icymi: you can earn 14% apy for providing liquidity on @grvt_io
this is a community-owned to delta-neutral on the platform, 363 days running, ~$11.5M TVL rn
what they let you do with it: keep the position earning while using the balance as margin
so you can maximize your pnl yield
$GRVT is coded!
this is a community-owned to delta-neutral on the platform, 363 days running, ~$11.5M TVL rn
what they let you do with it: keep the position earning while using the balance as margin
so you can maximize your pnl yield
$GRVT is coded!
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Kaff 📊 retweeted
Quantum thread attention is actually picking up on its own right now.
Not because of some big catalyst or coordinated shill, but more ppl are just starting to dig into the actual projects building post-quantum stuff.
You’re seeing more real conversations around which chains are ill need to migrate, and the pure-play ones are starting to get more eyes.
With this kind of slow burn momentum, I think the narrative still has room to run before it gets fully crowded.
So if you’re looking for projects actually building in the post-quantum space, I’ve got you covered here by tier:
✨ Tier S (already shipped)
@QRLedger | base:0x37696cd8f723ce541ac376f79fc109080e505ba3: Native XMSS since 2018. Every transaction is PQC from day one. Longest track record, no migration needed.
@NEARProtocol | $NEAR: ML-DSA signing live on mainnet since Jul 2026. Accounts can add a PQC key without changing address.
@QuantusNetwork | $QTC: ML-DSA from genesis, mainnet ~Sep 2026. Uses ZK aggregation to reduce signature bloat.
✨ Tier A (gaining traction)
@Starknet | $STRK: Already demoed Falcon/ML-DSA. Account abstraction makes switching signature schemes easier.
@PQabelian | abelian:native: Lattice-based native + privacy. Live mainnet for a while, supports multi-algorithm (Blanc Fork), has QDay L2 EVM-compatible.
@mochimocrypto | $MCM: Native hash-based (WOTS+) since 2018, same generation as QRL.
@Algorand | algorand:native: Falcon-1024 accounts live on mainnet (Aug 2026) + Falcon State Proofs since 2022
✨ Tier B (Building momentum, tooling/infra value)
@QANplatform | $QANX: Hybrid Dilithium + hash, EVM-compatible, dual-key.
@cellframenet | $CELL: Uses CRYSTALS-Dilithium, already live.
@SuiNetwork | $SUI: ML-DSA-65 already running on Devnet. Clear roadmap (testnet end of 2026 → mainnet auth Q1/2027).
@projecteleven: Yellowpages (link BTC → PQC key) + Strongpoint custody. Practical tooling, working with multiple large chains.
@qlabsofficial | $Qone: qVAULT + migration toolkit, uses Falcon. Focused on infra to protect existing assets.
✨ Tier C (Still roadmap, slow ship)
Bitcoin (BIP-360): BIP-360 is in the repo but not live yet. Migration is very hard due to the UTXO model.
Ethereum: Targeting ~2029. Nothing meaningful live yet.
Aptos, Nervos, Solana, XRP Ledger (roadmaps / opt-in): Have proposals, opt-in paths, or roadmaps, but haven’t officially shipped yet.
#DYOR. If I missed anyone actually shipping real PQC, drop them below 👇🏻
Not because of some big catalyst or coordinated shill, but more ppl are just starting to dig into the actual projects building post-quantum stuff.
You’re seeing more real conversations around which chains are ill need to migrate, and the pure-play ones are starting to get more eyes.
With this kind of slow burn momentum, I think the narrative still has room to run before it gets fully crowded.
So if you’re looking for projects actually building in the post-quantum space, I’ve got you covered here by tier:
✨ Tier S (already shipped)
@QRLedger | base:0x37696cd8f723ce541ac376f79fc109080e505ba3: Native XMSS since 2018. Every transaction is PQC from day one. Longest track record, no migration needed.
@NEARProtocol | $NEAR: ML-DSA signing live on mainnet since Jul 2026. Accounts can add a PQC key without changing address.
@QuantusNetwork | $QTC: ML-DSA from genesis, mainnet ~Sep 2026. Uses ZK aggregation to reduce signature bloat.
✨ Tier A (gaining traction)
@Starknet | $STRK: Already demoed Falcon/ML-DSA. Account abstraction makes switching signature schemes easier.
@PQabelian | abelian:native: Lattice-based native + privacy. Live mainnet for a while, supports multi-algorithm (Blanc Fork), has QDay L2 EVM-compatible.
