Chapter two can pay in the double digits.

Same engine. Bigger numbers. Not naming names yet.

Already in the works 😎

PARE went from ~25M to 8M (with dips into the 6-7M range) over the past few days.

I've had a lot of questions DMed to me after my last thread.

Here's an update to my thoughts on where we are at and where we go from here.

Nothing goes straight up, especially on a newly launched protocol that's mostly trading on future expectations.

The price of robinhood:0x15d36b6a28d8327abc7afabf0f106ae2c9af5c4d is (probably) capped for the next 10 days while the market absorbs the following:

- audit released Sep 19, which is in 10 days
- liquidity rotation from RH to chase other eco plays
- 40%-70% dips on most of the RH coins scaring buyers

PARE Audits + new markets (lending, etc) will probably radically reprice the protocol because it shows the devs can and will ship the live product they are promising. From there it comes down to the growth story.

Until then, price will probably go sideways, maybe with some dips depending on the overall Robinhood market.

My gut feeling is to accumulate the more interesting financial protocols on this correction as attention rotates away from RH, on the expectation that it will certainly come back and twice as hard, which could be at any moment. Vlad could nudge the eco in any number of ways, which would send the entire eco on another mad rush up.

However, this market dip is a fire sale for those bullish on the chain's future growth, and the projects helping shape that future growth.

For me, @PareStocks is one of the most exciting and interesting bets we can make right now in that direction.

WHY?

We are talking about the activation of a new financial primitive.

Onchain equities are still a very small (brand new) market. Exponential growth will happen over the next 6, 12, and 24 months.

And markets for split onchain equities are pretty much zero.

It's a brand-new market category forming here. It will take time for the new primitive to percolate through the market, for builders to build on it, and for these nascent markets to expand and attract liquidity.

But @PareStocks is basically at the front of this, building this new financial category from zero.

Seeing Pendle rapidly activate in this very same market, chasing PARE's move in fact, which was the first mover, only validates that this is a new market with growth potential worth chasing.

Compared to Pendle, which is sitting at a stagnant 500M FDV, and which jumped onto RH this week like the very drowning man it was—a company whose entire future market cap was staked on offering future yeild on rapidly inflating crypto tokens—PARE STILL has significant upside in this market.

In fact, the upside has not even begun yet!

Even with Pendle entering the same market now, just a 10x growth for robinhood:0x15d36b6a28d8327abc7afabf0f106ae2c9af5c4d is still less than 1/10 the cap of $PENDLE.

Delivering literally "anything" substantive into this brand-new market where nothing exists yet leaves room for significant future growth here, a bet I am certainly willing to make.

This new market is literally going from ZERO to a few thousand right now to millions, and then potentially billions, then 10s of billions, and even hundreds of billions over the next few years.

Think about what that represents here.

Where are we right now, and where will we be?

What kind of growth story is possible?

And what will it mean for the companies directly building the financial railroads of the future?

@PareStocks is building a brand-spanking-new protocol right where it'll matter most, poised for an asymmetrical growth explosion.

It's in a fucking fantastic position if they execute a fraction of their vision.

We are in the womb right now, still waiting for the birth, but this is a child that might grow up to become a superstar.

To me, a 7 to 10M market cap is a cheap bet on that future.

The main risk is the team's ability to execute, the fear of failing to do caping growth right now.

Only time and delivery can alleviate that.

So we have to earn trust with the audits and then the launch and opening of the markets (i.e., the launch of the protocol essentially).

So until that's proven in deed, the market cap will be (rightly so) limited and trade on vibes and future expectations.

So that's the risk here.

The dev is anon, but the audits are a big move in the right direction for building trust. I seriously hope that at some stage of protocol growth, the dev will consider doxxing. This will help attract future liquidity, though it's not necessarily crippling if the protocol is deemed trustworthy with audits + time.

But if the team starts to execute, they are surfing at the apex of a future financial tsunami that's going to flood every corner of the financial industry; that's going to drench and soak into every little crack of tradfi as it moves onchain.

For me, I'm going to buy that future at a discount right now.

Been in fintech security for nearly a decade. You pick up how these markets actually work along the way, including the parts regular people never get near.

