Ben | Circular.fi

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Ben | Circular.fi

Ben | Circular.fi

@bencirc

CEO of @Circular_fi | Member of @SuperteamCAN & @Ferno_ag

Solana Katılım Ağustos 2018
287 Takip Edilen488 Takipçiler
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Ben | Circular.fi
Ben | Circular.fi@bencirc·
I'm always really surprised by how companies lose money on @solana. As CEO of @Circular_fi, I'm led to speak with many companies across the ecosystem. Most of them create value with their transactions. They are either unaware of it or they are afraid of the monetization solutions currently offered by the market (they are right to be). After all these years analyzing arbitrage and speaking with them, two profiles stand out: - The first is the company that are unaware that there are ways to monetize a transaction. They create DeFi transactions but they do not have visibility into the impact a transaction can have. It's never just a simple transaction when you send it on a decentralized network. Your transaction has a real impact on the entire ecosystem and therefore can generate value through arbitrage. Here, my role is simple: educate them and help them understand why they can better monetize their transactions. - The second profile is the more complex one: companies that are fully aware of arbitrage, but do not want to arbitrage their users transactions. That is a noble position and I respect it. But what they do not realize is that with this position, they are not helping their users. They are penalizing them and literally making them lose money. The value created by their transactions will be captured by an external arbitrager anyway, that is a fact. Not wanting to arbitrage their own transactions means voluntarily letting their users money leak into the ecosystem, for free. If we push this thinking further: wouldn't it be more reasonable to capture this value and redistribute it to their own users as cashback? This money generated through arbitrage is not created out of thin air. It is a direct loss for the user caused by AMM inefficiencies. With our years of experience, our public image and our data, we decided a few months ago to create a Monetization Layer. Simple, healthy and transparent for companies. (0.0ms) We receive transactions. (0.1ms) Analyze them in real time. (0.5ms) If a transaction will destabilize the price of a token; we will send an arbitrage transaction who lands after the analyzed transaction. (1ms) We redistribute the majority of the profit directly to the company wallet during the execution of the arbitrage transaction. Then, it's up to the company to decide whether it wants to redistribute a part of this profit. Clear traceability is what makes Circular the first fully transparent Monetization Layer for companies. That is why they choose us. Accelerate.
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Ben | Circular.fi
Ben | Circular.fi@bencirc·
@buffalu__ Very interesting JIP! Maybe there's a feat we could implement between JTX and our Monetization Layer to buy back even more JTO tokens? 🤔
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buffalu
buffalu@buffalu__·
JIP-38 would commit to 100% buy and burn of $JTO for at least one year
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Ben | Circular.fi
Ben | Circular.fi@bencirc·
@isqrt64 @solana Competition is already focused on authenticated searchers but it's mathematically more profitable to set a fixed percentage than to use an OFA (based on internal analyses).
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Flo@isqrt64·
@bencirc @solana Why don't you open up back-run flow for authenticated searchers and let them compete based on cashback percentage to users?
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Ben | Circular.fi
Ben | Circular.fi@bencirc·
A monetization layer must be competitive to efficiently monetize transactions on @solana. There is no clear leader in transaction monetization on Solana, we are going to become that leader. Here's our proposal: - Competitiveness with the top players - Fully verifiable on-chain transparency - A clear voice for companies looking to monetize their transactions To scale this vision quickly, we're exploring the possibility of raising funds and identifying potential partners. Want to join the journey? 👇
Ben | Circular.fi tweet media
Circular.fi@Circular_fi

Circular started by making MEV and arbitrage activity transparent on @Solana. We became the first platform to give the ecosystem a clear view of how this value was created and distributed. Now, we want to help companies capture it. We are building a Monetization Layer where transaction-flow providers can connect their flow to a competitive network of professional searchers. Competition will be at the core of the model: searchers will compete to identify and execute the best opportunities, helping maximize the revenue generated for each flow provider. For every successfully executed opportunity: - 65% goes to the flow provider - 25% goes to the searcher - 10% goes to Circular infrastructure Searchers will be KYB-verified and pre-selected using Circular's ranking of revenues generated independently of private deals, ensuring access is based on proven execution performance, not privileged orderflow. We believe this model can create a more competitive, transparent and efficient transaction-monetization market on Solana. One of the key features of Circular's Monetization Layer: Transparency. Companies want transparency; that's what we've brought to the arbitrage market and we're going to bring it to the transaction monetization market. The share-profit wallet is held by the company; it receives these profits with every arbitrage transaction but most importantly, it receives a comprehensive report at the end of each month detailing all transactions that have been evaluated and have generated a profit. We are now considering a fundraising round to accelerate its development. Want to join the journey? 👇

