Kent
716 posts
#14 in txn fees burned in just a few days after 10x'ing gas! Looking forward to further growth with new products & markets with @DecibelTrade & @shelbyserves mainnet.
Earlier today, a user attempted to buy AAVE using $50M USDT through the Aave interface. Given the unusually large size of the single order, the Aave interface, like most trading interfaces, warned the user about extraordinary slippage and required confirmation via a checkbox. The user confirmed the warning on their mobile device and proceeded with the swap, accepting the high slippage, which ultimately resulted in receiving only 324 AAVE in return. The transaction could not be moved forward without the user explicitly accepting the risk through the confirmation checkbox. The CoW Swap routers functioned as intended, and the integration followed standard industry practices. However, while the user was able to proceed with the swap, the final outcome was clearly far from optimal. Events like this do occur in DeFi, but the scale of this transaction was significantly larger than what is typically seen in the space. We sympathize with the user and will try to make a contact with the user and we will return $600K in fees collected from the transaction. The key takeaway is that while DeFi should remain open and permissionless, allowing users to perform transactions freely, there are additional guardrails the industry can build to better protect users. Our team will be investigating ways to improve these safeguards going forward.
My conversation with @SashaSpiegelman. Sasha has spent years pushing the boundaries of distributed systems and is the Head of Research at Aptos. We spend a lot of time understanding the technical breakthroughs enabling Aptos's new Global Trading Engine. At the center of it is a belief that high-throughput, low-latency execution layers are the ultimate endgame for onchain trading and global finance. You will find few people who think as deeply about the relationship between consensus design, geographic fairness, and decentralization. We discuss: - How Velociraptor consensus pushes block times under 50ms - Zaptos and the path to optimal end-to-end finality - Proxy primary architecture and solving global inclusion latency - Prefix consensus and the multi-leader approach to censorship resistance - Why encrypted mempools are the future of MEV protection - Decibel and building a fully on-chain order book DEX Enjoy! Timestamps: 0:00 Intro & The Global Trading Engine 2:59 Why Trading is the Ultimate Crypto Use Case 9:14 Velociraptor Consensus & Sub-50ms Block Times 14:30 Zaptos & Shrinking End-to-End Finality 18:03 Proxy Primary Architecture 23:20 Prefix Consensus & Multi-Leader Designs 32:29 Encrypted Mempools & MEV Protection 34:44 Decibel: The On-Chain Order Book DEX 41:58 AI, Claude, and the Future of Move Smart Contracts
The next great exchange was always going to be onchain. For over a decade, traders have been forced to choose: the speed of a CEX or the transparency of a DEX. Never both. Traders deserved better. We built better. Decibel is LIVE! Welcome to the new sound of trading 🔊
The next great exchange was always going to be onchain. For over a decade, traders have been forced to choose: the speed of a CEX or the transparency of a DEX. Never both. Traders deserved better. We built better. Decibel is LIVE! Welcome to the new sound of trading 🔊
