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Joined September 2020
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Wrote about paradoxes, confidence and why we retreat to black and white thinking.
A note on what has been useful to me in life and markets ❤️
paragraph.com/@el33/the-dial…
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This is gonna make life so so so much easier.
lighter shipped atomic orders and it's lowkey nuts
one transaction. set your margin, split it long/short across different assets, both legs fire together or neither does.
rn i could go 60% long BTC @ 50x and 40% short SOL @ 25x in a single click. pairs trade, hedge, spread view,
banger feature
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Proud to announce I’ve bought the $SPCX top for the coming two years, making me a angel investor in the next wave of frontier companies.
Jun 12
SpaceX is a historic liquidity transfer event from public market investors to private market investors
This will flow down to the next wave of frontier venture capital backed companies, driving more funding and higher private market valuations
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Quick SPCX thoughts;
Absolute zero edge so I'm just watching.
My guess is $LIT / $PUMP style PA.
Solid first 72h, then a downtrend into floor finding. Typical of every "known" / "huge" / "crowded" event.
Beneath the cool space stuff: the early-rich and the wise dream-sellers are here to make billions off the middle class worldwide.
While the company sucks by any valuation metric - they did a great job with the lobbying, as both Nasdaq and the SEC rewrote their own rules ahead of it
The actual trade isn't SPCX.
You long other assets that showed relative strength over the past weeks, while the market waited for clarity to put this event behind it.
I think that approach will outperform most.
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fortune.com/2026/06/09/morph…
So just raised $175M at $2B val from USA's finest and it's trading at $1.8B ?
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My favorite timeline would be the one where Tom Lee is gonna look everywhere for more yield on his ethereum:native.
Deploying a couple mill in a Tomb fork, looping mid 9 figs through a Hello Kitty branded Morpho fork, being 99% of the TVL of some 937482937% APY food themed farm.
Not the DeFi renaissance we need, but definitely the one we deserve.
The bmnr story is different than the mstr one
They’re buying the most eth they have this year
And they haven’t issued a strc like product (although they filed for it)
There’s billions in strc, if they can capture the same and buy eth it would be huge
Also unlike mstr, their staked eth earns yield which can be used to pay the dividend without “selling” (optically ofc)
The best bitcoin is ethereum
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For anyone who still doesn't understand:
ethereum:0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2 IS A SPOT AND CHILL PLAY!
I know liquidity is thin but it's doable on Lighter itself.
For the real big bois:
it's available through @FalconXGlobal & @Anchorage
Jun 9
$LIT moving really strongly but a bit choppy price action on lower time frames. IMO this is a better spot hold than active trading; the chart isn't super clean to me.
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Helium just dropped a proposal which includes:
Mint 141M new tokens ( 75% supply), of which 70M in year 1
A mechanism they call "the floor":
If price drops, protocol mints more to cover rewards, which pushes price lower, which triggers more minting
Great stuff!
helium.com/proposal
Jun 5
Some thoughts on @helium and solana:hntyVP6YFm1Hg25TN9WGLqM12b8TQmcknKrdu1oxWux
1) Network wide revenue is up roughly 4x y/y from $13k / day to $50k / day. The asset is currently trading at an 8x PE
2) Based on the current buy and burn, more than 10% of the float is being systematically purchased from the open market per year. About 90% of the FDV is already floating, and inflation is low single digits per year.
3) The network offload business - selling capacity to Tmobile, Verizon, Att, and international carriers such as Telefonica. Obviously, this business will continue to grow nicely both with general internet growth, and by signing more carriers
4) Selling the consumer facing business - Helium Mobile - to Andrew Yang's new mobile business, Noble Moble, that will further accelerate growth of Helium/Noble. The biggest challenge that Helium Mobile faced was CAC. Andrew Yang is a repeat successful entreprenuer, has raised a ton of money for Noble, and has a fresh mandate to invest in growth with a balance sheet. Also, he's super famous and loved and has a big platform
I bought some more HNT yesterday.
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El33 retweeted
Jun 3
The easy answer is that Robinhood is an everything platform, and Lighter is highly optimized for perps specifically (altho Lighter roadmap is to also be an everything platform - Perps/Options/Spot/Onramps via @fun)
Lighter has more assets, including more pre-IPO markets. Lighter doesn't require KYC sign up, and Robinhood Perps are for only a closed group of users in the EU.
By contrast, Lighter is VPN blocked in the US.
But beyond that:
Transparency / Auditability
- zkLighter (Lighters zk system) is fully auditable by end users, so anyone can permissionlessly verify the exchange is following its own rules.
Order matching, funding, risk checks, liquidations etc are defined in zk circuits, so Ethereum verifies that they followed Lighter's rules before accepting state updates. Bullish crypto ethos!
This earns the trust of traders and market makers in size, because everyone can trust that there is no privileged party trading against users (i.e. Alameda & FTX)
Latency
- Lighter's got the best latency of any perp exchange. latency.perps.trading/
Execution cost (fees slippage)
- Lighter has the best fee structure. Maybe Robinhood (when it eventually rolls out perps) also has a 0-fee structure too, but that means a tie between RH and Lighter, not a RH win.
- You can see Lighter vs Hyperliquid execution cost at the link below. Lighter is beating Hyperliquid in execution.
I'd make the claim that Lighter is beating Robinhood in execution too, but I wouldn't know because
1. I can't access Robinhood perps and
2. I wouldn't be able to audit it anyways
lighter-vs-hyperliquid.verce…
Further fee structure resources: x.com/trevor_flipper/status/…
x.com/trevor_flipper/status/…
Having the best fee structure also means that consumer apps can choose to use Lighter as a backend, saving on time to market and internal dev cost, without sacrificing much economics.
But thats an answer to "Why would I buy $LIT instead of $HOOD?" which you didn't ask but i'll answer anyway.
Apr 18
idk if lighter ever reaches out to phantom or if phantom reaches out to lighter (hard to change platforms given users has active positions) but i found this chart quite interesting
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EARLY ACCESS: Is ethereum:0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2 Cheap?
@will__price and @trevor_flipper think @Lighter_xyz is one of the most underpriced perp bets in crypto.
“At current valuation levels, I think that chance is underpriced.”
“LIT is buying back its token 2x the speed of hyperliquid:native.”
“The same talent density I haven't seen elsewhere among their competitors. Centralized or decentralized.”
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El33 retweeted
Jun 2
in case it wasn't obvious
we're currently at the fat right tail of variance
for the over-leveraged: start taking the bread home - scaled orders & twaps are your friend, market selling the whole thing in one go is how you fomo back in because 8th-9th innings do tend to be explosive, hedge against your emotions & hedge against short term variance
or alternatively - buy hedges to protect heavy positions while market is euphoric and hedges are cheap
NFA DYOR - have been noticing an uptick in frens recently, don't wish to see overleveraged pure-long new entrants pay expensive tuition lessons
May 21
remember guys
youre not a genius, its just a bull market
take the bread home when you're on the positive side of variance
get away from the table when excess unpriced in liquidity arent there - get busy
when it comes to capital markets,
your best gift isn't capturing idiosyncratic plays nor frontrunning excess risk, etc
it's stepping away when its not in excess.
MoneyPrinter0x.
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