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Stacy Muur
@stacy_muur
2016 crypto guild. Web3 marketer, (too) passionate about research & data. Founder @GREEND0TS. Telegram channel:
2.3K Following    77.6K Followers
Fomo has onboarded almost 400K new active traders to its platform in a month. We have a new insane marketing case study.
Uniswap 30D fees: $99M Uniswap valuation: $3.5B Hyperliquid 30D fees: $50M Hyperliquid valuation: $57B What's going on here?
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Forward to community
Bitcoin: Digital gold Litecoin: Digital silver Ethereum: The world computer Solana: Internet capital markets Dogecoin: Internet-native money Polkadot: The multichain network Celestia: Modular data-availability Filecoin: Decentralized data storage Cosmos: The internet of blockchains Uniswap: The onchain exchange layer XRP: Global payments and settlement Zcash: Programmable financial privacy Jupiter: Solana’s liquidity and DeFi hub Base: The blockchain for global finance Virtuals: The onchain AI-agent economy Arbitrum: Ethereum scaling infrastructure Morpho: The open credit network Morpho Raydium: Solana’s automated liquidity layer Ondo: Institutional financial markets onchain Cardano: Research-driven blockchain platform Bittensor: Decentralized intelligence marketplace You're welcome.
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You are paying significantly more to use these protocols than you were a month ago. Fastest 30d fee growth, according to @tokenterminal ↓ • @volmexfinance | +198,233.7% | Creates crypto volatility indices and markets for trading expected price volatility • @RobinhoodApp | +63,431.3% | Blockchain designed for tokenized stocks and other RWAs • @MIM_Spell | +10,188.3% | Lending protocol behind the MIM stablecoin • @Thales_io | +4,280% | Onchain platform for trading options and sports markets • @hyperbridge | +1,807.3% | Cross-chain protocol for transferring assets, data and messages between blockchains • @IPOR_io | +558.3% | Builds automated yield vaults and infra for managing DeFi strategies • @DarwiniaNetwork | +421.2% | Blockchain network focused on interoperability between different ecosystems • @SeamlessFi | +392.9% | Lending protocol on Base offering borrowing, lending and leveraged positions • @Plasma | +362.5% | Stablecoin-focused blockchain built for fast, low-cost payments • @ribbonfinance | +252.3% | DeFi protocol known for automated options-based yield strategies
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Oh yeah, this pain is real. My thinking is that 95% of the existing neobanks will either repeat the fate of @Cypher_HQ_ or will just wind down & I will add them to my RIP list – because their math is not matching. Yeah, it's relatively cheap to start a crypto card ($150K of initial investment) but you have monthly maintenance costs & users don't earn you as much as you expected; infra is eating up 80% of the profits made. Each user acquired through paid is VERY expensive. Based on the latest cases we see at @GREEND0TS it's ~$70–80 per KYC now (influence marketing / X ads / Google etc). So it's logical that they make up referral terms that end up being ultra conditional. They need to make money somewhere and they make it by rugging their referrers. Not a viable long-term plan, ngl.
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I love neobanks and what they bring – but the deeper I dive into this business, the uglier it becomes (sometimes). My main source of income from is referrals. So I obviously have referral links from most crypto cards that have such programs. The ugly part is that many don't want to pay for the customers you bring. Just a few examples from the last few weeks: • Case 1: Company says they need a minimum of 10 activated cards per month to make the payout. • Case 2: Company says that they pay only if you have 3+ activated referrals and each spends at least $200 – for that, you get $50 (hahaha). • Case 3: They pay you a % of the total spend – but only for the first 3 months. The official website will never tell you this. It will always be written somewhere in the docs, sometimes nowhere at all. And this is very depressing. @stacy_muur mentioned several times that these days if crypto companies want to get users through paid channels, they HAVE to pay AT LEAST $50 per user who just passes the KYC. That's the benchmark. What we see is that people are so greedy (or their economy is not matching so much) that they are making it more and more challenging for referrers to earn money. There are a few exceptions like @ether_fi. But overall, Web3-native neobanks will not be competitive to players like @Revolut once they go all-in for acquisition.
