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FOMO HOUR: GHOST MONTH + Joined by the fam at Etherex!
Recorded: Aug. 26, 2025 Duration: 1:00:18Space Recording
Full Transcription
Thank you. you you Just what
Dun dun dun dun dun dun dun check check check check check check check check check check check check check check check check check check check check
All right, all right, all right, all right, all right, all right, ghost mom
Sorry today, okay, was it like the full moon? That's the most important question Tyler's fucking ghost
Yeah, that's much more important ghost let's look it up
while we get this are you serious there's no death okay all right I'm
getting hyped up my birthday dude I and it's on a Sunday to like these are no No, the core moves! Hey Charlie, start the show! Start the show! We gotta talk right on air!
Start the show! I Yo, yo, yo, yo, yo, what up? up good morning good morning gmg
tuesday august 26 2025 look at that another beautiful day to have a beautiful day i went
crazy i forgot i wasn't even connected so i don't even think people heard us. Uh, my calls now is Tyler Mendo. Good morning. How are you doing today?
I'm great, man. How are you?
Dude, Tyler and I just like, wow, something just happened in the studio.
I'm shook.
We need to start with that. Like we, we, we, we got it.
We forget the sponsors, forget the show presentation. We have to start there.
I was asking Tyler, I said the Ghost Month thing,
I asked Jason from Oro, who, you know, been on the show
regular, do people talk about Ghost Month
in Asia? He's like, no, I don't know what you're talking about.
He's like a fat market maker based in Hong Kong.
He's like, but the Ghost Festival is a big deal here.
Okay, cool. But I'm like, Tyler,
what really matters here is, when is the next
full moon? And the next
full moon is
September 7th.
And I've been saying
my birthday is the bottom of all bottoms.
And it's on September 7th.
And do you know what the name of the moon is
on September 7th, Mando?
Farouk moon?
The corn moon.
The fucking corn moon.
Unbelievable.
Like Bitcoin.
Corn.
Wow. I will be going max long on September I will be long with every single dollar I have and it's on a Sunday
I mean Tyler this is like this is huge. I mean this is this is huge. It's huge. This is breaking news
I don't know if people are aware of this and is anyone talking about this
aware of this. I didn't see anyone talking
about this.
Dave.
Big deal.
That's insane. I'm euphoric
right now. I have to say, we could dump
Farco and Cougar are like 60 cents
from now to then.
I don't care. That's it.
That's all I needed. I mean, the corn moon.
It would be followed by
the hunter's moon.
Do you guys realize what's about to happen
to the markets
that's funny
I'm just starting in my head
I gotta make sure my long
survive until September 6th
until September 7th
I gotta make sure I have some money by then
I looked at my portfolio yesterday for the first time in 2-3 weeks I'm surviving until September 6th, until September 7th. Yeah, I got to make sure I have some money by then, because let me tell you,
I looked at my portfolio yesterday
for the first time in like two or three weeks,
like the actual dollar amount
of the total of my assets.
Yeah.
Mmm.
Mmm.
I'm back, baby.
Mmm.
I thought I was like,
I'm so back.
Every time I hit... I do think that, Tyler, I'm so bad. Every time I hit court.
I do think that, Tyler, you should add that to your general repertoire of tweets,
which is like a bit more astrology.
I think it kind of suits your general interest as well.
You often ask someone to tweet about this sort of stuff.
I don't know if you believe in any of it,
but it does feel like it would go hand in hand with your current content.
Fully agree.
I do too.
Good advice, and I will be leaning into this.
As your sponsor, I mean, he's giving good advice, you know.
Daily Crypto Horoscope, I think, would go a long fucking way.
I mean, it's up for...
Marion had a lot of sponsorship, I bet.
All you got to do is just give it to chat GPT.
And see what it comes out with every single day.
Can we do one right now?
We just did.
Cornmoon.
No, no, no.
Ask chat GPT.
Can you give me a... Say I am a crypto influencer.
Yeah.
Okay.
I love doing that.
Oh my God.
It's so much fun.
I love that.
Okay, let's go.
And I would like to make more content where
uh crypto meets horoscopes can you provide a daily i am a crypto influencer and i would like to what
create more content around where or yeah around crypto and horoscopes
scopes can you what can you provide a horoscope for today
Tuesday, the 26th of August
2025
26th of August
great prompt, man, though, great prompt
great prompt
this guy
I mean, this
this is gold, I did my own little one
I'm an Aries, and it's telling me, you're feeling bold
watch for breakout moves and high beta tokens like Sol or AVAX.
What's against me?
Why are we not getting like the-
They're giving you other people.
No, just be like, create one for me.
Create one for me.
What do you mean for me?
Create one for me.
I think they're giving you like other ones.
Oh, okay.
Yeah.
Oh, here we go.
This is good
oh every day he should make one for all the different horoscopes
like here's your crypto yo like here's your what's gonna happen to you in crypto
based on your horoscope if you're aries you know like i'm a virgo what are you guys you're a virgo
small details big profits looking to overlook tokens and undervalued NFT floors.
Rock Radio NFT is coded.
Whoa.
This is coded.
Literally, we undervalued NFT.
Far coins maybe overlooked slightly.
Far coin overlooked, small details, big profits.
I like your cancer.
Oh, that's cute.
That's probably why we get along.
Vanessa and Dan, your cancer.
Discipline is key. Don't let FOMO drive you DCA's your super bad cute. That's probably why we get along. Vanessa and Dan are cancers. Discipline is key.
Don't let FOMO drive you.
DCA is your superpower today.
That's very you.
I was tweeting about DCAing earlier today, you know?
And what is Tyler?
I'm Aries.
Aries.
You're the market's spark plug.
Bold trades may...
I read that differently.
I'm sorry.
Yo, look at that.
You're the market's butt plug.
Bold trades may pay off.
Wait,
but don't over.
Dude,
this is so accurate.
Abstract memes.
Abstract memes.
Is that abstract coded?
Man.
Dead as though.
Like,
should we post this every day as a joke?
This is great,
by the way.
I think this is incredible.
watch out.
Astro crypto alpha. Lucky signs today. Leo, Aquarius? This is great, by the way. I think this is incredible. Oh, watch out. Astro Crypto Alpha.
Lucky signs today.
Leo, Aquarius, Capricorn, and Pisces.
Expect abundance and good vibes.
