Greg Di Prisco | gdip.eth @g_dip Twitter profile

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Greg Di Prisco | gdip.eth

@g_dip

2 years

A thread summarizing the latest Maker Drama™ How we went from onboarding a US Commercial Bank to discussing how to depeg from the US dollar in less than two months. (1/38)

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Greg Di Prisco | gdip.eth

@g_dip

2 years

Lmao "sponsored by Circle"

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Greg Di Prisco | gdip.eth

@g_dip

4 months

A thread: *ALL ABOUT AJNA* @ajnafi Next week Ajna redeploys to the Ethereum mainnet and to multiple L2s. I think it's as good a time as any to share the story of how the project came to be, and why it was so insanely hard to build. The story begins in July of 2021 with the…

Ajna

@ajnafi

4 months

Real DeFi. Next week.

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Greg Di Prisco | gdip.eth

@g_dip

3 years

The Uniswap frontend is public and open source, to my knowledge. What's stopping all you keyboard warriors from hosting your own without the blacklist? 👀👀

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Greg Di Prisco | gdip.eth

@g_dip

5 years

Things I'm going to do today: 1. Print some money without selling my ETH (Dai with @MakerDAO ) 2. Use this money to buy ETH and bet on the #SuperBowl using @AugurProject (through @veil ) 3. Feel really smart or really dumb depending on the outcome

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Greg Di Prisco | gdip.eth

@g_dip

9 months

I keep getting the question "How would Ajna handle the CRV situation?" Let's think through it. For one, Ajna functions more like compound/aave than Maker/MIM in the sense that it sources liquidity from users and not from a native stablecoin. Second, there is no…

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Greg Di Prisco | gdip.eth

@g_dip

3 years

Does anyone else feel a huge improvement in UX since 1559? My transactions are instantly mined. Could be a coincidence?

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Greg Di Prisco | gdip.eth

@g_dip

1 month

The Maker/Ethena drama is so mid curve I can't take it. No, it's not going to spontaneously implode. It's also not a "no brainer." It's nuanced. USDe is going to scale to the double digit billions because it's an incredibly good idea and an amazing structured product to have…

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Greg Di Prisco | gdip.eth

@g_dip

2 years

To get involved in Maker governance: For further updates on the inner workings of DeFi, please give me a follow. I'm currently helping to build a truly decentralized lending protocol called @ajnafi and still doing new work in the RWA space (38/38)

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Greg Di Prisco | gdip.eth

@g_dip

5 years

A blockchain-based application just powered 4,405 merchant sales at a massive event and **only extracted $0.20 in rent**. How are people's heads not exploding?

Austin Griffith 🛠🚢🔥

@austingriffith

5 years

The Burner Wallet at @EthereumDenver was 🔥 AF!!! Smooth user onboarding powered 4405 meal purchases at $0.000046 USD per transaction means it cost $0.20 to run the entire event on xDai 😏 Plus, $38,432.56 off-ramped to food trucks!

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Greg Di Prisco | gdip.eth

@g_dip

2 years

LUNA is now at the point where Maker would trigger a liquidation on an ETH vault. Would have been way higher for a volatile token like this. I like to joke about the absurdity, but if you're holding UST... you don't want to be someone else's exit liquidity. There's no upside.

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Greg Di Prisco | gdip.eth

@g_dip

3 years

@mikedemarais Thanks for making a public repo of solidity devs looking for jobs 😂 #alphaleak

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Greg Di Prisco | gdip.eth

@g_dip

2 years

This deal took an incredible amount of coordination to close. A good comparison for doing a deal in Maker is trying to get something through Congress - except the political parties are not overt and the politicians are occasionally anons operating behind cartoon avatars. (6/38)

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Greg Di Prisco | gdip.eth

@g_dip

2 years

(Sidenote - Somewhat humorously, @bantg has discovered a great twitter engagement strategy where he lurks in the Maker discord and waits for Rune to say something ridiculous and then tweets it, which is how this spilled out of the forums and into the media.) (32/38)

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Greg Di Prisco | gdip.eth

@g_dip

6 years

"Friends, Romans, $TSLA bagholders, lend me your shares."

