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11) coinbase: 0.05% ~ 2% (!!!!) based on public info (have y'all ever tried to use their retail app and checked the price and fees?) ftx: ~0.03% or so based on public info huobi: ~0.03% or so based on public info sushi: 0.05% (30bps taker - 25bps maker rebate) uni: 0 (!!!)

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12) tether: ok this one is complicated. maybe 0.10% on 50mm/day of creations, plus 0.01%/year on interest??? so maybe like 100m/year ~ $300k/day? idk making this up. ok so now we have numbers, what's the ranking? idk, something like: huobi coinbase/ftx/tether sushi uni

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13) making a lot of assumptions there -- just sort of multiplying estimated average fees by adjusted volume;

is relativley good if *make sure to add up spot + derivatives!* also I think the gecko undercounts some spot volume, e.g. huobi, by a bit

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14) sure, alright. so huobi is big, and then... it depends on what metrics you use, really. FWIW liquidity is probably roughly: huobi/ftx uni/coinbase/sushi not really sure how to think about tether here

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15) users is probably like: tether huobi coinbase uni ftx sushi

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16) volume is something like: huobi: 5b ftx: 1b uni/coinbase: 500m sushi: 100m tether: 50m (creation/redemption; trading way higher)

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17) anyway guys there are some rankings. also fwiw in case anyone's interested: Coinbase: no public valuation/token, last $10b??? ftt: 350 circ, 1b full ht: 1b circ, 2.5b full sushi: 150 circ, ~350 (?) full tether: no public valuation/fee token uni: 350 circ, 5.5b full

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18) and remember some are newer than others! uni is old but its prominence is newer, and fees are forthcoming. sushi is really new but also in some ways very old :P tether is old, coinbase is old, huobi is old ftx is relatively new

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19) anyway none of this was investment advice. but yeah a lot of people seem to be posting stuff on twitter that doesn't exactly line up with the numbers.

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20) TL;DR: userbase, volume, revenue, and liquidity all give somewhat different rankings of platforms also we all forgot about huobi but it's still big

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21) also note I didn't list

here because tbh its revenue model is complicated and I'm not thinking about it clearly enough to know what to think of it. I'll try to get around to that.

8:01 AM · Sep 18, 2020Twitter Web App

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Replying to

and

yeah when I say 'binance' people say 'big' but people don't do that for houbi, or okex, which is mostly wrong

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@SmartContracter

Replying to

and

would love a tweet thread on how you would calculate yfi revenue, i think alotof people(me) are hanging out for that

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Replying to

@SmartContracter

and

couldn’t fit yfi revenue into a tweet thread.

Replying to

and

Sorry to be rude but 21 long thread to say nothing or biased info and promise response we didnt ask you for. We also understand clearly why you underestimate

@UniswapProtocol

value after having actively participated to its liquidity steal. Backing the wrong horse?

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BasedLasagneBalls

Replying to

and

Tldr I didn't read any of that, but if somone wants to do a summary of the alpha that'd be great

SuperBitcoinBros

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and

22) $SUSHI is the future of crypto

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and

Heh yeah so binance looks a lot like Huobi in these rankings, don't think it's in a different slot really. Mostly didn't add it because everyone knows binance is big but forgets that huobi is too

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~TheBeardedTrader~

@TheBeardedTrade

Replying to

and

How many MGs of adderall do you take

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