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Gentlemen Gerald
250 posts
I once wrote a dex integration for a dex agg (pre AI) and it was literally the hardest thing in crypto I ever coded
unbanksy (amm/acc)@unbanksyETH
Launching a DEX is a pain in the ass. Would not recommend. The hardest part is not even the bonding curves; it's coordinating the integration with indexers and routers. Those teams are insanely busy, get requests all the time, and we're asking them to re-imagine what a DEX and an AMM is to work with us. That said, happy to announce that @BaselineMarkets is in final stages of integration with @KyberNetwork, @okx dex, @0xProject and @coingecko @GeckoTerminal @dexscreener @DefiLlama Having this in place ensures that every token launched on Baseline will get optimal routing across 50+ trading venues. We'll be announcing our first launch partner next week. Get ready.
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@unbanksyETH You can launch on top of @EkuboProtocol which is ownerless and already has all of the aggregator integrations
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Launching a DEX is a pain in the ass. Would not recommend.
The hardest part is not even the bonding curves; it's coordinating the integration with indexers and routers.
Those teams are insanely busy, get requests all the time, and we're asking them to re-imagine what a DEX and an AMM is to work with us.
That said, happy to announce that @BaselineMarkets is in final stages of integration with @KyberNetwork, @okx dex, @0xProject and @coingecko @GeckoTerminal @dexscreener @DefiLlama
Having this in place ensures that every token launched on Baseline will get optimal routing across 50+ trading venues.
We'll be announcing our first launch partner next week. Get ready.
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@letsgetonchain The protection is assured? I figured it was their good will
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@permaOx yes it does this happens every time ETH borrow rates spike.
if i loop myself as a user I would have suffered those.
fluit eth lite offers me protection against those. think of it as a junior protection mechanism that takes first loss
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for those that have NOT sold the last of their ETH
Fluid Lite ETH vault is the best risk adjusted ETH yield I can find:
100 ETH deposited since inception -> 121 ETH today
100 ETH staked with Lido same period -> 111 ETH today
- runs a simple leveraged LST strategy across Spark, Aave and Fluid (all platforms run on LST share price not secondary markets, temporary depegs are not a risk for liquidation)
- longest track record of any such strategy I could find
- has covered any losses that incurred during market volatility that pushed ETH borrow rates above LST yield
- Zero days of negative yield since launch (Feb 2023)
- 53 days of paused withdrawals out of 1,194 days live
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@JasonvuTech I agree that evaluating LP performance in $ terms is the way to go but your article (starting with the title) is confusing at best
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How the hell you guys are so serious about IL term in this article?
For me, IL is the discrepancy between Buy & Hold 2 tokens in wallet vs. lping. That's all!
You cannot apply IL term to single-side USDC strategy. It's similar to trading spot. When you swap USDC to ETH, then ETH goes down. You don't say it's IL, right?
So, take it easy. IL or not IL is not the point. The point is the strategy can earn money for you consistently or not.
jasonvu.tech (🦇🔈 ,💧,🐻⛓️)@JasonvuTech
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Over the last 2 years, I've transitioned most of my SpaceX position to Anduril. Let's see if that was a big-brain move or not.
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Gentlemen Gerald retweetledi
I investigated Fluid's activity in cleaning up the Resolve depeg from March 22 that left Fluid with $21m in bad debt.
I found that $8m that was supposed to come from the treasury instead came from an uncollateralized credit line through the Fluid Team Multisig.
🧵👇
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@trenchobserver @sendmoodz @griffgreen @thedaofund @EkuboProtocol How about “Next round starts at x and we can help you submit a good application” instead of blocking
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@sendmoodz @griffgreen @thedaofund @EkuboProtocol i mean the round had closed and he told you that. you were asking for an exception. if he grants that, and someone else also wants one, how is he supposed to deal with that?
it sounds like you're just being a baby :/
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We reached out to @griffgreen from @thedaofund to seek funding for making token approvals safer with ERC-8255. We intended to direct 100% of any funding towards victims of the recent @EkuboProtocol exploit.
It looks like we will not be receiving any support--not even inclusion in current or future quantitative funding rounds. It appears @thedaofund is not focused on solving real security problems under leadership of @griffgreen. The entire conversation is attached.
We will still be pushing to get ERC-8255 as widely adopted as possible. However, I have no faith in @thedaofund's ability to distribute funds faithfully according to their mission. Token approvals are even mentioned specifically in Ethereum Foundation's Trillion Dollar Security initiative: ethereum.org/trillion-dolla…
If you wish to donate to the development and adoption of this ERC, you can send any tokens or ETH to erc8255.eth. Any funds received will be directed towards reimbursing victims of the recent @EkuboProtocol exploit.
