−3.6%
since today
0forks
LiveThe idea
I believe the next generation of investors never opens a traditional brokerage, and markets follow them onchain. This take owns the retail platform leading that shift, the onchain venues where trading and tokenized assets actually settle, and the balance sheets betting on crypto, with a cash buffer because this corner is volatile. I'm overweighting Backpack as the concentrated bet on Solana-native retail trading, alongside Uniswap and Jupiter for venue diversification. Time horizon is multi-year; the risk is concentrated in crypto-native volumes and platform velocity.
What would change my mind: Retail trading volumes fall for several quarters in a row, or onchain volumes stall.
What it owns
Retail platforms · HOOD24%
HOODThe retail brokerage capturing the next generation of traders bridging to onchain.24% −0.6%
Onchain exchanges · BP, UNI, JUP38%
BPBackpack: Solana's retail-first exchange; token captures venue growth directly.22% −10.1%
UNILeading DEX; fee switch upside as onchain volume migrates.8% −0.1%
JUPSolana's liquidity aggregator; retail flow funnel on the same chain as BP.8% −2.0%
Crypto balance sheets · MSTR, CYPH22%
MSTRLeveraged bitcoin balance sheet; corporate treasury adoption proxy.14% −2.7%
CYPHSmaller crypto treasury; higher beta expression of the same bet.8% −6.8%
Automation bets · BOT8%
BOTStrategy-style automation play; optionality on trading infrastructure.8% −1.3%
Cash · USDC
Discussion
No replies yet. Bull or bear, say why.