hace 22 h
People seem really confused about the relationship between @infinex and @synthetix, but much less so about @Blueshyft 😅 and @bodhi_ventures. Here’s a thread about what the deal is and a little walk down startup memory lane.
The first startup I joined was in the year 2000, called WhatCard. It was a payment card for kids and teens that parents could manage to allow their kids to buy stuff online but with oversight. Way ahead of its time.
It died in 2002 but we signed a bunch of artists and you could redeem your points for merch, Mandy Moore, Christian Aguilera, the backstreet boys etc. We had a couple of pivots, but ran out of money. But I loved every minute of the grind.
I then helped out consulting while I was in school for another startup Autowhiz, in 2005, which was basically amazon for autoparts but would let you search by entering in the year make model of car and would then find you every single autopart. Awesome idea but died.
In 2009 I started Pouncer with @jjgonecrypto. It was an auction site, and we got some traction but margins were terrible and we shut it down in 2010.
In 2012 I started Audio Invasion/flingshot with @KieranWarwick we were importing and selling high end audio gear and computers. We shut it down in 2014, online retail margins were brutal and shipping costs/fx costs spiked hard around that time.
We did implemented Coinbase Commerce in 2013 and did a couple of BTC transactions, but that BTC was lost when our sysadmin died in a motorcycle accident in late 2014.
In 2014 I started @Blueshyft which is still running today. We were one of the best ways to buy crypto in the early days in Australia and partnered with @GetCoinJar, and @coinspotau.
In 2017 after dealing with backend payment systems for three years and seeing the crazy growth of crypto I started Havven a stable coin project which became @synthetix.
In 2019 @hjmomtazi, @jjgonecrypto and I started a prop fund which evolved into @bodhi ventures. They pretend to listen to me sometimes, but mostly they ignore me. Which if you’ve seen my trading in the Synthetix comp is a good thing. Although I am still beating them 🤣
In 2022 I left Synthetix and took some time off. But I am simply too retarded to not be involved in a crypto startup. So I started @infinex, which was supposed to be a small project to build a better interface for Synthetix.
Infinex evolved into a monster as we realised the opportunity was orders of magnitude larger than my initial vision.
In 2024 I rejoined @synthetix to help push through a transformation and complete rebuild. I am on the council and have a lot of input but I am not managing day to day priorities thank god.
I spend about 85% of ~80 hour week on Infinex, 10% on Synthetix and 5% on Bodhi.
Infinex has a large a team and is completely independent from Synthetix, though some of the team members work in the same office, which Blueshyft also shares.
As for the tokens which is why you read this far. The upcoming Infinex token will be used to direct revenue from the Infinex platform, some of which will come from a Synthetix integration. Synthetix is a pure perp Dex and all of its revenue is used to buy back and burn tokens.
There are obvious synergies, but Infinex integrated Hyperliquid before Synthetix for reasons, so there is a very clear mandate on the Infinex side to ensure they integrate the best chains and protocols. Lighter will come next and then Synthetix.
Thanks and have a great day. I probably forgot a couple of startups in there somewhere. Sorry.
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