What up, what up, what up, what up.
What's up, what's up, everybody?
What's up, what's up, what's up?
Let's see some retweets. Let's see some retweets.
I like seeing these numbers.
Let me see some retweets.
Let me see y'all get on stage.
What's up? Who else? what's up who else what's up
well um damn there's so many clips it's actually insane um i'm trying to save everything it's tough
um all right nice little clip right all right all right, all right, all right. Love that, love that. What's up? Get it. What up, lady?
What up, Buckle, everybody?
All right, Charlie, let's kick it, baby. Thank you. Oh, yo yo yo yo yo what up what up good morning good morning gmg uh wednesday so august oh it's still august dude how many days are in august tyler it's like it's like too many too many days fuck man august 27 i feel like i've been seeing august for 60 days
65 days like august then august 38 august 42 august 69. Maybe September. Even September
sounds nice. August is such a useless month,
August is like the Wednesday of months.
Loxy's kids went to school yesterday.
had it. He needs his kids to go
to school now. It's time. It's time. Y'all cleaned up together, Tyler, I can tell. Tyler's like, he's had it. He just gets to go to school now.
It's time. It's time. You all cleaned up together, Tyler. Look at you. Look at you.
All clean. That must be very bullish that you cleaned up like that.
I do have hair underneath there. Shorter than it was.
But yeah, I had to clean up a little bit for something after the show today.
Also, with flipped Fartcoin overnight.
So I had to, this is my pushback against.
Yeah, I don't know, right?
Tyler, Tyler's gone, dude.
It's a new man. We need to channel that that energy Farcone to actually start training with Solana
it would be very very good
I'm sure there's a lot to cover as usual
see what Tyler's got for us
prediction markets popping right now
I'm like chronically online right now. Everybody's talking about this shit.
I'm like chronically online right now.
I can't even leave my desk these days, which is amazing.
Then we're giving some money away.
We are giving some money away to a lucky Yeet winner.
The code today, I'll give it right now before I forget.
There you go. Are we so back though?
Oh, yeah, all right. So back s o b a c k so back is the code
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yeah folks crypto majors nice and green here this morning, led by Sol.
So Bitcoin's up 1.5%, 111.5.
Now leading on the day and the week at 2.04.
Gito is up 12%. Hype is up 10%
as well. Hit a new all-time high
ETH ETFs pulled in $455 million
yesterday versus just $88 million for Bitcoin.
$1.5 billion over the last four sessions.
Standard Chartered raises their ETH year-end price target to $7,525,000 by 2028.
So Standard Chartered is bull enough.
We had the U.S. Commerce Department, Howard Lutnick, was on the mic talking about this.
They announced they're going to start publishing U.S. GDP data on the blockchain, pushing for more transparency across economic reporting.
MetaMask had a big update yesterday.
They launched a new Google and Apple login support.
A totally different style of login and password management.
So that's going to cater to a new user group.
Jim and I launched Eaton's whole staking services and then Google Cloud developing their own L1 blockchain.
It's called Google Cloud Universal Ledger
and it's aimed at being an incredibly neutral platform
for financial institutions.
In treasuries, we talked about Sharpling yesterday.
They bought 55,000 more ETH.
Trump Media and Crypto.com planning a $6.4 billion treasury.
And then David Bailey's Nakamoto
announced a new $5 billion ATM program
to buy more Bitcoin. So they're looking to be a serious player if they're able to raise that cash
in token airdrop and protocol news uh plasmas xpl token briefly 3x to a dollar 60 before
retracing it liquidated a whole lot of shorts over on hyperliquid i think that's also what
drove hyperliquid to its all-time high last night kaido introduced a new verification system for
kaido nnts and token holdings.
And then Myriad, major milestone, baby.
$10 million in lifetime volume.
Also debuting several new markets and deploying new liquidity into the ecosystem.
And NFTs, artist PFPs were the hot topic.
XCopy Grifter is 24.5 feet full.
Samus Bratz Masks swept up to 9TH floor. That's $112,000.
Sam Spratt's masks swept up to 9 ETH.
Some of the biggest PFPs out there now
are these XCopy and Sam Spratt PFPs.
the NASCAR Labor Day weekend takeover
along with new collectible cards.
Japanese convenience stores.
The Pudgy proliferation continues.
There's a lot of good stuff there. Before we go to our topics, Mando, good morning. How are you doing? Japanese convenience stores. So the pudgy proliferation continues. And that's all right. Wow.
There's a lot of good stuff there.
Before we go to our topics, Mando, good morning.
Doing great is a great feeling.
It's a mindset, my friend.
It's a mindset. I love that. It is a mindset, my friend. It's a mindset.
Look at Tyler, man, though.
He's all cleaned up, no hat.
He's got the hair slicked back.
Tyler looks like he's about to be introduced to his wife's parents.
I'm going to my daughter's school for the first time.
That's actually the same thing.
Yeah, they say the same thing.
I meet the teachers and all that.
So what do you tell the teachers that you do?
Like at parent meetups, parent teachers, like in parents,
It depends on how in-depth I want to go.
If I just want to skirt the conversation,
I'll just say something like media. I do the same thing. I say media go. If I just want to skirt the conversation, I'll just say something like media.
When I don't want to have the conversation, when I'm really not in the mood, I just say media.
The thing is, before this, I was in consulting, and no one wanted to talk about that ever.
Like, oh, I'm in consulting.
The crypto thing still gets interesting Interesting responses Across the spectrum
I actually had a chat with a dad yesterday
And he was very skeptical
He's in investment banking
Investment banker is skeptical of crypto
I've been on those trading floors
Like regrets not focusing on that
and going the TradFi route.