Market mood.
Optimistic, but volatile.
Great for bold plays.
Risky for over traders.
See, this means golem acts long.
Post caption idea.
The stars are bullish.
Which sign will ride today's cosmic pump?
Drop your sign.
Favorite coin below.
Hashtag Crypto Horoscope. Hashtag astro alpha.
There is a room in the market for this.
Astro alpha sponsored by Yeet.
Yeah, I'd sponsor this in a moment.
I'll sponsor it as well in Myriad, so we'll double it.
We'll double it.
Incredible.
By the way, Mando, I noticed you've been drinking a lot of coconut water.
Just so you know, it's not good to have it every day because I'm a big coconut water guy no not not every babe what did you say about coconut water today
babe she's gone uh but she's literally on my way back to the gym Vanessa was
telling me about this on the daily is not that good but but it's great. Anyways. I would have liked 50 cartons
of this thing. You definitely should not
be drinking it every day.
That's what my E-thrate went into.
I am now a Vita
Cocoa distributor
for the European region.
Looks like P.O. is
eating bull testers. He's just really leaning into this.
So fucking bullish.
He's like the David Goggins of crypto, though.
He bullposts Bitcoin and OpenStock
and then Wild.
I love PO's arc, dude.
I love it.
Like, bovine...
Is he drinking, like, milk cum or something?
Bovine colostrum.
Is that cum?
No, no.
That is the equivalent of breast milk, it's like the just had a cow
uh sorry a calf they would uh you they would create colostrum oh i thought he was drinking
cow cum like it looks the same we're not right there just yet but i think we're not far off
i mean he's about to eat fucking testicles. I mean, he's definitely going to be drinking comp soon.
We love PO, dude.
We love PO.
There's nothing against that.
Damn.
What are we supposed to do on the show again?
I got carried away.
Open stock.
How about this?
Let's just pull up this chart. Let's just go around and talk more POs back.
It's up 59% in the last week.
We have a friend who's really deep.
Actually, a rug radio whale in Holder.
What is open stock?
Open is the one Harold talks about all the time.
It's been taken over by CT.
It was a timeline.
Like, Finn tweet.
And they literally got the CEO to resign.
And it's like an insane fucking story, right?
Tyler, do you want to take this?
It's a meme stock.
Basically, it's like the Carvana of real estate.
And they had a real business.
And then I don't know the full story.
Something got messy.
And now people are just running with it as a meme stock.
They got like the CEO to resign.
Someone else is now in charge.
And it just feels like a 2021 meme stock play.
But it does have a real company tied to it.
Man.
Corn moon.
Yeah, so yeah.
So basically, there's this guy and there's like a call to action to like get the
co fired and i think it was a she actually resigned uh based on like the pressure made by
fin tweet and and harold is actually really big in that i think wiz is as well by the way
um they talk about it a lot like every day. And the target is $82, apparently, per the timeline.
And Kanye is claiming that his coin was fake.
Who?
Oh, I did not see that.
I did not.
Let's get right into the show, right?
Let's talk market.
Let's talk this.
Shout out to Wallet Connect, at Wallet Connect, on X, and Telegram, Save, and World.
Next, also Cracker Pro.
We love you guys.
Pro.cracker.com.
Make sure you sign up.
Pro.cracker.com. Actually, the best sex out there let me tell you i tried it it's great
sex so product cracking.com it's a good call out actually right cracking should just ask me to
switch to that anyways um yeah better let's talk about this i mean the show started i don't mean
to play jingles kanye's what i just saw it now. Kanye West claims his Instagram was hacked
to promote a fake crypto.
Shut the fuck up. What's his Twitter handle again?
It's Yee, isn't it?
Is he still got Twitter?
Yeah, it's all on Twitter.
It's very hard to find. You can't search it.
No, it's not Yee.
It's Kanye West, I think.
You can't search it because it's super
shadow banned. Yeah, I found it.
Let's see.
Oh, here it is.
Oh, no, no, no.
He's still claiming the real project.
Oh, okay.
Oh, okay.
He's still claiming the other one.
So the Instagram has been hacked.
It's following a fake coin.
The official project is Yeezy Money.
How is Yeezy Money doing, by the way?
Is it doing good?
It's $5.56, $73 million market cap.
What came out yesterday, Bubble Maps reported Hayden Adams made $12 million.
while it's linked to him.
Well, it's linked to him.
Crime pays.
Crime pays.
So he got his funds unlocked by the judge
and then just
immediately
snipes and helps launch
easily.
They help launch it, yeah.
Clearly.
That's crazy.
Calcer Ventures wins again
while they're hanging in Monaco and fucking
South of France all summer long.
Rugging you motherfuckers.
And they're never going to spend a day in jail.
Crime pays.
Right now, as you know.
What?
Yeah, dude. Crime is pain.
That's for sure. Crime is pain.
Should we commit crime?
No, right? Probably not.
What? No.
It's a bad idea. Take it back.
You know? Good guys don't always finish last, right? Maybe not. That's right. What? No. It's a bad idea. Take it back. You know, good guys don't always finish last, right?
Maybe not.
Maybe not.
Like, we're the good guys, you know?
I mean, I like to think we are somewhat good.
So I hope that doesn't happen.
Anyways, Mando, let's go straight to you.
Let's talk a little bit about the markets.
I mean, what's going on?
Bloodbath.
Bloodbath.
Double top. Triple top., quintuple top.
It's over.
I mean, Bitcoin's trading sub 110.
A lot of structures broke actually yesterday.
All jokes aside, looks like a lot of the structures broke yesterday.
What's your general opinion on the market here?
We broke under our lines now.
I remain bullish.
As I said yesterday.
I mean, Bitcoin is down 1% here from yesterday.
From yesterday's show.
Just to be very clear.
So it wasn't some insane move.
And ETH is back to where it was.
Oh, ETH is green.
Right.
Oh, wow.
I mean, ETH kind of looks like a good chart.
Salon kind of looks like a good chart right now.
Yeah, it does actually.
How's the TCD?
My link. My link link which i bought um it just it just feels like bitcoin's actually the one most in the mire i would say and the market's semi freaking out occasionally when it continues to go lower
but then it's kind of just holding its own you know like eith eith is up again today despite bitcoin being lower
bitcoin dominance is broken down to like 58 and a half so it feels it's just like bitcoin dominance
going down basically um i i've said before look i like bitcoin i posted that thing yesterday right
like we're having a big deviation here from global liquidity,
albeit there's been some big transfers out of ETH into Bitcoin.
