Riding the Waves

Issue #81


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EVERY Wednesday at 5 pm EST on Telegram!

All workshop recordings can be found HERE.

 We Called It!

  • BNB (Pidgeon) - Our telegram longs on BNB just smashed targets for 17% unleveraged.

  • KAS (Pidgeon) - Our various KAS spot buys around the $0.12 region are now paying off beautifully, up over 50% unleveraged.

  • ORDI (Daniel4) - A long from Week #77 served on a silver platter multiple weeks in a row; long from 32-40 range, hit 57. 

  • PEPE (Crypto Fox) - The newsletter suggested a long position with entry at 0.000014929, which hit a high of 0.000015218 for a 2% unleveraged move to the upside.

  • BNB (Crypto Fox)—As suggested in Edges over the past few weeks, BNB has hit its 2021 all-time high after successfully breaking above the 606 level for a 14.2% unleveraged move to the upside.

Macro Markets


Wizard’s Weekly Musings

Most of the attention this week will be on payrolls data on Friday at 8:30 a.m. EST. We expect 175k new jobs to be added after the 269 print last month. 

We should see de-risking into Friday, possibly late Wednesday or Thursday. We have some positions in $WIF for memecoin exposure and some spot in ETH and SOL. We will look to lever up on Friday if we see a NFP print that prints lower than expected. If it is a shock to the upside with a strong growth print, we will close all our positions, return to 80% stables, and stay flat for the short term. We will, as usual, provide live insights in the MONEY GLITCH telegram chat. There will be live trades as well. Other than that, there is nothing of major impact, so we will wait for new data to give any strong suggestions.

Stay tuned for updates on Telegram.  


@Donny English

A fair bit has gone out over the last week, with the weekend's OPEC+ meeting seen as bearish. Voluntary production cuts are due to the end of early weak manufacturing PMIs out of the US and China (discussed further below) and soft US inflation and Jobs data.

This has seen a large rotation out of metals / hard assets into bonds and other safe havens like Utilities (Utilities, i.e., XLU, are seen as low beta ways to play the AI cycle and data center rollout) on global growth concerns.

This is especially true for copper, with inventories on the Shanghai exchange having peaked, signaling the end of the re-stocking phase, which, when combined with weak manufacturing PMIs coming out of China last week (May's PMI reading of 49.5 was a 3-month low) and US via the US ISM Manufacturing Index to start this week. We can see this playing out with most copper-focused ETFs (i.e., COPX) off ~10% over the past 5 days, which is a big puke move and coming into a few supply zones. We expect COPX to consolidate around the $43 - 45 level and wait for it to find solid support before jumping in, but the long-term thematic looks great (ideal entry would be ~$35).

COPX Daily Chart. TradingView, 2024

Oil should probably play catch up to gold prices with the gold and copper trade starting to become pretty crowded, and we are starting to see the rise of a consolidation period (we view this as healthy and expect it to provide some good buying opportunities, as noted above). Meanwhile, despite the perceived negative OPEC+ cuts, we remain bullish with crude inventories remaining below average ahead of a seasonal peak during the US summer, likely to above average refiners oil intakes, which should be a net positive for oil demand and prices.

WTI Oil Daily Chart. TradingView, 2024

Thus, with a positive view towards oil, with Brent and WTI gravitating towards major levels of support, we see Uranium as a second derivative to play this. Uranium names have also been smashed over the past week (URNM -5% over the last five days). UEC is ticking all the boxes and is coming into a strong support zone, and we will be accumulating from $6.00 - $6.50.

UEC Daily Chart. TradingView, 2024

Gold's an interesting one as it should theoretically be trading up on lower real yields (gold is a non-yielding asset and thus acts like a zero-coupon bond). However, the GDX has been off ~6% over the last five days. I will start accumulating some GDX here from $33-34.

