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Saylor Survives, other crypto DATs are cooked
James Christoph explains why MicroStrategy can't be replicated, DATs are doomed, and crypto markets are more efficient than people think. Plus: Celestia's inflation problem, Ethena's systemic risks, and why Hyperliquid nailed their stablecoin strategy.
Subscribe to the newsletter! https://newsletter.blockspacemedia.com
NOTES:
• MicroStrategy's structure makes it impossible to blow up
• DATs trading at discounts lack restart mechanisms
• Ethereum staking yields ~40 bps after inflation/taxes
• Celestia's inflation driving price toward zero
• Ethena's depeg could trigger cascade in Pendle/Aave
• Hyperliquid has ~$10B USDC bridged, negotiating revenue split
Timestamps:
00:00 Start
00:27 Who is James Christoph?
00:49 Solana treasury companies
04:18 Tom Lee memory hole
05:42 ETH is for stablecoins :) jk
08:04 Bitmine & Sharplink Gaming
10:31 Tom Lee invested in a "fund of DATs" wat?
12:03 DATs & yield
14:29 Ok, define arbitrage?
17:03 Liquid staking tokens are stupid
20:20 Addicted to yield
24:05 Exotic derivatives
27:24 Bitcoin as a benchmark
35:03 ETH, silly silly ETH
39:58 Hyperliquid
43:50 Decentralization doesn't matter, sorry
48:26 Celestia - The Modular Blockchain TM
55:01 Athena
59:06 Fed interest rates
59:39 Circle
1:00:27 USDH
The Gwart Show is sponsored by Ellipsis Labs, the builders behind Atlas, a blockchain for verifiable finance and Phoenix, an on-chain orderbook DEX with over $50 billion in unincentivized volume.
If you’re interested in a mission-driven company, Ellipsis Labs is hiring engineers passionate about crypto and finance to work on Atlas. Learn more and apply on Twitter at @Ellipsis_Labs and @atlasxyz.
Learn more about your ad choices. Visit megaphone.fm/adchoices
View all episodes
By Blockspace Media
4.8
1212 ratings
James Christoph explains why MicroStrategy can't be replicated, DATs are doomed, and crypto markets are more efficient than people think. Plus: Celestia's inflation problem, Ethena's systemic risks, and why Hyperliquid nailed their stablecoin strategy.
Subscribe to the newsletter! https://newsletter.blockspacemedia.com
NOTES:
• MicroStrategy's structure makes it impossible to blow up
• DATs trading at discounts lack restart mechanisms
• Ethereum staking yields ~40 bps after inflation/taxes
• Celestia's inflation driving price toward zero
• Ethena's depeg could trigger cascade in Pendle/Aave
• Hyperliquid has ~$10B USDC bridged, negotiating revenue split
Timestamps:
00:00 Start
00:27 Who is James Christoph?
00:49 Solana treasury companies
04:18 Tom Lee memory hole
05:42 ETH is for stablecoins :) jk
08:04 Bitmine & Sharplink Gaming
10:31 Tom Lee invested in a "fund of DATs" wat?
12:03 DATs & yield
14:29 Ok, define arbitrage?
17:03 Liquid staking tokens are stupid
20:20 Addicted to yield
24:05 Exotic derivatives
27:24 Bitcoin as a benchmark
35:03 ETH, silly silly ETH
39:58 Hyperliquid
43:50 Decentralization doesn't matter, sorry
48:26 Celestia - The Modular Blockchain TM
55:01 Athena
59:06 Fed interest rates
59:39 Circle
1:00:27 USDH
The Gwart Show is sponsored by Ellipsis Labs, the builders behind Atlas, a blockchain for verifiable finance and Phoenix, an on-chain orderbook DEX with over $50 billion in unincentivized volume.
If you’re interested in a mission-driven company, Ellipsis Labs is hiring engineers passionate about crypto and finance to work on Atlas. Learn more and apply on Twitter at @Ellipsis_Labs and @atlasxyz.
Learn more about your ad choices. Visit megaphone.fm/adchoices
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