I like those three coins, Bitcoin, ETH, and LINK
in terms of the majors, let's say.
And I do like Solana.
So honestly, just own JLP, guys.
Like stop listening to it.
Stop trading.
Own JLP.
If you want to get some leverage.
Don't stop listening to the show, but do the JLP thing.
No, no, no.
Stop listening.
It's August 26th.
What are you doing?
Like, what are you doing right now on August 26th?
Listening to us.
Farouk's chest hair is bare.
All right? We're doing...
Look at his pump. Come on, look at his pump.
Come on, come on, come on. Farouk is jacked, by the way,
these days. I don't know if you guys have seen.
Don't fuck with him at any crypto conferences.
This guy is jacked. I'm ready to
throw hands.
You can go onto Camino right now.
You can go onto Camino right now. If you want to get
really degen, you can like, you can
loop your JLP, right?
And you can, I think there's a multiply section
of the app.
There's a multiply section
and you can loop your JLP for 74%,
even higher.
You can do up to 6x leverage on JLP.
You sound like that meme.
There's a Jet 2 holidays.
Today, I'm getting 50 off a person.
Just lever up the JLP.
It's not going lower here, all right? I'm getting 50 off a person. The JLP is not going lower
here, all right? I'm telling you.
And ride off into
the sunset, guys. Why am I all in
Farcoin right now? You can get 83%
APY at 6.2x
leverage. Oh my god. Farcoin's at
$700 million.
That's a nice APY.
Right? And that's just the
APY. You can go...
It still owns majors, right?
Just what are you doing?
What are you doing, guys?
Come on.
Let's stop fucking around
and getting liquidated.
Do that with JLP.
If you want to degen,
do it on Myriad.
Do it on Yeet.
Good call.
Just stop losing money.
Stop losing money. Stop losing money.
I like that.
JLP's at 18% APY.
Look at that.
Look at that.
Look at that breakdown.
Beautiful.
And you can borrow.
This biggest drawdown has been like less than 30%.
Tyler's interested now.
Tyler's in.
Yeah, I'm figuring out what kind of drawdowns do I have to fade to go 6.25 back?
That would be like a daily 18% candle, right?
They would have to take you out.
Can you long JLP on Hyperliquid?
But what you can do is deposit it on...
You can take your JLP and deposit it on drift, I think,
and then lever trade against it if you really want to feel like...
Yo, hey, the astrology did tell Tyler, right?
Aries to not over leverage but to take risks.
Yeah, dude.
Maybe your time to shine.
Wow.
JLP, y'all.
Pay attention.
Wow. Are you really going gonna beat that no i know dude i think to beat it is is futile at times like why did i not swap to jlp last month god damn it fuck
oh my god yeah well
look I'm gonna have to wait for the
JLP trade Bando because
Farcoin's at $783 million right now
never too late which is not great
you know yeah but if the whole market
comes up the way you see it I think
Farcoin hopefully right
it goes higher so
it's not great
well it's not great J Wow. It's not great.
LP started the year at what level?
4.2, I think.
Yeah, 4.2 exactly.
And now it's at 5.2.
So you're up 25%.
And chill in, dude.
Just do it, guys. Come on. Just do it, guys.
Come on.
Just do it.
Okay, let's do that.
JLP.
Anyway, so you remain bullish.
You support bullish.
I love that.
This is all I need to hear.
Mark is actually not looking that bad.
Versus the timeline,
I don't
really look when it's really red like i told you guys i just like kind of tune out also we've really
been really busy with myriad like now that prediction markets are hot like capturing all
the attention we can't like i only log into bullpost myriad like 15 times a day um so there's
a couple things happening i sent you a link a link Oh yeah, let's talk about that
The big whale that's been
This is the Bitcoin whale, but it looks like he is still active
They are still active, but it looks like they might
be almost done
So this is the whale who effectively
had 24,000
Bitcoin and has been
deposited on Hyperliquid
and has basically been converting it to ETH
This is 2.5 billion,
so a pretty sizable position. It looks like he's only got 900...
Wait, let me see. Wow, it looks like he's down to 627 Bitcoin. So out of 24,000, he's got 600
left. Did I read that right? That it's someone that was originally had 157,000
Bitcoin?
I saw that as well. I haven't
independently looked at it, but
yes, this is...
It's not like he's moving his whole position, right?
This is like
15% of his position when she is
swapping Bitcoin to ETH.
Damn, Tom Lee really got to him, huh?
Well, interestingly, Tom Lee in his quant,
he came back last night, called the bottom again.
I posted it last night.
You can also find it on Tom Lee's Fundstrap page.
I think he'll get it.
What time did he do this?
Let's see.
He did this on your page.
Right around 8 p.m. last night,
it says Mark Newton back at it,
calling ETH bottom to happen in the next few hours.
I think that tweet was probably enough
to move the market a bit,
at least with some CD folks.
Maybe not.
But anyways, so far that has been the bottom.
I mean, ETH was 4,300 at the time
it was a little higher
but it's 4,500 now
and basically shot
straight up
were Liddy being given the calls
I'm a little more dubious
of this one really playing out because it just feels
too easy like we're not going to be given
this like gift again.
But man, if it does play out, then Tom Lee, Tom Lee mode is very real.
Also, he didn't just call bottom.
He called moved to 5,100 and perhaps up to 54.
So we'll see if he's right.
Yeah.
Wow.
It felt like a bottom yesterday
On CT
How many of these, right?
Like last week was the same thing, man, though
And then yesterday
Last week, there was fucking wars on the timeline
And then he's hitting all-time high
The thing is, what you're seeing is exactly the same thing
Which is just people getting liquidated
It's a war on the timeline The thing is, what you're seeing is exactly the same thing, which is just people getting liquidated.
It's a war on the timeline because we dropped 10% and that liquidates a billion dollars.
Like, minimum, right?
They don't even show the Binance numbers.
We're probably talking about multiple billions.
Bitcoin dropped 1%. That just tells you that, like, and then you see, like, 4k likes for a post like this is the worst
cycle ever there's like guys we are literally 10 off the highs in bitcoin and e right salana's
even touched 200 right which was like no one hated for a while hype is 10 off the highs
it's just a bunch of coins that people are either lever trading or they bought a bunch of
It's just a bunch of coins that people are either lever trading or they bought a bunch of old coins.
