Lokp Ray

q update: have joined @RobinhoodApp chain team^^

I beg everyone in crypto to read this in full. I expected this to be another case of social engineering, likely some recruiter/job offer shit. I was very wrong. And the depth of the operation and personas makes me think they already have multiple other teams on lock. 😳

@robotevm PropAMM support is key. Glad 0x adopted early pioneering in the EVM space for this

@Ian_Unsworth Distribution of market share? “Access to low-latency shred data has historically been dominated by various services like Jito’s ShredStream, Helius, bloXroute, Corvus, and others. “

we found Doublezero’s unreleased tier pricing for shred subscriptions and it can potentially scale revenue to the 10s of millions, all of which goes to buybacks & distributions we also mapped all of Doublezero’s contributor wallets onchain to see what they do with their rewards

@kashdhanda @tryfomo @jup_lend Fomo prob will just do it so is all the other crypto native trading app

free idea: @tryfomo for tokenized stocks/commodities. go all-in on social trading using 24/7 rails accessible to anyone, anywhere, without friction and paperwork. differentiate with incredibly low fees compared to brokers, yield on deposits via @jup_lend APIs, and gamified UX. if you focus on non-US markets and use @JupiterExchange APIs for trading, i reckon you'd be able to get to market pretty quickly. if you're able to attract users, evolve into a hyperbank over time. if you build this, please tag me!

@annanay “XTX was founded a bit later, but as far as I can tell, the bulk of their PnL is from speedbumped (or similar) equity/FX/metals ATS's and ECNs, with no breakaway success in futures.” any ref/src on the speed bump part?

Totally agree with this, and wish the big futures exchanges would do more to put an end to it. Infra (networks and hardware) was always top of mind in my past life - you can do all the quant work you want in HFT, but if somebody is xx ms faster they will just blitz you. Despite this, tradfi futures exchanges push ahead with latency upgrades. This is despite the better advice of: >hft quants at top firms, whose infra costs now cannibalize the PnLs of their strategies >hft quants at non-top firms, who are gatekept out of a market they can add liquidity to >takers, who now face lower liquidity. Eurex is in its sub-nanosecond era and I'm not sure who is happy with this besides a few FPGA engineers who have suddenly found employment. Even a 100us speedbump allows for a lot more competition + liquidity, while making no tangible impact to price discovery. The empirical evidence supports this. Happy to be corrected here but the newest player that's managed to make a big splash in 'traditional' HFT is Radix, founded in... 2012. XTX was founded a bit later, but as far as I can tell, the bulk of their PnL is from speedbumped (or similar) equity/FX/metals ATS's and ECNs, with no breakaway success in futures. Their research'constantly calls for similar speedbumps/ latency protections, and it's clear they don't want to play the same game. All remaining HFT successes have come from the wave of crypto cexes in 2021, and none have managed to find their way into tradfi. This isn't because they aren't capable; tradfi markets just don't want to upset their paymasters.

@tednotlasso @CashApp didn’t know you switch job but congrats

have bought bitcoin on other finance apps and surprisingly @CashApp hands down has the cleanest UX and you actually get the exact amount of bitcoin you’d want to buy instead of net of fees AND from April 6 - 10 you even get $5 of bitcoin back if you buy $10 worth. try today and learn more at btc.day. @cashapp, @bitcoinatblock, and @square. #CashAppPartner

@wojventures Feel like they should support stablecoin. I used/seen it on Ramp so feel like stripe def should (maybe not with tempo stuff just yet idk 🤷‍♂️)

@lokpray what setting do i turn on? By default it's credit card only

back in the arena

@Henrik_on_HL ’m actually a bit confused — can it also be constructed as dated options (not just binary)? I thought that was part of the thesis in hip4 but might be wrong since i don’t see how strikes can be incorporated

HIP-4 (prediction markets) will be live very soon on Hyperliquid

^

xtx is the hrt of 🇬🇧

@PaulFrambot During one of my trading internships in ‘19 in Chicago, my manager shared this with me: Hot weather → (ice cream sales ↑ and deaths/crime ↑), but ice cream sales do not cause deaths src: plebeianscience.wordpress.com/2017/06/18/why…

Weather prediction markets will transform financing for ice cream shops. Model ice cream revenue assuming every day is sunny. Hedge it by shorting bad weather on your location. Clean cashflows. Bankable projections. Generalize to all seasonal businesses. Who is building this?

whenever you see the founders all of a sudden tweeeting like crazy, you know they are prob trying to raise a new round 🤷‍♂️ attention is all you need…

oh: theres prob more stablecoin (&adjacent) projects > agents making payments > humans asking for this feature

@_patrickogrady @MaxResnick @Ashwinningg Is this live? Where do we watch it?

Looking forward to digging into Constellation (and all things DSMR/MCP) with @MaxResnick and @Ashwinningg on "How Things Work" next week! Drop any topics/questions you'd like to see covered and we'll do our best to get to the most interesting ones 👀

One of the boxes behind is legendary if you can spot it 👀

Expensive after work hobby when you are nearby all the time 😭

@no__________end Ex plz

@thattallguy @danrobinson @semajeth @lokpray @StanleyHe17 I've spoken to 3 teams that have implemented it for use cases outside of general purpose forecasting and have been approached by several others. Private markets are a component of the architecture for a larger system that I've been working on in stealth.

the core issue here is, AMM is a weird mix of a bad fund manager (who runs a rebalancing portfolio that loses money for any price movement) and a bad market maker (who loses money on every trade, and wish to win it back in fees) when applied to PM, the fund manager part of AMM is destined to lose ALL of it, because one of the outcome token is going to 0 this makes it almost impossible for the market maker part to make it back now you ask, what not become a better fund manager? in that case you’d need to trade against your users, and very often it’d mean NO LIQUIDITY at all. this is the price efficiency issue noted in the original post, but I suspect it will be so insurmountable that the pool will be non-tradeable @danrobinson and @paradigm designed pm-amm, which only created a market maker that’s as bad as one for regular assets (before it was even worse), without addressing the fund manager part. and that means, it’s really hard

@erikalee Including this?

your fav founder is using VC money on ABG-led marketing