Alwin Peng @AlwinPeng Twitter profile

Last Seen Profiles

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@telvette

@MisterDisco_

@ajplus

@ChewBo2

@SLKoole

@biab_14

Alwin Peng

@AlwinPeng

19 days

> be me, diagnosed with autism > high school years, everyone's glued to Instagram > not me though > prefer banging out code on my dusty old laptop instead of chasing likes > get really good at it, like Neo-in-the-Matrix good > fast forward to adulthood > decide to build my own

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Alwin Peng

@AlwinPeng

2 months

raising the bar here at @vertex_protocol (yes we do have the best backend in crypto in multiple ways 🍑)

Richard Teng

@_RichardTeng

2 months

7 chin-ups to celebrate BTC hitting 70k. To the moon 🚀🚀 Don’t ask me to do 12 when it hits 120k 😂😂

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Alwin Peng

@AlwinPeng

4 months

moved in with parents to maximize no life coding all my worldly possessions are a 49 inch monitor, huel, and a pull-up bar

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Alwin Peng

@AlwinPeng

3 months

holy fuck, someone deepfaked my voice and opened a support ticket trying to get perms on the vertex discord claiming to be a temp account remote-first companies have to contend with no longer being able to trust anything digital

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Alwin Peng

@AlwinPeng

5 months

1/ Vertex routinely hits 10k+ TPS with negligible performance impact in production. How? Tree Topology Parallel Processing – a custom parallel rust EVM implementation that can handle tens of thousands of transactions per second

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Alwin Peng

@AlwinPeng

4 months

some disconnected thoughts on the parallel evm narrative: 1/ i dont think there is an app that is enabled by an upcoming or current parallel evm chain that you cannot build on solana right now 2/ evm probably doesnt win performance wise long term; its a weird vm with lots of

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Alwin Peng

@AlwinPeng

5 months

1/ Nation-states are valued differently from corporations Many @ethereum protocols like @dYdX , @vertex_protocol , and @CurveFinance do @solana level revenue with 1/50 to 1/1000x of the market cap. Why don’t the fundamentals line up? A thesis on why L1s have a premium:

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Alwin Peng

@AlwinPeng

15 days

got a girlfriend today bull market is over

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Alwin Peng

@AlwinPeng

2 months

eth’s dencun upgrade has allowed @vertex_protocol to distribute an additional 100k weekly to $VRTX stakers that would have otherwise gone towards gas! much love to @arbitrum for moving so quickly to take full advantage of the upgrade!

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Alwin Peng

@AlwinPeng

3 months

1/ recently, @vertex_protocol made some noise with the edge announcement – a futures exchange, spot exchange, and money market that settles on many evm chains a 🧵 on the thinking that influenced edge’s design, and why i think edge is unique and compelling

Edge

@EdgeLayer

3 months

1/ Introducing Edge - Powered by Vertex ✨ Edge, is a game-changing Synchronous Orderbook Liquidity layer that unifies cross-chain liquidity in DeFi. It’s time to unlock a multi-chain future where liquidity among chains is no longer fragmented... 🧵⤵️

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Alwin Peng

@AlwinPeng

10 months

honestly surreal to see something you've built from scratch have metrics denominated in billions of dollars this time four years ago, i was 17 and in the process of dropping out of military school. life comes fast

Vertex 🏔

@vertex_protocol

10 months

Total aggregate volume on Vertex has now surpassed $3 billion since mainnet launch on @arbitrum 📈

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Alwin Peng

@AlwinPeng

16 days

I’ve run so many blockchain nodes over the past years, starting with Terra Classic @arbitrum might be the only one where you can let it sit for months and it still Just Works

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Alwin Peng

@AlwinPeng

11 months

1/ why i dont agree with the “exchange as an L1'' narrative, and why is vertex not (yet) a blockchain a) the speed of light is too slow

