HondaCrypto

What if burning wasn't the end? We sat down with Detritus, Lord of the @Sacred_Waste. He's building a protocol that turns dead tokens into new possibilities. Full interview in the next tweet 👇

The convergence of AI agents and decentralized compute is the real game changer for 2026. Seeing massive strides in inference efficiency this week. #AI #DePIN

Finally, the block building pipeline. In Glamsterdam, Ethereum is getting ePBS, which lets proposers outsource to a free permissionless market of block builders. This ensures that block builder centralization does not creep into staking centralization, but it leaves the question: what do we do about block builder centralization? And what are the _other_ problems in the block building pipeline that need to be addressed, and how? This has both in-protocol and extra-protocol components. ## FOCIL FOCIL is the first step into in-protocol multi-participant block building. FOCIL lets 16 randomly-selected attesters each choose a few transactions, which *must* be included somewhere in the block (the block gets rejected otherwise). This means that even if 100% of block building is taken over by one hostile actor, they cannot prevent transactions from being included, because the FOCILers will push them in. ## "Big FOCIL" This is more speculative, but has been discussed as a possible next step. The idea is to make the FOCILs bigger, so they can include all of the transactions in the block. We avoid duplication by having the i'th FOCIL'er by default only include (i) txs whose sender address's first hex char is i, and (ii) txs that were around but not included in the previous slot. So at the cost of one slot delay, only censored txs risk duplication. Taking this to its logical conclusion, the builder's role could become reduced to ONLY including "MEV-relevant" transactions (eg. DEX arbitrage), and computing the state transition. ## Encrypted mempools Encrypted mempools are one solution being explored to solve "toxic MEV": attacks such as sandwiching and frontrunning, which are exploitative against users. If a transaction is encrypted until it's included, no one gets the opportunity to "wrap" it in a hostile way. The technical challenge is: how to guarantee validity in a mempool-friendly and inclusion-friendly way that is efficient, and what technique to use to guarantee that the transaction will actually get decrypted once the block is made (and not before). ## The transaction ingress layer One thing often ignored in discussions of MEV, privacy, and other issues is the network layer: what happens in between a user sending out a transaction, and that transaction making it into a block? There are many risks if a hostile actor sees a tx "in the clear" inflight: * If it's a defi trade or otherwise MEV-relevant, they can sandwich it * In many applications, they can prepend some other action which invalidates it, not stealing money, but "griefing" you, causing you to waste time and gas fees * If you are sending a sensitive tx through a privacy protocol, even if it's all private onchain, if you send it through an RPC, the RPC can see what you did, if you send it through the public mempool, any analytics agency that runs many nodes will see what you did There has recently been increasing work on network-layer anonymization for transactions: exploring using Tor for routing transactions, ideas around building a custom ethereum-focused mixnet, non-mixnet designs that are more latency-minimized (but bandwidth-heavier, which is ok for transactions as they are tiny) like Flashnet, etc. This is an open design space, I expect the kohaku initiative @ncsgy will be interested in integrating pluggable support for such protocols, like it is for onchain privacy protocols. There is also room for doing (benign, pro-user) things to transactions before including them onchain; this is very relevant for defi. Basically, we want ideal order-matching, as a passive feature of the network layer without dependence on servers. Of course enabling good uses of this without enabling sandwiching involves cryptography or other security, some important challenges there. ## Long-term distributed block building There is a dream, that we can make Ethereum truly like BitTorrent: able to process far more transactions than any single server needs to ever coalesce locally. The challenge with this vision is that Ethereum has (and indeed a core value proposition is) synchronous shared state, so any tx could in principle depend on any other tx. This centralizes block building. "Big FOCIL" handles this partially, and it could be done extra-protocol too, but you still need one central actor to put everything in order and execute it. We could come up with designs that address this. One idea is to do the same thing that we want to do for state: acknowledge that >95% of Ethereum's activity doesn't really _need_ full globalness, though the 5% that does is often high-value, and create new categories of txs that are less global, and so friendly to fully distributed building, and make them much cheaper, while leaving the current tx types in place but (relatively) more expensive. This is also an open and exciting long-term future design space. firefly.social/post/lens/8144…

