Locked out of Coinbase for the last week ๐
If your KYC team is gonna:
- invade customer privacy
- require document upload via sketchy phishing-like website
Then at least hire competent support staff k thx
USDC makes money by earning interest on the underlying dollar deposits.
If they don't share revenue with users in a high interest rate environment, a competitor inevitably will.
h/t
@MonetSupply
Long story but to put this in perspective:
- Coinbase uses ~25% of all ETH blockspace
- With diff. architecture, would use 20-40% less gas
Demand for blockspace is inelastic, so fixing this would mean significantly cheaper DeFi transactions
h/t
@ASvanevik
for checking my math
TLDR of
@ggdotzip
:
- IRL scavenger hunt
- godmode view of all players' locations is public
- spectators watch the game in realtime
- player cards are traded in realtime as odds change
Excited to see how this goes, and if they can successfully enforce location gating
Announcing Flashbots Protect: a suite of tools that makes it easier to use Flashbots for frontrunning protection
The first two Protect products are an API for developers and an RPC endpoint for end users
A brief thread about these products
Fun with
@ethereum
network visualizations.
Nodes: addresses
Edges: token transfers
Data:
@flipsidecrypto
The emergent structure suggests some sort of stablecoin DeFi spectrum.
More soon ๐
My second thought was: wait, doesn't this break liquidity mining schemes?
Because now a Uniswap NFT doesn't prove you're actually providing any liquidity. E.g., I can create a limit order *way* off the mid-market price that will never get hit. This shouldn't get rewarded.
Liquidity mining incentives are powerful.
So powerful that they can cause exogenous shocks to other protocols.
Is
@MakerDAO
up next?
Props to
@cyounessi1
for being ahead of the curve here.
DAO voting is broken. Voter apathy, not meeting quorum, whales dictating the vote
We need more novel mechanisms like vesting (veCRV), bribes (
@VotiumProtocol
), delegates (UNI, ENS), NFT voting, etc
What are some other interesting governance experiments?
1) Introducing SwanDAI - buy or hedge exposure to
#DeFi
black swans via synthetic assets!
Speculators and stablecoin naysayers can now put their money where their mouth is.
A thread on how we built it
@ETHBoston
:
๐๐ผ๐๐ผ๐๐ผ
I have delegated voting power for
@nounsdao
#175
to to the
@OrcaProtocol
orcanauts. More soon ๐
radically open bootstrapped creative community
๐ค
intuitive, modular, composable DAO governance tooling
Kuiper is a new permissionless index protocol that I had the pleasure to help out with.
It features a novel "bonded dutch auction" mechanism:
- market makers compete for the right to rebalance
- complexity is pushed out of the protocol
no token
DYOR
good luck have fun
Prediction:
@opensea
loses marketshare to competitors like
@LooksRareNFT
Liquidity fragmentation drives users towards aggregators (
@geniexyz
/
@gemxyz
)
Aggregators bring more volume to
@NFTX_
@NFTX_
liquidity providers and stakers outperform the market
What are the best resources to understand the strengths and weakness of the various bridging solutions?
Stargate, Synapse, Hop, Connext, Wormhole, Celer, Axelar, Gravity, etc etc
who is going to build a trustless marketplace for selling covered calls on NFTs?
- seller deposits NFT into smart contract
- seller defines premium, strike, expiry
- buyer can pay strike price to claim NFT at any time prior to expiry
- oracle not required
Leading cause of insane gas prices:
The absurd amount of arbitrage opportunities created by competing liquidity mining AMMs
Users don't always win with limited block space and gas fees higher than slippage + user fees combined
Base transaction fees are spiking because of a commemorative mint celebrating lower fees.
These are L2 fees. Blobs are still cheap.
Total fees are still ~10x lower than pre-upgrade.
Starting today, Coinbase Pro will pass along network fees directly to our customers. These fees (sometimes referred to as โgas feesโ on the Eth blockchain) are paid directly to crypto miners that process transactions and secure the respective network.
if you want to build Nouns-like mechanisms into your project, please message me
if it is a good idea I will fund you, and maybe
@nounsdao
will too
DMs open
it feels possible that
@nounsdao
will be be responsible (explicitly or implicitly) a large % of crypto/nft creativity and incentive design in the future
this will range from direct ecosystem projects to a much wider set of builders and designs that originated w/ nouns
๐Uniswap liquidity providers in the $YAM/ETH pool are playing with fire!
