Ian De Bode
speaker
389 appearances
1 recordings
1 series
first heard Jul 2026
last heard 2 Jul
Ian De Bode’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.
Appearances
They buy the Tesla stock to offset the short on the PER.
Now they're hedged.
But they're not hedged in the eyes of the PER platform because the collateral is all off-chain.
So they need to have more stable coins available to top up their position in case the market moves against them.
So you end up with a system that is just not very capital efficient.
At best, probably 50%, right?
Bunch of stables here, Tesla stock there, more stables here.
So the reason why that matters is because it ends up hurting the end liquidity that market makers are willing to put on chain because their cost of capital is very, very high.
Correct.
That is why when you typically look at the liquidity, particularly on single name equity perks, it's just not very good.
In an ideal world, what ends up happening is user comes in, they go 10X long Tesla, market maker comes in, they short Tesla, they deposit tokenized Tesla as collateral on the perk platform itself.
Now they're fully hedged and they can just collect the funding.
Right.
Capital efficiency, more or less 100%.
And that really enhances the liquidity that any single market maker is willing to put on the platform because it is so much more capital efficient.
And when you get more liquidity, you get more traders, the flywheel becomes real.
And that's when really the market gets into escape philosophy.
Now, I don't mean to imply that TradeXYZ and Hyperliquid have not been successful, right?
Clearly, they have been.
But when you look at single name equities in particular, even on TradeXYZ, the liquidity isn't that great.
Showing 141–160 of 389 · page 8 of 20
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