metaDAO is undervalued and watching CT not understand the flywheel eco + revenue analysis has been very frustrating

again another late night rant

so i’m supposed to be asleep but i saw
@notthreadguy’s take comparing @metadaoproject to @pumpfun and i can’t sleep because this is genuinely one of the most midcurve takes that’s somehow gotten traction recently.

so i thought to elaborate my analysis here and let me walk through why this is completely cooked 👇

X: https://x.com/arndxt_xo/status/1997377025737359561

FULL article: https://threadingontheedge.substack.com/p/why-metadao-is-the-real-meta-for

All protocols on @solana to earn yield:

https://x.com/jussy_world/status/1997580795511500881

We are maturing into a more robust industry and these are obvious concerns that we should solve. @cz_binance shares some salient points.

Privacy is a big and yet touchy topic we are treading on. I have been a long proponent of privacy and that is the basic human right and advantage. As more institutions enter defi, blockchains will serve more of their purpose and become more opaque, they are exercising their privacy right.

I love seeing projects like @brevis_zk @aztecnetwork @CantonNetwork @AleoHQ building in the privacy space. And some recently popping in the @solana ecosystem @UmbraPrivacy @Arcium.

Onchain FX is surely to come. But can we compete with the spreads and fees from what current systems are offering? Love to see how the industry develop more towards tha direction. Current CEXes will roll that out the fastest together with commodity and could perpDEXes compete with that same advantage? No doubt @binance will win in that regard and all other CEXes will follow suit. Their presence in dubai and Abu dabi is a testament of their market dominance and their confidence in delivering that promise to users.

Onchain options is a very neglected topic becuase we’d have not seen them perform well. @TermMaxFi is one that I am pretty bullish on, building on @BNBCHAIN. There are others like @aevoxyz @HegicOptions but use case seems weak while @ProdigyFi a product of options.

Journey will be rough but we will get there.

https://x.com/arndxt_xo/status/1997647155297706281

i've talked about hypergamble capitalism a while ago and this piece accidentally makes the best case for why we're already living in it

@polarthedegen frames this as "hyperfinancialisation" but doesn't realize he is describing something more fundamental, we're not in capitalism anymore.

we're in hypergamble capitalism, a system where the primary economic activity is just betting on bets on bets.

the "ouroboros" described isn't hyperfinancialisation → hypergambling → more hyperfinancialisation. it's that we've reached the endgame where THERE IS NO DISTINCTION between gambling and investing anymore.

0DTE options, meme stocks, prediction markets, calling these "gambling" vs "investing" is a semantic cope. they're all just leveraged bets on vibes.

the part about socialism vs hypergambling as "dual responses" are responses to different stages of the same realization:

socialism = "the system is rigged, we need to redistribute"
hypergambling = "the system is rigged, so i might as well try to win the rigged game"

hypergambling is MORE rational because at least you're playing. socialism is just begging the already-captured government to fix things.

if nobody believes in institutional solutions anymore, so they gamble. this is hypergamble capitalism's primary mechanism: when productive work fails, speculation becomes rational.

when the math says "working hard = staying poor" and "taking risk = maybe rich," opting out OR gambling are BOTH correct answers. the cope is thinking there's a third option. hypergamble capitalism has already priced in that productive work is for suckers.

the Keynes quote about casinos is almost funny now. he was worried capital development would become a byproduct of casino activities. we're past that. we're at the stage where the casino IS the economy. concerning that market is correctly pricing degeneracy and that facilitating degenerate behavior is more profitable than building anything real.

the most valuable companies aren't building anything, they're building better casinos.

it's an INCENTIVE problem. why would anyone choose a good quest when:

building takes 10 years
exits are down 90%
meanwhile some kid made $10M on $TRUMP in 48 hours

you can't shame people into productivity when speculation pays 100x more.

we're in the natural end state of a system where all productive gains have already been captured by existing asset holders. when wage growth is 3% and asset appreciation is 30%, the ONLY rational behavior is to either own assets or gamble to get them.

this is why we've transitioned from capitalism (where capital allocation funds production) to hypergamble capitalism (where capital allocation IS the production).

i don't have a solution. neither does this piece. but at least be honest about what this is, they just don't realize they're writing the obituary.

https://x.com/arndxt_xo/status/1997856819679789384

Big Crypto Cards List (2025)

https://x.com/obchakevich_/status/1997693956126134740

My Current Bias, in One Line

I’m fatalistically bullish on risk assets in the near term, because AI CapEx, affluent-driven consumption, and still-elevated nominal growth are structurally good for profits.

Also, very simply when money gets cheaper to borrow, “risk assets” usually perform positively.

