Crypto veteran Arthur Hayes says he appears for 2 principal options when contemplating what digital asset protocols to spend money on.
The BitMEX founder notes in a brand new interview with The Rollup that he particularly appears for protocols which have a monitor file of customers spending their very own cash for the challenge’s providers.
“They’re not spending token emissions, they’re spending their very own stables or different crypto to make use of as a services or products.”
By way of instance of that, Hayes cites Hyperliquid (HYPE), a layer-1 protocol with a decentralized alternate (DEX) that has witnessed important consumer and quantity development in its lower than two years of existence.
The crypto veteran additionally says he appears for protocols that present methods to counterpoint their token holders.
“I need to see how I’m getting paid. Is it a token buyback, is it an emission, what’s the scheme? There are all completely different flavors relying on the way you need to incentivize conduct, however on the finish of the day, I purchase a token, I would like some type of APY, after which I can take that APY and run some type of monetary evaluation.”
He criticizes the decentralized alternate (DEX) Uniswap (UNI), which he says is an expertly created protocol that doesn’t do something to reward its customers.
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