GDX Daily Chart. TradingView, 2024


  • Gold - GDX (accumulating between $33-34), free carrying AEM and Kinross, where we TP'd 75% of holdings

  • Oil - watching closely

  • Copper - Watching COPX

  • Uranium - UEC (accumulate from $6.00 - 6.50) - This is currently my highest conviction pick

  • Uranium Enrichment - OKLO (buying down to $7.00), ASPI (we exited last week, which was good timing, and will start to look for entries again below $4; I like the $3.60 level)


$ENPH Enphase Energy, as does the overall Solar ETF ($TAN), looks primed here. $140 calls expiring 6/21 look appealing here. I will update my positions in the Telegram chat accordingly. 

Technical Analysis



Bittensor has been in a long, drawn-out consolidation/retracement phase, which has resulted in a -57.45% correction from the highs. However, we now feel it is time for TAO to start reversing the trend and attempt to move up again. We filled some initial spot bids between 340 and 380 in the past few weeks, but we'll add more here.

We'll play this setup with an entry right here around 395, setting our invalidations below 346.9 with a short-term target of 451. Then, we'll hold the rest of the position towards 560, 690, and new all-time highs.


Superverse is shaping up to have some bullish price action. We can identify a clear trend of higher lows, and it's now grinding into a flat line of resistance. The more it trades into that resistance, the weaker it becomes and the more likely it is to break. 

Daily Long

Once the level breaks, we can look for a retest to take longs to around $1.248 and $1.4, and new highs leading toward the $2 and $2.69 regions. This long would come with an invalidation below $1 or a move back below $1.05 and a bearish retest.

Daily Short

If SUPER fails to break out and instead loses the trendline support, we can look for a bearish retest to short it back down to $0.87, $0.805, and $0.75. The invalidation for this setup would be a stop above $1.06 or above retest highs.


Soylana has calmed down again the past few days but looks about ready to send up another leg and potentially shoot for new highs. We can identify clear support and resistance forming the little range it's in right now. Once SOL breaks out, we can look to take trades.

If SOL breaks above $172.5, we can look to enter a bullish retest, set our invalidations below $164.5, and target up to 184.4, 195.4, and 203.3. As usual, we can hold some of this position for greater macro targets such as $250 and $300.

If SOL breaks below $158, it will likely trade down to around $146; however, we are not interested in going short now.



TLDR: This is a trade update. We longed from the $32 - $40 range. ORDI moved up, and I called for a dip buy in the $40 - $45 range with a stop loss of $32 and targets of $52, $60, and $71. ORDI has now hit $57, and I plan to close most of this position in the $57 - $60 range and hold a 25-40% bag for our $71 target.

ORDI has shown impressive relative strength over the last week, moving from around $38 to $57, while the rest of the market has been choppy and sideways/slightly green.

Our original analysis in Week #77 stated, “ORDI has recently dipped below its previous liquidation event low of around $38. This dip allows us to long other’s liquidations and take a position of power. Should the market turn around and majors continue higher on this bounce, it can be expected that ORDI could outperform many others, as this ticker has proven to show relative strength during bullish periods in the market.

We plan to hold this position for some time and long the stated levels, so leave a moonbag if we see moves to ATHs across majors. That would signify conditions where ORDI can outperform and see ATHs.” 

So far, this scenario is playing out—ORDI is beginning to show that lovely strength relative to the rest of the majors during this bullish consolidation period across majors. ORDI has a history of front-running majors before bullish moves. Keep this in mind when the rest of the market booms in the next few weeks. 

Study ORDI.

ORDI Daily Chart


TLDR: This is a trading update. Should MOG dip back towards the 0.5 Fib or the golden pocket, we will be eager to start a new position. The levels to watch for are in the 0.0000008 - 0.0000010 range. Our stop loss would be at 0.0000007, and we’d aim for targets of 0.0000014, 0.0000018, 0.0000020, and beyond for a small bag. 

After longing the Daily Demand zone in the 0.00000035 - 0.0000005 range, MOG ran to all-time highs of 0.0000018 and smashed all our targets. Referring to our original analysis, we said that “MOG is sitting right above a significant Daily demand zone…There seems to be significant support in the long-range I have given, and should we hold this level into a continued bull market, this meme coin can potentially outperform other memes as its market cap is much smaller than others with similar relevance. Sitting around $220m market cap, this is far below the major memes such as DOGE, PEPE, FLOKI, SHIB, etc.”

