0xTechDean

Co-founder & CTO @0xOthentic

[0xTechDean @0xTechDean]

@LevanonAdi אני היחיד שלא מבין את הרפרנס?

[0xTechDean @0xTechDean]

@itamarbengvir אני באמת לא מבין מה האינטרס שלך לעשות לנו פיגוע הסברתי כזה כל פעם מחדש. להציג מציאות שהיא לא אמיתית ובעיקר פוגעת בלגיטימציה הקטנה שעוד נשארה לנו.

[0xTechDean @0xTechDean]

@chainyoda @HyperliquidX I guess market makers can’t really hedge against this

[0xTechDean @0xTechDean]

I think it sounds like SAAS is back

[0xTechDean @0xTechDean]

@t54ai You should add @humntech for human identity verification

[Troy Kirwin @tkexpress11]

We're launching a new program @ NY Tech Week for global founders starting with Israel

June 1 - 7

we’re bringing 7-10 Israeli founders to NYC for a curated Tech Week experience
- up to $ 5K to cover travel cost
- small dinner with the a16z speedrun team
- access to executive buyers/customers at our AI Faire
- invite to VIP a16z events
- and more

meanwhile, there’s a bunch of other awesome Israeli focused and general Tech Week events that week to attend

if you’re an Israeli builder just beginning to think about starting a company and want to test your ideas with the US market:

apply below!

[0xTechDean @0xTechDean]

@trq212 @om_patel5 Why wouldn’t you guys start having a better support system instead of this automated system or public X accounts?

[Vivid.🇮🇱 @VividProwess]

The unbreakable bond between the Jewish people and the Iranians.

A free Iran would be Israel's greatest ally in the Middle East.

[0xTechDean @0xTechDean]

@Crypto_Mario_B דרך יפה לא להגיד כלום

[0xTechDean @0xTechDean]

If you know, you know... @YojinHQ

[Sweep @0xSweep]

DeFi is dead and most of you still don’t understand what it actually was

It was never a financial system. It was a loop designed to manufacture synthetic valuations from minimal capital

Protocols didn’t grow capital, they multiplied how it was counted by turning one deposit into multiple positions

A token gets emitted, you’re paid to deposit it, and that deposit is recorded as TVL. That’s position one.

You borrow stables against that same collateral, deploy them somewhere else, and now that same base capital is supporting a second position on another protocol

Then you take the LP token from that, restake or loop it again, and it gets counted a third time

Lets simplify it with $100:

> You deposit $100 into a protocol, that’s your first position and it’s recorded as $100 TVL

> You borrow $80 against that same $100 and deposit it somewhere else, now there’s another $80 being counted

> You borrow $60 against that $80 and deploy it again, now that’s another layer

You take the receipt from that and loop it one more time

On paper you now have $280+ across protocols, but in reality its still the same $100

This is the same illusion as altcoins printing billion dollar market caps on tiny float

A $2B token with 5% circulating isn’t $2B of value, it’s $100M of liquidity marked higher by thin trading

DeFi did the same thing with TVL. Instead of multiplying price across supply, it multiplied the same capital across protocols

TVL became FDV in a different format

Protocols emitted tokens to LPs, counted those tokens as TVL, then counted the incentivized volume as usage

That volume generated fees, fees justified valuation, valuation justified emissions, and the loop continued

No external demand was needed and the system kept feeding itself

Every narrative ran the same structure. Yield farming, LSDs, restaking, points. Different names for the same mechanic

You weren’t earning yield. You were being paid in dilution

At the peak, $200B+ TVL implied capital that never existed. The real base was a fraction of that, looped, leveraged and counted multiple times

Each protocol reported it independently, dashboards aggregated it as if it was additive

That’s how the industry looked massive

This is why altcoin market caps and DeFi TVL broke at the same time

Both were built on internal pricing, thin liquidity, and recycled capital. One inflated valuation through float, the other through collateral loops

Neither represented real economic scale

The fragility came from this exact structure. The hacks weren’t random....

You don’t extract hundreds of millions from systems generating real external cash flow, you extract from systems where the value was already abstract

Strip out token denominated TVL, emission based yield, recycled collateral, and wash volume. What’s left is a small set of protocols actually moving capital

DeFi didn’t fail. It worked exactly as designed. It took limited capital, looped it, marked it higher, and distributed it

Now that the loop is visible, the numbers don’t hold

That’s why it doesn’t bounce. There’s nothing underneath it to support the scale it once claimed

[The Smart Ape 🔥 @the_smart_ape]

> be in defi
> put usdc on aave at 3% apy
> "safe yield. lowest-risk play."
> can't withdraw because kelpdao got drained
> because kelpdao used layerzero
> because layerzero trusted 3 rpc servers
> because north korea ddos'd 3 rpc servers
> layerzero: "the protocol worked as intended"

[Shaun Maguire @shaunmmaguire]

Dear Haters and Losers,

You’re morons.

Update your world models.

gg

[Tal Morgenstern @TalMorgenstern]

Israeli founders:
I see your pandemic, SVB and raise 10 hour time difference, 3 wars, mass protests, exchange rate and all your VPs on reserve duty. Bam.
Playing on hard mode 🇮🇱

[0xTechDean @0xTechDean]

🚨 The Golden Age of Cheap Unlimited AI Just Died🚨

For one glorious stretch we actually had it:

~$200/month for near-unlimited frontier models.
No “you’ve reach the limit” bullshit.

We got dangerously lazy.

- “AI, just git pull and fix the merge conflicts”
- “AI, write my commit message like a senior engineer”
- “AI, debug this while I grab coffee”

Pure degeneracy. Absolute bliss.

Then they pulled the plug.

It’s not “a bit worse.”
It’s 95% worse.

Straight-up unusable unless you’re dropping thousands of dollars a month on enterprise plans.

Silver lining: Your job is safe for a little longer 😂

Dark side: It’s gatekept from normal devs and retail users again.

Now we’re in limbo waiting for a local/open model that actually matches Opus-level performance.

The party was legendary.
The hangover is brutal.

[0xTechDean @0xTechDean]

Claude has been unusable these days, so I tried Codex. It gives me Cursor vibes, not really my thing

[0xTechDean @0xTechDean]

@lydiahallie Why not reset the limits for everyone this week?

[0xTechDean @0xTechDean]

@lydiahallie

[Mario Nawfal @MarioNawfal]

I’ve said it before and I’ll say it again: I don’t think Israel is the reason Trump attacked Iran

It’s much bigger than that

[0xTechDean @0xTechDean]

....