yyy

Trump has only done a little something on top of the existing situation rather than helping in a time of need.

To bring Hyperliquid into the US market.

iykyk.

#Hyperliquid $HYPE

2 ghost stories:

@Ostium The protocol’s vault was stolen $23.75 million incident has been 2 months ago, and the team is still pretending to be dead;

@Neutrl Due to insufficient reserves, the protocol proactively intervened to freeze the market value of the NUSD event reached $53.3 million has been 1 month ago, and the team is also pretending to be dead.

And neither of them is some random backwater protocol—they both have reputable institutional groups organizing the deals: one raised $23.5 million, and one raised $5 million.

#Rugpull

Real buybacks and real token burns are the answer to this cycle’s protocol token agreement.

I’ve seen plenty of real buybacks and real burns. This post is here to talk about real buybacks, fake burns, and fake buybacks.

Among the representative cases of real buybacks but fake burns is @chainlink:

The oracle-industry leader Chainlink will use part of the protocol’s revenue to buy back $LINK on the secondary market, with a frequency of once per week. However, the repurchased tokens are not burned; instead, they are deposited into the Chainlink Reserve as a strategic reserve;

The official statement says that the funds in Chainlink Reserve are held long-term as reserves, which effectively reduces short-term circulating supply—but it also plants a potential time bomb for later.

As for the representative case of fake buybacks and fake burns, that would have to be @arbitrum:

Arbitrum’s cumulative revenue is $7.73 million. Within just a little over 2 months, Robinhood Chain contributed $3.35 million to Arbitrum’s treasury; Arbitrum’s official team and its founders have also repeatedly boasted about revenue splits coming from RH Chain. Look at how full our treasury is—how capable we are. You know what we’re going to do next.

Up to now, Arbitrum has used treasury funds to buy back 0 $ARB tokens.

At least Chainlink put on a show: it bought $LINK into its own vault. Arbitrum didn’t even dare to buy back $ARB , which shows they have no confidence in their own token.

#arbitrum $ARB

A single image tells you how early Robinhood Chain is right now.

This crypto media editor probably isn’t bad—just plain stupid.

If they’d actually played on this chain, they wouldn’t write something this clueless.

#robinhoodchain

Holders Revenue 24h: $907, 926

top 1

iykyk

#pons $PONS

It’s not that it knows it made a mistake—it’s that it knows if it doesn’t correct itself, its competitors will wipe it out. — The most authentic portrayal from @Pumpfun.

Over the past few days, @LaunchOnSF has been relentlessly “face-to-face” attacking. The Pump team has simply been unable to take it anymore and had to passively “copy the assignment”: the Cashback mechanism for offlining-reward-based volume has been replaced by Holder Rewards, a holder reward mechanism.

The revenue from fees on the Pump protocol side is unaffected. It’s just that the creator fee that was originally used to incentivize volume is entirely redirected to reward token holders. But in order to encourage volume and maximize protocol fee revenue, for the past half year Pump has chosen to ignore the widely supported demands of reward holders.

Ironically, when the competitor Stonk did the same thing, the people on the Pump team seemed as if they had suddenly cleared their “Ren and Du meridians” and quickly followed suit.

#pumpfun $PUMP

Sorry, we failed.

After the CLS vault was stolen under the agreement two months ago, @cascade_xyz posted to officially announce the end of operations.

Cascade’s predecessor, @perenniallabs, raised $12 million in a seed round at the time, but it was declared a failure without even issuing a token;

After the shell was swapped, Cascade announced that it had completed a $15 million seed round arranged by the same group of institutions—only to find that the final outcome was surprisingly similar.

And now, the people we’re most sorry for are those family members who participated in the prepaid deposit points campaign.

#Rugpull

It seems Toly still can’t let it go that back then Robinhood didn’t choose to build dapps on Solana, but instead decided to build their own chain. He’s about to get obsessed.

If back then Robinhood had chosen Solana, the ceiling at best would be today’s Backpack.

And now, the RH Chain is an extremely threatening player—enough to make Solana take it seriously.

#solana

To be fair, Solana co-founder Toly should count as one of the most dedicated founders in crypto.

A few months ago, he was fudding Hyperliquid with his left hand while fudding Lighter with his right hand—two-pronged approach;

This month, he fudged Aribtrum first, then fudged Robinhood right after, capitalizing on the momentum.

The result pushed HYPE and LIT to new highs on the fud front too—this time, I wonder if it’ll be different.

#Arbitrum $HYPE

Robinhood Chain: Yesterday’s on-chain revenue hit a new phase low, at only $840,000.

