One platform. Crypto. Commodities. US equities. Trade them all on adrena.trade 💉

More like they are struggling to compete with the chinese.

This led to the massive dump. Crypto no longer has a valid narrative. It is too intertwine with the US financial system. The thing that people thought was going to pump their bags have brought value destruction. The loss of independence and the frequent hacks are not good.

It's official. MicroStrategy, $MSTR, is now facing its biggest unrealized loss in history, at -$10.8 billion. In other words, after 6 years of buying Bitcoin, the company is now down -17% on its position. By comparison, the S&P 500 is up 116% over this same timeframe. Since MicroStrategy sold 32 Bitcoin at $77,135 per coin, their positions has lost -$11.8 billion in value. This puts MicroStrategy's stock, $MSTR, down -77% since its record high. Bear market is an understatement.

Your project evolves over time. @jup_vrfd lets you broadcast those changes to every site integrating Jupiter's token api 👇

Looks like some of those bottom fishers have hatched! 🎣 The Forge 💉 adrena.trade/ranked/TheForge…

Nearly every major wallet, DEX, and launchpad on Solana is powered by the same token verification layer. That's @jup_vrfd 👇

Let's be honest, at the moment @JupiterExchange is the only company keeping @solana in the fight. If more funding and support are not given to more protocols, I see Solana becoming Ethereum eventually. Jupiter needs to expand to other chains to create a more comprehensive market, so don't expect them to be solely Solana.

In the last few days: • Our new Ethena Market grew to $500M • Our popular USDe vault was maxed out ($250M in USDG borrow) • Jupiter Lend passed $2B in Total Market Size And it's only the second week of May.

Introducing VRFD, the most comprehensive token information and news layer on Solana. We’ve been verifying token mints with the community for the last 5 years to keep imposters away. That remains a cornerstone of VRFD but today, it’s just one of multiple signals working together for traders. - Multiple signals, one layer. - Open contribution: Anyone can add info, news, and fix bad data. - Human review on everything, before it ships across Solana @jup_VRFD

Introducing The Forge ⚔️ A new 6-week long trading competition, starting Monday, May 18. Compete for a $15,000 prize pool consisting of USDC, JitoSOL, and ADX. Climb the leaderboard through skill, risk, consistency, and activity. Featuring unique quests, special leaderboard objectives, and rewards across all ranking levels. 💉 Visit adrena.trade to prepare for The Forge.

USDe’s native yield just increased to 4% on @jup_lend. This means you can now currently loop your USDe for >30% APY. One of the most popular loops on the platform, with over $100M in deposits so far.

There are a few reasons as to why you would short sell (write) options: 1) Earn income (yield): with time-decay (known as "theta"). When selling an option, time works WITH you, not against you, unlike buyers. You literally profit from the option contract premiums losing value as it gets closer to the expiration date for that option. 2) Betting on stability: Options increase in value when markets are increasingly volatile. This is known as "Vega", which is an option greek that measures the change in option value for every 1% change in implied volatility (IV) of the underlying asset. When the asset you're trading options on starts to become more stable, you can imagine the time-decay on standstill option contracts. This actually was my primary strategy when I traded stock options: I would short sell options a day before earnings, and then after earnings news came out and everything is priced in; markets settle down, volatility drops, and option values decrease -- thus profiting my short option positions. 3) Hedging against speculative buyers (market making): Buyers might be hedging against their own portfolio or spot positions or they want to speculate on asset volatility, so they dont mind paying a small premium for the same exposure that a 100x perp might do, (except without the risk of instant liquidation). But this is where you come in as a short seller: You literally create that hedge position for them to buy. Obviously there are risks to this because maybe their hedge might prove correct which would leave you at a loss, but you have to remember that you have time (theta) on your side; meaning that if you are down -$ , you have time for the buyers position to go wrong. Now, as an option seller, you need to consider capital requirements (collateral in crypto sense). Sometimes a lot of collateral is needed to short sell an option, and that is because in crypto - we can't just "margin call" people. Positions need to be "covered" to some extent. I adressed this already in my previous posts on what Leveraged Option Writing looks like here: x.com/TheLazySol/status/2053… However, as a short seller, even though you need more capital to open the trade, the probability of profit (of greater than $0.01) is significantly higher than what a buyer might experience. Buyers are taking a "chance" to be correct. They pay small premiums for a chance to cash out big if they are right. Where as sellers "create" that "chance" for them. The best analogy I can think of is Car Insurance. When you pay for car insurance, youre hedging against exposed risk... such as a car accident, weather, personal liability, etc. Your insurance company collects a premium each month, or year depending on your plan — that right there is "Theta". So, unless you are committing insurance fraud, there is a "chance" someone my crash into you. And if that happens, you get paid out (in this case, a writers collateral). "Buying" options for an asset is like buying insurance plans that pay out if you are right or wrong. "Writing" (short selling) options for an asset is like being the "house", or the insurance company that collects the premium and has the obligation to cough up the money if the buyer was positive on their trade. Below is a screenshot of options I sold on @epicentral_ , most of them are expiring tomorrow, most of them are profitable already. **This is not financial advice, short selling options have high collateral requirements and can be high risk if not taking market conditions into consideration.**