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Lachezar Kolev
Lachezar Kolev@lbkolev·
Solana's game is mostly rigged (imho). Validators sell orderflow, landing providers sell orderflow, launchpads sell orderflow .. and everyone else with any distribution moat. You should start by convincing someone to smuggle some orderflow for you (for a decent commission ofc) or just don't bother at all. The effort to payoff ratio is too undesirable.
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Ben | Circular.fi
Ben | Circular.fi@bencirc·
@eightbitsim @mert @alessandrod I spend my life on Circular and we even tag most of the orderflow transactions with “Dark Tips”, users already know about this; they just don’t post about it on X 👀
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Alessandro Decina
Alessandro Decina@alessandrod·
so much midcurving around the helius backrunning thing it's crazy > 100% of the block producers do MEV, not all MEV is the same > a lot of stake doesn't even accept TPU transactions anymore > it would have been so much easier for them to switch to a MEV block builder ages ago, delay, rev strat, maxxextract, etc > instead heroically they DID NOT, and remained pretty much the only big validator to stick to the default agave scheduler, no delayers, no bs, this has been GREAT for the network and has objectively lost them money > they've been of HUGE help in improving agave perf. I've profiled and looked at their validator countless times, and all along I've been telling liam I'd personally FUD him to death if I caught him doing sketchy stuff > now they find a way to increase rewards _without_ doing all the dodgy shit everyone else is doing, with a KYCd service which arguably does the least worst MEV > people on twitter are mad ????
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8bit0 🏴‍☠️
8bit0 🏴‍☠️@eightbitsim·
This ends now. Even if I must drag the gods down with it. lets go over simple set of assumptions i am making @mert let me know which one doesn't make sense. I bill 10SOL per slot for consults. 1. the validator has to periodically release shreds [thus txns reaching the TPU have to pass through without delaying] - Network requirement/Social consensus 2. ⁠Backrunning any txn - Involves route searching across the chain state - takes 10-20 ms atleast [including latency even if co located] 3. ⁠A backrun can be done in two ways -> either the source is passed through and the searcher only gets a signal and backrun goes separately [CASE 1] or you bundle the source and backrun [CASE 2] 4. ⁠in CASE 1 [10-20 ms delay = txn will be several positions apart] CASE 2 [src,backrun will be n and n+1] 5. ⁠As multiple txns in this thread have shown, there are CASE 2s with this searcher on bald slots. 6. ⁠Thus to do Case 2; you have to hold the source for 10-20 ms 7. ⁠Which means, the price of execution [within users slippage tolerance] - would differ than what he could have gotten in case 1 8. ⁠CASE 1 is fine, CASE 2 is not 9. ⁠@toly and you both are trying to make a fool of your audience, letting them think you are doing CASE 1, but doing CASE 2. Because 2 makes much more money per backrun vs CASE 1 [coz your guy mriya, gets a priority lane behind the user] coming up with straight answers is rough, requires acceptance, balls, agency & courage. hope you'll use it this time. @trentdotsol @sonic_from_ny @toly @uriklarman @bencirc @0xrafal @alessandrod @niteshnath @bigtimetapin @helius
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Ben | Circular.fi
Ben | Circular.fi@bencirc·
@Cloudflare just dropped a Monetization Layer for the agentic web. We built the one for @solana transaction flow. Validators, RPCs, Wallets, dApps, bots, ... if you already generate valuable tx flow, you can now stream it and earn a share of the arbitrage profits every time an opportunity executes. New revenue streams and transparency are the key words. Turn what you already produce into real recurring revenue. Apply here 👇
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8bit0 🏴‍☠️
8bit0 🏴‍☠️@eightbitsim·
Two @solana validator operators are caught red handed running private inclusion lanes for one of the biggest MEV bots on chain. The backrunner MRiYA4oN3158fCV8evhuCofrDzbHyYvYnGZUDJvoCsa for the backruns analyzed: - Pays zero priority fee → 84% success on @Helius leaders, 80% on Kiln - Same bot, same txs, every other validator: 25% Not SWQoS. Not luck.
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Ben | Circular.fi
Ben | Circular.fi@bencirc·
Validators should be earning more yield on @solana. Over a year ago, $SOL was at $300; its price is now $80. Validators revenues have dropped drastically, causing some to go from profitable to unprofitable. While other companies focus on trying to improve a validator's ordering or scheduler, we focus on how to effectively monetize the transaction flow passing through their network. A transaction is never just a simple transaction; it creates value. That's why we created our Monetization Layer. Safe, Transparent and Valuable. Through arbitrage and our years of expertise in the ecosystem, we generate additional yield for validators. If you're a validator interested in monetizing your transaction flow, visit our dedicated page 👇
Circular.fi@Circular_fi

Your @solana validator creates more than block rewards. Every block can carry additional value through transaction flow. But seeing that value is only the first step. The real question is: HOW MUCH OF IT REACHES THE VALIDATOR ? 😱 Your validator helps secure the network. You may be eligible to receive a share of the revenue generated around its activity.

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PauluneMoon ✨
PauluneMoon ✨@PauluneMoon·
Doubting yourself? I went from studying to be a translator, to esport manager, to self-taught frontend dev and UX/UI designer to building on @solana 🤍 Every step, someone told me I couldn't. When they tell you you can't, don't listen.
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Ben | Circular.fi
Ben | Circular.fi@bencirc·
Based on an analysis of internal data, side deals are more profitable for validators than competition among searchers (and also better for the network). - Arbitrage occurs more quickly, making the market more efficient. - Validators can earn a dynamic percentage-based commission instead of a static tip/fee, which protects them from market fluctuations.
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jay
jay@1337_jay·
I am not saying its perfect but it earns and performs a lot better than some others do. I somewhat agree with what you are saying but the main problem are side deals and private flows. What you are doing with this is not solving the problem but rather contributing to it. The more backrunning we see from private deals, the more validators and the ecosystem will suffer as this does not create competition for searchers, rather an easier way to extract with minimal costs.
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jay
jay@1337_jay·
Or just run Harmonic and see your block rewards go up!
Ben | Circular.fi@bencirc

Validators should be earning more yield on @solana. Over a year ago, $SOL was at $300; its price is now $80. Validators revenues have dropped drastically, causing some to go from profitable to unprofitable. While other companies focus on trying to improve a validator's ordering or scheduler, we focus on how to effectively monetize the transaction flow passing through their network. A transaction is never just a simple transaction; it creates value. That's why we created our Monetization Layer. Safe, Transparent and Valuable. Through arbitrage and our years of expertise in the ecosystem, we generate additional yield for validators. If you're a validator interested in monetizing your transaction flow, visit our dedicated page 👇

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