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mikey-1
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there are two ways to control toxic
flow
1. ban their access (casinos, sportsbooks)
2. offload the
flow
to an outside party (exchanges)
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mikey-1
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crypto incentives in one sentence: points and tokens have unlimited upside, vouchers and dollars don't
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one reason to be bearish CEXs is that the avg project quality will go up in the future less teams will look for quick exit liq, and more teams will use efficient methods (HIP-1/3) to list tokens retail chases hype on CEXs, pros will find the good tokens wherever they are
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prediction market idea: decay curve for PnL % fee for takers in block 0, PnL % fee is 50%, at end of decay (e.g. 3 hrs), fee is 0% someone who made 10k in first minute pays 5k to makers makers can quote tighter early on, liq high early on, mrkt more efficient from block 0
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from a pure product/fundamentals perspective, i don't think anyone will get close to hyperliquid this cycle but... funny things happen in speculation-based markets i remember the Merit Circle / YGG flippening, SUSHI / UNI... in a hot market, some beta chasers will do well
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what's the biggest reason why there's no onchain poker at scale? web2 painpoints are obvious: all on centralized rails, friction around money flows, corruption etc seems like either: 1) builders are too theoretical wrt onchain = slow 2) bigger games to play (BJ, roulette)
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