Specifically, we stated that “We will be longing the 0.0000003 - 0.0000005 range with a stop loss of 0.0000003 and targets of 0.0000008 and 0.0000010 and will plan to hold a moonbag for ATHs.”

MOG Daily Chart


TLDR: We plan to add dips in the $0.55 - $0.60 range with a stop loss of $0.50 and targets of $0.72, $0.80, and $1.00.

In our last update, we stated that we are still long W after closing some of our positions and locking in profit at our first TP level of $0.72. We will add to our position in the $0.50 - $0.55 range, with a stop loss still at $0.425 and targets of $0.65, $0.72, and $0.80

After adding to our position in the $0.50 - $0.55 range, W bounced nicely to hit $0.70. We have been killing these range scalps, buying around $0.50 and closing around $0.70. 

We are happy to keep longing W at the lower end of this prolonged consolidation range between $0.50 and $0.77. Should W catch breakout velocity, we can look to our targets given last week of $0.80, $0.98, and $1.15. It still seems that market makers have taken hold of this ticker in its accumulation range, considering the increase in volume. We will continue to long the lower range around $0.50 and accumulate for what is inevitable in my eyes under proper market conditions: a sustainable move higher.

W Daily Chart


TLDR: We will be longing the dips in the $1.90 - $2.05 range with a stop loss of $1.78 and targets of $2.45, $3.00, and $3.30.

Hopefully, you guys didn’t get stopped out on other exchanges, but on Blofin, STX ticked $1.796 while our stop was placed at $1.80. Either way, in my eyes, you are either in nice profit with STX at $2.25 or plan to long the dips after STX has confirmed higher.

The same story holds that STX is oversold after hitting highs of around $3.80 and pulling back slightly below the $1.80 level. In the original idea, we stated, “We can also see the downtrend resistance has been tested and potentially broken out of. I don’t love drawing trendlines because they are not precise. This trendline is merely to show the downtrend STX has been in, and should it break over this with strength, we can expect a nice move to the upside. A key resistance level I am watching is $2.27. I am also watching $2.45. I am not bullish until we break and hold $2.27.” 

The chart shows that STX has broken out from said downtrend resistance. We will look to add to or start a new position on dips. 

Note—This trendline is for visualization and should not be considered true. Supply and demand levels are ‘True.’

STX Daily Chart



As has been the case for many weeks, our PEPE plan from last week has paid off relatively well. Back then, we said:

“Before onboarding any further long positions, we would like to see a backtest of one of the following horizontal levels of interest below the current price into support:

  • 0.000014616

  • 0.000012523

  • 0.000011633

As these levels stem from a 4-hour timeframe, we are looking to onboard a new long position after the price goes below either of these three levels and closes a 1-hour candlestick back above the level of interest. As always, our stop loss can be placed below the low that is made below either of the three interest levels before the price closes a 1-hour candlestick back above.”

On May 29th, we received one of our long entry confirmations as the price closed a 1-hour candlestick back above the 0.000014616 level after first dipping below. This resulted in an entry at 0.000014929. After we took our entry, the price went up for about a 2% unleveraged move before coming down to hit the suggested stop loss (the low that was made below the 0.000014616 level before we closed a 1H candle back above - 0.000014348). This left us in a very manageable position where we could take something off the table, trail our stop losses to break even or get stopped out with a predetermined risk.

At the time of writing, PEPE was trading at 0.000014600. First and foremost, it is important to remember that we have already caught an incredible move on PEPE and are now trading at way higher prices. In our opinion, it wouldn’t be unlikely for PEPE to still come down and visit the levels we mentioned last week, such as 0.000012523 and/or 0.000011633, which is why we want to be cautious from here and even look at an opportunity to go short.

We refer to the exact entry criteria for long positions, which we called out in last week’s newsletter and center around the 0.000012523 and 0.000011633 levels.

Before engaging in a short position, we would like to see a squeeze above the current all-time high at 0.000017279, at which point we expect a lot of retail-breakout traders to step in PEPE. After the price gets above 0.000017279, we are looking for a 4H candle to close below this level and take a short position. This makes it easy to cover our risk by simply placing our stop loss on the high that is made above 0.000017279 before the price closed a 4H candlestick back below this level and applying decent position sizing (as explained how in last week’s Edge).