And it's just so much better if it all just ends up being a scam
The biggest trade of our lifetime.
Yeah, the one bit of financial innovation we've seen in like 500 years
was somehow passed by by the majority.
So the finance dads don't really like you.
Do you tell them large language Latinos?
I usually wait to the second conversation
I'm into top 10 Kaido. Are you into Bitcoin? No, no, no.
I'm into large Latino models.
Yeah, that's the real way to end a conversation right there.
Dude, do they know you're like top 10 Kaido yappers in the last three months?
Well, I print out my current ranking every day when I wake up and I carry it around my card.
And then I give my card to folks when I start conversing with them.
It was my current live ranking and in the three month ranking and 12 month ranking.
Dude, I mean, I looked at, I saw what you said.
I mean, the man is now tied with Ansem in the last three months.
Man, though, our boy's cooking.
Come on. Put some respect on his name.
So, anyways, love to see that.
Tyler, let's go back there.
So, he's saying Majors Green.
Majors Arcbeat, led by Solano. Let's to see that. Tyler, let's go back there. So you say Majors Green, Majors Arcade, led by Solana.
Yeah, it seems that the big event for today is these NVIDIA earnings after close today.
But from what I understand, this is the least volatile NVIDIA earnings that we've had in over a year.
So the markets are expecting like a 7% or 6.6% move either way, depending how the results
come. But I think the potential swings have been much bigger than that historically, which I think
is good. I think in general, we want the least volatility possible that might carry over to
crypto. At least that's how I was viewing it. For the Bollinger Band folks out there,
I'm hearing that the two-week Bollinger Bands are the tightest they've ever been.
The two-week Bollinger Bands.
So I guess this means that we are due
for an explosive move one way or the other.
All right, let's look at that.
Amanda, what do you think about Bollinger Bands?
it tells you something that maybe you already know.
I never understood the Bollinger Bands thing.
Can you guys explain it for people?
Volatility in Bitcoin is very low.
Maybe I would have believed that
if you hadn't told me that.
But if they're very, very tight,
it means that you're due for a violent movie
Which feels like that does kind of line up.
everyone's narrative. I feel like half the people think we're
about to rip up. Half think
gulags in September. So I think
We were joking about the astrology,
which I haven't implemented yet.
It is still on my to-do list.
Tyler, go ahead and while you do that,
let's go to our astrology of the day.
This stuff is a joke and I say it all tongue-in-cheek,
but I think there is some kind of...
If enough people believe something
and trade on these magic lines,
they kind of will it into reality.
I do think there is something to that.
This is true. I mean, what's the difference
between those lines in astrology? Actually, I believe in actual...
Actually, you know what they say, right?
Yeah. Yeah. That's what they say.
So I found my history. You're right.
Well, ladies and gentlemen, it is time
Hour, your favorite show in crypto.
what did you ask yesterday?
Why is it not with the locals and stuff?
but it's not about money.
Make it about. Yeah. Make it about crypto. Make it about money. Is it? Make it about...
Make it about crypto like you did yesterday.
GBT5 fucking sucks, by the way.
Well, Art Aries, which is Tyler.
Hot-headed vibes equals risky trades.
Stick to layer two steady growers.
They said that first today.
They said the same for me as well.
Yeah, but they're bolding it for you today, Mando.
I'm starting to think this may not be real.
They're telling you to DCA quietly because you you're DCAing loudly on the show.
I'm starting to think that horoscopes may not,
You're chasing hype candles,
That's what they're saying.
You're being aggressive on your link buys and you're not quiet about it.
Virgo details equals profits.
DYR rabbit holes could reveal undervalued NF.
I mean, dude, you are giving me,
you are giving me the same exact thing as yesterday, bro.
I mean, who, who built this thing?
Like all we wanted was an up to dent up to date crypto horoscope reader.
Like let me, let me, let me, I asked for, I said, it's not good. There it is.
There it is. Fire signs Aries.
You're itching to ape, but impulsive buys equals traps.
It is really pushing you to abstract this is
abstract coded this is abstract coded is it really the same thing let's see virgo your edges detail
research tokenomics that others skim over you'll find over oh tokenomics oh that is different
maybe you took a tokenomics today maybe send me your tokenomics, y'all.
And then you said you're a cancer.
But see, maybe that's it.
You can't just, it's just not a one-day thing, crypto.
Maybe it's not a one-day thing.
Maybe we need a new moon.
DCA quietly into blue chips.
Man, again, DCA quietly quietly it seems to be telling you
is horoscopes the same it i know it's august 27th and we've completely lost the purpose of this show
but are horoscopes the same in the west as they are in the east like if we ask like a chinese
yo that's genius. A different month.
This is why you're my quant.
Because I'm year of the dog.
Do you guys know what you are?
What year are you? You're 40. You're What about you, Tyler? What year are you?
So the OX, slow and steady.
Stick with BTC ETH accumulation, stability, and over-chasing memes.
Your grind pays off don't chase large
Don't chase large language.
And where what do you said you said go go market swings test patients community tokens plus yield farming align with your
Cooperative energy great. That sounds like that sounds like link
This is very link coded and And then the weird dog for me
Loyalty can blind you. Ooh
Don't diamond hand and sinking. Oh my god. It's got you right there. Oh
That one stung that one stung that's incredible
I've ever read in my life
oh man I mean I've never seen a more accurate sentence about me in my life. Oh, man. Oh, man.
