Investor Du Jun: Prefers Domains Over Tokens
Vernal Capital founder Du Jun posted that for personal digital asset investments, he prefers domains first, followed by digital currencies. He reviewed two transactions from the year before: purchasing some hype and simultaneously acquiring domains related to hyperliquid and manus.
The post did not disclose purchase prices, quantities held, or details on domain renewal and resolution, nor did it provide screenshots from registrars. Hype is the token for the hyperliquid public chain, which excels in perpetual trading fees and does not accept traditional venture capital; domains are entry-level assets that do not fluctuate with token unlock schedules. By prioritizing domains over tokens, he views a resolvable traffic entry as more stable than a tradable chip.
Du Jun's background includes being a co-founder of Huobi, as well as involvement with investment platforms like abcde and vernal, and he has engaged in compliance and infrastructure projects. In public interviews, he mentioned being interested in hyperliquid but noted that the team does not seek external financing, and he missed the best price when buying tokens. The contrast with domain trading is evident: unable to enter equity, he opts for entry points and secondary chips.
Domain ownership must be based on registry records; personal posts cannot replace WHOIS. Token positions also cannot be verified from a single emotional post. The commonality between the two assets is the bet that "this name will become the default entry."
Mechanically, this shifts the narrative from token prices to entry scarcity. What is sold is just the beta of trading tokens, while what is bought is the option for brand terms to be auto-completed in the input bar. Funds are layered between token volatility and domain transfer markets; beneficiaries are those who locked in protocol and product names early, while those who are late to the game face pressure when chasing high prices in the secondary market.
Preferring domains does not mean they are easier to monetize than hype; it simply reflects his personal account ranking.
Source: Public Information
ABAB AI Insight
Unable to enter hyperliquid's equity, one buys tokens and their names. Domains are perpetual calls that do not require unlocking: if the protocol becomes the default entry, the input bar will quote before the exchange. Prioritizing domains over tokens acknowledges that secondary coins will dilute, unlock, and be abandoned by narratives, while a good name is singular. The parallel of manus and hyperliquid indicates he harvests entry based on product buzzwords rather than being a mere follower of a single chain.
The capital path is for those from exchanges to shift towards collecting rent at the entry level: unable to invest in equity, they buy strings that point to products. Vernal operates at the intersection of AI and crypto, with domains being the thinnest layer of infrastructure, yet they capture the user's first input.
Similar paths include early speculation on single-word domains like eth.com and acquiring exact match domains for unlaunched products. Crypto investment is in a control phase: protocols can fork, but a name in a browser cannot have two owners simultaneously.
This represents a transfer of pricing power. The mechanism shifts the trading subject from mintable tokens to non-mintable strings; whoever registers first collects the entry tax.
ABAB News · Cognitive Laws
- Unable to enter equity, buy its name in the address bar.
- Tokens will unlock, but a good domain is singular.
- The ranking of personal accounts is often more honest than portfolio reports.