Ignas DeFi — DeFi 研究

Polymarket's referral program is a tough one: 30% of fees generated as rewards is juicy...I want to shill it but most of my followers already use Polymarket.The real dilemma is the airdrop.Referral programs are easy to promote when you're confident they lead to an airdrop. This was my entire meta in 2023/24.But Polymarket could go the equity route.If that happens, users who traded and paid fees ge...

Anyone holding TRX? If, yes congratz. You are outperforming the market.But how come Tron is winning? A short blog posthttps://x.com/DefiIgnas/status/2035006647521677574

Two protocols generate 69% of all crypto holder revenue.The rest of the “investible” market is embarrassingly small.I put together a list of 132 tokens across 12 narratives that might survive the bear market.Read it here:https://www.ignasdefi.com/p/the-investible-crypto-tokens

I'm not trading right now. Here's what I'm doing instead:• AI vibe-exploring crypto via APIs• Checking out MegaETH ecosystem• Following & researching ICOs. Not necessarily investing!• Reading blogs instead of doom scroll on X.https://x.com/DefiIgnas/status/2020441832443011307

Current State of the Market & What's Next #8• Developers are leaving🙁• Token launches... suck🙁• Layoffs increasing🙁• User activity? Increasing :)))And an airdrop shill!Read it here:https://www.ignasdefi.com/p/current-state-of-the-market-and-whats-bb3

Crypto Truths & Lies for the Year 2026:Instead of predictions, I share my truths and lies to spot the next big crypto trends.Read it here:https://www.ignasdefi.com/p/crypto-truths-and-lies-for-the-year-647

Nansen's wallet addition is a smart move:- Track 'smart money' and trade directly within the platform.- Monitor portfolio performanceIt may seem like a small add-on, but similar to Farcaster's pivot from social media to a wallet-first approach, this makes Nansen a big competitor to Axiom and other trading terminals.Many underestimate Nansen as just a 'data platform,' but it's much more.I wouldn't ...

Who Owns 'Aave': Aave Labs vs Aave DAOThe recent Aave drama explained.https://x.com/DefiIgnas/status/1999728596626342177

Airdrop shill:Prediction markets is top sector but many are sleeping on an obvious airdrop play.Connect the dots:- Coinbase → Kalshi (KYCed, regulated & rumors of Coinbase integrating Kalshi)- Hyperliquid → Polymarket (Open, global, decentralized)- Aster → ....?Like CZ/Binance pushed Aster to answer Hyperliquid, they are now backing their own prediction market.It's Opinion.Same backers as Aster (B...

Seeing full capitulation on alts across CT and in my DMs.People skipped BTC early in the cycle expecting the old playbook to repeat.But new money didn’t touch the old, boring tokens. First, we got rekt on low-float, high-FDV tokens.Then on memecoins.DAT trades weren’t any better.Retail expected Saylor 2.0 companies, but instead we became exit liquidity for insiders.But as all looks lost, the altco...

Perp DEXs are at the top of my airdrop opportunities right now.Hyperliquid, Lighter, and now Variational are my top picks.The best part? We are early:- It’s pre-points season-50% of supply goes to airdrop- Raised $10.3M in seed funding in 2024 by Bain Capital Crypto, Coinbase Ventures, Dragonfly Capital etc.-TVL at $68m with 16k active addresses- Zero trading feesThe app is in private beta. You’ll...

The Great Rotation: BTC won.Where does it leave ETH, SOL and Alts?Following the retail, whale, and institutional flows.Read it here:https://www.ignasdefi.com/p/the-great-rotation-btc-won-what-happens

Lending market tokenomics shows how far DeFi has matured.5 out of 10 top lending protocols now share revenue with holders:• Aave: Snapshot vote passed to enshrine $50M/yr in buybacks• Maple: 20–25% of revenue buys back and rewards stSYRUP stakers• Fluid: Began buybacks Oct 6 after $10M annual revenue, already 0.36% of supply bought back• Venus: 20% of revenue buys back $XVS and 25% of BNB Chain re...

Must read explanation why BTC lags gold and equities in a risk-on environment.It's no surprise that clarity comes from a TradFi guy, while CT is lost: What's happening to BTC HAS NEVER happened in crypto but happens often in TradFi world: the winning. An IPO moment.Early BTC believers are realizing gains after Bitcoin won.They mined, held through FUD, and now finally have exit liquidity without cr...

$ETH potential to pump is capped by its failure to be a store of value.To buy and hold $ETH now you need to believe in its ability to become a store of value asset.Yes, $ETH can run to 10k with no fundamental change, but the current narrative of tokenization and RWAs is not enough to push it much higher without the SoV premium.This narrative can even backfire as new chains ALREADY compete for RWAs...

The Changing Crypto OrderIn my new blog post I cover:• ETFs and the Great Rotation• Why not all tokens pump anymore• Stablecoins, DATs and RWAs• The end of 4-year cycle?Read it here:https://www.ignasdefi.com/p/the-changing-crypto-order

$BASE would likely trade $3.9B - $7.3B FDV if valued at $ARB, $OP or $LINEA FDV/TVL multiples.That puts it far below $AVAX (~$14B), Hedera (~$12B), BCH (~$11B), $IP, $ENA, $UNI and others.Even with Base posting the highest L2 chain revenue ($5M last month vs $1.6M for Arbitrum), it’s not enough to command a big premium.If Base was an L1, valuation would be way higher. But they’ve been clear: Ether...

Native Markets wins the USDH ticker.- 50% of yield goes to HYPE buybacks.- 50% goes to ecosystem growth.That second half is basically a new HL airdrop farm. Who decides the 'growth' rules? Drop the token.This farm could be the catalyst for USDH adoption. Migrate from USDC or USDT into USDH and you’ll likely earn points.It also pushes HyperEVM DeFi since USDH will count for the airdrop.Feels like a...

Who will win the USDH ticker on Hyperliquid?Feels it's a fight between the corporate side of crypto vs DeFi native solutions.Main players:Native Markets• Hyperliquid-first, issued directly via HyperEVM (then bridged to Core)• Reserves with BlackRock and Superstate via Bridge• Regulatory cover in US, EU, BVI• Yield split: 50% to Assistance Fund, 50% to USDH growth• Notable team: ex-Uniswap COO, ex-...

Lighter is now the #2 perp DEX by trading volume, right after Hyperliquid.Why? Two key reasons:First, Lighter is an Ethereum zk-rollup, purpose built for perps.The pitch: Don’t trust, verify.Every order match and liquidation comes with a zk-SNARK proof you can check onchain.This matters because most orderbook DEXs ask you to trust the engine.With Lighter, price time priority is enforced cryptograp...