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DeFi & RWAs
Recorded: April 3, 2025 Duration: 2:44:39Space Recording
Short Summary
In a turbulent market marked by significant declines across major indices, traders are adapting their strategies in response to geopolitical events, particularly the recent Trump tariffs. With tech stocks and cryptocurrencies facing heavy losses, defensive sectors like healthcare and consumer staples are showing resilience, highlighting a trend of cautious optimism amidst volatility.
Full Transcription
Thank you. Thank you. Thank you. Good morning, everyone.
Happy Thursday.
It is April the 3rd, and there's a lot of red on my screen.
Obviously, a lot has happened over the last uh oh gosh 16 hours i guess at this
point uh with all the different tariff stuff that's going on we'll see uh we'll see what
happens what the day brings of course we'll be live right here all morning bringing it to you
uh got some of my friends trickling their way in for some live trading.
We'll see how much actual live trading does take place today. We may just have a watch party around
the market. We'll kind of see what everyone's thinking as far as that goes. And then if anyone
has any thoughts, of course, around the market, we did run a space last night over on the Stocks on Spaces account that ended up going nearly nine
hours. It was over 62,000 people that tuned in and a lot of different opinions, a lot of thoughts
and not great thoughts, I guess, if we're being 100% honest. Market a little bit shocked by the
Trump tariffs that were announced yesterday. A little bit, I guess, worse than feared,
I guess, would be the term here. So let's take a look around the market just in case you haven't
opened your app yet and you want to see where everything's at. But we are obviously down big
across the board. We are currently sitting at down 4.4% on QQQ, 3.68% on SPY, 5% on the IWM, and just under 3% on the Dow Jones Industrial Average.
VIX is up 2.7%.
this a little bit ago, VIX is not as high as it was basically a month ago, early March,
March 10th or 11th, when we pushed up to that 2930 area. VIX is not up there, not yet anyway.
So that's where we're at across the indices. Individual names, I'll go over the ones that
are down the most. Of course, we do watch a lot of tech and Mag7 names here.
Amazon is down 7%.
Broadcom is down 7%.
Apple down 8.25%.
Meta 6.2% down.
Nvidia 6% down.
Google 4% down, I guess.
The bright spots may be things that aren't
as down as bad as others uh three percent down on microsoft a couple other big names i know that
people watch uh we'll hit crypto first bitcoin is under 82k right now uh ethereum i believe is
at a new 52 week low it's down at 17 uh 1760, that area, 113 on Solana. The crypto names are down
pretty big as well. MSTR down almost 8% there. Coinbase down 7.5%. You're going to see this
across the board. A lot of these names are all down 5% to 7% right now, especially some of the higher beta names. So let's see, what else is
on here? I know some names that are getting hit harder than others, just to highlight those.
If you look at a lot of your retail, like your apparel type of names, Nike, Lululemon, down big,
on on, me and Casey's favorite shoes, like 16 17% this morning even your airlines are
down so there's not much that's not down very big this morning I see Robin Hood is down 11%
I'm trying to look for some of the bigger ones through here him's down 9.8%, Dow down 10 percent. So yeah, if I had to find a bright spot, I see J&J,
Johnson & Johnson is up 1 percent. NextEra Energy is green. I was trying to find something green
just to not be completely negative here. But yeah, that's about all I'm seeing. UNH is green.
here um but yeah that's about all i'm seeing unh is green obviously uh tlt the bonds are green this
morning but that's about all i've got really going through the watch list here um but i'm interested
we've got kc and maple up here so i'm interested in seeing what uh what's going through their minds
as some of our traders have joined us and they're investors as well.
Most of these traders that I know
are also running some long-term stuff.
So it'd be interesting to hear from a trading perspective
and then any long-term perspective that you guys have.
And we've got just under four minutes till the open.
Casey, I'll go over to you first and see what are you thinking?
What's your initial thoughts
as you open up everything this morning?
I know you're keeping an eye on it, but what are you thinking going into today?
Good morning, good morning.
So, I mean, my IRA is not looking fantastic this morning.
Obviously, I'm sure with everybody else's long-term accounts are looking very red this morning. I sent a chart out last week for
just my thesis on SPY, just on the larger time frame, and the first big target downside was 520.
So I honestly didn't think it would happen so fast to the point to where, you know, we would see SPY at 570 at a peak yesterday.
And then, you know, today we're almost down here close to 540, seeing a almost, you know, $30 drop on SPY in less than, you know, 24 hours.
in less than 24 hours.
It's pretty insane.
It's pretty insane.
So I do think overall,
we do see a little bit more for this correction
to go a little bit lower.
So for me today, honestly, I'm just sitting on my hands.
I'm gonna try and take one trade on SPY
for the small account challenge
if I do see something set up intraday
for even if it's just a scalp, whatever it is. But majority of my day right now spent is going to be zooming out, looking left,
going back in time on the MAG7, going back on spying cues. And I'm just going to be doing a
lot of charting to find key pivot points and levels downside if the market does continue
lower. That's my main goal today is to kind of just do the homework to set myself up for
success in the future. If obviously over time, the next few weeks or months, we obviously continue to
see lower highs and lower lows get put into the market. So that's just where my mind's at right
now and what I want to accomplish. Yeah, definitely interesting from a trading standpoint. If you do find some type of scalp
type of trade, I mentioned earlier when I was on with Evan that keep your eyes for any type
of limit down. I'm not saying that that's going to happen, but it just should be on your radar.
If you trade prop firms, 100% double check the rules because there are several that have rules against trading. If you
get close to those limit downs, if you get within 2% of a limit down, which is that 7% down on the
day. So if you get to 5% down, a lot of those prop firms will, you'll violate the rules for
operating. So if you are a prop firm trader, please keep that in mind. Do some research,
make sure that you aren't breaking any rules. Would hate for anyone to blow an account without
knowing maybe some of those rules that are out there. And yeah, we'll see what happens.
Appreciate you kicking us off there, Casey. We've got 30 seconds to the open. Maple,
of course, you can jump in at any point if you want.
Of course. Good morning, guys. Sorry. I know we're about to open up here, but please, you know, don't have a bias set either way. Um, I'm going to look for the intraday confirmation,
you know, what my EMAs are doing on 10 minute, where prices in regards to VWAP.
And of course what candle by candle method is doing. All right. So let's have some fun. Let's
make some money. Let's be disciplined and, uh and have a great day. Let's get it.
Let's go open it up. We are officially open in three, two, one, and boom, opened up at down 4%.
I see VIX updated for me. It is up 27%, but it is still at 27.30.
So that's where we're at.
Microsoft actually getting a push up here,
which it was one of the names that were completely beaten down.
We're right at 4% down on QQQ, 3.3% down on the S&P,
four and a half over on IWM.
And here we go buckle up
I will say one thing Tesla it was down six percent but it is not under yesterday's low down there at the 250s.
It's actually in the 260s still, getting just a small pop here, closer to 270.
So Tesla's actually not looking like that bad, I guess I can say.
Yeah, that bad.
We may hear that term a lot today.
I see some more people joining us up here.
Good morning, Frank.
Morning.
Just watching, seeing what the percentages are down and everything.
That's only down 2.574.
Yeah, we didn't just completely
From where we got down and push down to we basically came down kind of double bottom there
on the futures going right into the open here and
Here we are pushing back up just a little bit here in the first few moments of treating go around a Mikey
Mr. Michael Che. How are you?
How are you?
I'm doing fantastic, my brother.
Market's not doing fantastic, but I'm doing fantastic.
Anything that you're watching?
Any words of wisdom?
No, but yesterday was uh an amazing day my god
love to hear that live trading of course any uh call outs will take precedence in this space
as people jump in any type of trades we'll see how much uh activity we get today i'm sure some
of these great traders up here will be taking something at some point and we'll see how it goes. StockSniper, good morning to you as well, sir.
Good morning. I'm taking this market with some patience. Honestly, I have no idea exactly what
to expect. I do have some old levels down here. I have one below us at 544.60 and then I have one below us at 544.60, and then I have one right above us at 547.50.
I don't know exactly how accurate these levels are going to be,
considering it's been many months since we've been down here.
I took a billbreaker scalp on NQ. Sorry, guys.
You're good.
I'm just going to be going into today with some patience,
and if I do see an ideal setup, I will go for it.
But again, if I end up not trading today I'm not
gonna lose any sleep over it but I hope we can get some good trades in and you
know I hope that this market isn't too whipsaw I'm doing spy 548 calls individual
names 20 point gain in queue I sold half 400 per con Walmart's looking good names
that are green right now on the top of my watch
list a little more enthusiasm please ko coca-cola and then kr proger so watch some of these individual
names these names are green they are above previous day high they have been unaffected
kind of like everything else um that was obviously down massive mainly tech but these individual
names some of these are still holding green and looking good. So this could be where money can potentially be made. So make sure you're
keeping track of some of these names. Like Kroger is up 3% right now. You got KO is up 1.7%.
Coin, 172.50 call.
Let's do a little bit of homework in here. PEP, Pepsi, up 2.4% this morning.
Okay.
Honey, are you doing well?
Honey, how is she doing?
Is she doing well?
Whoa, big red candle, Kale.
What?
RKT is up like 4%.
LMT, Lockheed Martin, is up over 1%.
There definitely are some green names if you look around the market.
Who said big red candle in KO?
That's a big green candle.
It was a one-minute candle. I saw it like he big green candle. It was a one minute candle. I saw
it like he was talking about.
I was going to say, we're still green.
No, no. It was literally
one of those wick candles we saw the other day.
Oh, yeah.
I was like, what the fuck?
McDonald's is up almost 2%
as well.
T-Mobile up 2.75%.
Procter & Gamble's up 2%.
It looks like healthcare is actually doing decent.
You got J&J up 2.5%.
Tailing, stop-loss, hit-and-profit, NQ.
Nice trade, Maple.
What else we got?
A lot of defensive names.
Lockheed Martin's up 1.4%.
Yeah, you got Kraft Heinz, KHC, up 2.56% here.
Astrazeneca.
Ticker UNH, 540 call.
There you go.
There's one of the ones I was watching in the healthcare.
Astrazeneca's up 4.47%. Microsoft 370 put.
General Mills is up 3%.
Cereal's doing well.
Holy shit, what did you swing?
You're up $14,000 right now?
Let's fucking go your account's up 87 percent somebody's full port puts yesterday wow to be honest you didn't even really have to full port for this kind of yeah yeah
yeah because there's some people right now that see puts that swung overnight. I mean, they're up close to like 2,000%.
So, I mean, even the small swing on it.