At the same time, I’m deeply skeptical of the story we’re telling ourselves about what this implies for the next decade:

X: https://x.com/arndxt_xo/status/1997985136005251370
FULL Article: https://threadingontheedge.substack.com/p/my-current-bias-in-one-line

today its 3am (not 4am) @sodnjm 👀

pondering over this and my best answer is always: consistency and being real to yourself (and others), not just particularly as a creator, which i didnt started out to be one. just so happen i became one

i know there are some things that people wont appreciate you (or me) for. i.e. my weekly macro pulses, boring, no immediate alfa, but if you actually keep track every week, it gives you a strong sentiment of where the markets are heading. or so i have gathered this from comments.

pls keep following and reading, i have put lots of effort in there to curate the macro insights, but if you dont read thats fine, i learn along while i am writing too

a plus for myself

so nothing beats what you love yourself for and what others love to hear more about your thoughts.

i dont care, i'll still do me and continuing be myself

haters say hi, lovers get a hug 🤗

https://x.com/arndxt_xo/status/1998095080318779704

liquidity setups adn parallel moves

we are underestimating the power of users/distribution as a moat.

@Weixin_WeChat is the best example of a superapp in web2

then web3 wallets will be the financial superapps for web2 users in web3

note that actual web3 users probably doesnt care about super apps but would appreciate it because we long degeneracy

i think @phantom here is leading by example, laggard wallets like @Rabby_io @MetaMask is catching on.

for those with distribution strength such as new upcoming wallets and neobanks can easily pivot into this category soon @ether_fi @rainbowdotme @useTria @aave @LidoFinance

productizing your users becauase everyone is building a wallet and/or neobank as they soon start to realize that distribution is the most powerful moat.

and in fact many other hardware/software wallets can easily take that lead as well such as @iSafePal @OneKeyHQ @Trezor @Ledger

https://x.com/arndxt_xo/status/1998241025488216459

stablecoins is the beautiful (lie)

they are crypto's only real product and proof we've failed and then succeeded at everything we promised.

we keep building better pipes

we believed, we create new money, free from state control. however, the truth is we've built better plumbing for moving their money.

anything useful at scale gets regulated. stablecoins are becoming too systematically important to stay in the dark. we'll get licensed, compliant, boring and so the cypherpunk dream dies but the infrastructure wins.

i've made peace with it.

we set out to replace central banks. we ended up replacing correspondent banking.

its a smaller revolution, but it's real.

be honest and stop pretending otherwise.

https://x.com/arndxt_xo/status/1998337121976017133

rekt got me thinking deeper about how we moralize work itself.

we've inherited this calvinist impulse to justify our labor through transcendent purpose, but most human work throughout history has been neither noble nor ignoble, just necessary.

real estate and medicine contain their corruptions, but the real insight is that all economic coordination involves trade-offs between efficiency and exploitation, innovation and extraction. crypto's transparency about these dynamics is perhaps its most honest feature, not its worst.

we're comparing crypto not to actual alternatives (corporate monotony, rent-seeking industries, bureaucratic stagnation) but to idealized versions of "meaningful work" that exist more in our imagination than reality. even the noble examples, hospice care, political resistance, are available to vanishingly few and often psychologically unsustainable.

but here's the core. value in work stems from three sources: immediate human impact, contribution to improvement, and personal development. crypto skeptics fixate on the first while dismissing the latter two. building infrastructure for financial sovereignty, experimenting with coordination mechanisms, developing technical expertise, these aren't nothing.

the current existential despair is real but misattributed. it's not that crypto is uniquely hollow, it's that we're collectively grappling with the gap between technological possibility and human flourishing. crypto happens to crystallize this tension rather than resolve it.

the strongest defense isn't that crypto is maximally noble, but that it's legitimately useful in a world of imperfect options. sometimes the right question isn't "Is this the highest calling?" but "Does this move things forward?"

progress compounds even when purpose remains elusive.

https://x.com/arndxt_xo/status/1998697760196014588?s=46&t=hr2fbvcHJGpvp_SbDstdzg

IRS in crypto will be first and best use case to onboarding institutions and their billions

It’s Boros

https://x.com/neoo_nav/status/1998328625972891909?s=46&t=hr2fbvcHJGpvp_SbDstdzg

i've been analyzing the yield infrastructure space and Solid's positioning is interesting.

while 60% of crypto holders earn 0% on stables, $1B+ has already flowed to yield-bearing stablecoin holders.

banks at 0.5%, top defi at 8-14%.

@SolidYield thesis: aggregate @Morpho / @pendle_fi yields + visa rails + non-custodial UX.

no gas, no bridging, passkey auth.

essentially @Revolut UX with DeFi backend.

points program live with 5× early multiplier.

standard airdrop farming playbook but the product actually ships.

worth monitoring if you're yield-positioned.

here is a table of comparison across @Revolut @yield @KASTxyz @ether_fi 👇

https://x.com/arndxt_xo/status/1998763936485880014