maxlomu 🤌

@ProffEtherPrint Dude relax… it’s only been one week since RH Chain went live. They haven’t proven anything yet just that they can attract meme speculators at launch. The difficult part starts now to retain that crowd and attract long term sustainable activity

Don't Be Like Coinbase > August 2023: Launches Base early and captures massive retail momentum, securing a dominant head start in the Ethereum L2 value capture race > 2024–2025: Brian Armstrong hesitates to fully back the ecosystem due to Bitcoin Maximalist tendencies, diluting focus and constantly shifting directions, appeasing to a crowd who will never transact on what they've built > February 2026: Seeing the opportunity, Robinhood capitalizes on Coinbase’s fumble and launches the public testnet for its own institutional grade Arbitrum Orbit L2. > July 2026: Robinhood Chain hits public mainnet, instantly driving over $877 million in 24-hour DEX volume and crushing Base's numbers by treating ETH like pure money. Coinbase had the headstart, in action, but not in conviction Robinhood had the stronger conviction and action followed slightly after, but pushed the new product out harder leaning more into the Ethereum ecosystem and community and values and is now reaping the rewards

One of the things we've learned from our Robinhood Chain mainnet launch is that ecosystems can grow incredibly quickly when there is exceptional engineering behind them Huge credit to the Robinhood engineering team, and congrats to our friends and partners @arbitrum.

@kaereste Last occasion IMO to prove the DAO can achieve meaningful speed. If by the end of this cycle we still see the slow pace and limited results of the last period, it’s worth revisiting the whole concept and whether we should just hand everything to OCL and the Foundation

ArbitrumDAO is having an election for the OAT Council, and I think it deserves more attention than it has received so far. So I want to share a few personal thoughts on the matter. A disclaimer: these are my personal views only. We have not yet discussed in the governance team how we will vote. Why is this election important? For two reasons. 1. this committee is, in practice, overseeing and driving not only OpCo, but also many cross-ecosystem initiatives, and 2. it is the last avenue in ArbitrumDAO where tokenholders, via delegates, can directly express their views on how they want the DAO to evolve. As a long-time ArbitrumDAO community member, I want to use this opportunity to share my own view. The tl;dr is that while I believe the overall direction is correct and promising, I am disappointed with the execution style and performance, and I am concerned about the state of the DAO today. At the same time, I am still hopeful. I believe the future can be bright, but some things need to change. First, I want to say that I have huge respect for last year’s committee members. I believe they are highly competent individuals, and I stand by our election votes from last year. But this year, I would not vote for the same people. Not because I don’t believe they are individually suited for the role. But last year proved, in my opinion, that collectively, the OAT did not work as (at least I) expected. Instead of becoming more than the sum of its individual parts, it became something like the safest common denominator. The result was that the OAT and the broader DAO significantly disappointed and underperformed. I will repeat, though, that I still believe in the overall vision formulated at the beginning of last year, when OpCo and the OAT were formed. I personally supported it, and I still believe it is the right path. But I also have to honestly admit that many of the risks and dangers raised by critics back then materialized, while many of the benefits and advantages I was looking for did not. One of the features of having an OAT is that when results are disappointing, there is someone to point to and a clear place to call for change. I’m not necessarily saying that the current developments are bad, although I do have concerns here and there. I am much more concerned about the things that are not happening, and about the pace of development. Anyone who reads the proposals and related forum commentary from last year will see that the DAO, OpCo, and the OAT are nowhere near where they were supposed to be. By my personal expectations, maybe 20% was delivered, and most opportunities were missed. Some things have not been delivered at all. Many pivots may have been justified, but they were never approved by, or even consulted with, the DAO. The DAO itself became stale and almost completely inactive, to some extent by design and on purpose. Not to mention that the token price is far from tokenholders’ expectations. The overall market can be used as an excuse, but I would say that it is just that: an excuse. I don’t see the DAO doing anything meaningful to counter that trend. On the contrary, I see an entity vs. tokenholder conflict, similar to what we have seen in Uniswap, Aave, and ENS, looming on the horizon. The OAT/AAE vision promised better governance. So far, it has delivered governance in a coma. ArbitrumDAO used to be known for a great community and a welcoming DeFi ecosystem. A place to experiment, push boundaries, and bend reality. ArbitrumDAO used to experiment with ways to support builders. ArbitrumDAO created an RWA investment program (STEP) which attracted major financial institutions and supports Arbitrum’s budget today. ArbitrumDAO created a real investment fund. ArbitrumDAO funded incentive programs that attracted 100+ DeFi projects. Last but not least, ArbitrumDAO created OpCo, the OAT, and the rest of the foundations for what we have today. Of course, not everything the DAO did in the past was great. The changes we introduced were introduced for a reason. But I feel the pendulum swung way too far in the other direction. I probably don’t have a complete enough overview, but my impression is that over the past year, ArbitrumDAO has not produced anything materially significant. There is barely any meaningful discussion happening either. And it’s not as if the current state of affairs is clearly better than what we had before. I like some of the new things, but I miss too many of the things that are now gone. Most importantly, we no longer have any real DAO oversight or control. There are no meaningful feedback loops, just back-scratching and institutional inertia. ArbitrumDAO used to be Pied Piper. Now it feels like Dunder Mifflin Paper Company, the one just before the merger with Sabre. So what would I like to change? Def not everything. The overall direction set by the previous OAT should be maintained, but executed better. I want to go back to the original spirit of governance advancement. Creating meaningful governance, not waiting for it to magically appear out of nowhere, and definitely not restraining it (inb4 later complain that governance is not working and should be removed). More communication, more openness to new ideas, less reliance on single vision-drivers. I want Arbitrum to strive to become a business greater than its creators, not the other way around. Working constructively with other entities, but as equals, not subordinates. But most importantly, I want DAO delegates to discuss this, state their views, and actively engage. Top delegates will choose the committee that will drive ArbitrumDAO’s future. I hope each of them does their research, formulates their expectations, and votes with confidence that they are choosing the people most aligned with those expectations. Not just going with the default to get it off their plate. I’m pretty sure Arbitrum will be okay no matter how the election settles, but DAO delegates should strive for it to be great, not just okay. Finally, I want to address the inevitable comments that I am criticizing and calling for change only because I have been sidelined and am not as actively involved as I used to be. These are fair arguments. And I won’t lie, I do miss, a bit, the times when I spent whole days on DAO-related calls. But I am genuinely fine doing what I am doing now. I have more ideas in my head than I will ever be able to tackle, and I am perfectly fine with others pushing the cart today. I just want the cart to go in the right direction. ArbitrumDAO’s fate is important for the future of DAOs, and Arbitrum’s fate is important for the future of crypto. I want both of those futures to be bright. P.S.: Of course, the fact that I'm writing this here on X instead of the forum is a statement in itself, IYKYK.