@mochimocrypto | $MCM: Native hash-based (WOTS+) since 2018, same generation as QRL.
@Algorand | algorand:native: Falcon-1024 accounts live on mainnet (Aug 2026) + Falcon State Proofs since 2022
✨ Tier B (Building momentum, tooling/infra value)
@QANplatform | $QANX: Hybrid Dilithium + hash, EVM-compatible, dual-key.
@cellframenet | $CELL: Uses CRYSTALS-Dilithium, already live.
@SuiNetwork | $SUI: ML-DSA-65 already running on Devnet. Clear roadmap (testnet end of 2026 → mainnet auth Q1/2027).
@projecteleven: Yellowpages (link BTC → PQC key) + Strongpoint custody. Practical tooling, working with multiple large chains.
@qlabsofficial | $Qone: qVAULT + migration toolkit, uses Falcon. Focused on infra to protect existing assets.
✨ Tier C (Still roadmap, slow ship)
Bitcoin (BIP-360): BIP-360 is in the repo but not live yet. Migration is very hard due to the UTXO model.
Ethereum: Targeting ~2029. Nothing meaningful live yet.
Aptos, Nervos, Solana, XRP Ledger (roadmaps / opt-in): Have proposals, opt-in paths, or roadmaps, but haven’t officially shipped yet.
#DYOR. If I missed anyone actually shipping real PQC, drop them below 👇🏻
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Kaff 📊 retweeted
Tokens showing relative strength vs the rest of the market:
> $ZAMA: outperformed the privacy basket hard since June.
> $HYPE:$HYPEystem keeps expanding papertrade, elysium. AQAv2 pay out >$500K yield per day.
> kinetiq:native: Elysium mainnet Nov 9.
> $ENA: Recent pr$ENAal routes 95% of net revenue into ENA buybacks once USDe hits the $7.5B milestone.
> $CHIP: GPU-collateralized lending for AI infra w/ real TVL and active loans
Memecoin OGs: $PEPE, $BONK, $USELESS, $PENGU.
I’m probably looking for entries on some of these if BTC can stabilize here. Wish me luck!
> $ZAMA: outperformed the privacy basket hard since June.
> $HYPE:$HYPEystem keeps expanding papertrade, elysium. AQAv2 pay out >$500K yield per day.
> kinetiq:native: Elysium mainnet Nov 9.
> $ENA: Recent pr$ENAal routes 95% of net revenue into ENA buybacks once USDe hits the $7.5B milestone.
> $CHIP: GPU-collateralized lending for AI infra w/ real TVL and active loans
Memecoin OGs: $PEPE, $BONK, $USELESS, $PENGU.
I’m probably looking for entries on some of these if BTC can stabilize here. Wish me luck!
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► How To Read The Hashrate?
Do you see hashrate going up on mining coins and immediately call it bullish? But is it tho?
Looking at BTC, PRL, QTC and ZEC lately… there's a lot more to these charts than I thought.
1/ $BTC
BTC is at 1,058 EH/s on the 7D average, back in 1 lty at 140.58T after a +5.92% adjustment, with blocks coming in around 9m25s instead of 10m.
Looks strong but hashprice is only ~$37 per PH/day, which means competition is increasing while revenue per unit of compute stays pretty thin.
A 12 J/TH ASIC can theoretically cover electricity costs up to ~$0.126/kWh, while an older 30 J/TH machine only reaches ~$0.051/kWh, before other costs.
Same BTC price, completely different miner economics.
What people overlook is replacing 30 J/TH machines with 12 J/TH hardware gives ~2.5x more hashrate using the same electricity.
So rising hashrate doesn't always mean fresh capital flooding in. Sometimes it's just better machines replacing old ones.
Top 3 pools also account for ~63.3% of recent blocks, top 5 around 79.3%.
So BTC hashrate can rip while miners get squeezed. Both can be true.
2/ $ZEC
Network hashrate is ~30.1 GSol/s, up ~28.6% over 90D, with estimates pointing to ~4x growth YoY.
That's equivalent to roughly 33,000 Z15 Pro machines based on Hashrate Index estimates.
But mid-October estimates also suggested ZEC ASICs were generating substantially more revenue per MW than contemporary BTC ASICs.
When the economics suddenly look attractive, miners pay attention. Machines come online, old hardware gets reactivated, and more capital starts chasing rewards.
