The Learning Pill ๐Ÿ’Šโœ“

@thelearningpill

Curating crypto alfa, insights and new projects so you can make it // Storyteller at @glasscade_xyz Nothing here is financial advice.

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  1. The Learning Pill ๐Ÿ’Šโœ“@thelearningpill
    The Learning Pill ๐Ÿ’Š
    RT @thelearningpill: At the end of 2021, $637.08M sat in on-chain options protocols. Most of that money sat in vaults selling calls and puts, while the venues built for active trading made sellers post the full strike as collateral and, on Hegic, set implied volatility by hand. $DRV is the clearest case of what changed. It survived by moving to order books and portfolio margin that treat a hedged book as hedged, and by Q3 2026 it held up to 92.4% of on-chain options premium. The first wave had the demand - it took a rebuilt venue to make that demand tradeable.
    The Learning Pill ๐Ÿ’Š @thelearningpill
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  2. The Learning Pill ๐Ÿ’Šโœ“@thelearningpill
    The Learning Pill ๐Ÿ’Š
    RT @thelearningpill: My bullishness for $AERO has no regard for the 'sell-the-news' event Less than a week since the launch and @aeroxyz clinched #1 exchange for tokenised equities across all stocks and chains A simple rundown on how every $AERO feature has one job in a loop: > New chains, strategic assets and competitive LP pay win flow > Dynamic fees and the MEV tax earn more from it > Gauge Caps, the Momentum Fund and the REV Engine keep supply in check The loop closes because the more each trade earns, the less $AERO it takes to keep LPs paid. Revenue that doesnโ€™t lift gauge caps, like the unstaked fee and service revenue, is where revenue per token can outrun dilution.
    KoolKrypto @koolkrypto223
    Everyone who's looking at $AERO price post update thinks it was a failure. Everyone who's looking at global market share, holder revenue, efficiency of emissions, volume share growth on new chains etc thinks it was a success. Given that a lot of features aren't even live yet (MEV recapture, Autopilot, emissions migrated and properly directed, aggregators picking it up etc), I think we're sitting at the inflection point of price diverging from fundamentals. And the fundamentals are only going to get better from here as the update goes fully live; we're currently seeing the absolute floor of the new model's performance. Think we're going to look back in a few weeks/months and realize that the market lazily decided that bad PA during a broader slump meant the update was a failure before letting the actual data come in. Adding more $AERO here. If the market is in for a worse slump, it'll probably bleed disproportionately due to increasingly losing this narrative battle, but I think if you're constructive (i.e not a ๐Ÿณ๏ธโ€๐ŸŒˆ๐Ÿป), it has great R:R here at $0.65-0.70.
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  3. KoolKryptoโœ“@koolkrypto223
    Everyone who's looking at $AERO price post update thinks it was a failure. Everyone who's looking at global market share, holder revenue, efficiency of emissions, volume share growth on new chains etc thinks it was a success. Given that a lot of features aren't even live yet (MEV recapture, Autopilot, emissions migrated and properly directed, aggregators picking it up etc), I think we're sitting at the inflection point of price diverging from fundamentals. And the fundamentals are only going to get better from here as the update goes fully live; we're currently seeing the absolute floor of the new model's performance. Think we're going to look back in a few weeks/months and realize that the market lazily decided that bad PA during a broader slump meant the update was a failure before letting the actual data come in. Adding more $AERO here. If the market is in for a worse slump, it'll probably bleed disproportionately due to increasingly losing this narrative battle, but I think if you're constructive (i.e not a ๐Ÿณ๏ธโ€๐ŸŒˆ๐Ÿป), it has great R:R here at $0.65-0.70.
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  4. The Learning Pill ๐Ÿ’Šโœ“@thelearningpill
    The Learning Pill ๐Ÿ’Š
    RT @thelearningpill: October on Robinhood Chain felt more like a cooldown than a collapse. > Spot DEX ~$29B over 30 days (down ~25% on the week) > Chain fees fell from the early-Sep ~$8M day to the $30-40k range > Perps held up better (~$900M recent 24h) > Cumulative DEX already cleared $100B in ~4 months Vlad framed the chain as the preferred home for tokenised assets (incl. third-party like $ONDO ) and said the plan is to expand well past the current ~200 stock tokens while moving more of the Robinhood product set on-chain. The September spike was mostly launchpad and meme-stock frenzy around names like $PONS and $AI. The next phase looks more likely to be driven by actual RWA and tokenised assets with product integration behind them, And lets not forget utility and AI tokens - keen on what @Moshdottrade $BUN can do for the eco, and how we can involve agents like $ORBIO (i.e. already live on @kivoagentxyz)
    Robinhood @RobinhoodApp
    Robinhood Markets has just released financial results for the third quarter of 2026.