Meme coins in particular have had a very bad period.
Terrible.
Very bad.
Where's the total meme coin market cap?
Because we did use some coin market cap that we followed in, right?
Tyler, we were like, oh, it's looking good.
Like, it had a huge comeback.
And then, like, fuck, it's looking terrible again.
Yeah, just look at the Pepe.
Pepe has not moved.
At all.
Right?
Puck has not moved.
Bonk has basically reversed everything
that it made. Pengu's even back down
again. How do you check
the mean coin? Oh, here. Here. Sorry.
I got it.
It looks okay.
Totally zoomed out.
I mean, it did a high, high here
and low, low, but it's not insane either, right?
It's not great.
There's also a world where this is somewhat disconnected from the trenches.
The new coins is bad right now.
I think you're seeing the narrative that the meme coin trade is over
and that people are getting tired of it.
There's no one left playing.
It's just descending roller coaster loops to zero.
I feel like it's hard to read
too much into that because this is always
the time of year where it's the quietest.
And it was just like this last year.
So it's hard to call
the death of meme coins forever, but I think
this current
permutation of it looks like it's
going down. There's no one really playing the game.
Large Latina model wasn't the reverse that we that we need enough to save to save us it's funny
because like usually when people start playing new apps and stuff is usually when like you can
tell the trenches are down so bad like football.fawn like killing it usually means that like
there's like people just don't have any trades going on because like it's much more friction to trade like let's say a game than like uh a meme coin for people but
they're like balls deep until like you know pun intended get it uh into like um you know trading
a game and even like now everybody's talking prediction markets like all the big trenders
like oh i'm putting prediction markets because there's better odds there good for me in our
business uh but you see that people will spend more time now looking into different things in the prediction markets because there's better odds there. Good for me in our business,
but you see that people will spend more time now looking into different things
because they're not going to do perps.
Perps is where they get wiped.
So, hey, if you're in the trenches,
pivot to Yeet and Myriad and Brand Coins.
There you go.
Myriad Yeet Act.
Myriad Yeet is not an investment it's just for fun but
you can you can just up jlp and have some fun i like that see oh yeah yeah yes i mean yes
heads up yes yeet is a casino that mando owns and operates and sponsors us so that please
uh gamble responsibly and just have fun but myriad myriad on the other hand is crushing it
we're about to have our best month ever.
So love to see that.
Tyler, was there something else?
Let's go through your list, right?
Fuck it.
Let's just run through it.
We have plenty of time.
I see our homies
at EtherX in the studio.
We'll bring you guys up
in about 10 minutes
and then we'll do some gears
in the end and let's go. and crypto analysis. Vitality on FOMO,
our cause to get paid.
Great to bash the bears.
Yeah, folks, crypto majors
are red on the day,
but rebounding.
Starting last night
after news that Trump
has fired Fed Governor Lisa Cook,
though she is not accepting that.
So a bit of a battle
playing out between those two.
Bitcoin down one half percent,
one ten thousand two hundred. We've got eight down three percent, forty those two. Bitcoin down 1.5%, 110,200. We've got ETH down
3%, 4,500. We've sold down 4% at 190. I think we saw over $550 million in liquidations across
Bitcoin, ETH, and Roche on Monday. That total could have been higher as well. The ETH ETFs,
on the other hand, pulled in 444 million in net inflows, now on a three-day inflow streak around $1.06 billion.
So those are flipping positive.
Again, Bitcoin also flipped positive on Monday for inflows.
So we'll see if that trend continues.
As I mentioned, Tom Lee's quant called the bottom of ETH to come Monday night with upside near $5,400.
We'll see if that plays out.
Two pieces of Chainlink news.
Chainlink announced a partnership with Japan's SBI group to advance tokenized assets and stable coins.
And then Bitwise filed for a Chainlink ETF with the SEC.
We're having a long list of new ETFs coming in by the day as well.
There was one for a Trump coin ETF this morning as well.
Interesting stat.
I saw every category of investor reported by Bloomberg added
to their Bitcoin holdings in Q2. Wow. The ETF analyst, so we will see if that continues
in Q3. A few pieces of breaking news this morning. Trump Media is launching a CRO,
a Crow Treasury with 19% of the market cap tokens. So they're getting a big chunk.
And then breaking right before the show,
Donald Trump Jr., his VC firm,
has invested in the Polymarket.
So prediction markets continuing to be in the headlines this week.
In corporate treasury news,
SBET bought another 55,000 eighth last week.
They have nearly 800,000 now,
plus $200 million in cash on him.
Wow.
Three Solana treasuries yesterday.
So Sharp Technology
raised $400 million to launch a sold treasury.
Pantera Capital, $1.25
billion. They're going to convert
a public company. We had
DFDB announced another $125 million as well.
So a lot of action in the
sold treasury news, but some FUD.
We'll talk about the FUD later on
as well. And token
airdrop and protocol news, Hyperliquid announced several network upgrades,
along with increasing their percent of revenue for buybacks to 99%.
So they are now using 99% of their revenue to buy back that hype token.
We had football.fund founder Adam.
He broke news on our show.
He did.
40% of fees going to buybacks.
He also teased more sports coming.
He said American football is coming as well.
So clearly some demand for that.
And then Kaido launched an ICO for Boundless yesterday.
They're raising it at $290 million.
And then a new leaderboard for OG Labs.
And rounding this out,
a few points to write on the day.
We talked about Hayden Davis.
He made $12 million off the Yeezy token.
And Pudgy Penguins announced a new soulbound token for early players
of its Pudgy Party game on Polkadot.
So go check that out.
I believe that claim is still alive.
Folks can still go sign up.
Historically, they have rewarded soulbound tokens, token holders.
So perhaps a trend to continue.
That's the rundown.
All right.
I mean, where do we even start?
The soul dance was the rundown. All right. I mean, where do we even start?
The soldats was the biggest story of the day. I thought
around
$2.75 billion in
combined potential raise
buy sold for these treasuries across
the three or four
companies. I did see some
FUD out there, though.
It looks like at least one of these, and I'm not sure which one it is,
is effectively going to be buying sold,
locked sold tokens from like the foundation or early investors in exchange for
stock shares, which will be liquid on the market.