Doesn't necessarily mean everyone suddenly became a ZEC maxi. Sometimes miners just follow the money lol.
Another interesting bit is ~57.4% of recent blocks being classified as unknown. Some might call that decentralized, but unknown doesn't mean distributed.
We simply don't know who's behind that capacity.
And for ASIC-heavy networks, knowing who controls compatible hardware matters a lot more than people think.
3/ $PRL / $Pearl
@prlnet uses INT8 matrix multiplication, a different kind of computational work.
Network hashrate ~75.34 EH/s, up ~63% in a month, difficulty 42.2M.
PearlTrack also reported ~7.46K TMAC of verified AI compute in 24h. But verified compute doesn't automatically mean useful AI demand.
You can prove a miner performed matrix calculations without proving those calculations served an actual paying AI customer.
That's the gap between Proof-of-Useful-Work as a narrative and actual economic utility.
And with Kryptex accounting for ~49.6% of recent blocks, PearlHash another ~19.1%, nearly 69% comes through just two pools.
Compute is growing fast, but I wanna see whether that growth translates into real AI workloads, external revenue, and miners staying when profitability cools off.
4/ $QTC
@QuantusNetwork uses Poseidon2-based QPoW, targets 12-second blocks, and adjusts difficulty every single block instead of BTC's 2,016-block cycle.
– Sep 30: 24 TH/s with difficulty above 300T
– Oct 22: 30.6 TH/s and difficulty around 368T
Some growth, but remember mainnet only launched Sep 9. We're barely six weeks in.
What caught my eye is how quickly difficulty reacts to incoming miners.
On BTC, fresh hashrate can speed up blocks until the next adjustment. QTC adjusts to that competition much faster.
But since it's GPU-oriented, miners can potentially rotate elsewhere when another opportunity pays better.
The question is whether those GPUs are still there after the early mining opportunity gets crowded.
Anyone can show up for juicy rewards. Staying when margins compress is where conviction gets tested.
5/ Smaller PoW coins
Imagine a coin suddenly becomes more profitable to mine.
Existing miners rotate their machines in, hashrate pumps, difficulty catches up, profitability drops, then some miners leave.
On the chart, it looks like massive adoption. In reality, it might just be the same hardware chasing better rewards elsewhere.
That's why percentage hashrate growth alone can be such a trap.
I think we're measuring the wrong thing when we only compare raw hashrate.
I'd rather look at 7D/30D/90D trends, difficulty, block times, hashprice, hardware efficiency, pool concentration, and how easily miners can switch networks.
Also worth remembering that BTC price and mining profitability often lead hashrate, not the other way around.
So when hashrate finally starts ripping, it might just be miners deploying hardware based on decisions made weeks or months ago.
Hashrate staying up when profitability gets ugly tells you something much more interesting.
Do you see hashrate going up on mining coins and immediately call it bullish? But is it tho?
Looking at BTC, PRL, QTC and ZEC lately… there's a lot more to these charts than I thought.
1/ $BTC
BTC is at 1,058 EH/s on the 7D average, back in 1 lty at 140.58T after a +5.92% adjustment, with blocks coming in around 9m25s instead of 10m.
Looks strong but hashprice is only ~$37 per PH/day, which means competition is increasing while revenue per unit of compute stays pretty thin.
A 12 J/TH ASIC can theoretically cover electricity costs up to ~$0.126/kWh, while an older 30 J/TH machine only reaches ~$0.051/kWh, before other costs.
Same BTC price, completely different miner economics.
What people overlook is replacing 30 J/TH machines with 12 J/TH hardware gives ~2.5x more hashrate using the same electricity.
So rising hashrate doesn't always mean fresh capital flooding in. Sometimes it's just better machines replacing old ones.
Top 3 pools also account for ~63.3% of recent blocks, top 5 around 79.3%.
So BTC hashrate can rip while miners get squeezed. Both can be true.
2/ $ZEC
Network hashrate is ~30.1 GSol/s, up ~28.6% over 90D, with estimates pointing to ~4x growth YoY.
That's equivalent to roughly 33,000 Z15 Pro machines based on Hashrate Index estimates.
But mid-October estimates also suggested ZEC ASICs were generating substantially more revenue per MW than contemporary BTC ASICs.
When the economics suddenly look attractive, miners pay attention. Machines come online, old hardware gets reactivated, and more capital starts chasing rewards.
