Aerodrome (AERO): Can Fees Beat Token Inflation? | Daily Crypto IQ

So, Aerodrome is a decentralized exchange and liquidity market. Trader swap assets uh liquidity providers supply assets. This all has a lot to do with finance and liquidity, right? It's a liquidity layer for base uh ecosystem, the layer 2 on Ethereum. Just so everybody's clear, projects may compete to attract liquidity to pools relevant to their tokens. So, competition always highly good for the user and the end product. Aerodrome's voting system directs newly issued Arrow tokens towards selected pools and participating VE Arrow voters can receive associated trading fees and external voting incentives. That is an actual service. The investigation is not whether a swap can occur. It is whether paying for the liquidity needed to facilitate those swaps leaves a durable economic benefit for Arrow participants. product to token separation. So product of Aerod Drrome are trades, pools, liquidity, depth, routing,

and feed generation. Aer Drrome the token though a liquid asset that can be unlocked for voting rights and those voting rights play into some of this fee generation and potential rewards. Also, the asset issued to incentivize liquidity is Arrow. So they issue arrow token to incentivize people to come and provide liquidity right it's a reward value capture condition right meaningful persistent fee rewards must reach token participants without the cost of attracting liquidity overwhelming the benefit so there's a fine dynamic here and so this is the first one we have the economic loop so traders pays traders pay fees fees to exchange assets. Liquidity providers deposit assets so the trade can be executed. So this is how it works, right? Traders pay the fees to exchange asset. Uh liquidity providers deposit assets so the trader can execute and the protocol

issues arrow token incentives to eligible liquidity pools. VE arrow voters allocate emissions among pools and can receive their pools fees rewards plus external incentives. Projects may add their own voting incentives to compete for liquidity and that's the competition. This can be productive flywheel. Useful liquidity draws trades which create fees which helps reward the pool co or the people coordinating the liquidity aka the pool which can also become an expensive subsidy loop if emissions attract liquidity that would appear without continued payments. [music] Third party voting incentives are real rewards to participants but they are not the same thing as swap fees paid by traders. And then number three, uh, adoption snapshot, right? Usage, not valuation. Camsta says, I want to get a bag of lit. I've been enjoying trading it on Bitex. Okay. Well, with what was going on with

BitGat, hopefully we don't see any of these type of things uh trickle down right into any other exchanges. I don't know what the issue was. cuz I don't know exactly what happened to bit yet, right? And I really want to get into my slides, but I'm not sure where they start. Let me roll through some of this information. I don't want to crush you with numbers here. All right, we're going to the slides. Anyways, so the central chest Aerod Drrome is a real heavily used exchange. Aerodrome is also issued uh to attract liquidity. The very beginning of these first couple of slides might be repetitive. I'd rather use the slides. They look so much nicer [music] than being on uh chat GBT, right? But thank goodness that I can use chatbt to organize all of the things that I

find in all my thoughts because man, I would just be sitting here absolutely rambling without that organization. So the central test here is does the fee value reach participants consistently exceed the incentive cost? A lot of what we were just saying, this is the simplified version of it. It was getting a little complicated. I could feel that for everybody. So of course the product Aerodrome enables tokens swap on base liquidity providers supply the asset and the projects compete to attract useful liquidity. The exchanges generate fees when trades occur. Product usage alone does not establish token value. The token though arrow can be held or locked into V arrow. VE Arrow voters direct emissions [music] towards the pools and participating voters can receive pool associated swap fees and external voting incentive. Passive spot holders do not automatically receive any fees.

So you got to be involved with staking arrow for fee arrow which personally I am not. And of uh just let you know the the emoji is fixed in the background there. So the economic loop trader swap and pay fees liquidity pools or liquidity providers LP can really mean either one uh supply assets for those. So this must be liquidity providers supply assets for those trades. Arrow the token issuance receives eligible liquidity. So V arrow voters direct rewards among pools and fees and outside incentive reward participating voters. So again, when you see this VE, so like if you see a ticker that you're familiar with, like Arrow, and then you see a VE in front of it, one, it usually is something that has to do with a liquidity pool of some sort, right? And then two, it's going

to have some kind of like voting or governance same idea tied to it almost every time. I've never seen it not that way, right? But there's a uh there's [music] a there's always one outlier, isn't there? So the loop works best when useful liquidity stays efficiently, right? [music] So the economic loop we were just talking about, but I think these uh slides, anybody else feel like these slides do a better job of simplifying and being clear and straightforward. I felt like they did. So, the failure mode, new arrow can attract liquidity providers and increase activity, but more activity does not prove durable economics. So, we're just over here issuing tons of Arrow token, we got to find out more about that specifically. So if liquidity providers require costly rewards to remain. So in order for Aerod Drrome to keep

its liquidity providers well it must give these rewards and issuance may keep outrunning the fee value meaning they're they're giving more value than they're getting and that is going to hurt aerodyome over time. The test is fee generation usage without permanent dependence on escalating subsidies. Subsidy is the reward. So of course as of September 24th the snapshot that is today approximately 379 million in total value locked and 13.2 billion in 30-day DEX volume. Total value locked is assets in contracts, not revenue. Right? I always want to make sure everybody knows total value of opt is not revenue. Dex volume is traded value also not revenue. So we want to be careful what we assume the numbers mean especially if somebody's hitting you with a bunch of numbers and you're not wellversed on all the different things like decks volume,

