heard elon is bidding zcash

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…

We’re so ₿ack.

FYI

very proud of this one and hope it helped others build conviction around zcash:native zillions

our banger deep dive by @simononchain in feb is now public and free to read

I found a version of zcash:native which: - broadcasts your entire transaction history to the whole world - is not quantum secure and has no credible path to be - has no real plans to scale the chain to support global usage Oh and it trades at ~60x the market cap of Zcash.

for zcash, privacy is often misunderstood as the end all be all that certainly serves a clear market segment and is incredibly important but I posit the more significant part of privacy is its role in enabling a better monetary asset privacy enables choice, but more importantly it enables the safe haven and fungibility required for a true internet-native SoV internet-money by default has historical information attached to it which means that one coin may not actually be fungible for another coin (i.e if the Canadian government determines your coins came from those supporting the truckers, they can come after you for years into the future) i.e the money you receive shouldn't come with the baggage of those who held it before you cash does not have this problem and is devoid of all information which enables true fungibility and higher liquidity in the limit, and so too must internet-native money have this property even with gold and other offshore holdings, there's a reason people (used to) put them in Switzerland to take advantage of bank secrecy but with Zcash, we now scale this to the entire planet. that's the point of tech: scale now, all you need is an internet connection and a cryptographic keypair to get all these benefits that were only available to a select few so, even if you're someone who doesn't need the privacy aspect of zcash, it's still foundational for enabling a better monetary asset along with quantum proofing and performance upgrades trillions

garret bullish adding to his $ZEC short this morning - position is now ~$47M notional - upnl of -$21.8M - liquidation at $2,631 do the needful @cypherpunk @BarrySilbert

It’s been great working with @simononchain and the whole Privy team 🙌

im in the solana:9cRCn9rGT8V2imeM2BaKs13yhMEais3ruM3rPvTGpump black bull token ownership gated club section that you guys cant get into with @lucacs, iggy azalea and thread guy, and we’re all off a bean, I wouldnt expect you to get it...

IONQ announced at their investor presentation yesterday that they anticipate having the ability to break ECDSA keys with about a month of compute starting in 2 years from now. BTC seeing significant spot selling while ZEC is seeing buying. I don't think these are unrelated

AI doom = Zcash boon

eliminate short terms capital gains tax

bro worth multi 9 figs but still vibe coding apps to bagwork his own short You just don't want it bad enough.

up only (privately)

ruh roh!

zcash is trading like the world got its wish to go back in time to buy Bitcoin

There's nothing else in the digital currency space like the cryptographic technique underlying #Zcash. It's a moonshot: risky, but certain to change everything if it succeeds.