Doesn't necessarily mean everyone suddenly became a ZEC maxi. Sometimes miners just follow the money lol.
Another interesting bit is ~57.4% of recent blocks being classified as unknown. Some might call that decentralized, but unknown doesn't mean distributed.
We simply don't know who's behind that capacity.
And for ASIC-heavy networks, knowing who controls compatible hardware matters a lot more than people think.
3/ $PRL / $Pearl
@prlnet uses INT8 matrix multiplication, a different kind of computational work.
Network hashrate ~75.34 EH/s, up ~63% in a month, difficulty 42.2M.
PearlTrack also reported ~7.46K TMAC of verified AI compute in 24h. But verified compute doesn't automatically mean useful AI demand.
You can prove a miner performed matrix calculations without proving those calculations served an actual paying AI customer.
That's the gap between Proof-of-Useful-Work as a narrative and actual economic utility.
And with Kryptex accounting for ~49.6% of recent blocks, PearlHash another ~19.1%, nearly 69% comes through just two pools.
Compute is growing fast, but I wanna see whether that growth translates into real AI workloads, external revenue, and miners staying when profitability cools off.
4/ $QTC
@QuantusNetwork uses Poseidon2-based QPoW, targets 12-second blocks, and adjusts difficulty every single block instead of BTC's 2,016-block cycle.
– Sep 30: 24 TH/s with difficulty above 300T
– Oct 22: 30.6 TH/s and difficulty around 368T
Some growth, but remember mainnet only launched Sep 9. We're barely six weeks in.
What caught my eye is how quickly difficulty reacts to incoming miners.
On BTC, fresh hashrate can speed up blocks until the next adjustment. QTC adjusts to that competition much faster.
But since it's GPU-oriented, miners can potentially rotate elsewhere when another opportunity pays better.
The question is whether those GPUs are still there after the early mining opportunity gets crowded.
Anyone can show up for juicy rewards. Staying when margins compress is where conviction gets tested.
5/ Smaller PoW coins
Imagine a coin suddenly becomes more profitable to mine.
Existing miners rotate their machines in, hashrate pumps, difficulty catches up, profitability drops, then some miners leave.
On the chart, it looks like massive adoption. In reality, it might just be the same hardware chasing better rewards elsewhere.
That's why percentage hashrate growth alone can be such a trap.
I think we're measuring the wrong thing when we only compare raw hashrate.
I'd rather look at 7D/30D/90D trends, difficulty, block times, hashprice, hardware efficiency, pool concentration, and how easily miners can switch networks.
Also worth remembering that BTC price and mining profitability often lead hashrate, not the other way around.
So when hashrate finally starts ripping, it might just be miners deploying hardware based on decisions made weeks or months ago.
Hashrate staying up when profitability gets ugly tells you something much more interesting.
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Kaff 📊 retweeted
Extended airdrop math 👀
Extended has raised $19M and generated around $35M in fees, according to DefiLlama.
• Total supply: 1B tokens
• Airdrop allocation: 30% (300M tokens)
• Total airdrop points: 70M
Each point gets approximately 4.286 tokens.
• $100M FDV → $0.10 per • $200M FDV → $0.20 per token → $0.86 per point
• $300M FDV → $0.30 per token → $1.29 per point
• $500M FDV → $0.50 per token → $2.14 per point
i think they gonna list around $100M FVD
COOK OR REKT????
Extended has raised $19M and generated around $35M in fees, according to DefiLlama.
• Total supply: 1B tokens
• Airdrop allocation: 30% (300M tokens)
• Total airdrop points: 70M
Each point gets approximately 4.286 tokens.
• $100M FDV → $0.10 per • $200M FDV → $0.20 per token → $0.86 per point
• $300M FDV → $0.30 per token → $1.29 per point
• $500M FDV → $0.50 per token → $2.14 per point
i think they gonna list around $100M FVD
COOK OR REKT????
The ticker is $XTEN.
Coming November 2026. Tokenomics to follow from 31 October.
This communication is not an offer to claim XTEN.
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Kaff 📊 retweeted
Just went thru the new DefiLlama report on @FlareNetworks. I'm rly impressed how they built the chain around the data smart contracts need.
Same validators that produce blocks also run the price feeds and verify events from other chains. That shared layer is why the products are f each other.
