People often ask me in private messages: Are you still striking your hair? Not only have I been brushing my hair, but I am also continuing to improve my professionalism! Monday, Wednesday<投研会议>, Friday, Tuesday and Thursday<执行策略会议> During the period, random <决策会议>interspersed and <赛后复盘会议>....... I think that striking is a systematic and professional arbitrage game! I didn't lose confidence, but became more and more determined and confident! Welcome to the era of "the leftover is king"! We will see you again at the top!!

< BTC can also earn premiums? What is the real profit logic behind SatLayer? > One of the core questions of all staking or re-staking logic is whether the income is sustainable. BTC re-staking is no exception. Satlayer's promotion idea is one of the few projects I have seen that is very useful in terms of sustainability and scalability. 1. Highlights of core products: use BTC to run insurance business Satlayer is a BTC re-staking protocol that mainly develops real-world yield scenarios based on Bitcoin Verification Service (BVS). Take the project's core product, the income-based BTC insurance fund, as an example. Familiar with traditional finance, there are no more than three points to measure the ability of insurance companies: capital, risk ability, and cash flow operation ability. SatLayer's approach is to turn BTC into an insurance company's "on-chain reserve": BTC re-staking = insurance pool Forfeiture mechanism = automatic claims system Re-pledge income = simulated premium dividends Reinsurance mechanism = control exposure and spread black swan risk This logic is not simply DeFiization of insurance, but uses Bitcoin to build a new financial structure and participate in the profit distribution of the traditional insurance value chain. The charm of insurance is that as long as there is a risk of loss of assets, its demand has always been rigid. Therefore, under this mechanism, the product can not only serve as liquidation protection for on-chain Babylon/EigenLayer projects, but also meet the tail risk of lending protocols. It can even truly underwrite off-chain real-world insurance (catastrophe, workers' compensation, etc.); In the longer term, it can also expand prime brokerage business, AI Infra verification, stablecoin support, etc. 2. Why Satlayer's earnings are sustainable The benefits here are sustainable for three main reasons: 1\ The premium comes from the real risk transfer demand, not the Ponzi piled up by incentives. 2\BTC is self-sustaining and will not be off-chain, and will only be used if the compensation conditions are triggered, and the funds will be stable. 3\Real scenario expansion + risk manageable and large-scale reuse. I like SatLayer, not because of how many top insurance companies it cooperates with now, nor because of the VC bigwigs like Hack VC and Franklin Templeton standing behind it. Instead, it is under the general trend of rapid integration of the entire industry with real-world assets such as RWAs and stablecoins. The project has given BTC a new role: from a "store of value" to a "risk protection capability". In particular, once an asset like BTC, which is the most trusted, transparent, and difficult to tamper with, can bear the responsibility for real-world risks, the safe-haven nature of BTC is really real. At that time, SatLayer was much more than just "cooperating with several insurance companies", but the core hub of the Bitcoin economic layer.

Sahara is about to reach a new high. Today, Sahara Ai's data service platform (DSP) is officially launched, and it is open to everyone, and it is possible to label, validate, and co-create datasets. It has been criticized for being a pure labeling platform before, but even after the project's mainnet launch and TGE, the roadmap is still promoted in an orderly manner, and it is a down-to-earth and continuous build project.

From the perspective of arbitrage, I have a bold guess: 1. In the past two or three days, there has been news of large-scale pledge withdrawal on Ethereum. 2. A bunch of news about "ETH version of microstrategy" companies suddenly appearing in the market is crazy about grabbing funds. 3. At the same time, the news that Brother Sun happened to sell 160,000 ETH broke out, triggering the association of "smashing the market". Is it possible: Someone deliberately released the signal of "pledge withdrawal = Brother Sun smashed the market", using Brother Sun as a smoke bomb to cover his exit? In fact, the institution unpledged in advance, injected ETH over-the-counter into a listed company, and then released it to boost the stock price. The coin is not sold, and people cash out first, not only to keep ETH chips, but also to realize through the stock price—— Perfect arbitrage, killing two birds with one stone?

If the Clarity Act passes, terry routing could result in the following: 1. In the future, if the project party engages in a rat warehouse, it can complain to the SEC, suspected of securities attributes/manipulation. 2. In order to meet compliance, some projects may use this rule to bypass the SEC through airdrops. 3. Hair-soaking airdrops are not only compliant, but also encouraged by regulators. Therefore, in the future, hair-raising will not only be compliant, but also protected by law, and rights protection can also be asked by the SEC for an explanation? 😂

Counting the track of Btcfi, most of this round is anti-dumping, especially those with large financing and high popularity, which have almost become negative teaching materials. Users are attentive in operation and pragmatic in product promotion. The result is that the user's expectation management is targeted, and the incentive can form waves of small hotspots. The project should learn from the failure experience of the previous hot start, high opening and low seed players, and be able to promote the business in a targeted and step-by-step manner, which may be Yala's core competitiveness.

Satoshi Nakamoto's message on the genesis block is: The British Chancellor of the Exchequer is standing on the edge of the second round of bailouts for the banking industry. This news happened in 2009. Unexpectedly, 16 years have passed, and the banks that once rescued are still there, but the finances that save people themselves have become the biggest black hole, and Bitcoin needs to be sold to fill the hole. Back then, printing money saved banks, and now selling Bitcoin to save finances. The boomerang came too fast, maybe Satoshi Nakamoto himself didn't expect it. But this may be the biggest meaning of Bitcoin.

Mira has launched the Verify system, which is used to mark the judgment of the accuracy of AI-generated content, and if the output result is not confirmed by multiple other models, then it will be marked as an uncertain result, which can be used with the API interface as a whole. After looking at the effect, it's really a useful feature. For example, in the following one, the error of the red part is actually very small. Because the truth is that Raoul Pal quit at the age of 36, not at the age of 38. If you're not familiar with this guy, it's still hard to find out this error. This kind of verification, at least for now, is very valuable from the perspective of practical application.

From the point of view of the distribution results, the vast majority of YALA airdrops are still on the mainnet, the testnet is relatively small, and the pledge has a low guarantee. After waiting for two days, I will review and analyze YALA's airdrop distribution plan in detail, which is a textbook-level airdrop distribution case for the project party, and a standard right-hand hairing opportunity case for retail investors. The fundamentals of the project, on the whole, are decent, the project just joined the Circle alliance a while ago, and it can be seen that it still wants to get rid of the limitations of pure Btcfi and integrate real benefits such as RWA and Payfi. Make the product more distinctive, and at the same time the income is more stable, in the long term, this is a pragmatic approach, combined with hot spots, do real income is a definite trend.

Tac is listed on Binance Alpha and multiple exchanges, and as I said in June, TAC's core potential lies in the scarcity and uniqueness of Telegram-based native infra, which is not surprising. The long-term development logic of the project is not simply the splicing of TG and DeFi, the core lies in the traffic and DeFi taking what they need, and after the narrative is closed, users and funds will start the positive flywheel. Tokens have practical uses, and it is said that a burning mechanism will also be introduced in the future. Good narrative, good money flow, good tokenomics, and the rest is waiting for the market value to be discovered.