The first objective of this short is to play PEPE back down to the 0.000014616 level, and the second is to aim back to 0.000012523. Should the price already visit those levels before we get a squeeze above 0.000017279, we are no longer interested in taking this short.

4H timeframe chart on PEPE with annotated levels of interest and scenarios


Apart from PEPE, we also covered FTM in last week’s newsletter. At the time of writing, FTM is currently trading at 0.846. 

We haven’t received the bullish confirmation we were looking for last week. More specifically, last week, we suggested waiting for FTM to break above the 0.855 level on the 4H timeframe, something that hasn’t happened (yet!). However, this long idea from last week’s edition remains fully relevant.

Last week, we did get a short trigger on FTM. As suggested, we were looking for a 4H candle close below the 0.787 mark to take a limit short entry at 0.787. This trade ran down for a solid 3.5% unleveraged profit potential to hit a local bottom slightly below 76c  before getting back above our entry and ultimately hitting our stop loss later in the week. As for PEPE, however, the position ran in our favor first, allowing us to secure a part of our position and/or trail our stop loss down to breakeven or into profit, as is always suggested.

From here, we are no longer interested in short positions but are mainly waiting for the flip of the 0.855 level into support, as mentioned last week, before onboarding our long position.

4H timeframe chart on FTM with annotated levels of interest and bull-scenario


WAVES is an interesting altcoin, as it is looking particularly bearish. This makes it an exciting tool to hedge ourselves. This week, Binance announced the delisting of the WAVES pairings on its exchange. Binance, the largest and most liquid exchange makes this a rather big deal.

Our main thesis on WAVES is that we are moving to an all-time low (the polar opposite of our thesis on BNB moving to an all-time high) and that we want to find a solid short entry.

Based on the daily timeframe, we have identified the following levels as very important points of control:

  • 1.675

  • 2.125

  • 3.095

  • 4.105

  • 4.69

Even in an overarching bearish trend, it is likely that the price will come up at some point to test at least one of these levels into resistance. Should we see a squeeze above either of those four levels, then we are interested in onboarding a low-leveraged short position after the price closes a 4H candlestick back below. We can then cover our risk by setting our stop loss on the high that is made above either of the four levels before the price closes a 4H candlestick back below while targeting back to the downside. Even though our main idea is that WAVES comes down to make new all-time lows, we suggest taking a good amount of profit well before we even get there, with the 1.25 level being an important TP point.

We want to stress the importance of the fact that we are not looking at any longs on WAVES. Even though the price could very well come up to test broken support in resistance (and pick us up in our short), we want to focus on longing for strong coins that are in a structural uptrend.

Daily timeframe chart for WAVES with annotated points of control

Web3 News


Bitcoin Bull Michael Saylor Softens Stance on Crypto Industry

CryptoSlate, 2024

Michael Saylor, the CEO of MicroStrategy and a long-time vocal advocate for Bitcoin, has shown signs of softening his stance on the broader cryptocurrency industry. This shift comes after the surprising approval of spot Ethereum ETFs by the U.S. Securities and Exchange Commission (SEC).

Saylor, known for his bullish pronouncements on Bitcoin and his dismissal of other cryptocurrencies, previously predicted that Bitcoin would be the only digital asset to receive regulatory approval as a legitimate investment. He even suggested that the SEC would classify Ethereum as a security.

However, the SEC's green light for spot Ethereum ETFs appears to have challenged these views. Some analysts interpret this approval as a signal that the SEC does not consider Ethereum a security. This development and recent industry victories like the ETF approval have led Saylor to acknowledge the potential for a thriving crypto industry beyond Bitcoin.

Saylor recently stated on the "What Bitcoin Did" podcast that the "crypto asset class will be legitimized" – a significant departure from his previous pronouncements. He also admired the crypto industry's collective power in achieving political wins.

"They obviously have a lot of political power, a lot of users," Saylor said, referring to the broader crypto community.