The odd thing is that:

Total on-chain TVL reached a historical high of $920 million;
The on-chain stablecoin market value reached a new high of $1.037 billion;
DEX trading volume hit a phase high of $2.557 billion;
Even the network’s actual load has started to stop falling and rebound, returning above 30 million gas/s—while @base’s actual liabilities in the same period were only 21 million gas/s.

I guess you smart people already know where the problem lies.

#Robinhood

Net’s success made all ohm forks mistakenly believe they are the next Net, just as Pons’s success made all pons forks mistakenly believe they are the next Pons.

$PONS

How glorious it once was, being hoisted by Circle; how desolate it is now, being abandoned by Circle.

@circle officially announced that it will soon stop supporting the newly minted USDC on the Noble chain, and will fully suspend the CCTP cross-chain channels next January.

@noble_xyz this helpless relic of a once-great champion has ultimately become Circle’s discarded pawn.

As the most popular stablecoin application chain back then, such a fate is truly heartbreaking.

#Circle

From the consumption of Ethereum blobs, we can infer that Robinhood Chain’s on-chain activity has not cooled down.

Ethereum blob consumption has hit a new high, indicating that activity across the Ethereum L2 ecosystem is surging; as the leading consumer of blobs, RH Chain’s blob market share has been rising rather than falling in recent days, which also suggests that the growing activity on RH Chain’s on-chain transactions is increasing demand for block space on Ethereum.

So why has RH Chain’s chain fees/chain revenue dropped significantly?

We can only say that Robinhood’s official adjustment to the gas target parameter has produced an immediate effect.

#Robinhood $ETH

tradexyz finally made it official.

The absolute leader of HIP-3, trade[XYZ], first officially announced on X the launch of prediction market Events. It has become the third-largest HIP-4 deployer after @Outcomexyz and @SkewTrade.

Actually, as early as September 5 a few days ago, trade[XYZ] was already detected on-chain as having completed the activation of a HIP-4 deployer. Some markets had already opened for trading, but the product was only officially released to the public today.

Grow the prediction market pie. Good news $HYPE

#Hyperliquid

A major misconception is that the sharp decline in Robinhood’s chain fees/chain revenue is equivalent to the chain going “out.”

As we discussed earlier, the most fundamental reason why gas fees on the Robinhood Chain are so expensive is that the network’s actual load stays above the gas target for a long time, causing gas backlog. The worse the backlog gets, the higher the congestion fee becomes.

I previously thought that Robinhood was unwilling to raise the gas target parameter in order to achieve higher chain revenue, but that is not the case. Information provided by the professional data analysis team @EntropyAdvisors, which is closely associated with the Arbitrum DAO, shows that:

RH Chain’s official side increased the gas target indicator twice. On September 1, it was adjusted from 18 million gas/s to 30 million gas/s, and on September 3, it was further increased from 30 million to 40 million.

It’s possible that the gas backlog had already been cleared as early as the past few days. As on-chain users no longer need to pay such a costly congestion fee, RH Chain’s chain fees/chain revenue naturally fell sharply.

At present, the actual network load on RH Chain is basically on par with @base. Given the fee crash, I’d rather interpret it as a positive development.

#Robinhood

Pons’s app revenue is becoming stable, with daily income staying above $1 million.

Price drops for $PONS will only accelerate the burn rate, consuming more coins per unit of time.

It’s a simple math problem.

#Robinhood $PONS

There are no signs at all that the fundamentals of the Robinhood Chain are going bad:

On-chain TVL remains stable at around $900 million
On-chain stablecoin market cap has broken above $1 billion and continued to hit new all-time highs
DEX trading volume hit $1.8 billion yesterday, also a phase high
Ap Revenue stays at about $3 million, a high level, with Pons contributing nearly half

Meanwhile,
Chain Fees—the metric representing the cost for users to use the chain—has been steadily declining.

#Robinhood

There should be no opportunity higher in certainty than holding PONS on the Robinhood Chain.

@ponsdotfamily has entered the top protocols by buyback strength for the past 24 hours, ranking second only to Hyperliquid.

As of now, 30.06% of the total supply—$PONS tokens—has been permanently burned.

#Robinhood $PONS

The most outstanding formula for token empowerment:

Revenue = Holders Revenue

HYPE’s value is still rising
UNI’s value is still rising
PONS’s value is still rising

$HYPE $UNI $PONS

Strategic abandonment of Robinhood Chain: a non-strong buyback burn-and-deflation dashboard, and a fake buyback propaganda board for buybacks not yet initiated.

#Robinhood