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This week's fastest-growing protocols are mostly competing to put crypto capital to work. 7d TVL growth, according to @DefiLlama ↓ • @OuroborosCap8 | $5.22M | +202,915% Risk curator managing capital across DeFi strategies. • @twynexyz | $8.18M | +186% Credit-delegation protocol. Lenders earn from unused borrowing capacity, borrowers get more leverage. • @Fira_Lend | $15.83M | +178% Onchain lending with fixed and variable rates. • @arcus_xyz | $17.14M | +171% Self-custodial exchange on Robinhood Chain for tokenized assets and perp futures. • @SatsumaDEX | $1.25M | +157% Bitcoin-focused DEX on Citrea for swaps and liquidity. • @SingularV_xyz | $1.26M | +97.79% Risk curator managing DeFi yield vaults across lending markets. • @hyperithm | $221.13M | +85.99% Digital asset manager running algo, arbitrage and DeFi yield strats. • @Ever_dex | $2.64M | +67.15% Cross-chain DEX for swapping assets across networks. • @R25Official | $160.29M | +57.53% RWA protocol bringing yield-bearing trad-fi assets onchain. • @DigiFTTech | $274.08M | +52.81% Regulated platform for issuing and trading tokenized RWAs.
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One thing that I hate about crypto is that founders can create a deficient product, extract from their community & VCs, and still walk away millionaires with no consequences. Crypto is the only industry in the world where you can get rich without producing real value.
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We have another @LayerZero_Core unlock this week. And apart from the repeated monthly cliffs of ~25.7M ZRO, we also have new "LayerZero community" allocations subject to unlock. Let me show you what was happening to $ZRO when these unlocks started ↓ • 2025-07-20: 25.708M ZRO → $57.59M at $2.24 → 20.02% of market cap. • 2025-08-20: 25.708M ZRO → $49.36M at $1.92 → 17.16% of market cap. • 2025-09-20: 25.708M ZRO → $50.65M at $1.97 → 17.61% of market cap. • 2025-10-20: 25.708M ZRO → $43.70M at $1.70 → 15.19% of market cap. And now ZRO is trading at $0.7. So $2.24 → $0.7 in just 1 year. Allocation pattern per cliff: • Core Contributors (Founder / Team): 10.625M ZRO. • Strategic Partners (Private Investors): 13.4167M ZRO. • Tokens Repurchased (Community): 1.6667M ZRO Good short signal, eh? Data source: @Tokenomist_ai Check full data →
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We'll never forget you, Bitmex.
Dear BitMEX Users, Today, we share with a very heavy heart that BitMEX exchange will shut down its operations, effective 23 September 2026 at 04:00:00 UTC. The owner and operator of BitMEX, HDR Global Trading Limited, has made the difficult decision to close operations following a strategic review of the business. It may not look the same today, but we are proud of our 11+ year legacy and the role we played in shaping the crypto industry. We invented the 100x leverage perpetual swap, which for most of you, was the first step to your crypto trading journey. It is now the most traded financial product in the crypto industry, adopted by thousands of users and exchanges. And we remain proud of our robust security infrastructure, which has allowed us to maintain a flawless track record of 0 customer funds lost to hacks in our entire operating history. We want to reassure you that your assets remain fully safe and under your control during this transition period. This announcement is just to give enough time to ensure a smooth withdrawal process for everyone. From today we strongly encourage all users to close their positions and withdraw their funds as soon as convenient. For more details on the full process, please read our blog: BitMEX was once home to some of the greatest traders today. Our team has dedicated tremendous effort and passion into building the platform into what it is, and we are glad to have reached some of you during your time with us. To everyone who has traded, supported, and grown alongside us - thank you for your trust over the last 11 years. The BitMEX Team
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Look: 95% of post‑Hyperliquid perp DEXs are failing to acquire users. I read this as a liquidity‑moat + switching‑cost problem amplified by a broken airdrop meta. Hyperliquid still commands ~62% of perp DEX open interest, so traders pay real slippage/operational costs to move. At the same time 92.9% of tokens launched 2024–2026 trade below TGE. No airdrop farming now – it's practically dead. So I have a question: Why do founders keep launching new perp DEXs every week?