It's important to note that Saylor remains a firm believer in Bitcoin's dominance. Under his leadership, MicroStrategy holds a significant amount of Bitcoin – over 1% of the total circulation, currently valued at over $14 billion. However, his recent comments suggest a growing recognition of the potential for a more prominent and legitimized crypto landscape beyond just Bitcoin.

Crypto Politics: Coinbase Fuels Fairshake with $25M Donation

In a significant move, Coinbase has bolstered the war chest of Fairshake, a prominent political action committee (PAC) dedicated to supporting pro-crypto candidates. On Monday, the American crypto exchange announced an additional $25 million donation, raising Fairshake’s total fundraising to $160 million. This latest contribution follows recent Ripple and Andreessen Horowitz donations, nearly doubling Fairshake’s funds quickly.

Fairshake is one of the largest PACs influencing the 2024 elections, second only to ActBlue and WinRed, the main payment processors for the Democratic and Republican parties, respectively. The influx of funds highlights the crypto industry's growing political engagement amid key legislative developments in Washington.

On May 22, the U.S. House of Representatives passed FIT 21, a regulatory framework for the crypto industry. This landmark vote came shortly after a notable group of Democratic senators broke with President Joe Biden to support repealing SAB 121, an anti-crypto rule instituted by the U.S. Securities and Exchange Commission (SEC). President Biden's subsequent veto of the repeal underscores the ongoing crypto-related tensions within his party.

Coinbase CEO Brian Armstrong, in his donation announcement, stressed the importance of electing pro-crypto candidates across the political spectrum to achieve regulatory clarity. “The best way to get regulatory clarity in democratic countries is to elect pro-crypto candidates on both sides of the aisle and to vote anti-crypto candidates out of office,” Armstrong stated.

Despite Armstrong’s call for a bipartisan approach, Fairshake’s spending has predominantly targeted liberal candidates who are perceived as anti-crypto. According to OpenSecrets, 93.8% of the $11.3 million Fairshake has already spent on the 2024 election has gone against Democrats or towards Republicans.

The political landscape for crypto has seen dynamic shifts, with former President Donald Trump recently embracing the industry and welcoming crypto donations for his campaign. This has contributed to a pro-Trump sentiment within the crypto community, contrasting with President Biden’s apparent displeasure with pro-crypto legislation.

As we edge closer to the 2024 elections, the crypto industry’s heightened political activity and substantial financial influence underscore its determination to shape future regulatory frameworks. The coming months will reveal whether these efforts foster a more favorable environment for the burgeoning crypto sector.

Cryptocurrency vs. the SEC: Ethereum ETF Approval Could Spark a Regulatory Rumble

LinkedIn, 2024

The Securities and Exchange Commission (SEC) recently approved several spot Ethereum ETFs, a move that will significantly impact the future of cryptocurrency regulation in the United States. This decision has sent shockwaves through the industry, with some experts suggesting it could drastically weaken the SEC's authority over the crypto space.

The key argument hinges on Ethereum's (ETH) classification under this new regulatory landscape. If the SEC's approval implies ETH is a commodity similar to gold or oil, oversight would shift to the Commodity Futures Trading Commission (CFTC). The CFTC is known for having a lighter regulatory touch than the SEC's control over securities.

This shift in oversight could have far-reaching consequences. Companies facing SEC lawsuits over unregistered securities might argue their tokens qualify as commodities based on the Ethereum ETF precedent. This could significantly weaken the SEC's legal standing in those cases.

The news is seen as a positive development for the broader crypto industry. Less stringent regulations could lead to a more favorable environment for crypto businesses, potentially accelerating innovation in the US. Additionally, the SEC's decision might pave the way for a clearer legal framework for digital assets, benefiting investors and companies.

However, it's important to note that the long-term implications of the SEC's decision remain to be seen. Legal battles will likely continue as regulators and the crypto industry grapple with the new landscape. Still, the Ethereum ETF approval marks a turning point, potentially ushering in a new era for cryptocurrency regulation in the US.



Dapper Labs Settles NFT Securities Lawsuit for $4 Million

NBA TopShot, 2024

Dapper Labs, the company behind NBA Top Shot, has reached a $4 million settlement with disgruntled customers in a landmark case for the burgeoning NFT industry. The lawsuit, filed in 2021, centered around whether NBA Top Shot Moments – digital collectible highlights – constituted unregistered securities.

