Jacob Phillips

I think this is a new DeFi First? $500mn+ asset acquisition Here's the gist of it: BTC onchain is broken. Users want the real thing — not branded wrappers, high mint/redeem fees, and gated access. At best, your current BTC wrapper is a 3rd or 4th priority for the team operating it. Users, Developers, and Bitcoin deserve better. Lombard + BTC.b will make BTC in DeFi better than BTC on CEXs. You'll be using Bitcoin onchain & you won't even know it. The Gameplan: - Direct integration to apps (Branded as "BTC") - Permissionless (and free) mint/redeem - Full suite of developer tools to craft the perfect UX - Accessible to all major ecosystems with unified liquidity - Institutional-grade security (backed by OKX, Kraken, DCG, Galaxy, etc...) Partnering with Avalanche was the perfect launchpad for this shared vision. BTC.b: - $500mn+ TVL (with no incentives) - Trusted by @aave @GMX_IO and all other major apps on AVAX - Led by a team leading the charge in institutional crypto BTC.b will become the foundation of our proliferation of BTC onchain.  A credibly neutral, multichain Bitcoin primitive — built to look, feel, and act exactly like the underlying BTC, but with enhanced access & capabilities. BTC will come onchain & never go back. Coming to @ethereum @solana @HyperliquidX @megaeth @monad and many more very soon.

@sunandr_ How do you define vault?

I am all for bulling up vaults but this is not a vault. It is a tokenized money market fund. Still really impressive that JPM is building all of this inhouse but let's not get sloppy

Tons of stablecoins launched with Bridge (@Stablecoin) — Now Bridge has their own (and a long list of partners). Reminds me of Global Dollar Network (USDG), though a few of @global_dollar's flagship partners also partnered with @openstandard (Anchorage, OKX, Galaxy).

So much confusion here could have been avoided by noting this was an equity deal. Very interesting assuming this deal comes with strategic benefits. @krakenfx has been making big moves in the onchain space.

Live with @alexeiZamyatin!

Please report within immunefi. This is our primary platform for triaging. And @immunefi holds us accountable. There is a fee for spam prevention, but we will refund this back to the submitter for any legitimate effort (i.e. as long as it's not clearly AI slop) We will generally just point people who submit via email to immunefi. Email can be used for urgent situations.

@JacobPPhillips @Lombard_Finance i have found some valid concerns I would like to report, is it fine if I report outside of immunefi? i.e an email based submission

UPDATE: No vulnerability. (Confirmed by @Lombard_Finance team) We welcome (and will reward) all good faith bug reports — but it is poor form to tweet about a potential bug before submitting it to the team. This tweet was live for ~13 hours before a report was shared, which was quickly cleared as not a vulnerability by the Lombard team. If you think you’ve found a bug, these are your best resources: - @immunefi Bug Bounty program (best place) - Get in touch with any verified Lombard team member - Email us (security@lombard.finance or support@lombard.finance) Our docs page is another great resource: docs.lombard.finance

@kumo_eth @Lombard_Finance Fair callouts. We’re going to reduce the Lombard tag to just core team members + are in the process of discontinuing discord.

@JacobPPhillips @Lombard_Finance I tried reaching Lombard team privately for over a week (DMs to multiple verified members with no response. When dozens of fake "Lombard Support" accounts started flooding my Dm I posted to expose the imposters, and finally get the team's attention. This was done in good faith

POV: I discovered a critical vulnerability in a protocol with + $800 million TVL at risk, scammers desperately trying to front-run 🤣

@kumo_eth @Lombard_Finance Flagging our bug bounty program as well. immunefi.com/bug-bounty/lom…

@kumo_eth @Lombard_Finance We received a report from @kumo_eth about an hour ago and have confirmed there is/was no vulnerability.

@kumo_eth @KibrahimD70212 @Lombard_Finance .@kumo_eth we've confirmed with @immunefi that there are no open reports + no submissions by an account with "Fibonacci" Have had a couple team members reach out to you via dm, with no response. Please dm me if there is something to report.

@KibrahimD70212 @Lombard_Finance Nah this time around not to the team submitted on immunefi

@GeorgePBeall @ModusAudit Congrats sir

After a fun run within the crypto space over the last 6-7 years (6️⃣7️⃣) it’s time for a change. I recently joined @ModusAudit as their first GTM Engineer to help build the future of AI-native services. Modus is here to replace the Big 4 accounting firms with a higher quality service experience. And has raised $85M in funding from @lightspeedvp between a Seed and Series A. As I spoke with the Modus founders I was struck with their clarity of vision. @Arushj01 @vinaykasat_ and @PranavAPillai are trailblazers in the AI-native services space. Team Modus’s team brings talent from Palantir, Ramp, Amazon, Citadel, Thoma Bravo, Gauntlet, and more. Product They acquired a Top 200 CPA firm, have begun rolling out agentic infrastructure to over 150+ employees at this firm, and are profitable (perhaps a foreign concept to CT). What’s Next If you’re interested to learn more about GTM engineering and AI-native services follow along. I will likely post less about crypto these days. And if you’re interested in getting into the AI industry, Modus is hiring across the board! My DM’s are open

One of the best underdog/contrarian stories in crypto. Act 1: Morpho Optimizer —> A cool hack but can they actually build a real protocol? They then built one of the first TRUE "Primitives" in crypto (meaning a protocol acting as a building block for businesses on top) Act 2: Morpho Blue —> Okay a real protocol but what about growth & distribution? They then onboarded some of the biggest Institutions & fintechs in crypto and invented a whole new category of businesses (curators). And without anything real flashy per se... just a (relatively) slow, unsexy, multi-year grind to Product-market fit. Act 3... Morpho Midnight Congrats to the @Morpho team!

Hopefully this doesn't come off as bearish ZK. Incredible technology, just takes time to harden. AI will almost certainly be an accelerant for ZK, making auditing these codebases a far more manageable task.

A core reason very few ZK Rollups are trustless today. Extreme complexity that no one is willing to bet is 100% secure.

@AdriansCryptoo Doesn’t have to be maxi. Just someone betting on btc price growth over long-term.

@JacobPPhillips So STRC is better for Bitcoin maxis then?

STRC isn’t great as a USD yield product right now —> exposed to some Bitcoin risks, without Bitcoin upside. STRC as a Bitcoin yield product however…. 👀

10bps of America is at this sporting event today in the middle of Indiana.

There's virtually no white space left for differentiation... so it's a gladiator arena

I wouldn't wish competing in the DeFi perps space upon my worst enemy. You compete directly for trader attention with: -> CEXs -> Perp DEXs -> Memecoins & Prediction markets -> A sea of startups all trying to incrementally improve your product