1)
On Being Lukcy
On Being Lukcy
2) I've spent most of my life being lucky. Not always -- right now we're running low on my favorite flavor of La Croix.
But in most ways that people think of as "meaningful" and "important" and "not just whining", I've been really lucky.
But in most ways that people think of as "meaningful" and "important" and "not just whining", I've been really lucky.
3) It started early with my parents--both objectively, and in terms of product market fit. I had support, and also the freedom to explore my thoughts.
I found a house that I felt at home with in college, and a job I liked after.
I found a house that I felt at home with in college, and a job I liked after.
4) And along the way, people supported me. When I took the wrong class senior year (oops) a professor intervened to make sure I'd graduate; and when I was growing at Jane Street, I had the best manager I've ever seen.
5) And though I did try at Jane Street, I spent most of my life learning to be ok-but-not-very-good at League of Legends.
Which isn't really the best use of the opportunities.
Which isn't really the best use of the opportunities.
6) Things changed when I got to crypto. For the first time I was running my own project; and the whole point of crypto is that you have the freedom and the responsibility to build what you think the world needs.
For the first time I threw everything at what I was working on.
For the first time I threw everything at what I was working on.
7) There were some really shitty times. A management dispute I didn't know how to resolve boiled over and a bunch of employees left in early 2018. It fucking sucked.
I was lost, so I did the only think I saw: I just kept going. Sometimes the only way out is through.
I was lost, so I did the only think I saw: I just kept going. Sometimes the only way out is through.
8) And eventually I was able to reflect on it, and come to peace with what lessons I had to learn and what was just bad luck.
But mostly, I've kept getting lucky.
But mostly, I've kept getting lucky.
9) The outpouring of support we've gotten from team members working until 3am, VCs backing us all the way, partners building with us, and counterparties working with us has been overwhelming.
And sometimes, that tailwind combined with a big opportunity.
And sometimes, that tailwind combined with a big opportunity.
10) I'm not sure it's really fair that we found ourselves in that situation.
But all the EV is in the tails--in doing better than just good.
And so when you find yourself with a huge opportunity, you run with it as fast as you can, straight towards the most ambitious goals.
But all the EV is in the tails--in doing better than just good.
And so when you find yourself with a huge opportunity, you run with it as fast as you can, straight towards the most ambitious goals.
11) FTX was one of those opportunities; Serum is another.
At the beginning we weren't so sold on it; our ideas were mediocre ("what if we put screenshots.... on the blockchain!")
But over time we became convinced we could build something huge.
At the beginning we weren't so sold on it; our ideas were mediocre ("what if we put screenshots.... on the blockchain!")
But over time we became convinced we could build something huge.
12) There's a whole world that could live on-chain, and right now DeFi is mostly re-wrapping stablecoin wrappers for yield.
And so we started from scratch: what's the best thing we could build?
And so we started from scratch: what's the best thing we could build?
13) As we started build out Serum, once again we received a humbling amount of support from the community--from our partners and backers and supporters.
And when people throw that much behind you, half-assing it isn't an option. So we doubled down.
And when people throw that much behind you, half-assing it isn't an option. So we doubled down.
14) And one part of shooting for the moon is that you have to keep thinking about what has the upside. That means not settling for a kinda-fast chain, or kinda-cool product, or average token.
15) The project started to take shape. It may not look like much, but this is the world's least sexy matching engine.
explorer.solana.com/address/9o1Fis…
It's also one of the fastest on-chain ones.
explorer.solana.com/address/9o1Fis…
It's also one of the fastest on-chain ones.
16) As I write this, SRM is at $2.10. By the time I post it, maybe it'll be at $3, or $1; who knows! Crypto is wild.
But more importantly, after months of sleepless nights spend at the office, Serum is imminent.
But more importantly, after months of sleepless nights spend at the office, Serum is imminent.
17) The ecosystem is growing!
See here for people building on Serum:
projectserum.com/integrations
And here for people gearing up to run a node:
projectserum.com/node-list
See here for people building on Serum:
projectserum.com/integrations
And here for people gearing up to run a node:
projectserum.com/node-list
18) I'm extremely grateful for all the support we've gotten. We couldn't have gotten here without it, and it went way above and beyond.
We've been really fortunate, and we intend to make the most of it.
We've been really fortunate, and we intend to make the most of it.
19) And, finally, a fucking awesome txid, hot off the blockchain:
explorer.solana.com/tx/4UmA4PBgGSU…
This is the first trade ever done on Project Serum.
explorer.solana.com/tx/4UmA4PBgGSU…
This is the first trade ever done on Project Serum.
20) Features will be rolling out over the next few weeks, including a functional, usable product.
We're really excited about all the interest we've gotten in using Serum.
And if you're looking to build, see the beginnings of the Serum source code here: projectserum.com/developer-reso…
We're really excited about all the interest we've gotten in using Serum.
And if you're looking to build, see the beginnings of the Serum source code here: projectserum.com/developer-reso…
