exploit.

Another solution comes from @BarterDeFi, switching from constant product (X*Y=K) to constant sum (X+Y =K ? ) to eliminate toxic flow while giving good yields.

https://t.co/Lu4AcH11pa

As more stablecoin coming into blockchain, the toxic swap is a problem that all stableswap (Especially ETH) have to think about. Incentive only works for short but not for long term.

Good rate for swapper + Good yield for LP is how we keep the whale to go de-bank and swap on-chain.

* Credit @BarterDeFi and it's dashboard. If i have misread anything please let me know in the comment .