I mean, I've never seen a more accurate sentence
Go to JLP. Sell the fart coin and go to JLP.
I can't sell it here, but I'm actually like, I went from being up seven figures
to being down seven figures.
fart coin every three months,
The last time it worked. The second time it going to happen. The last time it worked.
The second time it didn't work. The third time
it worked until it didn't work.
It was working for a long time, though.
I was up a lot for a long time.
Let's talk about it for a second.
coupled with Sol there for a bit, or at least
it felt like it. Sol would pump,
Barconin would pump a bit more,
and that trend seems to have stopped.
That's what I saw this morning.
I was like, oh, maybe that Fartcoin bag,
which I bought, it's going to be green
I think Fartcoin Sol, we can check on Jupe, right?
Yeah, that's where we look at it.
I don't even want to look at that.
I mean, it was up for so long.
I forgot where you go to go. Swap and then where's the chart? Oh, there it is. So you go to look at that. Go to pro. I mean, it was up for so long. I forgot where you go to go swap.
And then where's the chart?
Tyler's talking about the correlation,
It's not even loading it.
It doesn't want to show me.
I think that owning a meme coin for L1 beta is not a good trade in general.
I've learned this many times now in crypto.
He's still out there? He's still out there.
That's what we're calling that.
Still doing what he does.
So how are other coins, like, how are other Solana memes doing?
Because that's what I was thinking.
I was like, is this going to be an L1 first, meme second, or is it just dead?
Right? It's like, usually you go to what? Solana memes
to look at the rest of them, right?
They're all just kind of chopping. The meme
I think Wiff might be ahead of it now.
Fully flipped by WIF too.
Not great. Chinese astrology is sending me a message today. Oh, wow. Fully flipped by WIF too. Damn. Yeah. Damn.
Chinese astrology is sending me a message today.
JLP, guys, up another 2% today.
If you'd been levered 6X, you'd be up 12% on that.
And just earning 80% APY.
Just earning 80% APY, so don't worry about it.
Well, I mean, of course, I've been sold up 8%.
And ETH and Bitcoin are both up, so you would expect it.
Why are you laughing, Mando?
Why are you laughing at my demise?
Like, why are you laughing at my downfall?
You're supposed to, like, not be laughing at my downfall.
Brother, it's become, it's just become comical that you would just, you're a Farcoin only guy.
And you know the moment that you sell it, it will also just, like, gigasend.
And you'll be like, what the fuck? I'm farcone and rec guy that's all here's what i would say here's what i
would say tell me stop making fun of me and give me some real advice here okay all right please
art coin is it gonna be a 500 meme at any 500 dollar 500 million500 million. What do you mean? It's already above that.
I don't think it's ever going below $500 million.
I think it's a good meme.
It will always be a top meme.
And it's sitting here at $800 million.
assuming that it would never go down to 640 million, right?
And I don't think it will go there either.
Take out the capital, right?
And actually, then you just own a Fartcoin option
rather than owning Fartcoin with your holdback.
That's what I would do in your position.
Because what I think about Fartcoin is it's not going much lower.
I bought a little bit more then, and it bounced a little bit.
But all I felt was just that, like,
this thing's not the number one thing to own here,
but it's also not the thing that's going to go below 500 million again.
And to me, I'd rather own it
and showing up to the show
every morning yeah and that's this type of stuff I don't me out of bed and showing up to the show every morning.
And that's the type of stuff I don't do.
I know I need to do more of, but it always scared me in a way.
Farquhar does have wicks.
Farquhar had a wick the other day, which went down to $750.
But it kind of just stuck there.
Is Farquhar really going to go?
If you go down the list of top memes, like top memes in crypto, Farccoin is now below whiff, Brett is at 500, build on, what the fuck is that?
It just got flipped by whiff.
just got flipped by whiff like for what it's worth it got flipped on the way down
For what it's worth, it got flipped on the way down.
trump is trump is 10x now what fart coin is wow uh fdv pudgy is
six or four x four x because go by fdv here down here you get into some like really kind of like
mog is 400 right mog is 400, right?
Do you think that Farquhar is going to go below 500?
I don't want to say never because I'm – dude.
And again, you made a comment.
You see, you throw me off with these guys saying you're going to sub,
then you're going to rip.
Of course that's going to happen. Well, so you keep the upside.
What I'm saying is keep the upside, but I don't think –
I think what we're hearing here is that it could just go sideways for a bit.
Like Sol actually could go to 220 here. And I don't think,
I don't think Farquhar really gets moving until soul approaches all time high. And in the meantime,
we could be here for a while. Right. And you're sitting there just going like,
Oh, I just own this thing that doesn't move. So.
Yeah. I mean, that's changes on so yeah i mean that changes on the corn moon
that changes on the corner but you can keep the upside i'm not saying you shouldn't keep the
upside i just don't think it's going lower from this sort of level like not not like more than
25 percent like it goes down there i'd actually just double up and buy more right like
if it's a 500 meme i think it's one of the better memes here.
And it hasn't got any tier one list.
Yeah, there's enough there.
People would always buy it,
is what I'm trying to say, at
And then you can just chill.
You haven't lost your trade, is basically what I'm saying.
Don't diamond hand a sinking token.
Shift to strong fundamentals,
Anyways, Tyler, what else you got?
I'm a business director now.
I'm so distracted right now. I don't like I'm going to do exactly the same thing right now. No, but this is good though. I'm a business director now. Hype. I'm so distracted right now.
I don't think I'm going to do exactly the same thing right now.
No, but this is good advice.
This is actually good advice.