It goes in order:
– FTSO for prices
– FDC for events that happen on other chains or systems
– FAssets that uses both to bring assets from non-smart-contract chains onchain
– Smart Accounts so people can sign from the wallet they already have
– FCC for private data, where the computation runs in a TEE and only a signed result comes out
FCC is the same foundation pointed at private data. First live use is proof of reserves for USDX on Songbird.
Private numbers go in, a signed result comes out. Fund NAVs and compliance checks can follow if people actually build on it.
FXRP live, FCC on mainnet with more use cases, Flare is coded!
Same validators that produce blocks also run the price feeds and verify events from other chains. That shared layer is why the products are f each other.
It goes in order:
– FTSO for prices
– FDC for events that happen on other chains or systems
– FAssets that uses both to bring assets from non-smart-contract chains onchain
– Smart Accounts so people can sign from the wallet they already have
– FCC for private data, where the computation runs in a TEE and only a signed result comes out
FCC is the same foundation pointed at private data. First live use is proof of reserves for USDX on Songbird.
Private numbers go in, a signed result comes out. Fund NAVs and compliance checks can follow if people actually build on it.
FXRP live, FCC on mainnet with more use cases, Flare is coded!
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Kaff 📊 retweeted
pumpfun really isn't making it easy for fomo to hold onto that market share.
@Pumpfun launched pump bridge, ditching Relay for being slow, expensive and giving traders dogshit fills.
– 2x faster buys, ~1.95s vs ~3.9s
– 12x fewer buy errors
– ~17% better execution gap on small g fees
not enough apparently. they've also been shipping EVM limit orders, referral boosts and other incentives to drag traders back into the trenches.
but pumpfun spent months building a bridge just for @fomo to pull another bridge out of its pocket the next morning 😭
– own internal bridge, already tested with a small group
– claims sub-1s crosschain swaps
– own router delivering ~0.5% better execution on average
– claims 10x+ more crosschain transactions than any rival trading app
two teams are beefing over milliseconds while we're still roundtripping shitcoins in seconds.
at least the UX is getting better😂
@Pumpfun launched pump bridge, ditching Relay for being slow, expensive and giving traders dogshit fills.
– 2x faster buys, ~1.95s vs ~3.9s
– 12x fewer buy errors
– ~17% better execution gap on small g fees
not enough apparently. they've also been shipping EVM limit orders, referral boosts and other incentives to drag traders back into the trenches.
but pumpfun spent months building a bridge just for @fomo to pull another bridge out of its pocket the next morning 😭
– own internal bridge, already tested with a small group
– claims sub-1s crosschain swaps
– own router delivering ~0.5% better execution on average
– claims 10x+ more crosschain transactions than any rival trading app
two teams are beefing over milliseconds while we're still roundtripping shitcoins in seconds.
at least the UX is getting better😂
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I think the ethereum:0xad29f2723fcdbcf665f210f25e06f97477e417cf buyback is more interesting for its timing than its size.
They burned 1.1M tokens (~0.96% of circulating supply, ~$253k at ~$0.23).
I think if they kept the same pace for a year it would remove >10% of the current floew unlocks.
The good timing is that this 1st buyback happened right before the 2.0 product stack starts rolling out:
– Earn (late October): tokenized fixed-income strategies targeting up to 11%
– Stable Funding Perps (November): stocks, FX, commodities and indices with zero trading fees and once-daily funding, aiming for 1,000+ markets by December
– Yield as Margin (November): use eligible Earn balances as trading margin while still earning yield
– Grvt 2.0 app (late November): unified self-custodial balance
They’re reducing float while the token is about to pick up more actual utility.
If Earn and Yield-as-Margin actually get used, scaling the monthly burns later becomes easier to justify.
Burning harder before those products are live would have been the riskier move.
They burned 1.1M tokens (~0.96% of circulating supply, ~$253k at ~$0.23).
I think if they kept the same pace for a year it would remove >10% of the current floew unlocks.
The good timing is that this 1st buyback happened right before the 2.0 product stack starts rolling out:
– Earn (late October): tokenized fixed-income strategies targeting up to 11%
– Stable Funding Perps (November): stocks, FX, commodities and indices with zero trading fees and once-daily funding, aiming for 1,000+ markets by December
– Yield as Margin (November): use eligible Earn balances as trading margin while still earning yield
– Grvt 2.0 app (late November): unified self-custodial balance
They’re reducing float while the token is about to pick up more actual utility.
If Earn and Yield-as-Margin actually get used, scaling the monthly burns later becomes easier to justify.