KR is still trying to push.
KO, new high a day, going for 73 bucks here absolutely ripping
if you actually look at KO on the weekly it's a beautiful cup and handle breakout the top of the
resistance is 73 to 73 50 and it's coming up to it right now just look at that thing on the
on the weekly chart and it looks absolutely beautiful I took 72 calls
earlier this week I've already been stopped out but this was the setup I was
looking for it to go to and And it is looking very, very nice.
Holy shit.
Someone's account is up 555%. That's a full port.
Long and cute bill breaker.
I got it under the bill here.
We'll see if we can push back up to 20s, 30s.
Ticker LLY, 825 call.
All right.
25-point gain in Q, sold half, $500 per contract.
Tesla going for 275 yes I didn't get the previous low right here thank you I expect MQ to retest the high of last night so that's a one nine one
seven eight so if we can break through right where we rejected when maple was in
as long that first then that's the target and if we break through right where we rejected when Maple wasn't as long at first, then that's the target.
And if we break through that, the target is going to be where we started dumping yesterday.
Sorry.
Sorry.
Yeah, I know.
Hard to believe.
Sorry.
Holy shit.
Yeah, that's what she said.
Everyone that swung puts, I'm just watching.
The person's account is up fucking 200%.
Holy shit.
Look at Costa.
If 20 fails here, we likely see 70 to 80 is next.
figure mstr 310 call this person swung one two three four five put positions one two three four
Figure MSTR, 3-10 call.
apple put positions here we go their 70s met i'm up almost 80 points here 70 point gain nq that's
a 1400 bill you guys should have a trailing stop loss on this position. No one should let this turn red.
Costco's trying to go green.
Kroger just hit 70, still ripping.
KO just hit 70, still ripping. K.O. just hit 73.
Let's see what else is looking somewhat decent to lead the way.
Lockheed Martin's continuing.
FSLR, first solar, is up 4.5%.
This is actually going to squeeze to the upside on the daily
chart all right trailing stop hit there 40 points all out pepsi cola is up almost three percent
I think you just hit the low of yesterday
rejected
I think this is a Metallica day
I could play both songs multiple times here.
Watch this short spot here on Spying QQQ.
That's just a back test on Spying.
This MMK zone.
It's.R. apparently is up says G- yeah it's there you go first solar
particular M.O. $59 call and too long bill breaker scalp again 30 point gain in Q sold half Contract.
Take care.
SMCI.
$33 call.
All right.
Trailing stop loss hit.
Break even.
NQ. oh Thank you. Long Billbreaker Scalp again.
Catch. sketch Thank you. Oscar White Green
Apple new lows down 9.5%
Apple's almost at $200
Meta new lows
Amazon just made a new low Kroger is lying you go to the Kroger
Kroger all right where I'm from they put an S on the end of that Kroger's the
Kroger's why they do that in the Walmart's there's another one in world what's the door that people
add it as to there's another one I can't think of it right now
I know a lot of people that say dollar gentle
that's kind of like saying god bless you yeah god bless you it was always called sears wasn't it
yes man there's another one that people add i still have sears by the way there's like
oh really in my city yeah They shut them all down here.
I know.
Mexico's bankruptcy proof, but we have Radio Shack still.
What?
Yeah, I've posted pictures before.
Maybe I'll drive by today and take a little picture.
You got a Radio Shack?
It's multiple.
That's insane.
One of the malls down not far from my house
has a radio shack and a seer literally
next to each other.
Bustling with activity. Big lots?
I have a big lots, but they're actually
just having a liquidation sale because they're closing.
Yeah.
Didn't they file bankruptcy?
I know Hooters did.
We gotta save Hooters did. We got to save Hooters.
Costco.
New high a day here.
KO just made another new high.
I took my entry.
I took my entry in a spy.
548 calls.
What's right? I took my entry in a spy 548 calls What
48 548
hopefully I won't get stopped though hey M someone in the discord asking if you have a circuit city
Hopefully I won't get stopped oh
no I haven't seen a circuit city that was one of my favorite places though back in the day
right yeah circuit city was the spot that was uh the spot before like best buy was big
yeah circuit city was a shit
I used to go in there and like play
a little video games yeah look back corner yep all right go in there are the
car audio stuff was and just like the music on listen to the speakers
ticker uvxy 28 call
oh my god look at um look at cruise lines look at nLH on the weekly. Look at the turnaround.
For almost $30 down to $17.
I'm waiting for $544.60 on SPY, hopefully to go long there.
Again, I want to see how quickly we get there.
A couple of variables, but volume is looking crazy today.
volume is looking crazy today contracts are really expensive it's going to be a small size trade
Contracts are really expensive. It's going to be a small size trade.
i haven't even looked at the contracts to see if they were juiced up today i imagine so
oh check out the ladder it's three bucks you got the money
because that's going to determine if i'm taking a trade on the spy account
let's see
oh wow Let's see. Oh wow.
Oh Jesus Christ.
I would have to go $17 out of the money to take a trade on this knife. Thank you. Come on, Walmart.
Put the market on your back.
Yeah, I mean, retail's looking pretty good here.
I mean, Dollar General's looking good.
Dollar General is looking good.
Mexican President Scheinbaum,
there will be measures taken to mitigate the effect of tariffs
on German automakers in Mexico.
I also mentioned earlier,
she was like excited,
surprised that there wasn't anything really that hit Mexico more
I have a feeling
throughout the day we'll get
continued global responses
to yesterday
there's a nice pop there Mikey
been too long Bill Breaker Scout
man I should have just full ported freaking
Walmart Costco and Kroger this morning if anything yeah well I mean you could
say that any day well I don't know about Kroger but this is going to gain in Q sold half.
Up 6.3% on Spy.
Yay! Mikey, what take for you?
Today, 0 DTs.
And it's only 6% after that candle?
Wow.
6.5, yeah.
I know, right?
That's kind of weird.
Juiced contracts, man.
Look, I literally bought it
at the EMA113.
I don't get it.
Alright, 30 points here now.
I'm looking for a higher high.
10-minute CBC is bullish.
2-minute EMAs are bullish, but we are stuck at the London Orb low, so just be a little cautious here.
If we break over and claim the London Orb low, we likely see the London Orb high there at 125. Tesla 280 call.
Navidia, no fire day.
Coin,
our 172.50 calls are almost in the money ticker baba alibaba 130 calls
Ba-ba.
Ba-ba.
Here in the audience, make sure you check out all these speakers that came on this morning
they're here almost every single morning doing live trading with us no matter what color the
market is shout out to all of them check them out and all the different things that they do
across this app and other platforms SMCI New Ohio Day for those of the $33 calls with me almost in the money.
Take our RDDT 103 call.
Coming up at 10.
The ISM Manufacturing PMI 53 is the consensus So Fairling stop loss hit, NQ.
In profit.
Nice.
Also, I'm watching the time and cells on NQ,
and everything of size has been a sell.
Q's holding up stronger than Spy here.
I'm looking to actually go long on MNQ if it continues to hold right here.
Spy is rejecting the loan we made Monday at the moment. Yeah.
Just to let you guys know, I'm long
on NQ, MNQ,
Yeah.
I'll grab a few.
I'm looking at RTY like I want to short that.
Oh, yeah.
Fuck, I haven't played that in a while.
Small caps are getting brutalized.
Oh, shit. Thank you No, the discount retailer scene
Continued up to the open
On the money side
Dollar General TGS
Dollar General
Dollar General
I'm keeping my eyes on all the news
for everyone. I'll call out anything.
There hasn't been a whole lot.
I know Mikey listens to
Charlie as well.
We really haven't talked about much of anything,
but I have a feeling a lot of these
other countries will start
making some commentary
today, some pushback.
Yep.
Mexico's President Steinbaum is reiterating that the U.S. tariffs linked to the fentanyl and migration could drop to 12% from 25% with greater collaboration.
25% with greater collaboration.
It was interesting that yesterday,
Mexico and Canada were not really mentioned at all.
Neither were Russia and Ukraine in that presentation
of whatever that poster board was.
Did you guys notice, like,
couldn't even put it like an alphabetical order
order or like numerical order
or like numerical order?
it's just random
It's just random.
yeah it's
random based on
screws us the most
yeah but it wasn't even in order
of who screws us the most
that's what confused me
that would have been at least
made sense I don't know who ordered that, but that was interesting.
But there was famously some island down in the Antarctic area that has zero inhabitants that apparently is getting reciprocal tariffed.
So those damn penguins, they better pay out.
so they better pay out so just just for clarification purposes a lot of people
don't understand regarding the tariffs that were released last night from what so
so for example
Israel sent a
the day before they said that they're not going to be doing any tariffs against the US
hoping that the US will do the same
and they did not
they gave a 17% tariff on Israel
the reason for this is because Israel has a 17% VAT.
VAT, to most North Americans, is looked at as a sales tax.
But when you look into the actual definition of VAT, it is a sales tax per se, but it's also an import tax.
So if you have a VAT and you don't have import, you're going to get a duty.
End of story.
So their lawmakers have to adjust their VAT definition in order to have a 0% tariff.
Guys, I'll just take a starter on the SPY.
Coming up in about a minute, 70, I sent non-manufacturing PMI from March, expecting 53.
I'm not manufacturing PMI for March expecting 53.
Yeah, I didn't want to do that, but I grabbed some MNQ down there at 75, about 30 points here.
Very nice.
Still looking for higher.
20 seconds until that data comes out.
Yeah.
I wouldn't be surprised, honestly, if we chop today and then just kind of wait to see if the headlines continue to drop and maybe
that gives volatility candles but i mean the market to go almost nowhere i mean i think is a
decent probability as well they don't want it to oh
50.0 versus 53 on the isM 9 manufacturing PMI for March.
ISM services data came in lower.
50.8 versus 53.
The employment number came in very low as well.
No idea
No, no, also down.
Elected for cyber boost catalyst program to accelerate global growth inside cybersecurity in Singapore and he can get it out
Charlie's India I know India I all right. There's the I just got the notification I can read it now
all right i said 46.2 previous 53.9 forecast with 53 so it came in lower
mike you know charlie's on discord you ever hear the notification come through on his mic
yeah it cracks me up he's been leaving a hot mic a lot lately
yes especially what was it two two days ago? Two days ago, yeah.
Remember when he was having construction getting done?
Oh my god, dude.
Yeah, it felt like two years.
That was hilarious.
You'd hear like a circular saw
going off. You're like, dude, come on.
I'm trying to focus here.
I'm shorty.
Yes, two minute EMA risk.
IWM's about to make a new low.
