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![dennis_qian Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::550381802.png) 0xDQ.edge [@dennis_qian](/creator/twitter/dennis_qian) on x 15.5K followers
Created: 2025-07-24 17:33:01 UTC

the lore ™️ (@DefinitiveFi)

[Sep 2022] bear mkt (BTC @ $20k)
> deep bear so obvi its time to build
> trading dead so pitched "help instos yield onchain"
> scrape together seed round, next day FTX crash
> all instos abandon crypto, $SOL on sale for $XX
> most builders leave the space

[May 2023] $50M AUM 6mo in (BTC @ $31k)
> actually build yield product that slaps (30% APR on ETH)
> printing money for our retail network and friends
> build yield API, slow adoption and slow traction
> no insto customers in sight
> "bro, lets just fking build what we rly came to build"

[Dec 2023] ship adv. trading beta (BTC @ $41k)
> first TWAP onchain that wasn't a PITA to use
> too late, missed all memecoin frenzy volume
> only XX users for months but getting feedback

[July 2024] adv. trading wide release (BTC @ $58k)
> hit $50M trading volume
> added Solana support
> first and only platform with both EVM + SVM

[Oct 2024] "wen points? wen token?" (BTC @ $62k)
> hit $200M trading volume
> decent traction so raised some more $$
> ship points program, grow HNWI retail user base
> begin prep for TGE

[Feb 2025] end of points program (BTC @ $100k)
> hit $1B trading volume, great traction
> no time to build anything, all hands on deck to keep lights on
> instos return in force, many even trading memes
> caught memecoin frenzy this year, made good revs
> Trump nukes market with tariff scare for months
> lucky timing for calm period to build for TGE

[April 2025] airdrop and TGE (BTC @ $80k)
> instant dump from points program farmers
> $EDGE on sale at 4c
> XX ppl remain in discord, crying, coping
> "why would you launch token in these conditions?!"
> meanwhile, every insto wants to talk to onboard

[Sep 2025] 👷🚧🏗️
> 👀👀👀


XXXXX engagements

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**Related Topics**
[50m](/topic/50m)
[sol](/topic/sol)
[$31k](/topic/$31k)
[$50m](/topic/$50m)
[$sol](/topic/$sol)
[onchain](/topic/onchain)
[$20k](/topic/$20k)
[lore](/topic/lore)

[Post Link](https://x.com/dennis_qian/status/1948436270071644187)