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  5. Robinhoodโœ“@RobinhoodApp
    Robinhood Markets has just released financial results for the third quarter of 2026.
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  6. The Learning Pill ๐Ÿ’Šโœ“@thelearningpill
    Wallets used to be where your crypto sat and now theyโ€™re starting to handle the everyday stuff. You could swap inside them, earn on your stablecoins, and eventually tap a card at the supermarket and pay with the same balance. Bit by bit, the wallet started to look like the finance app on your home screen. One piece was still missing, and it was the most ordinary one of all โ†’ getting paid. I found that @BitgetWallet's new Virtual Account solves this. Eligible users can open a USD or EUR receiving account in their own name, without leaving the app. The person paying you sends a regular bank transfer, nothing new on their side. By the time it reaches you, itโ€™s already USDT or USDC. What I like is how little it asks of anyone else: > If youโ€™re freelancing for a client in Europe โ†’ share your EUR account details and they pay you like any other supplier > If youโ€™re working remotely for a US company โ†’ your pay can land straight into the same wallet you already use every day > If youโ€™re a digital nomad โ†’ your money moves with you instead of being tied to a specific bank Once it lands, your money is ready to use: > Earn with Bitget Wallet Earn (currently 6.74% APY for USDC and 5.47% for USDT) > Spend with the Bitget Wallet Card or QR Pay > Trade, all within the same app Itโ€™s a small change on paper. Day to day, it means your pay arrives in the same place you save, spend and grow it, with one less stop along the way. The first 1,000 eligible users get a fee rebate on incoming transfers of at least 50 USD/EUR. You can check your eligibility here โ†’
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  7. The Learning Pill ๐Ÿ’Šโœ“@thelearningpill
    On my numbers, the core $USDe book alone can support todayโ€™s $ENA price. It just needs USDe back where it was a year ago. Valuing it at a 4% buyback yield: > $10B of USDe: ~$46M a year, about $0.08 per ENA > $15B: ~$128M a year, about $0.21 per ENA > $20B: ~$228M a year, about $0.38 per ENA Thatโ€™s approx. where $ENA trades today. So the bull case, USDe back at its 2025 peak, covers the current price on its own. Whatโ€™s different now is the rails: > @coinbase, @binance and @RobinhoodCrypto > Funding is back above 5% > Equity perps give Ethena yield that doesnโ€™t depend on crypto leverage The next leg has to be organic since token incentives ended, and the rails to get there are already built. This is one pillar. @EthenaPay and Whitelabel sit on top.
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    Glasscade @Glasscade_xyz
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  8. The Learning Pill ๐Ÿ’Šโœ“@thelearningpill
    After four straight quarters of decline, spot DEX volume on @BNBCHAIN rose 28% in Q3 to $75.7B. The composition of that rebound matters more than its size. > Tokenised-asset pairs went from 0.2% of spot DEX volume to 32.3% > Tokenised-equity trading reached roughly $25.6B for the quarter, about 11x Q2โ€™s $2.4B, and $24.4B of it cleared on DEXs > Stablecoin swaps grew 31% to $9.6B while stablecoin supply dipped > Non-stablecoin RWA supply rose 24% to $4.96B, with tokenised equities at $1.13B, the most of any chain. @PancakeSwap still took 56.7% of all of that spot volume. If youโ€™re bullish that BNB volumes return alongside the wider market, and that stablecoins and tokenised assets keep taking a larger share of what trades on-chain, I see $CAKE as the most direct proxy of both. We have seen this setup before during the 2021 BNB season, where $CAKE ran from $0.62 to an all-time high of ~$44 on 30 April, the same month BNB first broke $600. Volume on the chain had one dominant venue, and the venueโ€™s token carried the move. (Data: @Blockworks)
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  9. The Learning Pill ๐Ÿ’Šโœ“@thelearningpill
    Posts @thelearningpill
    Read my piece on Pancakeswap ๐Ÿ‘‡
    The Learning Pill ๐Ÿ’Š @thelearningpill
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  10. The Learning Pill ๐Ÿ’Šโœ“@thelearningpill
    The Learning Pill ๐Ÿ’Š
    RT @Glasscade_xyz: Top 10 card programs ranked by 7D volume change [20th Oct to 26th Oct] 1) @coca_card +18.3% 2) @bfinancepay +14.5% 3) @MetaMask +10.3% 4) @KASTxyz +6.6% 5) @itstuyo +6.0% 6) @KoloHub +5.9% 7) @Plasma One +2.9% 8) @RedotPay +1.7% 9) @ether_fi Cash +1.3% 10) @wirexapp +0.4% The leaderboard looks healthier than it is. @coca_card tops the week at +18.3% but sits down 19.2% over 30 days, and @MetaMask is up 10.3% on the week against an 8.9% monthly decline. Several of the weekโ€™s biggest movers are bouncing off a lower floor, not building on a higher one. A few of them had actual news behind the move, which is worth more than the percentage: @MetaMask reopened UK sign-ups this week, which is the kind of access change that feeds straight into weekly spend. @itstuyo is retiring its โ€œbuy now, pay maybeโ€ model and switching to a flat 1.5% cashback from 1 November. A simpler offer, though a thinner one for anyone who worked the old structure. @RedotPay rolled out its Pro membership tier and confirmed its acquisition of BTCBOX, pushing further into Japan. It only grew +1.7% on the week, but on a $95M book thatโ€™s still the heaviest kind of base to move. The dollar story sits underneath the rankings as usual. @KASTxyz grew +6.6%, but that came to +$1.7M in real spend, the largest gain of any program this week, on a book now serving around 1.4M users. Percentage flatters the small, and dollars reward the big.
