Sei is building a DeFi-focused layer 1 with a built-in global order book
Unlike distinct app-chains, Sei is not building a DEX or other DeFi primitive themselves, but are rather opening it up for third parties to deploy applications
0/ Excited to announce Multicoin co-led a $4M seed round in @clockwork_xyz (the Solana Riptide hackathon grand prize winner) alongside our friends at Asymmetric
tip @Techmeme1/ Clockwork runs as a plugin (sidecar process) on the actual Solana validator hardware, and is an automated task scheduler
What this means is that Clockwork manages a decentralized network of bot operators that turn the crank for various dApps on Solana and run background tasks
Dec 22, 2021 • 7 tweets • 2 min read
0/ some random thoughts
broadly speaking (grossly oversimplified ik) 5 types of investors in crypto
Team blog here - swivel.substack.com/p/swivel-finan…1/ Just as we spent a long time thinking about synthetic asset constructions in DeFi, we’ve been thinking about the fixed-rate DeFi space for 12 months. When we met @TraversaJulian, Swivel’s founder earlier this year, we instantly recognized the elegance of Swivel's construction
Jun 11, 2019 • 23 tweets • 6 min read
1. People reached out after Maker thread asking why I think Seignorage Shares (SS) stablecoins (e.g. Basis) are likely to fail. There's been skepticism already (see @QwQiao & @prestonjbyrne). In this thread I'll make the case that Soros Attacks could kill SS stablecoins
2. The SS approach to creating a stablecoin is remarkably straightforward—the protocol automatically increases or decreases the supply of the stablecoin in response to market demand to try to keep the price relatively stable. This approach is based on the Quantity Theory of Money
Jun 4, 2019 • 25 tweets • 13 min read
1. I recently had a chance to dig into @MakerDAO statistics for the past 1.5 years since SCD launch (@bennybitcoins pays attention to Maker day-to-day, so he's better for specific Q's)
Anyways, the conclusion of the data set is amazing. Maker is growing at a staggering pace 💯
2. Maker is a DAO, managed by MKR holders, built on Ethereum. It provides a credit factory that allows users to do 3 things:
- Trustlessly take out loans using crypto as collateral
- Instantly add leverage to their existing portfolios
- Produce stable cryptocurrencies called Dai
May 3, 2019 • 25 tweets • 11 min read
1/ As a follow-up to @MessariCrypto's work, I had some fun digging into XRP II, LLC (Ripple's licensed MSB). The company sold $61.93M of XRP to inst'l buyers and $107.49M programmatically on exchange in Q1 2019. This is the publicly viewable XRP II address bithomp.com/explorer/xrpII2/ My reasoning for a thread is to open a discussion on XRP II, LLC's inst'l sales. Many in the XRP community note that XRP II is not directly sending all of its funds to exchange. However, that doesn't paint the whole picture. A lot of the XRP ends up on exchange *indirectly*
Apr 9, 2019 • 15 tweets • 3 min read
A thread in English on what v2 means for @AugurProject:
1/ Dai-denominated Markets: Augur markets are currently denominated in ETH. This means that users must take on two forms of risk: risk in the market they’re betting on, and the ETH-USD price. Dai will remove the second risk
2/ Invalid as Explicit Outcome: In Augur's current version, malicious users can purchase less probable outcome shares & flip them for 0.5 ETH (or 1 ETH / # of outcomes) in the event of an invalid market. With invalid as explicit outcome, this exploit is entirely impossible
