ethereum:0x0f2d719407fdbeff09d87557abb7232601fd9f29 number 2 in 7 day on-chain options volume, liquidity scaling to facilitate more trades. Hypercall hedging wallet reached 15%!!! Of hyperliquid:native's S&P500 perp by @tradexyz - if Hypercall wins Hyperliquid wins even more since all options hedging flow goes through their perps. Up!

I'm bullish on the on-chain options space as a whole. Options have massive product market fit on the retail side, as evidenced by it being Robinhood's biggest trading revenue line, and on the institutional side based on how much global volume they do. It's also the biggest tradfi market that hasn't really seen material growth on-chain. In crypto, perps have dominated because they're simple to understand and it's easy to build up liquidity on a trading pair. But perps are path dependent. You can be right about where something ends up and still get liquidated on the way there. Oct 10 was a good example of that, and I think it's made people a lot more interested in options, where you know your max loss going in. On-chain options have been attempted before, but the models were subpar. We're now seeing teams build models that mirror centralized designs, which lets market makers provide liquidity on par with or better than Deribit. On-chain options also now benefit from perps liquidity, which makes it possible to offer RWA markets in a way that wasn't possible before. This is one of the reasons I particularly like $SYN. Aside from being incredibly bullish on its founder @trajan0x, I think the product itself is very compelling. Hypercall is built on top of Hyperliquid, so market makers can hedge there and use those same positions as margin. That means Hypercall can list options on anything with a Hyperliquid perp, whether that's majors, alts or the tokenized equities on TradeXYZ. You can already trade same-day and daily SpaceX options there, which you can't do on a traditional exchange, and the same will be true for pre-IPO names once Hyperliquid lists them. Anyone with a wallet can use it, it's USDC margined and it trades 24/7. I think the token side of things is also very compelling. • No equity entity, so all cash flows are governed by SYN • No VCs and no unlocks, with 88% of supply circulating • Builder codes for frontend revenue share With the governance structure in mind, I'm including a proposal below to kick off value accrual for the token. It has three parts. 1) 70% of protocol fees go toward buying SYN on the open market on Hyperliquid. The SYN that gets bought is distributed to SYN stakers. 2) 30% of fees go to SLP, the USDC vault that provides market making liquidity on Hypercall. Rewards are time weighted so people can't deposit right before a distribution and farm it. 3) Traders who stake SYN get fee discounts from 5% up to 40%, similar to how Hyperliquid does its staking tiers. There's a 24 hour activation period and a 7 day unstaking cooldown. The SYN thresholds for each tier still need to be ratified by the DAO. The split applies to fees actually collected, after discounts and builder/referral shares, and there are no new emissions. The proposal is pending a DAO vote. snapshot.org/#/s:synapse-gov…

Z - The Agent Interaction Layer nitter.net/i/broadcasts/1wxWjaOMD…

NEW: Claude-powered coding agent reportedly deleted a company’s production database, and backups, in 9 seconds.

DROPS E35: @Coredao_org - Bitcoin yield without giving up your Bitcoin @richrines is one of the initial contributors to Core DAO, the leading Bitcoin scaling solution. He's also a long-time Zcash holder and early backer of @_zprotocol , a new privacy chain built on Core's Satoshi Plus consensus. We talk Bitcoin yield, financial privacy, AI surveillance, and why the next big move in crypto might not be where most people are looking. We talk about: - How Core DAO lets you earn yield on Bitcoin by time-locking it - without ever giving up custody - Why borrowing against Bitcoin makes sense now - OG Bitcoiners rotating to Zcash - what "transition" actually means and whether it's bad for Bitcoin - Z Protocol as the DeFi layer for private money - Why AI has made financial surveillance trivial - and why that accelerates privacy adoption - How Agents are leaving full financial fingerprints - and why privacy needs to be default on at the chain level And much more... Timestamps: 0:00 - Introduction 2:05 - What does Rich Rines do? 3:00 - Financial Freedom 4:09 - Journey from Bitcoin to Zcash 6:40 - Zcash Philosophy 8:38 - Transition to Zcash 11:20 - Who is Rich Rines? 11:46 - Bitcoin as Pristine Collateral 14:28 - Criticisms of Borrowing Strategy 16:52 - Explaining CORE 18:58 - Bitcoin Yield Story 20:29 - Misconception regarding CORE 22:08 - Time Lock 23:34 - Risk of using CORE 24:37 - Strategies used by CORE 26:42 - What Bitcoin Holders Want? 28:46 - Bitcoin Yield 30:10 - CORE Alpha 32:44 - SatPay 34:19 - Power Grid Thesis 35:37 - Satoshi Plus 37:07 - What is Z? 38:12 - Benefits of long-term Zcash Holder 40:01 - Vertical Integration 43:12 - Privacy for Agents 44:41 - Faux Privacy 46:14 - Privacy vs Government 49:01 - Zcash’s Future 50:01 - Conclusion

Joe Rogan tells Theo Von to his face he’s “losing his f*cking marbles” during the latest episode of the podcast. Rogan then urged him to get off antidepressants after Von went on a bizarre rant. VON: “It’s all just a cat and mouse game.” “People are like, ‘we’ll elect the Democrats next time.’ But it’s all...the same sh*t has been happening forever.” “They haven’t been helping anybody forever.” “They’re letting f*cking politicians slurp on kids!” “All of our f*cking money goes to Israel and they’re using it to f*cking genocide people!” “It’s like, everybody is scared out of their wits right now. It’s like, our religious leaders are afraid to speak out.” “It’s like...the...it’s a time where it’s like...satan is amongst us and our religious leaders are talking about bullsh*t at the polls!” “It’s just like, what is going...I don’t know man.” ROGAN: “We gotta get you off those antidepressants, son.” “You’re losing your f*cking marbles!” VON: “You think I am?” ROGAN: “Come hang out with us. Just chill out!”

Super excited to be leading @_zprotocol. Grateful for my time at @Coredao_Org and everything I learned building alongside that team. Z is solving the two biggest problems in crypto: Scaling privacy and agentic use-cases. Z is the clearest expression of the Crypto x AI thesis. Thank you to my friends at Core Foundation for the support in bringing this to life.

🚨 Here is the full 42 minutes of my crew and I exposing Minnesota fraud, this might be my most important work yet. We uncovered over $110,000,000 in ONE day. Like it and share it around like wildfire! Its time to hold these corrupt politicians and fraudsters accountable We ALL work way too hard and pay too much in taxes for this to be happening, the fraud must be stopped.