Benedict Chan

We’re launching the missing team layer for AI-powered development 🚀 The SDLC was built around coding. Coding has changed, and the SDLC must be updated. Lightsprint makes agentic development collaborative with visual plan mode, parallel cloud agents and PR preview environments. Try now: lightsprint.ai

Lightsprint.ai has created hosted GStack, so it's the fastest way to get going on creating new things

@worthalter @benjaminion_xyz @dannyryan @iwantlambo @mteamisloading @dankrad @smyyguy @DistributedMarz @danrobinson @ben_chain im alive sir, still collecting poaps at denver

@benjaminion_xyz @dannyryan @iwantlambo @mteamisloading @dankrad @smyyguy @DistributedMarz @danrobinson @ben_chain Someone tag Ben Chan (Bitgo and Chainlink)

Danny Ryan @dannyryan Dankrad @dankrad Dan Smith @smyyguy Dmarz @DistributedMarz Dan Robinson @danrobinson you have nothing on our danchads

How Wrapped Bitcoin (WBTC) Happened and Its Purpose Back in 2018, a few months after we launched Kyber on Ethereum's mainnet, the decentralized finance (DeFi) space was still in its early days. There weren’t many high-liquidity altcoins on Ethereum, and the entire decentralized exchange (DEX) ecosystem was seeing less than $1 million in daily trading volume. DeFi's total value locked (TVL) was only in the tens of millions. We realized that to really help DeFi grow, we needed to bring Bitcoin liquidity into the ecosystem. We discussed the problem within our team— @tranvictor , @weremeow , @realYaronVelner everyone was really supportive and excited. The main challenge was figuring out the technical solution. We knew there would be some trade-offs between technical complexity and trust, no matter what we chose. Around that time, I was catching up with an old friend, @bencxr , who was the CTO of BitGo, when he visited Singapore. I openly discussed the problem with Ben, and he was very supportive & saw the importance. We eventually decided to work with a centralized custodian model to keep the design simple and avoid hidden technical risk. BitGo, with Ben’s support, was the right partner to handle this. We also brought in @renprotocol (known as Republic Protocol back then) as another founding project, but most of the work was done between Kyber and BitGo. BitGo managed most of the off-chain technical and legal work, such as the minting and burning process, integrating with BitGo custody, and setting up a transparency dashboard. Meanwhile, Kyber handled the smart contracts, partner and community outreach. Yaron was in charge of the smart contract and the DAO, Meow made sure everything launched in the right direction & with the good narrative, and @0xBoyeon led the partner onboarding & coordination. We decided not to call it Kyber BTC or BitGo BTC because we wanted it to be a public good. We went with a neutral brand—Wrapped BTC (WBTC) because envetually no one owns this project. We also worked hard to explain to everyone why having Bitcoin liquidity on Ethereum was so important & asked for their support. It wasn’t a hard sell; most people agreed it needed to be done, but no one had taken the plunge yet. Eventually, we got support from the broader DeFi ecosystem and launched WBTC with backing from most of the high-profile DeFi projects at the time. Fast forward to today, and WBTC has around $9 billion USD in TVL and is considered the de facto Bitcoin token on Ethereum and other EVM chains. I think a few things contributed to its success: a community-centric approach, a simple and easy-to-understand tech design where trust is clearly stated, and of course, being the first mover. Recently, we were surprised by some changes BitGo made, and we want to understand their motives better. WBTC is in a stable condition and doesn’t require changes to thrive, thanks to its already wide adoption and industry trust. However, this sudden move by BitGo makes everyone question whether that trust has been broken and what risks it might pose to the future of WBTC under BiT Global. We’re eager to learn more in the upcoming Space with Meow, @mikebelshe, and @justinsuntron . x.com/weremeow/statu…

Constellation devs: Join @ChainlinkLabs VP of Engineering @bencxr and Head of Developer Relations Akersh Srivastava for a fireside chat today at 11AM ET. Discover what skillsets are needed to thrive in Web3 and key areas for dev innovation👇 youtube.com/watch?v=eW9Out…

🤝 Extending a warm welcome to @bencxr from @chainlinklabs as a valued speaker of #EthereumSingapore2023! Join us as Benedict shares how @chainlink is revolutionising the Web3 Community. See you there!

.@bencxr, #Chainlink Labs’ VP of Engineering, detailed the Cross-Chain Interoperability Protocol (CCIP) at #SmartCon, showing how the open-source standard enables a secure multi-chain ecosystem and supports cross-chain innovation. Watch his full keynote: youtube.com/watch?v=HhK6ma…

Wrapping up at #SmartCon is a keynote presentation is @bencxr of #Chainlink Labs on Cross-Chain Interoperability

Looking forward to the #SmartCon keynote today! I will be speaking about innovations in smart contract and #DeFi infrastructure. hopin.com/events/smart-c…

@zosegal @mosayeri @JaredHedglin Thank you Zach!

Excited for all my friends from BitGo for the acquisition announced today. Congratulations! @bencxr @mosayeri @JaredHedglin coindesk.com/galaxy-digital…

Chainlink Labs VP of Engineering @bencxr explains how @Chainlink’s recent OCR upgrade reduces operating costs by an order of magnitude, enabling the launch of more secure oracle feeds and powering a new wave of on-chain data to support #DeFi development. youtu.be/g1kcJFwFAWo?t=…

Off-Chain Reporting is now live on mainnet, marking a major scalability upgrade of Chainlink’s oracle network. OCR reduces on-chain gas costs by up to 90% & enables #Chainlink to bring 10x more data on-chain, accelerating #DeFi & smart contract innovation. blog.chain.link/off-chain-repo…

@bobbyong @etherscan The gas tracker is great for looking at the top gas spenders and practical Dapp usage. As for gas fee estimates, I personally favor mempool-based approaches with repricing.

I just found out about @etherscan's Ethereum gas tracker from @bencxr. A simple swap on Uniswap will set you back $78 on average speed. 😱😱 Uniswap's contract takes up 21% of all gas on Ethereum in last 24 hours. We need Uniswap Layer 2 ASAP! etherscan.io/gasTracker

Excited to join @Chainlink! Building infra for crypto is my passion. Trustless digital agreements were a dream when I began my crypto journey. Today, scalable and reliable data networks for smart contracts is what I believe will unlock the next phase of growth for #DeFi.

Proof of Reserve allows #DeFi protocols to have proof about the collateral they rely on. Encouraging the use of that collateral. It's on track to secure $1Bn+ in BTC through @WrappedBTC and @renprotocol: #6516e3f1f3ae" target="_blank" rel="nofollow noopener">forbes.com/sites/rorymurr… blog.bitgo.com/chainlink-brin… medium.com/renproject/cha…

On 1st to 5th June, come join us to learn about #DeFi. Learn more about @MakerDAO, @KyberNetwork, @melonprotocol, @AaveAave, @WrappedBTC. Sign up and join the South East Asia DeFi Week here: eventbrite.com/e/southeast-as…

🤯🤯🤯🤯 Practically doubled the amount of #Bitcoin locked in $WBTC. defipulse.com/wbtc

Happy Having to you all!

Computers are so much better at enforcement of fiscal policy than humans. #bitcoin

The final Bitcoin block with a subsidy of 12.5 BTC was mined by @f2pool and contained the following message in its coinbase transaction: 🐟NYTimes 09/Apr/2020 With $2.3T Injection, Fed's Plan Far Exceeds 2008 Rescue blockchair.com/bitcoin/block/…