Nomatic (@Nomaticcap) header
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Investor. Co-host of @edge_pod

Joined January 2021
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Nomatic retweeted
Today marks the second time in history the Nasdaq fell more than 5% and Bitcoin fell less than the Nasdaq. The other time was on March 16, 2020. Mar 16, 2020: QQQ -12.0%, BTC -10.6% Nov 5, 2026: QQQ -6.4%, BTC -5.3%
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The S&P has been higher 12 months after all 19 midterms since 1950. bitcoin:native was higher 12 months after each of the last three midterms, but its lows came weeks days after the vote. Recorded this yesterday, the day after the midterms, with @andyyy and @robbieklages from @therollupco joining us for a special post-election @edge_pod on what to expect in crypto. I think most of what we covered still stands but of course today was a punch in the gut. Anyways, hear why Andy's fully allocated (so are we) and stay tuned for the full pod shortly. 🙏 Check out our clip sponsor @AxisFDN, printing 15% APY for sUSDx holders the last 30 days.
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An AI audit found the worst kind of bug a zero-knowledge protocol can have. Zcash patched it before anyone knew. “I did a bunch of AI-driven audits of different parts of the Zcash code. Basically, every time a new model comes out, run a standard set of queries across the Zcash codebase.” “Opus 4 comes out from Anthropic, and then finds the worst… what is called, in the parlance of zero-knowledge, a soundness vulnerability.” “It’s a very benign-sounding term for basically the worst possible vulnerability you could have in a zero-knowledge proof protocol, which is you can forge a proof, and therefore you can create money from nothing.” “So it got patched fairly quietly, and then after it was patched, Zooko wrote a blog post… this is what this vulnerability meant and how bad it could have been.” ft. @zmanian, @sudo_ml, @DeFi_Dad & @Nomaticcap
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He moved ~$300k into Uniswap pools on Robinhood Chain the week tokenized stocks launched. Two weeks later: ~$75–80k in fees. “I love Uniswap LP. That’s where I make a lot of my money. And I was like, okay, is there any stock on Uniswap right now? And it just launched. I think it was the first week or even the first day.” “We moved a lot of our capital into Uniswap, providing liquidity to NVIDIA and Tesla and S&P 500, all of the tokens that we could see some volume on. We opened pools at, like, 3, 4, 5%, because we’re the first one.” “We knew it was, like, 1, 2 weeks. We moved something close to 300k. We did something about 75 or 80k in, like, 2 weeks.” “When we created the pool at 3%, some people came and said, well, why 3? If I put 1, I’ll be more capital efficient. And slowly over time we saw our return going down really quickly, which was expected. And so we removed all of that from Uniswap.” ft. @mbaril010 of @OctavFi, @DeFi_Dad & @Nomaticcap
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Too much whining on this app Stop being a bitch, grab your balls, and go long
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Mathieu Baril narrates how Uniswap earned him $80k in 2 weeks: "I love Uniswap LP, that's where I make a lot of my money. I was like, 'Okay, well, is there any stock on Uniswap right now?' It just launched, I think it was the first week, probably the first day." "So we moved a lot of our capital into Uniswap and provided liquidity to Nvidia, Tesla, and S&P 500, all of the tokens that we could see some volume on. We were able to see volume from Realto, but nothing on Uniswap. So we opened on Uniswap pools at like 3%, 4%, 5% because we were the first ones." "We knew it would not last for 4 or 6 months... we knew it was like 1 or 2 weeks. With about $300k capital moved there, we did something like $75k or $80k in like 2 weeks. It was kind of insane." "The beauty of AMM and MEV bots is that people trading on Realto want to balance what's happening on the Uniswap pool, so they always arb everything. Because the price is moving, they pass through your pool and pay your 3–4% fee."
CoFounder of Octav Labs, Mathieu Baril, explains how tokenized stocks allows normal everyday users to copy the borrowing strategies of billionaires like Elon Musk, allowing all to leverage assets on-chain: "We know that a lot of rich people like Elon Musk borrow against their assets, they borrow against their stock in Tesla. We were never able to do that as a retail person. Now with tokenized stock, you can actually do that." "If you take that tokenization of stock, capital efficiency, plus now having real traditional market tooling like TradFi or options coming to DeFi and you merge that, you get the best of both worlds." "Now you have the tools that TradFi can do, but you also can do it at small size or compound everything as DeFi composability gives you the ability to do. That's opening a lot of capital efficiency, and all the TradFi guys are like, 'Okay, we have the tooling, but now we have the infrastructure on-chain, so let's move on-chain.'"