total value lock, stuff like that. [music] So these numbers establish use. They do not settle efficiency. So, we know it's being used, but we don't know if it's actually an efficient uh economy. So, BAS's competitive position, 30-day base DEX volume, right, approximately 3.2 billion. Uniswap on base approximately 7.3 billion. Aerodrome currently has substantial distribution routing and liquidity provider liquidity, liquidity pool liquidity can still move to the competitors. So trade swap fees 17.7 million fees directed to V arrow about 14.3 million measured arrow token liquidity incentives altogether about 11.3 million. And we'll get through some of these numbers. We'll get into more nitty-gritty actual facts here in a minute. Voter fee flow minus incentives [music] about 2.9 million. That is the fee coverage, not audited company profit. And let's get through some of these numbers cuz I don't want to

crush you guys with all of these. Uh, yeah. All right. So, what revenue means here? Swap fees are paid by the traders. Only the measured voter directed share is compared with arrow token liquidity incentives. Outside voting incentives are a separate reward source. So fees minus incentives. Basically the amount of money coming in minus the amount of money that we gave out. The fees are the money revenue generated and the incentive is the new aerodrome token that we have minted and we're giving out as a reward. So an analytical comparison, not cash paid to every aerodrome holder. So who gets paid here? Well, liquidity pools or liquidity providers take asset and pull risk together amongst themselves. Eligible LPS earn aerodyome token. V Arrow voters lock the Arrow token and allocate votes. They may receive relevant fees and outside incentives. A

liquid arrow holder receives nearer neither automatically. So if you just hold a drrome, right, you're not getting any of that automatically. Reward, liquidity, lock up, and token price risk differ. All right, so approximately we're talking about the supply, we're talking about tokconomics. Now, how's everybody doing? How are the slides? Do you like them better? Do you like it better when I read it from chat GBT? So approximately 997 million arrow circulating. Approximately 1.9 billion arrow currently minted. So almost 2 billion are minted with about almost 1 billion circulating. So where is 50% of the supply? That's what I want to know. So there is no published fixed supply or what we would call like a max supply or supply cap under the ongoing emission design. These are different figures with different meanings. Token price roughly.7 in the snapshot, right?

I think it was at 69 when we were looking at it earlier. Uh circulating market cap is roughly 700 million. So displayed valuation against minted supply about 1.4 billion. The later or ladder sorry is not a valuation against a fixed ultimate max supply. We keep saying that because that is normally how you would come up with your numbers in a normal tokconomics review. [music] Existing lockers of Aerodrome token may receive Aerod Drrome rebases that offset some of their dilution. Rebases are newly issued tokens also known as emission. They are not swap fees or outside cash. They are just newly minted tokens. um assets real fee flow and new issuance separately. Competitive moat, how does it stack up against its competitors? Well, strength is base presence, right? Aer drrome synonymous with base all of its marketing. Coinbase all of its

marketing. So base presence helps aerome relevance a lot. Liquidity is also helping it. It has a lot of deep liquidity. routing, concentrated liquidity tools, and marketplace linking LPs, liquidity providers, token issuers, and voters. So, these are the positive things that Aerodrome has going for it. But what are its weaknesses against its competitors? Well, other dexes can compete for the same flow, right? The a liquidity provider can go provide liquidity anywhere. Durable moat means keeping trade quality and liquidity without paying an uneconomic incentive bill. Are they basically paying too much for these liquidity providers? Security and control. So publish contracts define operational permissions. Administrative roles include team and emergency powers. So, of course, a lot of times when we get into security and control inside of something that is highly financial, you're going to come into these administrative roles and

emergency powers when things start breaking. Kind of like when BitGet was having issues, they they shut down some withdrawals and they shut down some movement of things on BitGet, but nobody bats an eye at that because it's centralized. Everybody's like, "Yeah, that's what they're supposed to do in their company." But when it comes to decentralized, people feel very differently. So a November 2025 DNS front-end incident was not a core swap contract exploit. Operational risk and contract risk both count. governance concentration though an April 2026 analytics snapshot estimated the top 10 VE Arrow holders controlled roughly 83% of effective voting power we see this all across the board with decentralized governance uh you can basically buy concentration now it does matter how exactly the governance is set up a DAO a decentralized autonomous organization that usually runs the governance doesn't

seem seem to be so in this case, but for most projects um can really run its governance however it wants. There's not like one way to run governance. So, it can vary a lot, but a lot of times there is some way to gain the system if you got deep pockets and run the governance effectively. So, this is historical, not a confirmed September reading. Wallet count alone does not establish broad control. What is live on ARC? Right. So, Aerolite launched on ARC in September. [music] It's already has pools and trading activity. Current measured ARC fee revenue to VE Arrow is zero right now and they say sometime in the future that is going to all get connected. So, it's a positive, but we would have to consider that to be uh noise because it hasn't happened yet. or I

