magic

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magic

@magicdhz

shredding just in time thoughts | more dots | 🥩 | thoughts are my own | DMs open for builders/apps | @jitoFDN @jito_sol | prev: @blockworksadv @blockworksres

onchain Katılım Eylül 2020
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magic
magic@magicdhz·
Solana is not broken, the base layer goes hard and consistently beats other chains in costs, throughout, and spot trading, year after year. Solana DeFi is fragmented bc market participants need to traverse multiple schedulers, all of which have their own quirks and varying degrees of transparency. BAM’s design philosophy is delivering consistency and transparency. In a world of multiple schedulers and different market regimes, BAM validators will deliver what you expect.
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knox
knox@justinknox__·
something i keep thinking about, perplexity, claude, cursor, they're not replacing devs they're replacing the junior hires, college grads are cooked if you know WHAT to build you just gained so much leverage.
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bigtime
bigtime@bigtimetapin·
The AMM is an artifact from the ETH playground -- will be a distant memory soon enough
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magic
magic@magicdhz·
how come no one is talking about the user 😭 who cares about which block builder won the auction. there will be no auction to win in 10 years if these are possible user outcomes
Quasar Builder@QuasarBuilder

Here's a concrete example. Imagine a new builder who manages to assemble a block from mostly mempool transactions, and those transactions generate a block with a value of 0.01 ETH. Now imagine for that same slot, the two dominant builders each build blocks of 0.02 ETH and 0.022 ETH. With a blind auction, those dominant builders will end up bidding maybe 0.019 ETH 0.021 ETH respectivly. With no price discovery, they'll be bidding based on historical levels that win them a certain percentage and maintain themsleves the a certain profitiblity. Now instead imagine an open auction. Everyone will start bidding at a floor, and the big builders with 0.02 and 0.03 ETH value will start low knowing they can respond higher. So the new builder can come in and bid 0.001 ETH lets say. Of course she is immediatly outbid. But then each builder increases bids in kind. The new bidder can then bid up a block to 0.01. And becuase they can see the bids, they can also decide they'll pay perhaps 0.005 ETH extra just to win. So as the bids increase, the new builder is lucky, and ends up winning the bid at 0.013 ETH. Why? Because no one knows when the validator is going to choose their bid, and some percentage of the time the smaller builders latest outbid will be selected. In the blind auction, scenario, even if a smaller builder wants to spend 0.005 ETH to land their 0.01 ETH block, they will likley have no chance, since the larger builders will always end up bidding up the price to the validators beyond what a small builder can afford.

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magic
magic@magicdhz·
@MostlyData_ a wise man once said, show me the incentive, ill show you the outcome
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magic retweetledi
magic
magic@magicdhz·
- why would anyone trade size and broadcast it onchain, isn't that the whole bear thesis for onchain perp DEXs? >> BAM is private tx pipeline - doesn't this shift inventory risk to onchain liq providers? and since it's 'black box' how can sophisticated LPs hedge and manage that risk? >> my pessimistic view on typical AMM LPs is they are (have been) a leaky bucket and will continue to leak without improvements. (think BAM can help here). optimistic view is typical AMMs serve a different type of market participant (not market-makers), and design space to address this group is still very large. again, think BAM can add value here -- devil is in the details! - how does one avoid bad fills, oracle lags, etc.? >> JIT routing. BAM can address this too. - it's not like solana solved MEV or is without its bugs, outages or scalability issues (or in other words: this is jito on steroids??) >> yes you are right. imo, MEV is inherent to system without tx privacy. BAM is the solution for this. - how do you harden this system against spam >> make it more efficient we dont have docs for these things yet, but we are exploring these topics all the time. happy to chat more if interested to build on BAM! 🫡
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Shual
Shual@0xShual·
@brian_smith_0 well he did just drop 83 jokes aside, where can i read more?
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Shual
Shual@0xShual·
someone please explain to me how this is a good idea, cause I genuinely can't see it - why would anyone trade size and broadcast it onchain, isn't that the whole bear thesis for onchain perp DEXs? "no serious player or institution will ever trade there", toxic flow and all that? - doesn't this shift inventory risk to onchain liq providers? and since it's 'black box' how can sophisticated LPs hedge and manage that risk? - non deterministic routing??? how does one avoid bad fills, oracle lags, etc.? - it's not like solana solved MEV or is without its bugs, outages or scalability issues (or in other words: this is jito on steroids??) - how do you harden this system against spam
Kyle Samani@KyleSamani

0/ PropAMMs are one of the most important innovations in market microstructure in years, possibly decades. A thread

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magic
magic@magicdhz·
@MattTheFinGuy @KyleSamani @ipopflop depends on the scheduler, but most validators run schedulers that include and shred txs in increments that are smaller than the standard slot time so prop AMMs update quotes multiple times a slot
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Matt TFG.F
Matt TFG.F@MattTheFinGuy·
@KyleSamani @ipopflop Can you explain in detail why such liquidity is not subject to the block time limit?
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Kyle Samani
Kyle Samani@KyleSamani·
0/ PropAMMs are one of the most important innovations in market microstructure in years, possibly decades. A thread
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magic
magic@magicdhz·
nick the radiologist is the next dicaprio. bookmark it.
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buffalu
buffalu@buffalu__·
one more rebase then up only
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Finn
Finn@solace_fm·
I am ecstatic Thrilled to be joining forces with one of (if not the) most respected and directionally aligned teams in the eco Excited to work alongside long-term players to push Solana forward however we can Ball. Up. Top
SolanaFloor@SolanaFloor