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CoFounder of Octav Labs, Mathieu Baril, explains how tokenized stocks allows normal everyday users to copy the borrowing strategies of billionaires like Elon Musk, allowing all to leverage assets on-chain: "We know that a lot of rich people like Elon Musk borrow against their assets, they borrow against their stock in Tesla. We were never able to do that as a retail person. Now with tokenized stock, you can actually do that." "If you take that tokenization of stock, capital efficiency, plus now having real traditional market tooling like TradFi or options coming to DeFi and you merge that, you get the best of both worlds." "Now you have the tools that TradFi can do, but you also can do it at small size or compound everything as DeFi composability gives you the ability to do. That's opening a lot of capital efficiency, and all the TradFi guys are like, 'Okay, we have the tooling, but now we have the infrastructure on-chain, so let's move on-chain.'"
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In the first few weeks of Robinhood Chain's launch, @mbaril010's team put $300K into Uniswap LPs for tokenized stocks charging 3-5% swap fees. They earned ~$80k in two weeks, or ~700% APR. Meet a true DeFi OG still in the trenches, testing DeFi in prod and earning onchain.
🎙️ New @Edge_Pod 💡 Octav Founder Shares His DeFi Playbook: Options, Uniswap LPs, and Tokenized Stocks 0:00 - Intro 2:11 - From BTC mining to DeFi Summer 6:34 - How Octav offers early signal 8:53 - What new DeFi is most exciting? 16:41 - Huge LP returns on RHC 20:57 - Robinhood using USDG 22:32 - Hedging Uniswap LPs with options 27:02 - Why he moved from Base to RHC 28:13 - HL, Kinetiq, and why Elysium 32:19 - Ideas for managing longs next year 40:23 - Are crypto FDV multiples out of line? 42:22 - Why ETH is a SoV, plus top 3 liquid bags 46:46 - Shopping list: VVV, DIME 48:36 - DIME/Paradex bull thesis 52:38 - What is @tacticallsXYZ? 57:06 - Tacticalls demo, FOMO for options 1:03:13 - Octav demo, tracking any wallet 1:11:00 - Closing 🙏 Thanks to @OctavFi Labs CoFounder and CEO @mbaril010 for joining us!
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"I think the best way for me to sell a token is actually providing liquidity." @mbaril010 explains how he uses a Uniswap LP to collect fees, and gradually sell into profits. It's a strategy I like if you understand the risk of buying in a downtrend or selling in an uptrend.
🎙️ New @Edge_Pod 💡 Octav Founder Shares His DeFi Playbook: Options, Uniswap LPs, and Tokenized Stocks 0:00 - Intro 2:11 - From BTC mining to DeFi Summer 6:34 - How Octav offers early signal 8:53 - What new DeFi is most exciting? 16:41 - Huge LP returns on RHC 20:57 - Robinhood using USDG 22:32 - Hedging Uniswap LPs with options 27:02 - Why he moved from Base to RHC 28:13 - HL, Kinetiq, and why Elysium 32:19 - Ideas for managing longs next year 40:23 - Are crypto FDV multiples out of line? 42:22 - Why ETH is a SoV, plus top 3 liquid bags 46:46 - Shopping list: VVV, DIME 48:36 - DIME/Paradex bull thesis 52:38 - What is @tacticallsXYZ? 57:06 - Tacticalls demo, FOMO for options 1:03:13 - Octav demo, tracking any wallet 1:11:00 - Closing 🙏 Thanks to @OctavFi Labs CoFounder and CEO @mbaril010 for joining us!
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ZCash $ZEC has been one of the biggest W's in crypto over the last two years... From a cycle low of $16.08 on July 5th, 2024... It has done a 77x to today's price of $1,239.78... And has massively outperformed $BTC and $ETH on every timeline imaginable during that span... But what is the backstory on it? And how much higher could it go??? - @Nomaticcap and @DeFi_Dad discuss this question with @zmanian and @sudo_ml
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Nomatic retweeted
Quantum computing poses a serious threat to the cryptography blockchains currently rely on, while advances in AI compress best estimates for the threat's timeline. That's why experts gathered in Cambridge to coordinate research upgrading our cryptography to be quantum-resistant.