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Alwin Peng

@AlwinPeng

14 days

> be me, very important crypto KOL with whopping 9.5k followers > every tweet is about how I'm driving my Lamborghini to the moon thanks to crypto gains (don’t even have a license) > reply to every critique with "stay poor then" > start a YouTube channel where I give financial

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Alwin Peng

@AlwinPeng

20 days

1/ Coinbase sparks normie joy. Web3 does not. Why? Crypto is really scary for normies because we bid platforms like morons Current platforms deliver TPS and “smoothness,” but don’t deliver the feeling of safety that comes with good web2 apps

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Alwin Peng

@AlwinPeng

10 months

1/ yesterday was a pretty volatile day for some alts because of the XRP news a 🧵on what that looks like from the backend of an exchange

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Alwin Peng

@AlwinPeng

5 months

degeneracy becomes stablecoin yield on @vertex_protocol : - BTC-PERP has 35% annualized funding from long degens - spread degens borrow USDC to long BTC spot and short BTC perp for funding arb; possible because all cross-margined - passive USDC depositor APY hovers at 10-20%

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Alwin Peng

@AlwinPeng

5 months

USDC.e collateral in @vertex_protocol currently earning 16% APR because degens are borrowing against wETH and wBTC. collateral for perps earns interest by default

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Alwin Peng

@AlwinPeng

11 months

1/ how can we claim that we are building a better financial system when we don’t even use it ourselves?

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Alwin Peng

@AlwinPeng

18 days

Breaking news: My autism tweet hit 200 likes, so I'm retiring from engineering to become a full-time KOL 🎉. My premium services include crafting lengthy Twitter threads using ALL CAPS and fancy words to masterfully say absolutely nothing 🚀 DMs open for business inquiries!⬅️

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Alwin Peng

@AlwinPeng

3 months

was holding in a massive dump the entire time, not enough social skills to mention having to take a dump "It's a lot more than mind over matter. It takes relentless self-discipline to schedule suffering into your day, every day." - David Goggins

Andy

@ayyyeandy

3 months

Just finished up a really fun and educational pod with @AlwinPeng talking about the onchain perps landscape, Vertex's upcoming launch on @Blast_L2 , his takes on the appchain thesis, and much more! Coming 🔜

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Alwin Peng

@AlwinPeng

3 months

-1 video editor for blast big bang +1 full time degenerate

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Alwin Peng

@AlwinPeng

5 months

sometimes i wish i could go back to solving problems just because they were hard or interesting, instead of having to think about narratives and business realities anyone else? where did the party go

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Alwin Peng

@AlwinPeng

3 months

tweeted last week on @vertex_protocol 's edge design being uniquely suited to win deal flow today @tradeonblitz has won @Blast_L2 big bang! frankly, will be least bullish announcement we make in Q1 we are going to win until you get tired of winning, and then we will win more

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Alwin Peng

@AlwinPeng

5 months

9/ Are we going to take this and spin up our own L1? We’ve been cooking up some ideas. The need for single digit latency and 10k+ tps constrain our design space pretty hard. We’ll have more to say on this later

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Alwin Peng

@AlwinPeng

11 months

1/ blockchains upend millennia of retroactive governance

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Alwin Peng

@AlwinPeng

11 months

neat! back to work 🔨

Vertex 🏔

@vertex_protocol

11 months

Vertex’s 24-hour trading volume just hit a new high of more than $100 million across spot & perps 📈

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Alwin Peng

@AlwinPeng

3 months

broke: getting free stuff at crypto events woke: martial combat with the organizers @ZeMariaMacedo

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Alwin Peng

@AlwinPeng

11 days

What is blocking an on-ramp that takes revenue share with dApps instead of a high flat fee? The cheapest on-ramps are all CEXs because the regulatory costs are amortized with a profitable business We need the same for dApps!