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Greg Di Prisco | gdip.eth

@g_dip

3 months

Hate decentralized “governance”? @m0labs has some good news → It’s no secret that I’m not a fan of decentralized governance. The current implementations of these mechanisms are an embarrassment to our industry. Governance is used in dapps when a subjective input is needed. In…

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Greg Di Prisco | gdip.eth

@g_dip

1 year

We're going to look back on oracles like smoking in restaurants "sir, please take that outside of the protocol or we'll have to ask you to leave"

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Greg Di Prisco | gdip.eth

@g_dip

3 months

A year ago, @lucaprosperi , @oliver_schimek , and myself set out to remedy what we viewed as structural deficiencies in the DeFi landscape. Today we are proud (with most of the thanks going to the team of nearly 50 people we have built) to release the M^0 whitepaper. The original…

Luca Prosperi

@LucaProsperi

3 months

The M^0 whitepaper is live. M^0 is an on-chain protocol, as well as a set of off-chain standards and APIs, that allows multiple issuers to mint a fully fungible cryptodollar: M. Minters connect to the protocol to manage the supply of M. Validators support the process…

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Greg Di Prisco | gdip.eth

@g_dip

3 months

While I'm saying nice things about VCs 😉... Ajna didn't have a traditional round and there was no lead, but @nascentxyz @hack_vc @hash3xyz were the fastest highest conviction "yes" I've ever gotten. If you're building something in deep DeFi, call them.

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Greg Di Prisco | gdip.eth

@g_dip

4 years

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Greg Di Prisco | gdip.eth

@g_dip

4 months

In case it's unclear, everyone is fired. Or at least I quit, so they might have to fire themselves? Also we no longer have editorial input on the Twitter account... God help us.

Ajna

@ajnafi

4 months

*Takes a deep breath* Commencing with its full launch on January 11, 2024, the Ajna protocol will be fully operational as a decentralized, permissionless lending, borrowing, and trading system. Consequently, Ajna Labs LLC (“Ajna Labs”) will no longer be involved in the…

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Greg Di Prisco | gdip.eth

@g_dip

5 years

"Ether has no utility"

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Greg Di Prisco | gdip.eth

@g_dip

2 months

I have to ask... If you're holding DAI and not putting it into this @ajnafi sUSDe collateral pool that's currently yielding 45% APR (~56% APY), especially considering DAI is about to be backed by USDe, what exactly are you doing with it?

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Greg Di Prisco | gdip.eth

@g_dip

3 years

SocGen submitting a MakerDAO collateral application Probably nothing... h/t @GArentoft

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Greg Di Prisco | gdip.eth

@g_dip

2 years

The majority of Dai is already backed by USDC, it doesn't matter whether it's at Coinbase or "in" Maker, it's already centrally controlled. Therefore this is an objective improvement as it's letting Maker earn more yield by taking the exact same risk.

Chris Blec

@ChrisBlec

2 years

I have formally voted on @coinbase 's proposal to capture $DAI. If this proposal passes, it will permanently end @MakerDAO 's claims of decentralization & censorship-resistance. See that tiny red blip on the "no" line? That's me. I'm the only recognized delegate voting against.

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Greg Di Prisco | gdip.eth

@g_dip

5 years

Friendly reminder that #DeFi is sucking up ETH like a goddamn force of nature

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Greg Di Prisco | gdip.eth

@g_dip

4 years

Venmo for Dai... But it's natively integrated with Twitter and earns interest 🤯

Dharma

@Dharma_HQ

4 years

1/ Introducing Social Payments 💸🐦📲 – a Twitter-native financial ecosystem. Today, you can send USD to any Twitter handle, regardless of where that person lives — even if they don’t have a Dharma account. Now *every* Twitter handle accepts (and earns interest on!) payments.

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Greg Di Prisco | gdip.eth

@g_dip

5 years

@MPtherealMVP To quote @MicahZoltu from like 3 years ago.. Crypto is an "opt-out" of the current system. It doesn't save countries, it let's people save themselves from countries.

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Greg Di Prisco | gdip.eth

@g_dip

5 years

BUG BOUNTY PROGRAM DESIGNED TO FIND BUGS IN UN-AUDITED TESTNET CODE FINDS BUG IN UN-AUDITED TESTNET CODE!!!!

WhalePanda

@WhalePanda

5 years

#DeFi MakerDAO's smart contract could've been completely drained of it's $ETH ($7.2 million worth) "The cost of performing the attack is almost zero". Would've been interesting to see if they would've done another bailout.

