Whitepaper Reading Club

3/3 Thanks again to: @BrianSeong: A co-founder of WPRC, and helped hosted many events and discussions ranging from cryptography research to exchange products built on TEEs. A fearless builder and world traverller. @Elliot0x: One of the most technical people in the space with real world experience securing projects across attack vectors. @Ferno_ag: Appreciate you helping pull this together and offering this this beautiful space. @Kimmi_Unni (@SuperteamSG) for connecting everyone and for making this happen! WPRC keeps expanding — Singapore, KL, Bangkok, NYC, Lagos, and now sessions at global events. More to come.

2/3 Discussion Notes: Discussion 1: 🔐 K&R Insurance for Crypto Executives Lead by @Elliot0x (@KleidiWallet) + Insurers now treat follower counts, on-chain addresses, and event attendance as material risks. + Geographic exposure weighs more than policy limits. Family members are a parallel attack vector. + Mitigations that actually move premiums: custody architecture, low digital visibility, panic buttons, real-time tracking opt-in. +Policies bundle hostage negotiators — independent ones run ~$4k/day, top firms $25-100k/day. + France's self-defense legal framework as a real concern. Actuarial data is thin — crypto kidnappings remain a small sample, making accurate pricing difficult. Print: docs.google.com/document/d/1xF… Discussion 2: Blockchain Privacy Landscape — 2026 Survey lead by @BrianSeong of (@0xMiden) + Privacy has moved from "hide everything" to "program what's visible." + The space has split into three lanes: (1) Private Money (Monero, Zcash) — transaction-layer privacy (2) Privacy Middleware (RAILGUN, Hinkal) — privacy on public chains (3) Programmable Privacy (Miden, Aztec, Aleo, Midnight, Canton) — privacy as application logic + Key tension: privacy vs. verifiability. Every system now ships with operator layers (guardians, relayers, provers) — the trust model is shifting from protocol to infrastructure. + No single winner. These systems will coexist, each optimized for different tradeoffs. Print: docs.google.com/document/d/1oD…

1/3 WPRC Cannes 🇫🇷 — March 31st recap 🔐 K&R Insurance for Crypto Executives by @Elliot0x (@KleidiWallet) How insurers are pricing physical risk for crypto executives — the scoring methodology, what drives premiums, and what mitigations actually matter. [Summary]: x.com/WPReadingClub/… 📄 Blockchain Privacy Landscape — 2026 Survey by @BrianSeong (@0xMiden) A full survey of how privacy architecture has evolved from hiding transactions to programming visibility across three distinct system categories. [Summary] x.com/WPReadingClub/… Big thanks to the captains at @Ferno_ag & @Kimmi_Unni for making this one happen in Cannes Summaries Below 👇

@amidoggy_xyz @xuedao_tw @moven0831 @gogo_allen15 @Slutsky___ @0xlouistsai 欢迎 ：）

@xuedao_tw @WPReadingClub @moven0831 @gogo_allen15 @Slutsky___ @0xlouistsai 熊市讀書

@WPReadingClub is coming to 🇹🇼 for the first time! We're bringing Whitepaper reading experience from Singapore, and we've got WPRC's host flying in to moderate in person 🔥 🧠 Topic: Agentic Finance: Will AI use Crypto or Card Networks as Rails? 📅 Date: May 2, 18:00–21:30 👉 Sign up: luma.com/4r69fdnh Spots are limited — grab yours before it fills up! #XueDAO #WhitePaperReadingClub #Web3 #Taiwan #DeFi #AgenticFinance #x402 #CryptoTaiwan #AI #Blockchain

@gogo_allen15 @amidoggy_xyz @xuedao_tw @moven0831 @Slutsky___ @0xlouistsai 熊市，是一个心里状态 ：）

@amidoggy_xyz @xuedao_tw @WPReadingClub @moven0831 @Slutsky___ @0xlouistsai 熊市什麼時候結束

@eden_ @jack We'll do a Whitepaper Reading at your event :)

Saying I do's with @jack next Spring 2027.

🔮 Whitepaper Reading Club @ EthCC High-net-worth crypto holders getting kidnapped for their private keys? It’s no longer a fringe story — it’s happening more than you think as on-chain wealth explodes. Privacy tech is in a full regulatory arms race, while Solana is redefining capital markets with millisecond execution control. This EthCC, we’re going deep on three critical frontiers: → Physical Security for crypto natives (K&R insurance, bodyguards, opsec & panic buttons) → Privacy evolution: @monero, @Zcash, @RAILGUN_Project, @hinkal_protocol vs programmable privacy ( @0xMiden, @AleoHQ, @aztecnetwork, @MidnightNtwrk, @CantonNetwork) — real tradeoffs in ZK, compliance & performance → Internet Capital Markets: @Solana’s ACE roadmap + Constellation for the most liquid on-chain markets ever Signature format: 10 mins silent reading → raw technical discussion (no panels, questions encouraged). 📍 Cannes (exact venue after approval) 🕒 1:00 PM - 4:00 PM 🔗 RSVP: luma.com/9e0dadhz Led by @BrianSeong (WPRC) & @Elliot0x (Kleidi) See you there 👊

@Dr_DAO_ @BrianSeong @Google That would be amazing @Dr_DAO_ ! @BrianSeong - what do you think :) Would be an honor!

