Prev Researchooor @reserveprotocol | I enjoy concentrated walks along the bonding curve, small keyboards, and governance drama
Joined January 2020
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been thinking a bit about this, and think it comes down to risk diversification adding friction to entry/exit flow
like if suddenly 20% more signups in area A, now a big storm there fucks me, so sorta need to force diversification of like tranches of risk.
Very index like.
Can see this reflected in Synthetix, where debt pool exposure follows Synth demand and debt holders need to actively hedge these changes.
So to me either need very active individual hedging, or index-like collective hedging via enforced diversification of exposure backing.
MΞIR retweeted
- Delegating @safe signing authority
- Granting @SnapshotLabs voting rights to verified voters
- Transparently tracking contributors across different workstreams
From the recent Hatathon, three new Hats trees from @Lemma_Solutions, @daocoalition, and @SuperchainEco
🧢🧢🧢
MΞIR retweeted
there's a comfort in the insulation of a cause, disillusionment is an unwilling revocation of that comfort. it's violent, it stings, but it does dull
the mass disillusionment among eth devs is a growing pain. i don't like it either. i have a deep nostalgia for when i knew so little about how the world worked, when uniswap and aave were grand experiments in an ideological shift in society
but every time the curtain is lifted, when consensys acquires the corpse of a hijacked dao, when the people you look up to fund sexual predators, when the open source team is replaced by those beholden to their lp's, you get the feeling that things aren't what we hoped
in hindsight the frankensteined libertarian marxist ideas of how the world should work would never have wholly subverted the systems under which we live in such a simple and unnuanced way. porting capitalist behaviors to a neutral network was always going to go this way
i might deeply despise the companies that happen to be in crypto, whether it's arbitrum's kyc provider hard doxxing self-labeled "bad actors" or fuel's intense psychological warfare in the aftermath of adler & alex getting nixed. but i don't hate crypto
there are value-adds to civilization here. without speculative capital i don't think zk research, consensus mechanisms, or distributed computing would be where they are today. sooner or later you have to touch the dirty money, no way around.
i still grapple with my own morals & ethics, struggling to find the motivation to work anywhere within this ecosystem. it keeps me up at night. maybe it's unpractical idealism, maybe it's the trauma of casino's that feed on the poor and shit political lobbies
but life itself is unethical, something has to die for you to eat, someone has to lose money for you to profit. sooner or later we have to confront this
fwiw at least you're not alone. i love you guys 💜
MΞIR retweeted
Happy to share this piece that brings me back to my roots.
Crypto is now an interconnected part of the global financial system. The same effects that impact stock and bond returns also impact crypto returns.
tl;dr: sometimes the coins go down because everything goes down
✨New research ✨
We teamed up with @circle and the Copenhagen Business School to explore what drives crypto asset prices, examining the impact of:
+ Monetary policy
+ Broad market risk premium
+ Crypto-specific demand
blog.uniswap.org/new-researc…
MΞIR retweeted
if you haven't read this, great zoom out on defi from @nagakingg
blog.reserve.org/the-defi-re…
MΞIR retweeted
Reason # 42069 that we built a SaaS payments streaming protocol that is self-custodied, censorship resistant, and available 24/7/365
Is Stripe de-platforming crypto companies?
We've been locked out of our @stripe processing capabilities for 2 days with zero warning. They are now responsible for $50k in frozen/lost revenue with no answer from their "risk team" or "priority support" on when our account will be unlocked.
We've been a customer since 2018. Offering the same product and subscription service as we do today. And for whatever reason our account got flagged as "high risk" and they paused our ability to accept any payments or receive payouts - and I will reiterate, with zero warning.
We have talked to contacts from our network across the org at Stripe, who all want to help and are trying to get answers from the mysterious "risk team" that is apparently a total black box and refusing to respond.
We have been in the middle of a big engineering effort to consolidate MORE of our operations into Stripe with Stripe Billing and other tools for simplicity. Obviously going to be completely rethinking that strategy.
Good thing our customers (new and renewing) can still pay us in #bitcoin with @BtcpayServer, straight to our own self-custody vault. We've been accepting bitcoin as payment for years and haven't sold any of it since 2020.
If this isn't a giant flashing ad for the importance of self-custody and decentralized payment networks, I don't know what is.
This all seems absurd given Stripe is launching a way to get paid in crypto.
@patrickc @collision lot of respect for you, but if you're trying to start a business line in the crypto industry, I don't recommend randomly de-platforming the crypto companies you serve as an appetizer to your entree. I'd suggest you fix whatever algo is currently flagging crypto companies as high risk.
For any Casa customers (or people who want to be a Casa customer) trying to pay us right now, please pay us in bitcoin. Email our team (help at team dot casa) if you need to switch your plan to be paid in BTC.
MΞIR retweeted
4 years later and defi is still by far the most interesting sector of crypto to me
Im probably one of like three people that still think that, but I still love defi
MΞIR retweeted
Extremely excited for this event. We have some great examples from @MarginalDEX using Silverback in production (which you can fork and run yourself!), as well as from @Ninjagod1251 who has made a fun @farcaster_xyz x AI demo with Silverback to show you what we're capable of!
Only a few hours away from the @MarginalDEX x ApeWorX Silverback Session!
Come join in to see how to make custom arb and liquidation bots and learn what we've been cooking:
discord.com/invite/9huCYMYf?…
MΞIR retweeted
“Where can I find real-time metrics for L2s and L3s?”
We hear you, so we built it.
Introducing rollup.wtf – real-time performance metrics for rollups
🧵👇
MΞIR retweeted
🧵10/10
As promised, the GitHub Repo with data and scripts: github.com/zcor/llama-lend-s…
Plus a more detailed writeup on the forbidden blog:
curve.substack.com/p/june-5-…
If you enjoyed, please share this thread!
MΞIR retweeted
I just staked my Hats protoDAO voting shares to claim a hat that gives me special privileges
If I misbehave, my stake will be slashed and my hat and privileges will be revoked
It's a new day in DAO governance
it's the golden age of curve data
Curve has ~ 3K daily users and daily ~18 K tx on all chains, fresh data dashboard out!
curvemonitor.com/#/platform/…
thanks to @0xAlunara and beny from @curvemonitor
MΞIR retweeted
Was fortunate enough to witness this talk (and unfortunate to present just after)
A stablecoin cambrian explosive is happening, and @reserveprotocol is at the forefront to enable it. Highly recommend reading the thread 👇
1/n
Many expect a power law for stablecoin winners.
Its more complicated than that. We're in a multi decade era of financial unbundling and a 'big bang' of stablecoins. Thousands will emerge, potentially leading to the first $1T stablecoin and several worth $10-$100B, in this decade.
Today's duopoly are 1st gen stablecoin architecture, akin to the first New York Times website being merely a PDF in 1996.
