Getting to Know @Onchain_Matrix | Live AMA

The co-host arrived mid-space straight out of a nap: "I literally thought I wouldn't make it to the call... I just woke up from a nap. I was like, oh, Jesus Christ." He recovered instantly into host mode, reminding everyone it's Friday evening and to tag a friend before stepping out.

Engineer by training, 20+ years in equity and financial markets, in crypto since 2018. He described the team as a blend of crypto-native, tech, and traditional equity people.

The project came out of a group of people who had each been rugged, hacked, or burned by a dev walking off with funds. "If we can find a project out there that gives us what we're looking for, we might as well build it ourselves." The stated goal: a model designed for the community rather than one where the dev makes the money and everyone else gets lucky.

Rather than dunking, he put it in proportion — a large dollar number but roughly 0.5% of assets, confined to the hot wallet, much of it recovered. His broader point: no one is 100% unhackable, especially with AI in the hands of attackers, so you don't hold everything in one place. He added that every time there's a notable hack, the team tries the attack against their own protocol and patches anything that passes 18:38.

Lyss asked him to break it down for people new to DeFi. The contrast he drew: lending protocols run on other people's capital, so a large LTV figure is also a large debt figure. A treasury-based project owns the assets outright. Revenue flows into operations, airdrop dividends, and buyback-and-burn — and whatever isn't used stays in the treasury so the next round can be bigger 27:07.

The diversification case: tokenized stocks, commodities, FX, all reachable from one wallet. He flagged that stocks are set to trade 24 hours a day by December, and that nobody can personally watch crypto and equities around the clock — which is the argument for automation behind a diversified treasury.

1B supply chosen to be big enough to avoid a bottleneck, with no minting ("when you can mint as many tokens as you can, that means you're gonna sell them in the market and dump them on us"). 725M locked for eight years via Magna, with team allocations to be announced. His framing: why ask holders to lock up if the team won't — and don't take his word for it, read the contract.

Asked what he's most pumped about, he went straight to the first distribution: people seeing stablecoins hit their wallet and realizing there's nothing to convert or sell. Lyss built on it — token airdrops usually end in either a dump or "sell shame," and stables sidestep both. He countered that it might even be the opposite of backfiring: people get paid in USDT and buy more ONMX.

He said the conversation validated most of his own research and then some, and made the point that new innovation usually gets ignored until it's already established — so hearing it sound big before launch left him, in a word, bullish.