_gabrielShapir0

Tokenization shouldn't require brokers, transfer agents, or custodians. Today MetaLeX is releasing Mainframe, a new app for directly tokenizing any security on MetaLeX's one-of-a-kind autonomous protocol. It's free & unruggable. We are happy to consult/partner on use cases.

just realized X has a thumbs-down feature now and I've been accidentally thumbs-downing you all.

RIP Canton

@kai_cabero if true, you can likely get a nice bounty from the SEC through its whistleblower program, and I'd recommend you do so as this is one of scummier forms of securities fraud I've seen

I know a guy who pretends to be a venture capitalist to get his competitors to voluntarily hand over their entire client list, revenue numbers, and churn rate... He is not a VC. He has never invested in anything. He drives a 2019 Civic But he registered an LLC called "[City Name] Growth Partners" and built a one-page website with stock photos of a downtown office he has never been inside. Total cost: $57 Every quarter he emails the founders of his 8 biggest competitors with this exact subject line: "[Company Name] - Growth Partners Preliminary Interest" The body says: "Hi [founder first name], we've been tracking [company name]'s growth in the [niche] space and believe there may be alignment for a strategic growth investment in the $2M-$5M range. Would you be open to a 30-minute intro call to discuss? We typically move fast on companies with your profile." 94% reply rate. Because every founder running a $500K-$3M agency secretly wants to be acquired and nobody has ever emailed them saying they want to invest The "intro call" is 30 minutes of the founder voluntarily handing over every metric in his business because he thinks he is pitching an investor "What's your current MRR?" "What's your client retention rate?" "Can you walk me through your top 10 accounts by revenue?" "What's your average contract value and sales cycle?" "What does your team structure look like?" The founder answers all of it. In detail. With pride. He even sends a follow-up email with a Google Drive link to his internal dashboard because the "VC" asked to "review the numbers with my partners" The guy now has the complete financial anatomy of 8 competing agencies. He knows who their biggest clients are. He knows which clients are at risk of churning. He knows exactly what they charge. He knows their margins He waits 3 weeks after the call. The founder sends a follow-up asking about "next steps." He replies: "Appreciate the time, [name]. After reviewing with the team we're going to pass on this round but will keep [company] on our radar for future opportunities. Best of luck with the growth." The founder is disappointed but not suspicious. VCs pass all the time Meanwhile the "VC" loads the competitor's top client names into AI-Ark. 89% verified emails first pass. Findymail catches the rest The cold email to their clients: "[first name] - most teams running outbound at your scale end up overpaying for [the exact service the competitor charges them for, which he knows from the call]. we install the same backend at roughly 30% less with a refund if results don't beat what you're getting now. quick whatsapp?" He knows the exact price to undercut because the competitor literally told him on a recorded Zoom call while trying to impress a fake investor 11 months in. $1,140,000 in closed revenue from the 8 "due diligence" calls Two of the founders he "evaluated" are now paying HIM as clients. They hired the guy who pretended to be their investor and stole their customers. They have no idea. They just think he runs a good agency He told me "founders will tell a stranger in a suit their deepest secrets if you call it due diligence. I call it that" I asked if any of them ever figured it out. He said "one guy saw me at a conference and said 'hey aren't you from Growth Partners?' and I said 'yeah we pivoted to services.' He bought me a drink. He's my client now" The operating cost of pretending to be a venture capital firm: $57 in domain registration and hosting The revenue from pretending to be a venture capital firm: $1.14M The 2019 Civic now has a custom license plate. It says "DUE DLGNC" Few

My primary coverage at Galaxy has been Solana and Crypto x AI. About a year ago I started paying more attention to Ethereum as I saw real shifts in its technical direction and management. The past few months feel like a culmination of that reset: the Strawmap, the Mandate, the EF cuts, and now @ethlabs_org. A lot of people read this as a bad sign. I don't. - The @ethereumfndn is smaller and narrower, focused on the one thing it should be protecting: Ethereum's credible neutrality. - The Strawmap puts L1 scaling back at the center after years of chasing rollup-centric priorities. - And a new set of ETH-aligned organizations with funding and skin in the game is emerging to drive adoption (Ethlabs, @Etherealize_io @BitMNR, etc...) As @VitalikButerin recently wrote, this is Ethereum's "Third iteration." Now lets see some execution. Glamsterdam first.

