Floating Ratio (@floatingratio) header
Floating Ratio (@floatingratio) profile picture
Amsterdam, The Netherlands
Joined August 2008
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On-chain store robbery. Although I think in this case this isn’t a single merchant’s balance, it shows the security intricacies of accepting digital assets for merchants.
1/ Earlier this year in April 2024 a Coinbase Commerce contract saw $15.9M of suspicious outflows indicating a merchant had potentially been exploited. Shortly after a threat actor with the alias ‘Excite’ began showing off the stolen funds in chats. Let’s dive in.
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A Brief Introduction to @anvil_xyz, a DeFi Protocol for Efficient On-Chain Collateral Utilization – $anvl
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Collateral is a much-overlooked part of the core mechanisms behind traditional financial markets and services.
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Hey @ampera_xyz - next conference the Ampera Arcade powered by @FlexaHQ ?
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The better variant 🤫
Replying to @brian_armstrong
I would try to combine both approaches. Leverage the easily understandable and strong brand of USDC to promote the broader message of on-chain/cryptocurrency payments—and vice versa.
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Big moment 🚀 Flexa's world-first toolset for digital payments is now available for developers and projects to integrate spending capabilities into existing apps or design unique new payment experiences. This marks the beginning of a new era - what was long anticipated is now tangible and ready to be implemented. I'm confident this will reach the right hands in the months to come. Congrats, @FlexaHQ!
Introducing Flexa Components A suite of mobile-first tools designed to simplify direct wallet payments with digital assets. Let's dive into the details: flexa.co/newsroom
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• 20,644 code commits • 581 prototypes • 34 Congressional meetings • 27 regulatory reviews • 12 audits • 6 years in the making flexa.co
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1/ We have reached the final countdown to the @anvil_xyz mainnet launch! The contracts for governance and the ANVL token have been successfully deployed. Here’s what you need to know. ⬇️ acronym-foundation.medium.co…
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Excited about the payment use cases this partnership could enable. Although this partnership is unrelated to @FlexaHQ's business, it's another piece of the #UpdateTheSystem puzzle. Remember, merchants need a way to accept those payments/transactions – that's where @FlexaHQ fits into the payments ecosystem.
We're excited to share that @Coinbase has selected @Lightspark to bring the Lightning Network to all its customers, promising near-instant, cheaper Bitcoin transactions. Read more here: bit.ly/3xkjwAH
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Great to see the first glimpse of Flexa-enabled payments in a wallet through the long-anticipated @FlexaHQ SpendKit. Now that the release is near, I'm looking forward to seeing what new payment products and services will be built with it 🏗️🔨
Nighthawk Wallet (@NighthawkWallet) is an open-source wallet app for Zcash, enabling “private money in your pocket” and auto-shielding. 🔐 Self-custody 🔗 $ZEC on Zcash mainnet 🌐 nighthawkwallet.com The collateral pool for Nighthawk is now live: app.flexa.network/explore/ap…
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Looking back at this 2022 thread, I would say the concept of a 'Payments Network for Networks' is more relevant than ever. As we now have more networks to choose from and new Layer 2s, such as @base , are gaining massive traction, a universal standard for blockchain/crypto-based payments is needed. This standard would allow merchants' payment processors to accept payments from any network and any wallet.
The Payments Network for all Networks 🧵 – @FlexaHQ & @amptoken $amp
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A merchant shouldn't have to be concerned with choosing which chain or wallet to support, nor is it realistic to expect them to manage receiving wallet addresses from various chains, or to use separate apps or devices alongside their main POS terminals. This approach might work for small coffee shops or delis, but it's not feasible for larger retail chains, fuel stations, or self-service booths.