Read the ERC here: eips.ethereum.org/EIPS/eip-8255
Check out our draft implementations:
• OZ: github.com/OpenZeppelin/o…
• Solady: github.com/Vectorized/sol…
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🚨JUST IN:
Seems like @EkuboProtocol extension contract is under attack.
~$1.4M drained so far.
Users who approved the affected v2 contract should revoke approvals immediately via revoke.cash.
Root cause appears to be missing payer validation in callbacks.
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@rootslashbin Dai was trading as high as 1.10 back in 2020
Fully decentralized backed stables can’t scale (rai, lusd, bold, etc)
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@BarterDeFi @0xNairolf Sorry but how is Superposition not the worst case of liquidity fragmentation?
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@0xNairolf Uni v4 and its hooks broke composability and made liquidity fragmentation in DeFi even worse. New hooks simply don't see order flow unless solvers, routers, and aggregators plug into them directly
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@guil_lambert @letsgetonchain Using a different tick spacing has negligible impact on LP profitability
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@letsgetonchain The 1bps pool on Uni v3 is the only pool that breaks the 2:1 tickSpacing-to-fee relationship.
This means a LP position gets paid twice as much in fees than any of the other 2:1 pools for the same single-tick price move.
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Interesting, positive markouts on for passive LPing on the uni v3 0.01% pool.
The below uses binance ETH/USDC spot as ref price.
Running this pool agains Dune's CEX aggregate price index also shows positive markouts.
DEXHQ@LpDexhq
1bp ETH/USDC on Uniswap v3 runs positive 1 year cumulative markouts. Why? Best theory wins.
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@LpDexhq I have yet to learn one useful thing from all markout analysis posts. They always conclude that LPs lose money and that 0.01% pools lose the least amount. Neither is true in practice.
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@permaOx they might not be for a specific price path but the theory goes that in to predict LPing profitablity expectation they are useful.
good thread on it here
x.com/0x94305/status…
Alex Nezlobin@0x94305
Finally, look at the 12-second markout PnLs. These PnLs show that we consistently lost money on all paths (remember that we only modeled arb flows!). This would be a useful pnl if we indeed hedged 12 seconds after every transaction. But is it of any use to passive LPs? 6/
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sure ok Hayden but show us the markouts
Hayden Adams 🦄@haydenzadams
Passive LPing is pretty fun When v3 deployed on Optimism 4 yrs ago I made a concentrated position on eth/dai from 1400-3200 I've never rebalanced, it was out of range ~30% of the time It earned $5400 in LP fees on $4700 position size so far
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this is obviously in jest, pros like @haydenzadams know that markouts are nonsense, mean reversion is your target with the passive LP game.
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@newmichwill Many will also want to move to arbitrum because of this
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Mhm. Right thing to do if they CAN.
But also many will probably re-evaluate whether using Arbitrum is safe after this. Also IF they CAN freeze anyone - hard to argue that some TradFi regulations are not applicable to the chain itself. It is not neutral infrastructure
Arbitrum@arbitrum
The Arbitrum Security Council has taken emergency action to freeze the 30,766 ETH being held in the address on Arbitrum One that is connected to the KelpDAO exploit. The Security Council acted with input from law enforcement as to the exploiter’s identity, and, at all times, weighed its commitment to the security and integrity of the Arbitrum community without impacting any Arbitrum users or applications. After significant technical diligence and deliberation, the Security Council identified and executed a technical approach to move funds to safety without affecting any other chain state or Arbitrum users. As of April 20 11:26pm ET the funds have been successfully transferred to an intermediary frozen wallet. They are no longer accessible to the address that originally held the funds, and can only be moved by further action by Arbitrum governance, which will be coordinated with relevant parties.
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getting fast and maintaining it is so much harder than people think
I've ran 103/103 days this year @ 72 mi/week w/ proper recovery, eating, and speedwork and still lost fitness
have slowly been getting it back, but I'm also "reset" back to ~2024 fitness rn
Marcus Milione@MarcusMilione
239 days later and I think this will be the final update Got to race for the first time in a long time. Cherry Blossom 10 mile in 59:37 It is wild to still feel like my fitness has been factory reset. It's like im always about 70% of where I used to be. Training but simultaneously feeling like I cannot make progress. I hope one day it gets back to normal... running almost 3 minutes slower than 2024 is incredibly frustrating but we press on
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Protocols that make their users money will be the protocols that succeed.
TEU@0x_TEU
@naruto11eth I provide liquidity on @EkuboProtocol , live off the fees I earn.
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@arabianhorses0 @Uniswap feeProtocol 68 means protocol fees are 25% on this pair. If an LP claims $75 in fees it means the position generated $100 total fees (+33%)
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I built a replay engine for computing @Uniswap's lp fees with high precision, I made many checks and tests always calculated fee amount is higher than 33% of the real values what does it mean ?
maybe my computations are wrong or
feeProtocol (uint8) : 68
unlocked (bool) : true
?
anyone aware of this ?
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