How would I execute that?
That's exactly what I was thinking.
This is really good advice.
You executed long on Hype
and then you buy the GLP on their platform.
GLP you can just buy on Jupe straight away.
You don't have to stake it or anything.
If you wanted to, you can go onto Camino. And I think
Camino, you actually can just deposit
Camino and you go to the multiply section,
I'm just going to end it now.
Yeah, you deposit JLP or USDCC so you can actually buy the JLP and just deposit it
or you can just deposit USDC
oh interesting, so it's a dynamic multiplier
so it's only 2x multiplied right now
this is really interesting I, this is fucking... This is really interesting.
The average multiplier is 2x.
Maybe you can choose your multiplier, yeah.
You have to lose money in my opinion.
Meanwhile, our coins are just absolutely ripping right now.
Let's go to the coin board.
I thought it was – on Monday, I was told that it's over.
So I'm really confused, guys, about what's going on right now.
If you listen to this show, I don't think you –
Like, obviously, it's August 37th right now.
I was telling you, being a Monday, like, this month needs to fucking end. I'm so tired of it.
the people bullish. You're not
going to hear some doom bullshit on
this show. I know we like to joke a lot
the people sane, in my opinion. Look at this board.
Keep running up against some of these next resistance levels.
Keep getting rejected off a bit,
but it looks like we're going to keep running up against them.
So Bitcoin 112.5, ETH 46.60 seems to be where it's getting rejected.
We're above the line here.
I was talking about hype.
Hype at $50.55, basically at all-time highs.
So the big thing that happened on hype yesterday, I think most people probably saw this there on the timeline,
the Plasma token, XPL, a lot of folks are up significantly on their XPL positions because it ICO'd at $500 million.
I think it was trading at like $5 billion FTV pre-market on hyperliquid.
So a lot of folks opted to be somewhat risk averse and put on hedges.
So they shorted XPL pre-market on hyperliquid.
What happened is a whale, it was early reported just in some,
but I've seen that report debunked.
So I'm not sure who it was, but what they did is they sent it up 300%
every short, effectively.
Even people who were 1x short
And then I think what's even
worse... Hey, look at that!
Mando, we just put a big green on Canada on Farcoin.
It went from 800 like two minutes ago to 823.
We're off the rails here on august 37 yeah i'm only so over this month like the month needs to end i'm over it oh man so xpl justin son it wasn't him yeah it went up 300 liquidated on
the shorts now i can they keep sending it up. So I guess a lot of folks,
I guess you're still happy that it's going up.
lost $2.5 million in the short.
Saw another accountant who lost $1 million.
I mean, don't short, right?
I think that's the lesson.
You had a great position.
That's just not my style.
And I'm pretty risk-on. I don't like's just not my style and I'm pretty risk on
I don't like taking the short there
you better know what you're doing
the reason people are serious is that this was just a hyper liquid
specific wick like this didn't happen on
Binance so anyone who was playing
do you do it on other platforms?
I haven't looked into this
myself. I saw people saying that it didn't happen
on Binance, so I assumed it was live, at least
I didn't know you did do this.
short and this happened. So that was like the maintenance
margin wasn't high enough or something like that.
Yeah, basically. 1x short and getting liquidated, that was like the maintenance margin wasn't high enough or something like that. Yeah, basically.
1x short and get liquidated, like
you never hear about that.
funny thing would really be now
You know, everyone's like, oh, don't
worry about it. It's just like, I just lost 10%
I would bet that that happens.
What's funny about that is then
from liquidating those positions
for volume is a big deal.
you need to focus on the fully
dedicated market of Hyperliquid.
and there are unlocks starting from
at least the core contributors.
So don't fully believe this is like a $15 billion coin,
but you can't argue with the business.
This is incredibly well. Incredible business.
I mean, it's the best business for the cycle so far.
I think a lot of the folks who are calling for it to 2 to 3x
are calling for that on the market cap.
So I do still, not trying to be bearish.
And again, I'm out of this position, unfortunately.
But this has been an explosive month for ETH,
an explosive month for Sol.
It's been kind of hard to rationalize that.
It was just Clemente bought.
Clemente went in the trade.
The volume is up and to the right.
The buybacks are the highest they've ever been.
Volume is the highest it's ever been.
Yeah, I think you do well. It's still a good token, but I think just that's good yeah
A couple more serious blockchain stories.
So we had Google come out and announce that – or Google Cloud.
They're building their own blockchain.
It's called Google Cloud Universal Ledger, G-C-U-L, terrible acronym.
It is aimed at the financial sector.
So they're trying to build a performant,
credibly neutral blockchain platform. It is based on,
it enables Python based smart contracts.
So it will be a smart contract blockchain.
EVM smart contracts are also,
So perhaps compatible there.
Still just in private test net.
We don't really know a whole lot more else about it.
But a big player entering the blockchain space here,
clearly, with Google Cloud.
And perhaps another reminder is that some of these giants
are going to come in and build their own infrastructure.
And it might integrate with our existing,
but it doesn't necessarily mean they're all going to come
and build on the existing ones.
one headline. The other one
was out of Howard Butnick
and the Commerce Department saying they're going to
put their economic data on the blockchain.
I think this is actually a pretty big headline
and goes with some of the
of Trump and the Trump administration and what they're
trying to do to provide more transparency
in everything the U.S. government has been doing.
We know spending has been ballooning and out of control.
I mean, what better way to put some type of accountability on that than publishing it all so that everyone can see it to a degree?
Of course, there's limits to this.
There's defense spending.
