Founder @rumilabsxyz Building the rails for #DeFi on $ICP. Previously: music producer, #NFT artist, culture builder. Always: chasing the edge of what’s next.
Portland, OR
Joined January 2011
- Tweets1.3K
- Following363
- Followers1.9K
- Likes3.9K
After the Bitget hack, NEAR Intents held funds mid-swap.
The question I'd like answered: who can authorize a hold, who can release it, and how does a wrongly flagged user appeal?
Those powers should be as easy to find as the word 'permissionless'.
Agreed.
Tokenizing RWAs is simply moving existing wealth onto better rails. Which is useful, but the explosion of the onchain economy is far more compelling: open markets where people can trade or borrow against crypto directly, even when their local financial system fails them.
There’s a lot more wealth to be created there than in the modest fees a company can charge for making stocks and bonds compatible with this new economy.
People ask me every week how to make money from tokenization.
Honest answer: there's not much money in tokenization itself. There's a lot right next to it.
I go through the three ways it's happening and where the money is in each: youtube.com/watch?v=sJSDhM2V…
Holy shit, this is disturbing. She was such a lovely person, I'm going to miss her. Will pray for justice.
Rob Ripley retweeted
"NEAR did unprecedented work on chain signatures"
"unprecedented" is doing a lot of work here, threshold ECDSA, one key, sign on any chain, no bridge, shipped on internet-computer:native protocol-native, subnet-level DKG, asynchronous & byzantine-robust, with formal security proofs.
NEAR's chain signatures shipped in 2024 and it's not even onchain, but an 8-node, appointed, permissioned side MPC network.
So the "unprecedented engineering" is really "we shipped what ICP shipped protocol native, as offchain MPC."
@NEARProtocol even cites @dfinity math for their offchain MPC bolt-on.😉
Don't believe me? Check the official $NEAR docs: docs.near.org/chain-abstract…
In the "Derivation Paths: One Account, Multiple Chains" section, click the Additive Key Derivation link. It takes you to a @dfinity paper (click the PDF icon on the site).
The funny part is, put the signer contract on any another blockchain (ETH, SOL, SUI... any smart-contract one), attach the MPC bolt-on, and it'll be "unprecedented engineering" for that chain too, without needing $NEAR at all.
btw @LitProtocol already runs the same type, offchain, permissioned MPC, live on Ethereum today. 😉
How did someone like this even get this far with you? What can respectful adults do to get the same opportunity?
Genuinely curious what the custody model would be?
Spending monero requires CLSAG ring sigs and key images, and no threshold signing scheme in production can produce those (ICP's t-ecdsa/schnorr included). So it's either client-side keys or a custodial signer, which is a different thing than how the rest of your assets are held.
Happy to be wrong here, it's a problem i've dug into
Don't listen to them. The only people who should ever use Linux are the people evangelizing it. Everyone else should use a Mac.
You've been warned.
Wow, Toko is going to be very expensive for average users if revenue is expected to at least break even with such massive cycle burn.
My comment was maybe a bit too broad and unfair. It was clear that ICP Hub Egypt was well intentioned and effective.
the foundation was only ever going to offer a price that was good for the foundation. the tokens are locked four more years and none of these funds need the cash.
"nearly all declined" just means the offer was low.
I remember when I was new to the eco and thought ICP Hubs were meant to help builders.... 😂
Remember "Olympus"? It was meant to be a "global acceleration platform" but they wouldn't let anyone join, or respond to your requests.
My best read is, ICP Hubs were gatekeeping access to those resources/network in order to bully small builders into exploitative deals.
It makes no sense to me that dfinity would build ICP just to pillage it like a common scam chain. Would love to get the whole story some day.
Buying locked tokens doesn't reduce supply, it just shuffles it around. Same unlock schedule, new holder. Not a burn.
16.6b still hits in November either way
Source? I don't doubt it, but want to share with parties that won't take hearsay about the contract seriously, and I can't find any info on it specifically.
Building a stablecoin on a small chain means you can't rely on anyone else for liquidity infrastructure.
So I built a 3pool into Rumi Protocol. icUSD, ckUSDT, ckUSDC. Stablecoin swaps without depending on an external DEX to list you or fix their UI.
You build what you need when nobody else will.
$ICP