guess you could say it's potential signal. So, ARC is a product expansion signal, not yet a demonstrated Aero token fee acrruel signal. So, they they're not actually bringing in any fees yet with this Aero Light, but at some point they probably will. And the plan transition, the full proposed system would unite Aerodrome and Velrome under Aerodrome token. It describes S arrow and realtime allocation, additional revenue sources and a fund with proposed buyback and burn roll. That is what we want to see that buyback and burn roll. So it sounds like when this stuff starts getting rolled out, maybe that's when we'll see this buyback and burn. This is the first time I've heard of any buyback and burn in their ech uh in their tokconomics or economics, right? So these mechanics require verification after launch present versus proposed right

at present right now base exchange usage veerero directed fees and arrow emissions arrow light on arc that is what we have at this time what is proposed and hasn't happened yet is full arrow integration s arrow economics new revenue streams and a realized token and burn so it doesn't seem like we have any burning mechanism yet, but it seems like it could be coming. The question then will become how many tokens are they actually burning compared to their emissions, right? But at this point, if there's no, think about this. If there's no burns, if there's no tokens being permanently removed from supply, uh nothing can be worse than that. Even if they have a burn mechanism and it's significantly lower, at least it can add up over time and it can help even if it doesn't wildly pump the

coin. So, strongest bull case here. A functioning widely used exchange already directs substantial fees to participants. Aerodrome has a strong measured position. Why are we in bull and bear case? Yeah. All right, guys. I will have to apologize on that one. It seems that we have very over uh simplified our our notes here. Come on. Well, I really liked how those looked, but I'm going to have to get uh a little bit better on those because they really I think skip some information. Oh, the joy, right? All right, let's get to where we need to be. Competitive mode, security, control, and governance. Maybe not. I hate when this happens. You go to like organize everything, you get it all right, you redo a final version of it all to make sure you have everything, and then it leaves a

bunch of stuff out. All right, that really makes me quite annoyed, but I will do better to make sure that doesn't happen next time. But let's go ahead and finish strong, right? So the bull case here, if fees stay durable while incentive uh efficiently improves and full arrow ads verified token acrruel, the arrow case becomes stronger. Liquidity could remain dependent on emissions. A weaker trading week can leave fees below incentive and voting influence may be concentrated. The market may price future arrow token benefits before those benefits can actually be measured on chain aka speculation. Track successive non-over overlapping weeks and do voter directed fees cover those incentives. Does base liquidity and routing remain strong and does governance influence broaden? At this point in crypto, I think you will see those things as more money is coming into these areas.

So after full arrow launch, do proposed new fee streams and burns actually appear. So of course a big part of this is are we going to actually see those burns when we reportedly get that full integration with Ark? and and is the buyback and burn going to happen anywhere else or is that only going to be fees generated through ARC? I hope it's significant if it is. So, let's talk about its score. Utility and adoption 17 out of 20. It's real. It has largecale exchange use subsidy dependency unresolved. Token value capture 18 out of 20. direct fee [music] path for active VE arrow voters do not passive holders. Right? So the token value capture is good but mostly for these VE arrow which are basically people who are staking to liquidity pools, right? Or they are providing liquidity to

a liquidity pool. I don't know if we call that staking necessarily but um they're very very similar. Uh tokconomics and supply got a seven out of 15. ongoing issuance, recent weak fees, right? Coverage below incentive. So basically, this never ending supply is a problem. And creating constant emissions to pay rewards to all the people in your liquidity pools with like no end in sight is is certainly not good. So competitive moat, its ability to stack up against its competitor, its strong base liquidity network, base being a big part of what gives it its strength against its competitors, but [music] contestable DEX flow. And who do you think uh you know when Coinbase gets into not that they aren't, but they are already into a lot of DeFi and DeFi liquidity, they're going to be using Aerodrome for pretty much

everything. If they don't pretty much own and are the ones who created Aerodrome in the first place, I'd be really surprised. Security and decentralization got a 7 out of 10. Publish controls, of course, admin powers, front in history, and a date uh dated evidence of concentrated voting gives it a better score than I think I uh think it actually deserves. I'd probably give it like a five out of 10. Uh catalyst and execution, eight out of 10. working exchange in ark light full arrow remains to prove because we haven't actually seen the full integration of ark [music] therefore we don't really have a burn yet that burn is like the biggest mechanism that I'm looking for in most of these token autopsies and then of course you have risk and unanswered questions emission efficiency base dependency and governance concentration

remains very material or very unseen or very real would probably be the best way to put that. So, it gets a relatively high score. Gets a 76 out of 100. And here's our leaderboard with a number one. A is the only token so far that has passed the token [music] autopsy. Just want to be clear on that. Now, watch tokens are pretty close. We set the bar high. Like, you have to get a 80 and above to pass. So, we set the bar really high, admittedly, [music] but that's good because what good is there to have, you know, every token out here passing the token autopsy? It's not really valuable. We want it to be very exclusive and slim who really passes. But the watch scores, the high watch scores 77,76 75, these are still good in my opinion,

right? Tao coming in at 72, Filecoin 71, Arbitum 69. AVAC 68, Render 68, SUI 64, ENA and Onondo, HAR at uh 60. I think H bar is the lowest one so far. And uh yeah, that means that we've done what 13 token autopsies. I guess we got to pat ourselves on the back. It feels like I've done way more token autopsies than that. Also, now that I think about it, I kind of understand why the notes maybe were a little little uh light here because it's a financial product and there's only so much going on. There's really only so much to talk about. Its economic is liquidity providing. It's got a couple other things to go with it, but it's mostly providing. Liquidity, not to take anything away from it because that is one of the most important functions