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Greg Di Prisco | gdip.eth

@g_dip

2 years

The forum and discord exploded with activity. The decentralists replaced Blec with @ameensol as their de-facto leader. In my mind this marks the new era - the battle for the soul of Dai. (31/38)

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Greg Di Prisco | gdip.eth

@g_dip

2 years

Every time Paradigm puts out something new I ask myself how the world ever existed in its previous state

Anish Agnihotri

@_anishagnihotri

2 years

We built a new faucet: ✅ Funds wallet across 4 testnets at once (Ropsten, Kovan, Görli, @optimismPBC Kovan) ✅ Drips 5 ETH, 5 wETH, 5K DAI, and 5 ERC721 NFTs ✅ No need to tweet your address, just sign in with Twitter instead

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Greg Di Prisco | gdip.eth

@g_dip

2 years

On August 8th, 2022 the US Department of the Treasury made the unfathomably stupid decision to sanction a piece of software - Tornado Cash. (28/38)

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Greg Di Prisco | gdip.eth

@g_dip

2 years

I wrote a post summarizing my thoughts on Terra's stablecoin, $UST. In summary, I'll be surprised if doesn't collapse under its own weight. Its growth causes a proportionate increase in its burn rate that will be increasingly more difficult to match.

“You’d have to be a Lunatic…”

The Actual Economics of the UST Stablecoin

gdipri01.medium.com

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Greg Di Prisco | gdip.eth

@g_dip

3 years

After four years of building and leading the @MakerDAO Business Development team, I was torn as to what my next steps would be when the Maker Foundation began its dissolution...

Matthew V Rabinowitz

@mrabino1

3 years

The world of finance changed last week. 1/x

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Greg Di Prisco | gdip.eth

@g_dip

6 years

Just bought my first AI Generated painting from @DrBeef_ on @SuperRare_co ! Robbie trains AIs with oil paintings and then makes them convince other AIs that they're real paintings.

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Greg Di Prisco | gdip.eth

@g_dip

2 years

@jackchong_jc @sophfuji Just go to the places where they're getting their source material. is probably a good start.

Ethereum Research

Civilized discussion furthering Ethereum research

ethresear.ch

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Greg Di Prisco | gdip.eth

@g_dip

1 year

David and I used to sit next to each other in the @MakerDAO NYC office, where I had a front row seat in observing his work ethic and dedication. He's *the* expert in DeFi community building. I know I speak for the whole team when I say how excited I am to have him on board.

Davidutro.eth

@Davidutro

1 year

☀️☀️☀️ Today I begin a new chapter as the VP of Grants & Sr. Community Manager @Ajnafi I have two goals 1. Build an amazing community where folks can learn and do business 2. Create a superb grants program aimed at protocol success. Excited to pour my heart into this thing 😊

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Greg Di Prisco | gdip.eth

@g_dip

2 years

No utility they said. No use cases they said.

Chipotle

@ChipotleTweets

2 years

Sooo get 99.95% off a new Garlic Guajillo Steak entrée when you spend your ETH using @FlexaHQ at Chipotle. Exp 10/4 or $20K in total redemp. In-restaurant only; no digital orders. Subj. to avail. 1/acct (max. discount $20/purch). Terms: . Offered by Flexa.

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Greg Di Prisco | gdip.eth

@g_dip

2 years

For me, I intend to continue to learn and listen. I honestly don't know what the right path forward is yet. My gut tells me it's going to be somewhere in the middle of all these paths. How would you choose, anon? (37/38)

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Greg Di Prisco | gdip.eth

@g_dip

3 years

Honest question - how is a coin that uses tons of electricity worse than a car that uses tons of electricity?

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Greg Di Prisco | gdip.eth

@g_dip

2 years

LOVE had broad support among VCs and the centralists, but no support from the futurists or decentralists. The unit was to be lead by @LucaProsperi who has done an excellent job of chronicling the saga here - (24/38)

# 42 | Valkyrie: MakerDAO and Our Side of History

DAOs In 2022: Dystopian Authoritarian Oligarchies

dirtroads.substack.com

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Greg Di Prisco | gdip.eth

@g_dip

2 years

First some context. MakerDAO uses token governance to make changes to the protocol. Most changes can be boiled down to (a) new credit lines, aka "debt ceilings", (b) new expenditures, mainly for "core units" of contractors. (2/38)

