Bell Curve Blockworks

In this episode, Mike is joined by Nick Trileski, a crypto options trader at Cumberland DRW, for an in-depth discussion on the current state of the crypto options and derivatives market. They explore the growth of options trading, the psychology around all-time highs, and the increasing institutional demand as evidenced by rising open interest. The conversation also touches on the dynamics of perps versus options, the risks and opportunities in basis trades like Athena, and the potential for continued growth in the crypto options space.
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Follow Nick: https://twitter.com/ntrlsk
Follow Mike: https://twitter.com/MikeIppolito_

Subscribe on YouTube: https://bit.ly/3R1D1D9
Subscribe on Apple: https://apple.co/3pQTfmD
Subscribe on Spotify: https://spoti.fi/3cpKZXH- -
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Sei Labs believes the EVM is here to stay.

By providing the fastest time to finality of any chain, thousands of transactions per second and full backwards compatibility with the EVM, Ethereum developers can try out a brand new design space for their applications.

Try out sei v2 devnet - visit the new sei.io to find out more.
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Uniswap builds simple and secure products that help you swap smarter.
Web. Mobile. Extension. Powered by the smartest protocol in DeFi.

To learn more about the Uniswap’s products head on over to:
https://blckwrks.co/Uniswap
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Get the freshest price feeds free for 12 months. Join Supra’s early integration program for zero-cost access to the fastest oracles and dVRF across 50+ blockchains: supra.com/blockworks

Earn $1,500 by referring Web3 projects to use Supra services. The projects get the fastest services for free, and you earn $1,500 for every referral. Learn more at the link above.
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Timestamps:
(0:00) Introduction
(2:03) State of Crypto Options
(7:04) Perps vs Options
(16:53) Perps vs Spot Growth
(21:42) Sei Ad
(22:41) Uniswap Ad
(23:45) Who Uses Options?
(30:18) Volatility of Crypto
(33:35) Psychology of ATHs
(40:37) Institutional Demand of Open Interest
(43:00) Is Retail Back?
(51:25) Ethena's Strategy
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Disclaimer: Nothing said on Bell Curve is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mike, Jason, Michael, Vance and our guests may hold positions in the companies, funds, or projects discussed.

In this week's round up the Mike, Michael, and Vance break down Uniswap's fight with the SEC over a Wells notice and the implications for DeFi, as well as Bearchain's massive $100M raise. The risks of hedging altcoin investments using perpetual futures contracts are explored, along with the significance of Circle and BlackRock uniting to bridge traditional finance and DeFi. They also dissect the implosion at lending protocol MarginFi and the fierce competition heating up between Eigen and Carrick in the emerging universal restaking platform space.
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Wormhole is a decentralized interoperability platform powering multi-chain applications and bridges. It provides developers with access to liquidity and users on over 30 leading blockchain networks, enabling use cases in DeFi, data queries, and governance. The platform is trusted by teams like Uniswap and Circle and, to date, the platform has facilitated the transfer of over 35 billion dollars through over 850 million cross-chain messages.

Claim your unique Wormhole NFT at
https://wormhole.com/bellcurve13-1983
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Uniswap builds simple and secure products that help you swap smarter.
Web. Mobile. Extension. Powered by the smartest protocol in DeFi.

To learn more about the Uniswap’s products head on over to:
https://blckwrks.co/Uniswap
- -
Flood is the optimal DEX aggregator, giving users and developers the mathematically proven best price.

Flood is built from the ground up for speed and efficiency, MEV free and redistributes all trading surplus to users, meaning you can earn money while doing your regular swapping.

Join Flood tide campaign!
https://flood.bid/bell-curve
- -
Follow Mike: https://twitter.com/MikeIppolito_
Follow Michael: https://twitter.com/im_manderson
Follow Vance: https://twitter.com/pythianism

Subscribe on YouTube: https://bit.ly/3R1D1D9
Subscribe on Apple: https://apple.co/3pQTfmD
Subscribe on Spotify: https://spoti.fi/3cpKZXH

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
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Timestamps:
(0:00) Introduction at Warp Speed
(6:24) Uniswap Wells Notice
(18:26) $100m Berachain Raise
(28:04) Wormhole Ad
(29:17) Flood Ad
(30:16) Uniswap Ad
(31:10) Karak Universal Restaking Platform
(40:54) Hedging by Perps
(48:05) Circle USDC & BlackRock CBDC
(53:37) MarginFi Implosion
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Disclaimer: Nothing said on Bell Curve is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mike, Jason, Michael, Vance and our guests may hold positions in the companies, funds, or projects discussed.tt and our guests may hold positions in the companies, funds, or projects discussed.

