Emin
346 posts


#shadowbook orderbook dex is now integrated with CDS Aggregator V2.
Swapping on CDS just got upgraded. 😊
@CardanoFeed @Cardano

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Emin รีทวีตแล้ว

There's a fear #Midnight might drain #Cardano’s liquidity — a "vampire attack" from within.
But economic laws are clear: Private markets require public price discovery to function.
Cardano isn't being replaced; it's being shielded. 🛡️
Full post 👇
github.com/fallen-icarus/…
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Emin รีทวีตแล้ว

Hey community, please help to report @DeltaDeFi now, the account has been compromised. we need your help...
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@dori_coin @JaromirTesar Those that do not comply should, after a governance decision, be restricted from certain official privileges.
Cardano is a decentralized intelligent organism, and it must be able to fight its parasites on its own; otherwise, those parasites will destroy the organism.
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@dori_coin @JaromirTesar Otherwise, these L2s should be considered parasites on the main L1.
L2s that do this could, via Intersect and through a governance vote, receive additional funding from the treasury.
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There is a battle for users in the blockchain industry.
They pay fees that are necessary to run the business, but above all, they should ensure the long-term economic sustainability of the ecosystem.
The foundation of the ecosystem is the blockchain. An extension of blockchain are dApps and L2s (with their apps).
All actors selfishly strive for their own profit, regardless of the long-term sustainability of the blockchain.
That is why fees on Ethereum are at an all-time low while L2 operators are getting rich.
Actors are selfish, and the rules of the ecosystem are set against L1.
In my opinion, this is one of the unacknowledged reasons why Vitalik decided to abandon the rollup-centric roadmap.
That is why there are debates about L2s parasitizing L1 because they take over users and liquidity.
An unwanted side effect is that users often use an essentially centralized service (a sequencer running on a single server, controlled by admin keys).
Another unwanted effect is that Ethereum slowly became just a database for storing L2 states or just a kind of gateway to the L2 world.
L2s were supposed to solve the scalability of Ethereum. This was successful, but with a crushing impact on Ethereum revenue.
For Cardano, a similar effect would be even more burdensome since it has a capped supply.
Let's explain the financial flows in the Cardano ecosystem that would have L2s. Economically, it would be very similar to the Ethereum ecosystem.
Warning: I would not like this to sound negative towards L2s. L2s will be needed for some use cases. It is smart to realize how the existence of L2s affects the revenue of L1.
In the image, you can see Cardano, L2, and 2 users (Alice and Bob) who enter L2 via the Cardano script. They generate 1000 transactions in L2. Then they exit L2.
SPOs must cover the costs of running Cardano nodes. These costs are high. Blockchain is expensive.
L2 operators also have to cover the costs of running servers, just like operators of applications deployed in L2. However, these costs are much lower. Often, it is enough to run a single server.
For Cardano, this roughly translates to:
▪️2 entering transactions
▪️2 exit transactions
If users paid 0.5 ADA for interacting with the script, Cardano’s revenue would be 2 ADA.
Users expect significantly lower fees in L2. Fees cannot be zero, because a) there are always costs associated with operating the network, and b) everyone wants a profit.
Therefore, users must pay fees in L2. How much is it?
Typical L2 transactions range from $0.001 - $0.01. However, sometimes users have to pay $0,20-0,30.
Swaps on DEXs can cost around $1.
If the fee for a Cardano L2 transaction was 0.01, Alice and Bob would pay $10 together (for 1000 TXs).
L2 would be more profitable than L1, while the costs of operating the blockchain are significantly higher.
Economically, it is enough for L2s to be cheaper than L1.
If the TX fee on L1 is $1, L2s can afford to charge $0.10. It is still 10x cheaper, but mostly unnecessarily expensive in the context of costs.
Fees on Arbitrum and Optimism were around $5 in 2022. Then they dropped to $0.20 - $0.30 in 2023 to reach $1 in 2024.
Currently, fees are around $0.02 on average. This may be due to higher competition, decreasing fees on L1, and lower user activity.
One of the naive ideas of some members of the Ethereum community was that L1 would be profitable when there were 10,000 L2s. The fragmentation of users and capital would be too high (if there were no seamless interoperability).
L2 operators and app teams will always try to maximize profit. Once they gain a strong user base, they can increase fees.
We saw it on Ethereum. There is no reason to think it would be any different on Cardano.
L1 may have another revenue source.
L2s can write states to L1. If L2 did this once every 10 minutes, it would be 144 TX per day. Cardano revenue would be roughly 30 ADA per day.
If I'm not mistaken, Midgard will write states to L1 while Hydra does not need this mechanism (consensus is underway among Hydra Head operators).
Cardano may have a revenue stream from the existence of L2s.
The question is how significant this revenue stream can be in the context of the revenue of L2s. That is, whether it is beneficial for Cardano L1 to have a rich L2 ecosystem or not.
It is necessary to take into account the indirect benefits for the Cardano ecosystem.
For example, if L2s deployed on Cardano succeed, it can increase the relevance of the entire ecosystem and attract new users.
From the perspective of long-term sustainability of Cardano, it is advantageous to strive for high throughput and have an active DeFi ecosystem directly on L1.



