might 〰️

@Sellingvol casino barrière side event, have you ever heard of it ?

What are some of the best side events at ethCC? And how do we get in?

@Uniswap brought spot trading onchain. @HyperliquidX led the perpetuals narrative. Decentralized options infrastructure is the missing derivatives vertical, and @derivexyz sits at the front row. I've seen many targeting $1 for $DRV. Here is an actual valuation framework and a conservative path to the billion dollar valuation.

I floated a very similar idea to Optimism and Arbitrum a few months ago. It’s exciting to see someone step in to address this need to make RWAs safer to carry trade. I never wish for bad luck, but will be waiting to see how it handles a stress test in the wild. Great minds thing alike!

p2p team has accepted they’re participating in their own pm sale market found a single multisig wallet that deposited $3m into the sale, that’s more than 65% of total commits another ~$500k deposit (2wND....QdWs) shares the same coinbase hot wallet interaction with that multisig, so likely same entity so that puts their own commits around $3.5m while total sale commits are ~$4.8m team probably has some sort of deal with them also other top depositors were holding META token, so if you strip it all out there’s barely any organic demand lol icos are cooked now, if you see more than a million in deposits there’s probably something shady going on lol (most of the time)

The largest Bitcoin miner balance sheet is now a distressed seller after liquidating over $1B of its Bitcoin at ~$72,000 after making purchases 30-40% higher above $90,000 per BTC. This is just the beginning of a major unwind across the sector.

No Way... $META

The Scam in Plain Numbers: At quote time, PropAMMs offer prices 1.3 bps better than Pyth oracle fair value. Raydium quotes at 0.0 bps — dead fair. Jupiter sees the PropAMM quote is best and routes to it. At execution time, the actual fill lands 10.1 bps worse than what Raydium would have given for the same hop. We've confirmed this pattern across multiple PropAMM providers. The net extraction: they quote +1.3 bps to win the route, then execute at −10 bps. That's ~11 bps of invisible spread between what they promised and what they delivered — on the USDC→SOL leg alone. How It Works Mechanically: They quote a price they have no intention of honoring. As JIT liquidity providers, they don't hold inventory in the pool. When your transaction hits the chain, they provide just-in-time liquidity at a worse rate than quoted. Your slippage tolerance (3 bps in our case) gives them room to fill below the quote, and since Jupiter already committed to the route at quote time, the trade goes through regardless. The Tell: In the transactions we dissected, hop-level data made it clear: 11,111,990 lamports received versus 11,123,249 that Raydium would have given. That's roughly $0.001 per $1 swapped — every single time, across millions in daily volume. This isn't one bad actor; it's a pattern we've observed across several PropAMM pools on Jupiter.

We used to celebrate doing 2% of global silver volume. Now tradexyz does 2% of global crude volume. Dare to dream. Hyperliquid.

This is my Quant

wow google might've popped the ai bubble, memory stocks down massively today: their new algorithm shrinks an AI model's memory by 6X WITHOUT reducing it's intelligence making it 8x faster with the SAME # of GPUs: if this works - we don't need as many GPUs to train AI - kv-cache is basically a model's short term memory. it gets massive pretty quickly = larger, slower, expensive ai - google's algo compresses it to just 3-bits with ZERO loss in accuracy (usually models are like 32-bit) the combined market cap of micron and sandisk is $527 billion and im not even factoring in SK hynix and samsung ai has driven up memory prices by 500%+ over the last few months - if google's algo scales then this might crash.

🚨 Important update on our Resolv (USR) hack analysis. Contrary to what many observers reported, the attacker didn't exploit Morpho's Public Allocator to amplify the damage. ▶️ They used a much more sophisticated technique: a Donation Attack. Here's how it works. When a Morpho market runs on an oracle that prices an asset significantly above its real market value (like USR hardcoded at $1 while trading at $0.025), it's possible to force an increase in the shares held by a vault in that market via a "donation." This is done through Morpho's supply() function, which accepts an onBehalf parameter. Anyone can call it while designating a vault's address as the beneficiary of the deposit, crediting market shares to that vault without it ever asking for it. What's wild is that this vulnerability was documented in plain sight in Morpho's official docs. It even explicitly states that "setting supply caps to zero" won't protect against this attack, which is exactly what curators did as their first line of defense. The attacker's goal was simple: get into the wstUSR/USDC market on Morpho, the only place where they could dump their wstUSR as collateral and borrow USDC against it. ▶️ The problem was that the market had no liquidity left. But the Donation Attack fixed that. By flash loaning USDC directly from Morpho and calling supply(onBehalf), the attacker forced third-party vaults to involuntarily increase their exposure to the wstUSR/USDC market, injecting exactly the liquidity they needed. The bigger their share of the targeted vault, the more liquidity they could push in. That's why the flash loan mattered. Once the USDC were there, they dropped their wstUSR (fictitiously priced at $1) as collateral, borrowed the freshly injected USDC, repaid the flash loan, and walked away with the difference. Our full analysis is live on OAK Research 👇

Still see the very problem of curation markets is that typically there are two ways to compete: lower your fees on commoditized strategies (which is race to the bottom) or take more risk. Most of the recent issues with curation vaults have been related to the latter.

We waited the whole weekend for this?

@circle @FastCompany How come Circle froze the USDC balance of 16 unrelated hot wallets late yesterday for a civil case? A basic review of onchain activity makes it obvious they are operational wallets. You fail to protect users during actual incidents yet respond to a request riddled with errors…

Defi - Earn 1% below t bills and lose all of your money 1 time per year

MDRRRRRRRRRRRRRRRRRRRRRRR

$CRCL falls ~15% after the CLARITY Act deal signals no yield on stablecoin balances by allowing only activity-based rewards. That weakens a key part of the bull case by making USDC harder to evolve from a payments utility into a real store-of-value product.