in an ecosystem that you could possibly look for. and an ecosystem without proper or deep liquidity can't really do much. So that's not a shot at Aerod Drrome in any way. So Aerodrome passes the product usage test. Aer Drrome the token has genuine participation or participant fee capture, right? And the 30-day fee comparison is encouraging. The 7-day comparison is a warning, right? And these are numbers that vary. The economic verdict needs repeated uh confirmation. Basically, we need to see where this goes from now. Luckily, there's a lot more going on in crypto than there was four, five, 6 months ago. [music] And so, I think this is more bullish moving forward than it would have been if we did a token autopsy on this like say 3 months ago. I think we wouldn't have any good numbers to look

at as far as what would happen when bullish stuff starts happening with Aerodrome, if that makes sense. And then we got some notes right here of where all the sources and things came from. We will divert from that because I don't think you want to see all of the sources. And how's everybody doing? Of course, we could always bounce back to the news because I still did have some more news for you. Web 3 Gaming EVE Frontier Next Major Cycle adds full manual flight mechanics. I don't really know what that is. I know that I owned a token that was associated with a project that was pretty similar to that, but I'm not sure if it was that token. All right, I did fix I did fix the emoji. Now, I'm going to go make sure I didn't see

anybody hit it yet. Got to let it load. Here we are. There it is. Here's the new one. So, who's with me here? Let's talk about this. So, for the gaming side, this is more interesting to me than another token reward launch. Eve Frontier is launching cycle 7, Vestigus, I don't know what that is. On September 29th, beginning with a universe reset and introducing a major over overhaul of ship movement, players will get much greater manual control, including strafing, rolling, and more complex movement instead of being confined to the existing fight plane. Anybody play this Eve Frontier? The update also adds character progression, physical docking, and changes a more dynamic universe. This sounds like a fun game. How have I not seen this? E Frontier remains one of the most ambitious blockchain MM RPG experiments because the blockchain component

sits underneath a genuinely complex persistent world economy rather than the entire pitch. Web 3 gaming desperately needs projects where the conversation is the game play got better instead of the token launched. It's very true. This is the kind of blockchain game development worth watching. We We're going to need to look that up. All right, so that's pretty much the [music] news covered today. How's everybody doing out there? I do feel like it was a little all over the place. Don't forget about Ono launches onchain portfolio tokens on Black Rock Strategies. I think that's really cool. I did put that in the Discord. Join our free Discord where you can hang out with us. Somebody say something in the chat. Let me know somebody's hanging out here. Somebody's still with me. That was a different style. So, I feel like

the uh the actual slides here were way better than what I was that I got the other day. They don't have as many like cool little pictures and stuff in them, but they're way better to read. They're way bigger. I hate when it puts tiny text in them, but there just wasn't a ton of information on Aerod Drrome. I think it's because we just did Bit Tensor and Filecoin and there's a lot of like really technical stuff to talk about like uh Bit Tensor's AI and all of these different things even hardware to match and all this stuff. And then Filecoin is a decentralized storage with hardware to match and things like that. So overall, there was like a lot of really technical stuff to talk about. I was getting used to getting into the sauce really thick. With

Aer Drrome, there's not really quite as much with Aer Drrome. It's just a financial product and then you can talk about its tokconomics and emission. It's stacking against its competitors and stuff, but there's really not [music] as much stuff to talk about there. Let's take a look at the crypto bubbles for today. How are we doing? Ono pumped a bunch. I guess it's up 28% today. Let's look on that weekly chart. Yeah. So, it went from the lowest this week, 38 cents, but realistically like 41 cents before it pumped to 51 cents. That's like a 10-cent move. Nothing wrong with that if [music] you hold some ono streart something in the chat. Well done. Well done. All right, we got Quant. Quant up 28%. Nice. What were we just reading that was built on the Quant blockchain? Oh, the

stuffed with the banking over in uh yeah, stuff with the banking test that they did over in Europe, over in the UK. So, Algarand up 10%. Nice. I hold a little bit of Algarand from Whoa, that hiccup came out of nowhere. Excuse me. um out of a long time ago. I don't know when I bought Algarand. Probably when I bought a lot of other things that I still hold. Probably about the time that I had bought Filecoin is probably when I bought Algarand. XLM's up 10%. ICP up 6%. Let's toggle that one through 1,000. What's our biggest gaining category of the day right now? Looks like 6 to 700. We got Sega, broccoli, shroom, and Ria. What is shroom? I don't know, but it's pumping hard. 24 million. Treard says it's all good. I appreciate you. Laptop somehow is

still holding in there. Backpacks up 40%. XPL, Axi Infinity, right? Yep. AXS, Axi Infinity. So many tickers. Uh, FET up 16%. I like that. I bought the tiniest bag and then I quit buying it when they had a bunch of news. Pith Network 9.8%. Oh yeah, this is uh the Trust Wallet token. I've used the Trust Wallet many times. I don't think I hold any of their token though. Look at that. Bonk up 8%. You still holding Bonk? Struggart. Plume DBR Dbridge up 18 or 16.8%. Now, like I was saying the other day that in a quote unquote beginning of a bull market and stuff or in a time of bullishness, it can be more valuable to know what the biggest losers of the day are versus the biggest gainers. But of course, biggest gainers, ono, quant, plasma, litecoin,

