Lesha Karanyuk

@Iv4n_Ko Ivan, wish you all the best! Truly believe in your highest professional standards

Sharing a bit broader highlight of the Resolv security incident

"everything is market"

can't believe I read this for free

@gemchange_ltd thanks a lot for this genius content!

@mansourtarek_ given most of the hedge money is made on thin markets with high margin, imagine how big is the share of this margins to be squeezed by PMs

On sports hedging. The sports insurance and re-insurance industry is big: the annual market is around $9 billion and is projected to double by 2030. There are a variety of insurance products including brand sponsorships, game cancellations, team/player performance, off player compensation, and more. We just announced a partnership with sports insurance broker Game Point Capital. Game point capital issues hundreds of millions in sports insurance per year. Their most popular product is team and player performance bonus insurance: sports teams often structure large payouts to coaches and players that get triggered if they achieve certain milestones (winning championship, making the playoffs, scoring records, etc.). The bill is often large and teams smooth out their finances by hedging it. Game Point hedged for two different teams against performance bonuses on basketball with Kalshi last week: 1. One is a hedge for a bonus if the team makes the post-season (Kalshi price=6%, OTC price ~ 12-13%) 2. One is a hedge for a bonus if the team advances to the second round (price= 2%, OTC price ~7-8%). Why did they do this on Kalshi? Insurers like Game Point need to offload the risk they take on somewhere else. Typically, they go to traditional re-insurance companies like Lloyd's of London, which is Over-the-counter (OTC): you negotiate price and terms 1:1 with them (instead of an open/competitive market). Like in all OTC markets, the issue is the re-insurers are restrictive in what risks they take: they like to avoid volatile, higher risk contracts, so they offer prices that are opaque and prohibitively high. Exchanges are a better alternative because they expand liquidity and bring competition: multiple counterparties compete in an open marketplace to improve the price. Exchanges are harder to build than OTC because they need to have enough liquidity. Over the past year, we’ve massively increased the liquidity on our sports markets. During the Super Bowl, Kalshi could have processed a $22 million trade without moving the price meaningfully. At this level of liquidity, Kalshi is now very attractive for Game Point and other similar companies: there’s more liquidity available, it's cheaper, and the price is more transparent. We expect to process tens of millions in similar hedges from Game Point alone in the coming months. Onwards.

@tanz0rz @1inchdevs yep, also saw the down. looking forward!

@Karanyuk @1inchdevs X.com was down up until about 16:05 UTC today, so it was canceled instead of doing a late start due to the risk of it going down again (or Spaces not being up yet). The team will post an update soon about the rescheduled time (sometime next week).

The next era of DeFi will be built on shared liquidity. Don’t get left behind. This Friday, we’re hosting an X Space for devs on 1inch Aqua, featuring a Q&A with 1inch DevRel @Tanz0rz and more of the team. 📦 What’s in the protocol 💡Why we created it ⚙️ How to build on it Just follow @1inchdevs and join us at 16:00 UTC (17:00 CET) this Friday 16 January. x.com/i/spaces/1ypkk…

@yielddev Found it myself. Am I right that you used dynamic pAMM of Paradigm?

@yielddev can I see anywhere your prediction AMMs for Aqua?

Solves earning yield while making prediction markets, btw

@yielddev Found it myself. Am I right that you used dynamic pAMM of Paradigm? paradigm.xyz/2024/11/pm-amm

How do you explain tokenomics without losing users in the math? Pendle built an academy for this, but other projects—like old-school casinos or unsecured lending platforms—struggle with even simple formulas. We need better visuals and simpler explanations.

(8) Sunset Picture this: an old-school crypto OG, dusty hat on, stares into the sunset, spurs his horse, and says, "I was first!" Nostalgia kicks like a mule.

(7) AI is everywhere Eventually, traffic hustlers swoop in, pitching get-rich-quick AI bot schemes to newbies. The ecosystem grows up fast—wild how it shifts from vision to grind!

(1) I was first! Mining’s all about being first—investing compute power for scarce crypto. It’s like snagging a top-tier username or gold rush pioneers hitting untouched claims. Remember notpixel selling first screen pixels? Classic move!

(7) Why is this important? 1. There is an opportunity to earn additional yield on your USDC through lending protocols. 2. Liquidity can be "rented" exactly for the duration of the swap, rather than holding a ton of USDC on balance. 3. Protection against impermanent loss (IL) is simplified, which means fewer tokens need to be allocated to farming. 4. Super-custom settings allow strong players from traditional finance (TradFi) to enter this market and create configurations they have long been accustomed to.

(5) Customability Super-customizable settings in @uniswap v4, where you can even pull the pool's price from an oracle and use the pool purely as a token storage, or set dynamic fees based on token volatility. Finally, through Hooks, you can implement a full-fledged order book directly in the pool, which builds on the concept of placing a position in a single tick, as seen in v3.

(1) Is AMM the new narrative? I’m looking at AMM, and, you know, I’m starting to really like the situation. There are purely speculative points, let’s break them down: 1. In May, DeFi was the fastest-growing market by capitalization: (public.bnbstatic.com/static/files/r… 2. DEXes in 2025 are processing record-breaking volumes in history: defillama.com/?dexs=true), with twice the volume compared to 2022. 3. There are news headlines claiming that DEXes reached a 25% share. I manually checked on CoinGecko – got 19.7% over 24 hours, so a quarter is quite plausible: docs.google.com/spreadsheets/d…