In today's episode, Mike is joined by Eugene from Ellipsis Labs and Lucas from Jito to discuss the current state and future of MEV on Solana. The trio dives into the philosophical divergence between Solana and Ethereum's approaches to mitigating MEV, with Solana prioritizing user experience and low fees while Ethereum focuses on incentive compatibility and decentralization. They explore the challenges Solana faces with record volumes, network congestion, and the ongoing debate surrounding transaction fees and block space. The discussion also touches on the potential for Solana L2s, the fight against spam, and the network's meme coin mania, ultimately concluding with insights on the delicate balance Solana must strike between performance, decentralization, and user experience.
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Follow Lucas: https://twitter.com/buffalu__
Follow Eugene: https://twitter.com/0xShitTrader
Follow Hart: https://twitter.com/hal2001
Follow Mike: https://twitter.com/MikeIppolito_

Subscribe on YouTube: https://bit.ly/3R1D1D9
Subscribe on Apple: https://apple.co/3pQTfmD
Subscribe on Spotify: https://spoti.fi/3cpKZXH- -
--
Sei Labs believes the EVM is here to stay.

By providing the fastest time to finality of any chain, thousands of transactions per second and full backwards compatibility with the EVM, Ethereum developers can try out a brand new design space for their applications.

Try out sei v2 devnet - visit the new sei.io to find out more.
- -
Uniswap builds simple and secure products that help you swap smarter.
Web. Mobile. Extension. Powered by the smartest protocol in DeFi.

To learn more about the Uniswap’s products head on over to:
https://blckwrks.co/Uniswap
- -
Timestamps:
(0:00) MEV on Solana
(16:25) Ethereum vs Solana Approaches
(27:34) Sei Ad
(28:34) Uniswap Ad
(29:37) Solana Spam Solution
(36:18) Necessary Trade-Offs
(44:43) Solana UX Degredation
(50:53) Solana Fee Overhaul
(1:03:32) Solana L2s
(1:11:03) Dynamic Block Limits
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Disclaimer: Nothing said on Bell Curve is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mike, Jason, Michael, Vance and our guests may hold positions in the companies, funds, or projects discussed.

In this week's round up the Mike, Michael, and Vance examine the new market structure emerging as fresh capital starts to flow back into the space and debate whether this could break the traditional crypto market cycles. They also discuss the impact of early liquidity on founders and teams through token launches. Additionally, they analyze the impressive growth and revenue numbers from Coinbase's layer 2 Base. Finally, they explore the role of collateral and yield in the crypto ecosystem compared to traditional finance.
- -
Wormhole is a decentralized interoperability platform powering multi-chain applications and bridges. It provides developers with access to liquidity and users on over 30 leading blockchain networks, enabling use cases in DeFi, data queries, and governance. The platform is trusted by teams like Uniswap and Circle and, to date, the platform has facilitated the transfer of over 35 billion dollars through over 850 million cross-chain messages.

Claim your unique Wormhole NFT at
https://wormhole.com/bellcurve11-7554
- -
Uniswap builds simple and secure products that help you swap smarter.
Web. Mobile. Extension. Powered by the smartest protocol in DeFi.

To learn more about the Uniswap’s products head on over to:
https://blckwrks.co/Uniswap
- -
Flood is the optimal DEX aggregator, giving users and developers the mathematically proven best price.

Flood is built from the ground up for speed and efficiency, MEV free and redistributes all trading surplus to users, meaning you can earn money while doing your regular swapping.

Join Flood tide campaign!
https://flood.bid/bell-curve
- -
Follow Mike: https://twitter.com/MikeIppolito_
Follow Michael: https://twitter.com/im_manderson
Follow Vance: https://twitter.com/pythianism

Subscribe on YouTube: https://bit.ly/3R1D1D9
Subscribe on Apple: https://apple.co/3pQTfmD
Subscribe on Spotify: https://spoti.fi/3cpKZXH

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
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Timestamps
(0:00) Introduction
(2:58) Aave and Maker Drama
(23:18) Wormhole Ad
(24:32) Flood Ad
(25:31) Uniswap Ad
(26:25) US Governement Sells Bitcoin
(41:17) Structure of VCs
(46:11) Founders in Web3
(55:00) Liquid Restaking Layer TVL
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Disclaimer: Nothing said on Bell Curve is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mike, Jason, Michael, Vance and our guests may hold positions in the companies, funds, or projects discussed.tt and our guests may hold positions in the companies, funds, or projects discussed.

Season 7 | Episode 7
In today's episode Kyle Samani from Multicoin Capital joins Michael and Hart to discuss the complex dynamics of network effects in the blockchain ecosystem. The conversation dives deep into the different types of network effects at play, the phenomenon of anti-network effects caused by high gas fees, and the potential for blockchain technology to revolutionize global finance. Kyle shares his insights on the end state of L1 blockchains, the role of interoperability, and where value may ultimately accrue in the crypto stack. Along the way, they debate the relative importance of technological innovation versus monetary characteristics in driving value.

