nassim

Public, Open #Blockchains @0ximpermanent | prev. @scholesxyz | @cantopublic | @defipulse | 🇱🇧

[Ethan DeFi @EthanDeFi_]

Lending USDC to the USD3 market on Morpho is now also giving 13% APY.

If you're a lender, it's worth keeping an eye on the USD3 and PT-USD3 markets. Both are heavily incentivized by 3Jane.

You can get the 13% APY mentioned above via @monarchlend UI.

[Bluntz @Bluntz_Capital]

just like weekly bear divs were an amazing predictor of the bull market top on $SOL, it also cuts both ways.

if you're bearish down here im sorry but you are clinically retarded.

[*Walter Bloomberg @DeItaone]

TRUMP: IRAN HAS INFORMED THE U.S. THERE ARE NO TOLLS BEING SOUGHT ON STRAIT OF HORMUZ

[Killa @KillaXBT]

The maniplation phase $BTC

The stage of the cycle where traders continuously lower their price target.

There's nothing wrong with being early on an asset that has already dropped 52% and completed 80% of its bear market.

[nassim @0xsnasps]

This feels so much like the Maker backstop effort that Defi was able to coordinate in it’s infancy after black Thursday in 2020.
#DeFiUnited

[Aave @aave]

Another great Aave ecosystem partner, @Mantle_Official, proposes to participate in DeFi United to their DAO.

We look forward to continued collaboration with Mantle and their community.

DeFi United.

[Jo @josephk89]

Got tired of checking my Claude Code usage manually every few minutes
so I built PulseCheck, a macOS menu bar app that shows your daily and weekly limits, reset times, progress bars.

Zero config, just install

link in next post 👇

[Omid Malekan @malekanoms]

The Canton governance model described by Yuval here isn't new, it's the same model as every privately-owned payment and clearing system in TradFi. It's also why finance is stuck in the dark ages, why you can get a couch delivered faster than a wire, and how the Too Big to Fail banks just get bigger.

Giving the existing members of a platform a vote on "who else gets to join" isn't some egalitarian merit-based breakthrough: It's a mechanism that lets incumbents deter competition and prevent innovation.

That's not a theoretical concern, it's the history of payments and capital markets today.

Permissioned architecture is why Visa and Mastercard (both started as non-profit consortiums) have a higher combined market cap than any bank that founded them. It's why the NASDAQ is more powerful than any member of the National Association of Securities Dealers, and why the CME rugged all of its OG seat holders.

Think of this way: Now that Visa is a Canton super-validator, is it going to go out of its way to welcome Mastercard? It shouldn't. Is Euroclear going to welcome a FinTech that wants to reinvent European capital markets and make Euroclear obsolete? Of course not.

And since this is a permissioned database, the censorship applies to founders and app builders as well. Is the NASDAQ going to welcome a DEX? It would be foolish if it did. In fact it would be a violation of its exec team's fiduciary responsibility to shareholders.

Game recognize game.

None of this is hypothetical. I was in the room when the senior executives of one of the largest banks debated whether they should join Libra (which had a similar governance structure). Joining to block the competition was a stated motivation. Having the competition join and block them was a stated fear.

I also know the leaders of regional banks and credit unions who fear solutions like Zelle because EWS is owned by the GSIBs.

I know highly succesful FinTech founders and VCs who understand that running on bank-owned infra is an existential threat.

I know the crypto founders who spent years fighting to get access to Fed Master accounts because they didn't want to be dependent on Wall Street.

I also know the TradFi firms lining up to join corpo DLT databases while lobbying to kill stablecoins and DeFi in DC.

This is all business 101. Own the infrastructure, don't help your competition, prevent innovation that erodes your margins, make future founders dependent on you.

Yuval has been around crypto long enough to know Proof of Stake consensus is a form of Sybil Resistance, one designed to prevent incumbents from taking over the chain and killing their competition.

The ~$100k cost of becoming an Ethereum validator is trivial compared to the cost of "your competitors & incumbents conspiring to screw you."

I'm confident the various people behind Canton know all of this, they are bright people. They were there for all the previous permissioned corpo database with proof of press release GTM that ended in disaster.

