1 Mirror Mirror on the Wall, Who's the Fairest Protocol of All? @MikoBits show speaks to @barnabee of @vegaprotocol about front-running and exchange fairness
2 A blockchain is a consensual reality. We consent to join it and we consent to use it and we stay there as a function of being treated fairly there.
3 The reason people have gone to blockchain is because they feel machines will treat them more fairly than banks and governments have done.
4 And ultimately, the fairest system will have the most users. @barnabee talks about how existing exchanges and blockchains are inherently unfair
5 One measure of unfairness is front-running or miner extractable value (MEV). So this is fixed in VEGA by having fair ordering.
6 In life, it's super important to know if Alice or Bob was first in line, and this turns out to be extremely important in order management in exchange.
7 The entire promise of DeFi is premised on smart contracts providing logical, machine based fair rule application. And exchanges also need to be made fair.
8 Interestingly, AMM can produce some measure of fairness but at the expense of capital efficiency. Money tends to sit in TVL not doing anything.
9 @barnabee provides a great future vision for fairness, exchange and how capital efficiency can be used to unbundle risk and create a better world for derivatives trading
10 The idea that started this tweetstorm is the idea of a "mirror" that tells you who is fair. We are creating many virtual environments and the "fairest one of all" will create the largest community and be the eventual winner.
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