IWM's almost at 52-week lows.
SMCI, $33 call in the money. With a book map has no resting orders anywhere inside. So FSLR should continue to have the activity new highs.
Walk to the standing of the room.
Well, you can see what they're rotating towards.
Staples, utilities.
Look at T-Mobile.
Look at Verizon.
ENPH, $62 call.
I was just about to say FSLR is, it was up three and a half 4% it's up seven now so watch
ENPH sympathy right there both of those names.
Coming up at 1030 natural gas storage.
A build up 27 BCF is the consensus.
SKYX, SKYX announcing U.S. manufacturing partnership
with prominent electronic manufacturer,
Profab Electronics at Sandy Kilo Yankee X-Ray.
Let's go, ES.
I want a lower low under 91, and then under that, the session low is at 80.
Yeah, I've got an extension down to 468 down there.
468 down there what's the isn't it like 770 on NQ or they like the firm that those things I did I
yeah I think I'm going to buy 267 around 760 maple because if you're on and I mentioned this
earlier in the space and you joined later if If you trade prop firms, please, please, please go make sure you pay attention to the rules.
If you get within on certain prop firms, if you get within 2% of a limit down,
that's 5% down across the board on the market, you are violating the rules.
Yes, I covered half. Sorry, Amp.
No, you're good.
But yeah, please be aware of the rules if you're trading prop firms as maple was uh his thought process there if you get down in that 760 770 range of nq that's a five
percent down that is uh that's where some prop firms will uh you off and you will violate the rules of the account.
Spy approaching pre-market low here. yes maple it's about 54 25 so i wouldn't want to get anywhere near that. Ooh, 5420. Oh, hey, we got $7 to the downside
still. I got a little room left. Oh, plenty of room. I'm just saying, if you get down
anywhere near that, like if you get down 46 or I mean, 5460, maybe 5440, probably start
keeping a close eye on it. Crazy market market right i mean it's it's really kind
of funny because you know going into the election you know not even retail i just feel like the
people who watch the news were so bullish going into this which is the trap time and time again
and now everyone's so fearful but this will be a a generational opportunity if you don't have, you know, a large long-term port or you're starting out or whatever it may be or DCAing, anything like that.
I know it sucks, you know, for retirement funds, and I really do feel bad for those funds.
But, you know, there's opportunity both up and down, guys.
Don't forget it.
I agree.
What does Mikey always say?
Don't be a bull.
Don't be a bear.
Be a motherfucking realist.
There it is.
I was like,
somebody's going to finish this for me.
Take her UVXY.
$28 calls in the money. Oh, or is that Metallica?
uh-oh or is that metallica
i did think we would get a little bit more of a pop there at the open with a bunch of like
the big money that's been short for a while taking some profit but it didn't last for very long so the activity new high cindy and charlie charlie tater
it's a hard knock life for spy Hey.
Vicks, new high of day. The dollar is dropping.
I think our RIVN 1250 call.
The 10-year hit 4.0.
Frank.
Frank may be busy. I don't know if he's
up here. I can't tell.
Frank, if you're up here, look at
10-year. Thank you. Wow, probabilities of rate cuts have gone way up. Thank you. Gracias. 20 point gain and or es excuse me i'm going to cover a quarter here that's a thousand dollar bill
20 point gain and or ES excuse me I'm gonna cover a quarter here that's a thousand dollar bill
dollar bill So, I just got one for the low. . Thank you. Even gold's getting sold today.
Oil's down 7%.
Yes, just took out the low from last night at the open
guys you shorting with me yes okay manage this trade please we just broke under the september 9th low a day we're right at the session low at 480 that was mentioning um if you don't have a
position don't fomo again you gotta wait for those pullback
entries okay oh last night got it so Thank you. I'm taking my last entry on the 548 PUDs ODTEs. Jody T's yes correct you BXY is our hedge Alright, trailing stop loss hit him profit there, ES, about 15 points. so Down 10% on spy.
RH is down 42%.
Jesus Christ.
The CEO on the
conference call yesterday was like
Yeah, I heard it.
Oh, shit.
Stammering, just like crapping down his leg
yeah i smelled that running down too Thank you. As Amir from the ECB is speaking right now, a couple headlines coming out of there.
Sparifs are largely factored into forecast. best by zone 16 percent We're sitting at 22.5 million volume on SPY already.
We're about 48 minutes into the trading day absolutely nuts and what's
going on with google i know under armor's making new 14 year lows google's trying to like hold it
up here the gooks yeah it's not going lower.
It just popped back up to the morning high of day at 930.
Dude, the Vol D is
disgusting.
NQ Short, Bill Breaker Scout.
So, NQ Short, Bill Breaker Scout so I am in
Spy Puts
two to three months
out right now
giving myself
room to add
again I do think
Spy Sees 520
this is kind of like So room to add again, I do think spice these to 520.
This is kind of like a little bit of a hedge-ish position due to obviously the long term port
taking a hit on days like this when the market is bleeding and I do think over time it does
go a little bit lower. So while the long term port takes a hit in buying months out of puts.
Health services green, consumer non durable still green everything else right red all right 15 point
oh 20 points all right I'm gonna take half off 20 point gain in Q 400 dollars per contract. Someone just said they bought the dip.
They just tagged me and said that.
Why? Yes, it is.
It feels like this thing's gonna accelerate. Gracias. . Gracias. Thank you. It is fighting to hold right here. Thank you. . all right here we go until that first hour we're up 35 points right now on the nq shorties. 10 and 2 are short, guys.
Holy shit.
Extreme Fears at 11?
Dude, I haven't seen it this low in forever.
Wait until you see it at 20.
And then short again.
Oh, here we go.
Here we go.
Beautiful.
Up 43 points on NQ.
Come on.
Rip off the bandage.
I know Q still hasn't got down to pre-market low or previous day low.
Spy is well below that.
For the listeners, guys, right?
Free sauce, okay? I trade every single day like driving a car.
10 and 2.
10-minute CBC for sentiment analysis.
2-minute EMAs for my
risk assessment okay if you pull up spy today go to the two minute chart okay
you should have a 9 and 20 EMA look at all the 9 and 20 EMA rejections we've
had and all the opportunities you've been given on scaling on a lower low or
micro lower low pivot break right right? Sailing stop loss hit there in profit.
President Macron is talking right now from France.
Au français s'il vous plaît.
Au chanté, NVIDIA, what do we call? Oh Shantae Nvidia one-way call
the little mess by 540 I'm down 12% 13% . GLD, our 290 calls are almost in the money.
NQ Short, bill breaker here again. Two minute 20 EMA risk area.
Jesus.
Ticker CNC.
Our 62.50 call swing is in the money.
Up 88%. Fuck, what a move on CNC look at CNC
oh wow that's a great Intel I'm PC searching heavy activity new highs for
you tell you it fuck you knew it I'm so mad I didn't call that out again that's
all the flow coming in and I'm like, what the fuck? GLD is about to flip green on the day right here. Nice recovery this morning.
INTC our $25 call swing for May 16th it's printing 10 seconds.
Look at that first hour
ticker c-e-l-h 36 call come on sky retempting the MA113
whoa Thank you. Oh Apple is about to make a new high a day. I'm sorry, you're still pouring out from the vanicine of chaos. so
ticker lul u 250 250 call april 4th so
Yay, I'm green on Spine!
By 0.1%.
Hey, what's up, guys?
Yo, what's up, up B does everybody feel liberated yet
so you're
liberated
debilitated
debilitated
I like that one.
Yay, I'm down 11% on Spy again.
Seven.
Fucking hell.
I'm in calls too, Mike.
Just a few minutes ago.
What?
Bill Breaker here on NQ.
25-point gain, covered half, $500 per contract. Thank you. .
. I take your HLL and increase it up to me. Here we go.
10 and 2 paying me right now.
I'm still looking for a break under the 80s. There's a lot of buyers there.
It's 30 points on NQ, $600 per contract now. Gracias. 50 points now on NQ. $1,000 bill being passed out for the free.
I took a BMAO, Victor Michael Alfa Romeo,
shooting his bike in activity, New Orleans, BMAO. Thank you. just checking some reports and stuff uh ADR so spies 14 day average move 7.94 right now um that could give us we've only filled 60% of that that means based on average daily range we could
see 537.4 on SPY on the bullish side it would be 552.14 so just because we're down a lot does not
mean we can't go down more and then obviously things flip around that doesn't mean that we
can't retrace back up, but it's
always nice to have the data on our side.
Check out that pinned tweet up top if you want to see exactly what I'm talking about.
Picker M.O. New Hile Gate.
Our $59 calls are almost in the money. Thank you. Gracias. I'm taking my entry and then the video one away calls but guys 70 points and to a $1,400 bill here.
I think we see lower low.
Look at the market structure, lower highs, lower lows, prices below VWAP, 10 minute EMAs
bearish.
I told you guys about 10 and 2, that most recent pop up was the next entry for the shorts.
We can't recognize green candles as bullish entries, nor can we recognize red candles
as short entries.
It has to be inverse.
You'll find yourself in a much better risk-to-reward environment. yeah boy
well done maple yo appreciate it bro
and you know i'm not saying for the listeners that there's not a long trade down here.
I just, you know, I trade my system.
That's all I see in the market.
If it does end up pushing, there should be a form of confirmation, right?
A 10 and 2 flip.
So 10 minute CBC flips bullish, 2 minute EMAs cross.
Just from what I'm seeing right now,
there's a reason why I've only hit the shorts.
I think QQQ, NQ wants these lows. Bro, cut off the prop firms.
Cut off the prop firms, we need 770.
Cut them off.
Cut them off. Cut em off!
I should have done QQQ instead of Spy. I took puts on the back test there.
QQQ is looking a lot better for this short. Here we go. Спасибо. Gracias. I Here we go.
Yes, possible double bottom.
NQ, possible double bottom. Thank you. Gracias. I took another trim here on spy put.
Oh my god, Casey.
Oh my god, dude.
I should have put you low for the back test.
$2,000 bill printed. I am the fan. The Q's was so much cleaner, but this was nice. There it is.
Alright, previous day low target just hit on QQQ.
It lines up where I wanted to trim Spy. It's making new lows.
I want to see if Spy can get to move down to 540 now.
But I'm going to move a stop up to entry now Gracias. well certain accelerate like i was
shut them off shut them off really i should exit before we hit that level.
Yeah, you probably don't want to get close.
Yeah, if I hit 790, I'll get all out.
That'll be another bill breaker.
I have a pivot point here at 805.
That's one pivot.
Just remove it from your chart, please.
No, it's right there.