Burning harder before those products are live would have been the riskier move.
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I just started farming points on @origamitech_.
If you were late to variational or missed hyperliquid, this one might be worth starting with. it’s still early and not many ppl are talking about it yet.
FYI:
Origami Tech builds an AI-powered bot for automated trading across trade on multiple platforms and manage all your positions from a single terminal.
They already have solid metrics: >$2B in volume, 5,000+ registered users, and support for 14+ exchanges (including top cexs and dexs).
Their points program just launched last week, with 1M points distributed weekly based on activity on the platform.
Epoch 2 just started today with 3x boosts on eligible markets across Derive, Extended, Hyperliquid, and more.
So, if you’re an active trader, I think this one’s worth using cuz it’s still early, and you might get something out of the points, iykyk.
If you were late to variational or missed hyperliquid, this one might be worth starting with. it’s still early and not many ppl are talking about it yet.
FYI:
Origami Tech builds an AI-powered bot for automated trading across trade on multiple platforms and manage all your positions from a single terminal.
They already have solid metrics: >$2B in volume, 5,000+ registered users, and support for 14+ exchanges (including top cexs and dexs).
Their points program just launched last week, with 1M points distributed weekly based on activity on the platform.
Epoch 2 just started today with 3x boosts on eligible markets across Derive, Extended, Hyperliquid, and more.
So, if you’re an active trader, I think this one’s worth using cuz it’s still early, and you might get something out of the points, iykyk.
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Tokens showing relative strength vs the rest of the market:
> $ZAMA: outperformed the privacy basket hard since June.
> $HYPE:$HYPEystem keeps expanding papertrade, elysium. AQAv2 pay out >$500K yield per day.
> kinetiq:native: Elysium mainnet Nov 9.
> $ENA: Recent pr$ENAal routes 95% of net revenue into ENA buybacks once USDe hits the $7.5B milestone.
> $CHIP: GPU-collateralized lending for AI infra w/ real TVL and active loans
Memecoin OGs: $PEPE, $BONK, $USELESS, $PENGU.
I’m probably looking for entries on some of these if BTC can stabilize here. Wish me luck!
> $ZAMA: outperformed the privacy basket hard since June.
> $HYPE:$HYPEystem keeps expanding papertrade, elysium. AQAv2 pay out >$500K yield per day.
> kinetiq:native: Elysium mainnet Nov 9.
> $ENA: Recent pr$ENAal routes 95% of net revenue into ENA buybacks once USDe hits the $7.5B milestone.
> $CHIP: GPU-collateralized lending for AI infra w/ real TVL and active loans
Memecoin OGs: $PEPE, $BONK, $USELESS, $PENGU.
I’m probably looking for entries on some of these if BTC can stabilize here. Wish me luck!
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Just went thru the new DefiLlama report on @FlareNetworks. I'm rly impressed how they built the chain around the data smart contracts need.
Same validators that produce blocks also run the price feeds and verify events from other chains. That shared layer is why the products are f each other.
It goes in order:
– FTSO for prices
– FDC for events that happen on other chains or systems
– FAssets that uses both to bring assets from non-smart-contract chains onchain
– Smart Accounts so people can sign from the wallet they already have
– FCC for private data, where the computation runs in a TEE and only a signed result comes out
FCC is the same foundation pointed at private data. First live use is proof of reserves for USDX on Songbird.
Private numbers go in, a signed result comes out. Fund NAVs and compliance checks can follow if people actually build on it.
FXRP live, FCC on mainnet with more use cases, Flare is coded!
Same validators that produce blocks also run the price feeds and verify events from other chains. That shared layer is why the products are f each other.
It goes in order:
– FTSO for prices
– FDC for events that happen on other chains or systems
– FAssets that uses both to bring assets from non-smart-contract chains onchain
– Smart Accounts so people can sign from the wallet they already have
– FCC for private data, where the computation runs in a TEE and only a signed result comes out
FCC is the same foundation pointed at private data. First live use is proof of reserves for USDX on Songbird.
Private numbers go in, a signed result comes out. Fund NAVs and compliance checks can follow if people actually build on it.
FXRP live, FCC on mainnet with more use cases, Flare is coded!
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Kaff 📊 retweeted
At KBW, our APAC lead @Banktheworld had a chance to sit down with Korean TV network HankyungTV.
He covered:
- Why Flare is the blockchain for data.