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Greg Di Prisco | gdip.eth

@g_dip

3 months

So what are Juiced Pools, actually? Or Why I love my anonymous cartoon internet friends ❤️ Before we ceased operations at @ajnafi LLC, we made a bunch of anonymous cartoon internet friends. It turns out they all contribute to @yearnfi . They asked us “what’s the plan for…

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Greg Di Prisco | gdip.eth

@g_dip

2 years

The decentralists are probably the oldest political group in MakerDAO and have never really had a figurehead (as decentralists are wont to do). But in May, @ChrisBlec became their de facto figurehead when he got about 6k MKR staked to him by toeing this party line. (14/38)

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Greg Di Prisco | gdip.eth

@g_dip

3 months

I tremendously appreciate all of our investors and partners, I don't have a single complaint. But it's worth calling out that @PanteraCapital has consistently, for a year now, went above and beyond in their role as the lead of our round. Every founder should take their call.

paul.nft

@veradittakit

3 months

1/ In April 2023, we @PanteraCapital announced that we were leading @m0labs seed round. Today, we are thrilled that they are introducing what they are working on to the world. 👇

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Greg Di Prisco | gdip.eth

@g_dip

2 years

So where does this leave us? The centralists make excellent points about the impracticality of such radical plans. That Dai will be functionally useless if it's not pegged to the dollar. The decentralists and futurists retort that it needs to exists to be useful. (36/38)

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Greg Di Prisco | gdip.eth

@g_dip

1 year

Imagine being a crypto VC and missing DeFi summer 2.0 because you fell in love with a pathologically lying chatbot

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Greg Di Prisco | gdip.eth

@g_dip

2 years

If you're unaware, MakerDAO is the largest single holder of USDC via its PSM mechanism. This isn't a new issue, after all that's why Maker was onboarding real world assets like HVB's loans in the first place. But the collective "oh shit" when this happened was palpable. (30/38)

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Greg Di Prisco | gdip.eth

@g_dip

1 year

Welcome to the oracle free zone! Interesting design. Similar to Ajna but seems to have a more peer-to-peer approach which will improve simplicity but limit functionality.

Dan Robinson

@danrobinson

1 year

Introducing Blend! @blur_io wanted a lending protocol with: * Arbitrary collateral, including NFTs * No oracles * No expiries * Market-set interest rates So @transmissions11 and I worked with them to design a new mechanism Here’s how it works 🧵

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Greg Di Prisco | gdip.eth

@g_dip

3 months

The LST/ETH pools on @ajnafi have hit a point that I think is ridiculous. For example, you can currently borrow ~400 ETH (over $1M) for 0.8% with ~15x leverage. So if you have 25 rETH you can basically be making 32% APY with comparatively little risk. *NOT FINANCIAL ADVICE*

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Greg Di Prisco | gdip.eth

@g_dip

8 months

This has made me more optimistic about decentralized governance than I've been in years. Nouns have built the best implementation of a DAO I've seen yet.

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Greg Di Prisco | gdip.eth

@g_dip

2 years

Immediately after this action, Circle, who has been spouting marketing nonsense about "muh DeFi" for years, blacklisted all USDC in the Tornado contracts. (29/38)

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Greg Di Prisco | gdip.eth

@g_dip

2 years

The futurists want to get the expenses that the centralists continue to incur off the DAO's balance sheet. They see corruption and waste in the core unit budgets. The centralists see vague dreams in the plans of the futurists, lacking practical next steps. (21/38)

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Greg Di Prisco | gdip.eth

@g_dip

2 years

The centralists don't necessarily have a figurehead, but if one were to emerge my bet would be on @SebVentures , as he's the most senior member of their ranks and (in my mind) has put forth the most proposals embodying their philosophy. (12/38)

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Greg Di Prisco | gdip.eth

@g_dip

2 years

In corner #2 there's the "centralists," who do not have as clear of a vision or leader. If I had to describe their position it's "get shit done." They are happy to sacrifice a bit of decentralization if it means something might actually happen in Makerland. (11/38)

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Greg Di Prisco | gdip.eth

@g_dip

2 years

The futurists are about advancing the vision of "clean money," i.e. the idea that Maker will be used to advance the obsolescence of fossil fuels, and by the "End Game Plan," a scaling plan from Rune that I've affectionately termed a Sci-Fi novel. (10/38)

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Greg Di Prisco | gdip.eth

@g_dip

1 year

@Jesse_Livermore Not fiat currency, huh?