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Emin รีทวีตแล้ว

🚨New Blog Post🚨
Slow Blockchains are Better
"Blockchains like #Solana and #Sui can try to fight this reality, but the outcome (playing out over decades) is inevitable. They are destined to be a fast L2 to a slower L1."
#Cardano #DeFi
github.com/fallen-icarus/…
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@JaromirTesar Yes. Because this creates arbitrage opportunities for additional profit and increases Cardano’s usage activity.
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@melonaire @DexHunterIO What happened to the Splash and DexHunter partnership, and where does $DHX stand now?
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Emin รีทวีตแล้ว

On leaving Cardano and the Cardano community
These days, some project creators are leaving Cardano. Here is how I see it.
My friend, you are creative, you came up with something, you have an idea, maybe NFT art, finance, a meme project, some utility, a dex, RWA... One morning you woke up and decided you will conquer the world.
And then a cold shower, you have no community, no capital.
So you remembered that you can take Catalyst funds to build your product, and you can sell that product to the #CardanoCommunity. The infrastructure is already here and your plan was simply to drain it, both the funds and the people.
You came up with a plan, how to earn big money without work, without effort, without an idea, without motivation, without marketing.
And then things went bad. You did not get the funds, you did not get free $ADA, the community did not buy everything from you, did not use your product, you did not earn any trust.
Your business idea collapsed before it even started.
So you decided to blame Cardano, blame @IOHK_Charles , blame the community , blame everyone...
But the truth is simple, your project is garbage.
You failed because you are not capable, you did not build a sustainable business, you did not build something people want, you did not do the math, you had no business plan, you did not develop your idea.
The only plan you had was how to drain the Cardano community and Catalyst. It did not work, and for you, that is the end of the story.
It is like blaming the car manufacturer because your taxi pizza business failed even though you used their cars.
My legend, the car was working perfectly fine the entire time, but your pizza recipe was terrible, and people do not want to pay for trash.
Cardano is an incredible technology. Cardano is a place where big ideas are welcome, a place where builders can create something meaningful.
But it is not a place where you come with a shit idea to drain the Cardano fund and the Cardano community.
Many underestimate the Cardano community. They think we are idiots who will buy any garbage and finance any garbage.
And then when that does not work, they get angry at the world and say that Cardano and the #Cardano community are to blame.
It does not work like that.
Cardano moves forward, unstoppable. And along the way, natural selection will happen. Bad actors will fall off, and good projects will be rewarded.
Rewarded because they know what they are doing, because they have a plan, a dream, a vision, a business model, charisma, because they contribute to the ecosystem, because they give to the ecosystem without asking anything back.
These are the ones who will win the most.
And finally, Cardano is not the reason you are leaving. Do not say goodbye to Cardano in dramatic farewell letters, do not blame the community.
We will survive. You, without our fund and without us as your exit liquidity, probably will not...
And that is your own fault.
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Emin รีทวีตแล้ว
Emin รีทวีตแล้ว

Whenever something unexpected happens, the usual rumours and hot takes start flying. Let’s ground everything in clear facts instead of noise.
Yes, this was a serious incident. But the network demonstrated its resilience, stayed online, and the ecosystem responded with speed and professionalism.
And importantly, this wasn’t a random “vibe coder” accident: it was a deliberately crafted transaction by a technically knowledgeable individual.
Here are the myths vs facts everyone should know 🧵
Cc @wabdoteth @nikzh @gnarleyjs @AThrouvalas @Danheld @mert @nic_carter

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@altugisler Aslında ağ durmadı. Nakamoto konsensüs işlemine göre fork oldu ve Cardano yoluna devam etti, kendini yeniden toparladı. Bu, aslında Cardano’nun ne kadar güvenli bir blokzincir olduğunun göstergesidir. Bir şeyden hiç anlamıyorsan konuşma.
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Blockchain tarihinin en komik olaylarından. Çocuk evde otururken “Acaba Cardano ağını durdurabilir miyim?” diye AI ile kodlama yaparak gerçekten ağı patlatıyor😅 Hoskinson da Fbi’i arıyor çocuğu polislere aldırıyor. Daha komiği ağın durup yeniden çalıştırıldığını kimse fark edip konuşmuyor çünkü kullanan neredeyse yok…
Charles Hoskinson@IOHK_Charles
Cardano works so fast that we forked, fixed, and caught the guy all in one day. He was quite active in the Fake Fred discord. It was absolutely personal and now he's trying to walk it back because he knows the FBI is already involved
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Emin รีทวีตแล้ว








