gadget

[gadget @0xgadget]

@fullportnik post addy or all cap

[gadget @0xgadget]

@MelMattison1 Doing ok buddy?

[gadget @0xgadget]

@paulg And all it takes is $500 in electricity 😅

[gadget @0xgadget]

@alexkehr @henryksarat @tian_zhi_chen you not knowing what the highest impact crypto project is does not prove the point you think it proves

Agreed crypto has relatively underperformed given vc capital though. Basically everything was a maximize(extraction) game

[gadget @0xgadget]

@derteil00 fun fact

I remember running a golem node back in like 2020 or smth

Glad to see their product hasn’t changed since

[gadget @0xgadget]

Also, don’t look at this and think 20% depeg! Remeber wstETH = ~1.24eth. This is actually trading at a <2% discount (better than Fluid’s, even when it has liquidity).

[gadget @0xgadget]

FYI if you are stuck with ETH in Arbitrum Aave while the Fluid liquidity is empty

Check out uniswap aArbWETH <> aArbwstETH pool to swap your deposited Aave eth into usable (and withdraw-able!) wstETH now. Should be usable through any DEX router.

[gadget @0xgadget]

@apoorveth arbitrum*

[gadget @0xgadget]

@cuntycakes123 it’s a special opcode on arbitrum (type 101 unsignedTransferTx). Requires 9 of the 12 Arbitrum security council multisig to sign

https://t.co/wvRgAmaYz8

[gadget @0xgadget]

new security model for Arbitrum: it’s like eth mainnet but instead of 1.2 million validators its 12 validators and they are random crypto people

ok sounds good 👍

[gadget @0xgadget]

@sgoldfed https://t.co/wvRgAmaYz8

[gadget @0xgadget]

new security model for Arbitrum: it’s like eth mainnet but instead of 1.2 million validators its 12 validators and they are random crypto people

ok sounds good 👍

[gadget @0xgadget]

@Pledditor https://t.co/wvRgAmaYz8

[gadget @0xgadget]

new security model for Arbitrum: it’s like eth mainnet but instead of 1.2 million validators its 12 validators and they are random crypto people

ok sounds good 👍

[gadget @0xgadget]

@mhonkasalo isn’t it decentralized if a decentralized security council voted to do it?

[gadget @0xgadget]

new security model for Arbitrum: it’s like eth mainnet but instead of 1.2 million validators its 12 validators and they are random crypto people

ok sounds good 👍

[gadget @0xgadget]

@dcfgod @0xQuit Kelp has no right to exclusively haircut L2 holders, per their own documentation. All rsETH holders on all chains share equal right to the unified shared collateral. This is how OFTs work, and they are fundamentally different than bridged tokens natively issued on one chain

[gadget @0xgadget]

@dcfgod Loopers signed up for this risk. If you use 10x and it drops 10% you lose.

rsETH L2 holders DID NOT sign up for bridge risk. rsETH is an OFT where all issuances have equal rights/parity. Per Kelp’s own documentation, L2 holders are not second tier citizens.

[gadget @0xgadget]

Based on Kelp & LayerZero’s OFT spec documentation, it seems clear to me all rsETH have equal redemption rights to the shared unified collateral supply. It seems untenable to me that Kelp could seize value from a subset of equal class holders

My full thoughts on Aave forum: https://t.co/4e7RQfr9DX

@ImperiumPaper @MonetSupply would love any thoughts if I’m missing something?

[gadget @0xgadget]

@SerenityFund @aave Kelp will need to provide equal redemption to all issued rsETH

https://t.co/LvxilCT43K

[gadget @0xgadget]

I’m seeing lots of people saying the rsETH “bridge” was drained.

THIS IS WRONG

rsETH does not use a “bridge”, it is a natively omnichain token (OFT). Kelp and layerzero both make it very very clear that all issued tokens share a unified supply and are pari passu.

If kelp grants preferential redemption to L1 holders just because of the vibes, the ensuing shit show will be unbelievable.

[gadget @0xgadget]

@ryanberckmans It is not even an option, all rsETH is pari passu and must have equal redemption rights

[gadget @0xgadget]

I’m seeing lots of people saying the rsETH “bridge” was drained.

THIS IS WRONG

rsETH does not use a “bridge”, it is a natively omnichain token (OFT). Kelp and layerzero both make it very very clear that all issued tokens share a unified supply and are pari passu.

If kelp grants preferential redemption to L1 holders just because of the vibes, the ensuing shit show will be unbelievable.

[gadget @0xgadget]

@0xl3th3 This was not an L2 problem this is a Kelp/LayerZero problem

https://t.co/LvxilCT43K

[gadget @0xgadget]

I’m seeing lots of people saying the rsETH “bridge” was drained.

THIS IS WRONG

rsETH does not use a “bridge”, it is a natively omnichain token (OFT). Kelp and layerzero both make it very very clear that all issued tokens share a unified supply and are pari passu.

If kelp grants preferential redemption to L1 holders just because of the vibes, the ensuing shit show will be unbelievable.

[gadget @0xgadget]

@AirdropGlideApp Kelp has no choice but to socialize

[gadget @0xgadget]

I’m seeing lots of people saying the rsETH “bridge” was drained.

THIS IS WRONG

rsETH does not use a “bridge”, it is a natively omnichain token (OFT). Kelp and layerzero both make it very very clear that all issued tokens share a unified supply and are pari passu.

If kelp grants preferential redemption to L1 holders just because of the vibes, the ensuing shit show will be unbelievable.