With RWA coming on chain, some unique opportunities came up! Thats why i built @PareStocks

This account is me, not the brand... I'll say the stuff the brand account can't

You know a team is doing something right when the big platform decides to rip them off. This validates my thesis for @PareStocks $PARE

Truly $pare may be one of the best teams on Robinhood chain.

Constant updates, great social media presence, one of the best audit firms going over contracts.

If Vlad liked index there is zero doubt in my mind he will like $pare

Send it to 100m, should flip $index soon tbh.

A future 1B blue-chip market-cap project arrived on Robinhood last week, and it's called @PareStocks ($PARE).

PARE is ushering in a zero-to-one moment for onchain equities, and I want to have my hands so deep inside of this that they come out the other side.

I actually had this post about $PARE queued up almost three days ago, when the market cap was only 2-4M.

But I didn't want to post it until I finished my accumulation. But the price blew up far faster than I expected as smart investors started to recognize what's going on here, and I've had to top-blast my entries 3-4x higher than I expected, so here we go with the post anyway.

So sit down and hear me out on why I've been going all in on the next billion-dollar infra project.

There comes a moment when you spot a generational opportunity.

You have two choices before you:

1) You dither, you wait, you wait for a better entry, you wait for the team to dox, you wait for an x,y,z influencer to give it the nod of approval, you wait for your wife to give you permission. And by then, the price is already 5x higher. You don't buy in, and you regret it for the rest of your life.

2) You say fuck this shit; I don't want to waddle around in this shit muck of the trenches; I want to fucking retire my bloodline. You grab your balls, and you fucking buy, and buy, and buy, and you don't sell. Then you fuck off to Koh Phangan pre-rich for a year to do silent meditation and yoga to prepare your mind for the vast wealth you are coming into.

And one project I am convinced is that bet is @PareStocks.

Yeah, yeah, this is the part where I say IF they execute and all that. We all know that teams can fail to execute.

Investments are risky; the team could fail, blah blah blah.

So with that said, NFA and all, I'm just detailing what I am doing personally: sinking my entire portfolio balls deep into PARE.

But if they don't fail here...you win. You win big here.

I'm convinced this is Robin Hood's golden project. The mascot project for everything Vlad and co want to see expressed on his new baby chain.

I'm so convinced that I've been consolidating a good deal of my scattered positions into this single bet. $HOOKR and $PARE are my main positions now with a handful over other smaller infra plays.

WHY THE CRAZY CONVICTION

This cycle, we have a new class of toys to play with: RWA, especially in the form of onchain equities. Anything building in that direction is going to get drenched in market attention, especially projects offering something entirely new to the market tied to onchain equities.

PARE is building a nascent financial primitive, which I think is going to be a brand new DeFi primitive that will give birth to the formation of new and unique capital markets around onchain equities, something that has not been possible till now.

PARE is doing something that has never been done before, on any chain: splitting onchain equities into two discrete units: yeild and principal, and forming entirely new markets around these. Robinhood Chain stock tokens do not pay out dividends. There is no way to access them as they are locked inside the token.

What @PareStocks does is rip that dividend, that little piece of future yeild, right out into two erc20 tokens that can then be plugged into the wider DeFi ecosystem.

This is the beginning of a new financial base layer with entirely new products, apps, and services that can be built on top of and around it.

And even more, it's plugged right into the mainframe of where the entire onchain market is going: bridging tradfi with defi.

Building infra around onchain equities isn't servicing the whims of some juiced-up, reta-broccoli-head crypto bros pumping their cabal tokens. The target is the trillions and trillions of TAM siloed away into ETFs, equities, funds, and the like.

Literally, what happens in the crypto markets means fuck all when your customers are sovereign wealth funds, pension funds, and corporate investment funds.

That's the market we are going for. That's the market @PareStocks is creating from scratch here with a new composable financial primative.

Consolidating around a new thesis bet. I'm investing in brand-new tech that enables a 0-to-1 moment. And this is one of those moments.

That 'oh fuck we can do something new' moment that ushers in a Cambrian explosion for DeFi (and the entire crypto space). And I think this is part of that moment, if not the center of it, part of the confluence.

And from that 'new thing,' a whole slew of unexpected, unplanned, and totally new things can be built around it.