Although our guest this week is a Managing Partner of a registered investment adviser, nothing in this podcast should be considered an offer of Multicoin’s investment advisory services or should otherwise be confused for investment, tax, legal or other financial advice.
--
Follow Kyle: https://twitter.com/KyleSamani
Follow Hart: https://twitter.com/hal2001
Follow Mike: https://twitter.com/MikeIppolito_

Subscribe on YouTube: https://bit.ly/3R1D1D9
Subscribe on Apple: https://apple.co/3pQTfmD
Subscribe on Spotify: https://spoti.fi/3cpKZXH- -
--
Sei Labs believes the EVM is here to stay.

By providing the fastest time to finality of any chain, thousands of transactions per second and full backwards compatibility with the EVM, Ethereum developers can try out a brand new design space for their applications.

Try out sei v2 devnet - visit the new sei.io to find out more.
- -
Uniswap builds simple and secure products that help you swap smarter.
Web. Mobile. Extension. Powered by the smartest protocol in DeFi.

To learn more about the Uniswap’s products head on over to:
https://blckwrks.co/Uniswap
- -
Get the freshest price feeds free for 12 months. Join Supra’s early integration program for zero-cost access to the fastest oracles and dVRF across 50+ blockchains: supra.com/blockworks

Earn $1,500 by referring Web3 projects to use Supra services. The projects get the fastest services for free, and you earn $1,500 for every referral. Learn more at the link above.
- -
Timestamps:
(0:00) Interview Start: Kyle Samani
(3:53) Network Effects & Blockchains
(17:57) Blockchain Based Games & Social Apps
(27:45) Sei Ad
(28:44) Uniswap Ad
(29:38) Supra Ad
(30:34) Integrated vs Modular
(33:06) Protocol vs Token Network Effects
(55:36) End State of L1s
(1:08:58) Outro
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Disclaimer: Nothing said on Bell Curve is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mike, Jason, Michael, Vance and our guests may hold positions in the companies, funds, or projects discussed.

In this week's round up the Mike, Michael, and Vance examine the new market structure emerging as fresh capital starts to flow back into the space and debate whether this could break the traditional crypto market cycles. They also discuss the impact of early liquidity on founders and teams through token launches. Additionally, they analyze the impressive growth and revenue numbers from Coinbase's layer 2 Base. Finally, they explore the role of collateral and yield in the crypto ecosystem compared to traditional finance.
- -
Wormhole is a decentralized interoperability platform powering multi-chain applications and bridges. It provides developers with access to liquidity and users on over 30 leading blockchain networks, enabling use cases in DeFi, data queries, and governance. The platform is trusted by teams like Uniswap and Circle and, to date, the platform has facilitated the transfer of over 35 billion dollars through over 850 million cross-chain messages.

Claim your unique Wormhole NFT at
https://wormhole.com/bellcurve11-7554
- -
Restaking is the biggest shift in Ethereum's staking landscape yet, and Swell is leading the charge with Liquid restaking token, rswETH.

Restake your ETH with Swell to earn Pearls, EigenLayer points, and future restaking rewards — while still being able to participate in DeFi.

Restake now: app.swellnetwork.io
Follow Swell: https://twitter.com/swellnetworkio
- -
Flood is the optimal DEX aggregator, giving users and developers the mathematically proven best price.

Flood is built from the ground up for speed and efficiency, MEV free and redistributes all trading surplus to users, meaning you can earn money while doing your regular swapping.

Join Flood tide campaign!
https://flood.bid/bell-curve
- -
Follow Mike: https://twitter.com/MikeIppolito_
Follow Michael: https://twitter.com/im_manderson
Follow Vance: https://twitter.com/pythianism

Subscribe on YouTube: https://bit.ly/3R1D1D9
Subscribe on Apple: https://apple.co/3pQTfmD
Subscribe on Spotify: https://spoti.fi/3cpKZXH

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
- -
Timestamps:
(0:00) DAS London Review
(12:36) Capital Supply Chain Thawing
(29:03) Wormhole Ad
(30:16) Swell Ad
(31:12) Flood Ad
(32:11) Psychological Impact of Liquidity Events
(38:42) Importance of Token Launches
(48:17) Base Revenue Growth
(57:14) Collateral in Crypto
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Disclaimer: Nothing said on Bell Curve is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mike, Jason, Michael, Vance and our guests may hold positions in the companies, funds, or projects discussed.tt and our guests may hold positions in the companies, funds, or projects discussed.