Part-time crypto investor, I write about protocols, prediction markets and new ideas Experienced in capital markets and IPOs
blockchain
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ethereum:0x6985884c4392d348587b19cb9eaaf157f13271cd is back to $2 with their ATLAS project.
Do you remember @LayerZero_Core? It was bridge infrastructure that did an airdrop in 2024.
I had a very good airdrop from them and I am STILL holding some tokens.
ATLAS will be universal back-end aggregating trading, liquidity and settlement.
Trading apps, prediction markets and institutions will build on top of it. Launching late 2026.
75% of its fees will go towards buying ethereum:0x6985884c4392d348587b19cb9eaaf157f13271cd. Good to see people following $HYPE.
Looks like a good long term hold if it follows the same trajectory as HYPE.
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Blast winding down isn't surprising. Wonder happens to Blur. I think it continues.
Blur did a lot for NFT liquidity. To this day, they still do BNPL loans for big collections.
Some pudgies are nervously looking at the loans situation on Blur. Pudgies facing general fud and some heat on Abstract chain.
Could be a bargain window. Pudgy winter is coming.
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The @jumperapp sale ended on $46m committed. That's impressive.
Congratulations Jumper and @legiondotcc!
But do you remember the legendary YieldBasis sale?
That did $183m demand on a $5m raise. 61k applications at $200m FDV. Everyone made money.
The market was even crazier.
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Mixed week for me.
Good wins on Fomo but Polymarket bag took a hit.
Waiting for Ethos Network TGE next week (Oct 8).
I like that $WHUF token is now needed for most actions beyond reviews (e.g. trading reputation).
Realigning the bag this weekend.
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Grateful for the follows from some big boys🙏🙏
Sorsa has got a pretty nice app. I might start using it a bit more often.
How's your score looking?
Woke up to seeing my fomo bag up
I will not roundtrip this time, I will not roundtrip, I will not roundtrip, I will not roundtrip...😅
Hope you are doing good
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Woke up to seeing my fomo bag up
I will not roundtrip this time, I will not roundtrip, I will not roundtrip, I will not roundtrip...😅
Hope you are doing good
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Murkiwaters 🦑⛩️ retweeted
Ethereum did its ICO in 2014 at an implied valuation of $22m.
Average price paid per $ETH was $0.31. Buyers paid in $BTC.
Genesis supply 72m tokens. 60m sold to the public. 12m to contributors and the foundation.
Full circulation. New ETH supply only from mining.
Vitalik received ~550k ETH (worth $180k at the time). Fully aligned.
Nobody got rich at TGE. Nobody needed a liquidity event. No high FDV low float.
Compare that to today😂
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Surprised to see Solstice TVL dropping to $215m.
At this level, solana:SLXdx4BUt2v9uJQNzWqSfzTJ9UKLUDsvxHFMEEdrfgq at $62m FDV (> 0.3x TVL) is looking expensive without a strong growth trajectory.
Even after S2 vesting has fallen away, the token is still sluggish.
Where should I park my Solana capital now?
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Jumper sale applications on @legiondotcc already hit $10m in less than 3 hours. I aped.
Risk appetite is back. @jumperapp reopening the ICO market.
We cook?
Jumper is launching its sale of JUMP at $75m FDV on @legiondotcc.
Is $75m expensive?
It comes down to this
> Will it become a consumer super-app?
> Can it capture value that flows to its token?
If you believe it will do both, then $75m is cheap👇
Otherwise you are just playing the market sentiment.
What it is now
@jumperapp is a leading bridge aggregator, with all-time volume of $41bn.
Bridge trading comps:
> Debridge DBR $220m (does buybacks)
> Stargate STG $143m (owned by Layerzero)
> Across ACX (being sunset in 2027)
Bridges have their own infrastructure and liquidity, while aggregators like Jumper are essentially distributors.
Aggregators charge front-end fees on top of protocol fees that bridges charge.
In some cases, front-end fees can even be higher than underlying protocol fees.
Cross-chain router Squid did their sale at $45m FDV. QUID is trading at $68m.
Socket/Bungee is a good aggregator comp, with slightly higher 30d volumes. But it has no token yet.
What it aims to be
Jumper aims to be a super-app for on-chain finance.
It is expanding beyond bridges/swaps to earn, RWA and perps.
Jupiter is the blue sky comp with a similar product suite. $JUP trades at $2.2bn FDV.
It started as a swap aggregator and expanded into earn, lending, perps and RWA. It is Solana's super-app.
But Jupiter has a house book, liquidity and clearing infra. Jumper is an aggregator and distributor.