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  11. The Learning Pill ๐Ÿ’Šโœ“@thelearningpill
    For BTCFi to succeed it needs: > Real borrow demand for BTC (not just another $15B sitting as idle collateral in $AAVE and $MORPHO markets) > Yields paid in BTC by actual borrowers, not temporary incentives or reward tokens like $BABY, $BARD or $SOLV emissions which is common phenomenon > Utilisation that gets meaningfully above the current ~3% in most lending markets > Products that answer who pays, who takes first loss, and how you exit w/o the rate collapsing when the campaign ends The $15B number looks big until you see almost none of it is actually being borrowed. Alternatively, the @Two_Prime Axiom WBTC Yield Vault is an interesting proposition, where Two Prime will absorb the first loss with 150 WBTC of its own capital.
    Pareto @paretocredit
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  12. Paretoโœ“@paretocredit
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  13. The Learning Pill ๐Ÿ’Šโœ“@thelearningpill
    Seeing some boycotting of $PUMP and even leaked(?) messages on how its structured to be What we know: > @Pumpfun IS designed to be extractive > casino mechanics shaped into another form in crypto > raised huge and hence a huge marketing budget for rewards and KOLs > gave us good runners and also bad features (ridiculous live stream stuff) Yet despite all these it still remains the dominant volume platform on Solana, and with the amount of revenues its generating, it continues snowballing its position with what it can offer. Tough to take the degen out of crypto, cause who is here/will remain for the 'gud tek'? (Data: @Blockworks )
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  14. The Learning Pill ๐Ÿ’Šโœ“@thelearningpill
    You want yields? Points? Giga-brain farming strats? A place where both yield and points farmooors can enjoy the treat! It's time for Yield Collective No. 61 Bring your wallet, letโ€™s eat ๐Ÿ‘‡
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  15. The Learning Pill ๐Ÿ’Šโœ“@thelearningpill
    Posts @thelearningpill
    8๏ธโƒฃ PendleLoop for Tokenised Stocks @thelearningpill noted the new PendleLoop feature that lets you auto-loop long/short on tokenised stocks (MAG7, BTC, ETH available). Free until end of year. More directional leverage than pure stable yield - watch for the liquidation price if you max it ๐Ÿ‘‡
    The Learning Pill ๐Ÿ’Š @thelearningpill
    New PendleLoop feature looks fun You can auto loop to long/short your stonks and its free till EOY > Profit either from price going up/down depending on position > Take note of the liq. price. Unless you're ultra sure you won't get liquidated then you can full max out the leverage but don't recommend that The popular MAG7 options (alongside BTC & ETH) are available now. Also don't see any loop to short options for stonks now but should also be available in due time! $PENDLE
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  16. The Learning Pill ๐Ÿ’Šโœ“@thelearningpill
    New PendleLoop feature looks fun You can auto loop to long/short your stonks and its free till EOY > Profit either from price going up/down depending on position > Take note of the liq. price. Unless you're ultra sure you won't get liquidated then you can full max out the leverage but don't recommend that The popular MAG7 options (alongside BTC & ETH) are available now. Also don't see any loop to short options for stonks now but should also be available in due time! $PENDLE
    Download
    164271.6K
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