You might call these primatives or simply new innovation foundations on which other bricks can be laid.

V4 hooks, via @Hookrfun, I feel, are one of those technologies that enable NEW kinds of DeFi primitives to be built up.

And @PareStocks is targeting an even wider market because it's not going after crypto, but the entire financial markets outside of it.

After grabbing a large, early position in @PareStocks (see one of my posts a few days ago where I powered in at 800k, 1.2M, 2M), I've become more and more convinced (once it was clear the team is legit), and I've been increasing my position.

PARE is now my single most concentrated bet right now, and I'm continuing to add.

I already have a good position size. Like, pretty huge.

But I AM STILL ADDING more even at 13-15M. Because this is not a fucking copycat, cabal-shilled pile of shit. This is something innovative that can go after the big-money non-crypto TAM with new ways of earning yeild that did not exist before.

I think this is a legit, groundbreaking new DeFi primitive. This is NOT another launchpad, memefi, lending platform, or liquidity provider.

This is new, never-been-done shit, right in the center of the onchain equity maelstrom. If there is a single project that hits ALL the narratives forming around RobinHood, it's this.

PareStocks is a 1-0 moment for onchain equities. Pendle, which at its peak was a 1.2B platform, broke tokens into principal and future cash yeild units, allowing whole new markets to be built around this new financial primitive.

ParaStocks is looking to do the same with onchain equities, which is potentially a much bigger future market.

And right now, it's an untapped market. Onchain equity tokens with dividend yeild are locked together. PARE splits the tokenized equity into two erc20

This is NOT just 'another yeild aggregator' or 'another liquidity provider' or 'another lending platform '.

No, this gives birth to a new onchain primative, a foundational money layer onto which money bricks can be built.

How can you easily price this? You can't, I can't, and you can bet the market can't either.

Novel new financial primatives = unchecked, ridiculously high market caps.

This doesn't just hit the narratives to first base. This one smashes the narrative ball so far out it hits the stadium lights on the ceiling as it flies out of the ballpark.

We are still early.

The team needs to pass the audit.

The team needs to launch the early lending markets

We need to see the market size grow and prove out.

But if so, we go up hard.

I don't want to lean into speculation too much, but since I'm calling this the next billion-dollar protocol from a mere 10-15M (and I was buying below 1M), I might as well go all the way.

This is exactly the kind of project @vladtenev would want to see on RobinHood. And it's the kind of project I could see him following closely. Make of that prediction what you will.

Also, the team seems a bit...too competent here. This doesn't feel like something a rookie vibe coded. There is some serious planned engineering going on here. Someone with intimate knowledge of the financial markets and a deep knowledge of DeFi engineering.

Look, I could be wrong. The dev/team is anonymous here. But it almost feels like this is the actual Pendle team or someone from the core team building this out.

2020 DEFI CLEARN TOKENOMICS

This project also reminds me of the OLD 2020 DeFi days where there was 100% fair distribution (well, as fair as it could be back then with Andre C and his crony cabal in there staking with large piles of ETH for 100% of the distribution hours and days before the contracts went live to the public).

From the docs: parestocks.com/docs
---
"There was no presale, no private round, and no team allocation beyond the 2.26% above, which is locked. The entire remaining supply was placed into the launch pool at deployment, so the first buyer and the hundredth bought on the same terms."
---

So the team's wallet is 2.26% (22.6M $PAR), locked in a smart contract for a set duration.

This was a fair distribution. It came out at like 15k MC, and anyone could buy in for a day under 1M. I personally loaded up at 1.2, 700k, and 1.9M. Then again when it fell back down from 6M to 2.5M, 1.8M. And again at 8M and 12M. And again at 15M!

SUMMARY OF TOKENOMICS

No team vesting; no supply overhang. There are no VCs in seed rounds who paid pennies on the dollar with a token distribution chart that will look like the @celestia tokenomics, which were just a team/VC created honeypot to dump into retail.

Protocol revenues (swap fees feed back into $ PARE buybacks and burns, making it deflationary as volume scales.