and uh syt 99.99%. That what is this? That might be the craziest amount to be down I've ever seen. Let's go to the daily. Okay. Is not available. I don't know what S Y BTC is. Like some kind of synthetic Bitcoin. Maybe that's the thing with a synthetic token, right? Like it says 2.6 trillion, but isn't that the actual Bitcoin? that that's not this token. I don't know how that works out, but I get it. It's synthetic, so I mean, you're kind of copying it, but then how does it crash so hard? I don't know. I'm not going to claim to understand how that works necessarily. But aside from that, Aikido's down. Aido's been up and down. It's been highly volatile. Bedrock has been in the spotlight a lot lately. Lighter. Uh hopefully Cam shorted lighter today. derive layer

zero bit tokens down. Who would have saw that coming with the uh you know more negative news around it coming out. All right, so let's talk about those new emojis. So, we got of course the logo, simple. Then we got the brain with the Bitcoin in it, right? To me that represents knowledge about To me the brain with the Bitcoin in it represents more of like the original ethos of blockchain technology and stuff like that. Then of course you have the like frustrated palm to forehead which we already had. I just remade it. I think it looks way better. It's funny because before I put these new ones out in the beginning of the stream, Melissa used it perfectly. Then we have the respect emoji. I have uh redid that one. It's kind of like a bow, you know,

kind of like a slight bow like respect. I like that one as well. Then of course there's just me. Uh I don't know. I felt like doing it. Uh took a took a page out of the lifers chat. He has one that's just him. So I was like, I guess I should have one that's just me. I don't know. That one might get replaced. What's funny is that I'm actually limited to 10 emojis. This is There's a reason why I'm doing this right this second. I'm going get to it in a second. Then we have confused. All right. This emoji is for when I'm talking about stuff and you're like, I don't get it. Like I I'm lost. I don't get what you're talking about. That kind of thing. Then we have the Eureka moment. Like I finally understand

it. Like I finally get it. And that's like his brains exploding. And if you could see it closely, it has like crypto coins coming out of his brain and all of that stuff. It's pretty cool. And then we have the thumbs up. Good job. You get it. I think that that one's like more for me to use, but anybody could use it. Like, good job, right? Or you got it kind of thing. And then we have the raise your crypto IQ. The crypto IQ one where it's his crypto IQ going up, exploding out of his brain. Somewhat similar to the other one, but they have two different meanings. Maybe they're a little close in action. Here's the reason why I brought all that up. I brought all that up because well, we have one more emoji. There's one more

emoji that we need. And uh what is it going to be? Anybody have any ideas for a good emoji that we that we would actually use and people would understand? Kind of calling on everybody here. We got anything anybody? What if we did I don't know, you know, be So, here's how it works with YouTube, right? When you first start your channel or you first get like monetization and stuff like that. Oh, we need a rocket ship. Is that what you're trying to say? Struggle heart. I do like that. Or like uh I really like the lifer bullish one. But obviously I'm not trying to copy any of his emojis. I'm not like that. I I I'll think of something original. [music] But I like that. Or the chart go up. All right. I like those. See, I wish

we could have even more than 10, right? Because the more custom emojis I put in, the more it's worth you guys grabbing that membership. That $3 membership will give you uh all the emojis right now. So, I like that. The rocket ship or the market. I think I almost like the rocket ship better. Just something that has to do with uh price go up to the moon. Maybe something like that. But as a community, you guys could help me figure that out. And then once we get like nine more members to sign up to the membership, we unlock more emojis. And then we could do stuff like this again and figure out what emojis we really want. Uh, I it's funny because if you go into like a very established chat like the Crypto Lifers for example, people use

the emo emojis like properly and when people sync those emojis and use them properly, I don't know, it it puts a little extra pizzazz in the chat that I really like. So, I'd like to have that for our channel as well, of course, without copying anything that he's doing because uh I'm not a copycat. Anyways, what do you guys want to talk about now? Let's look at that fear and greed index. Always good to look at that every day. Blues guy. Ah, man. I know it's like the small things that most people probably don't care about, but as somebody who runs a YouTube channel, um, man, those emojis look so much better. Like if you run a YouTube channel and you're asking people to like, "Hey, buy a membership, support me," the least I could do is give you

like some some emojis, some custom emojis to use in the chat when you're hanging out. And uh if they don't look good and you're not proud of them, kind of sucks a little bit. The ones that we had before were okay, but they're not as good as these. Anyways, the fear and greed index is at 71, taking its way back towards extreme greed. Did we have enough time to cool off? I don't know. Look at that reliable Jay with those custom emojis. Struggle heart, how can we get you the membership? That's what I want to know. I I feel like for Struggle Heart, there's some kind of like financial barrier. And I don't mean like you don't have $3. I mean like you live in a country and like you got to connect something. I would really like to