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Greg Di Prisco | gdip.eth

@g_dip

2 years

It wasn't obvious at the time, but this deal was apparently the glue holding together the entire DAO political allegiances. Shortly after the vote passed, lines started to be drawn. (We can't really know if this is true, but it's my story so deal with it.) (8/38)

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Greg Di Prisco | gdip.eth

@g_dip

2 years

The decentralists primarily align with Dai holders, but in an ideological way. I.e. they're more concerned with the censorship resistance of Dai than its utility in the ecosystem. (18/38)

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Greg Di Prisco | gdip.eth

@g_dip

2 years

After Tornado, Rune ceased to believe that RWA was a viable option for the DAO. He has made his points here - - and here - (34/38)

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Greg Di Prisco | gdip.eth

@g_dip

3 years

Feb 2020: "Compound will not release its own stablecoin. We have zero plans to create a stablecoin, I'll go on record and say that, you can tweet that." - @rleshner Dec 2020: “Show me the incentive and I will show you the outcome.” - Charlie Munger

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Greg Di Prisco | gdip.eth

@g_dip

9 months

No one should lend their USDC on @ajnafi for 8.5% when you can get almost half that rate elsewhere. That would be a stupid strategy.

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Greg Di Prisco | gdip.eth

@g_dip

10 months

The sound of alpha leaking...

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Greg Di Prisco | gdip.eth

@g_dip

2 years

The centralists have a lot of members on the DAO payroll, whether core units or delegates, and are therefore generally aligned with the operational apparatus of the DAO. At times, they've been able to align the VCs (who pack big MKR heat if you can get them to vote). (17/38)

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Greg Di Prisco | gdip.eth

@g_dip

9 months

Governance is a bad solution, period. Something you use when absolutely no better alternative exists. Even then, it should be ruthlessly minimized. The only people dumb enough to think governance works better than markets are socialists. Trading and lending are not things that…

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Greg Di Prisco | gdip.eth

@g_dip

2 years

In corner #3 are the "decentralists." This is the "ideological right" of the DAO and they want absolutely zero centralized dependencies for the protocol. It's an admirable goal. The problem is there has yet to be a good way to achieve this. (13/38)

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Greg Di Prisco | gdip.eth

@g_dip

2 years

Rune's latest plans are nothing short of radical - to depeg Dai from the dollar and to push all core units and non-crypto vaults to the theoretical construct of Meta-DAOs. He has the support of his fellow futurists and the decentralists. (35/38)

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Greg Di Prisco | gdip.eth

@g_dip

9 months

There has been a quiet revolution fomenting in decentralized finance. The premise is simple, almost embarrassing; the “D” in DeFi is a farce and we need to do something about it before it’s too late. @ajnafi and others want to change that. 🧵👁️

Paul Frambot | Morpho

@PaulFrambot

9 months

It’s time to talk about DeFi’s risk management problems. We have avoided this topic for too long … and we're now paying the price. 🧵

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Greg Di Prisco | gdip.eth

@g_dip

3 months

I'm doing a thing where I use @redactedcartel 's apxETH to create @yearnfi yETH, but it takes a while and I want liquidity. If you have WETH, I'm willing to pay 10% for now to borrow vs the apxETH. (Front end options)

Summer.fi × Ajna

Ajna is a new money markets DeFi protocol. Benefiting from more competitive, market-driven parameters.

summer.fi

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Greg Di Prisco | gdip.eth

@g_dip

3 years

The clear move here is to buy $SOCKS before @mikedemarais prices them at infinity and then sells the LP NFTs at Christie's

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Greg Di Prisco | gdip.eth

@g_dip

4 months

F@*king finally, right?

Ajna

@ajnafi

4 months

Real DeFi. Next week.

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Greg Di Prisco | gdip.eth

@g_dip

2 years

The discussion that informs Maker's token governance happens on its Discourse forums and Discord server. These channels collectively comprise the "Maker Community" as you'll see it referred to. (3/38)

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Greg Di Prisco | gdip.eth

@g_dip

5 years

Things you couldn't say in 2016: "Hang on, I'm just firing off this tweet to help decide monetary policy for this central bank we started on the internet."

