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Let's take a brief trip down memory lane my dear anon...

It is May 2021...

After utterly surging to unprecedented high's- on the back of defi summer, the Covid money-printing insanity, and animal spirits of obscene proportions- Bitcoin has suddenly and inexplicably CRASHED by 50%, and many popular alts have dropped by 90% or more :/

Sentiments have been gutted...

Half the TL has been liquidated...

Everyone fears that the bull market is over and they have missed their chance at generational wealth...

And the idea that we could bounce back is the last thing anyone is contemplating...

I remember this point vividly.

As of then, I was not yet full-time crypto.

I still owned my previous business at that point (a digital marketing/performance lead-gen agency) and was ostensibly focused on it full-time, but had become utterly obsessed with defi, and had been geeking out on it all day every day as hard as I possibly could.

Every available moment was spent combing through CT, reading docs, exploring new projects, and watching defi-focused videos from fascinating characters like 'Taiki Maeda' and 'Noah Seidman' and 'The Calculator Guy' :)

And I had stumbled upon something called 'Olympus DAO' that I found utterly fascinating...

And was also curious about this new chain 'Avalanche' I had been hearing about, and some of the projects being built on it like 'Trader Joe'...

And... *IF* I had doubled down then- and kept going down the rabbit hole- I would have made obscene amounts of money- as this was before $OHM had started mooning and before Avax season had begun.

But instead, the crash in May spooked me- and I decided to give up on my silly little crypto infatuation, and go back to digital marketing full-time :)

We all know what happened next though...

Crypto mooned again, $OHM 1000x'd, and Avax season (Trader Joe, TIME, etc) printed millionaires -

- And I ended up jumping into crypto full-time anyway in November of 2021 after fomo'ing back in :)

I bring all of this up, however, because @protocol_fx today reminds me of the above dynamics.

Max pain on the TL.

Max bearishness.

Everyone giving up on crypto.

And a small group of builders shipping like crazy and catalyzing all sorts of excitement despite it.

- While overall defi TVL is down 30% since April 1st, @protocol_fx TVL has 3x'd since then

- While countless other teams are shutting down operations, @protocol_fx ix expanding into new areas and announcing all sorts of new partnerships

- While sentiments languish across the space, @protocol_fx is getting ready to unleash an entirely new defi primitive via @FX100Perp

And, while I'm not claiming we are necessarily set for the same kind of H2 2021 market spike we saw then...

I do think its worth noting just how infinitesimally small our market currently is in comparison to the global economy and other asset classes, and the opportunity this represents...

In this vein...

Crypto has been DEMOLISHED since last October.

$BTC is no longer a top 10 global asset.

Our beloved $ETH has become a punchline.

All of crypto is barely above $2T in market cap.

And there are multiple individual stocks bigger than our entire industry.

While this is painful in the short term, it presents an unprecedented opportunity due to the IMMENSE amount of room there is go to upward from here.

And if we do, I think @protocol_fx is going to ride that wave more effectively than any other project I can think of.

They are actually shipping the proverbial 'Future of France' as thoroughly as any team in defi if you look at all the areas they are currently building in...

They embody the spirit of decentralization and permissionlessness as well as any team I'm aware of...

They have an absolutely spotless track record vis a vis security...

And they are at the forefront of THREE extremely important narratives:

1) Stablecoins
2) Leveraged trading
3) Privacy

Not to mention their continued efforts to cement $fxUSD as the #1 stablecoin for the AI economy (more on that in thread!)...

So yeah... below I will present a bunch of info and updates via links to other tweets and threads and videos on all of the above...

And I highly recommend checking them out...

Do not make my mistake from 2021 and give up and check out just because price action is currently bleak, because crypto can turn around faster than any of us can imagine...

As always, I own a ton of $FXN and am insanely bullish on it and also work with the team - so I am bias (and will flip the goofy 'partnership' tag on this), but I really believe the arc these dudes are gonna go on will be legendary 💪

Here's to defi lads, and here's to utterly massive success stories within it 🫡🇫🇷