1/ About a month ago we released our thesis on @derivexyz, echoing their vision for the infinite payoff factory With the base case fully baked in and a team hungry for much more, how satiated may risk appetite be across the board? 🧵👇

11/ The market has been pricing $DRV like a curiosity, perhaps overlooking the fact that even a sliver of TradFi‑sized options volume coming onchain can cause a small-cap status to disappear fast ... very fast Sizing & hard invalidations is how you keep the asymmetry exposure