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Crypto + Macro Stuff I'm Looking At Today ... - Binance hack (by DPRK) dominating headlines today - Tech stonks down bigly and existential angst over layoffs, economy, AI, etc all over the TL - Intel $INTC down 30% today - $COIN beats earnings for first time in 4 quarters but still down 15% - The SEO-apocalypse that has destroyed tens of thousands of once profitable websites and online businesses has finally reached the furthest heights of the online economy, with Reddit $RDDT down 42%, with co-founder and CEO Steve Huffman stating on their earnings call that "People still want Reddit. It is just Google is not sending them to Reddit the way they used to." - Total crypto market cap down to $2.69T (38.9% below ATH's) - $QQQ down to $685 (10% below recent ATH's) - Oil at $103.90 - Silver falls below $50/oz for first time in almost a year - Multifamily real estate (ie apartments) increasingly looking like its sliding into crisis territory - MEV bots apparently killed it over the last 24 hours, with TitanBuilder making $24.7M (h/t 0xngmi) - CZ and Elon battle on the TL - Jupiter has launched a new bridge aggregator - Tragic crypto home invasion in France where a clerical error made a man's 0.66 $BTC look like 660 $BTC on his taxes, criminals invade home, assault family as a result (whole thing is sickening beyond estimation - need to write about this topic soon) - Despite all the carnage lots of defi teams still doing well... $AERO been stacking W's... $ENA looking good... etc... - About start using/LP'ing/etc on MetricXYZ, first new opportunity I've really been excited about since pre 10/10 as far as airdrops go - Still accumulating as much $FXN as humanly possible and still geeking out hard on $TRUEO and $WALLET and some others - Just sold a bit of my $QQQ and replaced with $TQQQ to add leverage - Kamino now allowing borrowing against Backpack-tokenized stonks on Solana - Polymarket suffered a small hack/exploit yesterday as well - $UNI launches aggregator hooks - PredictFun announces $PREDICT token + airdrop - Top gainers among top 300 coins over last 24 hours include $BEAM at +33.0%, $Q at +16.1%, $HASH at +14.6%, $CAP at +5.7%, and $SOSO at +5.3%, - Stanley Druckenmiller makes first ever Twitter/X post, on Hyperliquid and TradeXYZ - Will Manidis mega-essay (145 pages apparently) 'The Commanding Heights' is generating a lot of discussion on here... is exceptionally well-written and worth a look for sure... - Also the Venkatesh Rao essay from a couple days ago 'Cognitive Mercantilism' was extremely good as well - US election coming on Tuesday, polls suggesting Democrats to do quite well, but some are skeptical of polling accuracy, we will see... Conclusion Is really a wild time lads... Feel like this is the first point at which existential fears over AI and the future have really completely permeated the online discourse... And for good reason too I think... I definitely have immense empathy for the tech worker with a family and high fixed monthly expenses who is in the middle of losing his job... Is gonna be bleak for a lot of people... With that said I remain an eternal optimist and think most of us here in this corner of the internet will be net beneficiaries of all the changes coming... As I said yesterday, think the key is just staying lean, keeping expenses low, and maintaing an attitude of excitement + curiosity vis a vis all the massive innovations happening... So yeah, keep getting after it lads... Make your ancestors and descendents proud ILY LFG 💪
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Nomatic retweeted
$6B+ hack and none of it was in $BNB?
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I would love to have recorded something on the Binance hack today and the market reaction, but honestly who cares. It's gonna be the main topic on every other channel, and it will dominate headlines for weeks, but inevitably not much changed overnight. We're still here. I think the market likely bottomed too if a $6B hack can't shake us, which means we have precious time to position ourselves and capitalize on what's ahead. Study up on how to use powerful DeFi tools like @DeriveXYZ to compound returns for your major holdings. This convo is just that--deep in the trenches with a DeFi professional investor and builder (@mbaril010) on how he's been capitalizing on tokenized stock trading LPs with RHC, onchain options, and the recent launch of @tacticallsXYZ, a kind of FOMO app for options. Enjoy! 👊
🎙️ New @Edge_Pod 💡 Octav Founder Shares His DeFi Playbook: Options, Uniswap LPs, and Tokenized Stocks 0:00 - Intro 2:11 - From BTC mining to DeFi Summer 6:34 - How Octav offers early signal 8:53 - What new DeFi is most exciting? 16:41 - Huge LP returns on RHC 20:57 - Robinhood using USDG 22:32 - Hedging Uniswap LPs with options 27:02 - Why he moved from Base to RHC 28:13 - HL, Kinetiq, and why Elysium 32:19 - Ideas for managing longs next year 40:23 - Are crypto FDV multiples out of line? 42:22 - Why ETH is a SoV, plus top 3 liquid bags 46:46 - Shopping list: VVV, DIME 48:36 - DIME/Paradex bull thesis 52:38 - What is @tacticallsXYZ? 57:06 - Tacticalls demo, FOMO for options 1:03:13 - Octav demo, tracking any wallet 1:11:00 - Closing 🙏 Thanks to @OctavFi Labs CoFounder and CEO @mbaril010 for joining us!
