While doom-posting bears tell you that the world is ending and crypto will soon be eradicated, and over-exposed bulls swear that $BTC will soon follow the M2 money supply, I say, why not read LebThree’s latest newsletter and score some alpha?

We’ll start by breaking down the beauty (and the risks) of hyperliquid’s pre-market feature, which has proven to be both very lucrative and very dangerous.

Next up we will discuss one of MetaDao’s earliest launches, which could change the way on-chain DeFi operates, while still being at a very low market cap. 

Finally, we’ll have a look at what could be Solana’s answer to the perp-dex craze, and how you can get exposure just by holding some sweet $SOL. Deep breath... Let’s get it.

It’s no secret that the decentralized trading world has gotten a whole lot more interesting lately thanks to Hyperliquid, and pre-market is just another innovation to make the $HYPE deal sweeter. 

Why bother waiting for your favorite L2 to launch and TGE, when you can just have a perpetual contract that lets you trade the token before they even hit a spot exchange? Now this is true technological advance. We can trade $MON, $CC, and any other token while having a realistic valuation and an opportunity to hedge allocations and 

Oh… Oh shit.

Right, so this privilege comes with a massive dose of risk. Unlike regular perpetuals, Hyperps lack a stable spot index price for grounding, meaning the entire market is dependent solely on the order book's liquidity, which can be dangerously thin.

There's only so much liquidity in those books, and since it's an isolated market within hyperliquid, there are no external pricing tools to help market makers arbitrage and regulate price.

Recently, both $MON and $CC saw leverage cleanses to the upside, sweeping all possible shorts and violently pump and dumping the price within minutes. This isn’t new either, we saw the same thing happen to $XPL not too long ago.

Even with the transparency Hyperliquid offers, the team has had to scramble, recently rolling out updates like integrating external pre-launch data from competitors and introducing temporary price caps to try and stabilize the mark price. Despite these fixes, the core mechanics are simple: these pre-market contracts are highly susceptible to being gamed, and the mark price is far from a reliable oracle.

Pre-markets are a dream in theory, but turns out they are extremely hard to create in a safe manner. The amount of shorts that pile up as people lock in their airdrop allocations price (Monad was trading at a whopping $16B upon release) is impressive, and squeezing them is oh so lucrative.

For now, the only real way to use those is to either long (But projects are usually very over valued) or have an omega over-collateralized account so you don't get liquidated on scam wicks...Or you could try this as well lol

When looking at the DeFi ecosystem today, the difference in starting capital for projects is pretty crazy, often separating the venture-backed behemoths from the true decentralized innovators.

On one side, you have the heavily-funded players: a protocol like Andre Cronje’s Flying Tulip recently secured a staggering $200 million seed round with a fully diluted valuation of $1 billion, promising an all-in-one financial experience.

On the other side sits a project like Omnipair ($OMFG), which launched on Metadao and currently holds a circulating market cap of around $7.25 million, making it a genuine low-cap sleeper that’s building something fundamentally different.

Here's why it's different; it introduces a Generalized Automated Market Maker (GAMM) model, which is a key innovation because it entirely unifies liquidity for both token swaps and lending within a single pool.

Omni allows anyone to lend, borrow, and trade any token with leverage utilizing GAMMs, which is what makes them so interesting. In one pool, you can now lend and borrow using idle capital, which also means you can loop, allowing you to leverage any position, on any token.

From a revenue perspective, this unified GAMM model gives Omnipair a powerful advantage over traditional Solana DeFi protocols like the original Tulip Protocol, which operated primarily as a yield aggregator layering on top of isolated lending markets.

Omnipair eliminates the traditional liquidity segragation, ensuring that a single deposit of liquidity earns dual revenue streams: both swap fees from traders and interest from borrowers. This dual-earning structure translates to a significantly higher return-on-capital for liquidity providers, potentially generating revenue multiples higher per dollar of TVL compared to capital-fragmented lending or trading protocols.

This could also mean that a single deposit could be used to farm two protocols at the same time, from Omnipair's terminal.

TLDR: More capital working, less capital sleeping.

If DeFi does make the move towards oracle-free on-chain infrastructure, Omnipair’s immutable, autonomous design gives it a huge structural advantage over high-profile rivals.

The futarchy model is also interesting, but the focus here on capital efficiency and potential revenue share down the line is the most attractive part in my opinion. This is one of those asymmetrical bets that could really pay off, and at a $7m valuation, I like the R/R.

The holy grail of decentralized finance (Besides hitting 1000xs on shitcoins) has always been achieving the low-latency speed of a centralized exchange without sacrificing the security of self-custodial solutions.

Solana has long been dunked on by participants for the lack of reliable perp-dex, but the new player making a serious run at this is Bulktrade. The name is goofy, but the vision isn't, and according to their twitter intern, it's going to be huge.

What makes Bulktrade cool is its radical departure from traditional DEX design, explicitly aiming for "One Exchange, Infinite Markets" with zero gas fees on trades. We first saw this with Lighter exchange, which ended up being a monumental cook for early users.

Bulk claims to support millions of order matches per second and enforces the non-negotiable First-In-First-Out (FIFO) principle using cryptographic keys, which is designed to eliminate the potential for front-running (MEV) within blocks, which is persistent problem on slower chains like Ethereum.

They also raised $8M dollars from players like Wintermute and BBH last month, which makes those claims a little more believable.

The testnet should be coming this month, with plans to have a product out by the 19th of November, so how can you get involved now? Literally just stake your $SOL on their validator.

BulkSOL launched a little over a week ago, and is already up to 200k $SOL staked. This has been teased to be earning points in the background. Think of it as delegating Solana to their protocol, and you earn points in exchange.

There's a lot you can do with $BulkSOL at the moment, with partnerships on Loopscale and Exponent Finance, you can even trade their YT for leveraged exposure.

This might be worth while for numerous reason, but a big one if the fact that everyone is busy with HyLo, so this might end up being a good cook. I recommend looping $BulkSOL on Loopscale for increased efficiency and extra points.

[All topics are meant to be educational only. None of it is financial advice, please do your own research.]