That's why Canton has one unique feature none of those prior attempts had. It's quite clever in that regard.

[nassim @0xsnasps]

Are we really going to re-try hyperledger style consortium chainz in the year 2026 of our lord 😩

[ALEX | ZK @gluk64]

Yuval is trying to manufacture a gotcha, so let me set the record straight:

If you deploy a smart contract on Ethereum, you have FULL CONTROL over how that contract will behave. Same if you deploy your own L2 or a Prividium instance: you determine the rules of that environment completely. This is exactly why banks and institutions are comfortable building on public chains.

But any real smart contract limits the ability of transacting parties to exert control over the assets inside it. That's the entire point. You set the rules upfront, enforced by code in real time — not by contractual promises that take years and millions of dollars to litigate. This is what makes blockchains a genuine upgrade over legacy financial infrastructure.

Would an issuer ever want to limit their own control? Of course! Issuers do it every day. Anti-dilution protections, debt covenants, dividend waterfalls — these are all promises issuers make to investors that say "I won't do X." Today those promises are enforced by lawyers. Smart contracts can enforce them by math.

So the real question every institution should ask their blockchain provider: can your platform actually enforce this logic, or does the issuer always retain root access to the asset?

Canton requires issuers to retain full administrative control, which fundamentally undermines the network's ability to protect transacting parties. On Ethereum, enforcement is guaranteed by math and open-source code.

Canton calls that a feature, but every investor on the other side of the trade should call it a risk.

[Neeraj K. Agrawal @NeerajKA]

Coin Center urges Congress not to sacrifice the bedrock of this whole thing

[nassim @0xsnasps]

@Hraoui17 @DianaMenhem An economic & financial plan for a country requires hundreds of employees. I have serious doubt we have anything close to the competencies needed to produce one. Hell at one point in 2018 we had wild swings (5 to 10k) in gvt. employees numbers.
We don't know how much we have 😅

[nassim @0xsnasps]

@Hraoui17 @DianaMenhem Who is they? In normal cabinets, these things are done by treasury departments/ministries of finance. This is your "Main" culprit. Direct your criticism there.

[nassim @0xsnasps]

@Hraoui17 @DianaMenhem Also agree on the original post. Praising Castro is kinda dumb. Comes with the package I guess 😅

[nassim @0xsnasps]

@Hraoui17 @DianaMenhem So in your opinion they are taxing the rich now as a good lefty would do? Or it's Yassine Jaber catering to his boss' buddies via taxing the almost extinct middle class & avoiding anything that touches their grey economy.
Again all your indignation & wrath is misguided. Dommage!

[nassim @0xsnasps]

@Hraoui17 @DianaMenhem If you can’t see that despite his flaws, and his awkward demure he was the best choice possible at the time. Idk what to say
No one alone is “الحل" in a country with such deep intrenched interests & armed militias.
الحل” is incremental progress over decades to get somewhere

[nassim @0xsnasps]

@Hraoui17 @DianaMenhem Nobody but the ruling mafia and the entrenched interests it represents cares about your “sovereign assets”. And they are still by far the largest players in the government.
Direct your wrath at them. All this is misguided 😔

[nassim @0xsnasps]

@tinderella1844 Let’s say you’re a banker and wanted to distance yourself from hizb money laundering suspicions. What would you do?

[nassim @0xsnasps]

Idk why people are selling their bitcoinz while trump is taking over the fed and turning the USD into a #bananarepublicshitcoin

[nassim @0xsnasps]

@scupytrooples Wahahahahahah. DO YOU KNOW HOW TO “USE” UNISAWP?????

[nassim @0xsnasps]

@bitcoinjack If the threat was credible it would come from the irgc not the fake parliament. Instafade

[nassim @0xsnasps]

@dampedspring @SecScottBessent I think of it as making anyone in the world a direct customer of a US bank thus disintermediating local banking networks & removing all their inefficiencies/costs

[nassim @0xsnasps]

@dampedspring @SecScottBessent Still more efficient than banks. They are almost always required to maintain significant parts of their holdings in local economies. Only way for weaker currencies to generate demand. Obviously anything not mandated by regulators will flock to usd assets