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Lesson 2 on founder growth: Build expertise circles instead of chasing big accounts Your network is everything – and you should engineer it through building expertise circles. An expertise circle is a cluster of people, companies, investors, creators, analysts, customers, and operators who repeatedly discuss the topics the you need to be associated with. This is more useful than chasing “big accounts.” A founder does not need every famous person in the category to notice them. They need repeated visibility among the people who shape buying, investing, hiring, and partnership decisions in their market. That means, for each expertise circle, you need to map: - active founders; - category analysts; - investors; - operators; - newsletter writers; - technical experts; - customer-side decision-makers; - high-signal creators; - company accounts that consistently publish useful data. Then track what these people talk about. 1. Which posts trigger useful discussion? 2. What language do they use? 3. Which arguments repeat? 4. Where are people still confused? 5. Where can the founder add something non-obvious? This is where X becomes a live market research layer you can leverage. Read the full story ↓
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I’ve been consulting several founders recently on building their X persona. I won’t cover the upsides here – it’s obvious. Instead, I want to create a series of tweets explaining HOW to build a strong profile on X. Lesson 1 ↓ First, define where the founder has real authority. A useful expertise zone is specific enough to support repeated, original commentary. For example: • not “fintech,” but “stablecoin card adoption and consumer payment behavior” • not “AI,” but “how small B2B teams use AI to compress research and GTM workflows” • not “startups,” but “how solo founders build distribution before hiring a marketing team” • not “crypto,” but “how Web3 projects turn community trust into measurable activation.” Each expertise zone should answer three questions: • What does the founder know better than the average market participant? • What does the company need to be trusted for? • What conversations are already happening on X where this expertise is relevant? The best founder personas sit at the overlap of lived experience, company strategy, and active market conversation. If the founder has no clear expertise zone, the account usually becomes random. It starts reacting to whatever is trending, copying bigger accounts, and posting broad advice that could come from anyone. This makes growth much (much!) more challenging.
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This week's fastest-growing protocols are mostly competing to put crypto capital to work. 7d TVL growth, according to @DefiLlama ↓ • @OuroborosCap8 | $5.22M | +202,915% Risk curator managing capital across DeFi strategies. • @twynexyz | $8.18M | +186% Credit-delegation protocol. Lenders earn from unused borrowing capacity, borrowers get more leverage. • @Fira_Lend | $15.83M | +178% Onchain lending with fixed and variable rates. • @arcus_xyz | $17.14M | +171% Self-custodial exchange on Robinhood Chain for tokenized assets and perp futures. • @SatsumaDEX | $1.25M | +157% Bitcoin-focused DEX on Citrea for swaps and liquidity. • @SingularV_xyz | $1.26M | +97.79% Risk curator managing DeFi yield vaults across lending markets. • @hyperithm | $221.13M | +85.99% Digital asset manager running algo, arbitrage and DeFi yield strats. • @Ever_dex | $2.64M | +67.15% Cross-chain DEX for swapping assets across networks. • @R25Official | $160.29M | +57.53% RWA protocol bringing yield-bearing trad-fi assets onchain. • @DigiFTTech | $274.08M | +52.81% Regulated platform for issuing and trading tokenized RWAs.
Show more
One thing that I hate about crypto is that founders can create a deficient product, extract from their community & VCs, and still walk away millionaires with no consequences. Crypto is the only industry in the world where you can get rich without producing real value.
Show more
We have another @LayerZero_Core unlock this week. And apart from the repeated monthly cliffs of ~25.7M ZRO, we also have new "LayerZero community" allocations subject to unlock. Let me show you what was happening to $ZRO when these unlocks started ↓ • 2025-07-20: 25.708M ZRO → $57.59M at $2.24 → 20.02% of market cap. • 2025-08-20: 25.708M ZRO → $49.36M at $1.92 → 17.16% of market cap. • 2025-09-20: 25.708M ZRO → $50.65M at $1.97 → 17.61% of market cap. • 2025-10-20: 25.708M ZRO → $43.70M at $1.70 → 15.19% of market cap. And now ZRO is trading at $0.7. So $2.24 → $0.7 in just 1 year. Allocation pattern per cliff: • Core Contributors (Founder / Team): 10.625M ZRO. • Strategic Partners (Private Investors): 13.4167M ZRO. • Tokens Repurchased (Community): 1.6667M ZRO Good short signal, eh? Data source: @Tokenomist_ai Check full data →
Show more
We'll never forget you, Bitmex.