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New @Edge_Pod! @mbaril010 tests every app integrated by @OctavFi, a customizable DeFi portfolio tracker and data provider. So what is he investing his money into? We dig into his DeFi playbook, from tokenized stock LPs to options, plus a demo of @tacticallsXYZ, "a newer FOMO app for options."
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[🌲] TETHER FREEZES $971M USDT IN LIKELY BINANCE HACK, WITH NO UPDATE FROM BINANCE STILL
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Nomatic retweeted
Replying to @elonmusk
Hi Elon, I would love to find a way to get our perpetual futures integrated into X. It would be a killer product.
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Nomatic retweeted
a few weeks ago i mentioned that the first phase of robinhood chain gave us a lot of "toys" and that the next one would take these experiments a step forward, making them more mature and elegantly designed believe we're about to see this now (@standard_rsv being a great example of this)
"imagine you take a stock token and make it programmable, like software, what can you do?" - vlad i discuss in the paper below what i believe is a genuinely new financial primitive that is now only possible because of stock tokenization i present, Isolated Exposure Tokens
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Strap in and consider this my official update on the kinetiq:native thesis, specifically regarding @Enter_Elysium. Best way to do this is to refute some arguments I've seen: 1. "L2's are parasitic" It's very lazy to compare Elysium to other L2s from the past. Robinhood Chain has generated a little over $50m in fees, of which $5m went to Arbitrum, and a whopping...$70k went to $ETH blob fees. HyperEVM hyperliquid:native fees are burnt, whereas sequencer fees on Elysium go to kinetiq:native buys and builders (more on this later), but HyperEVM fees only account less than 1% of Hyperliquid total revenue. Papertrade is actually much more directly parasitic to hyperliquid:native; HyperEVM fees are peanuts even if Elysium vamped them entirely. An under appreciated dynamic that a lot of people don't know is that HyperEVM USDC applies to AQAv2 hyperliquid:native revenue too, and USDC on Elysium will as well. Assuming the HyperEVM burns around $25k of hyperliquid:native a day, every additional $1b USDC that Elysium onboards in TVL would burn 4x that same amount due to AQAv2. For reference, Solana has ~$7.5bn USDC and Base has $5b. Robinhood chain is predominantly USDG, which they monetize on, and ETH obviously gets nothing from. Imagine if Base contributed to $175m (3.5% of $5b) of value accrual to $ETH via their USDC TVL...maybe my $5k/7k $ETH calls would actually hit then 🙃 Beyond this, the entire selling point of Elysium is that it sits adjacent to HyperCore. propAMM's are functionally impossible on HyperEVM now due to the 1s block time (amongst other reasons). Additionally, on the HyperEVM, you can only read Hypercore price, not order book depth. As a result, Solana does 25-50x the spot trading volume that Hypercore/HyperEVM handle. If Elysium can eat even a moderate chunk of on chain spot volume from Solana, especially in tokenized RWAs, the implications for corresponding hedging flows to Hyperliquid are enormous. Elysium explicity enables net new flow and TVL to Hyperliquid, both of which are very accretive to hyperliquid:native itself. I would not be surprised if Elysium directly contributes an additional low 9 figure ARR for hyperliquid:native in 2027. 2. "L2's are bad investments and down only tokens" As stated above, $ARB made about $5m so far from Robinhood Chain. Of that amount, a whopping...zero dollars made it to tokenholders. No buybacks, no burns, nothing. 50% of Elysium sequencer fees are directed at kinetiq:native buybacks. Even if you assume that Elysium only generates half the current sequencer fees of the current ghost town that is the HyperEVM, that'd still more than double their current revenue. Currently, kinetiq:native buybacks as a % of market cap are about 1.5%, compared to 4-5% for hyperliquid:native. If Elysium generates only half of the sequencer fees of the current HyperEVM ($5m/yr), they'd be retiring token off the market at the same rate that hyperliquid:native does relative to market cap. If Elysium can do closer to 50-75% of Base annualized sequencer fees ($30m), they'd be doing kinetiq:native buybacks at double the rate of hyperliquid:native as a % of market cap. This is completely negating a likely increase in kHYPE TVL and other revenue streams (which there are numerous), like from launchpads like @AscendLaunch. Ascend actually deserves their own section because they've commited to doing 30% of gross revenue as kinetiq:native buy/burns (50% to buys, 60% of that to burn). $PONS has generated $200m revenue in the last 2 months, but is currently only annualizing about $125m revenue, so we'll use a very conservative ~10% of the more conservative number. That'd add another $4m of kinetiq:native buybacks, which brings buyback yield/mcap well into the double digit %, over double hyperliquid:native. 