strategy lead https://t.co/74GZIbbSl9 strategic advisor @LidoFinance @SteakhouseFi
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Sep 18, 2023 • 18 tweets • 5 min read
Because I was struggling with the FTX claims process, I put together some information and want to share in case it may be useful to others
First, the process will differ depending on the status of your account. What different flags are there?
Accounts can generally have two types of flag: either they are disputed in some way, or they are not.
Jun 7, 2023 • 17 tweets • 7 min read
DAOs, especially in Defi, are stuck between a rock and a hard place:
On the one hand, they need to decentralize early to avoid regulation.
On the other, they still need to innovate towards PMF, make good decisions, and develop a sustainable business model.
So wat do?
I have two core beliefs on this subject:
First, making good financial decisions is the single biggest low-hanging fruit today.
.@axiom_xyz , the startup scaling Ethereum through off-chain computation and zk proofs, is hiring on two key positions. Great opportunity to work in an elite R&D team:
Senior Backend Engineer jobs.ashbyhq.com/axiom/8ddae22f…
Feb 15, 2023 • 8 tweets • 2 min read
Just in time for Valentine's Day, Flashbots' product lead @bertcmiller unveiled a design document for our latest product: MEV-Share.
As the name implies, MEV-Share is a protocol for returning MEV back to the users who create it.
collective.flashbots.net/t/mev-share-pr…
When MEV-Share is live, users, applications, and wallets can send their transactions to a new RPC endpoint, where a "matchmaker" simulates their trades against independently created searcher backruns.
The resulting arbitrage profits are then kicked back to the user.
Feb 14, 2023 • 4 tweets • 2 min read
What the @monad_xyz team of ex-HFT engineers is doing to the EVM is simply incredible:
- Decoupling consensus from execution so that the two can run in parallel
- Intelligent pipelining of transactions so they can be executed in parallel
I think parallelized EVM is gonna be the next big meme after zk-EVM.
Monad may be a new EVM-equivalent L1 but the dramatic innovations developed here will benefit the entire Ethereum ecosystem.
Feb 7, 2023 • 7 tweets • 2 min read
For years, the North Star on Lido's Road to Decentralization has been allowing Node Operators to join without permission.
Today, I couldn't be more excited to share Lido V2 - a massive update for the protocol and a step change toward realizing that vision.blog.lido.fi/introducing-li…
Lido V2 features two big changes:
1. Withdrawals: Users can take stETH and withdraw ETH directly from the Beacon Chain.
2. The Staking Router: A new modular architecture that allows for adding and managing arbitrary new staking modules.
Jan 31, 2023 • 4 tweets • 2 min read
Problem: Computing things on-chain is prohibitively expensive (and in many cases, impossible)
Solution: Compute off-chain, post & verify zk proofs on-chain
I could say a lot of things but will prob limit it to one:
many people seem to think of the solo-player adventure/strategy/education type of games *they* played growing up, which may or may not have been a long time ago.
but modern games are *mostly* not like that anymore
many of the most popular games today have a single goal:
to addict the player as much as possible in an endless dopamine-driven compulsion loop to get them to spend money inside the game.
if you experienced games before they became crack, you can feel fortunate
Nov 26, 2022 • 4 tweets • 1 min read
hot take: if you work in the video games industry today, I see that about as bad as working in the cigarette industry in 1960/70s. destroying ppl's lives and families, it's just not yet commonly understood
games should be regulated like drugs and subsequently banned for minors
Nov 23, 2022 • 19 tweets • 5 min read
We are excited to make our biggest announcement to date.
After successfully isolating the centralizing effects of MEV to the block builder role, we are turning toward a new challenge:
The Endgame Plan is an exceptionally bad proposal, and it's really sad for Maker that it passed the signal (shoved through by @RuneKek singlehandedly in face of strong and justified criticism.)
How much of it will actually be implemented remains to be seen
I've never shared this before but in 2019/20, I got very close to starting the "Bitcoin Longevity Institute", a research hub with the mission to study very long-term threats that could potentially kill Bitcoin, like the declining block subsidy.
I eventually folded the idea because a mix of factors 1) strong resistance to the idea that Bitcoin may not be perfect as-is 2) little interest from big cos to fund it, I think in part due to the publicity risk from 1) 3) defi summer happened and sucked me more into Ethereum
Sep 15, 2022 • 5 tweets • 1 min read
the merge has only convinced me further that the intellectual state of the btc community is truly in shambles. the high-quality people who remain (e.g. bitmex research) are mostly covering ethereum now. I still love Bitcoin very much and hope for a restorative movement.
in 2020, Paul Tudor Jones said, "I've never seen an inflation hedge that had a kicker that you also had such great intellectual capital behind it (...) Bitcoin is a bet on human ingenuity and entrepreneurialism"
mev-boost is live so now we're waiting for a validator to request a block using the new builder API
still waiting for our first getHeader request, looks like proposers are conservative/still focused on managing their core setup
Aug 6, 2022 • 9 tweets • 1 min read
after some reflection, here's my take on a eth pow fork
1. many, incl me, have predicted for years that miners would fork ethereum to extract the final juice out of their investment. it doesn't take nostradamus to see this.
2. a lot of hashpower does not give this chain any significant value.
Jun 29, 2022 • 11 tweets • 6 min read
I just proposed a series of simple governance changes to @MakerDAO that would address many problems that exist in governance today. These include a general lack of vision and strategy as well as low accountability to MKR holders.
forum.makerdao.com/t/simple-maker…
At the core of every organization is what I call the "governance supply chain". Most organizations start with flat hierarchies but eventually run into the scaling limits of that approach. Hierarchy is introduced to unlock specialization, division of labor, and accountability.
Jun 25, 2022 • 4 tweets • 1 min read
Bancor was actually a much bigger scam than I think anyone anticipated. In return for protection from IL, LPs anchor themselves 100% to the value of BNT. But BNT, and all of their deposits, can go to zero in days.
Remember -- the way that AMMs work is that if you hold assets A + B in an LP, and A goes to zero, the AMM will sell all of B on the way down until the LP is stuck with 100% A -- and a full loss of capital on their hands.
Jun 20, 2022 • 4 tweets • 1 min read
Bancor’s shell game of IL hiding is collapsing. They print new BNT to compensate underwater LPs and call it “IL protection”. The cost is transferred to BNT holders via inflation, which causes further IL to all other BNT pairs, and leads to further inflation. A death spiral.
Excited to co-author what I see as a revolutionary proposal for @LidoFinance and Defi in general: our "LDO+stETH dual governance" system addresses the principal-agent problem between stakers and LDO holders by giving veto power to stETH holders. research.lido.fi/t/ldo-steth-du…
We're starting from the following problem statement:
Lido protocol is governed by the LDO token and this carries certain risks for stakers and by extension Ethereum itself.
Jun 7, 2022 • 13 tweets • 5 min read
As MEV is becoming even more important in PoS Ethereum, Flashbots is about to release mev-boost, a neutral middleware that allows any builder to openly compete in making the best blocks. This is great for validators, staking pools, and Ethereum itself. writings.flashbots.net/writings/why-r…
Block production consists of (1) building the best block from all available transactions, and (2) proposing this block to the network. The increasing difficulty of block building due to MEV is a centralizing force in Ethereum and the solution is to separate the two roles cleanly.
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