No, no, no.
All right, like I was mentioning earlier, guys,
trading should be like driving, hands on 10-2,
10-minute CBC still short, 2-minute EMAs are bearish.
You want your entry within the 9-20 EMA.
I do this every day.
It's rinse and repeat.
So same would go for the long.
There wouldn't be a long trade until we get the 10-minute CBC to flip
and the 2-minute EMAs crossing and retesting.
Alright, I'm looking for a double bill breaker here,
and then I'll get all out, because we broke the one at 900.
If we break 800, I'll cut it all, because we're playing with fire here there you go bill breaker 120 point gain and Q I'm
all out
all right about three-quarter position on these spot puts here. . Thank you. There's 4.9.
And the video new lows.
Fair warning, right if you're trading prop on NQ, get out.
Okay, you do not want to risk losing the account. You want to risk, you know, the profits not counting.
770, we're 17 points away from it.
This is not financial advice, but
don't even risk it. This is is don't blow your account advice.
If you're on prop, please be out of any positions.
Yeah, guys.
We were five points away from it.
You better flatten.
We've made our money today.
We've done our job, right?
I want more money.
Shut it down.
Shut it down. Shut it down!
Shut it down! I'm about to exit.
770 hit.
It's over.
The party's over.
I don't know if it's worth anything, but I have a Fib extension here on both Spy and
yes. Yeah, I'm about to close here.
We're approaching the 540 target downside.
This was all I wanted for the small account challenge today.
One trade on SPY.
Just locked in some gains on it.
It's looking nice.
I got these contracts at 245.
They're about to hit 300 bucks. Actually, I'm not going to be greedy.
I'm going to close it directly here at $295 for $50 for a contract gain.
I'm going to close this position and be out. Have no position on a spot. Alright, I closed.
I'm out.
Have no position on SPY.
Except for those puts that are like two months out.
Those are actually...
I just checked them a second ago.
They're actually green by...
12%.
Let's go.
I'm up $300 on that position already.
Woo! Let's go. I'm up $300 on that position already. Welcome to the podcast. Thank you. All right, and Spy is about 10 cents away from that full target.
Beautiful, beautiful move.
I think you probably get a little bounce here.
Yeah, I wouldn't doubt it.
The long yes.
Banking and market update is complete. I want a long yes or so that is. This isn't very suave. . Gracias. ¡Gracias por ver el video! Música ¡Suscríbete al canal! Gracias. If you look at Valdi on the five minute there has not been a green candle all morning Valdi every single five minute candle since market open has been red red VIX is pushing up to $29 here it back tested its EMAs and continued to
hold spy back tested its EMAs and continued to reject so that was the
reason why I ended up taking the spy puts there at that 1030 back test hasn't really been confirmation of any kind of long just yet everything is still
going to the downside val d is a red waterfall it's at minus 227 million it's insane.
We are coming towards the end of the live trading portion here.
If there's any more call outs, thoughts, or anything from the crew, please go ahead and jump in and get those out now. all right spy just hit that to the penny, that target downside right there.
Yeah.
I can see a potential bounce right here.
Yeah.
Are you long?
Yes. Long yes. Thank you. Gracias. Thank you. I Thank you. Are we going to bounce, Spy?
I do see the Ostium team joining us here.
We're going to have a little conversation with them around trading and markets and everything else going on.
So go ahead and request up if you're a part of that next space.
And to our live traders, you're more than welcome to hang out with the discussion.
And if you've got any last-minute call-outs, I would love to hear what you guys are thinking for the rest of the day.
Maple, are you still around?
Yes, sir. We could see SPX hit around 53-64-03.
And then I think she bounces from there.
Yeah, for me, no more trading prop today.
All those accounts are locked.
I'm happy with it.
But I'll just push more so on the mindset that I want to influence you guys
for the listeners moving forward, right?
If you've hit your daily goal, you've made good money today,
please highly consider walking away.
There's no reason to force to rush trades.
Many times after a large move, it goes from a trend stage to a consolidation form of price
action.
So, it would be awful for you to be up, hit your daily goal, and then just chop around,
move sideways and kill both sides.
So if you've made money with us, you learn something walk away you can still have
screen time by you know sim trading paper trading whatever that may be you know lower stress but
you know strive for positive experiences in the market that will push your confidence to all-time
highs right and confidence in my opinion is much more important than profit because, yeah, some traders can get lucky with a home run, but can you confidently execute those trades?
And that's up to, you know, that own traders' decisions and journey along the way.
So good luck to you all.
Congratulations.
And I'll catch you guys tomorrow.
Sounds good.
Appreciate you, Maple.
Appreciate you, Mikey, Casey. Of course, you guys are welcome
to hang out for the convo that we're about to have right here with Ostium. I see we've got
the Ostium account up here as well as Flow Lady Trader joining. I'm excited to jump into this.
And obviously, from the trading side of things, things are a little bit interesting, especially
if you have a funded account on certain prop firms, you are no longer able to trade, but there are other ways that you
could still trade. So excited to jump into this conversation. Flo, how are you, sir?
Hey, how's it going? I'm doing pretty well.
Good day. We love you. I'm Markit.
Sorry.
On this post-liberation day Thursday.
Oops, sorry about that.
Did you guys hear me?
Yeah, we got you now.
Sorry, the squawker was going off there in Mikey's background.
Okay, yeah, no worries.
Yeah, it's been a crazy morning.
Obviously, you know, Spooz is down quite a bit.
You know, we got a pretty funny moment yesterday where Trump held up a chart and
the entire market just immediately kind of puked. So yeah, it's been a very interesting morning of
watching charts, managing trades. I was in a gold short last night. So yeah, took partials,
but still kind of in some of that. So yeah, just kind of managing, managing the situation right now for the most part. I hear that. Yeah, it's definitely interesting. And we've got some people joining up
here. So first off, I did send that Austin account, the co-host, we're excited to have you guys on.
I do want to give you a chance, Flo, and I don't know if anybody's behind that Austin account or
if we're doing it for the visibility, of course.
But Flo, I know you're on that team over there.
And I would love for you to give a little introduction to our audience about Ostium and what all they offer.
I know I've checked it out myself.
Great trading platform with all kinds of different options to trade different things.
But if you want to give a little introduction to that and to yourself for the audience, and then we can roll into some conversation here.
Yeah, so I mean, kind of very topical for these times.
So Ostium essentially is, you know, the goal is to allow people to trade any market, you know, all in one place.
So whether that's, you know, you want to kind of take a position on volatility, you know, let's say with what's going on today.
Maybe you wanted to get into short gold like I did.
Maybe you wanted to make a bet on the S and P or maybe you wanted to kind of
do all of that and, you know, kind of like, you know,
spread positions across all these different asset classes.
So Austin, essentially our goal is to bring everything on chain.
So, you know, again, going to try to enable you to trade commodities,
FX, indices, you know, even things like individual stocks.
So all through kind of like crypto rails. So permissionless, full transparency, you know, self custody.
So something, you know, pretty new to a lot of people who are kind of used to trading these TradFi assets.
You know, usually there's kind of a lot of red tape before you kind of like even are able to kind of onboard to a new brokerage, you know, showing, you know, whether that's like documentation, you know, having to
go through a sales rep, just kind of like all these different things that kind of create barriers
to people to actually go and trade these markets. So the main thing is, you know, with that is,
you know, it's going to allow people to capitalize on kind of these trends that are happening right
now. So whether, you know, macro economic, whether that's macro, whether that's kind of like the micro of the market,
you know, these kind of positional kind of plays, you know, we're trying to allow people to interact
with all these different things without having to, you know, go switch to a different broker,
a different exchange, and kind of manage their funds across, you know, potentially just all
these different kind of funnels. So that's kind of like the gist of it.
You know, again, I want to emphasize you onboard instantly.
There's nothing kind of preventing you.
If you have a crypto wallet, you can go trade gold, you know, silver,
you know, any sort of FX commodities.
Right now, you know, again, like SPX, NDX, so the SP500, the NASDAQ, all of that.
So, yeah, that's kind of what we are bringing to the table.
Yeah, and I would encourage you guys to, you know,
obviously follow our page, follow the Austin Labs page.
And yeah, we're shipping constantly right now,
a lot of new updates.
And yeah, if you want to stay tuned
with what we're kind of doing
and new asset classes that we're listing
and things like that, yeah, go ahead and follow them.
Absolutely, definitely follow that account. I'll get a tweet pinned up here in just a moment. and things like that, yeah, go ahead and follow him. Absolutely.
Definitely follow that account.
I'll get a tweet pinned up here in just a moment.
You can also go to ostium.io and check out the website.
I've been on this website many times, taking a look through it.
And one thing, Flo, that you mentioned there that I think is really neat that you guys
offer is the ability to trade multiple different assets, right?
So, I mean, what I've looked on here before, and you guys have is the ability to trade multiple different assets, right? So, I mean, what I've
looked on here before, and you guys have actually added some from the first time that I got to speak
with you guys a couple months ago, I believe. And I'm looking on here, you mentioned SPX.
Obviously, I see crypto names like Bitcoin, Ethereum, Solana. I see many currency pairs.
I see gold. I see copper, which has been going crazy lately. The Mexican
peso, which is something I know very well. I see the DAX, some global markets in here as well. So
really unique ability to be able to trade multiple assets in one spot. So Flo, let me ask you,
what are your thoughts around that? I mean, as far as you guys expanding, I know you
guys are adding more and more stuff, but the convenience there, what's the overall goal and
mission of Ostium as a trading platform? I think our goal really is to just allow people,
you know, from a crypto and kind of like financial perspective, just to allow people to
have a venue to take, again, take a position, even not only on the assets, but kind of on the macro and on the narrative itself.
So one like aspect that we had a kind of like preliminary version of it, it was very successful,
but we kind of wanted to revamp it, make it even more robust and have even more features is our
strategies product.
So part of that was to allow people to kind of, I guess the easiest way to explain it was to set limit orders that were based on events. So the goal is to allow people to kind of like, again,
trade these macro flows and trade off of these kind of macro events. So part of that was say,
like just to give a concrete example, is we kind of built it on a wrapper for poly market.
So one of the major pre-election kind of prediction markets was, you know, whether Trump was going to win the election.
Right. So kind of as a real world use case and like of how we wanted to apply the ability to kind of trade macro and trade these narratives is you could set a trigger where if the odds of Trump winning the election were over 70% or say over 80%, then you could trigger a Bitcoin long.
So Trump win goes up 80%, you know, trigger Bitcoin long, you know, for, you know, with 5,000 collateral at 25 X, et cetera.