So not the exact same as buying sole on the open market.
So I think be aware of that.
Need to do a little bit more diligence on exactly how this is playing out.
But perhaps the sole debt's not going to be quite as bullish
as it seemed on the surface because of that.
Still need to look into the exact amounts and all that.
But I think there still is some signal to be had from three, four major institutions joining the sole debt trade.
And I don't know.
I still think it's bullish sole overall.
I mean, I don't think it's going to be
bearish.
I saw that one.
This was a ton of comments yesterday on the timeline when you
were reading it on the show.
Yeah, and I did
understand it on the timeline. Then I saw there were some
clips. Some of the guys went on
TG Stream and apparently had been talking about
this.
I just hadn't had a chance to
dig into the details yet.
Interesting.
Doesn't seem great that folks with locked tokens would be able
to move then.
So, they're
buying Kyle Samani's tokens.
That's how they're all
going to operate, by the way.
How these things operate is that they go to
because we've seen this these sort of deals they go to people with big token supplies and say hey
you contribute a large amount of what you own and then we'll raise external capital so like let's
say you want to raise 100 million often they'll do it alongside people that can contribute like
up to 50 and then they're just raising 50 of the journal.
And then it creates this vehicle that like that person can essentially sell the shares equivalent.
So that good or bad, man, though?
I think it's a little bit sneaky and I would be wary of this.
So like for and as in like not maybe wary is the wrong wrong word because they are gonna most of these
people would have sold it anyway but this idea of a treasury vehicle actually is like in some ways
a way for like vcs to get out of their bags and this that's the same for a lot of the token
like the foundations and stuff so like if you see foundation partnering with, I don't know, random L1,
that essentially is the team often getting out of their,
their tokens.
Now the bullish case for this is that sometimes it makes the assets seem more
institutional and it makes it seem like there's a,
some credibility to it.
And it's not like those assets are getting sold
unless something really bad happens
or like MNAV goes well below one.
But it's not just like,
oh my God, there's this amazing treasury Bitcoin happening.
Like that's often just a VC has found an alternative way
to get out of hundreds of millions of dollars of sold.
That makes sense.
It's all with like Adam Back's Bitcoin treasury, right?
He basically contributed like 50,000
Bitcoin or something.
Absurd amount.
And they'll say,
we'll never sell this. So the person
owns
who's contributing can be like, okay, that's
good.
But then they can do a share sale of their own shares.
So it's kind of like them selling their Bitcoin or their ETH.
We've seen a lot of rumors about this for NFTs
and for certain altcoins.
And then that person can maybe have plausible deniability
about basically selling down their bank.
I do wonder if it enables a little bit more
financial engineering tactics.
Is it easier for Adam Beck to get a loan
against stock shares of the equivalent amount?
100%.
You can do that with Bitcoin right now,
but I'd be more wary about it for things like altcoins.
Could you get a loan against like
Story Protocol?
Whatever that does.
Yeah.
It makes sense.
There's nuance to this
and it's important to be aware of it.
Interesting. So it's not
necessarily bad, but it's also not great.
I guess it's more of the vision of it.
Well, I think the part of it is if you see the service headline,
$3 billion for soldats, and you think that's going to be all just...
Yeah, it doesn't even mean bought.
...plowed into the open market.
That's not the reality.
The main thing you'd be looking for on the back of that It doesn't even mean bought. Plowed into the open market. Like, that's not reality. Yeah.
The main thing you'd be looking for on the back of that
was for those vehicles to do well on the stock market
and then then to announce, like, a big shelf
and be like, hey, this has gone well.
There's demand for this.
We want to raise another $10 billion to buy Sol.
That's kind of what happened with ETH.
I don't know, but I don't think
you might
know this better, Farouk,
but I don't think many of
the ETH vehicles had contributions
except maybe Sharpling.
Did Joe put any of his own
ETH into Sharpling?
I don't think he put his own ETH.
I don't want to misquote either.
I don't think it was his own ETH. I think they want to misquote either. I don't think it was his own ETH.
I think it was raised.
Yeah, Bitmon wouldn't have.
I don't believe Joe would do that, by the way.
Right.
Joe's never touched his ETH bag, by the way.
The ETH ones are more pure.
Yeah, these ones are more pure.
Joe's never sold his ETH bag, never touched his ETH bag.
He's crazy diamond-handed, bro.
Like, insane.
Probably one of the only founders out there with Tali never did that.
So I don't believe they did that.
Yeah, I think they're more pure like you're saying.
Leave it to multi-coin.
Anyways.
That's a special right there.
All right.
So that's interesting on the that front.
Is there anything else you got that we did not discuss?
Tyler?
That was mostly it.
The hyperliquid fees was a big deal.
I don't know exactly what percent they were using already.
I think it was like 96% maybe.
Okay.
But now those are up to 99%.
And I just continues to be, you know,
one of the single biggest winners during this volatility.
I saw these liquidations.
Clearly, people are going long and short on hyperliquid.
We even had this huge Bitcoin whale come in, right,
and do $2.5 billion over on hype.
So that token is looking pretty good.
I think it's quite amazing that he used hype, by the way.
It's pretty good. I think it's quite amazing that he used Hype, by the way. It's pretty cool.
I think it points to
somebody wanting to be loud.
Of course, right?
Of course.
It's someone who wants...
It's got to be someone.
In general, someone like this
would typically do it more privately.
They'd perhaps split it across more wallets.
You can do it on Binance.
You can do it on a Stacks, right?
You would do it either via a market maker.
That too.
Or via a centralized exchange where there's some layer of privacy.
He's done this pretty loud and notably.
Ether has massively outperformed again.
So which Ethereum OG was it?
Oh, that's a good way of thinking about it.
Yeah.
So maybe, yeah, maybe, maybe Joe, maybe Joe's got some, a big Bitcoin bag.
Papa Joe.
Papa Joe. Papa Joe. Papa Joe.
Oh, man.
There's another chatter about how rich this whale is.
This is actually a person, not like.
It's a human being.
A company.
I think it's a person.
It had 150,000 Bitcoin or something.
That's crazy.
God.
No, I already feel poor every day hosting with Mendo.
And then there's like someone like that, that we report on.
157,000 Bitcoin.
Yeah.
