@davidyjeong

im a pretty sentimental guy. when i first came to asia to get tread off the ground, i went to as many countries as i could to meet everyone who i could get an intro to at the time, tread didn't have much money, so i stayed in shitty hotels. i would often have to go back to the hotel at night and the only things open in every asian country was 7/11. my go-to meal was 2 onirigis and a vitamin water in 2024, i took over 30 flights and traveled between the date line 3 times. i learned a lot and it was necessary for tread to survive and grow, but it was a pretty rough year personally an important trait of a founder is to modulate your expectations and feelings. when things are going poorly, it is important to stay focused on your goals and operate objectively. conversely, when things are going too well, it is just as important to stay focused and keep a level head in times like this, when things are going well, i sometimes go to 7/11 and grab an onigiri because it reminds me of the days when i was in a new city where i know no one, walking to my shitty hotel alone at night. wondering what comes tomorrow, but not what i should eat today

deserves a pulitzer and i’m sure there’s low hanging fruit across the industry

if someone mints 1B tokens, gives 1M to their friends and they keep outbidding each other such that the 1M tokens are trading at $100, they have a $100B FDV project if non-insiders can also buy and sell this token, that is price manipulation and fraud wtf is a trench

why does the statement "institutions will trade on perp dex to trade against retail" not valid for equity perps? first question is, why do institutions pay for retail flow (PFOF)? > reporting requirements for retail/odd lots/options is less strict than regular flow, so if you buy retail flow, you have extra information no one else has (hidden price levels via options or retail directionality) > you have extra flow to directly trade against without triggering another order against a market participant in the open market (less information leakage and more cost effective) the second point is why the statement is actually true for crypto where institutions would find it hard to trade those, so they're happy to get the taker flow. but the first point is completely moot because all the retail activity is on-chain. if you really wanted to trade against retail, just take the counter position on equity markets that are 100x more liquid. however, everyone has the same data you do, so it is not nearly as valuable as a signal that is why venues like @variational_io have institutional staying power. you get to peek at the RFQs if you are set up to MM with them. that's the PFOF that would potentially be useful at scale

if CME rolls out 24/7 equity perps, why do institutions ever trade on perp DEXs?