Another quick treasury backing update, 12th August 🔶 $WM Current Price: $0.0012 🔶 Super Liquid Backing: $0.0038 🔶 Total Backing: $0.0040 $WM is still trading below backing price … but for how long?

The foundation/Andre seem to be paying a company called Monetalis for something. Over the last 6 months they have sent them nearly $1.5M $USDC 🤔 The company says they provide “consulting services & practical, high quality solutions for connecting TradFi & DeFi.” Their website is really basic and they don’t seem to have socials so hard to get much info on them but they seem to be heavily involved in MakerDAO 🤔 Wonder what the transfers are for? 🧐

🚨Funding rates for @SonicLabs fell sharply across exchanges in 24h But it's not all bad news, the next catalyst will determine which way we move. Here is why 👇 ✯Translation: Long demand for $S fell ✯ However, open interest stayed stable ✯This means that positions rotated rather than exited Add to that: ✯ Price fell 6% in 24h which could be consistent with a leverage reset ✯ Small long liquidation wave nudged the shift ✯ we're moving towards more short heavy positions - ~53% short vs 47% long Why should we care? 🤔 ✯ Negative funding keeps shorts comfortable, which can cap bounces until a clear catalyst forces covers ✯ Short-leaning positioning can amplify a move if spot demand returns. Like a loaded spring, the liquidations of those shorts will boost a move up ✯ negative funding lowers the cost to rebuild longs. Like starting fresh and shaking off weak hands

> @AndreCronjeTech drops primitive > users come over to @SonicLabs > users talk about Sonic > mindshare increases > tvl + transactions increase > 90% feem for builders > new flow of money = new builders > flywheel continues > @AndreCronjeTech drops another new primitive, oh, he has 5 to release by the way!

2 projects have reverted their leaderboard @humafinance and @SonicLabs What other projects will follow the trend?

Guess the network. ⚡ Real-time digital asset settlement 🪙 Premier @USDC CEX experience 🌐 Finance without delay