Anyway, speaking of volume, speaking of large size, speaking of TVL, speaking of all of that,
we got Tranter from EtherX in the studio. I'm'm gonna bring him up right now yo yo yo tranter
what's up hey good morning how you doing good morning good morning very well and uh i really
enjoyed that the conversation had been uh focusing on joe just before i came on so that's great
exactly right consensus focus yeah excellent segue exactly right you guys we're all part of
the same little fam here man you guys are damn, what are you, 200 million TVL or some shit?
We'll get into that.
Yeah, just short of, yeah.
It's been growing real quick.
We've been pretty excited.
You guys have been a massive launch on Linnea.
I mean, we covered it, obviously, because we launched the Mirrored Markets on Linnea.
And then it was like 90 million TVL, Tyler, before EtherX launched.
And you and I were like, yo, this TVL is going to blow up.
And that was before the EtherX news as well and i checked back like i think yesterday was like 575
it's probably higher now so the tv of linia is just going crazy and declan who we had on the
show is hinting like you know we'll 10x that so i'm like yo are these guys gonna tge with like
five billion dollars in tvl on the chain i don't know but quickly uh transfer for the people are
not familiar with you with etherx why don't know, but quickly, Transer, for the people who are not familiar with you,
with EtherX, why don't you give yourself a little introduction of who you are,
what you do, and what EtherX does.
Perfect, perfect.
I'll keep it simple because the background stories
can be a little bit boring.
We started off essentially,
and I've been working with The Kingdom,
which is a series of DEXs that have launched on,
really started on Arbitrum,
and it's a real growth of growth from, you know,
if you think all the way back to Henri Cronier, the original B33.
It's, you know, it's iterated, it's iterated,
it's gotten better and better.
And, you know, for anybody who's familiar with really
the Aerodrome model, in many ways that's very similar
to what EtherX is doing.
So Linnea itself, right before we launched with EtherX,
it was Denial, which was us, our previous
DEX name, and a couple of other DEXs as well.
And, you know, in the true sad times of Linear, we were looking at daily volumes of like 5
million, basically nothing.
But since that time, again, we partnership with Declan and the full stack of ConsenSys,
stack of consensus, you know, linear, MetaMask and all that.
you know, Linear, MetaMask and all that.
We can talk about that in a minute too.
We've really relaunched to create EtherX,
which is a far better aligned Metadex play,
which is really, again, something we can talk to.
But it's the kind of play that, you know,
everybody comes together to build the ecosystem.
So Rex launches, we've got, you know,
excellent staking models, et cetera.
And you can see how much things have really grown
because we're now looking at value volumes, you know, 10, 20 times what we were looking at, you know, a monthaking models, et cetera. And you can see how much things have really grown because we're now looking at value volumes, you know,
10, 20 times what we were looking at, you know,
a month and a half ago.
So huge growth.
And, you know, we're looking to be just the first step clearly
in what is like a, you know, do I say a crescendo or, you know,
up into the right sort of vibe as we get towards linear TGE,
SBED, everything else.
So, yeah, we know we're on the right track.
It's, I guess, just spreading the word now is kind of the point. So, yeah.
So what kind of, like, let's just tell her,
like for the people who don't like what kind of numbers are you talking about?
You said I'm at 10, 20 more X more volume. Like what are we talking about?
Yeah. So, I mean, like legitimately before we launched,
we were looking at about, you know, daily volumes and sort of, in fact,
you know what the highest performing pool was a fight between us and another
decks at a 1.9 to 1.6 million per day.
And that was your ETHUSDC, which is, of course, the powerhouse of NELP.
And if you look at that now, we're looking at literally 20 million per day on that pool alone.
Wow.
So right there, you're looking at more than a 10x on that pool.
on that pool.
And then he starts to look at the significant increases in TVL.
And then you start to look at the significant increases in TVL.
I mean, we were looking at about 9 million TVL on Nile, for example,
before the relaunch to EtherX, up to 172 million now.
And we only launched three weeks ago.
So you can see how things are growing super rapid.
Yeah.
Sorry for a little bit.
I'd love to hear a little bit more about the Metadex story
and how the minds came together.
Yeah, don't get me too excited,
so feel free to tell me to disturb you when I go too much.
The theory is, right, so you've all heard of Aerodrome, clearly,
and the base play, et cetera.
They really started, and how they started is up to them,
but that was a series of market buyers from Coinbase
to sort of build up their voting position and build up their own ship would be erin etherx has launched
with the metadex idea at its base right like at you know at its core i suppose i should say
so the allocation from the start of uh of rex token it's 25 percent goes straight to linear
so two consensus so you've got diamond hands they're to consensus. So you've got diamond hands, they're holding already.
And then you've got, of course, treasury, you've got venal holders,
which is how we get back to the community, et cetera.
And then, of course, some of the market.
The reason that's important, you've got the element that controls
the health of the ecosystem, i.e. linear.
They're directing 25% of the incentives.
And instead of them needing to bribe mercenary capital,
all they need to do is now buy their own token to invest in themselves so that so that cognitive leads the
weird thing right so don't think of like uniswap when you need merkel you need to just bribe your
lps don't bother buy the token the emissions token in the first place that actually invests in
yourself you own an asset now and you use that to continue the flywheel yourself.
Now, that only really works, of course,
if you have a good alignment
with your ecosystem in the first place.
And that's what we have with Linear and ConsenSys.
And again, you can see how it fits then
because you've got a MetaDex plate,
but then you've got the full sort of vertical integration
by having ConsenSys, SBET,
all that capital coming in,
native restaking in October.
And then you start looking at Linear TGE coming in, of restaking in October, and then you start looking at linear TGE.
Coming in, of course, MetaMask for wider distribution.
So hopefully that all makes sense.
But does that answer the Metadex question there, Tyler?
I think I did, but it does.
It's a powerful combo.
Yeah, yeah.
Yeah, exactly.
Wow, this is really good.
That's some real OG shit right there.
You guys built some cool stuff, and now you're killing it with EtherX.
So how does EtherX work?
Like you said, you took some 3.3 from Andre Cronier,
and then obviously I think most of our listeners are familiar with 3.3,
but there's a whole – I hate the term flywheel.
There's good and bad news stories about it, right?
Yeah.
