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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More from @mikojava

12 May
1 How to start with cryptocurrency a guide for the beginners in your life.
2 First step. Realize that this is a multi decade journey like the creation of the consumer Internet and that we are all still early. Very very early. Relax.
3 Ok how to start? Start small. Take an amount that you can imagine throwing into the Grand Canyon.
Read 11 tweets
12 May
1 Speaking with @leokcheng of @creamfinance on the @MikoBits show #DeFi #cream
2 Leo talks about Capital Efficiency, one of the main problems solved by C.R.E.A.M
3 He makes the astute point that TVL is to a degree a measure of inefficiency. You kind of want your value moving around and doing things.
Read 10 tweets
12 May
1 Here's the skinny of $WOOFY woofy.finance
2 There's been incredible ape energy in the market lately with pointless projects getting lots of attention and energy
3 Naming a coin after a dog and giving it a low price per coin seems to be a signal to apes.
Read 7 tweets
11 May
Here's another post from Zuck that will get the #Bitcoin community buzzing as well.
now of course he could be talking about VR stuff, but it's hard to believe something that has been going on steadily for so long at FB would be that exciting for Mark
I figure it is something to do with that absolutely massive group of engineers working on Libra/Diem
Read 4 tweets
10 May
1 @StellarOrg on the @MikoBits show explaining What is Stellar ($XLM) with SDF's own @jricetweets
2 Stellar seems to me like $XRP 2.0 and interestingly enough shares a founder @JedMcCaleb
3 A little bit about Jed from @jricetweets
Read 4 tweets
10 May
all consensus reality is moving to digital/symbolic and the most valuable consensus reality is moving onchain
this is more of a retreat than a move. it turns out meatspace is not supportive of consensus reality
On the plus side, as soon as people consent to an online reality, they are playing a game together.
Read 10 tweets

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