@furan86999 💯

@maxlomu Infra got too much love early on. Real usage is shifting that.

Fat protocol viral thesis maybe did more harm than good

@sebaudet26 End of an era, really thankful for what you guys built over the years. What would you say was the biggest expectation not met?

With all the drama around the @ensdomains and @Aave DAOs, I still remember how fun it was to organize & attend those roundtables. There was this mindset of “things are messy now, but we’ll make it work with our principles” that would feel so refreshing for the space today.

It’s great to see how bridging has evolved in the industry from a b2c tool into a key piace of infra for fintechs. Kudos to Rhino, they were a late player in the market but found traction with neobanks and accounts set up.

@theInterfold @Uniswap 🚀

FOLD auction week begins. Eligible participants can now register, verify, and prepare bids ahead of the $FOLD auction. The auction begins Wednesday, July 8 at 10am ET / 14:00 UTC on @Uniswap. Official link below.

@M1ttelmeer @33b345 what 😂

@33b345 euro summer sounds elite until u realize its just 3 weeks of sun and then back to the grey

it’s pretty crazy how wide the difference is between euro summer and summer everywhere else

@ImperiumPaper Yeah I agree

@maxlomu I mean, it’s brand new so fair to see it as introductory. The rate at the kinks is like 2.5% though. That’ll have to migrate higher

1.7% intrinsic APY is so funny… Tbills, Sky, they all can provide better yield

@furan86999 Probably I’m asking too simple things, but can imagine what he would overbuild for complex stuff

@maxlomu 确实，复杂到有点劝退了。

My feedback on Fable 5: it hover complicates things unnecessarily. Anybody else feeling the same?

Very interesting new data primitive coming onchain and on @arbitrum Explosion of people buying diapers -> long $PG Need eggs in your business? Hedge the price Curious to see how deep it will go. B2B txs, cloud service demand… This will be fun

Amazing works by DeFillama and Yearn teams giving out tools to map and understand the risk and exposure of vaults. little bit less black boxes now

One takeaway from @dberenzon latest RWA report really stood out to us: The projects that succeed won't be the ones that tokenize assets; they'll be the ones that build the operational, legal, and reporting infrastructure around them. That's been our approach since day one. It's great to see Fractalized included in the 2026 RWA ecosystem landscape. The full report is well worth a read: archetype.fund/media/rwas-the…

The infinite machine in motion 🔥

Got it - although to be really permissionlessly committed the capital will have to remain in liquid assets… Which has a cost opportunity. So you don’t dilute the protocol yield but the investors still need to keep their assets “underperforming”. Anyway, excited to see what you guys will ship!

@maxlomu @3janexyz Yes but in doing so they incur significant cash drag into the yield-bearing asset, where a significant portion of capital is earning tbill rate Committed capital is fundamentally different - the funds stay with the defi user and are only called when deployment needs to happen

1/ Capital calls are a core primitive across the $15tn+ private markets industry, enabling funds to scale deployments without cash drag @3janexyz has been building a cryptonative analog for USD3, combining high capital efficiency, funding certainty, and DeFi-scale distribution