The first rebase will be at roughly 8pm UTC tomorrow 8/12.
Consider switching to the $YAM/yCRV Uniswap pool - which is already the most liquid ๐ trading venue.
๐จAttn YAM Uniswap LPs๐จ
The only Uniswap pool that is compatible with YAM is YAM/yCRV (Curve yPool tokens)
โ ๏ธProviding liquidity for other Uniswap pools is dangerous
๐you will LOSE your share of rebases
โ๏ธYAM holders may approve add'l pools via governance proposals.
The best proposal creation UI I have seen is from
@nounsdao
. Building complex transactions is easy and human-readable.
Free idea:
- generalize to work with any Comp governance fork
- add support for autonomous proposals
- become top of governance funnel
fee switch szn?
The SockSignal
How do you keep your feet warm on the internet?
How do you ensure they stay cozy all day long?
I am putting up the SockSignal.
Reply with your charts, graphs, stats, memes!
Bring attention to what is happening!
In the digital age this will happen very quickly.
Today, I'm excited to announce the founding of a new company,
@superstatefunds
Superstate's mission is to create regulated financial products that bridge traditional markets & blockchain ecosystems.
Running an experiment: anyone who wants to chat with me can book one of four 15-minute time slots per week.
Open to friends/acquaintances/strangers/anons.
DM me for calendly link
DAO treasury management made easy:
Do:
- publish an index on
@KuiperFinance
- deposit your treasury assets
- maintain custody of your funds
- delegate rebalancing to a portfolio manager
- let auction bidders execute your trades for you
Long story but to put this in perspective:
- Coinbase uses ~25% of all ETH blockspace
- With diff. architecture, would use 20-40% less gas
Demand for blockspace is inelastic, so fixing this would mean significantly cheaper DeFi transactions
h/t
@ASvanevik
for checking my math
Before 7am UTC ~9.5 hours from now:
Unstake from the incentivized Uniswap YAM/yCRV pool
Withdraw YAM and yCRV from Uniswap
Harvest YAM from all staking pools
Delegate your YAM voting power
Otherwise the ~$500k yCRV in the treasury will be stuck forever.
ok so PEPE trades have burned $10MM in gas in the last 3 weeks, but $100MM was burned in total.
why? Demand for blockspace is inelastic*
everyone else who wants to use ETH is paying more for the privilege
Running an experiment: anyone who wants to chat with me can book one of four 15-minute time slots per week.
Open to friends/acquaintances/strangers/anons.
DM me for calendly link
PSA: Everything publicly visible on a blockchain is soulbound, not just non-transferrable NFTs
The only difference is the level of integration support / SQL skills required to surface the connection ๐
airdrop sybil detection is a cat and mouse game
A for effort but still easily circumvented, especially when the rewards for successfully doing so are this high
DeFi pro tip that I did not know until today:
getting liquidated and paying a 13% penalty is entirely avoidable with easy-to-use automation
details here
๐ฆVerifying myself as a
@UniswapProtocol
#UNIDelegate
on Sybil๐๏ธ
addr:0x1a13C53d516f6E8321e9903F224861e74BBD7AA0
sig:0x2416beaf79ec6391e56f05e5b4625b6383fa2e730f38b3844a862b9116fe9ccc53563976fc1e196c159b430c9379d356f61ff7a276252736c77dd3236661263a1c
This work of art by
@Mad_Dog_Jones
perfectly demonstrates the complex ownership rights, and experiential possibilities that NFTs are capable of.
10/10 - this is an important moment on the NFT timeline.
happy yamiversary ๐
1 year since that wild saga started
grateful for the friends and people it brought into my life and, albeit tumultuous, the experience as a whole
Recently saw a
@code4rena
contest that caught a severe bug introduced by a fix from the previous auditors. It was missed by the mitigation review process.
Lesson: the risk of introducing a critical bug is not worth fixing a low priority one.
๐ขnew in foundry๐ข
gas reports! just add `--gas-report` to `forge test` command and get a pretty printout of gas usage
will hit nightly release tonight, so dont forge to `foundryup` tmrw morning
Weโre excited to announce that Nansen has raised $75M for our Series B led by
@Accel
, with participation from GIC,
@a16z
,
@TigerGlobalFund
,
@SCB10X_OFFICIAL
, along with additional prominent VCs and angel investors!
Read the announcement: