MrMochi

The best trade ideas don't belong to the people with the best engineers. They belong to the people with the best strategy. This is what it looks like when the tooling finally catches up to that fact.

When you were co-locating, I studied frequent batch auctions. When you were laying cable through mountains for three milliseconds of edge, I mastered the auction. While you wasted your capital in pursuit of nanoseconds, I cultivated genuine alpha. And now that the market is becoming synchronous and your latency is useless, you have the audacity to come to me for help.

Slow adoption isn't a mystery. Major exchanges earn more from selling co-location and payment for order flow than from trading fees. The exchanges profit from the problem. The incentives are misaligned. It's something we can and should fix.

@bwein_ @therollupco @hotpot_dao @HyperliquidX Yeah true... but what if 50.000 TPS solves all of our worries tho

was catching up on @therollupco and was quite surprised to hear @hotpot_dao talk about "proximity market" ie colocation defi will never outcompete tradfi by recreating the same game, but make it verifiable this is why @HyperliquidX new priority fee is also kiss of death over medium term defi needs to make products that are fundamentally better because they are on-chain. verifiability doesn't count. privacy doesn't count.

@AftermathFi I'm sorry to hear. Good luck.

We have been exploited.

@brendan_ Interested to know more about what you feel it lacks compared to Claude Code.

Love GPT 5.5, but Codex is far behind on features.

@The3D_ Thank you for your help Emilio. I respect your decision a lot.

I am committing 500 ETH to the Defi united recovery fund. This represents a large part of my crypto holdings, but there are things that are more important than money - Like Stani, I have been working on Aave since the beginning and the only thing I care about is to see it succeed. There are no defeats in life, only lessons. We will be coming back stronger. Aave will win.

@atahanyild @LadesSandy @scottmelker I'm fairly certain my negative upnl would've turned positive if you didn't liquidate me that soon! At some point in time.

@LadesSandy @scottmelker when u have infinite money of other people u eventually hit the right one lol

Stop praising SBF for his investments. He invested with stolen funds in every deal that came across his desk. Zero risk, playing with stolen money and an endless piggy bank to steal more. Zero skill, just fraud. x.com/i/status/20473…

@bwein_ There's probably already been a lot of bribing through predictions and crypto in the last few months. It's going to be an interesting challenge on making sure being honest is the biggest incentive while maintaining a competitive angle.

this is one of the most interesting enforcement stories in crypto in a long time. the govt has incredibly strong motivation to discourage leaks via prediction markets. if this is kosher, only a matter of time before state secrets get bribed via prediction markets

@StaniKulechov Thank you for your contribution. 🙏

Aave is my life's work and we're working nonstop to find the best possible outcome for users. I’m personally contributing 5000 ETH to DeFi United as we continue working together with partners on formalizing more commitments. I’m working to see this resolved and market conditions normalized as soon as possible. DeFi United.

@ether_fi_Fdn 🫡 thank you gentlemen

The EtherFi Foundation is proposing to contribute 5k ETH to the rsETH dedicated relief vehicle. This vehicle will protect users and prevent bad debt across DeFi. More details in the proposal: snapshot.org/#/s:etherfi-da…

I really appreciate you taking the time to answer! Thank you. I wish I could have a listen to your talk, so if it is available somewhere that'd be great. Always interested to learn more or read more papers. Look forward to hearing your thoughts on exactly what you highlighted. Take your time, no rush.

Sure. I will give you my thoughts on the subject a little later on. I am pretty busy today. I gave a talk at @AptosLabs in the past about market making, and since that time, I have been working on quant modeling. I am not trying to do low latency like @wintermute_t et al. but I've read some of the relevant literature and I am definitely not impressed with how Budish goes about things. Citadel has put out counterarguments, but they are more in the vein of marketing notes. I think they care mostly about the market share and not so much about receiving research credit. So even though neither side has made a compelling research case one has to keep in mind that the fraction of discrete time venues is quite low in tradfi. So the question you are asking is why crypto should work the same way? I will get back to that later but again simply saying FBA or DFBA is not enough