@BrianSeong @WPReadingClub @Google Lmk if you want to co host a reading group on this!

.@Google just dropped a 20x more efficient Shor's algorithm, ~500K physical qubits to break ECDSA in minutes. They didn't even publish the circuit btw. They published a ZKP proving they know it. That's a cool use of zk proofs. Most chains still run on ECDSA. Your wallets, bridges, multisigs, rollup verifiers -- sitting on math with an expiration date now. I don't think people have really processed what migration actually looks like for an L1. @0xMiden runs on STARKs. Hash based, no elliptic curves anywhere on the protocol leve. 2029 sounds far until you remember how long it takes to migrate an L1 🫡🫡

@jolimmmm Honor to have you and thanks again - hopefully more discussions to come! You handled questions/discussions better than many people that I've met :)

thanks for having me @WPReadingClub great session, really enjoyed this one as every point sparked a debate. strong turnout, and the crowd was mostly non-crypto, which to me is the signal.

@mrlightsui @jolimmmm Thanks! Just trying to figure out the future :)

@jolimmmm @WPReadingClub Thank you for your take on prediction Market

3/3 To everyone joining us for the first time last Friday — welcome to WPRC KL 🙏 It's only great when we have amazing people join. Han: Amazing to meet you (ai stuff in the future), KSK (EthKL), Marvin (Market Maker), A KL Lawyer, Students from Saudi Arabia and India and Germany and many more! (Will tag people below are we find your twitter lol) Once again - thank you! @jolimmmm (co-founder, Tide) for leading the discussion. @0xYudhishthra and @shuenrui - you're the reason KL keeps showing up. The consistency, the energy - none of this happens without you guys And to @AWS and the people that helped secure the space. — Whitepaper Reading Club is a multi-city research community for builders, founders and curious minds who want to go deep on a topic. We're in Singapore, KL, Bangkok, NYC, and Lagos - reading the papers that may shape our world. Next session incoming :) Event link: lu.ma/3p0ysrm8

2/3: What we learned: - The original flaw: in LMSR, the "depth" of the market is set once at launch and never changes. Whether $100 or $1M has been traded, each new bet moves the price by the same fixed amount. The market is blind to how popular it's become. - The other flaw: because all prices must add up to exactly $1, the operator is structurally guaranteed to lose money over time. This is bad for sustainable business. - LS-LMSR's fix: make depth grow with trading volume. The busier the market gets, the harder it becomes to move the price. Early bets swing odds a lot — that's price discovery. Later bets barely move anything — that's stability. It self-tunes. - Instead of guessing future volume (impossible), you just set your commission rate — called α. The math handles the rest. It's a business decision, not a forecast. - The cost: prices no longer sum to exactly $1 - they sum to ~$1.03. That small gap is the operator's take. Prices become estimates rather than perfect probabilities. - Polymarket moving to 1.8% fees was survival, not greed. Sustainable markets need sustainable operators. About 20% of those fees flow back to market makers to keep liquidity alive. - If AI agents all read the same data and bet the same, operators face one-sided markets and losses. Diverse human opinion is ironically a stabilizer. - These markets aren't just gambling. During the US election cycle, Polymarket data was cited by analysts and newsrooms as a more real-time signal than any poll. Real money = honest signals.

1/3 🇲🇾 WPRC KL [08] was a deep dive on prediction markets - looking into the plumbing: market structure, liquidity design, fees, and how resolution actually works. Thank you to @jolimmmm (co-founder of @TideMarkets, ex-Citi trader) who lead the discussion and fielded some crazy questions! Thank you to @0xYudhishthra and @shuenrui of WPRC-KL for running Whitepaper Reading KL for over a year, and for organizing such an incredible discussion! Topic Summary: (1) prediction markets are an engineering stack. (2) Microstructure + incentives + transparency + resolution = whether a market scales, (4) stays fair, and produces usable “signals.” Discussion Notes: (1) Order book vs AMM tradeoffs (liquidity + startup cost vs long-tail scalability) (2) Fees + maker incentives as “market quality levers” (3) Dynamic liquidity/alpha for better price control + operator sustainability (4) Onchain transparency vs MEV/manipulation realities Summary: docs.google.com/document/d/1CH… Detailed Notes 👇

spending saturday with @WPReadingClub KL dissecting how Prediction Market actually works under the hood. . . . Looks who on the screen 👀 @Predictefy