tldr; the crash started on @binance
> @binance $SNDK printed its first large seller-initiated trade at 21:21:59.39 ($407K that second, $1.03M the next). @binance $MU started at 21:21:59 too
> @HyperliquidX first sweeps landed at 21:21:59.87 ($SNDK IOC, $SOXL trigger orders) and the main burst at 21:22:01.1 to 21:22:02.9: roughly ten addresses firing IOC sells across $SNDK, $SOXL, $DRAM, $SKHX, $SKHY and $MU within 1.8 seconds, then a second synchronized burst at 21:22:55.9. All IOC, none reduce-only, all opening shorts
> @binance carried the volume early: $SNDK $21.9M vs $3.1M on @tradexyz in the 21:22 minute, $MU $5.1M vs $0.3M. @HyperliquidX volume only exploded at 21:28 and 21:30 ($10.8M and $9.5M on $MU), which is the liquidation cascade
Six projects from the last few weeks that caught our attention:
A wildfire analysis prototype that maps the fire’s spread over time and tracks hot spots, made with Opus 5.5.
Built a @metricxyz dashboard.
It tracks every pool, every chain and every bin in real time.
Everything is measured from one line: the oracle reference. Bins sit at fixed bp offsets, and when the reference moves, every bin moves with it.
On deviation.wtf you can watch this mechanism live, including:
- The Field: one ring per chain, one point per pool, a pulse on every swap.
- Live depth per bin, 1s refresh. NVDAB/USDT quotes around 1bp.
- Swap tape decoded from the pool logs on ETH, BSC and Robinhood Chain.
- Curators, feed health, StopLoss and velocity limits, and who keeps the spread.
- Volume and DEX share across all 10 chains, plus a methodology page for every number.
Unofficial dashboard, not affiliated with the team.
Powered by Metric's public API, @Alchemy and @DefiLlama.
Go check it out anon.
Is @metricxyz the next big thing?
Woke up today and my timeline says yes.
But WTF is an oracle-priced propAMM DEX, and why should you care?
Let me explain anon ↓
AMMs have an awkward design flaw: they discover price inside the pool. Every time the real market moves, an arber
What if the next $50B AI infrastructure asset isn't a data center stock... but a coin?
That's the question i keep coming back with $PRL
Wrote up the full thesis: x.com/i/article/2110…
Is @metricxyz the next big thing?
Woke up today and my timeline says yes.
But WTF is an oracle-priced propAMM DEX, and why should you care?
Let me explain anon ↓
AMMs have an awkward design flaw: they discover price inside the pool. Every time the real market moves, an arber trades the pool back in line and the LPs eat the difference.
For assets whose real price lives somewhere else, that's backwards. NVDA's price is set on Nasdaq. ETH's is set on centralised order books. An onchain pool can only lag it.
Solana already solved this with propAMMs, pools that quote off an external price, and they now do 15 to 27% of on-chain DEX volume. The catch is they're closed. One market maker, one book, and you take the quote or leave it.
@metricxyz is the open version on EVM. And imo it's definitely the most interesting DEX design to ship this year.
Live since yday (15th of Oct) on Ethereum, BNB Chain and Robinhood Chain with currently:
- ~$5.4M TVL
- ~$147M 24h volume on day one
Before that it did ~$21.9B purely as an aggregator destination, with no frontend at all.
How does it work?
- The pool doesn't decide the price. A Price Provider does, reading Chainlink or Pyth, and the pool only tracks how far it sits from that reference ("deviation")
- LPs fund bins at fixed % distances from the reference. When the oracle moves, every bin reprices with it. No trade needed, so no arber gets paid to drag it there
- No range to manage, no rebalancing bot. Traders pay no fee on top, the cost is the spread, split between LPs, the curator and the protocol
- Price and liquidity are separate jobs. A curator (market maker, fund, anyone) runs the pricing. Anyone can LP into it. Uniswap's permissionless pools with a market maker's quote
Why I'm bullish:
1) It's built for tokenized stocks, not adapted to them. A Multiplier Oracle prices stock tokens as share price x the issuer's multiplier, so splits and dividends don't break the pool. Robinhood's ERC-8056 is supported natively. Stocks are the cleanest use case for oracle pricing there is
2) They did the boring hard part. A propAMM lives or dies on stale quotes. On Ethereum, oracle updates go through builders covering ~97 to 98% of blocks and only land in a block that has a trade against the pool. No trade, no gas. BSC gets a protected lane via 48Club and BlockRazor. Most copycats will underestimate this
3) LP protection is built into the contracts, not the UI. Green pools need oracle-anchored pricing, a verified curator and an immutable StopLoss that rejects swaps draining a bin too fast. Extensions can block a trade but can never change the price
4) Distribution came first. Flow arrives via 1inch, 0x, OKX, KyberSwap, CoW Swap and PancakeSwap whenever the quote wins. It earned its volume before it had a big public brand
5) The team: CTO Christos Gkolias was a senior engineering manager at Uniswap. Also, protocol was audited by Zellic and Sherlock
My take: oracle pricing is where onchain execution for anything with an off-chain price is heading, and tokenized stocks get there first. Tessera and Native already run that game for one market maker each. Metric turns it into infrastructure anyone can plug into, which is indeed nothing short of huge, and finally a new open DeFi primitive.
Points and referrals are already wired into the app, so being early here looks worth it imo. An airdrop down the line wouldn’t surprise me.
My link if you want to try it: app.metric.xyz/r/zerokn0wledge
Mission S.
Authentic. Consistent. Timeless.
A glimpse into the future - shaped by our heritage. Mid-engine architecture. A focus on the driver and the driving experience.
Call it a love letter.
1 Followers 184 FollowingNous recherchons des travailleurs à temps partiel. Il n'y a pas de limite de temps. 200 à 2000 euros par jour ! WS : https://t.co/ei8vdqdfe3
13 Followers 1K Followingonly private elite here!! I will mainly talk about crypto market, price action analysis etc. ONLY FOR A FEW PEOPLE MAIN ACCOUNT.@TraderMorin
367K Followers 45K Following현 대통령소속 국가건축정책위원회 위원장,
서울대 건축학사-미 MIT 도시계획 박사,
제21대-제18대 국회의원(법사위-국토위)
'이토록 서울-김진애의 도시이야기-이 집은 누구인가-
한 번은 독해져라-왜 공부하는가' 등 30여 권 저술.
시원시원 씩씩하고 유쾌한, 진짜 서울러!
431K Followers 9 FollowingInfrastructure to house all finance. Trade crypto, commodities, indices, FX, and real-world assets onchain, 24/7. Not directed at UK persons.