The plaintiffs argued that the nature of Dapper Labs's blockchain and the company's statements regarding the potential for value appreciation effectively turned these digital collectibles into securities requiring registration with the SEC.

This case was one of the first to challenge the classification of NFTs as securities directly. The outcome held significant weight for the entire NFT industry, as a loss for Dapper Labs could have set a precedent for stricter regulations on NFTs.

The settlement terms include a $4 million payout to the plaintiffs and a clause preventing them from pursuing future claims that Top Shot Moments are securities. The settlement reportedly involves Dapper Labs relinquishing control of certain assets to a foundation overseeing the underlying blockchain network.

Dapper Labs has consistently maintained that the blockchain network is sufficiently decentralized and that its actions adhere to all relevant regulations. This settlement allows them to move forward without the looming threat of a potentially industry-shifting securities designation for their NFTs.

While the specifics of the relinquished assets remain undisclosed, the settlement allows Dapper Labs to focus on its core business without the cloud of this lawsuit hanging over its operations. The broader NFT industry will be watching closely to see how this settlement impacts future legal challenges surrounding the classification of NFTs as securities.

Iggy Azalea's MOTHER Token Makes Waves on Solana

Iggy Azalea's honorary Mad Lads PFP. Mad Lads, 2024

Popular rapper Iggy Azalea has made a splash in the crypto world with her new token, MOTHER, launched on the Solana blockchain. The token's price experienced a significant surge shortly after its debut, coinciding with Azalea's adoption of a custom profile picture (PFP) from the prominent Solana NFT collection, Mad Lads.

MOTHER reached an all-time high price just days after launch, propelling its market capitalization to over $88 million. While the price was volatile, it remains above $70 million today. Azalea has been actively engaging with the cryptocurrency community on Twitter, dispelling concerns that the token is a short-lived attempt to inflate prices and abandon the project (often called a "pump-and-dump" scheme).

This is not Azalea's first foray into the crypto space. Earlier last week, drama unfolded when crypto promoter Sahil Arora announced an IGGY token, gathering pre-sale funds unrelated to the rapper's plans. Azalea swiftly distanced herself from the project, publicly calling out Arora.

Iggy Azalea's involvement in the launch of MOTHER and her active social media presence has undoubtedly contributed to the token's initial success. Whether MOTHER can maintain its momentum in the ever-evolving crypto market remains to be seen, but Azalea's presence ensures the project will be closely watched in the coming weeks.

DeLorean Revs Up for Blockchain-Powered Reservation Marketplace

The DeLorean Alpha 5. DeLorean, 2024

DeLorean, the iconic car company synonymous with the Back to the Future films, is taking another step into the future by announcing a new online marketplace. Partnering with crypto payments company MoonPay, DeLorean plans to launch a platform by the end of 2024 that allows customers to trade reservations for their upcoming vehicles using blockchain technology.

This marks DeLorean's second foray into blockchain reservations. In 2022, the company partnered with NFT startup NFT IQ to offer a similar system. However, NFT IQ appears defunct, prompting DeLorean to join MoonPay's Otherlife agency for this new iteration.

The upcoming marketplace will cater to both existing reservation holders and newcomers. Current DeLorean reservation holders can manage their reservations on the platform, while new reservation slots will open for purchase shortly after launch.

While details like the specific blockchain network powering the platform are still under wraps, DeLorean promises a more transparent reservation process. The marketplace will leverage blockchain technology to track a car's performance data throughout its lifespan, offering potential buyers on the secondary market a tamper-proof record of a vehicle's history.

"The path towards transparent vehicle analytics is a perfect use case for blockchain technology," stated Otherlife CEO Michael Perrow in a press release. "It will provide the tool required for buyers in the secondary market to make informed decisions."

The legendary car company's future looks bright with DeLorean's return to the automotive scene and its embrace of blockchain tech. The success of this online marketplace will likely be a key indicator of consumer interest in DeLorean's electric vehicles and innovative approach to the reservation process.