Yeah, I think the thing to, I guess, remember now is like, the old system was
really emit the token to death. And, you know, it really became problems. And if you look at
some of the old famous actors from back in the day, and how they sort of killed the old
Sololi model, that's, those lessons, I guess, are long in the past now. So what we're really
looking at now is the way this system works is you've got farmers,
LP providers, and they compete to get the rewards, right? They compete to get those
emissions. By competing, they're providing the best liquidity, which means people get the best
trades and then more people come to trade and hopefully that'll make sense. Now this, again,
I know there's nothing more boring than talking about LPs, but what is interesting is the ability
to sort of, you know know for people to profit often
right because people like to make money and that's kind of the key and that's what that's
what thing is about really right everybody wants to be in these pools to make money
and so what we've worked out is okay the old system where you had to lock into a ve nft you've
heard of that of course like the ve aero the b solid and all those other things the system now
is not to do that.
So we don't have a four-year lock.
We've removed that friction.
You've got two options.
You can exit instantly at a 50% penalty,
or you can buy into what's called Rex 33,
which is like a wrapper that auto compounds and optimally votes for you every week.
So no need to go through a lock for a long period of time.
Remove all that friction that made it hard for users,
but most importantly, removes the thing that made it hard for institutions to buy, right?
So if you're an institution, you can't go buy something that's locked for four years
that you can't sell unless you can find a secondary market.
Now, instead, you can buy Rex 3.3 or Xrex, and you can exit anytime you want,
whilst also earning every single week on your position.
So it's far better aligned for
retail. It means people can use it in lending markets. It means it can be liquidated and
borrowed against, and it also means institutions can hold it. So it has all those things working
for it within this sort of, you know, the 3-3 model. Let me call that X3-3. So it fits nicely
and it still fits the same ethos of 100% of all fees and incentives go to the token holders.
So there's no special, you know special team cliff or allocation that's different
or we skim something off the top,
that's 100% to those who have a token.
Okay.
Wow.
And so how does someone that may be not super familiar
or good at the DeFi stuff,
how can someone partake in this in a way?
I think the easiest, to be honest,
the way you don't have to think about it is probably through Rex 3.3,
not financial advice, et cetera, et cetera,
which of course we all have to say.
But the Rex 3.3 token itself auto votes for you
and it's part of the upside of the linear ecosystem.
So that's kind of the easiest way to do it, right?
So that is the Rex token is our token.
The RECS 3.3 is that wrapper I talked about,
which does everything for you.
So you don't have to think about voting every week.
You don't have to work out the best way
to do your rewards and returns.
You can simply go through the RECS 3.3 model,
which is a real optimized version of it.
And as part of, you know, again,
you're not only invested in EtherX,
but you're really invested in the future of linear too.
So if you're bullish ecosystem, you can use this as your vehicle.
So I'm obviously bullish with the Linear ecosystem.
I think we all are on the show, and a lot of our listeners,
we're excited for the TGE and everything going on there
because it's definitely something we're looking at.
Actually, Tyler and I keep talking about how we potentially
probably want to take the trade when time comes
because these guys, I mean, fuck, 10Xing a TVL is wild, but they're probably going to 10 the trade when time comes. Cause these guys, I mean,
fuck like 10 X and a TVL as well,
but they're probably going to 10 X a second time here,
which is insane.
I didn't hear about the tokenomics from Declan.
He's like,
damn smart guy.
Just so good to work with him.
It's just like,
geez,
this guy gets it.
Like not only can you do product and development,
like he can also do business.
He came on a show like a week after that.
And like the 85 15 split
is crazy because like you know they were saying like look at who owns linea like who's like like
we don't need we're good you know like we got sharp place we got you know joe lubin etc it's
like you know i don't think joe lubin needs more ethereum uh and uh that's true that's true and
right and they were like even joe right he He was like, we don't need investors, right?
And then there was a whole thug life blast that came on him on the clip that I saw, which
was hilarious.
But so what's next for your part?
So first of all, actually, how deep is your partnership with Linea?
Maybe you can explain quickly what that entails.
Clearly, you're the biggest dog on there alongside the Ava and some others, but you guys are up
there.
And then what's next for the partnership between Linea and EtherX?
Yeah, good point.
So I'd say, to be honest, we're Linea's vehicle to grow.
That's as simple as that.
So if you want to grow, this is the system.
And they have 25% from the start.
And it doesn't get much closer than this.
Like we're kind of like almost an offshoot of them now,
but you know,
because of how much,
you know,
how close integrated we are.
What does that mean for the future?
Well,
I guess to be honest,
you're going to start seeing when linear TGE comes,
there's already,
of course,
you know,
ongoing campaigns,
bring more TVL in,
but when linear TGE comes,
that's when you'll see obviously crazy fees and,
you know,
LPs being hosted.
And so when you start to see the linear token paired up
against a couple of other tokens on Etherex,
you'll see incredible volume.
You'll see REX stakers and REX33 holders getting to keep all those fees.
That's how the system works.
So we'll see an awful lot more activity going on.
And then you'll start seeing core pairs really incentivized further in linear tokens.
So I guess that the thing I would say is if you think about you know some other models where
the tokens are all over the place and held by randoms etc you get misaligned incentives right
but in this instance if linear says no no we need to provide additional you know rewards to for
example Renzo, so for the easy ETH or Etherfire with WeEth or, you know, Lino,
you get my point, right, you know,
listing out whatever the partnership may be.
And, of course, USDC ETH, they can overvote on that particular pool
to provide outsized returns to make sure that market participants
can do the best they need to.
So it's like because they have the power to do that,
they can turn the nozzle where they want to
and sort of ramp up the incentives.
And they can do that in partnership with us in discussions
or alternatively or by themselves to promote their own sort
of growth goals.
So as I said, very close.
Okay.
And will also be the most likely place, I would imagine,
to speculate if you're going to have additional yields coming
in from native restaking, you know, again,
a great opportunity to incentivize those ETH pairs is on EtherX and on Aave.
All right.
Yeah.
There you go.
Love that.
Last thing for you.
Last thing.
I promise we'll let you go.
I'm sure you're busy.
We have a market on Marriott.
On India.
Open.
EtherX TVL.
Above $200 million At the end of August
I believe you're currently sitting
At 175
Oops
Probably on your own website right
I see 175
Yeah if you get our page on the stats
page, 175. There you go.