So there's nuance to that argument. But in general, I do see the upside in publishing all that. And that's effectively
what they're saying. So they're going to start issuing economic data on the blockchain. They
haven't announced which blockchain it's going to be. So this is all still, I'd say, fairly initial.
But the idea is there. His direct quote, the Department of Commerce is going to start issuing
its statistics on the blockchain
because you are the crypto president.
I think people were kind of mocking the way
he said it and the lack of detail.
I think it does make a whole lot of sense.
most people in general will be for it, right?
Like, I don't know if we need our Department of Defense spending
to be public and transparent.
But for other aspects of government,
I think most people would applaud that.
So we'll see if it actually happens
and then where they choose to build it.
Yeah, I mean, they're doing really fucking good.
And they're definitely pushing the blockchain tech
across the board in a very, very big way.
I don't know how much stuff else is going on.
I mean, it's like the whole timeline
pivoted to prediction markets right now.
It's like not even memes going off.
I do want to go to prediction markets.
This is kind of another big deal that also got overlooked
because people are checked out on August 30th.
MetaMask launched this new social login.
So this is a new feature for their self-custodial laws
that you will be able to restore using your Google or Apple account.
So you won't need your traditional 12-word recovery phrase anymore.
And I think during the last bear market, there was a lot of talk about the hurdles to getting more folks in the door.
I think one of them was our existing user experience.
And these are the types of updates that do enhance that user experience. And these are the types of updates that do enhance that user experience. And of course, there's the cohort of folks who are going to want 12-word
recovery phrases and more advanced security. And then there's going to be a cohort of folks
who want more ease, ease of management.
It's clear we're seeing more and more of these wallets and
protocols go in this direction. Now we have the industry leader
users will sign in with their Google or Apple ID,
MetaMask will generate their recovery phrase
effectively behind the scenes.
They'll use their own cryptography to manage it.
And then users will be able to effectively
just use their social logins.
So definitely a simplified onboarding experience.
You were busy, and rightfully so,
and prediction markets blowing up.
So should we talk about it?
I mean, I was telling Tyler earlier,
and I spend the first hour of my day.
Like, it literally takes me an hour, which is not a bad thing.
Just, I go in the, I have the Mirriad login since last week.
So, like, since last Tuesday, I even entered in there.
It's, like, a reply to people.
Like, I'm at a founder's channel on Discord.
We have a chat for active users on X for, like, the most active active users.
Like, oh, everyone has to be active in there and so i'm just like catching up with the timeline because we're getting tagged
left and right people writing about us when there's threats there's mind share wise like we're
top 15 top 12 on kaido right now last 24 hours um so it's been a lot and it's really cool to see
like this snowball effect of like the prediction market conversation i find it funny been a lot, and it's really cool to see this snowball effect of the prediction market conversation.
I find it funny in a way.
It's like, oh, like 18 months ago when we started, we literally started building Myriad in March 2024.
So it's been like 17-something months, 18 months almost.
So a year and a half, everyone's like, yeah, it's not going to work.
Like every investor, everyone I spoke to was like, yes, you're never going to be able to compete with Polymarket.
You're never going to be able to build something.
No one's going to care after the elections. is stupid um why do you need that oh but you like you know your immediate company doesn't make sense like all these things i actually have a
screenshot folder of that uh but but but then you know you got to keep those but um but um but now
18 months later it's like oh you're not into prediction market?
I understand that it may be just a fad on Twitter and people are going to move on the second meme coins start picking up again.
But I do think that this latest move, this mind show on CT around prediction markets has definitely onboarded a lot of new users.
We had to launch an extra $ thousand dollars in liquidity last night uh 16
new markets right now on abstract we're we're trying to do like even 15 more today like we're
like overhauling uh the platform behind the scenes um and going as hard as possible because we're
about to have our best month ever after last month being our best month ever we have we had our highest usd amount of usdc
traders ever uh almost ever on the platform so it's like it's actually like this thing's popping
off and i can tell you guys firsthand like what's what's what's it like i can't actually i can share
this with you this is the behind the scenes of myriad so i get full transparency and beware of
prediction markets sharing crazy numbers that don't make sense like i've seen like polymark and calciate it's crazy they have a certain amount of volume
but like i still are new prediction markets coming out right now claiming like two three four five
hundred million dollars of volume first of all one of them was using faucet usd so play money as
their usd volume which is pretty crazy uh and some another one was like using some really sketchy
numbers towards that like this is what real numbers look like. So like we've had 8,200 traders so far this month on the platform, which is pretty crazy.
As you can see here, we're about to beat volume from last month.
56,000 individual USDC trades so far on platform.
We officially hit 300,000 trades made in USDC on Myriad.
This is starting to really take off.
And it's really awesome to see, honestly.
And I feel like you've been very measured in rolling this out, right?
Increasing liquidity over time because you want to make sure you've got the edge cases handled, right?
It's like what you don't want is is the big mistake something goes wrong with the market and there's
Right, so you have to roll it out in certain ways
And I'd love to see the new markets coming out and actually liquidity too. Yeah
I mean a lot of people are asking I was like hey like a few hundred dollars moves a line
I'm aware like a liquidity is tough like even farmer i think
tweeted that i mean it's like yo like i need more liquidity on these markets homie because like and
that's why i texted logs and obviously it's hard i mean these the larger prediction markets in mind
that we're having a long conversation about this this morning but it's like they lose a lot of
money man like we're talking like eight figures and they have incentive programs and they have
these whales and they have these liquid market makers on there and liquidity providers.
And we're going to have all that.