Joey Krug

@joeykrug

5 years

You don't raise rates from 1.5% to 10% in a swift move, crazy that that's on the table. Should be more gradual with increases imo, look to other similar margin loan rates at places like Interactive Brokers, at least start targeting around there 1st

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Greg Di Prisco | gdip.eth

@g_dip

1 month

Many others. Usually much smarter than me. But the problem is that truly decentralized systems scale inversely to centralized ones, so we're all going to need to have a bit of faith and patience if we want protocols like Ajna to reach mass adoption.

Ajna

@ajnafi

1 month

Ajna was designed because @g_dip and others believed DeFi borrow/lending could not scale with current governance models.

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Greg Di Prisco | gdip.eth

@g_dip

1 month

At @m0labs we're building technology that allows institutions to generate a fungible, structurally superior cryptodollar. We're launching soon and need someone to help us build a narrative/public presence that is as good as our tech. DM if interested

Senior Marketing Manager (f/m/d) | Jobs at M^0 Labs

M^0 Labs builds technology for the M^0 ecosystem. Based on a decentralized architecture and best-in-class collateral design, the M^0 platform allows institutions to issue a fungible cryptodollar. M^0...

m0labs.jobs.personio.de

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Greg Di Prisco | gdip.eth

@g_dip

2 years

In corner #1 there's the "futurists" (these are all names made up my me). The futurists are figureheaded by Maker's co-founder @runekek . (9/38)

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Greg Di Prisco | gdip.eth

@g_dip

9 months

Maybe they got tired of negotiating with "DAOs" and wanted an immutable home for borrowing against their token?

yearn

@yearnfi

9 months

Why are Yearn strategists aping into the YFI/DAI @ajnafi pool on @summerfinance_ ? 1) Misplaced nostalgia for DeFi summer? 2) Stacking Ajna rewards. 3) Incoming Ajna strategy alpha? Whatever you think the answer is, join them

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Greg Di Prisco | gdip.eth

@g_dip

1 year

So much work went into this! Really proud of the whole team.

Ajna

@ajnafi

1 year

Today we are proud to make the Ajna whitepaper public: What is Ajna? Ajna is a lending protocol with no governance, permissions or external price feeds (oracles). You can use it to borrow and lend against your entire portfolio, including NFTs. 1/9

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Greg Di Prisco | gdip.eth

@g_dip

4 years

Today Dai was featured in one the largest newspapers in Argentina. Blockchain and stablecoins are making a real impact in countries where the legacy financial system faces challenges.

Dólar hoy: la sigla que es furor entre quienes quieren dolarizarse en pleno cepo

www.lanacion.com.ar

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Greg Di Prisco | gdip.eth

@g_dip

4 months

Vitalik's crypto values 💪

vitalik.eth

@VitalikButerin

4 months

Make Ethereum cypherpunk again

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Greg Di Prisco | gdip.eth

@g_dip

19 days

While the ponzi games rage on, real applications are bubbling under the surface...

Poolpi

@poolpitako

19 days

Here's a project I wanted to use for a while. Under an @ETHGlobal hackathon, we released "DeFi Balancer Booster". A @gnosispay expansion using DeFi protocols like @safe , @yearnfi , @CoWSwap and @ajnafi in @gnosischain . Watch the video at Yes... 🧵

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Greg Di Prisco | gdip.eth

@g_dip

2 months

I use this every day. I try to avoid going to any crypto FE unless Llama sent me there.

0xngmi

@0xngmi

2 months

Since ppl arent aware, some time ago I built llamasearch, which expands google search with the most common crypto usecases: - Go to trusted websites (eg maker) and avoid scams - Check token prices - Check addresses on etherscan/debank

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Greg Di Prisco | gdip.eth

@g_dip

2 years

Up until now, the decentralists have been largely ignored. In the bull market the futurists and the centralists had agreed on enough to shove them aside when it came to votes. (22/38)

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Greg Di Prisco | gdip.eth

@g_dip

2 years

Now everyone in the community pretty much knows each other at this point. It's kind of like if they made the song "Hotel California" into a reality show. Don't worry about casting, we've got plenty of characters already. (4/38)

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Greg Di Prisco | gdip.eth

@g_dip

1 year

Oh my... What's that strange feeling?... Am I actually... Bullish on MKR? 😱

Sam MacPherson

@hexonaut

1 year

I’m super excited to announce the launch of ⚡️ Spark Protocol ⚡️ - a growth-focused arm of the Maker Protocol. Our first product is Spark Lend which builds upon Aave V3 to bring the best lending market features to Maker. 🧵👇

