frax also getting setup to win in the stables narrative
sam been talking about getting licensed and has been close to the genius bill... literally on stage with senators
expecting some of this to pay off soon
note dcf cap holds frax (formerly fxs)
dcf capital recently acquired 2.5% of the supply of DRV
the snx attempted acquisition got us to look more deeply and there is a clear path for drv to be the hyperliquid of options
- $5M fees generated on v2
- extremely low emissions
- largest on chain options protocol, when
Coinbase trades at 65b
Circle trades at 38b
100% of circle revenue from usdc held on Coinbase goes to Coinbase, 50% of circle revenue from all other usdc goes to Coinbase
Why not long coin short circle?
Should circle have a ceiling at half of Coinbase?
We have angel invested in about 148 crypto projects
Most of them went quiet, failed, rugged, ran out of cash, started new projects with our money, etc.
But just a few became ethena, ondo, bera, ethfi, initia, monad, etc. and paid for the rest
Venture math is supposed to work
How have none of these on chain stock / stocks for perps platforms not gone all in on making the best liquid market for trading circle on chain?
Best I can find is like 400k of OI and negative funding
These chads have become the backbone of defi vaults
Nearly $4bn of TVL and some of the best partnerships in the space
Congrats on the raise, can't wait to see them cross into 11 figure tvl territory once defi really picks up
note: dcf cap seeded veda
Probably controversial but I want to see more tokens that release as 100% diluted (or with a short vest / lock) that are 80-100% owned by team / investors
For example, say I have a business that sells soda and makes $1M of profits and its owned 80% by me and 20% by my investors
i bet even with 0 rent costs, gov run grocery stores wouldn't be able to beat prices after a few years unless they run at massive losses
especially if they need to provide good stuff like fresh meats, veggies, etc.
grift, poor management, employees that don't care, ops /