alexander
@wagmialexander
For years, we've been emphatic that MetaDEX economics are the best in their category -- now we have the data to prove it.
MetaDEXs outperform the category leader by:
• ~3x on REVs, despite 1/5 the TAM
• ~2.6x on Emissions / REVs
• ~1.8x on VOLs + FEEs head-to-head
$FOR YEARS, WE'VE BEEN EMPHATIC T
6h vol
$47
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There is no second best. 🛫
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Claude Code + Cursor means I've built two application to do things no other app does, one iOS one MacOS.
I'm not a dev -- this shit is absolutely insane.
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Every additional buyback and lock today by PGF increases the Momentum Funds warchest for Q2.
That means more firepower for buybacks / burns, for mergers and acquisitions, and ofc vamping mainnet.
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MetaDEX dominance is simple: why LP for just 100% of fees when you can LP for a token that represents 100% of fees, liquidity payments, + launch payments.
So what do you think happens when the choice on mainnet because 75% of fees vs all the existing REV streams + new ones?
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DEXs generate more value than almost any other vertical of the onchain economy.
And two differing visions of ideal DEX economics are now competing for dominance.
MetaDEXs service just 1/5 of EVM, but are leading both in absolute REVs and relative REVs vs Emissions.
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One error our industry makes is conflating fixed supply economics w/ good economics.
In the startup world, you would never bet on a company that couldn’t issue shares to grow.
But, too often in DeFi that’s seen as the gold standard.
Let’s change it.
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Aerodrome doesn’t just continue to lead the DEX space in revenues, but over the past week delivered roughly what the $UNI fee switch would’ve if you assume zero LP attrition after the reward cut.
And Aerodrome is just on one chain (for now).
$AERODROME DOESN’T JUST CONTINUE
$47
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It is such a tell that all these “DAOs” are trying to push through massive governance votes over the holidays.
$IT IS SUCH A TELL THAT ALL THESE
6h vol
$47
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Every day, we get another reminder of how far ahead MetaDEXs are on alignment issues.
100% of REVs go permissionlessly weekly to token operators via immutable contracts.
Every entity that contributes earns the same way and has the same incentives.
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We met in Dec 2019, just before the world shutdown — for months, we were all we had.
A few years later, she didn’t even blink when I quit my job to mess around with “internet coins”.
She was my partner through the worst and best days — and now, for the rest of our days. 🥂
$WEMETINDEC2019,JUSTBEFORETHEWORL
6h vol
$51
8.89%
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Don’t look now, but $SOL is now the #3 highest volume asset on @aerodrome and @base.base.eth
And we’re just getting started. 🛫
$DON’TLOOKNOW,BUT$SOLISNOWTHE#3HI
6h vol
$47
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Let’s separate signal from noise: global EVM DEX fees are down, but Aero’s share is as healthy as ever.
The aggressive incentives of competitors haven’t put so much as a dent in Aero’s @base.base.eth dominance.
And only Aero is uniquely positioned to grow by entering their markets.
$LET’SSEPARATESIGNALFROMNOISE:GLO
6h vol
$47
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