Initia is a platform for 0-to-1 omnichain rollups that enables applications to build secure, robust, and scalable modular blockchains harnessing Celestia’s novel DA infrastructure. Initia is a layer-1 blockchain built on the Cosmos SDK and powered by Optimistic Rollups. It is designed to be a scalable and efficient platform for decentralized applications (dApps). It is aiming to be one of the top chains in terms of dapps by working on the following features:

  1. It is built on the Cosmos SDK, a well-established and battle-tested platform.

  2. Scalability: It uses Optimistic Rollups, which significantly improve scalability and efficiency over traditional blockchains.

  3. Security: Initia uses several security features to protect users, including sharding, fraud proofs, and a decentralized governance system.

  4. Interoperability: Initia is interoperable with other blockchains, making it easy for dApps to interact with each other.

  5. Extensible: Initia is designed to be extensible, making it easy for developers to add new features and functionality.


In Web3 (much like Web2), the average consumer should not be required to jump through infrastructural hurdles arising from choices made in the underlying infrastructure. Similarly, the average user does not care whether a service is hosted through AWS or GCP. The Initia design philosophy is rooted in the belief that dApps will prevail by providing a useful application with a seamless user experience without requiring underlying tech to be directly exposed to the end user.

Initia reimagines this entire system, similar to Apple's design philosophy. It is a platform that combines a powerful and flexible tech stack with a well-crafted user product to form universal consistency across thousands of individual networks.

Imagine each interwoven rollup as an app on an iPhone. While each may use various frameworks to build its app (React Native, Swift, etc.), it can access the same native features: ApplePay, FaceID, and communication across apps. Initia mimics this through products and enshrined features that stitch together modular networks.


Initia product stack ties the entire architecture stack together and creates a one-chain experience for users interacting with thousands of interwoven rollups while minimizing barriers to entry:

  • InitiaScan — A seamless multi-chain explorer system with VM-specific tooling and information

  • Wallet Widget — EVM & Cosmos wallet signing with in-app social logins

  • Bridget — Frontend bridge/onramp aggregation directly into rollups

  • Initia App — The home ground for all things Initia

  • Initia Usernames — Omnitia wide on-chain identity

  • Initia Wallet — A wallet specifically built for navigating Omnitia


The Initia team is just over 20. It combines crypto-native founders and researchers who have been building in the Cosmos, Terra, and Ethereum ecosystems for years with traditional experience building and scaling teams at FAANG and top quant firms.

Members have built 10s of DeFi dApps, managed and evolved multiple blockchains, and have been major contributors to Cosmos Core and CosmWasm.

In October 2023, the project raised a funding round led by Binance Labs, with the investment amount undisclosed. In February 2024, the project raised $7.5 million led by Delphi Ventures and HackVC, with participation from Nascent, Figment Capital, A.Capital, and BigBrain Holdings, as well as many other angels and thought leaders in the space, including Cobie, DCF GOD, Zaheer, Nick White, Smokey, and many more.


The project launched an 8-week incentivized campaign during which we will test the project's ecosystem products, and in return, we will receive a token drop at the end of the testnet. To start with testnet go to app.testnet.initia.xyz/xp

  • Explore and Interact with Initia and live Mintias → Earn Initia XP

  • Spend Initia XP wisely → Aquire various foods

  • Feed your Jennie → Evolve her



AI Adoption Soars, Generative Tech Takes Center Stage

unite.aI, 2024

A recent study by McKinsey reports a dramatic rise in artificial intelligence (AI) use across businesses globally. Over 70% of organizations now leverage AI in some form, compared to just half a year ago.

This surge extends to a specific type of AI, generative AI, which can create new content like text, images, and even music. The use of generative AI has doubled in the past year, with 65% of businesses now employing this innovative technology.

The report identifies Asia and China as frontrunners in AI adoption, while concerns about job displacement due to automation are fading. Businesses appear to prioritize mitigating other AI risks, such as data inaccuracy.

Interestingly, the impact of generative AI is reaching beyond the corporate sphere. The rise of user-friendly tools like ChatGPT fosters the exploration of this technology for entertainment, education, and even social interactions.

