Morul
109 posts


@chris_taylor @solana DoETgX4eT9okL8Z7kNpfySw8ecvxS6LeYzTmVAZZ8Csq
Nederlands

It’s time to breathe life back to NFTs.
I’m super excited to announce that I’m finally dropping an NFT collection!
- FREE MINT on @solana
- No utility.
- No roadmap.
- Just good art and vibes.
I’ll share a preview soon but if you want whitelist, LIKE & REPLY with SOL your wallet address below 👇🏼
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@moothefarmer finally, someone isn't kissing their ass, being responsible for hundreds of millions, and not having an isolated signing device, which is ridiculous
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/start_rant
I’ve spent the last 4 years obsessing over one thing:
--> Trust <--
Not marketing. Not TVL. Not hype.
--> Trust <--
We designed Elemental’s architecture from the ground up with paranoia. Tight opsec. Conservative security assumptions. Even down to personal decisions, I’ve EVEN avoided unnecessary moderately "risky" activities (bungee jumping, skydiving, etc) because key-man risk is real in this space.
That’s the level of discipline required. That's the level of sacrifice needed.
And yet, none of that mattered when @DriftProtocol
went down.
Let’s be clear. This wasn’t just “a sophisticated DPRK attack”.
That’s the EASY narrative.
The raw truth is this: Basic security UTTERLY, ROYALY, DISGUSTINGLY, failed.
A 2/5 multisig + signing devices freely downloading external apps?
For a protocol managing hundreds of millions, that’s pure negligence. As your protocol grows, your security standards must scale faster than your TVL.
Drift didn’t.
The result?
Countless users lost huge swaths of money. A number lost life savings.
Many projects got hit and I know a handful probably will not survive this.
Even seemingly unrelated protocols took damage:
@kamino 's Sentora vault alone saw ~$220m exit in a flash. @JupiterExchange 's JLP dropped ~$160m.
And the worst part?
I’ve had countless users tell me they’re leaving DeFi entirely. Not just @solana DeFi. They're exiting DeFi entirely and going to put their money back in banks.
That's insanity. We literally spent all of our effort trying to build a better future of finance, and then Drift bombed us back to the stone age.
And I don’t even blame these users. Trust, once broken, is almost impossible to regain.
Leadership matters most in moments like this. Mistakes happen. They always will. I’ll likely mess up somewhere, someday too. I am, after all, human.
But silence? Deflection? Delegating responsibility instead of owning it?
That’s a complete bankruptcy of character.
@cindyleowtt has said almost nothing aside from: "Today has been an extraordinarily difficult day for Drift. I’m incredibly grateful for the outpouring of support from the community."
No apology. No remorse. No accountability.
@davijlu is even worse. Zero posts.
They pushed everything onto their BD staff, Tracy, to handle communications.
I’ve only heard from Tracy. Nothing from David. Nothing from Cindy. In fact, nothing from anyone in Drift’s leadership.
This is a live masterclass in gross management failure. Utter incompetence.
Realistically, given how DeFi operates and how most teams are structured, it’s unlikely there will be any meaningful legal recourse for users.
I’m not a lawyer, so I could be wrong. But I do hope karma comes at them, full force.
/end_rant
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@barrett_io I wish you and your team the worst, this piece of shit shouldn't have existed in the first place
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Ranger Finance is winding down and I will be moving on. People who worked with us, built with us, and trusted us are not being made whole, and I want to be direct about what happened.
Ranger took on more than it could sustain. As cash ran low, the founders put in as much personal capital that could be beared to keep the lights on while we worked toward a raise on MetaDAO.
The raise was delayed, bills accumulated, and some of the team stayed on knowing they wouldn't be paid until capital came in. When the raise closed, we had two months of runway before the funds were returned. We used that window to pay people and vendors as equitably as we could, but it wasn't enough to cover everything.
The liquidation of treasury was unanticipated and deeply impacted the budgeting decisions made for employees, vendors and growth.
Then the Drift exploit hit hard, and it took out remaining momentum and personal capital to keep things moving.
In hindsight, Ranger should have shut the doors earlier. When you're inside it and you can see a path, it's hard to make that call, that's not a defense, just personal honesty about wanting to make things work as a cofounder. The outcome is that people went unpaid.
Vault users affected by the Drift exploit will receive Drift recovery tokens when the Drift team disperses them.
To everyone who worked on Ranger and let us delay payment: I'm sorry. This isn't the ending any of us wanted.
@ranger_finance will tweet more on the wind down process
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gmonad!💜
I'm reserving both
hasbulla.mon and hasbulla.chog
on @monad_xyz using @AllDomains_
Reserve your domain on⬇️
monad.alldomains.id
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Time has come! Here is my RUGS•TO•RICHES art submission! We never know what way leads us to the top, best way is just trying! @RugsBTC @OrdinalRugs #RugsToRiches

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Big day for FroggoDAO! IN total our members secured more than 25000 @unisat pizza tokens costing more than 100000$! LFG! I guess it's time for the real pizza.

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Join the global Onmi® community with me. The game is ON and the rewards are REAL 💸
@onmi_ar
#cryptogames #playtoearn #mobilegame #airdrop #onmiapp
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The Road To Genesis Private BETA is finally here with 15,000 USD worth of $OXYZ token to be earned in-game 🎮
🗓️ 15.03.2024
Secure your Citizen Pass for exclusive access: premint.xyz/oxya-origin-ro…
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L.Lawliet 💢@Lfuckjpg
1/7 This is a new paradigm that can be called the "4th Industrial Revolution" in Web3 gaming. This model is defined as #Gaming33 = #G_G G=Game, G=Growth ❌ Traditional: Lack of ecological mechanism, disconnect between community, game devs, and gaming chain. Lead to a lack of synergy, resulting in ineffective token utility. @Tabichain brings: ✅ Community-driven ✅ Provide incentives without impacting game economies ✅ Positive externality ✅ Enhance token utility ✅ Solid moat 🧵👇
QHT