We just onboarded a multi-billion-dollar crypto asset manager to deploy an institutional-grade lending market. @Bitwise is now curating an @ethena market on Jupiter Lend. A turning point for on-chain lending 👇

Ever heard of Leveraged Option Writing? Option contracts **need** collateral. Otherwise, you're trading an arbitrary contract that has no value behind it. You can't call a derivative a "derivative" if it doesn't derive from anything. Hence why options have always had a liquidity crisis. Since 1 option contract represents 100x of the underlying, A LOT of collateral is needed for one contract. For example if you're a market maker, selling/shorting options, you'd need 100 SOL/BTC/META (or whatever it is you want to trade) for every option contract. That is unrealistic and way too expensive. However, what is realistic is static liquidity. Meaning that there are lenders and liquidity providers patiently waiting to earn yield on their sitting assets.... So going back to pretending you're a market maker: what if instead of providing 100x of the underlying asset to short/create an option contract, you just provide a fraction of it while borrowing the rest needed to cover the trade? You can with @epicentral_: Right now, you can create an option contract on $SOL, provide only 1/10th of the collateral needed to open the trade, and start earning that sweet sweet Theta (time decay yield)💰 In the screenshot, Im providing 4.8 SOL in collateral for an option while borrowing the rest. As long as my daily interest is less than the premium that I earn from Theta, I would be profitable on my position. The best part: The borrow rate is fixed/locked when you borrow... that way you aren't exposed to variable interest rates. Just like Economics 101 class, when rates are low, its cheaper to borrow, and more profitable for option sellers (market makers). There are many ways to play around with this, and eventually with different collateral types, etc. Give it a try on beta.epicentral.markets ~ comment if you need an invite-only access code 👇

Tomorrow's guest: @9yointern from Jupiter VRFD, the public trust stack behind every verified token on Jupiter. Organic scores, smart likes, and a set of signals making token trust on Solana finally make sense. Drop your questions below and catch the full episode when it goes live! 🔔 11:00 AM UTC, May 12

Perps traders can now hedge their trades. LP can hedge their impermanent loss. Options are here baby

xStocks are LIVE on Jupiter Lend. Earn xPoints and Rewards, with a 92% lower borrow rate than other lending platforms.

Switch to Limit Order V2 today The most intuitive and advanced limit order system onchain. - Set Limits in USD or MC: No more confusing pool ratios or manual conversions. - Stop Loss, fixed: Set a sell below market. V2 holds it until the target price. - Set & Forget TP SL on the same position: When either triggers, the other cancels automatically. - Private by Default: Orders are kept off-chain to block frontrunning. Because who needs a CEX when there's Jupiter onchain