Great to see @notesystems choose @cyfrin to audit NOTE SYSTEMS. This is a big deal and instantly sets them apart from 99% of the memefi 'infra' that launches on dodgy, unaudited contracts—a disaster waiting to happen. CYFRIN has audited some of the top DeFi infra protocols that hold or transact billions in TVL, including: - Chainlink - Uniswap - Lido -ZKsyn - Curve Finance -Wormhole -Ethena -Uniswap This is something you should seriously take robinhood:0xc4f730335fb9e439ca5552f7b52b8e638c4245b0 of. This is a real project here. Frankly, if they hit up VC funds, they probably could have easily raised $5-10M at a $30M–50 M valuation. But here we have it available to the public, ready to launch, at around 6M FDV, with revenues feeding back to token holders. I am becoming more and more bullish about NOTE and have increased my sizing significantly. Along with PARE and EARN, NOTE is my third-largest conviction bet in RHC DeFi infra. While I still think the Structured Note Product being built here is maybe far more niche than PARE STOCKS (splitting dividends is a HUGE market that everyone can clearly point to as being a big future deal), some of these lesser-known financial transactions are PERFECTLY suited for DeFi, because if they prove workable, they can easily scale and be integrated into the wider DeFi infra, offering NEW additive yeild that was not possible before. So I'm personally very excited to see these new DeFi protocols building completely novel markets around new primitives that are now possible because of RHC's on-chain equities. Entirely new yeild strategies will form around earning from equities and slotting them into existing DeFi infrastructure. And imo, the most exciting ones are brand-new kinds of markets now possible onchain, such as @PareStocks's new Split Dividends markets and now Note Systems' autocallable barrier notes protocol. Brand-new markets that never existed onchain, and ones that were dominated by centralized banks, are now decentralized, with ownership of the actual protocol going to the token holders, NOT the banks! This is a powerful moment because you, the token holders, become the actual shareholders of what might be core pieces of the future of finance. Yes, we are in the early days here, but it's an exciting time to be in right now. I remain convinced that the long-term investment play here in this market is to invest in the novel FIRST MOVER DeFi protocols building entirely new markets around new onchain equity primitives. The bet is on these protocols: if they show there IS a profitable market, it will rapidly scale because they offer new yeild opportunities for holding equities that never existed, which will attract an avalanche of new capital as the entire market expands.