howdymerry

had drinks with some older goldman / citibank boys tonight and reconnected with a friend leading a bitcoin mining firm

> revenue is indeed the meta, there’s a larger understanding among tradfi that most tokens are lemons

> they are actively looking for projects buying back tokens

> canton canton canton, what happened to apollo’s provenance (pls dm your thoughts on canton, i am intrigued)

> mary ended almost every sentence with ‘and that’s why you’ll see the market start to coalesce around hyperliquid’

> mary did a double take when a fidelity boy stated the only pleasures in life are managing your own time and the devils lettuce

i am going to laugh SO HARD if hyperliquid forces awful research projects with horrifically predatory tokenomics to announce token buybacks

come see if my eyes glow red irl

i will be speaking today at 1p on the capital formation panel at @Blockworks_ permissionless

also we come out of stealth soon (tm)

‘the cool thing about the hyperliquid ecosystem is that most projects aren’t launching tokens, they actually just want to help hyperliquid win’

if you love something, build on it

el jefe

taking a break from checking altcoin charts to checking charts that go up and to the right instead

the best thing i learned from crypto is

your tech is worthless

if no one cares

had a few striking conversations at dinner last night

seems every archetype (market makers, operators, lawyers etc) is finally coming to consensus on how ridiculous the past few years of nebulous infrastructure projects was

talent transition from directionless infrastructure projects to products people use, have seen two infrastructure projects attempt to pivot into launchpads

nice reminder to myself that my intuition was correct, i started realizing the industry was a figment of excess zirp funding early last year

industry friends that can leave crypto are choosing to leave

bottom

on the timeline today:

research crypto finally realizes predatory tokenomics make for a bad product and there is no infinite buy pressure as their venture portfolio trends to zero

more news at 9p

in case you’re confused about why some tokens are going up and why some tokens only go down, consider who is buying and who is selling

hope that helps

fwiw now is the best time to build on hyperliquid

it’s difficult to choose which ecosystem to invest resources into (we’ve seen altcoins break new lows each week) but hyperliquid has proven itself to have a strong core team, product, and community that continues to evangelize

what’s been fascinating to me is that for the first time in years, my normal friends are asking me about hyperliquid, it seems that ‘hyperliquid is the next ethereum’ is a narrative that has actually taken hold outside of crypto twitter

likely a slow summer but animal spirits will re ignite in late q3 and q4

simply a matter of physics that there is more buy pressure than sell pressure in hyperliquid alone of all alts

btc + hype

here’s why bombing multiple nuclear facilities in iran means alt szn is upon us

🧵a thread (1/57)

crypto people who are bear posting cluely need to stfu and realize most crypto projects raised on thin vaporware and perceived narrative + momentum

cluely has made $1.7m+ in total revenue within a few months while your chain does a few hundred dollars in revenue per year

hyperliquid needs a consumer moment that induces the speculation that leads to further adoption and lindyness of the blockchain

ethereum had cryptokitties and art blocks, solana had sol monkes and stepn

im building a blockchain for girlies and the killer apps are painting our nails, talking about boys, and having pillow fights in our underwear

it’s the hyperliquid of blockchains for girlies

brace yourselves normies are about to discover leverage

talking to @0x_ultra is lowkey so inspiring, not every product has to be dynastic, crypto like content and attention is ephemeral

bring back having more fun on the blockchain

SIGNS OF LOW TESTOSTERONE

- he gets jealous when you’re around your male friends

- he makes you share your location with him

- he missed hyperliquid so instead of buying best in category he’s asking about a ‘zk hyperliquid’

hilarious seeing venture investors FINALLY start to realize that they have to consider who is buying tokens once liquid and investor relations must be a proactive relationship

i remember asking a venture investor who was defending eclipse if he would buy the token at $600m fdv

absolute silence, of course not, the project is worth maybe $5 fdv

even with investor relations, if an asset is 100x overvalued, its still 100x overvalued

no one ever made a career off of buying 100x overvalued trash (aside from cathie wood)

if gabriel haines can look into a camera and film then post unhinged videos about blockchains, i can too

(talking myself up to start the content arc)