In the fast-paced world of Solana DeFi, spotting the market bottom can be a game-changer, especially for those dabbling in meme tokens. Recently, @FabianoSolana sparked interest with a tweet quoting @molusol's cryptic "Bottom?" and responding with his own take: "bottom in?" He shared two smart moves he's making right now to position himself without getting wrecked.
First up, he's going long on Solana via Mooncake.fi, and the kicker? No liquidation risk. Mooncake is a permissionless tokenized perp market built on Solana, powered by RateX, which is a leading yield trading protocol. It lets users create and trade leveraged tokens in a way that avoids the usual pitfalls of liquidation seen in traditional perps. Instead of borrowing funds that could get called back if prices dip too low, Mooncake uses a tokenized approach to leverage, essentially baking the exposure into the token itself. This makes it ideal for holding through volatility, like what we see in Solana's meme coin ecosystem.
As shown in the screenshot from the tweet, options like 3xSOL, 5xSOL, and 10xSOL come with effective leverages of 3.00x, 5.07x, and 9.66x respectively. These are designed for users who want amplified exposure to SOL's price movements without the constant fear of a margin call. For meme token enthusiasts, imagine applying this to hot Solana memes – it's a way to supercharge your bets on the next big pump.
His second play: placing limit orders on DeFiTuna and actually getting paid for it. DeFiTuna is an advanced on-chain liquidity protocol on Solana, functioning as a DEX that supports both Orca's automated market maker (AMM) and its own native AMM. What sets it apart is the rebate system for limit orders. When you place a limit order, you're essentially providing liquidity at a specific price point, and DeFiTuna rewards you with a rebate on top of any slippage benefits.
According to Fabiano, you're looking at least a 30 basis points (bps) edge here – that's 0.16% from the pool fee plus 0.14% rebate, and potentially more from slippage. Basis points are just a fancy way to say hundredths of a percent, so 30 bps is 0.30%. This means makers (those placing the orders) get compensated, turning what could be a waiting game into a profitable one. It's especially useful in the volatile meme token markets on Solana, where timing your buys at the bottom can lead to massive gains.
The tweet has garnered attention, with replies buzzing about whether we're truly at the bottom or if more dips are coming. One user speculated BTC could hit $75k, but Fabiano's ready for anything. Others are eyeing Mooncake for even more degenerate plays.
For blockchain practitioners and meme token hunters, tools like Mooncake and DeFiTuna are essential for staying ahead. They offer ways to engage with Solana's ecosystem – home to countless meme coins – without the full brunt of risk. If you're looking to enhance your DeFi knowledge base, check out Mooncake.fi and DeFiTuna.com to get started. Who knows, this could be the bottom, and these strategies might just help you ride the wave up.
Remember, crypto is volatile, and these are high-risk plays. Always do your own research before diving in.