armaniferrante
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Convert dust is live on @Backpack. You can now convert those pesky leftover token balances into dollars.
A small brick is still a brick.
š§±š§±š§±
A small brick is still a brick.
š§±š§±š§±
classic @coinbase
I really wish there was an easy way to create and redeem USDT. Circle makes it really easy to manage USDC liquidity across networks, but Tether doesnāt really provide anything as far as Iām aware.
Most DeFi debates would make more sense if we decomposed DeFi into two different categories: Autonomous Finance and Verifiable Finance.
Maybe dumb, maybe awesome centralized exchange architecture:
- l2 for the market with a centralized sequencer
- on top of a fast l1 like solana (you MUST have fast block production otherwise you have serious risk issues for closing positions and dealing with liquidations as markets move)
- keep centralized custodian (too many compliance benefits from being a qualified custodian to not do that and itās no different than usdc anyway)
- all assets traded on exchange are minted from the custodian as wrapped assets onto solana for deposits and withdrawals to/from the l2
- l2 for the market with a centralized sequencer
- on top of a fast l1 like solana (you MUST have fast block production otherwise you have serious risk issues for closing positions and dealing with liquidations as markets move)
- keep centralized custodian (too many compliance benefits from being a qualified custodian to not do that and itās no different than usdc anyway)
- all assets traded on exchange are minted from the custodian as wrapped assets onto solana for deposits and withdrawals to/from the l2
Maybe dumb, maybe awesome centralized exchange architecture:
- l2 for the market with a centralized sequencer
- on top of a fast l1 like solana (you MUST have fast block production otherwise you have serious risk issues for closing positions and dealing with liquidations as markets move)
- keep centralized custodian (too many compliance benefits from being a qualified custodian to not do that and itās no different than usdc anyway)
- all assets traded on exchange are minted from the custodian onto solana for deposits and withdrawals to/from the l2
- l2 for the market with a centralized sequencer
- on top of a fast l1 like solana (you MUST have fast block production otherwise you have serious risk issues for closing positions and dealing with liquidations as markets move)
- keep centralized custodian (too many compliance benefits from being a qualified custodian to not do that and itās no different than usdc anyway)
- all assets traded on exchange are minted from the custodian onto solana for deposits and withdrawals to/from the l2
Performant CLOBs are a commodity. Making it fast is the easiest part. The magic of Hyperliquid is not in the tech, it's in the name. Liquidity. If you don't have Chameleon, and you don't have HLP, you need something else to bootstrap.
Hyperliquid
Hyperliquid
Every cycle you see the same thing. New narratives. New people. New lemmings chasing the latest thing. If prices are up or if prices are down, have your vision. Build it.
If you free yourself from thinking beyond a single cycle, it's clear there will be a huge premium for globally distributed DeFi execution.
The horse derby comparison shows how we donāt have the language to productively discuss crypto protocols. L1, L2, etc. are meaningless jargons used by different people to mean different things. Reframe the conversation in terms of what users care about: apps, security, and risk.
just another Thursday at Coinbase
Crypto traps itself in moral arguments to disguise the lack of users. Escape by finding folks outside and bring them into the fold. People throw stones not because you're on a different chain, not because your tradeoffs--but because they think you're stealing their users.
Almost everything about exchanges, both centralized and decentralized, can be explained in plain, simple language because you can't lie about cash flow.
It should be fairly obvious the optimal market structure for Nasdaq will be different than the optimal market structure for decentralized Nasdaq.
Morning coffee:
Eliminating instant settlement would make crypto 80% more safe for everyone. It shouldn't necessarily be at the core protocol layer, but it should probably be at the application layer if we want normal people to use it.
āļø
Eliminating instant settlement would make crypto 80% more safe for everyone. It shouldn't necessarily be at the core protocol layer, but it should probably be at the application layer if we want normal people to use it.
āļø
Feels fundamentally wrong crypto wallets sign anything other than simple asset transfers.
Feels fundamentally wrong that wallets sign anything other than simple asset transfers.
You can't talk about decentralization and transparency without seeing the source code. If the source code is private, it has all the same risk as a centralized operator. There are no exceptions to this. Stop letting people gaslight you.
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