Tindorr🚢

I might have an uncle-level contrarian take on onchain options:
UI is NOT the biggest problem stopping mass adoption.
A good interface can absolutely reduce friction, onboard new users, and make options feel less intimidating.
It might even get more people to try the degen side first, like buying 1-day calls because the payoff looks fun.
But I don't think that's where the real foundation of options adoption comes from.
The first users that matter are traders who are willing to learn the basics:
• how options actually behave
• risk and position sizing
• Greeks
• volatility
• basic strategies
•

What is Aavenomics 3.0?
Aave is trying to create a much tighter loop between ecosystem growth, revenue, and demand for $AAVE .
The old buyback model was more discretionary. Those buybacks could be increased, reduced, or paused depending on conditions.
Aavenomics 3.0 is trying to make that relationship more structural.
And this matters more now because Aave is no longer relying on one revenue source.
There are already several parts of the ecosystem with real usage:
• Aave V3/V4 → the core lending business, with roughly $33B in deposits and $13B in loans across Aave
• Aave Horizon → the instituti

Nice to see $AAVE moving up again.
@Aave is a really good example of how much token price changes the way we perceive a project.
When price is down, we tend to overestimate how broken something is.
When price is up, we tend to overestimate how well everything is going.
Think back to Q1.
ACI announced it was leaving Aave after a very public governance dispute.
Suddenly the conversation became:
- Does this create more risk going into V4?
- Is Aave governance falling apart?
- Who is going to handle these responsibilities?
And when the token was also performing badly, every negative development fe

$ENA has one of its biggest tokenomics changes coming on October 5.
And I think people need to understand both sides of it.
TLDR: Unlocks ≠ sell pressure
Under the original schedule, investor $ENA was supposed to keep unlocking monthly until March 2028.
Instead, @ethena is accelerating the remaining original investor allocation into October 5.
Based on the old published vesting schedule, that works out to an estimated ~1.41B ENA, around 14% of current circulating supply, becoming unlocked at once.
So yes, there is a very real near-term supply event here.
But who actually owns that supply matte

Making this post because more people are interested in how Derive V3 actually is.
V3 is basically rebuilding @DeriveXYZ into infrastructure for a much broader financial market.
The easiest way to understand it is through these 6 new features:
1. zkVM + Ethereum settlement
Execution and risk calculations happen efficiently in the zkVM, while proofs settle on Ethereum.
This lets Derive keep exchange-like performance while moving settlement and custody closer to Ethereum.
2. Much stronger portfolio margin
Instead of treating every position separately, V3 can understand the risk of your entire por

The most interesting part of @DeriveXYZ V3 has very little to do with people trading directly on Derive.
It’s about distribution.
Hyperliquid already showed what can happen when an exchange becomes infrastructure for other apps:
• Wallets like Phantom and Rabby own the frontend and the user relationship.
• Hyperliquid provides the trading infrastructure.
• The apps get paid for bringing the flow.
And I think this is one of the more interesting ways to think about Derive V3.
Derive doesn’t necessarily need every future options trader to become a direct Derive user either. It can become the opti

I think a new phase of @pendle_fi has quietly started.
The latest NGI+ market is the signal.
Pendle just brought Partners Group’s Next Generation Infrastructure strategy onchain through Asseto.
NGI+ gives exposure to a private infrastructure strategy spanning 500+ underlying assets across data centers, power grids, energy infrastructure, transportation and other essential infrastructure.
Since February 2024, the underlying strategy has returned 48.8% net, with reported volatility below 2.5%. Its long-term target is closer to 10-12% annualized net returns.
What interests me is what happens afte