head of data @DragonflyVC / host @indexed_pod / dunes @ dune.com/hildobby
- Tweets 7,192
- Following 2,416
- Followers 29,812
- Likes 24,128
hildobby retweeted
🚨NEW EP: Tempo's Big Bet: Better Payments beyond Stablecoin Transfers🚨
Today we're joined by @malleshpai Forward Deployed Researcher and Recovering Economist at @Tempo to dive into what it takes to build a blockchain specifically for payments.
We discuss:
*What is Tempo?
*Why payments need dedicated infrastructure
*Micropayments and agentic payments
*Stablecoins beyond simple transfers
*Enterprise payment use cases
*Supporting multiple stablecoins
*Predictable fees and payment rails
*Tempo’s transaction architecture
*Onchain payment data
*Stablecoin supply and activity
*Measuring payment networks
*Tempo’s design tradeoffs
*And much more—enjoy!
—
Timestamps:
(00:00) Introduction
(02:11) What is Tempo?
(06:07) Micropayments and new use cases
(15:02) Agentic payments
(16:50) Enterprise payment infrastructure
(29:53) Supporting multiple stablecoins
(32:17) Predictable transaction fees
(36:45) Diving into Tempo data
(47:57) Stablecoin activity
(50:18) Real-world payment patterns
(53:32) Beyond TVL metrics
(56:33) Tempo’s design tradeoffs
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hildobby retweeted
🚨NEW EPISODE: Who actually bets on prediction markets🚨
Today we're joined by @DaiZeshi, full node researcher at Surf AI, to dive deep into prediction markets and the data behind @Polymarket and @Kalshi.
We discuss:
Polymarket vs Kalshi
Crypto markets driving volume
Polymarket US growth
Prediction market turnover
Sports and crypto fee engines
Polymarket user growth and churn
Which markets onboard users?
Geopolitics and user retention
Cross-category user behaviour
Bots vs retail traders
Who actually makes money?
Prediction markets’ future
And much more—enjoy!
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Timestamps:
(00:00) Introduction
(00:44) James Dye and Surf AI
(03:19) Prediction market data
(06:07) Polymarket vs Kalshi
(10:23) Polymarket US growth
(12:20) Turnover and fee engines
(19:33) User growth and churn
(23:32) What onboards new users?
(27:39) Retention by market
(30:05) Cross-category user behaviour
(33:10) Bots vs retail traders
(43:20) Who actually makes money?
(46:10) Prediction markets’ future
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ethereum blobs hit record usage yesterday with 6.7 blobs/block on average
this week ethereum blob usage hit an all-time high: 3 day moving avg of 5.9 blobs/block & 6.7 daily avg!!
but the ambition to keep scaling requires funding to client teams, which is increasingly scarce
this is solvable - a $300b mcap chain should not have these problems
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Introducing @EthenaPay: the internet money neobank.
→Card spend cashback at 5.0%
→Best-in-class 6.0% dollar savings rate
→Borderless, free, instant global money transfers
→Free global onramps in USD, GBP, EUR and local FX
→Multi-currency high-rewards savings accounts in local FX
→Unified fiat IBAN integration with self-custodial stablecoin accounts
→Buy Now Pay Never where your savings rewards covers daily expenses
Not coming soon™️. Live now to download on iOS.
Introducing Ethena Pay: the internet money neobank, built on @avax.
Live now to download on iOS.
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hildobby retweeted
here's an HHI (Herfindahl-Hirschman Index) measure of concentration/diversity in blob posters + active vs. effective submitters
it will be interesting to track this moving forward! query can probably be improved, send feedback
dune.com/protocolguild/blob-…
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Robinhood posts 1/4 blobs lately
and this week, @EntropyAdvisors ran us through metrics behind the chain’s hot launch
🚨NEW EP: Robinhood Just Changed Crypto Forever? Inside Their New Blockchain🚨
Today we're joined by Tom Wan, Head of Data at Entropy Advisors, and Ali, Data at Entropy Advisors to break down one of crypto's biggest infrastructure launches of the year: Robinhood Chain.
We dive into why Robinhood chose @arbitrum as its blockchain infrastructure, how the partnership actually works behind the scenes, and what this means for the future of tokenized real-world assets. We also explore early onchain data, blob usage, revenue sharing, Ethereum economics, and whether @RobinhoodApp could become the everything-app for finance.
We discuss:
- Why Robinhood launched its own blockchain
- Robinhood's partnership with Arbitrum explained
- Blockchain infrastructure vs distribution
- Tokenized RWAs and Robinhood's vision
- Early Robinhood Chain adoption metrics
- Memecoins vs real-world assets
- Robinhood app UX and chain abstraction
- Blob usage and Ethereum settlement
- Robinhood Chain revenue sharing
- Ethereum vs Arbitrum economics
- The future of tokenized finance
- What's next for Robinhood Chain
- And much more—enjoy!