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Alwin Peng

@AlwinPeng

2 months

block withholding attacks – a story of bitcoin mining centralizing towards a few large pools the largest mining pools run payouts either on PPS or FPPS. while there are minor differences, the general idea is to pay miners frequently based on the expected value of their

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Alwin Peng

@AlwinPeng

5 months

2/ In EVM, you can think of a contract call as creating its own state separate from the rest of the computation, the ‘boundary’ being when the call starts or finishes If it succeeds, changes from the call are propagated back up the call stack, otherwise they are dropped

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Alwin Peng

@AlwinPeng

20 days

7/ I think platforms need to look beyond the same old community and blockspace as things they can offer. Real users care more about safety than TPS For @EdgeLayer , our exchange platform, we are going to scale safety to as many blockchains as possible

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Alwin Peng

@AlwinPeng

9 months

1/ chaos is a ladder, a 🧵on volatility as the house

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Alwin Peng

@AlwinPeng

20 days

2/ The disconnect is that in the web2 world, normies use walled gardens of optimized individual apps, but in web3, they are thrust onto a fully open platform and forced to navigate anarchy We are trying to convince Americans to learn how to survive in Yemen

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Alwin Peng

@AlwinPeng

21 days

gauntlet report on ezETH liquidations a bit disingenuous -- highlighting depositors only being down 0.11% their picture shows borrowers spending 7236 ezETH buying 5839 ETH -- over 20% down sure borrowers take on risk, but they didnt need to gift millions to liquidators here

Gauntlet

@gauntlet_xyz

21 days

1/ Following the ezETH liquidity crunch and price drop, we posted a Morpho forum update covering the impact on Gauntlet LRT Core. tl;dr - LRT Core suppliers in the vault for more than 2 days are net positive in their supply position given accrued interest. More below 🧵 👇

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Alwin Peng

@AlwinPeng

11 months

thank god for chatgpt now im only autistic in person

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Alwin Peng

@AlwinPeng

20 days

5/ At @vertex_protocol , we have all the major bits of DeFi in one product, and apart from deposits and withdrawals, users are not really exposed to the underlying blockchain When the Arbitrum and Blast sequencers went down, we processed millions of trades without missing a beat

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Alwin Peng

@AlwinPeng

5 months

7/ The top 100 are almost a ranking in cultural significance to crypto on a whole – even including an entry from Luna Classic. The best L1/L2 teams we’ve talked to at @vertex_protocol have a focused strategy on how they plan to curate the “vibe” of their chain

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Alwin Peng

@AlwinPeng

20 days

6/ But to go further, users need to be able to deposit and withdraw through wire transfers, or pay from their balance Right now, before reaching us, users still have to sign up for a CEX, do KYC, and swap fiat. That should be internalized, even if it means acquiring a bank

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Alwin Peng

@AlwinPeng

20 days

4/ The path out is vertically integrated apps that insulate end users from the wild west, but this is hard, from both technical and regulatory standpoints

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Alwin Peng

@AlwinPeng

11 months

12/ to summarize, i think the 0 to 1 moment for DEXs will be when one is able to A) match or surpass most CEXs in performance, and B) convincingly secure customer deposits. i think neither of these is compatible with the physical and social constraints of standing up a new L1

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Alwin Peng

@AlwinPeng

11 months

13/ painting a picture for vertex: ✅ match CEX performance and experience ✅ withdraws still ultimately settle on ETH ✅ get a fuck ton of market makers on board

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Alwin Peng

@AlwinPeng

11 months

4/ to reach mass adoption, we need to build good products that happen to be decentralized, no compromises

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Alwin Peng

@AlwinPeng

11 months

2/ light takes 130ms to travel around the world, setting a lower limit for finality for any sufficiently physically distributed network of nodes. this is already an order of magnitude too slow latency wise to be competitive with CEXs

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Alwin Peng

@AlwinPeng

10 months

12/ all and all, this was a nice test of our infrastructure and risk framework. it seems likely more turbulent times are still ahead. we’ll keep scaling in the meantime!