hyperliquid update #4 [$37] - will try to keep all thoughts on this coin here as I did w/ the solana thread as believe this will be leading beta to bitcoin if crypto continues to do well this year - first alt to reclaim ATHs and 4x off bottom from tariffs panic - was expecting pullback sub $30 & has gotten frontrun so far, maintaining bullish bias as long as $25-30 holds which is also ideal spot to pickup spot bags - feels like a lot of ppl sidelined here as majority of activity & focus has been on solana past two years & has been difficult to buy $HYPE for retail - just this week spot listing on Binance US but still no spot on Coinbase or Robinhood metrics to track to confirm/break thesis - continued growth against CEX volumes, DEX vs. CEX perps % market share - continued dominance of decentralized perps landscape, currently ~80% - success/failure of hyperEVM & new apps building there, want to see influx of new activity outside of just perps [x.com/PixOnChain/sta…] - ability of hyperliquid to add additional markets outside of just core perpetuals, like spot markets through @unitxyz - usage of HIP-3 to allow other builder-deployed perps hyperliquid.gitbook.io/hyperliquid-do… - main differentiator for me w/ hyperliquid is that the core business is enshrined within the L1, with all other dominant L1s they leak a lot of revenue from the activity on their chain to the applications built on top - @ThinkingUsd has commented on this the most on here x.com/ThinkingUSD/st… current invalidation for maintaining uptrend around yearly open ~$24 comparisons to other repricings that have happened past few years in crypto [x.com/skewga_hyper/s…] x.com/blknoiz06/stat…

NFT volume starting to buzz on Magic Eden again. Feels like some energy is creeping back in.

This is the time to go ALL IN. While everyone else watches Netflix this weekend, you could get ahead with AI. My advice: pick 1-2 tools/workflows from this list and learn them like the back of your hand. Your goal: have a working prototype by Monday.

@benjamincowen Yeah, that late-cycle caution seems to have played out as expected with this pullback.

In January, we outlined a late-cycle restrictive regime and leaned cautious on risk. Since then, BTC has declined materially and leadership has narrowed. The February Macro Risk Memo expands the framework beyond crypto into broader macro. Now live: benjamincowen.com/reports/macro-…

Something is probably cooking here: solanagpu.xyz x.com/solanagpu/stat… I have invite codes for five people: 1S3A7

I’ve just committed 3328030.010387002 points into MON Protocol’s $TRIA Launchpool, LFG! app.pixelmon.ai/launchpool/793 @monprotocol @useTria

Just earned 0 Access Points on Rally! Join me: waitlist.rally.fun/joinme/honda_c…

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Tomorrow, the gates open. $1,000,000 USDC Trade Fund. 100 enter. 1 survives. Stop trading small—trade to qualify. Make Public 80, then face the Elite 20. Public Qualifiers opens soon → acetrader.com/acetrader-100

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@CoinbaseMarkets $FIGHT

Assets added to the roadmap today: Seeker (SKR), FIGHT (FIGHT) coinbase.com/blog/increasin…

@CoinbaseMarkets $FIGHT 👹👹👹👹👹

Introducing $GWEI: the governance token for ETHGas. Built to govern Realtime Ethereum.

Join me on Psy Protocol! Use my invitation link to get started: psy.xyz/psychonaut?ico…

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🚨 Spekter Agency Official Launch: Season 1 is NOW LIVE on Telegram & LINE! 🚨 After an incredible Open Beta, Spekter Agency has officially launched on both Telegram and LINE, and with it comes the full kickoff of Season 1 – bigger stages, more power progression, deeper builds, and even more ways to earn. Play Now: - Telegram: t.me/spekteragency_… - LINE: @spekteragency" target="_blank" rel="nofollow noopener">line.me/R/ti/p/@spekte… Build your ultimate Rune loadout, crush 120 stages, chase big Gold Slot multiplier wins, and start stacking your Sparks like a true agent. And finally, meet Zen, the silent prodigy bound by a curse and reborn in the form of a doll. Her precision is unmatched, and her shuriken technique is deadly. Play as Zen and unleash her shuriken power ✨ As you dive into Season 1, don’t forget to explore Spek Hub, your central command center for Sparks, Vaults, and all rewards across the entire Spekter Games ecosystem. Access Spek Hub: - Spek Hub website: hub.spekter.games - Spek Hub TG MiniApp: t.me/spekhubbot

I’ve just committed 2978300.2678040015 points into MON Protocol’s $CFI Launchpool, LFG! app.monprotocol.ai/launchpool/760 @monprotocol @ConsumerFi

6 days left of BOOSTED swaps with NEAR Intents as part of $CFI Season 1 Want to know how to boost your $CFI rewards even more? Many partners are taking in Season 1, with a variety of boosts + bonuses available to claim Pro tip: PlayEmber NFTs unlock upto a +90% weekly Bonus multiplier! And are eligible for $CFI airdrop More details below 👇