Some argue that aggregators should trade at discounts to their underlying protocols. Look at Vooi's FDV compared to the perps protocols it aggregates.
Ultimately, it comes down to revenues.
A distributor can offer a suite of choices to users. Users can get the best pricing.
Jumper claims 100k+ monthly average users. If it can develop a captive user base, it can capture the fees.
And if value flows to the token, there is no reason why Jumper cannot move towards the Jupiter end of the value chain.
Jumper says there is no equity. So investors will only get value from the token.
Personally, I don't think $75m is cheap, but it is a decent entry point if you believe the story.
Downside is that TGE is only stated as "Q4 2026". Your capital could be locked up for awhile.
ALT source: defillama
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Jumper is launching its sale of JUMP at $75m FDV on @legiondotcc.
Is $75m expensive?
It comes down to this
> Will it become a consumer super-app?
> Can it capture value that flows to its token?
If you believe it will do both, then $75m is cheap👇
Otherwise you are just playing the market sentiment.
What it is now
@jumperapp is a leading bridge aggregator, with all-time volume of $41bn.
Bridge trading comps:
> Debridge DBR $220m (does buybacks)
> Stargate STG $143m (owned by Layerzero)
> Across ACX (being sunset in 2027)
Bridges have their own infrastructure and liquidity, while aggregators like Jumper are essentially distributors.
Aggregators charge front-end fees on top of protocol fees that bridges charge.
In some cases, front-end fees can even be higher than underlying protocol fees.
Cross-chain router Squid did their sale at $45m FDV. QUID is trading at $68m.
Socket/Bungee is a good aggregator comp, with slightly higher 30d volumes. But it has no token yet.
What it aims to be
Jumper aims to be a super-app for on-chain finance.
It is expanding beyond bridges/swaps to earn, RWA and perps.
Jupiter is the blue sky comp with a similar product suite. $JUP trades at $2.2bn FDV.
It started as a swap aggregator and expanded into earn, lending, perps and RWA. It is Solana's super-app.
But Jupiter has a house book, liquidity and clearing infra. Jumper is an aggregator and distributor.
Some argue that aggregators should trade at discounts to their underlying protocols. Look at Vooi's FDV compared to the perps protocols it aggregates.
Ultimately, it comes down to revenues.
A distributor can offer a suite of choices to users. Users can get the best pricing.
Jumper claims 100k+ monthly average users. If it can develop a captive user base, it can capture the fees.
And if value flows to the token, there is no reason why Jumper cannot move towards the Jupiter end of the value chain.
Jumper says there is no equity. So investors will only get value from the token.
Personally, I don't think $75m is cheap, but it is a decent entry point if you believe the story.
Downside is that TGE is only stated as "Q4 2026". Your capital could be locked up for awhile.
ALT source: defillama
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Legion's Republic has launched its campaign with @jumperapp.
5% of the sale is allocated to the Republic ($150k of the $3m cap).
Here's what to do 👇
Join @legiondotcc
Join the Republic now
republic.legion.cc/?ref=ed51…
On the Republic, you earn Valor Points (VP) which are like raffle tickets.
You earn VPs through
> raids (engaging with X content)
> conquests (forming squads to do quests)
> following "The Road" map and earning crates and ore
When the sale opens, you commit your VP into the draw and hope you get allocated.
You must also participate in the sale on Legion. KYC your account and commit USDC when the sale opens.
You must both commit Republic VP and participate in the Legion sale to be eligible for the draw.
Raids are not difficult. Mostly liking and replying to selected posts with substantive comments.
There are only 2 days left to the Jumper sale. Don't wait till the last minute.
Good luck!
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Staying locked in this weekend.
Lots to do.
Trading on fomo. Republic raids on Legion. Polymarket. Variational.
Hunt alpha.
Let's go.
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Murkiwaters 🦑⛩️ retweeted
If you want to participate in the $JUMP sale on @legiondotcc, you should also join the Jumper waitlist.
Get some referrals. Try to rank in the top 500. @jumperapp hinted that it will give benefits in the sale.
Join here:
waitlist.jumper.xyz/r/JMP-D7…
As expected, the $JUMP token sale announced for 29 Sept on @legiondotcc.
@jumperapp is the #1 aggregator with $41bn volume.
Jumper wants to be a super-app covering bridging, swapping, yield, RWA and perps aggregation.
Legion is showing
Target raise of $2m (capped $3m).
Q4 TGE
$75m FDV
50% vest at TGE, 50% over 4 months
Looks decent. What do you think?
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