But it takes a robust platform to be able to have that.
And I don't think people understand like, and I really would be careful, like about there's probably going to be a lot of prediction markets rolling out, but it's not like a launchpad.
It's not like a meme corn launchpad where you create a token and then it launches and then the people buy it and it's done.
meme corn launchpad where you create a token and then it launches and then the people buy it and
it's done like this it's extremely hard from a tech standpoint to build a prediction market
like it's way above my pay grade and by the way i don't do any of that right as you know i'm the
hype man right i'm the face of the brand i do my thing but it's extremely hard to launch one like
it took us like from march to december to build the tech december we launched a beta with the pudgy penguins remember
art basil we only really rolled out in january so it took like 10 whole months to build the core
platform and even then it's it was built on top of a platform that people have been building since
2021 um so it's it's hard i mean mando you you kind of saw this like when we talked about pivoting
to prediction markets back in march last year, cause you're an advisor with the company anyways.
So you kind of saw the whole thing.
Like, what do you guys like outside of myriad?
Like, let's talk like no bias, nothing.
Like I want to know your thoughts.
Cause people look up to you guys too.
It's like, Mando, you go first and tie.
Like, what do you guys think of this whole like prediction market meta here?
I, I would kind of agree.
It's, it's, it's, it it points to the idea that the other things have
i mean we talk about this a lot but like we really are just here to gamble on different things yeah
different edges at different times and um i think football.fun kind of showed that too like it was
just like right we need to move to another thing because people haven't made money in the trenches we've shown like after that Kanye West coin it's just
like come on guys can we keep doing this for another year of just um getting dumped on and
you saw the number of traders on Solana so people looking at new things I I think that you can have
an edge trading prediction markets similar to having trading an edge with sports betting.
And maybe even more on prediction markets, I would say,
that you can have an edge.
And I think that people are going to get naturally drawn to it.
I think in some ways I kind of prefer it
because I don't think the upsides are necessarily as egregious.
Like people aren't going for like 100Xs,
they're more just going for like balanced you know maybe two three x in it or for a good trade you know
what i mean like you can you can get some decent decent trades on there i do i still want to
understand the business model a little bit here as well though like it does of what i've heard a lot of the prediction
markets don't make money like as what i've heard it's not like a business which is necessarily
making money calci too um what i do think about myriad is that actually it makes money
right as a product but i don't really understand the business model of the top two
if there seem to be like losing money on prediction markets.
And that's something that on the business side I've been trying to wrestle with a little bit because I think that's kind of what makes Myriad sustainable, but necessarily means that a lot of people who try and copy this Calci-Robinhood model, I don't really know how they're going to be able to do it.
Because I can tell you, having looked at the hood here, it's not easy to create a prediction market.
And then almost impossible, or at least very, very difficult to create a prediction market which can consistently actually make money for the platform.
So I think there's a lot of future in the business model, which Miria has gone down. It's probably slightly different growth path in that it requires more people to come on and use the platform. Whereas it feels like, from what I hear, some of the equity raises of Polymarket are basically paying off some of the losses on the book, which just seems kind of crazy to me.
And I think, I think, I think there's a, like a,
there's a bright future for all of this. And I,
my underlying trend for the whole world is that we're all going to
increasingly go towards gambling style products because that's the best way to
it's much more difficult to kind of buy a house.
you need to kind of go after these sort of crazy gains to actually like,
if you really want to try and re-rate yourself to a higher level of society, like it's
you know, Elon Musk is making
hundreds of billions of dollars, like the only way for you
sometimes do these sort of things
and I think prediction markets is now like a really
interesting way to do this and you probably
have one of the highest edges as a user
at anything. We've played this, we've looked
but if you ask ChatTBT, like, you should ask, actually,
like, across casinos, sportsbooks, leverage trading,
meme trading, and prediction markets,
like, what is the highest percentage of winning users?
I do think probably prediction markets would come highest would come highest there. Maybe sports betting next.
And then the other three are all kind of like across casinos,
Trading perps, trading, pub trading,
And, uh, and prediction markets.
What gives players the highest what?
Yeah, the highest percentage.
What has the highest percentage of winning traders?
I think it's going to come out as probably prediction markets one.
Well, we have a 73% hit rate.
You should do meme coin trading as well.
Because that's what most people are doing here.
Just stop it and do meme coins as well.
It's giving me all an explanation of the whole thing.
giving you prediction markets.
and I think meme coin trading would be
Pulse trading would be 5-10%,
and I think prediction markets is at the top.
If you're going to play gambling games,
prediction markets, I do think you have one of the highest
chances, if you're a shot play gambling games, I do think you have one of the highest chances if you're a sharp.
Oh no, meme coins are third.
But then I think the kind of
illusion of all this sort of stuff is that you
have to be sharp. Do you know what I mean?
Like sports betting, people make insane amounts of money sports betting yeah and prediction
markets but i don't think they will on um if you're not good do you know what i mean yeah
oh i'm a really good sport like you will see only the best at these sort of things. And that's the same for all of these, actually.
Like if you think you're a good perp trader,
like, yeah, you can make money.
The worst losses I've seen in all of crypto,
like bar none, is on perp.
everyone loses a billion dollars.
James Wynn quoted, you know.
So like, I also think that you need to
if you want to sit there and own spot
and you just want to gamble on the side
you might want to be doing it for
the timeline that you might want to do it over
that you know your real edge
there's definitely a lot of edge on that.
We should go through some of these markets,
but Tyler, first, what are your thoughts?
I mean, you obviously spend a lot of time on the timeline.
