Being right gets boring… just kidding. You don’t have to be right all the time and actually I’m wrong pretty often, but my overall thesis is correct. I also don’t make stupid mistakes from being emotional and that’s all.

This is how you outcompete 90%, by just staying emotionally stable and stick to your plan.

It’s almost pathetic how the sentiment can flip in just a blink and suddenly everyone is bullish on ETH. People are too focused on the price and with numbers go up their emotions change.

This is why I don’t believe the memecoin mania can go on forever. It’s just too price focused and in the long turn quality projects will outperform.

DeFi Updates

Mode is going a similar way as Mantle with staking. Mode is also an overlooked L2 like Mantle, but this won’t be for too long.

I was using and farming Ionic and I posted about it quite often. I haven’t seen a better place to farm points to be honest. If you sign up on Turtle Club, you can earn 7x points.

I’m so bullish on Mantle from the start. It has been overshadowed by other events, but what’s going on there is outstanding.

You don’t want to miss what’s coming. Mantle’s advantage is it’s huge treasury, which doesn’t just hold its own token. And those holdings are used to grow the ecosystem.

cMETH will be the next big thing.

OATH and Grain will merch to one new coin. This new coin will get streams from all projects related to Ethos and Granary. So all chapters and Silos like Aurelius and Ironclad will benefit the new coin.

Intent centric protocols look like the next evolution in the perp space, at least that's where the narrative is going. Symmio is the leading one with several frontends like Thena's alpha and IntentX.

I know from other projects, which are working on something like this and this could bring a lot of pressure to LP centric models like GMX etc.

The good thing is that there’s still a lot of demand for liquidity and the GLP, GM equivalent are hedgers who take a delta-neutral position as counterpart. So still lots of earning opportunities.

Backed is one of those, which offers a stablecoin yield over 50% currently.

It’s still too early to tell if Sandglass will be successful. Yash’s thesis is that there are no incentives of earning leveraged points to draw liquidity.

He might be right, but I also think that the average Sol user isn’t as deep into Defi as the average ETH user, at least not yet.

Investing

Looks like leveraging ETH was a good idea and my Aurelius and xETH positions played out well.

Everyone expects an ETH ETF approval this week, but there’s still the chance of a denial. Just to be safe, I’m going to get a little hedge position on announcement day. This might cost me a few percent, but I don’t mind.

In case of an approval, I expect the markets to rip until the ETFs go live. This could take a little bit longer than it was the case with the BTC ETFs.

When the ETFs are live, everyone will look at the flows. If they’ll be disappointing, we’ll likely see a sell-off. In this case, I will open some shorts to stay delta neutral, while I’m probably earning some funding rates.

I moved some stables to Circuit, which offers over 40% APY at the moment and I deployed some USDe into Backed (see above). Unfortunately the Backed vaults are already full.

It was a quiet week and I haven’t done much more.

Macro

AI is moving at light speed and a lot of people will be hit hard. The average Joe doesn’t pay attention to this.

However, AI brings unlimited work force. And that’s what the western world is lacking the most. Demographics are looking really bad and AI is the only thing that could prevent an economical collapse. Let’s see if politicians are smart enough to see that.

If you’re interested in one of the following projects, I appreciate if you’d use my code!

Rabby Wallet (Best EVM wallet):
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Spot On Chain (Analytics Platform):
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HMX (Perp Trading, Arbitrum, Blast):
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Merkle Trade (Perp Trading, Aptos):
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NFT Perp (NFT perp trading, Arbitrum, Blast):
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Parcl (Real Estate Perp):
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Karak (Restaking):
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Stay Sexy!

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