—
Timestamps:
(00:00) Introduction
(01:10) Why Robinhood built a chain
(09:20) Blockchain as infrastructure
(21:26) Memes vs RWAs
(23:39) Robinhood user experience
(31:25) Chain abstraction explained
(44:14) Robinhood blob dominance
(45:19) Revenue sharing model
(47:16) Arbitrum economics
(48:18) Future of Robinhood Chain
(51:03) What's coming next
(53:09) Outro
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hildobby retweeted
🚨NEW EP: Why Solana Data Doesn't Agree (And Why That Matters)🚨
Today we're joined by @waldruupi from the @SolanaFndn to discuss Solana Data, an initiative tackling one of crypto's biggest hidden problems: why different data providers report completely different numbers.
We discuss:
- What is Solana Data?
- Why crypto data providers disagree
- Institutional adoption & data quality
- Benchmarking Dune, Artemis, Allium & others
- DEX volume methodology differences
- Stablecoin supply challenges
- Wash trading & filtering assumptions
- Open source data benchmarking
- Building standards for crypto analytics
- The future of onchain data auditing
- Why transparency matters for institutions
- And much more—enjoy!
—
Timestamps:
(00:00) Introduction
(00:55) What is Solana Data?
(02:20) Why institutions need data
(04:23) Launching Solana Data
(06:24) Data provider disagreements
(11:15) Biggest data headaches
(12:08) Stablecoin supply issues
(14:14) DEX volume comparison
(22:19) Why metrics differ
(27:19) Cross-chain data standards
(32:50) Open source methodology
(36:00) Community contributions
(38:02) Most trusted metrics
(41:50) Final thoughts
(43:25) Outro
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hildobby retweeted
How does a data indexer operate on a network designed to keep data private?
@NovesBen of @Noves_Fi, joined @Indexed_Pod to walk through Canton's architecture, how privacy works at the network level, and what activity on Canton actually looks like.
Indexed Podcast
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Canton is obscure by design, @novesben gave us a rundown of how it works and the data they were able to surface on @Noves_fi
we all learned a lot here
🚨NEW EPISODE: Inside Canton: The Private Blockchain Powering Institutions🚨
Today we're joined by @novesben, co-founder and CEO of @noves_fi, to explore the Canton Network.
We discuss:
- What is the Canton Network?
- How privacy works on Canton
- Why blockchain data breaks on private networks
- How Noves indexes Canton data
- Validators, synchronizers & network architecture
- Network performance, TPS & scalability
- Institutional adoption & real-world assets
- Privacy vs transparency trade-offs
- What activity is happening on Canton today?
- The future of institutional blockchain infrastructure
- Live walkthrough of Canton analytics dashboards
- And much more—enjoy!
—
Timestamps:
(00:00) Introduction
(04:28) How Canton works
(10:04) Collecting private data
(12:29) Validators explained
(17:37) Network performance
(18:04) Peer-to-peer architecture
(25:57) What Noves can see
(27:27) Privacy vs transparency
(28:18) Institutional adoption
(35:27) Activity on Canton
(38:24) Canton dashboard demo
(43:57) Blockchain meets TradFi
(44:44) What's next for Noves
(46:04) Outro
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hildobby retweeted
🚨NEW EPISODE: Why Ethereum PropAMMs Aren’t Actually AMMs🚨
Today we're joined by @katiabanina, CEO of @bebop_dex, to unpack one of the most misunderstood emerging trading primitives in DeFi: PropAMMs.
We discuss:
- What Bebop does and its evolution
- Why PropAMMs aren’t actually AMMs
- RFQs vs streaming quotes
- The concept of Request for Stream (RFS)
- How PropAMMs work on Ethereum
- Market maker incentives and quote signing
- Toxic flow and execution quality
- Block builders and sidecar quote streams
- Ethereum vs Solana PropAMM designs
- Oracle updates and onchain execution
- RFQ vs PropAMM tradeoffs
- Adoption across aggregators
- The future of onchain market structure
- And much more—enjoy!
—
Timestamps:
(00:00) Introduction
(01:35) What is Bebop?
(02:25) Bebop’s evolution
(07:41) Why PropAMMs aren’t AMMs
(10:20) RFQs vs streaming quotes
(12:35) Request for Stream explained
(26:39) Ethereum vs Solana designs
(32:05) Signed quotes and incentives
(39:11) Block builders and sidecars
(47:06) RFQ vs PropAMM execution
(55:03) Oracle-traded markets
(56:24) Adoption and market share
(1:02:15) Future of onchain trading
(1:03:16) Outro
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hildobby retweeted
🚨NEW EPISODE🚨
Do AI Trading Agents Actually Work?