So, so that kind of like illustrates, you know, kind of like the, the main goal is that we want to have people to be able to trade all these different asset classes and, and take, and take positions on them based off of the macro, which I think is just, you know,
just more and more lately we've been in the last few years,
we've been in kind of a macro regime.
Anyone who's kind of more of opinion, maybe this is a hot take,
but anyone who's kind of just looking at charts these days,
just looking at kind of the more just very dialed in things,
unless you're maybe a quant, you know, your algo trader,
it's a little bit different, but for the most part, um, narratives and, and the macro have become very, very important
for how you make your investment decisions over the last, you know, let's say five or six years.
So yeah, that's what we would like to allow people to do is just take positions, all these
kinds of different, um, events and, um, and macro kind of factors.
I love that rundown there, Flo,
and you kind of hit on the strategies.
That was one of the things that stuck out the most to me
when I first started looking into you guys.
The ability to basically set something that happens
based off probabilities and movements around those.
So, you know, the example of like the Fed changing interest rates,
if all of a sudden that pivots hard,
you can set a strategy that automatically shorts or long something you know a Bitcoin reserve I
remember that one recently as well if Bitcoin reserve was mentioned or created
or as the probabilities changed of that it could automatically you know long or
short I guess would be that but that in this case will long Bitcoin
automatically on that so that strategy piece that you guys have built into the platform,
I think is really neat as well.
So Flo, before we start going around to the panel,
I do want to kind of ask you,
obviously, I think the topic of the day, right?
The elephant in the room, the tariffs that happened yesterday,
markets are down a lot.
How are you treading and trading right now around these events going on? And are you using any
strategies right now personally? Or what's your approach? Are you kind of hands off until maybe
we get a little bit more clarity? What are your thoughts around the market right now?
So as far as the strategies, that's actually one of the reasons why we sunset the original product.
And we're working on making kind of like a more robust product that basically the goal is to allow people to take positions,
obviously not just kind of limited to whatever prediction markets are on Polymarket or any other sort of market,
but to take positions based off of, you know, the outcome of FOMC, like, you know, like you said,
the actual rate decision or the actual CPI numbers.
So yeah, the goal is eventually to kind of make it a more robust product that allows
you to kind of set triggers based off all of this type of macro data, Fed data, things
like that.
So as far as that goes, yeah, I am kind of just staying really nimble.
I've been just kind of macro bearish since early
to mid-December. I took kind of a month, the last month off of trading mostly and actually
just started kind of getting into the order books again yesterday. So good timing. Like I said,
I actually shorted gold, which was looking kind of sketchy there for a moment.
And then we had a nice kind of pullback there overnight.
But yeah, as far as the tariffs and everything goes, it kind of fits my suspicion.
A lot of people were, I think, very optimistic going into April 2nd,
thinking that this was going to be kind of the end of any
potential kind of like tariff nonsense, negotiation process, volatility kind of linked to that. But
my opinion the entire time was, yeah, we're not going to get clarity or what's expected. We're
going to get more volatility and more confusion. In my view from the very beginning is that this was building up
to the beginning of a volatility kind of event and an increase in volatility, not the end. So
yeah, I mean, to be quite honest with you, kind of fits into my kind of framework.
I would say, again, I hate, you know, kind of to even take a position there, but
with what Spooz is doing, the levels are now,
you know, around the 5400s, I'm inclined to start looking for longs, to be quite honest with you.
I think that it kind of smells like a capitulation event, you know, huge just market,
immediate market reaction based off of kind of just this kind of just veering off of expectations
of what people thought about the
tariffs. Like there was people who thought it was going to be kind of more sector defined,
maybe thought, and then people thought it was going to be more broad based. And unfortunately,
or, you know, maybe fortunately, depending on how you look at it, is that we got
broad based tariffs and kind of like sector specific, more narrow and targeted tariffs. So it's like we got the double whammy.
So yeah, I think that people should continue to stay cautious.
But after this capitulation event, after already being kind of, you know,
a lot of stuff kind of can beat down across the board.
I'm yeah, I'm looking now towards more seasonality and just kind of passive flows around this time.
And my, yeah, kind of just reiterate my inclination now
after this kind of big capitulation event is in the next few days,
kind of, yeah, maybe look at a more bullish positioning,
which I think will also coincide with rotation out of, let's say, gold.
So, yeah, my whole thesis is kind of based off of SPX forming bottom here, gold forming a top
and that kind of pair trade. Yeah, great thoughts, Flo. I always love having you on our spaces,
especially over on the Wolf Crypto spaces as well, where I've joined in several of those,
just general market discussions. Great mind here. Definitely make sure you give Flo a follow as well as the Ostium account up here. Flo, let me throw one more question at you,
and then we'll bring the panel into this a little bit and have some more discussion here. But I do
want to ask, and I think this is an important question for our listeners that may be interested
in Ostium. How does Ostium work as a trading platform? It's basically, is it self-custody?
How do I get funds there?
Instant deposit, withdrawal.
Tell me about some of those features as far as if I wanted to give Austium a try.
Gotcha.
Yeah.
We've gone through kind of a few different infrastructures over the life of the protocol.
But right now, yeah, it's fully self-custody.
You're trading
funds directly from your personal wallet. You're not depositing funds to trade. You're not depositing
funds into any kind of like separate account. Obviously, there is like a vault aspect, you know,
kind of with the LP pools where, you know, there is a deposit. But as far as trading goes, yeah,
you don't need to deposit anything into our protocol. Everything is through your wallet. And now actually we've, we've implemented similar,
um, onboarding flows to Polymarket. So if anybody's familiar with Polymarket, they
were one of the first people to kind of just have a really, really smooth onboarding flow that
allowed people who, you know, weren't necessarily crypto native, um, to kind of deposit money
directly from, you know, their centralized exchange.
So Kraken or Coinbase allows people to onboard through credit card.
So, you know, MasterCard, Visa, everything like that.
Or, you know, you can just fund it through another wallet and deposit that way.
So the goal as far as like how people could use Ostium is you can basically onboard or swap funds from any chain and a large number of tokens directly into USDC on Arbitrum, which is where we launched.
abstracted away in a way that it kind of just uh it doesn't matter what chain you're on because you
can you can basically start uh trading if you have funds on solana if you have funds you know
on arbitram if you have funds on euth mainnet if you have you know if you have bitcoin basically
yeah just if you have credit card just kind of allowing people just in any way that they choose
or whatever is comfortable for them um to onboard to the platform um and and let's say like for
example let's say someone
is more of a TradFi kind of native person and they don't have a crypto wallet. They could actually
go in, um, register via email. And we kind of would spin up, um, what's called a smart wallet
or EOA on the backend. And basically, you know, you could, you could trade by logging in through
email on kind of like a more web to web 2.5 ish um kind of uh basis so
yeah um any be able to trade and get your funds uh to your personal wall from any chain um and
and start trading immediately so that that's that's the goal and um um if like i said if
anybody's familiar with polymarket it's essentially just the same onboarding flow
um the same kind of partner that they have as well.
Yeah, absolutely. I love that. And I appreciate that rundown flow.
That was one of the things that also really caught my attention was the ability to get funds in there.
And it does seem like it's friendly to both DeFi and TradFi people.
For people that are looking to trade in different ways
or trade everything in one spot. I just think there's a lot of different unique advantages
here. So without further ado, I'm going to bring in this great panel that I have into the conversation
here. And I have a hand up already from the guy with the best intro on all of spaces. So Mr.
Metazette, this is going straight over to you first and
then we'll continue around hey what's up thanks wolf is always a pleasure to be here and i hope
everyone's awake and ready out there for some great conversation today uh and with that i just
want to send a mighty gmg ag and everybody how y'all doing if you don't know my name is zett
aka meta zettx if you met me
You met is that and you're at the one place you need to be here in the space
Wolf that's right always with the best alpha and the best info and i'm excited to talk to ostium
Um, you know everything you're talking about wolf is uh, just so on amp and uh on point as far as how it's
Uh, you know accessible to both trad and defy and you know for
me personally i'm the type of person i need like easy fisher price buttons like easy buttons you
know and uh so i love the the the way ostium is laid out and how i can trade everything kind of
my first question is um with everything going on on a macro scale, like you were talking macro, when I go into Osseum app, when I'm not traveling, when I'm not jet setting to Portugal or Turkey or something, it says that I'm restricted.
Do you see any changes coming down the pipeline with geofencing and that sort of thing?
As far as geofencing, yeah, we've talked to kind of,
you know, legal. We've kind of been advised until there is a little bit more regulatory clarity to
just kind of like keep that, keep geofencing up. We have, you know, we have inquired as kind of
like the status on that and where, you know, kind of like regulatory, um, kind of the direction is. Um, so yeah, I mean, we're,
we ideally, obviously, you know, we would like to be able to open up awesome to be able to trade,
you know, anyone, anywhere as well. Um, you know, I think that, you know, trade everything also
trade from anywhere, you know, trade from anywhere as well. It would be a great thing to kind of like
be a part of the platform. Um, but yeah, um, there's, there's been protocols
in the past that kind of have skated these lines. I will say this is pre kind of Trump administration.
So, you know, the kind of the playing field is a little bit different now. Um, but for the most
part, yeah, um, it's led people to, you know, getting a little bit of trouble in the past when
they, when they kind of towed that line a little bit. Um, there was, uh, back in the day, obviously they had their
own problems cause they were listed on a Luna Terra, like Luna, but it was like mirror protocol.
Um, they got sued by the CFTC out of existence and yeah, there's just been a couple, a couple
instances in the past under previous kind of regimes or administrations where it just, uh,
it's a, it's a bit of a
risk. I would say actually it's still a lot of a risk just without having more clarity. So yeah,
to answer your question, unfortunately, I can't give any sort of real clarity on like when that
kind of stuff is going to change. But for now, yeah, unfortunately, we have to maintain some
level of geofencing just to kind of maintain kind of regulatory compliance.
Got it. Yeah, understand.
And, you know, of course, not financial advice, DYOR and all that good stuff.
But it appears with Trump in place, we can just do whatever we want.
So, you know, I look forward to when we get some changes like that.
But in the meantime, you can catch me in Mexico. Last my last kind of quick question is what can you tell me?
Yeah, that's right. I'm going to be there in short order. Believe that. Real quick. My last question is, what can you tell me about these points? And what are these points kind of end up turning into maybe possibly down the line i can't say too much about points um you know i will say that they're linked
to kind of the ostium platform ostium ecosystem uh that we're building out so they obviously will
have relevance like within um the trading platform itself um and within kind of like you know our
vault and it'll be all integrated into kind of into all the aspects and features of our protocol,
including strategies and things like that.
