Reader | Writing about the best onchain opportunities | Evolving through chaos
Joined May 2020
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- Followers 10,589
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2,682 Photos and videos
Jun 10
Took the time to think about it deeper:
Ultimately, it's VCs buying 175M worth of tokens at market value. Which is quite rare considering current market conditions for crypto.
There's no dual structure shenanigans here. @Morpho team is still aligned their token holders.
Market buys would have obviously been better for them, but that's not money serving as fuel future growth and global expansion.
I think this is bullish for everyone, I just wish the team was more transparent and had an open discussion with the DAO that owned these tokens prior to this OTC deal.
Jun 9
Everyone congratulating the Morpho team, but...
What's the deal?
Dunno if you remember, they have a live token and promised all the value created will be redirected to the token holders.
Yet, I don't see 175M of buying pressure in the chart, and there's not a single word about the specifics of this capital raise in the blog post.
Doesn't smell right to me, would love to be proven otherwise by parties involved.
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Jun 10
Anything you can do to improve ethereum:0x58d97b57bb95320f9a05dc918aef65434969c2b2 onchain liquidity @Morpho?
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Jun 10
If you're looking to make serious money and have less than 1m liquid, crypto still is a pretty good place to be:
Defi is inefficient (funding rates arb, airdrop farming) and having informational / operational edge is quite easy.
You survived until now, you shouldn't switch to AI stocks (they are the most analyzed securities).
Avoid leverage and focus where institutions aren't.
x.com/0xlaiyuen/status/20646β¦
Jun 10
Some observations on crypto traders pivoting to equities (myself included):
1. Tendency to fade rallies and call stocks a bubble
2. Desire to short rips/wait for "discounts"
This makes sense given that the past 2 years in crypto have been non-stop rugging and scamming.
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Jun 9
Everyone congratulating the Morpho team, but...
What's the deal?
Dunno if you remember, they have a live token and promised all the value created will be redirected to the token holders.
Yet, I don't see 175M of buying pressure in the chart, and there's not a single word about the specifics of this capital raise in the blog post.
Doesn't smell right to me, would love to be proven otherwise by parties involved.
Jun 9
Morpho Association has raised $175M to build the open credit network for the world.
Co-led by @paradigm, @a16zcrypto, @RibbitCapital with strategic participation from @apolloglobal, @vaneck_us, @circle_ventures, and @Ledger @Cathayinnov.
The round also included participation from @variantfund, @wmt_ventures, @preludexyz, @IOSGVC, @HashKey_Capital, @sbigroup, @Bpifrance, @mirana, @bamazizimesh, NJJ Capital and 10 other strategic partners.
The funding will help accelerate Morpho's position as the foundation for onchain credit.
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Jun 9
They clearly see the issue as they're super evasive about this deal
Let me clarify it for you:
"Let's propose a vote we control the outcome to get 150m from token holders with no guarantees provided"
I'm not against this, but it's too big of a deal at least not to have a constructive and transparent discussion about it instead of burying it in a blog post no one read.
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Jun 9
Btw I'm just raising questions and concerns.
This raise could very well be the best thing to happen to $MORPHO holders if they manage to get exponentially more successful with those extra 175M.
I just wish they were more transparent about how they'll spend those and why they sell so much in one go if they're so bullish on what they're building.
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Jun 9
12 Dec 2025
It's a good timing to remind everyone that all Morpho IP, all apps hosted on morpho(.)org, and all our social accounts like @Morpho are owned by the Morpho Association, a shareholder-free entity.
We believe in tokens. We don't own equity.
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Jun 9
Last week three friends invited me to try salsa class with them.
I'm not really into dancing, but I thought it could be fun with them.
I went, and these mfers didn't show up (β οΈ), but I stayed.
It was way warder than I expected: you need to count, dance, lead, try not to sweat too much (it's hot right now in Asia), and enjoy while knowing you suck at it (which is normal as I just started).
I had fun though. Still need to watch a few videos and practice the basics alone in the shower. I'll go back next week and report.
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Jun 8
In post-war Japan, pachinko parlours accounted for 4% of Japan's GDP, more than Las Vegas and Macau combined.
For the older generations, they were a diversion for the suffering from war trauma.
For the younger generation, they were an escape from loveless homes, where wives slept with children instead of their salaryman husbands working and drinking late into the night.
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Jun 6
If you donβt know who you are, crypto is an expensive place to find out.
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Jun 6
PENDLE 1y holders revenue is $21.150M and current FDV is $338M
With the perpification of all finance onchain, Boros revenues should increase by becoming the main way to hedge against funding rates volatility and dividends forecasting
Still not cheap fundamentally, but this is one of the cleanest native crypto asset to buy right now.
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Jun 6
I also like HYPE, SKY and MORPHO but nowhere near current prices.
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Jun 5
I don't want to scare you here..
But why do you assume average crypto project should be valued at 15-20x P/E the same way public companies are when the lifetime of a crypto company is 10x shorter?
Math aren't mathing.
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Jun 5
Not a big fan of @HypurrScan merging spot and perp TWAP metrics in their HYPE Buy Pressure dedicated section.
Most viewers use it to grasp upcoming flows and their impact on price.
1$ of spot buy pressure != 1$ of perp buy pressure.
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Jun 5
Privacy narrative is taking a massive hit with ZEC infinite mint bug.
XMR or RAIL will ultimately win market share, but theyβll all go to hades until all narrative traders are liquidated.
Panic sell first.
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