Mike

@CiaraNightingal Cool beans! I will check it out for sure.

@ZeroKnowledge69 100000%

I’ve been off cooking something and it’s finally here: THE ULTIMATE AZTEC SMART CONTRACT COURSE 🩷🔐 Now live on YouTube (link at the end of the thread)👇

@CiaraNightingal I said app idea twice didn't I?

@CiaraNightingal Cool. I had an app idea but not much experience. Would watching it help me limp thru an app idea?

"so you staked your ETH on the Ethereum blockchain to earn yield?" "yes, Dave" "except you didn't want your capital to be locked up so you actually staked it with a liquid staking protocol called Lido?" "that's correct, Dave" "and Lido gave you a liquid staking receipt token called stETH in return?" "yes, Dave" "and then you didn't think that was enough, so you juiced the yield even further by depositing your stETH receipt tokens into a restaking protocol called Eigenlayer?" "you are correct, Dave" "and now you didn't want to lock up your capital, so you actually restaked with a liquid restaking protocol called KelpDAO who provided you with a liquid restaking receipt token called rsETH?" "you got it, Dave" "and then that was surely not enough juice, so you then deposited your rsETH tokens into a lending protocol called AAVE so that you could open a leveraged looping position that borrows ETH against the rsETH collateral and restakes the ETH into rsETH which is then deposited as collateral, except it turns out rsETH used a cross-chain bridge called LayerZero whose security is held together by a 1/1 toothpick, which was obviously hacked by north koreans causing rsETH to become undercollateralized and now these looping positions are stuck and unprofitable, and everyone is pointing fingers at each other, and also DeFi is a very serious industry" "you are 100% correct, dave" jfc.

@clairekart He's doing The-Maxxing as the kids say.

POV: you’re over 40 and still working in crypto

@GwartyGwart @_zkmike It means data is available!!!

@_zkmike What exactly is a negative TVL again

@LefterisJP @GuiBibeau @solana Yeah, maybe that's a breach of contract on his part. Is there legal ramifications for such negligence? @MetaMask ?

@GuiBibeau @solana So you are responsible for metamask's UX issues? You admit it openly that you did not do you job for 2.9 years. Pretty insane thing to brag about ...

This is sad: 2.9 years at MetaMask as the Lead of the Portfolio. I used the product 2-3 times. 11 months on @Solana, i use it daily and for everything.

@0xngmi I like the info in real time. It's why I'm here. Also, thanks.

This time I decided not to tweet much about the hack because thought it could easily create panic, lead ppl to wrong decisions... i dont think it had any impact at all smh

the kelp rsETH post-mortem is wild lazarus (dprk) compromised two rpc nodes that layerzero dvn was relying on. swapped the op-geth binaries. wrote a custom payload that forged messages *only when the dvn queried* - every other IP, including monitoring, saw clean truthful data. then they DDoS'd the healthy RPCs to force failover onto the poisoned ones. drained $290M. self-destructed the malicious binaries to erase tracks. they targeted rsETH because kelp ran a 1-of-1 DVN config with layerzero as sole verifier

Liquity V2 was designed amid the EigenLayer craze. Every bro was telling us: “You must include xyzETH, it is the future for France.” We looked at a good dozen LSTs, really wanting to expand our collateral offering. But in the end we decided against all of them, ending with ETH, wstETH and rETH as collateral only. That was a difficult decision, as you willingly exclude a huge collateral base. On the other hand, when deploying something immutable you want to be extra sure its longevity is guaranteed. This doesn’t make Liquity bulletproof - nothing in DeFi is. But the tighter collateral base, no admin keys and avoidance of TradFi make the risk lower. Considerably lower.

Those who say "crypto is dead" or "DeFi is dead" don't know what they are talking about. Banks never operated in such harsh conditions, and they always get saved by the Big Printer. As a result, their infra is horrifically bad. In DeFi, we have to make sure that our stuff is solid, and only the fittest survives

@Vladcostea Bitcoin quantum pizza diamond gold. Is it hardfork season again!!!!?

My 2 cents on the whole “let’s freeze the bitcoins that don’t move to quantum resistant addresses” debate JUST DO A FUCKING HARD FORK Abandon the old network, let the quantum computers steal all the worthless coins Move to a better chain that fixes all the issues of the current one Let everyone claim their coins 1:1 on the new chain. Lost or unclaimed coins are still there, just in case the users return one day. Satoshi can return in a few decades, his coins will still be there. Quantum resistance is exactly the kind of existential upgrade for which a hard fork is justified. Don’t half ass this upgrade with something so suboptimal that a limited time for moving coins is even proposed. Soft forks are for trivial stuff. For anything major, just hard fork.

GIGABANGER, smolchained

Aztec Rabbit Hole x.com/i/broadcasts/1…

@bitcoinpanda69 hey foo, would you mind if I gave that che fella a follow?

Free community college for all that wish it.

@knlae_ Well, if you sun it in the morning where red light is the most prevalent, it's free and oh so freeing!

@antiprosynth @hosseeb Lol, this is such a joke. This is why this space is hated by everyone but us.

@hosseeb How did you manage to omit Bitcoin and Ethereum from that list though? 🤦‍♂️

There's an obvious answer here that everyone's dancing around: Crypto is simply harder now. Not because it was all a scam or funny money or whatever. Crypto is harder because it's winning, and there are way more mature companies and products at scale today. This makes incumbents harder to unseat. Coinbase, Binance, Solana, Base, Polymarket, Circle, Tether--they're all bigger and better and more entrenched than they were even just a few years ago. This is a natural thing that happens with industries. In the early Internet, it was a lot easier to build a social network. Very hard after 2015. A couple years ago, there was room to attack the big AI labs, now it's almost impossible to get any distribution at all. That doesn't mean there's no room for startups. But it does mean the land grab phase is over. During the land grab, almost anyone can win given the right timing. But we're in the midgame now, and most of the board is already occupied. At this stage, you'll have to attack someone powerful to take over some land, not just plant a flag in an empty field. There are still a few greenfield areas, and there's always room for people who can genuinely innovate. But crypto is harder now, and that means the ideas need to be sharper, the teams need to be stronger, and the bar is rightfully higher than a few years ago.