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SBF

14 Oct, 8 tweets, 2 min read

1) There's something really viscerally brutal about being tied to a token.

2) NOT INVESTMENT ADVICE. NOT TOKEN ADVICE. If you want to take this as advice on tying, go for it, as long as it's not related to any investments or tokens.

3) In the last six hours, $SRM is up ~4%. Most coins are down.

Which is awesome!

<3

Also I have no idea why. Literally no idea.

4) I mean I have *some* idea.

There have been buyers. Not one buyer -- buyers everywhere, on binance and ftx and okex and bithumb and bitmax and gateio and serum and sushiswap and uniswap.

Which is great!

5) But also some days there are sellers.

Some days people sell SRM, and everything else is up, and I have no idea why.

I mean sometimes I know why -- sometimes there's news -- but often, really, who knows?

Sometimes people buy, sometimes they sell.

6) So what can I do?

Well, I can try to grow the community, and help people out, and manage PR.

But mostly, I can build. And I can help others build.

https://twitter.com/SBF_Alameda/status/1313588597132591104

7) And it's brutal to realize you don't have control of the success of the token on a day to day level.

https://twitter.com/SBF_Alameda/status/1313588597132591104

8) Thanks to all who have supported, built, advised, and connected with SRM. And FTT, and SOL, and so much more.

And sorry for the lull in big releases -- sometimes tons of things find themselves in the 'building' phase at once. So be it -- the building is happening.

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More from @SBF_Alameda

SBF

@SBF_Alameda

16 Oct

1) Brothers in arms

2) not (investment) advice

3) Two years ago, Alameda Research nearly ended.

The full story is messy and sordid and contentious, but the short version is that in a month we went from invicible to struggling.

While things were good, all the employees gave things the benefit of the doubt.

Read 20 tweets

SBF

@SBF_Alameda

16 Oct

https://twitter.com/cyounessi1/status/1316968488481816578

https://twitter.com/cyounessi1/status/1316968488481816578

challenge accepted ;)

2) So, I *do* think AMMs make some sense for mean-reverty spreads.

Like some premiums.

Also, like USDC/TUSD/etc. (Curve!)

@cyounessi1

3) But you could do the same thing on a DEX.

the tricky thing here is that the two cases @cyounessi1 presents aren't quite the same.

Say there are two things--A and B--and over time A/B --> 1 (i.e. they converge).

In his case, treasuries and their futures.

Read 6 tweets

SBF

@SBF_Alameda

15 Oct

1) has been extremely volatile today -- moving up and down 100's of percents.

Also huge difference between exchanges, and between spot and futures.

Overall it was a pretty eventful launch!

Two notes:

--index

--price bands and failed orders

2) There is now an index for !

Binance USDT
Binance BTC
Huobi USDT
Huobi BTC
Kraken USD

Funding is quite negative -- close to 1% per hour for longs. Watch out!

3) hit price bands a few times.

This is generally your responsibility to understand, and we make absolutely no promises going forward; we likely will _not_ do this again, and definitely not for anything except exactly this, but:

Read 8 tweets

SBF

@SBF_Alameda

14 Oct

1) Can you fix AMMs?

2) NOT INVESTMENT ADVICE. NOT MARKET MAKING ADVICE.

3) The premise here is a little odd:

Providing in AMMs has made people millions this summer.

How are they broken?

Read 23 tweets

SBF

@SBF_Alameda

13 Oct

https://twitter.com/FTX_Official/status/1316096734276141056

1) There's a lot to unpack in the latest FTX index rebalance announcement:

https://twitter.com/FTX_Official/status/1316096734276141056

2) $ETC futures will be delisted from FTX. The instability of the blockchain makes finding a consistent index challenging.

Perpetuals will expire to the index in a week; quarterlies will expire as normal in December.

3) The DEFI, EXCH, ALT, and MID indexes are getting updates. Most of these are straightfoward reflections of recent market cap changes.

Note, in particular, that FTT is getting added to the EXCH and MID indexes.

Read 5 tweets