So I can't tell you the end results of that, but if you were to go look at the points page,
there's a couple of different components.
So you gain points for a few different activities, primarily, again, trading, you know, obviously trading platform, the most important thing for us to kind of like track and incentivize is volume, right? So yeah, the one of the main ways is just going to be to trade on the platform. We're not going to punish or reward you for, you know, your P&L. So, you know, don't worry about that. If, you know. Whether good trader, bad trader, that you're testing out
the protocol. That's the original ethos of the crypto space. And basically, points is the way
that we're rewarding people for testing out the protocol. So another aspect would be, for example,
the vault. So if you were to provide collateral, provide USDC to the vault,
which is the pool that takes
kind of the other side of the trades
in an Oracle-based pool model,
then you would actually gain points for that as well.
And then the other aspect is referrals.
So obviously bringing people to the protocol,
those people that you refer
and you bring in doing volume,
that's going to benefit
you in as far as the points program goes as well. So I'd say like the three, again,
just kind of reiterate the three main things, trading, referring other traders, and then
providing liquidity essentially to our vault is the three main ways. I won't reveal too much
more than that, just because, you know, we want people to kind of game, you know, we want people to theory craft,
you know, we want,
we want the experience to not just be kind of like really just immediately
formulaic.
People just start doing all the same actions and it gets just really algo
farmed and, and sibbled.
We want to leave it a little bit open so that people can experiment,
trade different products, different assets, you know, again, like whether that's gold open so that people can experiment, trade different products,
different assets, you know, again, like whether that's gold, whether that's the yen, whether
that's stock indices, et cetera.
Yeah.
We want people to kind of play around with it, see, you know, get the feedback loop of
like their score on the leaderboard and then be like, oh, like this activity, it seems
like I got more points this week.
Maybe I should try more of this activity and yeah just overall kind of we want to um gamify it make it
um to a level where it's not just very uh formulaic at first it's people want to theory
craft they want to you know dm each other talk to each other like hey i noticed like i traded this
and i noticed i got more points this week and yeah just kind of create that whole feedback loop
if that makes sense yeah definitely great stuff and i'm glad you're not um rewarding based off performance uh for me
personally but uh no that's awesome love to see it and it looks like it just started right like
we're in the first week or something right yeah everything is brand new we've been in the middle
of a bunch of big announcements so uh we just launched our v2 which is you know introduced like just one click trading just kind of like a lot of ui ux
improvements um some new assets one one thing real quick i wanted to actually shout out is the wolf
kind of community uh the wolf team has been kind of very influential um as far as like what we've
actually listed like as far as you know the mexican peso, like as far as, you know, the Mexican peso, the CAD, and just following all, you know,
the tariff narratives and stuff.
And like those mentioned is, you know,
when we first kind of like started
and did our first bases with Wolf,
you know, we, I think we might've just listed the S&P 500.
I don't think we might've even had NASDAQ yet.
So it's like, yeah, we basically, you know,
thanks to the whole community.
And yeah, if you guys, I just want to throw it out there, you know continue to have to continue to have feedback suggestions
Um, you know, we'd love to we'd love to hear it send us a dm
Um, and you know if your suggestions are good, you know
This asset is something that you know
Does volume and that we think would be a good addition to the protocol, you know, we'll list it. Um
So yeah
Thank you. Well, that's awesome
And with that I see the incredible lady trader's hand so i
will throw over to lady trader thank you so much zed and i did have a question around the points
as well so thank you for for taking the lead on that one uh that's great i was actually very
excited to see those um the point system that you guys have released ostium uh i can kind of
speculate where it would lead to and i'm kind of excited about that just kind of seeing how things
go in crypto world um and web 3 so and then also another thing that you mentioned that really i
liked was um the way that you make things easy for even web 2 to to be onboarded right because
there is a big crowd out there that would like to
use a decentralized platform, but they may not understand how the wallets work. They may not
understand the DeFi sector very well. And so thank you for, you know, for keeping that in mind as
well. And I'm seeing a lot of companies that are very successful when they have both models, right?
They're not ignoring the Web2 side of things. They are bringing it along.
And then of course, they are talking to the Web 3 crowd
and they're building in Web 3.
So as long as you manage those two, I think that's great.
I do want to ask you, I know you mentioned
about different strategies based on market conditions
and automating some of that.
Is there a way, or do you have anything on the roadmap to
kind of lounge where people can follow, let's say, successful traders and auto copy trade? You know,
that's like one area where I think there is a lot of room for user adoption and growth because
people love that. And, you know, especially in Web3, we don't have it a whole lot. And so I think that would be pretty phenomenal
if you guys were to offer something like this.
Right. Yeah.
Part of the new strategies kind of product
that we're working on
actually has somewhat of a social aspect
and for the ability of, you know,
whether it's yourself, whether it's me,
whether it's another trader,
you would actually be able to kind of craft
and construct their own ideas and their own strategy. You know, again, whether that's
short the market based on a rate decision, whether that's long the market based on a rate decision,
or just whatever that might be. Yeah, eventually, we want to be able to give traders, you know,
people the ability to kind of construct that strategy, share it, and then have somebody else
kind of grab that and be like,
hey, this seems like a strategy that I would want to follow and kind of just go follow that
strategy directly from kind of the link or that you share. So yeah, the eventual goal is to open
the product up and have people just be able to kind of, yeah, make their own strategies, share those with friends and have those friends
follow along in that strategy and in that trade.
So absolutely, if you've kind of like kind of nailed it,
that is the eventual goal of the strategies product itself.
One of the things that you,
and then one thing you said before that I kind of wanted to touch on briefly
is, yeah, the web two kind of web to touch on briefly is, yeah, the Web 2, kind of Web 2.5
people, you know, obviously that is the much larger market than the crypto native market. So
like you also mentioned, there's a lot of other kind of companies, protocols kind of in crypto
that are kind of build, might be trying to build out a similar product, but they're not catering
it as much to kind of that Web 2, Web 2.5 crowd. They think, you know, it's more so the thesis is more so, you know, we have crypto
people want to trade, might want to trade TradFi assets. And we kind of look at it from kind of
just multi-directional kind of ways where there's crypto people who might want to trade, you know,
or crypto native people who might want to trade all these different kind of like
more traditional assets.
There's also just the whole wide array
of people from the TradFi world
who also want to trade crypto,
you know, as kind of just
a high volume asset class,
but just who also have all these other
kind of like barriers
with traditional brokerages
and other things that makes them want
to use a platform like Ostium
that's kind of, again, permissionless
and has like full transparency
that you don't see with a lot of,
you know, let's say traditional CFD,
traditional futures brokers.
So it's kind of, yeah,
we see it coming from two directions,
the TradFi to on-chain side
and then the on-chain to TradFi side.
Whereas, yeah, I think a lot of kind of other players
out there in the market
are kind of more so looking at things from one or the other direction, if that makes sense.
That's a very good point, Flo. I agree with you 100%. It's not really an area that we focus on
a whole lot where, you know, when we are in crypto, there are a lot of people who want to go
to TradFi sector. They want to be able to trade some of the assets that are available.
And there are also a lot of people globally who want to trade those assets and they cannot do
that. And so I think that's an important thing to remember. And then of course, you expect the
TradFi people to kind of get advanced and get into some of these other plays, get into crypto,
get into blockchain, get into more AI focused plays, even in the TradFi markets.
And so definitely I can kind of relate with you there.
So when we were talking about the strategies
and kind of allowing people to automate those,
that's a good one.
But really what I was wondering was,
let's say I'm Lady Trader Raw.
I decide that I want to do my own,
you know, just basically just, I just want to trade.
I don't have a specific strategy that I'm following.
Let's say, right, I obviously I have a ton of strategies, but let's say I just want to trade, right, based on technicals.
And so I basically take a trade, you know, whether it's a long or a short, or maybe it's on a certain, you know, commodity or maybe a certain equity play.
it's on a certain you know commodity or maybe a certain equity play and then i have a community
that wants to copy my trades exactly as it is it doesn't need to be necessarily on a you know on a
specific strategy but let's say they're like hey you know what um and it does i get a lot of requests
like this in the past i i hate i hate that like i don't want to be the person who just gives out
calls or you know wants to be copy traded but there are a lot of don't want to be the person who just gives out calls or wants to be copy traded.
But there are a lot of traders who want to do that, who want to get into that.
And they do it on Bybit. They do it on some other platforms that are out there.
And basically what happens is every time somebody takes a trade, their community automatically takes the same trade because they could register for that.
They want to copy trade.
And so do you have any functionality like this already, or are you going to be accommodating those people?
We've looked into it.
So obviously there's a couple different kind of methods and other protocols
we've used.
Like anybody who's familiar with the HL, for example, Vaults,
that's one thing that we've considered, you know, kind of looked at partners, but we haven't settled on externally or people to, you know, deposit
into like a pool. And then that pool follows, you know, somebody's trades and kind of like
shares in the profits. So yeah, I mean, we've looked at kind of like different implementations
of that, but no, no current plans to add that to the product. I think that we're really focused on kind of like
making the best strategies product, which is, you know, has a little bit different
of a functionality, you know, as opposed to just copy trading or, you know, copying the person,
it's like copying like, yeah, their strategy or more so their method of trading. So one thing I
didn't mention before is that we also want to add technical aspects to that.
So one thing that we, you know, in the future,
just kind of give a hypothetical is, you know,
just, and I'll use the old example for,
is, you know, Trump win over 80% long
and then close the trade when, you know,
15 minute RSI is over 75.
So it's like, I think that just kind of like the way with our protocol and like the kind of
just the ethos, the mindset of what we're doing.
I think that at least initially we'll probably focus most of our energy on
this, like on this,
the idea of people being able to share a strategy as opposed to just kind of
like pure copy trading. Again, it's,
it totally could be considered later
if it's all just based off of demand.
Again, we're very open to community
and user suggestions and feedback.
So if enough users want it,
if enough users ask for it,
you're going to see it.
But right now I would say just kind of like
that whole idea of people sharing their strategy
and following strategies
as opposed to following traders
is I think kind of like the direction
where we're trying to move things.
Also, I'm going to jump in here.
Thanks, Chris, for holding on the fort until now.
I'm here now to answer some additional questions.
And Chris has done an awesome job.
I want to just add one more thing
just on the strategies question
and on sort of copy trading.
He's 100% correct.
And what I would add to it is we think that the next evolution of copy trading is not copying people, it's copying strategies.
