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How’s business? Great to e-meet.

Most of crypto is an experiment in how long you can market a non-existent product before your followers get smart & leave

Crypto rewards marketers most Since tech is commoditized, there are no moats, & users are mercenaries

Original tweet now deleted but hilarious sequence of events: From "HYPE is just a memecoin" to "HYPE is as close to tokenized equity as it gets" Lots of education on Hyperliquid still to go

Yes I know it's extrapolation crime, but at one point yesterday Hyperliquid did $600k in fees in an hour...or $5.2 billion annualized That's 1 U-Haul of revenue

Summary of @chameleon_jeff's key points on Steady Lads: - Markets still very active, traders not quiet til much later in a downturn - % of Binance/Bybit volume are primary internal metrics, but don't tell the full story - most people think they're just building an exchange, but it's a lot bigger than that & the perp DEX is just the 1st building block - HLP was a very intentional decision early on to make market making more transparent & community-owned vs the landscape of Alameda & other insider strategies at the time - Hyperliquid is much more decentralized than critics give it credit for, has had 16 validators (who you can talk to) since December - Doesn't harbor ill will toward CEXes for listing JELLYJELLY on perps, says he wouldn't have done it personally "but business is business" - Doesn't view Hyperliquid as a direct CEX competitor, think CEXes & DeFi should co-exist, & Hyperliquid is building how a significant portion of finance should operate on-chain, the original vision of DeFi

Have one community partnership for /awaken that prob converted more than all other paid campaigns combined Insane marketing campaign power laws in crypto

Max pain is going to Europe for a week & thinking the trip paid for itself thanks to HYPE bids that filled at $13 but realizing when I get back that they never filled because I accidentally set them at $12 instead

"Everyone bullish on stablecoins but no way to invest" If you have keen eyes, the stablecoin wars are already happening (& investible) somewhere Hint:

When you're trying to organize votes but you run out of votes & now you're getting voted for too

Interesting how no one seems to have web3 marketing figured out yet Game is constantly evolving as well, certain channels significantly underperforming vs last year As always, organic on top

Been shipping a ton at Awaken lately: - free Solana, Base, Bitcoin, Sui, & Hyperliquid - improved automatic imports & labeling for all the above - AI assistance for labeling transactions - mobile app for portfolio tracking Bringing the next millions of users onchain starts with seamless tax & tracking 🫡

ICYMI lots of discussions about Hyperliquid & the impact of recent traders' flow on HLP One wallet exited a $200M+ ETH long by withdrawing profit & letting it get liquidated / taken over by HLP with almost no slippage (HLP lost $4M while closing the position) Hyperliquid reduced max leverage on ETH & BTC as a result, & now requires 20% margin ratio when transferring/withdrawing collateral The trader has tried again multiple times since with varying success (lost $100k trying on LINK today) Separately, a suspected insider wallet continues opening very large positions to farm copy traders after its famously success on a very large ETH long just prior to the announcement of the strategic crypto reserve

Ideas for CTG forks: Crypto the game but .01 ETH entry Crypto the game but 1 ETH entry & you get it back at the end (winner gets 1 week of yield on the prize pool) Crypto the game but anyone can be voted out at any time, no daily cadence What else?

wen TGE, wen unlocks, wen vesting Meanwhile the best seed investment of 2024 had no token & was an absolute cook for equity holders

Was amazing to meet @garrett in-person for the first time at ETH Denver & he convinced me to start posting about Hyperliquid here Curious what people on Farcaster think of Hyperliquid generally, the biggest criticisms/questions ppl have about it, etc

I just joined @lunchbreak! Want a seat at my table or shoot me a message? Click on my profile here 👇 https://lunchbreak.com/luke?ref=luke

Minted 6! How did I do?

No one is talking about Blast on my feed Interdasting…

Just went live on Sanko to stream CryptoFightNight (Ansem v Barney is in a bit) Also, wen in-frame streaming? :) https://sanko.tv/lukecannon727?ref=lukecannon727