@newmichwill Did aggregators finally figure out how to include curve v2 in their routes or something
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0xdef1
2.2K posts
monad really might be the funniest “next big chain” we’ve seen in a while.
• raised $244M
• somehow needed another $187M
→ $431M for a chain that isn’t even outperforming a normal L2
then they dropped tokenomics so bad it made celestia look reasonable and tried to PR-spin it by saying locked tokens “won’t be staked” like that was ever a flex.
their “ecosystem”? a recycle bin of EVM forks and dot-fun experiments.
their team? farming bots on X and calling it “growth.”
their founders? pushing memecoins that nuke to zero on day one.
even the US-open ICO didn’t instantly fill… and that was the loudest warning sign.
after all the hype, the VC cheerleading, the gmonad cult energy… we’re sitting at $3B FDV with chart action that looks allergic to green candles.
this isn’t “next solana.”
this is zero with extra steps.
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DeFi is hard
hats off to everyone
pushing it forward
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Re projects „overraising“ in crypto:
The elephant in the room is that crypto norms create absolutely no incentive to be efficient with capital - quite the opposite.
In web2, the less money I spend, the less equity I have to sell as owner and the more I can retain for myself and the team.
In web2, everyone understands that founder-owned companies are a good thing. No one is more aligned and driven to lead a company to success. Founders being diluted too much is a common reason why investors stop giving money and companies fail.
In web3, if someone launches a token they own 75% of, the result is online rage. Instead of efficient being rewarded, it’s heavily punished.
If the market forces you to give away most tokens anyway, you might as well sell them, whether you need the money or not
Skely@123skely
I feel like these teams that raise like 100M and only need (realistically) like 3M to build the product. (maybe less) They should park the 97M into Defi, earn some yield, and pass that back to token holders while they wait for the team to buildout the project. Or like maybe off chain at the least. I mean that’s the open secret right, most these huge L1’s raise like 1 billion dollars, then they basically run a family office/hedge fund for 5 years (while they “build”) they earn like 10% on the $$, they also pay them selfs a salary, then launch and they are basically hedged. Like why not skip all the kabuki theater and just pass that on to the investors/Users? I guess there’s some rules and regs, but I think there isn’t much will to do this. Just seems silly to me.
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@ceterispar1bus Try @monorail_xyz as well. Last thing I did in crypto was monorail’s routing algo
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been messing around with kuru, legit impressed. privy wallet is nice especially as it gets around the worst possible trading flow that exists on evm chains (token approvals)
Kuru@KuruExchange
Kuru is live on Monad mainnet. Our spot trading suite lets users trade anything at the speed of Monad. We're all in: kuru.io.
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@0xGrimjow The best (only?) way to build a real community in crypto is to make people rich
Launching into the bottom of a 40% market-wide drawdown is a blessing
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monad:
> raised $430M+
> coinbase's first ICO ever
> backed by Cobie himself
> 100% EVM compatible
> Solana bullposting monad
> 10.8% initial circulating supply
> 75+ apps ready to deploy day 1
> founded by 2 ex-HFT traders from Jump
but since pre-market is going down, u bearish?
I'll be praying for your short if you ever have the courage to click the button lol.
Grimjow@Grimjows
I am once again asking: do not short or long $mon on premarket if you’re not a intra-day trader. the vol. is low, OI same, and this type of market is sentiment based. also, one thing we tend to forget, you, as a market participant, don’t decide on Monad fixed FDV at launch.
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0xdef1 retweetledi
I've again been going down the tokenization rabbit hole (including very deeply so through things MetaLeX is building) and once again need to bust these myths spread mostly by lawyers:
MetaLeX@MetaLeX_Labs
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why nobody built my idea yet?
I think even @AlchemixFi may help fund it
toast@intocryptoast
For crypto to get to the next level, we need for it to integrate IRL I always thought a neat use case would be for folk to use @AlchemixFi self repaying loans to buy goods on Amazon, so I made a little demo app of how that might look. Have a play.. alchemazon.vercel.app You paste the product link, put in how long you want a loan to run before its paid off - or input a loan amount to see how long it would take to pay off. You would then deposit the USDC and input the address you want the goods to be sent to and the service receives the crypto and orders on your behalf for a fee (not implemented on the demo) Unfortunately I think theres likely some difficulties with AML and being a money transmitter. Perhaps you integrate @CommerceCB to handle payments which then circumvents that but then you still have to deal with refunds/warranties. Maybe its worth it for someone to undertake though. I'd certainly love to buy things easily with my crypto given the opportunity.
