On Rollups - normal, sovereign, and based All top 5 rollups by TVL are "normal" rollups: Arbitrum, Base, Optimism, Blast, and ZKsync.

Data availability (DA) lives on EIP-4844 blobs, there's a single centralized sequencer, and the canonical state root is determined by an Ethereum L1 contract.

The FriendTech Smart Contract 🧵 Surprisingly simple, but it is all onchain

You can see all transactions flowing through it on BaseScan at https://t.co/cGGF1cF4Kfbasescan.org/address/0xcf20…

why vAMMs are doomed to fail 🧵 first, what's a vAMM?

a virtual automated market maker is like a uniswap v2 pool without any actual liquidity. it simulates having liquidity, and moves prices up and down with buys and sells like it was xy=k

but there are no underlying tokens, just math simulations

Ledger can’t even keep its own story straight

https://twitter.com/pledditor/status/1658524159721209898

This was always obvious, btw. If they can recover your seed phrase for you when you lose your ledger, then they can recover your seed phrase when compelled by a government, when an insider gets bribed, when the database gets hacked, etc. TEEs get broken all the time

Stop using Ledger hardware wallets. Migrate away from them immediately. They’ve shown nothing but gross incompetence and wild misunderstanding of their own purpose. And now they’ve publicly admitted to intentionally backdooring their own proprietary hardware. Stop using Ledger “it’s opt-in, you don’t have to use it”

this is misdirection. a hardware wallet should have a secure enclave where the private key never leaves the device, under any circumstances

they’ve opened APIs for the enclave to send encrypted key shards to 3rd parties on the Internet

🥖 HOW TO AVOID GETTING SANDWICHED 🥖

1) go to docs.flashbots.net/flashbots-prot…
2) click green button
3) approve rpc
4) switch rpc

done, now you can go crazy with shitcoin slippage and the MEV bots won't get you

how and why does this work? 🧵 sandwich bots are only able to attack you because they see your buy order hanging around in the mempool before it gets included in a block

so you need to submit it to a private mempool instead of a public mempool

flashbots runs the largest private mempool, that's who to use

mainnet assets deliberately induce scarcity
testnets deliberately emulate mainnets
therefore testnet assets are scarce

cannot just "make a new one" to solve the scarcity problem, you must choose to explicitly drop one of the above two assumptions

https://twitter.com/refcells/status/1654874676383076353

we're not hardforking mainnet to make testing easier, so it's clear that testnets must relax their emulation assumptions to support widespread permissionless distribution

this can be done via ephemerality (rapid setup/teardown) or changing supply mechanics (infinite mint)

ultrasound money gas fees vs solana scaling

ansem's object-level description is unequivocally correct. ethereum is unusable if you have less than 10k. i'd take it further, even six-figure portfolios can't interact on a daily basis

https://twitter.com/blknoiz06/status/1654477226312716288

the ethereum plan is data availability (DA) scaling. a primitive form is live today, optimism + arbitrum + zksync + starknet all push data to the L1, with various forms of intermediate multisig protection that hopefully gets removed in time. arbitrum spent $2.3 million this week

Blur accelerated the NFT market, but did not fundamentally change it

How did it accelerate NFTs? By dropping trading fees (which increases organic liquidity) and incentivizing trading volume (which increases organic & inorganic liquidity)

Both are inevitable in mature markets… So this is not Blur changing anything about how NFTs operate. It is simply what happens as competition increases in new sectors

The immediate effect of lower trading fees was tighter bid-ask spreads. This benefits retail, who can both enter and exit at more attractive prices

Real World Assets, Blockchains and Stablecoins 🧵 1/ What's the main value prop of a blockchain?

Possible answers:
- faster settlement times
- verifiable programmability
- global interoperability
- permissionless participation
- censorship resistance

jason's an idiot but maybe we should be more concerned with the banks who gambled away all the depositor money, than we are about some tweets

just a thought, not very appealing to people whose entire solvency model depends on opacity and hidden lawmaker bribes tho "they're yelling fire in a crowded theater!"

well the theater appears to be on fire right now so maybe direct your anger at the arsonist over there

worst worst worst case SVB prob sees 95% recovery imo

so fair value is ~$0.995, not 92 cents lmfao

https://twitter.com/circle/status/1634391505988206592

that said if you go levered long USDC you deserve to lose all your money

Hundreds of millions of dollars are now flowing out of FTX wallets, some speculate liquidators but it's late on a friday night, not typical times for such rapid heavy movements. Some withdrawals are being swapped from Tether to DAI. Hack or insider actions? $26 million here Recipient wallet here: etherscan.io/address/0x59ab…

They seem to be moving everything

somebody on BNB just got hacked for ~2 million BNB ($600 million USD)

the attacker is spewing funds across liquidity pools and utilizing every bridge they can to get to safer chains

complete chaos on the chain is this diversification

1/ Explaining the zkEVM

- what it is
- how zk-rollups compare with other rollup types
- the competitive landscape for zk-rollup creators

And who really was first 😉 2/ A Layer-2 rollup is a way to batch user transactions together for cheaper gas costs while preserving most of the security guarantees of Ethereum mainnet.

Two main types: optimistic rollups & zk rollups