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Alwin Peng

@AlwinPeng

5 months

8/ Beyond the architectural aspects that allow us to work in parallel, there were many small optimizations along the way – such not implementing gas metering because we didn’t need it or omitting merkle state root updates on every tx

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Alwin Peng

@AlwinPeng

5 months

2/ L1s (and to a lesser extent L2s) are sovereign, having the highest authority on everything happening in their blockspace

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Alwin Peng

@AlwinPeng

3 months

12/ to end with a call to action – if you’re working on an EVM blockchain, we respect the hard work you do bringing a community together. we stand ready to deploy billions in trading at a moments notice — dms are open, you’ve done your work, let us do ours

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Alwin Peng

@AlwinPeng

5 months

4/ Vertex’s implementation separates forking, execution, and committing. By doing this, we model our EVM as a tree, each node being a possible state and each edge being possible transitions

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Alwin Peng

@AlwinPeng

3 months

@KasperLoock @ZeMariaMacedo if your goal is to lose money why not just buy ADA

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Alwin Peng

@AlwinPeng

5 months

7/ Obviously since transactions can read / write from the same storage slots, we might have to discard branches of the tree because merging them into the root can cause a race condition with another branch

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Alwin Peng

@AlwinPeng

5 months

5/ Each node can operate independently in parallel, serving queries, forking off other nodes, and committing and discarding state. More cores == more speed

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Alwin Peng

@AlwinPeng

5 months

3/ Normally, these functions are forcibly bundled together; forking the state, executing contract logic, and committing or reverting the changes happen atomically. The computation graph looks like a line:

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Alwin Peng

@AlwinPeng

11 months

9/ decentralized money needs a decentralized medium of exchange, and i hope my work plays a small part in building that vision

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Alwin Peng

@AlwinPeng

5 months

6/ On committing: instead of merging backwards; we merge forwards and then re-root the rest of the tree. The “root” is canonical confirmed state, and it makes more sense to try and canonicalize transitions quickly instead of creating vast chains of unconfirmed state

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Alwin Peng

@AlwinPeng

11 months

14/ looking forward to testing these hypotheses in the coming months as we keep building

Vertex 🏔

@vertex_protocol

11 months

Total aggregate volume on Vertex has now surpassed $2 billion since mainnet launch on @arbitrum 📈

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Alwin Peng

@AlwinPeng

5 months

6/ In blockchains, I think heritage outshines all. In digital space, the barriers for immigration are much lower. Economic and governance policies (tech), can be forked or copied, and capital and users can be directed with incentives. You can’t copy a culture

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Alwin Peng

@AlwinPeng

5 months

4/ There are unique responsibilities and authorities that come with sovereignty, and the value derived from them transcends traditional cash-flow economics.

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Alwin Peng

@AlwinPeng

20 days

3/ We can’t say “this app is on Solana, so I can trust it,” the same way that you can trust that you’ll get your money back if someone steals your credit card Some chains like @Blast_L2 doing a good job incentivizing trustworthy apps, but users still lose millions

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Alwin Peng

@AlwinPeng

5 months

8/ CT argues about tech and fees and utility when the worst tech, highest cost chain sits untouchable at #1

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Alwin Peng

@AlwinPeng

5 months

12/ To cooperate in a trusted manner is difficult, but doing so strengthens crypto’s united self-sovereignty. Our team thinks this is amongst the most important work one can do in this space -- excited to work on this more and will have some news to share about this in January!

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Alwin Peng

@AlwinPeng

11 months

11/ it is far more important for withdrawals to settle on a truly decentralized base, than for everything to settle on a questionably decentralized L1

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Alwin Peng

@AlwinPeng

18 days

Note: I am only accepting compensation in hard assets like Cardano

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Alwin Peng

@AlwinPeng

5 months

9/ Protocols are corporations built on a shared cultural layer – they can drive impressive revenue and deliver more value to stakers, but the deeper cultural benefits accrue to the L1

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Alwin Peng

@AlwinPeng

3 months

10/ liquidity is aggregated across all chains, and every chain boosts value and yield across every other. for example, @Blast_L2 ’s native yield will automatically result in users on @arbitrum having a higher deposit rate on USD

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Alwin Peng

@AlwinPeng

2 months

@InsilicoTrading is the unambiguous #1 in the trading terminal game, with tens of billions in volume monthly across binance, bybit, bitmex, okx, and bitget excited for @vertex_protocol to be their only DEX integration!