- How XRP can be put to work on Flare as FXRP.
- @FlareNetworksKR's ongoing work in the region, including our partnerships with atch the full interview
youtube.com/watch?v=ev3Cu3…
He covered:
- Why Flare is the blockchain for data.
- How XRP can be put to work on Flare as FXRP.
- @FlareNetworksKR's ongoing work in the region, including our partnerships with atch the full interview
youtube.com/watch?v=ev3Cu3…
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Kaff 📊 retweeted
Reasons why @Pumpfun doesn't airdrop for community:
- Paid $6m for Kimchi to him join PumpFun
- Paid $20k and $30k/month for fomo KOL move to Pumpfun
- Paid 99.9% of callout rewards for scammers (~$20m)
- Paid salary for 63 KOL affiliates each month
- Burned 17.14% of supply % of revenue ($875m) has sold through Kraken
- Rolex for KOL
Most of them are for KOLs, Scammers, and Team
Users got rugged
- Paid $6m for Kimchi to him join PumpFun
- Paid $20k and $30k/month for fomo KOL move to Pumpfun
- Paid 99.9% of callout rewards for scammers (~$20m)
- Paid salary for 63 KOL affiliates each month
- Burned 17.14% of supply % of revenue ($875m) has sold through Kraken
- Rolex for KOL
Most of them are for KOLs, Scammers, and Team
Users got rugged
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Kaff 📊 retweeted
$PRL just printed a new ath ~ $2.3. that’s a clean move from the ~$1.39 level i was looking at a few days ago.
quick take:
– hashrate keeps climbing (85.55 EH/s atm) and the inference platform is live, so the useful work narrative is still intact
– emissions are still ~1M pressure hasn’t gone away
– the real tell is still paid customer-linked compute as a % of total network work
bull case looks stronger on price action ngl pearl-2:native $prl 🔥
quick take:
– hashrate keeps climbing (85.55 EH/s atm) and the inference platform is live, so the useful work narrative is still intact
– emissions are still ~1M pressure hasn’t gone away
– the real tell is still paid customer-linked compute as a % of total network work
bull case looks stronger on price action ngl pearl-2:native $prl 🔥
► $PRL Thesis: The Bull, Bear Cases
$PRL is approaching a $3B FDV, with ~51.6 EH/s of network hashrate. But we still don't know how much of that compute is actually serving paying AI customers.
@prlnet's cuPOW uses matrix multiplication as proof-of-work. Miners run GPU-heavy yptographic proofs, and the network verifies the work.
The market seems to be pricing Pearl as some kind of AI-native Bitcoin, where GPUs burn electricity securing the chain while potentially doing actual AI inference.
Pretty clever, if this works at scale, mining becomes an additional revenue stream that could make inference cheaper.
What do we actually have so far?
– network hashrate is ~50.6 EH/s, more than 2x late May levels. Miners are clearly showing up
– that 320K GPUs number floating around? It's actually based on the older 24 EH/s network
– today's network could represent 389K–674K RTX 3090 equivalents
The amount of compute competing for $PRL emissions is getting pretty serious.
For perspective, current estimates put RTX 4090 mining revenue around $7.93/day, or ~$0.33 per GPU-hour before costs.
Imagine earning some of that on top of inference revenue with minimal additional overhead, across a meaningful amount of idle or underutilized GPU capacity.
What's more interesting is that Together AI announced an integration around Gemma inference with a 25%+ pricing discount, explicitly using future crypto emissions to offset compute costs.
Pearl also now advertises its own serverless inference platform across Qwen, DeepSeek, GLM and Gemma, with published pricing as low as $0.07 per million input tokens on one model.
That tells me the focus is shifting from proving the consensus mechanism works to figuring out whether it can actually compete in the inference market.
PIP-2 brings Grouped-GEMM for MoE workloads. PIP-3 (still a draft) is pushing FP8, potentially making mining and inference work together more efficiently.
But my concern is whether enough of that math becomes paid inference, and whether that value actually flows back to $PRL.
Because cheap inference subsidized by token emissions is a double-edged sword.
Great for attracting customers, maybe less great for holders if miners keep selling rewards and customers never need to buy the token.
– at $1.39, $469M mcap / $2.9B FDV, with 1M new PRL/day = $1.38M in daily issuance
– ~41% of reported daily spot volume
No VC unlocks sounds nice, but miner sell pressure still very much exists.
