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Richard Chen Profile picture
@richardchen39
Jan 13 • 1 tweets • 1 min read • Read on X
Areas I'm excited about:

1) Non-USD stablecoins – onchain FX is the holy grail and liquidity for non-USD stablecoins is the bottleneck. Most teams here are too crypto-native, want to see someone take the Circle/Tether regulated route

2) Equity/RWA perps – perps are better financial instrument than options and futures in almost every way. Eventually they will be the most traded derivative in tradfi

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More from @richardchen39

Richard Chen Profile picture
Jan 27, 2024
New 🔥 Substack article just dropped!

[link in my Twitter bio] Image
Image
Image
Read 5 tweets
Richard Chen Profile picture
Apr 28, 2022
Why @PrimitiveFi is the "Uniswap moment" for derivatives:

A thread 🧵👇

dune.com/rchen8/Primiti…
Before Uniswap, DEXs like EtherDelta and IDEX just copied tradfi order book exchanges on-chain. Fragmented liquidity and gas costs of cancelling bids made this impractical.

When Uniswap launched with the 0 to 1 innovation AMMs in Nov 2018, they quickly dominated market share.
AMMs solved the problem of long-tail ERC-20 assets such that retail users could passively LP and there would always be instant liquidity for trades.

Despite slippage being bad compared to CEXs, this was back when professional market makers didn't care about tiny DeFi volumes.
Read 12 tweets
Richard Chen Profile picture
Oct 14, 2021
With the launch of the Hop ETH bridge today, I want to share the history of the project and how @WhinfreyChris, @shanefontaine, and @miguelmotah are missionary founders who stay focused and persistent in building a great product.

A thread 👇
First and foremost, Hop was a pivot from @authereum.

I came across Authereum when doing research on the crypto wallet landscape and became bullish on smart contract wallets. @WarcMeinstein offered to intro me to the team.
thecontrol.co/an-overview-of…
The team is super OG. Started Ethereum meetups back in 2016. Co-founded a smart contract auditing firm @levelk_io and audited blue chips such as @dydxprotocol, @OpenZeppelin, @gnosisPM, @AugurProject, etc. Grew it to $1M+ in revenue and used the profits to bootstrap Authereum.
Read 11 tweets
Richard Chen Profile picture
Mar 21, 2019
One big lesson @AugurProject and @veil taught us is how difficult it is to write precise markets. Below is a list of all controversial, ambiguous, and misleading markets so far: 👇
1) Will the weather be good for the Bastille day military parade in Paris tomorrow.?

The market description never defined what "good weather" exactly meant and thus the market ended up resolving as invalid.
2) Which party will control the House after 2018 U.S. Midterm Election?

@realPoyoPoyo's intent was Republicans since they controlled the House when the market expired on Dec 10. Yet after 6 rounds and 1458 REP staked in disputes the market finally resolved Democrats.
Read 8 tweets

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