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@intocryptoast It was extremely clever. In hindsight they overpaid for liquidity, but at that point so did everyone.
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I still think one of the most brilliant moves in crypto history was the vampire attack by sushi on uni. Such an elegant move to allow people to stake their uni lp positions for sushi rewards and then there was a migration of which those lp positions were transferred to sushi
For a while both Sushiswap and Uniswap were battling for TVL. Ultimately Uniswap won the war and deservedly so but it was a good effort by Sushi.. especially the efforts to give value to their token where UNI lacked
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@buntyverse Missed monorail (aggregator will get better prices than those dexes)
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@lex_node My list is shorter, just uniswap + aave
Nearly all protocols in defi, including tokenized hedge funds, are only attractive due to the extra yield generated by giving away equity
Then you have protocols that exist only to offer leverage with which to max extract that equity
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it's honestly hilarious, we basically had true DeFi professionalized to an insane level when you look at Uniswap, Curve, Aave, and Yearn
decentralized/autonomous, transparent, some of the smartest most cypherpunk people on the planet built these things
then everyone just says 'nah fuck that' and reverts to offchain hedgefunds disguised as stablecoins
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Idea: Does it make sense to tokenize RWAs/stocks/forex with CDPs?
USDC/USDT have arguably won over CDP stablecoins using centralized issuance because there's only one asset (USD) to tokenize and rev source is clear (treasury yield), and 1-for-1 issuance is more efficient than CDPs.
The situation is different for other assets. Take stocks for example:
- Rev source is unclear. Stocks don't usually earn yield and even with dividends stock holders expect it to be passed through.
- Holding stocks is riskier than USD. To bootstrap the supply of a tokenized stock, you'd need to buy them on the market and hold them, exposing you to volatility.
- Tokenizing many heterogeneous assets is hard. You'd need to bootstrap supply for each and potentially deal with disparate jurisdictions (e.g. if you want Chinese AI stocks)
CDPs seem like a potentially better solution.
- Rev source is interest from CDP users
- No need to bootstrap supply & hold the assets yourself, CDP users will do that for you to short the assets
- Only need a price oracle to spin up a new asset, which is much easier than dealing with red tape in multiple jurisdictions
Of course you still need liquidity for trading, but you need it anyways even if you were centralized. CDP users could stay delta neutral if the asset was also on a perp exchange, so you don't need to force people to net short the assets.
I think a lot of the speculation will happen on perp exchanges rather than spot, but it feels valuable to also have spot representations. e.g. if you just want to hold NVIDIA stocks you don't have to pay funding if you hold spot.
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@adamscochran I’ve been off Twitter for 6 months, decided to fire up the bird app and this is the first post I see in my feed.
You’re 100% right.
The replies to your tweet are why I left and won’t scroll past this one.
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Also can I say what a weird fucking hill to die on for open source software built on cryptography.
Do you not realize the insanely disproportionate amount of trans devs who contribute to open source, cryptography, security and intelligence software?
Like every cypherpunk growing up, knew of at least one trans 100x dev or hacker that was just an absolute fucking legend.
And what made these communities so awesome was the mantra was always “we don’t care who you are; we care about what you do”
So to think “innovation” especially in tech is stifled by “creating more genders” is just extra enraging because you stand on the backs of men and women who were sooooo much braver than you, to be themselves at a time when that was unaccepted, and still fucking innovated you under the table.
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Took them 9 hours to delete it.
Also all the major players in the Solana ecosystem suddenly delete their tweets promoting/supporting the ad and RT’d and liked takes about it being bad.
They approved this, supported it and celebrated it.
They rolled it back because it hurt their business, not because they thought it was wrong.
This is who they chose to be.
They showed you exactly who they are.
They don’t get to hide that and say “oops my bad”
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