Dear BitMEX Users, Today, we share with a very heavy heart that BitMEX exchange will shut down its operations, effective 23 September 2026 at 04:00:00 UTC. The owner and operator of BitMEX, HDR Global Trading Limited, has made the difficult decision to close operations following a strategic review of the business. It may not look the same today, but we are proud of our 11+ year legacy and the role we played in shaping the crypto industry. We invented the 100x leverage perpetual swap, which for most of you, was the first step to your crypto trading journey. It is now the most traded financial product in the crypto industry, adopted by thousands of users and exchanges. And we remain proud of our robust security infrastructure, which has allowed us to maintain a flawless track record of 0 customer funds lost to hacks in our entire operating history. We want to reassure you that your assets remain fully safe and under your control during this transition period. This announcement is just to give enough time to ensure a smooth withdrawal process for everyone. From today we strongly encourage all users to close their positions and withdraw their funds as soon as convenient. For more details on the full process, please read our blog: BitMEX was once home to some of the greatest traders today. Our team has dedicated tremendous effort and passion into building the platform into what it is, and we are glad to have reached some of you during your time with us. To everyone who has traded, supported, and grown alongside us - thank you for your trust over the last 11 years. The BitMEX Team
Show more
Look: 95% of post‑Hyperliquid perp DEXs are failing to acquire users. I read this as a liquidity‑moat + switching‑cost problem amplified by a broken airdrop meta. Hyperliquid still commands ~62% of perp DEX open interest, so traders pay real slippage/operational costs to move. At the same time 92.9% of tokens launched 2024–2026 trade below TGE. No airdrop farming now – it's practically dead. So I have a question: Why do founders keep launching new perp DEXs every week?
Show more
Robinhood has generated $1.8M from ~110M transactions since July 1. Here's the rough revenue split: → @RobinhoodApp: 89% → @arbitrum: 10% → @ethereum: 0.15% Meanwhile, Ethereum has only earned ~$11K in settlement fees. Just look at the activity on the chain: → $608K revenue in the last 24 hours → 256% weekly growth → $396M in stablecoin supply → 1.5M active addresses So is there a future for the Robinhood chain? The funny part is that Robinhood Chain was pitched around tokenized stocks, but they currently account for only ~$13M, compared with nearly $400M in stablecoins and billions in DEX volume. None of that means it's dead. Memes bootstrapped Base and Solana too. But it does mean the current numbers are tied to hype. IMO, since they previously had ~28M users, they have a unique distribution edge. Once the initial hype fades, we’ll have a clearer read on demand. IMO, Robinhood is well positioned in this market.
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Robinhood is pumping rn, and it’s cool to see all these protocols bringing traditional finance onchain ↓ • @arcus_xyz | DEX for trading tokenized stocks and crypto, with perpetual futures planned. • @rialto_xyz | Onchain spot exchange using market-maker quotes to trade Robinhood Stock Tokens and major crypto assets. • @meridiandotxyz | Derivatives platform building RWA perpetuals and USDe-settled prediction markets. • @native_fi | Onchain price discovery and execution network connecting market makers with Robinhood Chain liquidity. • @ArrakisFinance | Market-making protocol managing concentrated liquidity for tokenized assets and RWA issuers. • @Lighter_xyz | Zero-knowledge exchange offering perpetual futures through a native Robinhood Wallet integration.
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My wind down list (unfortunately) continues. More protocols that announced shutdowns this year ↓ • @zerodotnetwork | Zerion’s gasless Ethereum L2. Users must withdraw their assets before the network stops producing blocks on July 31. • @Powerloom | Decentralized data network. Hosted services began closing in June, with its chain scheduled to shut down permanently on July 21. • @SatoriFinance | Perpetual-futures DEX. Operations ended on July 16 after its revenue became insufficient to sustain the platform. • @ionicmoney | Multichain lending protocol. Ceased operations following the damage caused by its 2025 exploit. • @EverclearOrg | Cross-chain clearing protocol formerly known as Connext. The protocol was sunset, while its Foundation and Labs began winding down. • @zerolendxyz | Multichain lending protocol. Began winding down because inactive chains, shrinking liquidity, thin margins and growing security risks made it unsustainable. • @PolynomialFi | Onchain derivatives protocol. Closed Polynomial Trade and Polynomial Chain, with the final chain shutdown taking place on March 3. • @milky_way_zone | Liquid-staking protocol. Announced its permanent wind-down in January.
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We've made the very difficult decision of winding down Zapper. Thank you for being part of this crazy journey with us ⚡️🫶 You can learn more about the sunset here.
CEX campaigns are rarely worthwhile for me to participate in. But sometimes the rewards are very lucrative. Here are some of the campaigns with the biggest reward pools right now: → @worldlibertyfi USD1 campaign (Binance) 165M WLFI in rewards (~$9.25M) → @BlockSt_HQ trade campaign (ByBit) 2,000,000 BSB in rewards (~$280K) → @datafdn trade campaign (ByBit) 200,000 DATA in rewards (~$53K) → @kucoincom KuMining event (coming soon) $50,000 USDT in rewards → @Gate CFD Fortune Lottery $50,000 rewards (paid in stocks) My eyes are mostly on the first one, as I don't have to risk any capital. I just hold USD1 in my account and get rewards every week. Easy way to earn extra yield on your idle capital.
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