good eye. I'm in with a good sized position. I was 50/50 about whether this was a rug or not, but seems like it's legit and doing something very interesting with onchain equitiy loans combined with some sort of leveraged LP pool fee setup. Seems unique.

Comparisons here are $ARROW at 8M (no launch yet, comes monday) and $BOW (5M). And I don't believe these offer the same kind of unique dynamic where you can provide your liquidity (i.e. the lender) but set a price range to maximize fees -- kind of like how you do for liquidity provision. I'd say this is a bit like $DELTA x $BOW combo for onchain loans.

So yea, as long as the developer launches the product and keep builing (not a rug basically), this is way underpriced and is going to massively reprice.

🔍 Curated by @MTeressi
✍️ Original thesis by @graildoteth
🔗 https://x.com/graildoteth/status/2094308706108444925