DROPS E33:
@edison0xyz from
@BasedOneX: The Robinhood of Hyperliquid and why AI Agents Need Wallets
Edison is a co-founder of Based, a non-custodial trading platform built on top of
@HyperliquidX. We discuss the four pivots he went through, the fraud attack that wiped out profitability, and a $200K-in-the-bank moment where he had to decide whether to keep going or walk away - and the numbers now speak for themselves. $40B in trading volume and $50M in revenue in under 8 months.
We talk about:
- Losing 95% of his net worth in the Terra/Luna collapse in 2022
- Four pivots in four years - from DeFi yield protocol, to stablecoin payment gateway, to crypto card issuer, to where Based is today
- Why builders in crypto need to also be traders
- How Based monetises on top of Hyperliquid
- The three buckets of crypto traders - retail, retail pro, and pro
- Why AI agents are the next massive wave of wallet users
- The fraud attack in April 2024 that wiped out a profitable card business overnight
And much more....
Timestamps:
0:00 - Introduction
1:08 - Welcome to DROPS
1:47 - Who are you?
2:20 - What is Ziliqa?
3:42 - Ziliqa Joining Story
6:04 - Inspiration to build own project
8:16 - LUNA and the Promises
10:04 - Building in Terra ecosystem
11:37 - Terra Crash
13:10 - Hyperliquid X Terra
13:50 - The Recovery Playbook
17:04 - Builder vs Trader?
20:26 - How to raise funds?
31:05 - Hit by a Fraud
34:17 - Motivation for Builders
37:54 - What is BASED?
38:53 - Builder's Code
39:37 - Comparisons with Binance and Coinbase Pro
40:41 - Importance of Social Variety
42:33 - From Last Shot to $15M Revenue
44:06 - Role of
@ethena in
@hyenatrade
44:53 - Believe in yourself
46:48 - What different BASED is doing with perps?
49:57 - BASED AI Gateway
54:51 - Outro