Dias

There’s not even going to be any money left for quantum computers to steal

How to fix CeDeFi? a) Make it really DeFi x.com/godsflaw/statu… b) Make it CeFi x.com/koeppelmann/st… What would you prefer?

this literally felt less scary than defi today does

NEW: Astronaut Reid Wiseman shares a video of ‘Earthset’ that was taken with his iPhone “This is uncropped, uncut with 8x zoom which is quite comparable to the view of the human eye…” Wiseman said. This has to be the greatest iPhone video of all time.

1. Reduce # of service providers and vertically integrate: too many dependencies for basic financial activities 2. Add time-locks on material money movements. Could even implement a financial app-chain to be able to freeze withdrawals 3. Formally verify code, mandate invariant fuzzing, publish post-audit monitoring with automatic pause triggers on anomaly detection 4. timelocks on privileged actions Not a security expert, but this all seems kind of tables takes if there's real money at risk.

“we’ve become a utility company, as an industry.” “it’s like, great, i’m a fucking power company.” @tarunchitra

@haonan Stablecoin sandwich is a cool name

the "stablecoin sandwich" is the most underrated concept in payments right now here's how it works: collect fiat from the sender, convert to USDC or USDT for cross-border transfer, then convert back to local fiat for the recipient the customer never touches crypto but saves 80%

The world is very different now. A lot of people are stuck in 2021 but @Dune is not.

RedotPay does 80% of all crypto card volume, yet almost no one on English CT seems to know or use it. The reason is simple: Its users are concentrated in emerging markets (Bangladesh 10.98%, India 7.75%, Egypt 5.89%, Nigeria 5.70% of site traffic – US only 4.44%). They use it as everyday utility for remittances, inflation hedging, and cheap spending, not something to hype or screenshot on X. Most of their conversations happen on Telegram (not English CT), and they often post in local languages. The traffic data shows the users are very real. They just don’t live in our bubble.

12-16% rates sounds crazy for retail users in Europe and US. They are normal in private credit and for retail users in developing countries.

imagine if a bank lost over $200M because they met up with some guys a few times and those guys put into the banks acc 0.1818% equivalent of what the bank had in liquidity and so the bankers just used their work laptops to click on some links that these new friends sent them

@arno39 Hiding money

unpopular opinion: the most important crypto use case has nothing to do with making money. what is it?

TLDR on @DriftProtocol hack👇🏻 > 6-month social engineering op > fake quant firm met contributors at conferences > built trust + telegram group over months > onboarded $1M+ vault with real capital > shared "tools" & repos during integration talks > one dev cloned malicious repo → opened in VSCode (silent exploit) > another installed fake TestFlight "wallet" app > malware hit signer devices → compromised multisig approvals > april 1: drained ~$285M in minutes SICKKKKK

I’m often asked: why do I believe cheap on-chain borrowing on Aave and Morpho is here to stay? If rates remain low indefinitely, won’t liquidity eventually evaporate, creating an existential crisis for @YuzuMoneyX - an issuer of on-chain vaults that combines cheap on-chain borrow w RWAs (ie loops)? And if rates rise won't you be unable to loop anymore? Here is why I’m not worried: 1/ Aave democratizes global access to rates that rival or beat the overnight rate. While we take this for granted in DeFi, it’s a level of efficiency you simply won’t find in traditional banking. Recent reports from the Bank of Canada comparing loan performance of Aave vs US and Canadian banks suggest that TradFi is increasingly waking up to the benefits of capital allocation via protocols like Aave. 2/ If rates on Aave or Morpho spike, it’s typically a signal of rising crypto prices or high funding rate environments. In those scenarios, Yuzu simply rotates. We aren't married to looping; we’re married to finding the best fully on-chain risk-adjusted returns while keeping capital preservation in mind.

Crypto disrupts business models that rely on float. I don't think it's well understood how many institutions profit from idle deposits and t+1 settlement. "Your" assets are getting lent out every day, generating billions in yield that you don't see. Crypto fixes this.

Every Defi protocol should have: 1. Circuit breakers for deposit and withdrawals, and possibly other internal operations as well 2. Timelocks for any change 3. Security councils that can shut down protocols immediately We don't need insurance, we need to do start doing the ffcking basics correctly. It's too early for this space to drive without any training wheels. I beg you, sacrifice a tiny bit of UX to gain a lot of peace of mind. The worst possible UX is losing your user's money.

Because it would make things unaffordable to use. Insurance isn't magic, you need to have 1. a low-enough risk, otherwise premiums explode 2. a large base of customers with uncorrelated events Defi has neither today, making it fundamentally uninsurable. (Few exceptions exist)

Honestly insane that the hacker felt comfortable enough to swap their stolen funds into USDC to bridge out. What is Circle doing

Earlier today, a malicious actor gained unauthorized access to Drift Protocol through a novel attack involving durable nonces, resulting in a rapid takeover of Drift’s Security Council administrative powers. This was a highly sophisticated operation that appears to have involved multi-week preparation and staged execution, including the use of durable nonce accounts to pre-sign transactions that delayed execution.