give you a membership. That's one frustration I have [cough] with YouTube [clears throat] is that I can't like give somebody a membership. Even if I was the one paying for it, right? They could at least make it so like I put in my own information, card information, banking information, and then like I could gift a membership to whoever. And I guess I'd be paying myself, but pretty sure YouTube is charging fees on it. They would still make their money. But the fact that I can't gift somebody specifically a membership is kind of an odd [music] thing to not have in 2026. Anyways guys, let's hop over and do some Twitter doomcroll. One of my favorite things to do. I'm really looking forward to doing that other more daily Twitter doom scroll the news and uh the crypto bubbles and

what we used to always do with crypto uh rank, right? If we go back to the main and we look at anybody remember this? Is everybody forgotten already? Where are we at? I used to do this every day. Recently listed. Yeah. Remember we used to do these like every single day. And look, they've changed it. Actually, they changed it back to what it was before. This is very interesting. And now you can check uh check different categories. It's kind of cool. Like I could take off or I guess put on prediction or if we only wanted to look at AI like what is being searched. Like right now it's pretty much just Venice token and art. I like that they're always changing things. You don't use something for a little bit. So, this is what popular searched and these

are recently listed. Totally different. Cyberpunk technology tokenized betock. Oh, that's cipher punk, not cyber punk. And you see a lot of these tokenized betock. Who Who's betock? Who Who's doing the BTO? Oh, it's on the B&B blockchain. Okay, so Oh, Btock, Binance. Okay, that makes sense. There's so many things that we could get into. I say it all the time, like the show could be so long. I love the token autopsies and I think it's the highest value that we could really do right now and we're going to look back on it and have a lot of that information for such a long time. Of course, I'll probably do an update series like in a year or two from now to see what has actually happened from them. But either way, um I do miss the style of our

old show and there will be in probably about a month, month and a half a 2:00 kind of show, probably 45 minutes or something like that. It's going to be a lot of fun. Bit lost over 300 mil. The funny part is they said they had like a 400 and something million uh customer pro protection fund. That's pretty interesting to me. Go follow me over on X if you haven't followed me yet. Let's do some doom scroll. See what we got. Kendra first and foremost. Just a matter of time they say. Y'all keep fading the good stuff and buying rugs. The team at play Kendra is effectively shipping. I will admit there's so much crap in a lot of those places like pumpf fun and stuff. I mean, it's part of the g the whole thing, the whole game.

I get it. But, um, a lot of those people don't seem to really recognize a real project ever. Not that Kendra is built on pump. Fun. I'm not saying that. It's a Robin Hood token, right? So, they built a browserbased MMO in Hood Explorer on Robin Hood. Pretty cool stuff. They have uh NFTTS and stuff. We have a tutorial on the channel and we also play it quite often. Looks like longs just got flushed for 280 million plus. BTC breaks under 84,000. Triggered hundreds of millions in forced longs. Total market liquidity around 500 million mostly longs. 1 hour spike hits 116 million. Hyperliquid whale got clipped. leverage wash out weak hands. Watch for cleaner structure. So if most of the liquidations were longs, yeah, that must flush out a lot of the pressure to the downside. Kindra once again

coming out with some new stuff. I would really like to check that out at some point. And tomorrow is DeFi Friday. So, unless my wife is having our child, uh, I will be on on stream and we're going to definitely check this out. See, got to comment when it's appropriate. So, the last closing bell is coming because the markets are going 24/7. This is going to throw like established traders who have been like trading and they have their like locked in times. It's going to throw people for a loop. I was talking to some of my buddies who actually uh do a lot of, you know, put options and stuff like puts, options, whatever. I don't live in that world, you feel me? But um they're really shaken up by this whole 24-hour trading cuz they don't know what

to expect. Like they don't know what everybody's going to do. So I have a feeling a lot of people are going to do absolutely nothing for a while. Let's see. Let's make sure Binance hears us. We want Caspa listed. It's hard to believe that Caspa is not listed on Binance. It's just such a It's just been around for such a long time and has a pretty strong community. I guess we'll like that. Internet money should move at internet speed. All right, Caspa, we see you. But um you know, fix those KRC20s, Caspa, and then maybe we could do that. So, cleared a fresh yeartoate high. The token moved above 50. The move came after Black Rockck powered portfolio reach the market product launches land harder when price confirms the attention. Yeah, definitely. And it's nice to see Ono pumping

30%. It's nice to see any of this stuff at this point. Yakaman keeps getting closer and closer. They're going to be using the same currency as Sunflower Land. I love that for those who hold Sunflower Land. Uh, I did hold some, but then I spent a bunch of it on Sunflower, so I need to get some more of that. It's still a relatively cheap coin, but it's hard to buy it when you know it's up, but effectively, it's still a pretty cheap coin. Game Day Trainers back with another guide. Are these going to be our Yakaman? Why does he look like he has like a windup on him? He can't just be a turtle. He's got to have a windup. Okay, that's interesting. It's really funny because this whole Yakaman stuff is really loading up to be such a

big deal. And I'm It's going to be really interesting if they don't deliver or if there's problems. I hope not because I'm in there. I want my free I want my free boxes and stuff like that. Some more stuff to do with Sunflower Land. I like the Twitter doom scroll because it just keeps going. So, what is this? OC, new economic mechanism is coming to onchain harvest. I think we saw this launch like a week ago. I have a lot of cool stuff I really want to check out. Life's been a little crazy, but we will get back into the swing of things. I really looking forward to the DeFi Friday. I was get I was starting to lock in with those uh blockchain gaming streams after this stream every night, but I gotta get I gotta wait till

this baby's born first. Is web 3 gaming dead? I have 1,900 plus referrals in a single idol game. The problem is not the lack of players. The problem is teams burning ridiculous budgets on fake Kohl's and X who cannot even bring 30 referrals. Facts. Absolute facts. They'll spend money with people who are they have followings and stuff, but their followings have nothing to do with blockchain gaming or web 3 gaming. Some of them literally they would be [music] better off throwing me some money. Not not trying to be greedy, but you know, I probably have more people than some of the influencer. Like if you're a pumpf fun kind of influencer who's really just all about um coins and coins and stuff, your your people following you are not concerned with blockchain gaming. Got to be careful on Twitter.