From the docs:
----
"The protocol earns from the 10 bps split fee and the 5% fee on the YT drip at maturity, plus swap fees on the liquidity it provides itself. That revenue is directed two ways: deepening the protocol's own PT and YT pools so each series trades tighter, and market-buying and burning $PARE. Both are funded by usage rather than by issuance — there is nothing to print."
----

Revenues come from real yeild earned from markets built on the protocol, not via token inflation as payouts. Not yet any direct revenue sharing back to the token, but @PareStocks could add something to new vaults to bake even more value into the token.

Basically the distribution is clean (no vesting overhang, no VCs, 100% distributed), the tokenomics are outstanding.

We have not seen anything like this for a long while. Not since 2020.

This is a chart that can fucking run here.

Frankly, if this team came out doxed and went the whole VC raise route, they could probably raise 50-100M at a 100-200M valuation and would fill the cap table in a day.

And I fully expect copycats to come flooding out with projects trying to raise $ on the same idea.

But guess what, PARE is the people's protocol, the fair protocol, and no VC-spawned bags are going to outshine this.

I'm getting the same tingles I had when I first looked at HOOKR back in early August. And yes, PARE has pumped to 15M now. It's no longer a dirt-cheap bet, but it could reach hundreds of millions and even a B. It's that kind of project.

So pay attention to @PareStocks. I strongly feel this will be one of the foundational new protocols built on Robinhood.

There are 190+ stocks on Robinhood Chain and 54 of them pay dividends.

Every one of those dividends is stuck inside the token. You can't trade it, you can't price it, you can't borrow against it. Nobody has built the market for that yield.

Pendle built it for crypto yield and . Stock dividends are a far bigger pool of yield than anything Pendle has touched, and they just arrived on chain.

We're the first to do it. Nobody had separated a stock from its dividends on chain before PARE. Now it's live on four series.

Gm

I have been an @Azuki holder from mint day and supported the project publicly through thick and thin, high and lows.

What I always appreciated was the energy and the conviction that the team cared about holders and that collecting was at the heart of the project, given the the great depth of the collection thanks to the amazing talent of @steamboy33

Today, it pains me to say that the care for holders has evaporated and leadership has become tone deaf.

The recurring reason given is priority is to TCG. But very basic stuff like maintaining a functioning sales bot on X is lacking which is shocking for such a collection.

This is at a time where other collections led by BAYC have established OTC grail desks and are putting strong emphasis on collecting.

This is also at a junction where the digital art space and pfp collections are coming together. But Azuki doesn’t seem to have any interest whatsoever in partaking in this.

I am writing this on the same day I purchased one of the most iconic spirits (featuring in this post).

I feel that calling this out publicly is the only way to get heard.

Cheers

I know the market is still bearish on NFTs

And even die-hard NFT holders are bearish on Azuki

@Azuki has fumbled the web3 side since the TGE, ignoring what they built to focus completely on the web2, vaporizing much of the lift that made them relevant.

I don’t disagree with th a product (I like the TCG) but by not engaging their web3 engine to power their vehicle, they’ve left out most of their horsepower.

I hope they return to their roots and integrate the entire NFT and token ecosystem into what they are now building. It would turbocharge their IP and ecosystem again and empower their community like nothing else.

But hear me out

If Azuki actually goes back to the web3 side and decides they are relevant again and NFTs run it up again one more time...

These spirits might be a steal...

I am a Web3 Ambassador at World Liberty Financial.

There are 12 of us on the team page. 4 are named Trump. 3 are named Witkoff. The page calls us "the passionate minds shaping the future of finance."

600,000 wallets bought our memecoin. They lost $3.87 billion. The family in trading fees. It launched 3 days before the inauguration. 80% of the supply went to CIC Digital LLC and Fight Fight Fight LLC. I did not choose the names. I designed the allocation, the vesting, the timing, and the distance between the product and the President.

The distance is my best work.

I am the reason these events are unrelated.

World Liberty Financial sends 75 cents of every dollar to DT Marks DEFI LLC. That is the family entity. Zero capital contributed. Zero liability assumed. I wrote this into the Gold Paper. Page 14. The lawyers bound it in white leather. The binding cost more than the due diligence.

Justin Sun invested $75 million. He was facing SEC fraud charges. The SEC dropped the case. He is now our advisor. These events are unrelated.

