Fermi Labs

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Fermi Labs

Fermi Labs

@FermiLabs

Bulding the infrastructure layer for on-chain capital markets. Building @FermiTrade and @ContinuumChain https://t.co/s5nzgXxxIg

Singapore انضم Şubat 2023
18 يتبع964 المتابعون
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Fermi Trade
Fermi Trade@FermiTrade·
Fermi Trade v1 is here. Fully onchain execution. Guaranteed FIFO transaction ordering. Tradfi grade microstructure. <2ms optimistic finality. It’s all possible. Invite-only Mainnet rolling out this week.
Fermi Labs@FermiLabs

x.com/i/article/2049…

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Continuum
Continuum@ContinuumChain·
If your transaction came in 100 microseconds before someone else, continuum will order you accordingly. The only blockchain with this guarantee.
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Fermi Labs
Fermi Labs@FermiLabs·
9/10 of the top Perps DEXes today rely on a trusted, centralised sequencer. Is this really the future of France?
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Fermi Labs
Fermi Labs@FermiLabs·
@toly the aliens are waiting for us to build onchain nasdaq before revealing themselves
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toly 🇺🇸
toly 🇺🇸@toly·
Now explain the fermi paradox
toly 🇺🇸 tweet media
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Fermi Labs
Fermi Labs@FermiLabs·
@toly All this reflects is increased retail participation in equities, on platforms like robinhood which use PFOF. it's not a defence of FBA in any way. Here's the graph showing increase in retail paticipation over the same timeline:
Fermi Labs tweet media
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Fermi Labs
Fermi Labs@FermiLabs·
That’s an odd definition of “true fifo” Most serious actors based elsewhere (say Tokyo), would prefer to transmit their desire to trade via private fibre, then sign and submit a tx from a collocated node in nyc next to the nasdaq server. There is no faster way for a Tokyo based signal to travel to nyc. If the signal itself arises in NY, the placement of the trader is immaterial- they probably have an edge node in NYC designed to react to the information and place a trade without human involvement. The edge case of human in the loop + caring about +-100ms inclusion in a fifo queue rarely if ever happens imo. And the tradeoffs of slower state updates seem like a price discovery killer
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toly 🇺🇸
toly 🇺🇸@toly·
@moonshiesty It is not pure fifo. If i sign a tx at time T locally in location X, and nasdaq is in nyc someone who signs in nyc at T+t will be scheduled ahead of me.
toly 🇺🇸@toly

There is no true “fifo”. True fifo would be each user gets a perfect timestamp as soon as they sign their tx and txs cannot be dropped and are executed in timestamp order. All the deviations from this introduce some exploit vector. Mcp + fba is actually a closer approximation to true fair FIFO then what people call fifo.

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toly 🇺🇸
toly 🇺🇸@toly·
Long term, Jito’s, or any fair market scheduler’s revenue is hurt more by adversarial nodes than by fair competitors. If these nodes are scheduled at the same time vs in sequence: 1) default and hides all info 2) Jito with rebates to wallets 3) adversarial node Jito makes more when 3 is starved, not when some users like ellipsis or drift send an oracle update to 1. Because if 3 cannot be starved the amount of risk and effective volume onchain will be capped.
moon shiesty@moonshiesty

MCP would eliminate the @jito_sol @harmonic_gg business models: BAM and open block building are incompatible with MCP is this a good or bad result? discuss

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Fermi Labs
Fermi Labs@FermiLabs·
Continuum will be the base layer powering @FermiTrade, the first perps DEX offering FIFO ordering guarantees.
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Fermi Labs@FermiLabs·
Introducing @ContinuumChain - the first blockchain with fair ordering guarantees at microsecond resolution.
Fermi Labs tweet media
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0xSeldon | Fermi
0xSeldon | Fermi@yettisheep4·
>To have price discovery on a CLOB you must have FIFO: yes, absolutely. A key point that many miss. >but FIFO is incompatible with permissionless sequencing: no? It is indeed possible to enforce FIFO at millisecond (ms) resolution and make any exclusion or re-ordering detectable, even in an untrusted sequencer model.
Armani Ferrante@armaniferrante

Consider the following. To have price discovery on a CLOB you must have FIFO, but FIFO is incompatible with permissionless sequencing. Therefore you can’t have price discovery on a permissionless CLOB. You can have extremely liquid markets. But not price discovery.

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Fermi Labs
Fermi Labs@FermiLabs·
MEV will persist as long as block builders retain the privilege to decide ordering & inclusion within a block. A question that's not asked often enough: is it possible to cryptographically enforce strict FIFO ordering & inclusion at ms resolution? If so, that would finally give us feature-parity with tradfi.
Hasu⚡️🤖@hasufl

Thesis Drop: MEV has become the dominant limit to scaling blockchains. Our data reveals that the dominant paradigm of MEV extraction has moved to on-chain searching, and is starting to consume most of the capacity of most high throughput blockchains. 🧵 👇

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Equilibrium
Equilibrium@equilibrium_co·
3/ 🔍 Highlight of the Week: Onchain trading has developed from fixed AMMs to customized AMMs and order books. Now, e.g., @eulerfinance & @FermiLabs are pushing capital efficiency beyond existing limits. Open questions remain on blockchain scaling & ordering guarantees.
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اكتشف

@toly @moonshiesty @FermiTrade @ContinuumChain @eulerfinance @elonmusk @BarackObama @taylorswift13