I never know exactly what the heck is going to pop up here. I wish there was a way to put it into like a YouTube ready mode. Maybe there is. Derpy Dave, I see this posted a lot. I don't know if it's actually popular. It's relatively easy to put a lot of this type of content on here. Pickette got hit for 350 million from hot wallets. Whoops. But the cold storage was secure. Well, that makes a great argument for cold storage, doesn't it? How Yakamon battles actually work. Full breakdown. Let's take a look at this. You have three levels which is skill swaps and items. One, scout and setup. See the enemy's team drag her into position. Pick the skills each one carries and equip one preparation item. The fight kicks off. Yakaman move into range and fire skills

on their own. A typical fight is three to five rounds, so under a minute. Read and react. Sub in a reserve. drop a potion, buff, or shield, and the item at the right second swings the fight. A bench reserve jumps in on faint skill can trigger like stunning whatever landed the KO and then you win, you get paid. Where to fight? Gems earn offline, rotate the roster, and damage sticks. Interesting. I look forward to seeing how that comes out. Yakaman the best web 3 game. I mean, come on, guys. Come on. It's not out yet. How can it be the best best best Web 3 game when it's not out yet? You can't play it. I think at that point, any game that you can play is a is better because you can play it. Now, you could say

that Yakaman is the highest anticipated game. I'm all for that. Here's the Yakaman stuff in the background. Oh, we could tap the egg, get a couple points. You can see I've I've not been the most consistent doing it. I did miss a day the other day and it kind of totally destroyed my streak. That sucked. But such is life. But I still have like a bunch of stuff like a starter egg, raffle tickets, loot boxes. I mean, I'll get some free stuff. I can't be mad about that. Oh, are you starting home tomorrow at 4:00 a.m.? Okay. I appreciate you letting me know that. Here's a game that we started the other day. And you know, with these games, you kind of start them and you like level up quickly and then it slows way down, right? They're definitely

built that way for a reason. And this is craft.world or craft-world.gg. You can see it up here in the corner. You can actually play this directly inside your Ronin wallet on mobile. I believe it seems like it's built mostly for mobile as like a lot of their like little marketplace here or watching ads to get like a free thing. I can't even do it because I'm on Yeah, here you go. Install the app because I'm on mobile. I can't even do that. Or because I'm on desktop and not on mobile, but you get my point. You can play it on mobile. [music] Uh for those who don't know, things like Jupiter wallet and a lot of like your apps that have a wallet, that's where you can actually they all have like a web browser feature and you can

actually play uh or do different things inside those. Um I stuck to mostly desktop because I always have it available, right? So I didn't really care to like I don't know do a lot of these type of things on my actual phone just because I guess one security reasons and then two if it's not literally built for mobile gaming. Like if it's more like a DeFi product, a liquidity pool, I'll just do it on my computer where I already have everything integrated. I don't want to have like my wallet, even if it's just like a hot wallet, I want to have it connected to a bunch of different places. But that's just me probably being overly cautious. I wouldn't doubt it. But hey, being overly cautious never hurt nobody. Let's view what we got going on here. So, you

do get like some people that like help you out. Like I think we put this guy here. This is like the only worker we have so far that boosts stuff. But anyways, there is an economy for NFTTS that you can sell on OpenC. Each one of these items are like token back. So, they are on blockchain. And like there are some really cool features to this game, but you kind of just you it's not an idol game because you have to come click things, but it's kind of an idol game that you just check up on every once in a while, right? Dang, this thing takes nine. And then you have this whole energy component. It's very interesting. I'm not trying to explain or overexlain every game right now, but I was just hanging out with you guys for

a couple more minutes before I hop off because why not? So, what' you guys think of the stream tonight? Do you like me doing the news in the beginning? I was a little distracted with trying to get those emojis fixed. I really like the emojis uh in other chats that I'm in. Obviously, the crypto lifer. There's a couple other ones where I I pay for them because I'm a part of that. But um I don't know. I think they're a really cool feature for people who come to your channel and show a little bit of effort, right? going to go fulfill some quests here. It's kind of like one of the most important things you can kind of do in this game. We're so close to getting some iron. I think we could probably hit them boiled eggs and

get some iron. Let's see. Stone. Yeah, we could get that iron. Bang. And we got an extra one. Love when that happens. Sunflower Land never really gets old. There's a lot of games that I've messed with before that get old relatively fast. Not Sunflower Land. If anything, there's stuff I wish I had time to sit and do that I don't. And I like that you'll earn in-game currency. Like I just earned like three. Like here you get three sunflower, three sunflower. It's nice that you can actually earn some sunflower right inside of it and not everything is behind some kind of payw wall. That's pretty cool. I really want this key to that chest. That's going to be fire. We got to get up some some levels here. We need some blueberries, some olives. Two olives. Let's see. Real

