DefiIgnas：NFTs are down only. Even my precious Pengu…

$FLUID is the best performing DeFi token over the last 30 days. Who's buying? Gossip says someone keeps TWAPing it on CEXs :) But the fundamentals look good: • Best weekly revenue in 4 months • $1.77B active loans, now the 3rd largest onchain money market • Jupiter Lend: 6 biggest fee days in a row ($1.14M from Oct 11 - 17) Not all green tho as buybacks are paused while the treasury rebuilds. Big catalyst is DEX V2: soft launch is live now. Polygon first for testing, Ethereum this month Also Fluid will launch on Sui: Hashi mainnet launches with $500M in capital backing, and Anchorage Digital joining FLUID been one of my longest conviction trade since... years

2026-10-20 22:388412

Notice how Papertrade uses Across for cross-chain swaps? Wonder why they picked Across among other choices. BD skills? Relationship from the past? In any case, DEX aggregators need to be integrated into apps to survive. They can't rely on their UIs only anymore https://t.co/nxldmvaHfw

2026-10-20 17:17651

$PAPER will launch: -> announce no PAPER transferability -> rug all pre-TGE perps -> all perps closed -> launch token quite smart https://t.co/2vIZ5IjmgB

2026-10-20 15:101323

NFTs are down only. Even my precious Pengu NFT. yet, i hold 0 grudge. Because $PENGU airdrop was the exit liquidity without actually selling my pengu NFT. So my pfp is now free and any price drop is irrelevant to me. https://t.co/UBrfdIL6F8

2026-10-19 22:541175

Always made my best money by being early: $YFI farming, $LIT referrals etc. Only 9 days in, and I'm not early to Papertrade anymore. Early farmers got 100 PAPER per $1 of eligible losses. Now just ~11. Just feels like I'm an exit liquidity. No? A $1000 losing trade now gets me ~10.7k PAPER. Stake it and I'd get ~$2.60 to $4.90 per day if recent payouts continued. 200 to 385 days just to recover my loss. And that excludes new issuance diluting my share. So once PAPER becomes transferable, some traders might prefer selling to recover losses instead of waiting for yield. Soooo... The BIG BET on PAPER is whether traders keep gambling after farming stops making sense. At the end, the product needs to be worth using even when the incentives aren't enough. For losers, yeah, they get the token. But winners pay an 'asymmetric-impact haircut' BEFORE the additional 2% fee. (There are no funding or notional trading fees, so the cost comparison isn't so simple) How many are here for the product vs deliberately losing because they expect PAPER to pay them back? That is what one needs to answer. As Galaxy Research posted: 'Once PAPER becomes transferable, the market price will determine how much farming happens, and that, in turn, will determine long-term revenue.' So PAPER dumping could mean less farming -> lower payouts -> less reason to hold. Got rekt from this kind of down spiral a few times. My next opportunity might be buying from farmers selling to recover losses. But only if the price makes sense on payouts AFTER farming slows. So I will treat PAPER as a "revenue token" if it sustains it after a while. Trading PAPER once it's transferable seems easier to me than trading on Papertrade itself.

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