There you go. Yeah, we have a direct on
EtherX.5. What's 25
million amongst friends, eh?
What's 25 million amongst friends?
Let's go. I'm going to pick the yes.
Let's go. I love
predicting
here because, you know,
I like to take a little 20 bucks here and there.
And, you know, we're sharing Alpha on a show.
Declan went five for five on his predictions, by the way.
There you go.
Oh, of course he did.
Of course he did.
Of course he did.
Smart and a nice plug.
Typical.
They're still running, you know.
They're still running, actually.
Like his – one of them was – whoops.
Will Sharpling hold over a million each by September 16th?
I'm up 21% on the position. One of them was, will Sharpling hold over a million ETH by September 16th?
I'm up 21% on the position.
Will Vitalik mention Linea on Limo or X in 2025?
I'm up 18%. ETH to 5K in 2012, I'm up 60% of that.
And then one of them I won,
and one of them I closed,
so I have some more money
because I only had $1 in this wallet
to keep predicting on the show.
But we're good.
So this is it.
Ether X, TVL, both 200 million.
You heard it from the man himself.
Was 25 mil amongst friends.
It's nothing, right?
There you go. I mean, the speed of
what you're growing is probably nothing.
Transer, thank you so much
for coming here, man. Appreciate you.
Thanks, guys. Thanks for having me. See you next time.
There you go. Damn.
I can't wait for us to have a $20 million
TV on our shit.
Coming soon. Coming soon. The Yid code is high. I can't wait for us to have $20 million TV on our shit. Coming soon.
Coming soon.
The Yeet code is hype.
You can hit that bet.
I mean, if Yeet goes up 10%, 15%, that's probably going to pump the TVL too, right?
I mean, I hit the yes.
I only have $20 on there, but Yeet.com.
Sorry, Marriott, the markets for slash Lineup.
That's obviously Lineup market because they're on Lineup.
But it's good.
There's a lot of good markets on there.
Hype is the code.
Hype was the code.
I think, Charlie, it's working right.
I saw some chatter earlier that some shit was broken.
Looks like the Yido board is good.
We're good to give some anyway, I believe.
Charlie?
While we wait for Charlie, I think that Rex is an interesting trade.
Again, NSA, of course,
and I've entered this trade
myself, but I could do...
There aren't that many ways to bet Millennia Ecosystems.
No! That's it. It's like them.
I'll say the little way, but you can't
really bet on it at the moment.
While you do the picker, just quickly,
one second, Charlie, one second. Let me leave
and come back from the other browser.
One second, one second, one second. All right, all right back from the other browser. One second, one second, one second.
All right, all right, all right, all right.
I'm back.
I'm back.
I'm here.
Joining us back.
I'm here.
I'm here.
I'll spend the minute.
Can you hear me?
People posting Rex.
Rex.
Tyler, can you hear me?
$75 million.
TVL.
Can you hear me?
Comparing themselves to Aerodrome.
aerodrome go check out the aerodrome price action god damn it this is never
Go check out the Aerodrome price action.
works on Chrome this is like the stupidest thing on our playbook there
we heard it from check check can you hear me you're back okay I know I chrome
and stream yard just don't function together. Charlie, I can't see you. Do you see Charlie's screen?
I see the wheel.
Okay, then you guys spin it.
I can't see it. This is so weird.
But as long as you can see me.
Okay, go ahead, Charlie.
Spin it, baby. Let's go.
Let's go.
Fake copy.
Congratulations. Fake copy. Are you here here let's check the djens
fake copy all right let's check his username if you if you close that his oh bill wrecked
that's his kick oh there he is let's go he's here lamb chop baby yo bill wreck you know russo
lamb chop so as i make my way to yeet please pick if you want to go to the tracks and what level.
All right?
Pay attention to the...
Can I get a...
Ooh, yeah!
Can you monitor the comments for me, Ty, while I boot up the Lamb Chop?
Bill Rack.
Bill Rack, we need to know your mode and how you want to play it.
Playing Lamb Chop, do you want it easy?
Do you want it hard?
Track's easy. All hard? Track's easy.
All right.
Track's easy.
Let's go.
Track's easy.
Well, first of all, Bill Wright, congratulations.
You already made $500.
There's that.
And second of all, let's make you some more money.
Okay.
Okay.
I'm feeling good today.
We're going to the barn.
Oh, no.
What the fuck, Mando? What the fuck, Mando?
What the fuck, Mando?
Hold on. I'm texting him.
Hold on. Mando, what the fuck, bro?
We're going to run it back.
We're going to run it back.
All right.
All right, Bill. Hold on.
I feel like I wasn't focused.
Here we go.
Here we go. Here we go.
No way.
What?
Twice?
Twice in the first spot, Mando?
Really?
Mando.
God damn it, dude.
Well, the boss man's not here to give us more money.
Dude.
I guess he stays through to his name.
Bill Rack, dude.
That was on easy, y'all.
That was easy.
It was on easy.
I kid you not.
You saw me select easy mode.
You can go to the replay.
And it looks like he got wrecked twice.
On the first go, it's not like it's our fault that we're trying to go to the tracks, Tyler.
On the first go.
Yeah, we didn't even really have a chance to play.
Wow.
Sorry, Bill, but he's been great about it.
He already said thank you.
Let's see some wrecks in the chat. Let's see some recs in the chat.
Let's see some recs in the chat.
Make sure you all follow us.
And make sure, by the way, you follow our YouTube channel.
What's our YouTube?
It's DJN's Live.
We post the VODs.
A lot of people are asking about YouTube.
So we only go live on kick, right?
Because we want people to go in one location.
But we post the VODs of the shows on YouTube because, you know,
some people want to watch on YouTube after the fact.
So we've been doing this.
We're on Instagram too, by the way.
Our clips on Instagram are booming.
We're everywhere.
DJ's Live is everywhere.
Tyler, I think you have another show in an hour, right?
Under-exposed.
Cool.
You guys have a lot to talk about.
Under-exposed.
Big macro.
Yeah, big macro day.
I'm going to tune into that one today.
So DJ's Live.
You're going to be able to catch.
Jesus is not here, right? so it's Peter UND's
Yep, there you go. There you go. And with that with that with that we'll see you all tomorrow morning
10 a.m. Eastern standard time for another episode of Foam Hour on ROG Radio. Let's go Oh Ah, that was terrible. Thank you.