SolanaFloor is back. As of today, we are thrilled to announce that SolanaFloor has been acquired by @jito_sol and will resume operations under the Jito Foundation’s ownership while maintaining full editorial independence. After announcing a wind-down in February 2026 following an exploit tied to our parent organization, we explored external financing and acquisition options. However, the team was unable to secure a viable path forward at the time, leaving a gap in independent coverage of onchain activity across the Solana ecosystem. Now, we can resume operations. While SolanaFloor will operate under Jito Foundation ownership, all editorial decisions including story selection, data presentation, and coverage priorities will remain fully independent of Jito Foundation’s activities, partnerships, and interests. The mission remains unchanged: documenting the ongoing rise of the Solana ecosystem and providing clear, unbiased research and journalism. It’s a critical time for the chain. Spot $SOL ETFs have crossed $1B in AUM. The ecosystem is gradually institutionalizing. New DeFi tools and integrations emerge every day. The need for independent Solana coverage has never been more apparent. “When SolanaFloor went dark, the ecosystem lost something difficult to replace,” said @brian_smith_0 , President of Jito Foundation. “This acquisition is about filling the gap with a platform that operates from a position of editorial independence. Jito has a long term stake in the health of the Solana ecosystem, and that means investing in the infrastructure and public goods that keeps the community informed.” Additional details on the relaunch -- including editorial structure, commercial offerings, and team updates -- will be shared soon.

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Brian
Brian@brian_smith_0·
When SolanaFloor went dark it felt like losing a local newspaper. You don't realize how much you relied on it until it's gone. Happy we could be part of bringing it back. Solana needs best-in-class coverage as it grows into a serious institutional market.
SolanaFloor@SolanaFloor

SolanaFloor is back. As of today, we are thrilled to announce that SolanaFloor has been acquired by @jito_sol and will resume operations under the Jito Foundation’s ownership while maintaining full editorial independence. After announcing a wind-down in February 2026 following an exploit tied to our parent organization, we explored external financing and acquisition options. However, the team was unable to secure a viable path forward at the time, leaving a gap in independent coverage of onchain activity across the Solana ecosystem. Now, we can resume operations. While SolanaFloor will operate under Jito Foundation ownership, all editorial decisions including story selection, data presentation, and coverage priorities will remain fully independent of Jito Foundation’s activities, partnerships, and interests. The mission remains unchanged: documenting the ongoing rise of the Solana ecosystem and providing clear, unbiased research and journalism. It’s a critical time for the chain. Spot $SOL ETFs have crossed $1B in AUM. The ecosystem is gradually institutionalizing. New DeFi tools and integrations emerge every day. The need for independent Solana coverage has never been more apparent. “When SolanaFloor went dark, the ecosystem lost something difficult to replace,” said @brian_smith_0 , President of Jito Foundation. “This acquisition is about filling the gap with a platform that operates from a position of editorial independence. Jito has a long term stake in the health of the Solana ecosystem, and that means investing in the infrastructure and public goods that keeps the community informed.” Additional details on the relaunch -- including editorial structure, commercial offerings, and team updates -- will be shared soon.

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SolanaFloor
SolanaFloor@SolanaFloor·
SolanaFloor is back. As of today, we are thrilled to announce that SolanaFloor has been acquired by @jito_sol and will resume operations under the Jito Foundation’s ownership while maintaining full editorial independence. After announcing a wind-down in February 2026 following an exploit tied to our parent organization, we explored external financing and acquisition options. However, the team was unable to secure a viable path forward at the time, leaving a gap in independent coverage of onchain activity across the Solana ecosystem. Now, we can resume operations. While SolanaFloor will operate under Jito Foundation ownership, all editorial decisions including story selection, data presentation, and coverage priorities will remain fully independent of Jito Foundation’s activities, partnerships, and interests. The mission remains unchanged: documenting the ongoing rise of the Solana ecosystem and providing clear, unbiased research and journalism. It’s a critical time for the chain. Spot $SOL ETFs have crossed $1B in AUM. The ecosystem is gradually institutionalizing. New DeFi tools and integrations emerge every day. The need for independent Solana coverage has never been more apparent. “When SolanaFloor went dark, the ecosystem lost something difficult to replace,” said @brian_smith_0 , President of Jito Foundation. “This acquisition is about filling the gap with a platform that operates from a position of editorial independence. Jito has a long term stake in the health of the Solana ecosystem, and that means investing in the infrastructure and public goods that keeps the community informed.” Additional details on the relaunch -- including editorial structure, commercial offerings, and team updates -- will be shared soon.
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moon shiesty
moon shiesty@moonshiesty·
volumes on @solana are routed to the AMM and propAMM with the "best" instantaneous quote. however maintaining the best quote exposes liquidity providers to risk from stale quotes, arbitragers and informed traders the strategy several prop AMM have converged on is creating artificial volatility to flash "best" quotes to routers to increase their share of order flow the chart below shows higher volatility correlates with a higher share of @JupiterExchange volume
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