So what do you make of this matter right now?
Yeah, I think some folks are really seeing it for the first time.
I think there's a lot of frustration with the meme coin trade specifically.
I think we're seeing some of that cohort move over
to prediction markets right now.
There's a clear trend of that.
And meme coin trading feels like a rigged game.
And prediction markets feel kind of like the opposite of that, right?
Like this is what the market thinks is going to happen.
You can choose which one of these markets you want to play in,
perhaps align to what your areas of interest are, your areas of expertise are.
And you can just sit and be patient and wait for your spots right
i think a key difference is you're not you're not going to hit 100x in prediction markets
right it's going to be a slower grind like you're going to have to be like a big prediction bet is
hitting a 3x right because you're betting on an underdog market, effectively. So it is a lower grind for sure.
It's very interesting to me on the discussion of how the big players lose money.
And is it because they are also the ones responsible for providing liquidity on the market?
So they're effectively taking sides.
And then they're on the losing sides.
I'd be curious to hear a little bit more about.
They have no revenue model.
So you know how we have a 3% fee on all buys?
And be like, yo, why do you have a fee?
Well, we're going to run a business, right?
And by the way, we're going to introduce a lot of cool things, like rig backs, and then
we're going to introduce buybacks.
We're going to introduce shares and volume with creators and companies and embedding. You guys are going to introduce like, uh, um, liquidity, you know, um, sorry, shares
and volume with like creators and companies and embedding.
And you guys are going to see a lot of that soon, but there's a reason why you have a
So first of all, they have no fee.
And second of all, they have to provide liquidity and then they MM their own markets very often.
So like some of the big ones was like tens of millions of dollars a year.
I don't know if that's the case today.
So don't quote me on that.
But like it's why they have to raise an absurd amount of money.
Like it costs a ton of money to like sustain that liquidity necessity.
So just so you know, like Q1, so season one of Myriad, we lost 35K.
But like at scale, you can imagine that could have been 3.5 million.
Season two of myriad market making,
So we think we figure out a way to do it properly.
do you have internal trading that's such a,
so we're good and we're not up a ton.
We're up a tiny little bit,
but just being even is all that you need.
you need to provide liquidity and lose money.
And so we're trying to come up with like mechanisms for people to be able to earn yield on their
predictions, to be able to get rewards on the prediction, et cetera, et cetera, et cetera,
by providing liquidity. So I won't say you have the answer yet, but I think we're going to see
prediction markets in general. If we're doing this, we're not the only ones doing it, right?
The big boys are doing it too. I think you're going to see a lot of new,
clever ways for prediction markets businesses to make money, right?
I think that's something you're going to see.
The next evolution of prediction markets is like,
yo, how do we scale this business to making billions of dollars like a Binance exchange?
More foot traffic can lead to like an advertising model, right?
But then you're back to being in media, right?
It's like we've done that, right? We, but then you're back to being in media, right? It's like, we've done that, right?
We did a deal with like Wallet Connect.
We've done multiple deals with other brands
where like, you know, they present a prediction market,
et cetera, but then you're just a media company, right?
I do think a lot of these are,
so just again, in terms of the business models,
like we're provably fair games
that are mathematically proven
to earn us like 1%, right?
that we would make money.
For these prediction markets,
Even if with a 3% fee for Myriad,
like you have to market make the book
and I just don't really know
what the next evolution is,
going to have to change the model.
I think for some of the bigger guys,
it's going to get interesting guys,
I know a lot of people are now trying to call for it to be just a hype phase
or there's like a bunch of people tweeting about it.
I wouldn't fall for that. Like, I think there's a lot, there's definitely you bunch of people tweeting about it. So they're getting paid, but I wouldn't, I wouldn't, I wouldn't fall for that.
Like, I think there's a lot, there's definitely,
you should pay attention to prediction markets.
And I definitely think we've been screaming that there's March more.
Uh, some people should focus on that more than, more than, uh, more than the
meme coins, but you know, I think, uh, look at the numbers, look at the numbers
Like if, if one to 2% of people in traders are winning and the thing is 10 to 20% for fun, right? Like I if 1-2% of memecoin traders are winning, and the thing is,
I think this is the main difference.
Memecoins have exactly the
same return profile, basically.
And people think they have an edge.
At least with prediction, we're talking about like a, what?
it's like 10 to 20% of winners
I mean, you could just go into something.
We did this with Tyler the other day.
Like, you could take a market like this
If you're really bullish on Ethereum,
take the 5K. And that's a 30% trade here.
That's even one that's kind of outside your
control, but go to the football.fun
market that you guys just added.
It was a little lower this morning
when I was looking through this.
Like, they're at 36 million right now.
I think it's a pretty high,
like 36.8 million as of this morning.
You can run some numbers.
You can look at their previous seven days trading volume.
Like, you can do real analysis
to come to a conclusion on this bet.
So that it's not just a wing and a prayer.
that's a 15% trade on the yes,
but if you're so bearish on football.fun,
instead of tweeting about it,
you can take the no and make 345% on a trade.
and you don't have to use the platform, right? It could be yes
or no. You don't have to use a platform and, you know, stake your opinion on it. So I think.
And then there's also a head just like, look at the link market. So the link market jumped out
to me today. Where's the link? This one? Yeah. So you can get two extra money on link
with, uh, I mean, it was just over, it was just at like 27 last weekend.
And if Link goes to 25, that's definitely not a 2X.
That's an interesting market right there.
I think people are asleep at the wheel on this one.
I mean, you have to say at the end of September 10th, right?
So a lot can happen between then.