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Greg Di Prisco | gdip.eth

@g_dip

2 years

When the bull market was raging, all of these underlying ideological differences were swept under the rug. Everyone was doing well. This worked until the market pulled back and the DAO started losing money. The mythical end of this era was the closing of the HVB deal. (20/38)

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Greg Di Prisco | gdip.eth

@g_dip

2 years

They would argue that this *is* its utility in the ecosystem. They have Nikolai ( @delete_shitcoin ) on their side, Maker's other co-founder, and some of the OG engineers from the Core Units. (19/38)

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Greg Di Prisco | gdip.eth

@g_dip

3 years

Missing the point. The goal is censorship resistance, not collective intelligence. Honestly reaching the efficiency of an individual would be the DAO equivalent of the singularity.

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Greg Di Prisco | gdip.eth

@g_dip

2 years

@Remi_Tetot (1) You're obviously not going to delete yourself. Posting something like this makes it seem like you didn't learn anything. (2) I do think it would be helpful for you to write a thorough post-mortem on UST/LUNA, just like you would write on any failed experiment.

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Greg Di Prisco | gdip.eth

@g_dip

2 months

Hey @vaultsfyi how can @ajnafi get integrated? It already has 2 of your top 10 Vaults by APY via Yearn, but it would be 3 if you could see this pool as well:

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Greg Di Prisco | gdip.eth

@g_dip

2 years

Now it's important to understand the alignment of the various political parties in order to understand why they act the way they do. The futurists are mainly aligned with Rune and therefore their main allegiance is to the MKR token. (16/38)

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Greg Di Prisco | gdip.eth

@g_dip

10 months

That was a quick two years.

Ajna

@ajnafi

10 months

*clears throat* *does a little drum roll* *taps mic* Announcement of announcement time. Ajna launches at 9am Eastern Time tomorrow! *drops mic* *picks it back up again* LFG!

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Greg Di Prisco | gdip.eth

@g_dip

3 months

Hey @ajnafi this guy is calling out all of our competitors as potential marketplaces even though they had a lending market within 20 minutes of their launch tweet. This is an UNALIGNED PROTOCOL. I demand Ajna gubbernance remove this asset immediately. Wait... Shit...

G | Ethena

@leptokurtic_

3 months

Have seen a couple comments along the lines of: "I can just do it myself" Sure you can, think even my grandmother can It is not the cash and carry which is interesting in isolation, it is what you can unlock when this is trade is transformed into a liquid and composable token:…

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Greg Di Prisco | gdip.eth

@g_dip

2 years

Historically speaking, the LOVE unit itself should have been quite uncontroversial, but the meta had changed in the background and it was a victim of circumstance. The futurists and decentralists had found common ground. A new political alliance was born. (25/38)

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Greg Di Prisco | gdip.eth

@g_dip

4 months

Your community members say "wen token?" Our community members deploy Ajna on L2s for fun and without asking anyone for permission.

GUNBOATs 🦇🔊

@0xgunboats

4 months

now @ajnafi on @Scroll_ZKP

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Greg Di Prisco | gdip.eth

@g_dip

2 years

Now the final remaining point of common ground between the futurists and the centralists was that they both believed Maker needed to onboard real world assets at scale in order to deliver on the promise of Dai. That is, until Rune flipped sides. (33/38)

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Greg Di Prisco | gdip.eth

@g_dip

2 months

Fun fact: The ability to trade commodities on a blockchain (I was a commodity futures trader) was what got me interested in Ethereum in the first place - although at the time it was on BitShares. Better late than never. Excited to see @OstiumLabs finally making this a reality.

kaledora

@kaledora

2 months

just traded natural gas for the first time ever on a blockchain

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Greg Di Prisco | gdip.eth

@g_dip

4 months

Once again, we no longer control the X account.

Ajna

@ajnafi

4 months

@printer_brrr @g_dip Come on. None of those even have the word cum in them…

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Greg Di Prisco | gdip.eth

@g_dip

2 years

The latest Maker Drama™ begins when, with the help of my company (RWA Co.), Huntingdon Valley Bank (HVB) was awarded a 100M Dai debt ceiling to help diversify Maker's real world asset portfolio out of USDC. (5/38)

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Greg Di Prisco | gdip.eth

@g_dip

2 months

Assuming this is bad for my portfolio?

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