denett (@denett_eth) profile picture
Joined September 2022
Ah yes, excellent points. We shouldn't worry about AI risk, because remember, your ancestors were ravaged by tiger attacks, bubonic plague, smallpox, famine, earthquakes, and the Nazis. Thankfully there was always someone with a name like BoneGPT to stand up in the back and shout "STOP WORRYING ABOUT IT, ACCELERATE," and that's why we're here today. It definitely wasn't because people banded together and SOLVED these problems by inventing vaccines, building sewers, forming alliances, and studying the earth. You're naming problems that humankind has worked desperately over millennia to solve, as though it's evidence that problems just solve themselves. For none of these things did we say FUCK IT, IT'LL PROBABLY BE FINE IF WE DO LITERALLY NOTHING. It's the opposite: these are all stories about generations who fought valiantly to eliminate risks so that we, their successors, could live without them. It's on us now to do the same. There WERE people at the time who for each of these things said, fuck it, God will save us. Those people are not our ancestors. Our ancestors were the ones who got their shit together, solved these problems, and survived. AI doesn't became safe on its own. We have to actually SOLVE safety and learn how to control these things. And we will. It took enormous work to make sure planes don't fall out of the sky, or that space shuttles don't spontaneously combust, but we got there. But we have to actually do it. We don't get to just talk about it. We are going to willingly give control of almost all of the levers of society to AIs pretty soon. So we better be absolutely fucking sure that when we do, we're still in charge.
"People aren't ready, this is gonna change everything" You know what people weren't ready for? Fucking mammoths. Tigers eating them. Monkeys ripping their arms off. The black plague. The ice age. Smallpox. Vikings pulling up on the beach. Drinking water that gives you diarrhea until you die. Getting a scratch and losing your whole leg. The Mongols. The Spanish Inquisition. One volcano can send us back to the dark ages and these safety guys are gonna be shocked. Oh the robots didn't kill us? It was a volcano? Imagine their disappointment as the hot ash rains down on them. A solar flare is gonna explode your phone in your pocket your legs are gonna be covered in battery acid and your bank account will stop working. You're afraid of a computer program doing math? "Things are moving too fast" homie you live on a rock that periodically deletes everything. You are one the most luckiest entities in a 100 light year radius living during a golden era. Cheer up. My ancestors crossed an ocean in a wooden box because they ran out of fucking potatoes. "The social disruption will be enormous!" Nigga World War 2? World War 2? Hop in the people carrier we're landing on the beach. Are these people out of their fucking minds? Do they not know what we've survived already? A couple decades of air conditioning and people suddenly think oh this is the natural condition of mankind. No. We used to have eight kids because seven didn't make it. You're gonna be fine. Man the fuck up. Accelerate.
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A story as old as time. People want more money fast, and is willing to increase their risk to get it. And like before, many blow up and get liquidated. What if I told you about a solution from Frax that is free from liquidation risk? Meet the infamous BAMM. The Borrow AMM.
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1/ Since a lot of people are waking up to see their perps positions closed and wondering what the hell “Auto-Deleveraging” means, here’s a quick and dirty primer. What is ADL? How does it work? And why does it exist?
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1/ Stablecoins just went mainstream – and Frax is at the center of it. Here’s what happened at the world’s largest crypto conference, and why policymakers are backing the future of digital dollars 🧵
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1/ The @fraxfinance team just launched the Borrow AMM (the BAMM) Just another forked lending market? Nope. There’s way more going on here than most realize. The BAMM allows borrowing, but doesn't liquidate borrowers based on price changes. How does that even make sense? 🧵
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1/ BAMM💥 To have a DeFi renaissance, you need DeFi innnovation. Introducing the Borrow Automated Market Maker (BAMM), a novel DeFi primitive that will change token borrowing & swapping forever. Access leverage for any token, without oracles or permission. Here's how it works👇
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Llama Party feat. Drake Evans of Agora Dollar xitter.cf/i/broadcasts/1YpKklRQk…
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It’s time for the Fraxtal launch thread! The most important & consequential release since the dawn of Frax itself in 2020. Fraxtal testnet & mainnet are here for select launch partners! Frax.com will be the hub of Fraxtal documentation, L2 bridge UI, & other resources starting today, February 7th. Normal users will be able to connect to the chain in the next few days.
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Lot of talk about fraxlend today, some of it incorrect. Since Fraxlend is my baby, lets dig into this pool to talk about why I think things are not as bad as they seem & some of the unique features of Fraxlend that protect lenders (+ some alpha for liquidators)
1/3 To try and save his Fraxlend position, Mich is borrowing even more against his Aave position and depositing more CRV as collatera... suggesting he doesn't have the stables for it. And Fraxlend utilization still sits at 100%, so it will 2x its APY every 4 hours...
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denett retweeted
¤ Frax Finance has been crushing it lately🔮 And with their growing ecosystem of DeFi products, $FXS has a TON of upside in 2023. Here are 5 reasons why @fraxfinance will be a central player in DeFi this year and how you should be taking advantage of this 🧵 1/19
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The acid test for any two competing socioeconomic systems is which side needs to build a wall to keep people from escaping? That’s the bad one!
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1/ @fraxfinance’s staked $ETH performance has been nothing short of spectacular in the past 30 days. ~500% TVL growth. 9.3% APR (vs 3% on @LidoFinance). All this during one of the worst months in crypto history. Here’s how they did it. #FraxFinance #LiquidStaking #Ethereum
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1/6: 4.8-17.3% for staking your ETH with @fraxfinance ain't bad. Three options: - Liquid staking directly with Frax - Curve/Convex LPing/Boosting - Concentrator Automating 👇 Let's explore each option.
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There is only ONE best way to keep your crypto safe: SELF-CUSTODY. Not crypto exchanges, not yield platforms, not FTX, not Celsius. Today, I'll teach you what self-custody means, how to do it, and why it's so important: A CRYPTO SECURITY AND SELF-CUSTODY MEGATHREAD:
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denett retweeted
(1/📿)Hey all: I've a few announcements to make Brahma.fi has come to an agreement on a strategic transaction with the Ethereum blockchain to deploy the TopGear vault contracts Deposits now open: degenv2.brahma.fi/vault/topg… @cz_binance All ya need to know for thy DD⬇️
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Today we welcome @drakeevans and @denett_eth from @fraxfinance to our fireside to talk about our partnership proposal. This is going to be a good one! We kick off at Noon UTC 👉 Join our Discord and get involved - discord.com/invite/alchemix
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(1/18) Cryptography Basics: Polynomial Encoding Humans think in words and ideas, machines think in numbers and math; the translation of words into numbers is core to basic computing. Want to learn about the powers we have in this process? Let's start with Lagrange Polynomials.
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Hungry for some juicy yields? Prepare to try our secret blend of composable leverage and high APY #DeFi Strategies only with YFC: Yearn, Frax and Curve on Gearbox ⚙️🧰 Get the alpha on our $FRAX asset addition: link.medium.com/ewCBJGdYGtb. Going live in... less than a month 🍗
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