Second Set Maze

Quick thoughts on market turmoil: 1. Make sure your financial guru (whoever you listen to) has a gnarled up wrinkly face, gray hair, and lots of cash (you need someone who's still in it for the love of the game). 2. Why? We haven't seen a market setup like this since, what?, covid. Cash bazookas artificially propped up markets then, though. And you can't summon energy with cash bazookas. 3. I think 2007-08 is a much better trading analogy. If you weren't active back then, it was utter madness. You'd get limit up days followed by limit down days and vice versa... you thought things were ending and then a new company went bankrupt and you were certain the whole house of cards was collapsing. It was constant, unending whiplash that made you feel like puking. 4. But... even that market wasn't a great analogy. Probably the best is the 1973 Arab-Israeli War (Yom Kippur War). Few things we saw: - OPEC launched a 5-month oil embargo on the US, Netherlands, Israel and others - Crude shot up 400% - Dow fell 45% - Stagflation ATE wealth - Embargo lasted 5 months - Economic impact lasted "nearly a decade" 5. The US imported about 35% of its oil at the time (mostly from Arab states). There was no way to replace it, and the embargo created genuine physical shortages. Gas stations ran dry, and the government implemented odd/even rationing: you could only buy gas on odd or even days depending on your license plate. Lines stretched for blocks and sometimes miles. Station owners posted 'No Gas' signs. Everyone who lived through it still remembers and talks about those gas lines. 6. The weird part is how "calm" markets have been. My guess on why: 7. LLMs turbocharged a trend that was already happening: the complete devaluation of language. Everything is "historic." Everything will "change your life." This air-fried cabbage chip will clear your arteries and make your skin glow and 10x your libido. 8. So when something genuinely historic actually happens, we write it off. We've been trained by a thousand false alarms. The boy who cried wolf, but the wolf is real this time and we're still laughing at him. 9. Markets are waking the f up right now, and I'd be really surprised if we don't get some limit down (and limit up) days. 10. If you're having trouble w peace of mind, focus on what you can control... make sure you've got your "real" assets in order (access to water, food, medicine, starlink, and backup energy). 11. The surf is rising. Not much we can do but ride tf out of it. F war. Wishing you peace and love wherever you are

The agents already call us "meat puppets." Between the warbirds overhead and the Einsteins in the server racks, reality is glitching. If you don't have a physical anchor, you’ve already lost Some thoughts on Negative Capability and the art of Fogmaxxing:

Privacy is normal.

🚨 Clarification on the Stake DAO report: After further review with the team, we want to clarify: • The issue was in a user-facing hook integration, NOT Votemarket V2 core. • $0 funds were at risk. • Off-chain merkle distribution logic would have blocked any theoretical extraction. This was not a protocol-draining event. Bounty awarded for the disclosure. 🤝

So in Curve there's 3 types of pools: - Stableswap: for assets like $USDT / $USDC or scrvUSD / $USDT - Cryptoswap: volatile pairs, like $ETH / $crvUSD, or $CVX / $ETH, etc - FXSwap (new): low-volatility pairs, $EURC / $USDC, $crvUSD / $ZCHF, but could also be $ETH / $crvUSD, etc None of Curve's pools require you to actively manage positions like Uniswap or any other CLAMM, everything is passive, and all the liquidity is handled and moved by the efficient and elegant math, compared to market makers changing their ranges manually in Uniswap. For stableswap the basic idea is that the liquidity is balanced around the peg, normally 1:1 price, this mostly doesn't change. With Cryptoswap the math tries to keep most of its liquidity around the current price, because by offering deep liquidity at the current price you get lots of swap volume and fees. Cryptoswap keeps it's liquidity balanced around the current price by moving liquidity when it's generated enough profit from trading fees (can only use max 50% of swap fees to rebalance) FXSwap is similar to Cryptoswap, it needs to move liquidity around as price changes so liquidity stays deep around the current price, and LPs make lots of profit from swaps. It can use 50% of swap fees to rebalance, but issuers can also use the new refueling incentives to keep liquidity balanced. Because if liquidity stays at the current price, more volume is routed through Curve pools, and LPs and the DAO make more profit.