Because the first evolution of copy trading through platforms like eToro, for instance, were about there's a person that you want to follow.
You want to put money and copy what they're doing. Or if you're looking at the hyperliquid vaults, same deal. You put capital into a vault and that person then trades
on your behalf and they can trade whatever. They basically have full discretion to go and
you give them basically full ownership, your capital, you put the vault and you trust that
they're going to do something that you think is interesting because you want to follow them.
But in our view, what people really want is inspiration for what they should be trading
strategies that they find a take on the markets
that somebody that they trust has endorsed, and then the ability to go and follow that specific
take on the markets. But not necessarily, in some cases, yes, but not necessarily did a wholesale
follow every single thing that another person does. Perhaps, you know, you like Flo's take on copper and you like Lady Trader's take on, you know, I don't know,
semis, you might want to combine those and you might want to treat those differently. And you
don't want to just allocate wholesale to everything that they're doing. So this is our view, like,
this is what I think is the future of copy trading. And it's obviously very clear that,
you know, social trading, some social component built into trading is generally the future that's
been proven now through a lot of different products, also Telegram bots, etc. All those Telegram bots took off when
they introduced copy trading. But our vision is to do that through strategies. So you can imagine
ultimately that the form factor of the strategies product later on will be an explore page where you
can basically shop different strategies and ultimately attach your name to them. So if you
want to set strategies, if you have, maybe you have a newsletter and you had like three big takes in the market for this
week, you can go and set your own strategies for those three big takes on the market and other
people can follow those strategies and sort of, you know, make money on those or, well, depending
on how your strategy does. But yeah, that's, it's sort of a general, part of a general view on where
we think copy trading is going, that it's strategy and individual strategy
based rather than entirely person based.
And that's what the product will work like.
So something we're working on, we have a ton of stuff on the docket.
I don't know if you guys have been following, but we've been pushing relentlessly.
So this is one other thing on the docket, but there's a lot more coming to down the line.
Thank you so much, Keldula.
And those are all the questions I had today.
I know we have quite a few speakers on the panel.
So back to you, Amp. Yeah, thank you so much, Calidora. And those are all the questions I had today. I know we have quite a few speakers on the panel. So back to you, Amp. Yeah, thank you so much to you, Lady Trader. Glad that Calidora could join us up here. Great. Another great mind, her and Flo, the whole Ostium team. Make sure you
give them a follow and check it out. I did kind of tweet up top if you want to check that out. It is
pretty interesting. It does highlight the different things that you can trade over there. Also has a link right to the website. There's also a great blog that they put
out with some trade ideas. So definitely check that stuff out. And I do want to hit the rest of
the panel and see what other questions or thoughts we may have. Tropic, let me bring you in next and
see what you have for the Ostium team or any thoughts you have around the conversation.
Awesome. As usual, it's always great to be here with you guys.
Love the platform, everything that you guys are building. And I guess during these times,
like when it's absolutely crazy, like we've seen in the last 24 hours or so,
does volume tend to spike on the platform or does it like level off? I was just wondering curiosity.
Yes.
I mean, to be honest,
we've also just had an overnight.
We've been waiting for our like,
I mean, we've just been iterating for months and months and months.
And that's typically works this way in products.
You know, you have something that takes off overnight.
We've literally had a parabolic growth moment
in the last three days.
If for any of you guys who've been tracking the stats,
we've had the new user number.
It looks like a, like a God candle.
It's unbelievable.
So, and the timing has also just been absolutely incredible.
I mean, stuff going on in the market sucks,
but the timing has been really excellent for us
with all these macro events.
Like, it truly could not be better.
I mean, April 2nd, having, yeah,
the platform available and growing
and name spreading, like word spreading very, very quickly around the tariffs has been ideal.
So yes, the answer is volatility and activity 100% spikes around these sorts of events.
And trading, we just crossed a billion in trading volume in the last few hours, by the way.
We have been having more new users in the last couple of hours repeatedly over the last several days than during any given month prior in the protocol.
So growing at a parabolic rate.
Yeah.
Congratulations.
That's really cool to see. And obviously, that's good news for everyone that, you know, the platform is picking up stride. But with that, you know, seeing that so many new users are coming on and like the flood of capital, how does it manage or how does the platform, I would say say manage an increase of flood. Let's just say, I don't know, a few tens of millions of dollars just flows into one particular asset all at once.
Is it able to keep up with everything in real time, seeing that, you know, there's obviously the on-chain stuff and then the market stuff in general?
So is there any worries for any user that just, I don't know, wants to follow the herd into some sort of asset? Yeah, this is a great question. So there are
caps on open interest. So the way the system works is rather than having, let's say, market
making liquidity on each individual asset, there is a global pool of USDC that goes and backs all
of the different assets that we have on the platform. So open interest, meaning the amount
of maximum notional exposure you can take on an asset is reallocated, like can be
reallocated very dynamically, very easily. So for instance, if there's a ton of demand, as you said,
let's say tens of millions of dollars of notional open interest are flowing into euro, but there's
no interest in GBP, like that open interest can be dynamically reallocated quite easily.
Obviously with the condition that for risk management purposes and, you know, just for
general directional risk on the poolside, there should never be a single asset that
represents more than like 25% or so of the open interest.
So the answer is there is some, you know, delicate management, which our risk partner
chaos labs handles and advises on and they track all this stuff.
They have real-time metrics and they reallocate everything dynamically,
but it's quite flexible.
The system is quite flexible to accommodate what people actually want to trade
in real time with the condition that obviously, like, there are certain caps.
The entire protocol can't just be, you know, a Euro-USD trade
that would represent too much risk on a single asset.
Really cool. So that's cool because that was one thing I was wondering about even the last time we spoke.
And that was on the list of things that I wanted to ask because that was up there.
But so many other questions were coming in. I was like, you know what, let me just let this flow, see how it goes.
goes but i still had that from last time so that's really cool to know um i guess the other thing too
But I still had that from last time. So that's really cool to know.
is um is there any particular asset that you're just so surprised that like the interest is
pushing towards that instead of everything because i know you initially launched with a set
amount and you're expanding that um was there any area that like wow we didn't expect it to
have so much area or attention to that particular asset or particular stock or maybe i don't know
whatever it is because there's so many things on this is a great question i mean i would say
it's kind of depends at what point you're indicating surprise i guess like
this isn't surprising at all given what's been going on in gold but like the interest in gold
has just i mean insanely skyrocketed over the last couple of weeks we went from like
there being not that many trades on gold to gold being, like, by far the
most traded asset on the platform over the last couple of weeks with the most open interest,
and people holding really massive positions, like, positions that are millions of dollars in size
for days or weeks at a time. Is it that surprising? You know, not really, I guess,
given that gold has been ripping.
In terms of, I do actually see a lot of people talk about copper.
A funny thing on copper is people are never opening big positions.
Like, the open interest is very rarely full on copper, and we don't have much open interest available.
But people are always bringing up copper.
I think people like to take, like, small copper positions as a hedge.
That's probably been maybe more of a surprise.
Like, you know, usually when you see demand for an asset it just means that there's like when people talk about the asset a lot they're also trading it a lot this is the case for gold but people do seem to talk
a lot about copper and then take small positions uh but not like overwhelming no one has like a
massive position on copper just lots of small ones they they tend to mention it a lot uh maybe that
one's been surprising the other ones are really really, I mean, it's incredible.
People are mostly just following macro.
So like if people are talking,
if the S&P is getting clobbered as it is right now,
like everyone's trading the S&P.
If gold is ripping, everyone's trading gold.
It's very, very dependent on,
you could probably infer what's doing the most volume
just by looking at your like Twitter timeline
and seeing what the trending assets are.
Pretty cool. Yeah, I did not expect that one. I guess copper is one of those things that's really cool to speak about. But yeah, it's less, it's less normally, I think on the copper side,
people are just trading it is based on like GDP expectations. But it's more, it's perhaps are more
esoteric users, like less of the ones that are following. It's like copper is kind of like the one asset that's the exception to the rule of like, you know, what people are trading
based on what people are talking about on Twitter. People are just not, it's not as trending of an
asset, but there's always a few people who are hedging some sorts of positions with copper.
Probably, you know, expectations are growth. Really cool. Well, there's other people on
the panel that pass it, but i would say that it kind
of makes sense though because at the end of the day you know um electrical wires aren't going away
anytime soon so hey um i can see where they're coming from it's kind of uh recession proof in
that sense um it's a different play than gold obviously but it's really interesting i just
didn't expect to hear that one yeah copper is generally seen as like a good indicator for
sort of like gdp so I think people are betting indirectly.
They might be hedging S&P longs or something like that.
It's a business cycle indicator, too.
People are looking at things like ISM and stuff a lot.
I will say that copper, too, is just a tariff thing.
There's just been a lot of interest and tariff front running there.
So yeah, i would agree um it's something that people like to talk about as just like a general business
broad like business cycle indicator um like you said traded off gdp expectations and kind of like
production numbers and things like that but yeah i would definitely say a lot of recent interest is tariff-related.
Great thoughts there.
Appreciate all of that traffic.
And I do want to see if anybody else on the panel up here has any questions.
Let's go over to Lucas.
Lucas, how are you?
Great to have you on the spaces again.
Wanted to bring you into the conversation.
Yeah, thanks for having me.
I find this conversation interesting,
but I also start to, you know,
from a, I look at a market from like all points of view, like someone just comes into the space
and they don't know like half the stuff you guys are talking about. Let's just pretend like they're
entry level where they want to get into, they know the word defy, they know the term RWAs, right?
Real world assets. And I'm wondering like, maybe you could identify like exactly what you guys do
in like 30 seconds or less, right? To those people that are in this space going, what in the world are these people talking about?
And then another one is like, who is your biggest competitor and like what sets you apart from that?
I mean, I'm assuming you guys have done plenty of SWOT analysis and things like that.
Just in case anybody doesn't know what SWOT analysis is strength, weakness,
you know, opportunity and threat. So it's something you do in business in order to find out like who your competitors are, where you, where you're good, where your weaknesses are, stuff like that.
So I'm wondering like the two questions. So like basically 30 seconds or less, like what you guys
do in a really simplified format, explaining to those people that are here and also keeping it for a record of like,
someone wants to come back and listen to this.
And like, who are your biggest competitors
and what do you guys do differently?
Yeah, this is a great question.
