David Millar-Durrant

Great points in this thread. Canton has high burn on the Global Synchronizer today, and it's also true that there's a lot of traffic going through the private synchronizers that doesn't burn $CC yet. The private subnets want to link to each other, and they'll do that over the Global Synchronizer (public layer). That interop will burn $CC. You'll see the volume of these transactions among private subnets scale up on the public rails throughout the year. The transactions will remain private, but they'll burn $CC to use the gSync as their interop / transit layer.

Six weeks before a trader lost $50M in a single swap, CoW Protocol deleted the only system that could have caught it. CoW works like an auction. When you swap tokens, "solvers" compete to find you the best price. The idea is simple - competition protects the user. But what happens when only one solver shows up? Nothing protects you. That's exactly what happened on March 12. One solver took a $50M order and routed it through a tiny pool with $30K of liquidity. The user got back $36K worth of tokens instead of ~$50M. Here's the thing. CoW had a safety system for this. It was called SolverParticipationGuard - a module that tracked solver behavior and could block bad actors. 1,500+ lines of code. They never turned it on. It sat in "log-only" mode for months. And on January 30, instead of fixing it, they deleted it. The commit was tagged [TRIVIAL]. From their own PR description: "Given the lack of demand for this functionality, it doesn't make sense to keep it." Six weeks later, a solver did exactly what this system was designed to prevent - routed a massive order through a pool with no liquidity, with no one to stop it. No competition, no oversight, no guard. This wasn't a hack. Nobody broke in. The door was removed from the inside and labeled as spring cleaning.