So the bull case is that if Pearl can get miners earning from both block rewards and real inference jobs, useful-work mining can become an actual business model.
More inference demand attracts GPUs, more GPUs improve capacity, and productive miners eventually have an edge over guys just grinding random matrices.
But the bear case is that the network keeps growing, emissions keep flowing, AI customers get cheap compute, but tokenholders never see meaningful value capture.
What I'd really want to see is a verifiable number for paid customer-linked compute as a % of total network work. Show me the jobs, the payments, and how they connect to onchain proofs.
That metric could be Pearl's equivalent of TVL back in early DeFi. The moment it starts moving, the market has something real to underwrite.
Tbh, I'm bullish on the tech, cautiously bullish on the setup, not blindly bullish on the token at any price.
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► ethereum:0xad29f2723fcdbcf665f210f25e06f97477e417cf Thesis: The Capital-Productive Hybrid
I’m bullish on ethereum:0xad29f2723fcdbcf665f210f25e06f97477e417cf as one of the cleaner product-led bets in the hybrid perp + RWA space right now.
The core product is already shipping model (off-chain CLOB matching + ZK Validium settlement on ZKsync)
> ~180–200 markets across crypto, equities (TSLA, SPY…) and commodities (gold, oil)
> Up to 50x, negative maker fees, no KYC since mid-2025
> Privacy + self-custody without the usual DEX UX tax
Metrics are quietly strong relative to the token:
– ~$500M 24h perp volume, 451M OI
– $14.65B 30d volume
– $440B+ cumulative volume
– TVL only $33.7M (highly capital efficient)
– Token at $0.24 → $27.5M mcap / $241M FDV
That’s a lot of actual trading flow for a token still priced like an afterthought.
The real edge is capital productivity. Margin already earns yield (via fees + rehypothecation to Aave/USDY).
They’re expanding this into a full Earn product backed by tokenized fixed-income assets (target up to 11%) and Yield-as-Margin so the same balance does both.
Token side is also tightening:
– Fixed 1B supply, membership utility (fee discounts, better GLP/vault access, higher yields when locked)
– First buyback/burn completed: 1.1M GRVT (0.96% of circulating), monthly program intended
Catalysts are stacking hard over the next 5–6 weeks:
– Grvt Earn (end of October)
– Stable Funding Perps - zero-fee RWA markets, targeting 1,000+ by year-end (November)
– Yield as Margin (November)
– Grvt 2.0 full investing app + new brand + 2027 roadmap (end of November)
If they land the single self-custodial balance that earns while you trade crypto + RWA perps, the narrative + volume loop can get loud.
At current valuation the r:r looks rly good. #NFA.
I’m bullish on ethereum:0xad29f2723fcdbcf665f210f25e06f97477e417cf as one of the cleaner product-led bets in the hybrid perp + RWA space right now.
The core product is already shipping model (off-chain CLOB matching + ZK Validium settlement on ZKsync)
> ~180–200 markets across crypto, equities (TSLA, SPY…) and commodities (gold, oil)
> Up to 50x, negative maker fees, no KYC since mid-2025
> Privacy + self-custody without the usual DEX UX tax
Metrics are quietly strong relative to the token:
– ~$500M 24h perp volume, 451M OI
– $14.65B 30d volume
– $440B+ cumulative volume
– TVL only $33.7M (highly capital efficient)
– Token at $0.24 → $27.5M mcap / $241M FDV
That’s a lot of actual trading flow for a token still priced like an afterthought.
The real edge is capital productivity. Margin already earns yield (via fees + rehypothecation to Aave/USDY).
They’re expanding this into a full Earn product backed by tokenized fixed-income assets (target up to 11%) and Yield-as-Margin so the same balance does both.
Token side is also tightening:
– Fixed 1B supply, membership utility (fee discounts, better GLP/vault access, higher yields when locked)
– First buyback/burn completed: 1.1M GRVT (0.96% of circulating), monthly program intended
Catalysts are stacking hard over the next 5–6 weeks:
– Grvt Earn (end of October)
– Stable Funding Perps - zero-fee RWA markets, targeting 1,000+ by year-end (November)
– Yield as Margin (November)
– Grvt 2.0 full investing app + new brand + 2027 roadmap (end of November)
If they land the single self-custodial balance that earns while you trade crypto + RWA perps, the narrative + volume loop can get loud.
At current valuation the r:r looks rly good. #NFA.
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