@kaereste turns out it was a ordinary public companies that were really decentralized the whole time

At Devcon Bangkok, I gave a presentation on DAOs and said that the O in DAO stands for "oyoyoy." A year and a half later, I have to admit that it still does. DAO contributors have failed to establish any real form of self-organization and coordination. Without that, there is no agency. DAO voting becomes a vibe check, and being DAO-funded can mean operating with a complete lack of responsibility or accountability. Looking back, I think there have been several honest attempts to solve this, notably, closest to my own backyard, in Arbitrum and Optimism. They failed for different reasons, but in my view it all comes down to priorities and project maturity. If your immediate priority is survival and finding the right pivot toward product-market fit, you do not necessarily focus on building proper governance structures that can outlive your own tenure. Totally reasonable. For comparison, I have recently been following developments around the annual general meeting of CD PROJEKT RED, the game developer behind The Witcher and Cyberpunk 2077. 58% of the capital actively participated in the votes. Some votes barely passed. +a ton of reporting on the current state of the company and the broader market outlook. Completely different worlds. But I strongly believe we will get there eventually. I believe tokens can become a superior means of ownership to traditional shares, and that we will be able to unlock better coordination and value generation structures with them. However, at this point we need to get back to the drawing board, learn from past mistakes, and start from scratch. The O cannot be figured out at a later stage. It needs to be designed and structured from the get-go. Future governance processes cannot be left for participants to figure out on their own. I have some ideas for experimenting with this on a small to medium scale in the future, so stay tuned.

@CupOJoseph only if we disrupt them, instead of "partnering" x.com/lex_node/statu…

Ethereum could be bigger than this. The amount of infrastructure that goes into settlement in traditional finance is mind-boggling. The EVM is the most efficient settlement layer ever created by man.

@donnoh_eth @banteg you can't really prevent it. coinbase is literally offering *leverage* on staked ETH issuance reduction will just result in even more intermediation, going to CEXs (and their own centralized LSTs) and DATs instead of Lido...

@banteg @lex_node i assume this to get worse over time anyway, therefore it’s better to prevent high % of eth ending up in LSTs in the first place

did the math on my solo staking for the first time. my hardware costs amount to 22% of rewards. i’d be better off with lido with their 10% cut. pretty sure people suggesting cutting the emissions have never tried solo staking and have no idea of its requirements or economics.

this would just mean an even greater % of stake is through intermediaries, as home stakers are nerfed! I don't think anyone would credibly make an argument "the point of this proposal is to kill home stakers", they present it as nerfing the intermediaries--it does the opposite! it makes them even more dominant in network terms

@lex_node @banteg i thought the goal was to prevent high % of eth being liquid staked through intermediaries? i dont have any problem with high % of stake being in lido, i actually really like lido because trust minimized, but it’s still an intermediary (and ofc others are much worse)

@donnoh_eth @banteg yes, you just made a great argument why issuance reduction will not solve the problems it is aimed at as for Lido dominance, you should take a look at their recent numbers and talk to some people who work on it--it is DATs and CEXs that are accumulating stake

@lex_node @banteg why? if it is already profitable to consolidate in lido as banteg is presenting, then over time everyone just consolidates, and you could get in scenarios where >50% of eth is in lido. you prevent excessive eth being in lido by reducing rewards at high % of eth staked

@sohailshai76 🤣🤣🤣

delegation was always a psyop designed to mask concentrated DAO voting power...

@donnoh_eth @banteg there's no real reason just to reduce ETH staked for its own sake, the more intelligent argument is to reduce intermediated ETH staking, but seems this may increase intermediation instead

@banteg @lex_node if the goal is to reduce the amount of eth staked, and reducing emission outprices some validators, i guess it would work as intended?

@banteg an alternative take is that they know these requirements very well, one of the main proponents of issuance rate cut runs a 'we help you stake your ETH' service which would become more attractive if solo staking is less so

@claudeai make it available for telegram please

Introducing Claude Tag, a new way for teams to work with Claude. In Slack, Claude joins as a team member with access to the channels and tools you choose. Tag Claude in and delegate tasks to it while you focus on other work.

@Jebus latency

Cryptocurrency needs a rebrand What’s the opposite of currency?

probably only 5 people in the world care but on 2 may the tornado cash proposal 66 was accepted (i.e. on-chain executed), which means an update to the ui version (tornadocash[.]eth[.]limo and some other domains). today i finally found the time to carefully review the _two new commits_. i documented my findings in a gist. i would really appreciate an additional review from others, as i can always miss something but based on my analysis, all the changes are _legitimate_ (although the quality of the commits are shit imho). my analysis: gist.github.com/pcaversaccio/d…

Banger.

@l_woetzel @brane_trix @ryan_sumpter1 @axelar litigation itself is a consequence--costs money, time, stress, has risks

@brane_trix @ryan_sumpter1 @axelar Name a single case where protecting end users by freezing hacked funds netted a negative "consequence" from a legal perspective? And I mean a solidified consequence, not an incomplete litigation.

Enough is enough. @axelar there are $700k of hacked funds STILL SITTING on Axelar from the exploit on Secret. There are multiple examples in history of DAOs seizing hacked assets to help remediation. Your refusal to protect users is disgusting. mintscan.io/axelar/address…