Mike Ippolito

Mike Ippolito@MikeIppolito_ · 14 days agoSector impact

ok let's play it out (assuming the long term equilibrium of fees between settlement and execution are roughly a 20/80 split). you build a PoA chain a la Canton where 10 companies are the validators. this works alright for now. you're now getting all the execution fees you were getting as Pump, plus the additional 10-20% of settlement fees from owning the chain. but then you need to pay out fees to validators. after all, these aren't thousands of randos spread all over the world. they're well capitalized, hold important positions in the chain. they can coordinate. then as the years go by, you realize that other open source ecosystems like solana are shipping upgrades. ACE, Alpenglow. the chain is getting faster, cheaper, better, easier to use, while yours stagnates. why? because there's no incentive to upgrade the tech. suddenly the 20% of fees feel like a massive headache, are negatively impacting your product, and directed a ton of focus. also, you don't just snap your fingers and spin the chain up. you still need to onboard entities, come up with a governance structure, run the coalition, coordinate. not sure how big pump is, but it's a significant drag on time, resources, attention and focus.

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AI: Theme-oriented investment view, reinforcing conviction in infrastructure and new narratives.

Mike Ippolito@MikeIppolito_ · 14 days agoSector impact

@LorenzoARK @Pumpfun @solana it's a business strategy question. they get the vast majority of the economic value anyhow, and they'll get more when ACE rolls out. starting a new chain is HARD, and it's only worth it if they plan to become an ecosystem that attracts other apps, which would dilute their focus.

204234

AI: Theme-oriented investment view, reinforcing conviction in infrastructure and new narratives.

Mike Ippolito@MikeIppolito_ · 14 days agoOpinion output

The question is, what do tokenholders get?

151379.1K

AI: Continues the public long-term stance, emphasizing execution efficiency and industry direction.

Mike Ippolito@MikeIppolito_ · 14 days agoSector impact

RWA August commencing 🔥 Disclosure: small and proud bagholder.

31142.4K

AI: Theme-oriented investment view, reinforcing conviction in infrastructure and new narratives.

Mike Ippolito@MikeIppolito_ · 14 days agoOpinion output

On the frontier model front, it might be the case that there's no such thing as a general purpose model. For instance, I think the destiny for Anthropic might be to be the first true competitor to the Microsoft Office Suite in the last 20 years. I don't buy this idea that the labs will own the application layer broadly, but they could specialize and dominate one or two very valuable use cases. Given how quickly commoditization is happening at the model layer, this seems like the most likely outcome.

60152.0K

AI: Continues the public long-term stance, emphasizing execution efficiency and industry direction.

Mike Ippolito@MikeIppolito_ · 16 days agoMarket impact

Remember when everyone in Ethereum and Solana tried to cut staking emissions? The world is about to get a big reminder of how much TradFi loves yield. "But Mike, that yield isn't real, it's just inflation rewards!" Doesn't. Matter. You think people are digging into where the yield on an ETH ETF comes from? All they care about is that Morgan Stanley shows me a 3% yield that I wouldn't have had without staking. Pump. It. Up.

1437410.1K

AI: Continues the public long-term stance, emphasizing execution efficiency and industry direction.

Mike Ippolito@MikeIppolito_ · 16 days agoSector impact

NEWS: as of today, Blockworks has started compiling filings for the TTF. Most token issuers have filed their own disclosures, and the early leaders like @jito_sol , @Morpho , etc... deserve huge props. But the industry doesn't have the luxury of waiting on every issuer's timeline. CLARITY is around the corner, and it's important for us to put our best foot forward. Full list of filings are now live on the app, check it out.

90364.6K

AI: Theme-oriented investment view, reinforcing conviction in infrastructure and new narratives.

Mike Ippolito@MikeIppolito_ · 17 days agoOpinion output

RT @Blockworks: The first step to solving any problem is recognizing there is one. https://t.co/XnC1w7Jn8g

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AI: Continues the public long-term stance, emphasizing execution efficiency and industry direction.

Mike Ippolito@MikeIppolito_ · 17 days agoMarket impact

Crypto will get smaller before it gets bigger again. All roads lead to consolidation for now. The sun rises and sets on brokerages. Coinbase, Kraken, Robinhood are in the driver's seat. Incredible leverage... for now. But eventually they'll get unbundled by DEXes, and the cycle begins anew.

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AI: Focused on platform operations and ecosystem expansion, highlighting long-term gateway positioning.

Mike Ippolito@MikeIppolito_ · 17 days agoOpinion output

BlackRock and Franklin Templeton both came out supporting CLARITY today. Feels like a change in the wind.

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AI: Continues the public long-term stance, emphasizing execution efficiency and industry direction.