Changpeng Zhao pleaded guilty to federal money laundering violations. He received a presidential pardon. The SEC dropped its lawsuit against his exchange the same week we listed our stablecoin. Then the exchange settled a $2 billion deal entirely in that stablecoin. These events are unrelated.

Arthur Hayes, Benjamin Delo, and Samuel Reed of BitMEX pleaded guilty to Bank Secrecy Act violations. All 3 received presidential pardons. Then the company itself was pardoned. $100 million in fines. Gone. An American first. These events are unrelated.

Sheikh Tahnoun of Abu Dhabi paid $500 million for a 49% stake that was never publicly disclosed. Then the administration approved semiconductor exports to his companies over national security objections. These events are unrelated.

Everything is unrelated. I track the unrelatedness on a dashboard I built. The dashboard has 7 columns now. I am proud of the dashboard.

On May 22nd, 220 people paid a combined $148 million to eat dinner with the America First president. Over half were foreign nationals. Justin Sun paid $18.5 million for the first seat. He visited the Executive Office Building the day before. I designed the seating chart. I put it on the Investor Confidence page. That page is doing well.

The team page lists 3 Witkoffs. All 3 are Co-Founders.

Steven Witkoff is the President's Middle East envoy. He testified as a character witness at the President's fraud trial.

His son Zach runs the crypto operation. His son Alex is also a Co-Founder. I have not been told what Alex co-founded.

The father runs the diplomacy. The sons run the platform. The family runs both. That is organizational efficiency.

Barron is 19. His title is Web3 Ambassador. The same as mine. Donald Jr. called the conflicts of interest "complete nonsense." Eric launched a Bitcoin mining company called American Bitcoin. America First. The mining partner is Hut 8. Hut 8 was founded in Canada. America First means the name.

On March 6th, the President signed Executive Order 14233 creating a Strategic Bitcoin Reserve. The order directs the government to hold Bitcoin. The President's family holds billions in Bitcoin. The executive order appreciates the President's assets by presidential decree. I did not write the executive order. I made sure it looked unrelated to the portfolio.

Trump Media put $2 billion of Bitcoin on its balance sheet. The ticker symbol is DJT. His initials. The press secretary said it is absurd to insinuate the President profits off the presidency. Forbes calculated his crypto holdings exceed the combined value of Mar-a-Lago and Trump Tower. I would call that absurd too. That is my job.

600,000 wallets bought in. 1 of them asked why she could not withdraw her funds. I told her the protocol was experiencing dynamic market conditions. She asked what that meant. I sent her the Gold Paper. She said she had read the Gold Paper. I muted her channel. Dynamic means the conditions change. The condition that changed was her access.

A congressman called us the world's most corrupt crypto startup operation. We put it on a coffee mug. Ironic merchandise. $45. The revenue split on the mug is also 75/25.

My own tokens vest on a different schedule. I wrote that schedule. That is not in the Gold Paper.

The memecoin funds the family. The family funds the platform. The platform funds the stablecoin. The stablecoin funds the deals. The deals require the pardons. The pardons free the partners. The partners fund the platform. The President signs the executive orders. The executive orders inflate the assets. The assets fund the family.

I am the reason these events are unrelated.

my new anime for lmk (ft @Azuki #5498) is out now via NIGHTMODE <3

creating an anime for one of my songs has always been a dream of mine so ty to @phuncal for helping this dream become a reality

blessed to be able to feature my bros azukis as well @MINHxDYNASTY @MiKeMeUpP @dingalingts @IcedcoffeeEth @konger_eth @0xseraph

and for @jasonfromkaizen for passing me the shotty in the anime lmao

Hyperliquid has effectively scammed all the Hyperliquid ticker auction buyers by seizing $MON from @monprotocol and handing it over to Monad.

The whole value prop of even buying these spot tickers from Hyperliquid was the immutability of the purchase and the hyperliquid front ticker the value.

Regardless of the size or success of the token tied to the seized ticker, having Hyperliquid just seize the ticker, quoting just a 'UI change' and hand it over to Monad is the wrong precedent and an injustice to every single ticker buyer who in good faith invested capital into the future success of Hypeliquid.

Not a single one would have bid on any ticker if ownership of that on the Monad frontend was not immutable.