As is his custom @toly obscures what is already misleading. Two simple points for the braniacs out there: 1) if Budish is modeling this correctly, then what is the optimal batch auction delay in his view 2) if batch auctions remove the need for latency... x.com/toly/status/20…

Curious to hear your take on why you feel low latency is here to stay? I think there's a lot of reasons why this hasn't worked as of yet in tradfi. I don't think the argument is that 'discrete time is better because tradfi tried it.' I think it's that crypto has a new ingredient: cryptographic privacy. We're trying blind batch auctions where nobody can see your order before it clears which are fundamentally different animal. Tradfi never had that which means that the user intent is still visible to participants. But would love to hear your thoughts on the subject. Sort of unrelated to the Solana take in my opinion though. I think I agree on that front but would have to read more.

what crypto folks don't seem to get is that the same arguments have taken place in tradfi and after many years there is still no real push to adopt the discrete time trading framework and for good reason so not only they are reinventing the wheel but they are thinking square is better than round low latency is here to stay

@brendan_ Saving you the wait: it's 42.

Cookin

@SynchronicityHQ I'm in this batch.

We just admitted our first set of traders off the waitlist after yesterday's announcement. If you have been admitted you should have received an email. Going live now: a 7-day competition on our blind frequent batch auction order book. 1000 USDC in prizes. Build winning strategies and get paid. Comment below for access.

Come and join our paper trading competition for real prizes! We're testing stress Frequent Batch Auctions to enable lower spreads for all.

@aaronjmars Relying on a singular oracle for your data. 🥲

holy fuck, a hair dryer at a Paris airport broke Polymarket weather markets & made someone $34,000 richer - polymarket was settling Paris temperature bets on a single Météo France sensor sitting near the Charles de Gaulle runway perimeter - basically unguarded - the guy bought the long-shot outcome (like "22°C" when everyone expected 18°C) for pennies, since nobody thought it'd hit - then he walked up to the probe and briefly heated the air around it with a portable heat source, spiking the reading just long enough to register as the daily max - temperature snapped back to normal in minutes, the market resolved in his favor, and he cashed out - twice, on April 6 and April 15, before Météo France caught on and filed charges hyperstitions.

Blind Frequent Vibe Auctions

@bwein_ I love the fact that the extraction Budish is discussing is moving to center stage. What’s been happening behind the scenes, within the blink of an eye, is a net negative for markets and users.

the strategy builder is meant to harness the power of your imagination. it has been awesome to see so much reaction since we came out of stealth mode yesterday. my apologies if i haven't responded to you yet. wanted to respond to three repeated questions we’ve received: how does clearing work? @SynchronicityHQ uses a frequent batch auction mechanism first proposed by Eric Budish in 2015 which eliminates the vast majority of the negative effects of latency arbitrage. incredibly, on the same day we launched @toly was posting about FBA. What synchronicity! We are firm believers in the game theory of FBA to make markets more efficient and are excited to put it out into the wild. looking forward to participating in more discussion about on-chain market microstructure. what data can be used by the strategy builder? the strategy builder is set up to be highly generalized with respect to oracle data so our users can be in sync with everything. we have market data set up already and will be expanding the types of data supported to social media data, world news and other data. PLEASE let us know what data you would most like to be able to trade off of. we will prioritize new data based on demand. what is the craziest data you would want to build a trading strategy off of? how are orders and strategies kept private? we at Synchronicity hold strong conviction that privacy radically improves market efficiency. effectively implementing fba AND traders feeling comfortable uploading their strategies (expressing themselves) require it. everything on Synchronicity runs on TEEs (hardware based privacy) which provide high quality privacy guarantees for users without introducing significant computational overhead or costs. at the start, Synchronicity will still be able to look inside the TEEs to ensure everything is running smoothly and fix bugs, but we have laid the ground work to have verifiable privacy, even from us. we will be publishing more on our privacy roadmap in the coming weeks. there are lots more questions to cover, but want to keep this post relatively short. please don’t hesitate to reach out with questions, feedback or anything else. let your imagination guide your strategy. comment for early access.

@bwein_ Moving in synchrony You love to see it

@uttam_singhk That's great news! I'm already deposited I guess. 🥹

JUST IN: Lazarus Group is building their own perp DEX and prediction market.