3. "Why would there be activity on Elysium if there wasn't on the HyperEVM?" Probably because the HyperEVM operates at the speed of smoke signals and has 0 support from Hyperliquid. You have @Uniswap, @fomo, @Pumpfun etc all announcing integrations and deployments on Elysium day 1 after ignoring the HyperEVM all this time. @0xOmnia and the @Kinetiq_xyz team is putting on a master class in distribution, and you're seeing it play out this week. Jeff and company are focusing on building the best perps platform in the world, and that's great, but this hands off approach has come at the expense of any support or curation of an on chain ecosystem. That's left a massive gap that other chains have filled, but Elysium can bring all that activity back into the "house of all finance". Having a team that's fully dedicated to making this a reality will look nothing like the lack of attention the HyperEVM received. 4. "It'll be a flash in the pan memecoin chain and die out just like RHC activity has" This is more speculative and it's hard to say. Elysium could have an epic and unsustainable PvElysium memecoin season by inheriting some of the wealth effect from both hyperliquid:native and kinetiq:native. Obviously this would absolutely moon kinetiq:native from sequencer fees/Ascend revenue, but that's shortlived. Lively trenches aren't mutually exclusive with a real and innovative DeFi ecosystem though. As I mentioned before, Elysium will be uniquely able to plug in with, leverage, and read Hyperliquid orderbooks and liquidity. DeFi applications that couldn't be built anywhere else are made possible here. A performant general purpose blockchain adjacent to HyperCore is the natural home to propAMM and HFT arbitrage against HIP3, which incentivizes deeply liquid spot RWA markets, which enables much higher LTV lending, which enables unique structured products and DeFi primitives to be built. I do imagine that the trenches are built before more serious innovation comes about, but an important note here is that builders are getting 25% of sequencer fees as well. What builder wouldn't want to deploy on a new ecosystem, adjacent to the most successful app in crypto history, with a built in rev share agreement with the chain itself? Based on my conversations with Ascend and Montra, lots of serious teams want to build, not just memecoin deployers. TLDR: It's not that complicated guys. kinetiq:native is a $120m mcap token that has a very clear path to buyback % yields multiples higher than hyperliquid:native, with an unprecedented ecosystem flywheel. It's both beta to hyperliquid:native and enhances the hyperliquid:native bull case. It might be the most asymmetric bet in crypto right now, and it's not conditional on some long shot thesis, just that there will be a large on chain ecosystem for the most important app in crypto. Maybe it's a flop and a sell the news event on launch...or maybe it's all the best parts of Base/Hood sequencer fees combined with the revenue streams of $PUMP, $CAKE, solana:jtojtomepa8beP8AuQc6eXt5FriJwfFMwQx2v2f9mCL, ethereum:0x5a98fcbea516cf06857215779fd812ca3bef1b32 etc and heads towards billions of TVL and 9 figure annual revenue. If you pattern match too hard to "L2 bad" or "HyperEVM sucks", it's from a place of being too 🏳️‍🌈🐻-pilled and/or lazy research.
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KNTQ is now trading at 5% below its ATH. When we interviewed @koolkrypto223 in early September it was just above $0.20. @Enter_Elysium, their HyperEVM L2 launches Nov 9th. Here’s Kool's full bull thesis for kinetiq:native on The @Edge_Pod and one more reason to hit subscribe 🫡
🎙️ New @Edge_Pod 🐂 Kool Krypto: The Story Behind The Anon DeFi Investor & Trader | What He's Betting On This Cycle 0:00 - Intro 2:25 - From mining BTC at 13 to fund manager 5:25 - Early to ETHLend and DeFi 7:38 - The poker game that led to a fund 10:26 - Is TradFi “in the arena” with DeFi? 14:17 - Early to onchain perps like GMX, HL 20:13 - Liquid fund, yield gen, and a little VC 23:28 - Why Kool doesn’t trade memecoins 28:01 - The DRV bull thesis 41:14 - Kool’s winning BTC call spread 45:58 - Pros/cons of Derive’s RFQ trading 50:14 - AI agents, a tailwind for options 52:50 - His onchain options trading tools 56:29 - Pros/cons of options vs perps 1:02:37 - Managing risk and closing trades 1:05:35 - Why Opulent October makes sense 1:11:12 - His viral ETH call spread on Derive 1:17:38 - Bull thesis for KNTQ 1:25:07 - Derive V3’s ability to list new markets 1:28:31 - What if HL/Lighter launch options? 1:34:19 - Why Kool remains bullish on LIT 1:38:24 - Closing 🙏 Thanks to @koolkrypto223 for joining us!
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