They should offer full refunds to every single aucction ticker buyer.

Shame on them.

Shame on @chameleon_jeff and
@iliensinc, who I thought were better than this.

A number of the spot ticker auction sales went for mid-six figures. One even sold for almost 7 figures.

Some of the higher sales (not all):

GOD for $975,700
ANIME for ~500k
MON for 489K
SOVRN for 262,660.17$
FLASK for 159,794.44$
FARM for 181,291.25$
HYFI for 90,652.95$
SHEEP for 111,683.24$
BUBZ for 118,531.66$
SOLV for 128,345.67$
GENESY for 87,198.02$
WATAR for 73,940.75$
STAR for 66,889.45$

Why were these tickers bid on so high?

Because the teams that bid on them were essentially paying for future distribution rights for their token by having it spot listed on Hyperliquid.

You are NOT paying for some useless backend on-chain ticker that no app will use or support with zero practical utility.

HYPE bag holders will no doubt go into defense mode and try and justify this, but try to understand what's happened here and how negative this is overall.

Let me tell you a little story with you as the protagonist.

1/ You fairly buy a sought-after apartment in a prime city center location at an open auction from a well-regarded developer. The developer has decided to try a new real estate sale format, offering anyone the ability to buy the property for life if they bid the highest.

2/ You participate, and to guarantee you win, you pay a huge premium for that property because the house is literally in a perfect location, a location that will match the life you intend to create for yourself.

3/ You move into the apartment, you furnish it, and you even set up a little home office in it. You invite family to stay, you host events with friends, you slowly make this little space yours. This is your very own apartment, bought from a developer with an impeccable reputation for honesty who prides itself on building quality affordable housing in a city where most developers do not.

4/ But suddenly, in just under a year of owning and living in this property, this developer informs you that a very famous, very wealthy celebrity wants your home. That celebrity already owns multiple houses, but your house is in a prime location that would allow quicker access to his favorite art gallery. The property developer also stands to gain because the celebrity will bring a host of free publicity to that developer by owning that property. The developer will be able to sell even more properties because of that and earn even more money in the future!

4/ The developer, let's call them @HyperliquidX, despite your protests that you bought that home fair and square, forcibly transfers your title deed to the celebrity and then suddenly evicts you from your home. To honor *some* of the terms of the auction sale, but not the spirit of the purchase, you are instead handed the title deed to an apartment outside of the city, in a poor and undesirable location, worth a fraction of what you paid (if anything) on the open market.

5/ Since you LOST the property you actually paid for, you at least ask for a refund because you did NOT get what you paid for, but are told no refunds. Why? Because the developer had a little sneaky line in the sale contract, which stated that the developer fully owns the actual building location, and you were not really buying a title deed to that specific building address, but just 'any' single building the developer owns in the city. Unfortunately, this little side clause was so obscure and written in another language that none of the apartment buyers even knew it existed.

----------

This story is real, and it's what @HyperliquidX has done to @monprotocol in essence.

You can call it what you want. Say that nothing was violated and the ticker on the chain remains the same, and that the UI for the ticker is on hyperliquid.

But I call it theft and nothing but that.

Now I've been a fan of what Hyperliquid has been trying to do over the past year, but what they have done here violates everything they have stated they are about.

@Pixelmon spent $500k to secure the $MON ticker on the hyperliquid ticker auctions.

Did they wildly overpay in hindsight? Yes.

But they fairly won that auction with the full expectation that they would have control of that listing name ON the hyperliquid platform for the foreseeable future.

Only to be kicked aside and have the ticker forcibly changed because of a much bigger project @monad decided they wanted to use the same ticker and Hyperliquid decided on it.

Yes, Pixelmon's gaming token is down 97%.

I should know, I had massive bags there that I did not sell.

Despite web3 gaming pretty much dying and the mon gaming token along with it, the Pixelmon team has been building non-stop and just globally launched their flagship game @wardensascent on Apple Store. They are certainly not dead, nor have they abandoned their community or token.

Oh yes, 'technically' Hyperliquid is only changing the 'front end' UI while the ticker remains unchanged on the chain itself. But in practice, this is basically the open theft of that ticker.