So I'll answer your question in two ways
because the value prop that we offer
for somebody who's on chain today
and has most of their money in a wallet
or likes to trade from a wallet
is different from the ultimate value prop towards someone who's not really crypto native, not really doing stuff on chain,
but is using a traditional broker. So I'll just tell you both. So the value prop for somebody
who's on chain today is, hey, you have your money in a wallet. You want to trade other stuff around
these macro events. You'd like to punt on the S&P or on gold. And it's a complete pin in the
ass where you have to rebalance the money that you have between your wallet where you're trading crypto stuff
and your traditional broker because it takes days to settle and clear
do everything from your wallet we are the only place anywhere on chain
if you have stable coins that you can long and short with some amount of leverage the S&P
Nasdaq FTSE you know gold oil etc the. So that's the, there the value prop is very
clear. If you want to do anything non-crypto related from your crypto wallet, we're the only
place to do it. For the non-crypto native user today, so somebody who's using, let's say, an
eToro or an IB is on their traditional broker, the value prop is different because they're not
coming from the vantage point of they have money in their wallet and they want to trade other stuff.
Those places that you're currently trading on are black boxes.
There is no transparency when it comes to liquidity.
Liquidity can dry up on an asset without you getting any warning.
You won't know.
They have a sort of vested interest in tipping the scales in their own favor against you
because in most cases they are the principal counterparty.
The broker is the principal counterparty.
And they have the full ability to do so.
So they can block or slow down withdrawals.
They can forcibly take profit you at a different price if your position triggers their risk models.
And the deposits and withdrawals can take days because they have a pretty manual system for doing so.
Use us.
We're completely transparent.
You can track every single transaction.
We don't have the ability.
We're, like, credibly neutral.
We don't have the ability to tip the scales in, you know, our favor.
We can't treat one position differently than another position,
and deposits and withdrawals are instant.
They can occur in seconds rather than days.
The signup is immediate,
and you can always
withdraw at any point from the platform.
So those are the two different value props
to those different audiences.
I hope that makes sense.
The one last thing is just on competitors.
There's, I know this is probably a super annoying answer.
I wouldn't, depending on how you define it,
I wouldn't say we have direct competitors,
because we're the only ones
at the Venn diagram. And I'm sure this, assuming we're succeeding, certainly we won't be the only
one soon. I think within months, there'll be more people at this exact intersection of the Venn
diagram. But if you're looking at the traditional markets, yes, our competitors are these traditional
FX brokers like eToro or Plus500 or IG, but none of them are settled on a blockchain.
You can't connect with a wallet and they don't have all these specific things that are our value prop.
And then if you're looking at the crypto world, there's nowhere, there's no other perpetuals decks where you can trade a lot of the assets that we offer.
So we're kind of sitting at a unique intersection if you include like a if you consider the space like what we're doing to be this like wider definition
then yeah the competitors are on chain people like hyperliquid GMX you know
DYDX and off-chain people like eToro plus 500 IG but we're the only ones
currently sitting at this intersection of this market I know that won't be true
in in pretty short order if we're succeeding here but yeah and for now
we are yeah that's uh that's good and it's good to be obviously ahead of the curve so you can have
like a you know a four to six month head start at least if not you know 12 months because people
are looking the other way or like watching the markets rather than actually paying attention to
building products so that definitely makes sense um yeah we've also been talking about this for
literally like more than three years at this point.
Like we've, and we've been building for a very long time, but the vast majority, like 90% of the time that we've been building has been like, you know, toiling in darkness.
No one really knowing what we're doing, but we've had the same thesis for a very, very long time.
And we had iterations of the product that really didn't work.
Like we had a first version on testnet like a year and a half ago that we completely sunset, re-bid all of our infrastructure in house, redeployed six months later, had
a testnet that had all sorts of issues that ran for months. Like, I mean, we're on private
and we've just like, yeah, we've been, we've been through the ringer. We've been through
a lot of different versions of the product. So I would say it's not just like, you know,
we're a few months ahead because we're already have a live product and then other people
will, you know, launch their version of a live product there's like there's truly there's no replacement
for having had a thesis for a very long time and iterated on it and having had so many different
versions that have failed the learnings that you get from that yes I suppose you could copy the
current version of the product but there's some level of product intuition that you build that
I think is like truly irreplaceable by having had versions that didn't work and iterated on it.
So I would add on that as well.
Not just, you know, just to toot our own horn, but I that is true.
I think that if anything, like that's our own secret.
We've just iterated a ton and we've had this same thesis for truly years and just been too early or implemented it poorly in the past.
Well, that's a huge benefit right there. Just admitting that you guys don't know everything.
That's actually a huge, huge positive in my book, at least. So congrats. And you guys.
Yeah, I would just say, I mean, if I had to like, you know, make my case, I'd say like,
I, the only thing I know we can do better than other people is we can learn really quickly.
So that's the only thing. The only thing that matters is your growth curve
and your speed of learning.
And that's like the number one thing that we index on.
And I think that's the thing
that we're really, really good at.
So it's more, yeah, it's that,
I know we've already learned a ton
and we learned a ton very quickly.
And at all these conversations, talking to users,
getting on calls with them, building your feedback,
taking your requests, like everything is towards the one goal of making the product better and learning how to make
the product better from you guys as quickly as possible.
Beautiful stuff.
Ani, we've got about three minutes to the top of the hour.
Wanted to give you a chance to sneak in a question here.
Awesome.
Oh my God.
Everybody asks all the great, great questions.
Luke, it's awesome to see you and everybody else here. I just, I want to kind of just end it with like
a casual question. I noticed that you guys take a lot of user feedback and change your platform
based on that. I was, I kind of just want to know if there was anything unexpected that you guys
got as like a user feedback that made you kind of think on a different level about the platform.
Oh my God. so many times.
Yeah, so much.
Okay, where do I even start?
Okay, one example would be the way that we used to show the fees.
You get used to, when you note your product in and out,
you get used to a certain way of displaying your product
and you don't notice that certain things might be unintuitive.
It really takes someone outside to point it out.
So for instance, one of the huge sales on our platform is we don't charge a closing fee. So for with many other trading
platforms, I'm sure many of you guys have experienced this, you have a position open,
you see your P&L, and then you go to close it. And it's actually a different P&L because they
charge you a fee when they closed it. They charge you some spread they didn't tell you about. They
didn't actually show you the compounding fees. They just showed you your P&L, but they didn't
include, you had to click some button to toggle to show like, oh yes, to include the fees that we charge
you to keep your position open. And we don't do that. Like we show you exactly your P&L already,
including like a spread already, including the fees that you've been paying. And then we don't
charge you a specific fee to close. So that P&L is actually accurate, but we never advertised
anywhere that this was the case. But we never advertised anywhere that
this was the case. We never showed you, we didn't have a button that said that we had no closing
fee. People just would see our fees at open, which were a tiny bit higher than other people's
fees. So for an example, let's say on crypto, we charge like 10 bps at open and nothing at close,
which is the equivalent of a platform, which every other platform we know charges fees at open and
close. It would be as if they were charging five, right? But if they see 10 in the
beginning, and the other platforms charging seven and seven, which obviously comes out to higher than
us, but we don't actually tell the person, oh, hey, by the way, we don't charge you anything
when you close. They initially their reaction is like, oh, these fees are too high when actually
the fees are lower. So things like this, we're like, we just needed to indicate there needed to
be a section when you were trying to open your position saying there is no closing fee,
clearly show people that actually this was a better deal. Because it was a different structure.
That's just one example. It didn't occur to us. Like, people were being turned off by the fees.
We didn't understand why, even though they were lower, we were like, what are we doing wrong?
And we just weren't labeling that correctly. Other stuff like the settings button, this is really
small, but the settings button used
to be embedded within the wallet section and people love the settings.
You can like change the background color.
You can change where the trade form is.
Like the app's very customizable and people loved it, but they couldn't find it.
So they're like, I wish I had a way to change the stuff on the platform.
Like we do, we have like more options than other people, but they couldn't find it.
So we just put it somewhere else.
Those are just two examples.
Honestly, there are hundreds.
I'm sure, yeah, Chris,
there's plenty of examples as well.
I absolutely love that.
I think users bring a lot to the table that sometimes a lot of people,
especially developers, don't realize.
So the fact that you guys are actually taking that into account,
it's like tells a lot about your company as well. Thanks.
Thanks. Yeah, you were building for users. There's no other reason to build a product than for company as well. Thanks. Thanks. Yeah. You were building for
users. There's, there's no other reason to build a product than for the people who use it. So.
All right. Well, that is the top of the hour. Caladora, I want to give you maybe 30 seconds
to kind of just give a final shout out to anything on your mind, anything that you want to leave with
the audience today from the Ostium crew. Yeah. I would just say, guys, if you're listening and
you haven't tried the platform, try it and then tell us what you think about it. We want to hear
if you don't like it, tell us if you do like it, tell us why. It's as I'll just reiterate sort of
the value prop. If you have a wallet and you have money in that wallet and you want to punt long or
short with some amount of leverage on the S&P, I mean, it's like trying to catch the falling knife right now. I don't know a lot of
people on the platform are right now. NASDAQ, gold, which is still sort of ripping, pulling
back a bit, but has been just absolutely ripping. JPY, Nikkei, even foreign indices. This is the
only place you can do this from a wallet. So, and it is way easier than your traditional broker. If you disagree, tell us and we'll take your feedback,
but you can very easily open positions with some amount of leverage, long or short. It's one simple
interface. The UI is super clean. I would argue, and our ultimate goal is to be the easiest,
most efficient, simplest way, fastest way to go and trade any asset.
Crypto, commodities, FX, indices, single name stocks, and then ultimately things like VIX,
DXY, bonds, whatever. So that's what we're building towards. That's the vision. We want
to be easiest, fastest, best place to trade this stuff. So try it. And if you have comments,
tell us, shoot me a DM. DMs are always open,
me or Flo or the Ostium account. We are very attentive to user feedback. So we'll find your
post and we'll react. Beautifully said. I really enjoyed this hour conversation with the Ostium
crew. Thank you, Calidora, for coming on. Flo as well. Check out that Ostium account up here.
Give them a follow. Check out the blog as well. There's a lot of really nice trading tips in
there. And obviously, go to Osteum.io. Big shout out to the whole panel that came up here as well,
Lady Trader for co-hosting with us, Lucas, Ani, Metazette, and Tropic. Appreciate you guys
joining in the conversation and helping me out for lack of a better term there. But thanks everyone
for joining today. What a great morning of spaces, even though the market's still a little bit red,
we are bouncing back a little bit, but hope everyone has a great rest of their day. I am
closing this space down right now. It will become a recording if you want to listen back to anything
and we will be opening up the X Spaces crew right now here on Wolf Financial. Thanks all. Take care. Thank you.