Insilico Terminal

@InsilicoTrading

2 months

Insilico Terminal - now Onchain. Insilico Terminal has partnered with Vertex Protocol to provide our state of the art execution software on Arbitrum. Connect and trade now:

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Alwin Peng

@AlwinPeng

4 months

@lurkaroundfind I have the opposite viewpoint — No KYC is not an advantage; once a DEX becomes become sufficiently big the options are get regulated or die KYC / AML onboarding, while annoying, are genuinely useful things that stop criminals; the average layperson doesn’t want to have their

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Alwin Peng

@AlwinPeng

11 months

7/ when push comes to shove, and a government demands the seizure of assets, will your node operators fold?

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Alwin Peng

@AlwinPeng

10 months

11/ this performance made me quite happy, and it showed our risk model was quite robust through a 70% increase in price, with participants that injected stability into the system (liquidators and the insurance fund) all profiting from doing so

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Alwin Peng

@AlwinPeng

11 months

9/ yea, Ethereum blockspace is expensive, so necessarily offchain services need to triage transactions, and some state has to live offchain which could be gamed

Alwin Peng

@AlwinPeng

11 months

1/ blockchains upend millennia of retroactive governance

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Alwin Peng

@AlwinPeng

5 months

3/ Nation-states dictate economic policies, defend against threats foreign and domestic, and weave a national identity. L1s set fee markets, validate transactions, and find cult followings

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Alwin Peng

@AlwinPeng

10 months

@Tristan0x dude remember that call we had when you had just started zeta and i was still at jump inspired meh

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Alwin Peng

@AlwinPeng

3 months

dumps aside, had a blast talking with @ayyyeandy and @robbie_rollup , very well researched + genuinely great vibes

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Alwin Peng

@AlwinPeng

3 months

9/ edge is the only multi-chain perp exchange that is aligned with every chain that it is built on. trades settle to each chain independently, and activity on edge is activity on the underlying chains

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Alwin Peng

@AlwinPeng

3 months

2/ a prevailing narrative is that any reasonably successful app needs to go modular, and launch its own appchain or rollup. i disagree – i think it’s akin to saying that any reasonably successful company needs to start its own country

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Alwin Peng

@AlwinPeng

11 months

4/ b) a blockchain does not magically make something decentralized

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Alwin Peng

@AlwinPeng

5 months

11/ One thing I think is missing from the picture: in spite of cultural differences, nations are not isolated. They unite to protect shared values and interests. Eventually I expect blockchains to do the same

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Alwin Peng

@AlwinPeng

10 months

4/ one way to think about markets is that each order expresses an opinion about the world, and the purpose of an exchange is to aggregate opinions across various agents to come to some coherent conclusion (the current price)

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Alwin Peng

@AlwinPeng

11 months

3/ i find “the UX is definitely worse, but the tail risk profile is different,” an uninspiring and uncompelling pitch

Alwin Peng

@AlwinPeng

11 months

1/ how can we claim that we are building a better financial system when we don’t even use it ourselves?

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Alwin Peng

@AlwinPeng

5 months

@0xtigs artemis fowl and percy jackson was my childhood

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Alwin Peng

@AlwinPeng

5 months

5/ Countries with small GDPs can wield significant political and diplomatic influence, or be culturally and historically significant in a way that exceeds their economic size

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Alwin Peng

@AlwinPeng

11 months

8/ for me, solving technical problems comes easier than leading social movements, and it's better to use an existing decentralized base layer (Ethereum) than to build it yourself – especially when the construction of base layers has arguably only succeeded twice

