Luke Cannon

@lukecannon.eth

233 Following

380 Followers

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@lukecannon.eth

Where is the value coming from other than speculation? Content coins have none of the mechanisms that actually create positive sum value for creators in web2 (ad networks, licensing deals, etc) So seems like speculation is the only source of any value being "created" with them today

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@lukecannon.eth

Most of crypto is an experiment in how long you can market a non-existent product before your followers get smart & leave

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@lukecannon.eth

Crypto rewards marketers most Since tech is commoditized, there are no moats, & users are mercenaries

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@lukecannon.eth

looks good to me, send it

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@lukecannon.eth

Original tweet now deleted but hilarious sequence of events: From "HYPE is just a memecoin" to "HYPE is as close to tokenized equity as it gets" Lots of education on Hyperliquid still to go

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@lukecannon.eth

Yes I know it's extrapolation crime, but at one point yesterday Hyperliquid did $600k in fees in an hour...or $5.2 billion annualized That's 1 U-Haul of revenue

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@lukecannon.eth

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@lukecannon.eth

(continued 3/3) - Very short sighted to think in terms of price - in a post Bitcoin era, $HYPE's genesis distribution is as close as we've seen to Bitcoin but being "generous" to users has its cost (large airdrops with 0 cost basis) - Long-term, if a large portion of finance moves onchain, there will be a lot more value accruing than exists in crypto today - On memecoins: values freedom of expression On stablecoins: - the edge is in the real-world (banks, compliance, etc), but one of the strengths of HyperEVM is that it'll allow native stablecoins (including yield-bearing) - Hyperliquid as a platform should be neutral in terms of which stablecoins can be used as collateral (& other features), but very opinionated as to how it makes that possible

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@lukecannon.eth

(continued 2/3) - Lots of misunderstandings around HyperEVM as a separate chain when it's really one & the same chain as the exchange (HyperCore) - The purpose of HyperEVM is to make HyperCore programmable, because the most valuable things in finance don't already live on Hyperliquid - Letting people build things themselves is the way to scale (especially aligned with the ethos of crypto), the exception is infra (including infra traditionally viewed as "apps") - There's no other chain you can build on to access DeFi power users transacting billions of dollars a day, & fully integrated with a tier-1 exchange - Tokenized equities, commodities, & forex will all exist on Hyperliquid & there's plenty of talent already building on Hyperliquid to do it - Admits they've been entirely focused on building & poor at comms but that lets others shape your narratives for you - There's so much to build, no point in fighting about drama or stupid takes on twitter

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@lukecannon.eth

Summary of @chameleon_jeff's key points on Steady Lads: - Markets still very active, traders not quiet til much later in a downturn - % of Binance/Bybit volume are primary internal metrics, but don't tell the full story - most people think they're just building an exchange, but it's a lot bigger than that & the perp DEX is just the 1st building block - HLP was a very intentional decision early on to make market making more transparent & community-owned vs the landscape of Alameda & other insider strategies at the time - Hyperliquid is much more decentralized than critics give it credit for, has had 16 validators (who you can talk to) since December - Doesn't harbor ill will toward CEXes for listing JELLYJELLY on perps, says he wouldn't have done it personally "but business is business" - Doesn't view Hyperliquid as a direct CEX competitor, think CEXes & DeFi should co-exist, & Hyperliquid is building how a significant portion of finance should operate on-chain, the original vision of DeFi

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@lukecannon.eth

Have one community partnership for /awaken that prob converted more than all other paid campaigns combined Insane marketing campaign power laws in crypto

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@lukecannon.eth

Max pain is going to Europe for a week & thinking the trip paid for itself thanks to HYPE bids that filled at $13 but realizing when I get back that they never filled because I accidentally set them at $12 instead

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@lukecannon.eth

"Everyone bullish on stablecoins but no way to invest" If you have keen eyes, the stablecoin wars are already happening (& investible) somewhere Hint:

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@lukecannon.eth

When you're trying to organize votes but you run out of votes & now you're getting voted for too

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@lukecannon.eth

By giving a 24 hour window for every action, or?

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@lukecannon.eth

Most of the "game" is technically outside the website though

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@lukecannon.eth

Yeah, just a skill/social game instead of luck

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@lukecannon.eth

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@lukecannon.eth

Interesting how no one seems to have web3 marketing figured out yet Game is constantly evolving as well, certain channels significantly underperforming vs last year As always, organic on top

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@lukecannon.eth

Been shipping a ton at Awaken lately: - free Solana, Base, Bitcoin, Sui, & Hyperliquid - improved automatic imports & labeling for all the above - AI assistance for labeling transactions - mobile app for portfolio tracking Bringing the next millions of users onchain starts with seamless tax & tracking 🫡

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