Variational is compounding velocity, and it’s only the beginning. They've recently: - Topped $80M in daily volume last week, stacking multiple ATHs in users, open interest, and deposits. - What's remarkable: this is happening pre-incentives, during a closed beta. No points, no cashbacks, just pure product-market fit. - Cumulative volume approaching $1.6B, and the internal bar for excitement has shifted from $1M/day to $50M+. That’s a massive psychological reset. - Most comparable platforms took 12–18 months to hit $100M+ daily with aggressive incentive programs. @variational_io is nearing that organically in under 6 months. This tells me: → There's deep user conviction in Omni’s core loop, traders and LPs alike are leaning in. → Capital efficiency and UX are strong enough to create stickiness before rewards. → When loss refunds, OLP deposits, spread discounts, and reward tiers go live, this flywheel could go parabolic. If this is the baseline before the points program, most of the market isn't ready for what's next.

We’re entering a new phase folks; less retail hype, more institutional rotation. Here’s why that matters, and what’s happening 🧵 From July 15-17, a Satoshi-era wallet moved 80,202 $BTC to @GalaxyHQ, with 6K BTC sent to exchanges. Despite one of the largest transfers in crypto history, BTC held above $118K. 1) BTC absorbed the supply shock. Our team noticed: > $1.94B in ETF inflows during the same period > YTD flows now $54.2B, driven by pensions, insurance, and macro allocators > @DeFiTechGlobal added 208.8 BTC (~$25.6M) > @Saylor’s reserves exceeded $71B > CME: 7 straight weeks of asset manager net buying > 1-month realized vol stayed anchored around 24% 2) $ETH is leading the next leg > Nasdaq’s revised iShares ETF filing includes staking—the first of its kind > $1.81B in ETH ETF inflows last week (largest since launch) > ETH ETF AUM now > $7.1B > Staked ETH: 36.1M (~30% of float) > Exchange balances dropped to 8.9M ETH (lowest since 2015) > Treasury participation growing: over 560K ETH held across public firms, mostly staked 3) Technical confirmation > ETH/BTC broke out of a 6-month cup & handle at 0.0305 > ETH outperformed BTC by 27.5% WoW >A close above $3,700 targets a retest of 2024 highs near $4,100 What's happening? ETH is being structurally revalued, as a capital asset and a yield instrument. When ETH leads, alt-beta follows. Capital rotation has already started.

If it's not obvious yet, alt season has arrived 🔥

Our numbers are accelerating. Exponential growth :0

raised $600M in 12 minutes at a $4B FDV. One of the fastest, cleanest token launches I’ve seen. At @caladanxyz , we participated. But I would’ve been interested either way. Why? Because it hits at everything I care about as an investor: → Real revenue ($519M LTM) → Clear product-market fit (>11M tokens launched, 70%+ market share on @solana) → Simple, aligned tokenomics (25% of fees to holders, no early discounts) → Cultural presence that actually matters in crypto I’ve spent my career looking for asymmetric setups with actual cash flow and reflexivity. @pumpdotfun prices the ICO token at ~7.7× LTM revenue, versus 50-100x for other revenue-generating crypto projects, and it’s growing. Fast. People fixate on ICO allocations or token unlocks. I look at whether users come back, whether capital compounds, and whether the market is mispricing fundamentals. All three are true here. It's not just a meme. It's a business. A profitable, category-defining one.

Most L1s tack on RWAs. @plumenetwork was built for them. Here’s why I’m bullish on them: > Full-stack infra: tokenization, compliance, yield, chain. All native. No patchwork needed. > Asset diversity: Plume isn't just stables or bonds. They also cover real estate, litigation finance, carbon, and music rights. > User abstraction: retail doesn’t even need to know Plume is an L2. UX matters for scale. > TVL & real traction: Reached more than $110M TVL since June, 200+ protocols. Bigger RWA footprint than $ETH > Momentum: Price popped 28% post-USD1 stablecoin announcement. Real-world tie-ins are resonating. Most chains are adding RWAs to grow. Plume is growing because it *is* the RWA chain. The next $19T opportunity won’t run on general-purpose blockspace. It’ll need something purpose-built. That's Plume. 🔥

Education shaped my path, and it’s a privilege to pay it forward. Recently, I was nominated to join the EDU DAO Special Council as one of its Council Members. Here’s why I’m doing this 🧵 Over the past year, I’ve worked closely with @opencampus_xyz through @caladanxyz - Supporting DEX liquidity on EDU Chain - Facilitating access to lenders and users - Watching an idea become an ecosystem The mission to shift value toward educators and learners is personal. Now it’s time to help scale it. At @GoldmanSachs, I worked on student loan financing. I’ve seen the power and pitfalls of education financing up close. Capital must be responsibly structured to deliver real-world outcomes. At Caladan, we’re hands-on with DAOs and DeFi protocols. We help builders think like allocators. @educhain_xyz is one of the most mission-aligned ecosystems I’ve encountered. As a Council Member, I’ll focus on: - Attracting and deploying capital with transparency - Scaling sustainable student loan products - Aligning token holders, builders, and beneficiaries over the long term My goals: - Help bring in both DeFi-native and traditional capital - Evaluate proposals through a rigorous investment lens - Strengthen EDU token utility - Ensure clear reporting, impact tracking, and principled governance I care deeply about mission > hype. Integrity and transparency aren’t optional, they’re foundational. Let’s build a new financial backbone for education. Excited to contribute 🔥📚

This is what pragmatic innovation looks like. @sfcompute and @modularcompany just launched LSI. 85% cheaper inference at trillion-token scale. Built for serious workloads, with token pricing tied to real compute costs. Price to the metal. Performance to the max. @caladanxyz backed them for this exact reason.

1/ It's time to put a stop to the crypto industry's use of MC and FDV for valuing token projects. These two metrics do very little to accurately represent the valuation of a project and instead we propose a third metric in the middle: Adjusted Market Cap. Breakdown below👇

Omni (built on @variational_io) is the most structurally sound trading venue onchain right now, and most still haven’t caught on. Let's dive a little bit deeper into their product and rewards👇 The product is leveling up fast: 1) Spreads have compressed across the board. You can now route multi-million dollar $BTC trades at 3–4 bps, without touching an order book. That’s tighter than most CEXs. 2) $HYPE markets are back, with spreads ~50% tighter than before. Retail flavor meets institutional-grade infra. 3) Their listing engine is live again, feeding a stream of new tokens. Users now get access to majors, memecoins, vol indices, anything that can be priced can be traded. Here’s the kicker: Omni charges no trading fees. Just a $0.10 flat fee on deposits/withdrawals. That alone breaks the mold of most onchain venues. And the architecture makes all of this sustainable: > Liquidity comes from an in-house OLP that routes and hedges across CEXs, DEXs, and OTC desks > Pricing is driven by internal quoting, no reliance on external market-makers > Settlement is instant, with users insulated from counterparty risk via isolated pools Variational isn't playing some mercenary points game. The reward structure is also native to the protocol. They have: > USDC refunds on losses > Spread discounts for high-volume traders > Referral rewards based on actual traded volume > Platform credit to activate new/referred users > A tiered system, so rewards scale with usage The OLP keeps the spread, not external firms. So rewards aren’t a cost center, but a redistribution of real value captured by the system. Overall, Variational has all three: Deep liquidity, aligned incentives, and no-fee execution. If you’re still farming points elsewhere, pay attention. Variational isn’t competing for attention, it’s competing for flow. 🔥