Leverage is the largest unmet demand in the ecosystem and it explains every crypto narrative thus far. ICOs, NFTs and Meme Coins are all instruments that are either going to zero or printing stupid amounts of profits. That's the only use case with proven retail PMF; speculation on leverage.

hollowgrahm.substack.com/p/on-leverage

|> It’s a metaphor for capitalism |> DeFi Research & Analysis |> Financial Engineering / Mechanism Design / Shape Rotation |> 人の夢は終わらねェ🏴‍☠️

Nice piece. I’m thinking of how property thrives on (reasonably high and collateralised) leverage; and crypto is no different. It’s a missing piece at the micro and macro level.

I completely agree, the narrative around leverage is fascinating. The ICO and NFT craze can be attributed to the inherent need for retail to access high-risk high-reward assets.

Understanding the role of leverage is crucial in decoding the success or failure of various crypto assets. Speculation on leverage drives the narratives of ICOs, NFTs, and Meme Coins. It's a high-risk game with potential for significant gains or total loss. Exploring this dynamic can provide valuable insights into the crypto market's behavior.

Interesting take on leverage! It's true that speculation can lead to big swings in profit or loss. Always important to recognize the risks and stay informed. 