looking at AERO because the valuation still doesn’t make much sense to me next to UNI. $AERO market cap: ~$680m $UNI market cap: ~$5.7b UNI is worth more than 8x as much. last 12 months: Aerodrome fees: ~$132m Uniswap fees: ~$961m holder/protocol revenue: AERO: ~$94m UNI: ~$69m so AERO generated more revenue for holders over the last year while trading at a fraction of UNI valuation. wow. more trading, more fees more fees, more revenue for veAERO more demand for liquidity, more competition for votes that the current valuation gap is wide that’s why @koolkrypto223 thesis long aero short uni is really interesting but personally I prefer to just accumulate my AERO spot

did somedigging through defillama data and found pure alpha. right now $ETHFI sits around #13 by revenue / FDV among crypto projects with an FDV above $100M. now look a bit deeper into the token structure. It gets even more interesting. ETHFI market cap is almost equal to its FDV. nearly all tokens in circulation, investor vesting is done, so there isn’t some massive wall of future unlocks waiting ahead. at the same time, etherfi is generating real revenue and the team keeps buying ETHFI back from the market. so this is what you get: ~$45M+ annual protocol revenue ~6–8% rev / FDV depending on the snapshot mcap ≈ FDV dilution is already behind us ETHFI buybacks raw numbers, that puts it around #13. personally think ETHFI looks even better than the ranking suggests. among the neobank projects, it’s clearly the #1 leader by the metrics. every time someone feeds you bullshit or pushes some personal thesis, check the numbers on defillama is public. It’s all there. Decisions, decisions.

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damn, only three weeks until the big $AERO launch across seven chains. if you’re selling after a completely normal 15% correction because you can’t sit on your blue chip bags, i’ve got bad news for you. for everyone else, nothing changed. hold season. enjoy where we are, and enjoy even more where this is heading.

neobank narrative is still quiet. the good news is that you have some time to position yourself. interesting when enough people move their money onchain and stop seeing banks as the default. been building my spot portfolio over the last few months, and i’m planning to stake my $ETHFI instead of selling a good position for a 2x. hold market now. $700kk FDV. damn is it really legal on such market? ask yourself. but imo repricing is on the way. more card benefits, more reasons to hold, and more upside when the product keeps growing. banking is moving onchain. 24/7. self-custody.

zoom out. free for aero

well, $AERO on october 21: 7 chains. full deployment on every one. base, ethereum, arbitrum, robinhood chain, optimism, arc and ink. aerodrome + velodrome currently cover ~17% of evm spot volume. Alex says this launch roughly triples the market they can compete for. same AERO and sAERO rewards across all 7 chains. revenue flowing back to sAERO holders from the whole network. and projects can seed liquidity on one chain and get exposure across the ecosystem. that’s huge. AERO is one of my largest positions for a reason.

worth reading. big for $AERO

aerodrome wasn’t the first dex. etherfi wasn’t the first neobank. being first is overrated. execution, distribution and building a product people actually want matter more. $AERO $ETHFI

10 things that help me filter out the garbage and invest better than 90% of people in crypto 1/ buy projects that make real money 2/ look for buybacks (size matters) 3/ back doxxed teams with a real track record 4/ try to use the product yourself 5/ check if people actually need it 6/ understand why the token should have value 7/ watch unlocks, emissions and insider supply 8/ don’t buy just because the narrative is hot 9/ avoid tvl that only exists because of incentives 10/ know what would make you sell that’s why i keep my bet on projects like $ETHFI, $AERO and $AAVE i’ve got room for two more positions what am i missing?

if i had to put it simply, etherfi already feels like a bank built for the future. 24/7, global, and available right now. for a normal user, buying and selling stocks, metals and crypto from one app is already easier than dealing with multiple traditional platforms. the bigger question is: what separates etherfi from the next major wave of users, deposits, volume and transactions? 1/ the affiliate program needs a serious rethink. right now there isn’t enough incentive to actively push the product, and the team knows it. 2/ stronger vaults. this is probably the hardest part because higher yield usually means higher risk, but if etherfi can find a way to offer sustainable 7%+ yields with a risk profile that makes sense to people coming from traditional banks, that’s a massive pool of capital. 3/ support. waiting 2–3 hours for a response is still too long for a product that wants people to treat it like their main financial account. 4/ fx and fees. moving money, spending abroad and converting between currencies should feel almost invisible. this matters a lot once you compete with banks and fintechs 5/ better fiat rails. getting money in and out should be as simple as using a normal bank account, across as many countries as possible. there’s still a gap 6/ trust. the product already has a lot of the functionality. the next step is making a normal person comfortable keeping $50k, $100k or more there, not just a few thousand to spend. etherfi doesn’t need another 20 features.

you’re not bullish enough on $AERO reprice is on the way

long AERO/short UNI

here’s the thing. you don’t need a bag of 100 memes and to make money this cycle. focus on a few sectors that already have real demand, then own what I think are the strongest players in each. 1/ ETHFI + XPL are onchain banking ETHFI is already much more than a crypto card. inside one app you can hold and trade crypto, (soon perps), tokenized stocks and metals, earn yield, borrow against your assets and spend directly from the same account. XPL is the stablecoin side of the bet, focused on payments and moving money onchain. 2/ VVV - AI + privacy AI demand keeps growing, but privacy is still a weak point. If private inference and secure compute become more important, projects positioned around that layer can benefit from a much larger AI market rather than a small crypto niche. 3/ AERO is a base liquidity + RWA my direct bet. more users, apps and more volume should mean more demand for liquidity infrastructure. If base keeps expanding, AERO sits very close to that flow. a lot of big news and events are coming 4/ PENDLE - yield markets yield is becoming one of the biggest reasons capital stays onchain. gives users a way to trade and structure that yield instead of just passively earning it. you can buy beta game there is plenty of them but I prefer PENDLE 5/ AAVE is onchain credit infrastructure + RWA not just a lending. it’s becoming infra that other products can build on. thesis is simple: i don’t want 100 positions. I want exposure to a few big trends through the names I believe are best positioned to capture them. what’s your favorite bets, please share

let $AERO fly hold market.

3ds, statements and 0% fx, nice to see these added. what i’d add next: 1/ 0% fx for core, even with a monthly limit 2/ spending analytics by month and category 3/ purchase notifications showing the exact fx rate and final amount charged 4/ option to choose cashback categories each month 5/ card limits that can be changed directly in the app and don’t overload the app with every new feature. the simple ui is a big reason i like using plasma. well done team. @rongplace @zaheerebtikar