Think about the DeFi mania first. You bought a Yswap token, LPed it for 10,000% APR, and if you were fast enough you made a fortune. If not, you got rekt.
Then came the airdrop hunting era. Thousands of wallets, bridging dust across every L2, farming points on protocols you didn't even understand, all chasing that one drop that would change your life. Some made it. Most got sybil-banned or dumped on.
Then the meme coin era. Not quite the same raw greed, but still absolutely unhinged times.
Now we're in a transition phase where, through derivatives, you can bet on commodities and treat them like memecoins while the world literally burns. And this is happening on Hyperliquid, a platform that wasn't even primarily designed for commodities.
Now imagine what happens when the real beasts arrive. Platforms like Sphinx and others that are purpose-built and potentially regulated for commodities and RWAs.
The playbook will look something like this:
- Invest in commodities
- Flip gains to BTC
- Use it as collateral to borrow USDC
- Borrow some NVDA stocks on the side
- Throw whatever's left into random memecoins
- Oh, and maybe grab an NFT while you're at it
The greed, the mania, the volatility will make everything we've seen before look tame. Crypto is becoming the connective tissue between all markets, and in doing so it's turning the entire financial system into one massive, highly leveraged, always-on casino.
We haven't seen anything yet.