The value of the Hyperliquid spot ticker was ALWAYS primarily the front-end ticker displayed on the platform. Why would anyone possibly pay inflated prices for a ticker when the exchange can (and will) change the name arbitrarily when it best suits their business interests?

What value is there then for all those spot ticker purchasers? Any bigger project can come along and hijack (for free!) your ticker because Hyper will just straight out hand it to them when the trading fee incentives are there.

You don't buy a non-trademarked domain name only to find out, suddenly after you buy it and build a business on it that another bigger company that wants to build a business on the same name can just seize it for free.

So yeah by basically forcibly changing a legitimately paid for ticker, @HyperliquidX has undermined their stated ethos. It's a bad look on their part and shows the company, under the hood, operates much like the very same CEX platforms they claim to be disrupting.

Bad look. Hyperliquid needs to make this right. At the very least, a choice of a better name AND a full refund because what was paid for was basically seized by force.

This is the best web3 game and it's not even close. Highly addicting when you assemble a full squad and start evolving them. Give it a play.

I’ve been a Hyperliquid maxi for a long time, and HL still remains my largest position in Web3. But a recent decision by the team has been extremely disappointing to see.

Earlier this year, @monprotocol acquired the $MON ticker on HL for ~500k:
x.com/monprotocol/st…
The interactions were frustrating, and the Pixelmon team wanted to align with a fully decentralized venue. The token ultimately didn’t gain much traction on HL (very low volume, practically a waste in hindsight), but at least the team had secured an immutable asset.

Fast forward to Monad’s launch, and suddenly the MON ticker on Hypercore now refers to Monad, not Pixelmon. So I checked with the Pixelmon team assuming they must have sold the ticker.

Turns out they didn’t.

Hyperliquid simply changed the frontend names:

Pixelmon is now shown as “Monpro” on UI (but still $MON on-chain).

Monad is shown as “Mon” on UI (but is actually $UMON on-chain).

So technically the ticker is immutable, but from a consumer perspective the actual UI identity has been reassigned. And realistically, no one cares what the ticker is on-chain when the UI shows something else.

If this isn’t effectively a ticker grab, what is it?

Pixelmon paid 500k for something that the frontend can override at will, while Monad (or rather @unitxyz, who is clearly closer to the HL team) gets the visible name without paying for it.

To be clear, this doesn’t materially affect Pixelmon’s future. But on principle, it’s wildly disappointing.

Is this the ethos Hyperliquid wants to stand for?
Centrally aligned players first?

What message does this send to smaller teams who choose HL because they believed “listings without fuss” meant UI consistency and fairness? Are we now saying:

“You can buy the on-chain ticker, but we’ll decide the visible name depending on who we talk to”?

Tagging @chameleon_jeff @iliensinc because this seems like a serious breach of HL’s own stated values, and I’m not sure whether this decision was fully acknowledged at the top.

For clarity:

Pixelmon ($MON): 0x622cf551933f19f9136303dcab56488c

Monad ($UMON): 0x58dae745c8c5fed4012f35ef39829c2d

Frontend:

This requires an explanation imo and its not about this particular case but more problematic for the overall direction team wants to take. To me this is a clear slap on the face of smaller teams being allowed to be strong-armed by privileged partners.

@sershokunin can you also pitch in as to what happened here?

This is a founder who understands web3. 🫡

TLDR of the Binance situation

If you want your token to pump, insider control has to be highly concentrated, especially early on.

Okay as promised to @Azuki @AzukiWatchclub here is a quickie review for my elemental Earth dial @HMoserCie Enjoy!

The @Azuki &amp; Moser collab will go down as one of the best ever luxury crossovers in web3. I feel honored to be part of this history. 🌊

Where my @AzukiWatchclub homies at?

Price action is everything in crypto. You can start off with the most amazing community, but if your price is down only, the vibes will slowly shift and people move on. This is not unique to @Azuki, it is crypto 101.

I've been in dozens of projects where the vibes are immaculate during the bulls, and they fall off a cliff during bear markets. No partnerships or community outreach is going to affect your vibes until the price starts going back up.

As a holder you either believe the price action will eventually go back up (I do) or you don't. If you believe $ANIME is underpriced then just be patient and keep yourself busy until your thesis comes true.