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It's actually these 'small details' that are the greatest challenge in making Blockchain/Web3-based solutions interoperable with the real world at scale. As @lightspark's @davidmarcus recently stated in his talk with @FlexaHQ and @InCommPayments :
for customers, it's going to be free via Coinbase for merchants, it will just be some kind of payment terminal or maybe could even be done by QR code- idk
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It always amazes me to see how far @coinbase has come since @brian_armstrong's original YC forum post in 2012, before launching the startup. Now, twelve years later, Coinbase has grown into a multi-billion dollar public company. However, the pain and opportunity identified in 2012 still remain unsolved to this date. news.ycombinator.com/item?id…
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This illustrates that the most common and everyday use cases are the hardest to crack and innovate. Payments, being an integral part of our lives and heavily guarded by regulation, tradfi enterprises and networks, and institutions (to a smaller extent by fintech), are incredibly tough to innovate at scale. xitter.cf/jnkrieger/status…
🚨Major News: @coinbase is teaming up with @CompassCoffeeDC to caffeinate Washington DC with USDC in 2024. ☕️ 📺: $COIN Chief Policy Officer @faryarshirzad breaks it down on @FoxBusiness w/ @LizClaman ⤵️
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Futureverse & The Root Network 101 (Long Read) I became familiar with the precursors of the @futureverse / @TheRootNetwork as a participant in the LPB of @altstatemachine in 2021. Since the introduction of the Root Network and Futureverse in 2022 and 2023, I've begun participating in the ecosystem. In this article/thread, I aim to provide an initial introduction to the projects, noting that for many, the myriad developments and tokens involved can lead to confusion and dismissal. I’m not going to explain every individual project and technology in detail, but I will help you with the thinking framework for a general understanding to speed up your research and introduction to the ‘Open Metaverse’. Additionally, I will share articles and posts that will help to get a deeper understanding of this project. $root $asto $sylo $xrp
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Goal and Expectation Setting Due to the origins of this project, there's ongoing confusion about why it involves so many different tokens. I encourage you to look beyond the 'this must be a grift/cash grab' critiques commonly encountered in the crypto world (not without reason in many cases). If you can't, then perhaps this project isn't for you. To truly understand it at this (early) stage, some level of participation is essential. Yes, this could represent a financial risk, as you're betting on an entire ecosystem to thrive. However, to me, that is precisely the primary rationale for making an investment: belief in the concept. Personally, I believe they are attempting to launch this in a legitimate way, but it's ambitious and can seem scattered at times. As time progresses, it all starts to make more sense, and the pieces begin to fall into place. Yet, it could still be a long journey. This project isn't suited for active trading yet. The most rewarding approach is to invest for a longer term and participate, which is generously rewarded through various incentive and reward programmes.
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Live on Nasdaq Trade Talks: @dannymccb discusses decreasing the cost of payments by decentralizing risk with @FlexaHQ Capacity $AMP
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Flexa CEO @dannymccb predicts a major brand will embrace crypto payments by 2024. Here's a look back at my 2021 thread envisioning what this future might entail: xitter.cf/floatingratio/status/1… $amp @FlexaHQ
Storytime: The Waldo Family bringing Digital Payments to the masses A 100% fictional story. @Flexahq @amptoken $amp
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I'm happy to see more clarity is on the horizon with the announcement of @anvil_xyz . Looking back, it always seemed like a complex arrangement to have $amp serve both as the collateral token for Flexa and as a governnce token for the newly launching LOC protocol (Ampera).
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Anvil will be a completely separate entity focussing on the LOC market. It will launch with a new token, fresh chart, new proposition. It will have its chance to position itself as an independent entity, without a legacy that is confusing for anyone outside of the $amp community
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Thank you to everyone who voted me into the @ampera_xyz committee! However, given my current limited engagement with the community, I think it would be fair to give my seat to someone who can be actively involved in the committee.
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Rest assured, I am fully committed to (continue) supporting @ampera_xyz and @FlexaHQ now and in the future (more on that soon).
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A visual explainer on how the @ampera_xyz ecosystem is developing.
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I have been asked a lot about my take on the recent developments around $amp, @flexahq, and @ampera_xyz. I wrote down my interpretation of what is going on.
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1/ I tried to unravel the situation and leave away all the feedback and criticism one could have on the communication strategy of the team(s) - this topic has already been addressed in abundance in the past months and even recent hours.
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