But if Link goes to 27 this week,
the market's going to go to like 70%.
So you can clip out the 60% one.
You don't have to wait for results.
We can live trade them, right?
I was saying the other day, like sometimes news happens
and you can go and take a trade on prediction market faster
if you've missed the perp trade, right?
Because the prediction market is usually you have to play catch up.
Or you have fun stuff like this.
We launched an easy versus... It's so funny to think about just you have to play catch up. Or you have fun stuff like this. Did you see the one? We launched an easy versus...
It's so funny to think about, just going back to that link thing.
It's like the alternative to that is to lever trade link or to buy link.
And actually your return profile is much worse.
Particularly if you're using perps, right?
You're not going to get liquidated using a prediction market.
No, I mean, you a prediction market. No,
you will lose everything.
But the upside downside is just,
it's much better in mind.
It just seems for that smaller,
like that's 3% away right now.
Like to double your money on 3%,
like you'd have to get just by 20 X leverage,
That's actually a good point,
Like you basically put on a 18 X leverage trade there in length and yeah,
That is a good point. So nice. That is a good point.
So anyways, I do look like obviously like I'm fully biased on this prediction market thing because we've been building one, but we're also building one and spending millions of dollars building it for a reason.
So it's just like, I think there's definitely something there.
And, uh, and this industry is definitely exploding.
Anyways, I just saw the time.
I know Tyler's also got some stuff to do.
Charlie, is the Yeter board fixed or what?
Tyler, if you got to go, don't worry.
I know you've got some places to go.
I might take it off, guys.
We've got Build for Big Moments as well, right?
Dude, we're in the final.
So while Charlie pulls up the board, you and I can talk about Build for Big Moments because we beat.
We're going into the championship rounds here.
Let's keep talking about this because this is nice.
We're 195K with the tournament.
40K. Okay. Okay. Who love to hear that. You're 195K with the camera at 40K.
Oh, so you're saying build for big moments.
So build for big moments. So build for big moments.
finals finals. We're in the
final final. We're in the final final.
somebody needs to go in there and
just play a bunch of Plinko
need to make sure we don't lose this.
Because it's losable from here.
One night, this is losable.
I see you in the, in the audience.
We're going to go to you in a second.
So remember, build for big moments.
If you use the code FOMOHOUR, we're giving out all the money and we agreed.
Oh, we didn't talk about this.
So we had a chat in the FOMO chat and we agreed to give that money away to the leaderboard
because we already give enough away to the listeners.
$1,000 we're giving away.
But we're giving it, we're giving it only to the leaderboard.
So, cause we give four days a week.
So four days a week, we give money away to a listener, right?
And one day a week, we give money to a subscriber. That's five days a week we give money away to a listener right and one day a week we give money to a subscriber
that's five days a week that's already a lot given to our listeners because you guys are always
winning this built for big moments on every day so we've decided that we're going to give the
whole 19k away to our top volume people but for the month or for this final week well we're giving
19k right but that's what i mean like is it just gonna be for this final week for the whole no we
got to give it to people who participate in build for bit moments.
we also want the small fish to win.
So we haven't done the breakdown yet.
Tyler and Sims should like sit together and break it down.
we're going to give it away to people who helped us win.
So basically we're running a 19 K leaderboard.
Or that's correct. I mean, if we do any sort of proportional, So basically we're running a 19k leaderboard right now. Correct.
I mean, if we do any sort of proportional,
then there's a lot of money to be made here.
We got to find a way so that the person who played 1k also wins and we don't give it all to the person who just played like 100k.
Because we got to give things to everyone, right?
Well, I think a big mixture of both, right?
You can game this pretty hard if you do.
We're going to let the top person make the most, of course.
But just so people know, we're going to...
All right, Instant FO, congratulations.
Are you in a chat, Instant FO?
Yo, Mando, I got to say, yesterday was the worst yeet day ever on the show.
We're about to give away 19K.
But what happened yesterday is the guy wanted to go to the tracks twice
and both times lost on the first tile.
Actually, I'm down to play risky click.
Risky click. I know how to play.
Instant F.O. Is he in the chat,
I don't see the fucking chat. Hold on. I'm going to move my chat somewhere else.
Instant F.O. Yes, he's here.
Instant F.O. Tell us what tile you want
and then if you want more than one tile, just tell him
all at once, please. That way
we play them faster. Tell us what tile you want. Instant F tile, just tell them all at once, please. That way we play them faster.
Tell us what tile you want.
I am Monkey JPEG and invest in an own fault. All right, so 1.5 has to hit first.
Let's go. Let's wish hit first. Let's go.
He did ask for a second one.
Got to switch up that RTP.
You wanna do anything more risky
instant FO? Or you wanna get out?
Yeah, instant FO. You can either cash out 487
on top of the 500 you made, or you can
Okay, we'll cash this. He plays again, right?
Yeah, he plays again. So, okay. So, congratulations, 487.
That means he's already made 900.
Oh, he should have played
It's okay because he made $987
and now he can get riskier.
So, Instant FO, go for it.
That feels good because the last few Yeet clips,
they're kind of weak, I got to say.
We've been giving too much money away, I think.
Use a tornado cash clone.
Oh, the 420 was great on this one.
Listen, I have to say, I think this one was a good one.
See, when the boss man, when Big Daddy Yeet is in town, he's a lot of money away.
Well, that was a pleasure.
We'll see you all tomorrow morning, 10 a.m.
Eastern Standard Time for another episode of FOMO Hour on Rug Radio.
Let's go. Thank you. All right.