McKinsey's findings paint a clear picture: AI is not just a passing trend but a powerful tool with the potential to reshape entire industries. As businesses continue to integrate and customize AI solutions, we can expect even more transformative applications to emerge in the years to come.

AI Film Awards Spotlight Democratization of Filmmaking

AIFA Awards host Leo Crane. AI Film Academy/Paige Powell, 2024

Lisbon hosted the inaugural AIFA Awards this week, recognizing excellence in AI-made films. The ceremony coincided with the launch of the AI Film Academy, an initiative with a bold mission: to democratize filmmaking through artificial intelligence and blockchain technologies.

The event spotlighted the transformative potential of AI in filmmaking. Traditionally excluded groups, like stay-at-home moms Melody Bossan and Dina Lockamy (collaboratively known as Ethereal Moon), are finding success with AI tools. Their film, "Denny the Shark," took home the prestigious AImagine Award for Best Film.

The AI Film Academy echoes this sentiment. Co-founder Clare Maguire emphasizes the Academy's goal of dispelling fear surrounding AI and promoting its positive applications. "We want to showcase the immense potential of this new technology," Maguire says, "and empower creators to embrace it."

However, the relationship between AI and filmmaking remains complex. Concerns persist about AI replacing human roles in the industry and potentially exploiting artists. The recent actors' and writers' strikes highlight these anxieties, and provisions have been implemented to regulate AI use in filmmaking.

AI Film Academy co-founder Leo Crane acknowledges these concerns. He argues, however, that AI empowers creators outside the traditional system, particularly those who lack access to resources. "These are the filmmakers who can now compete with multi-million dollar films," Crane says, "a possibility that simply wasn't there before."

The debate surrounding AI in film is far from settled. While the AIFA Awards celebrate AI's artistic potential, anxieties about its impact on the industry remain. One thing is clear: AI is poised to significantly reshape filmmaking, and the coming years will likely see ongoing discussions about navigating its potential benefits and challenges.

OpenAI Shakes Up AI Accessibility with Free GPT-4o Features

Corta, 2024

OpenAI has made waves in the AI community by offering the full capabilities of its advanced GPT-4o model to free users. This unprecedented move democratizes access to powerful AI technology but raises questions about the impact on paid subscriptions.

What's Free?

Everyone can now access GPT-4o's text, image, and audio processing features. This allows free users to explore functionalities like image recognition and advanced natural language processing. However, there are limitations:

  • Usage Restrictions: Free users might face limitations on the number of messages they can send or receive per session.

  • Performance Fluctuations: Free users may be switched to the older GPT-3.5 model with fewer features during peak usage.

  • Limited Advanced Tools: Uploading files, performing data analysis, and employing some vision capabilities might be restricted to free users.

  • Security Considerations: Free users have less control over their data and how it's used by OpenAI.

Paid Subscriptions Still Offer Benefits

While the free tier provides a compelling entry point, paid subscriptions retain advantages:

  • Uncapped Usage: Paid accounts have a significantly higher message limit than free accounts.

  • Consistent Performance: Paid users have guaranteed access to GPT-4o, even during peak times.

  • Full Access to Tools: Paid subscriptions unlock advanced features like data analysis, file uploads, and all vision capabilities.

  • Custom GPTs: Businesses can create custom AI models tailored to their specific needs, a feature exclusive to paid plans.

OpenAI's Strategy and Potential Impact

This move could be a strategic play to attract a larger user base and build anticipation for future models. However, the free availability of GPT-4o might disrupt smaller businesses previously built around offering access to similar functionalities.

The Bottom Line

OpenAI's decision makes powerful AI technology more accessible for casual users. However, those requiring consistent performance, higher usage limits, advanced tools, or custom AI models might still benefit from a paid subscription. The landscape of AI accessibility has undeniably shifted, offering exciting possibilities for individual users and businesses.

Cognitive Corner


Bull Market Boom? Don't Forget the Tiny Snowball!

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Bull markets can excite us for big, flashy gains, which taps into our present bias. That's our tendency to want things right now, even if something better is waiting down the line. The tiny snowball might not seem impressive at first, but over time, with compounding, it can seriously add up, especially during bull runs. So, don't underestimate the little guy – it's the snowball effect that packs a punch!

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