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Alwin Peng

@AlwinPeng

11 months

5/ truly decentralized blockspace is a valuable commodity, and not only requires amazing technology, but years building a robust community. the final layer of security is always social consensus, and a community that wont hard fork and bend in the face of pressure

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Alwin Peng

@AlwinPeng

10 months

6/ as a new exchange with little operational experience around price shocks, we err towards overkill for provisioning compute. its hard to create tight bounds on how high things will burst. with no queueing, latency didn’t change across various load spikes, but we still monitor

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Alwin Peng

@AlwinPeng

11 months

3/ decentralization in and of itself is not a value prop. for someone who has access to tradfi, and no particular affinity to crypto, focusing a pitch on “different tail risk profile that youll probably find more difficult to reason about,” is not a winning strategy

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Alwin Peng

@AlwinPeng

10 months

7/ finally, any exchange that offers leverage is afraid of sudden price jumps. accounts that take on too much risk might not be able to be liquidated in time, and losses would have to be absorbed by the exchange (i.e. an insurance fund), or worse socialized across other users

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Alwin Peng

@AlwinPeng

5 months

@crypto_condom @keoneHD @CL207 @IamNomad @cryptunez @LordBogdanoff we've talked to several market makers at vertex with regards to privacy concerns -- some care deeply about it and others don't really -- one even said it was fine if there was a public realtime feed for everyone's placements and cancellations in general when you are just

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Alwin Peng

@AlwinPeng

11 months

6/ vertex is a really fucking performant crypto exchange. it supports single digit millisecond latency, over 100k tps, and universal cross margin across spot and perpetual futures users can trade with one click, take out loans, and earn interest on their deposits

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Alwin Peng

@AlwinPeng

3 months

3/ many think a general purpose blockchain is a jack of all trades and master of none. this isn’t true — general purpose L1s have the explicit mandate of making memes and uniting a community under shared values, providing the bedrock for anything built on top

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Alwin Peng

@AlwinPeng

11 months

6/ a distributed set of nodes is nothing without a distributed community of people behind them, who believe in the technology they are running so strongly that they will resist centralized coercion

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Alwin Peng

@AlwinPeng

4 months

@const_amit the key is never feeling a woman’s touch

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Alwin Peng

@AlwinPeng

11 months

5/ ive spent the past year reflecting on some of the failures in the crypto space, and building out @vertex_protocol .

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Alwin Peng

@AlwinPeng

3 months

6/ to general purpose chains, they are small, independent countries that open up predatory trade routes that suck up capital and activity – activity on the appchain doesnt happen on the main chain

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Alwin Peng

@AlwinPeng

5 months

@BlobzCapital @vertex_protocol @InsilicoTrading @CoinMarketMan @dYdX yes

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Alwin Peng

@AlwinPeng

10 months

9/ XRP moved pretty quickly, so some shorts became insolvent and drew down from the insurance fund. but since insurance takes a cut from every liquidation, it still finished the day in the green, from $58570 to $61250

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Alwin Peng

@AlwinPeng

11 months

10/ but people did not get burned by FTX because their matching engine was dishonest; people got burned because FTX stole customer deposits.

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Alwin Peng

@AlwinPeng

11 months

@vertex_protocol @0xBrightest @jediblocmates @blocmatesdotcom @arbitrum @DariusTabai pushing fix to testnet, will be fixed on prod during our maintenance window in 7.5 hrs

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Alwin Peng

@AlwinPeng

10 months

5/ it’s precisely the rare moments where many opinions change a lot all at once where A) exchanges provide the most value, and B) most exchange activity happens. so while stressful its these news drops that make our business worthwhile that we prepare for. about latency:

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Alwin Peng

@AlwinPeng

7 months

@pton_blockchain @CarlZielinski if i have children i will send them to princeton

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Alwin Peng

@AlwinPeng

3 months

7/ the conflict of interest is obvious: general purpose chains want to encourage the growth of native apps instead of outsourcing their economy elsewhere. they tariff foreign apps by only incentivizing native ones, and encourage users to support the local economy

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