Today we're diving into AI trading agents, the rise of DeFAI, and whether autonomous trading bots are actually generating alpha.
We discuss:
- AI trading agents and the DeFAI hype cycle
- @elizaOS, @virtuals_io, and agentic trading products
- Onchain tracking vs qualitative research
- Whether agents actually made money
- Early wins, later losses, and extractive markets
- Alpha Arena and AI model trading competitions
- Why sample size matters for agent experiments
- Agent reliability, harnesses, and model variability
- AI workflows, Dune MCP, and product building
- Ethereum bearishness, EVM success, and ETH value capture
- Stablecoins and prediction markets
And much more—enjoy!
—
Timestamps:
(00:00) Introduction
(00:46) AI trading agents
(01:26) DeFAI product promises
(04:55) Eliza and Virtuals
(05:08) Research methodology
(12:58) Biggest wallet gains
(14:48) Profitability fades
(16:19) Alpha Arena experiment
(19:18) Sample size problem
(25:57) Learning from competitions
(31:51) Dune MCP workflows
(42:04) Ethereum bearishness
(53:41) Outro
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hildobby retweeted
We're hiring. We're bullish crypto. We believe there's so much more to do.
Come do it with us.
We are expanding our US investment team, looking for both early and growth stage investors, in NYC or willing to move. Looking to add both people with product/eng experience and those who have invested in fintech/SaaS/etc before. Come hang with myself, @tomhschmidt, and @TheOneandOmsy in Union Square if you want to spend all your time thinking about the future of finance.
Growth Stage: jobs.gem.com/dragonfly-caree…
Early Stage: jobs.gem.com/dragonfly-caree…
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I found 59 all-time highs in crypto last week.
- @Kalshi OI
- @tempo MPP Volume and TXNs
- @RobinhoodApp Tokenized Shares
- @ether_fi Card Volume
- HIP-3 OI, HIP-4 Volume
- @ventuals OI
- and more from @tradexyz, @trondao, @solana, and others
The full list is here, artemis.ai/insights?horizon=…
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It would be really cool if more RWAs weren’t just wrappers
This week we dived into @PanteraCapital’s new tokenization report presented by @sui414
🚨NEW EP ALERT: The State of Tokenization in 2026🚨
In today’s episode, we’re diving into the state of tokenization, unpacking what “real usage” actually looks like beyond headlines. Plus, the TradFi onchain vibe shift happening at conferences.
We discuss:
- The suits takeover and the Agora side-event
- TradFi players moving onchain (Bloomberg, S&P, and more)
- “Crypto is fintech now” and the industry narrative split
- State of Tokenization dashboard
- Transferability vs composability: what actually makes assets useful
- Permissioned wrappers, regulatory constraints, and 24/7 markets
- How DeFi can learn from curated collateral standards (Morpho)
- Why real estate is uniquely hard to tokenize
- Better tokenization metrics: wallets, velocity, volume, DeFi deployment
- Perp rails and Hyperliquid catching TradFi attention
- What’s next: how much TradFi volume moves onchain
And more—enjoy
—
Timestamps:
(00:00) Intro
(03:21) TradFi moves onchain
(04:35) Crypto becomes fintech
(15:57) State of tokenization dashboard
(20:55) Redemption frictions and heatmap
(27:21) Morpho collateral rating lessons
(30:35) Wrappers vs composability limits
(36:55) Real estate tokenization problems
(41:35) Metrics beyond tokenized value
(44:22) Perps and Hyperliquid draw
(52:27) Outro
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hildobby retweeted
Some perp DEX latency benchmarks 🧵
Post-only order averages:
- Hyperliquid: 400ms
- Aster: 130ms
- Extended: 15ms
- Lighter: 10ms
(doesn't touch matching engine)
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hildobby retweeted
🚨NEW EP: Is DeFi dead? The biggest bank run in history🚨
In today’s episode, we’re breaking down the @KelpDAO exploit and the cascading fallout across DeFi. We unpack how a @LayerZero_Core configuration was abused to mint unbacked rsETH, how the attacker used Aave to extract liquidity, and why this turned into DeFi’s first true “bank run” moment.
We discuss:
- Kelp DAO rsETH exploit overview
- LayerZero configuration and RPC attack
- Minting 290m unbacked rsETH
- Bridged assets and blast radius
- Depositing fake collateral into @aave
- How looping and leverage amplified risk
- Aave’s monolithic pool design flaw
- Morpho’s isolated market comparison
- Liquidation mechanics and bad debt
-$10B Aave outflows and bank run
- TVL quality vs headline TVL
- DeFi reputation and permissioned shift
And more—enjoy
Ep below👇
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