world marketplace. You can't beat that. I can't afford no olives. I knew olives would be more expensive. Oh well. Struggart says, "Yeah, good stuff." I appreciate that. I know a few of you hold Aerod Drrome, so hopefully we did some justice. So, what was kind of like my basic takeaway is uh they meant new tokens and they don't first of all they Aerodrome doesn't have a set supply even if right now it's just hovering a little bit under two billion but there's no set supply. They can create tokens to give rewards to try to get people in there for liquidity providers because it is a liquidity uh you know project or infrastructure for base ecosystem but then at the same time they're just minting new tokens and giving them as rewards and are we getting enough fees paid to

really make the whole system actually run like becomes the question for sure. All right, what do we need? We got that. We got that. I don't think we can do blueberries. We can't skip this. I know a few of you guys out there play Sunflower Land. Dang, I'm like 6 short of that quest. That is 18 hours on it. Let's use that. I have a skill that'll instantly grow everything, but it only works like once every three days. I'm rocking with it, though. I needed like 6 of a barley, and now I have a lot more than that. So, now we can complete that quest. Probably just grow more barley for sure. Free seeds. The higher the level your actual crop is, the more valuable those highle seeds are. Let's go ahead and grab some more barley. Let's see

if we have enough to plant this whole thing. I didn't look see how many I had. I think I have like 50 plots or something like that. Nope, we ran out. And the annoying part is with these high ones, like you can restock and get your free shipment, but you never What's up with that? Reliable Jay, you still around? When does it actually reset? Like if I'm out of the higher level stuff that you have to like restock using gems like say rakes for the salt mine, when do they ever just let you get more of them? Is it every season or something like that? Or do they never reset? That would be crazy because that would mean that like you have to pay for them like you have no choice. Like you have to pay for them. All

right, I guess we're going to grow some corn here. Yeah. So, it's working on that one. I guess we add these to the queue and we should be able to fill this one out. Let's roll that. So anyways, pretending to arrow drum, I thought I got a good score. It didn't make me want to not hold it or wish I didn't hold it. I wish I could remember what I got in at uh cuz it was quite some time ago, so it was probably higher than it is now. Let's be honest. If you bought things, I'm not saying I bought it in 2025. I bought it older than that, right? But you could still easily be underwater. Okay. Weekly. That's what I was looking for. Reliable Jay says you need gems. Only way I think. Yeah, I know. If

you want them right away, you have to use gems. And they're not really all that expensive, but you still kind of have to get some money. I've been meaning to get some flower in my account for like two weeks now, and the only time I think about it is when I'm on here trying to do it. I've been really really freaking busy lately. I haven't even been going and cleaning up my homies farm. Let's see. Where do we go? We go here, right? Almost forgot how to do it. And we'll help with this project. Looks like it's almost finished. Usually get a pretty cool reward for stuff like that when they finish. Got new deliveries. Hey, good thing we planted that. Dang, 75 corn. It's a lot. You got to think when corn takes eight hours, 8 and 1/2

hours to grow. That's the one thing. Things take like kind of forever to grow here. And then you need a lot of them. It's kind of crazy. Oh, these take five minutes. Oh, 54 minutes. I thought it was 54 seconds. No wonder why I'm like waiting for that to be done. All right, guys. Love all the undergrounders. I hope you guys thought those custom emojis were as cool as I did. We'll see as time goes on. I noticed that you guys do use those custom emojis a lot. I guess it'll just take you a little bit of time to get used to them new ones. Really felt like we needed an update and overhaul. probably wasn't the best project to get into like, you know, 30 minutes before I start my stream. But either way, it is what it

is, right? Hope you guys had a good time. Make rapid route 50% time. Make rapid route negative 50% time. What is rapid route? What are you talking about? Is that what this is? That's instant growth. You want to explain what that is? What is rapid root? Oh, make rapid. Okay. Okay. Okay. Okay. [music] In the composter. Yeah. Uh, let's see. Not that composter. What's this one? This one makes fertilizer. So, maybe when it's done, I can choose. [music] Actually, I think there's another one. I know. I was about to hop off, but he said something that I actually really wanted to know about. Let's go to build. Yeah, premium composter. Is it the premium composter? Either way, I get what you're saying though. I just have mine working right now. How do I Cuz you can't change this, can

you? This is like the first one you get. It's not nearly as exciting. Does this one make rapid root? You got to blend three fruit blend and two grubs. All right, that's cool. Thanks for letting me know. You're always like way more dialed into these games than I can be. One day I will have the time to really focus. Till then, thank you everybody for being here all the way to the end of the stream. You guys get all the MVP points. Check out whatever's coming next in the Discord. If for any reason my child is born and I'm not able to stream, I'll let you guys know in the Discord. Other than that, I will see you guys 8:30 p.m. New York time tomorrow. Underground crypto out. Stay underground, stay crypto, think long term, [music] and I will

see you in the next episode. I just figured something out. Ah, that's what's going on. All right, I'll fix that tomorrow.