Mike | nomial.io

Co-founder of @nomial_io | Prev. @brinktrade | Intents Builder ⛺

[Mike | nomial.io @MikeCalvanese]

Fast-fill intents (less than 15 seconds) generate a huge amount of fees, but they only represent 3% of all bridging volume🤔

Users clearly want to bridge faster, so why aren’t we seeing more fills under 15 seconds?

🧵👇

[Mike | nomial.io @MikeCalvanese]

@EverclearOrg 🫡

[Justin Bram @JustinCBram]

Some personal news:

I've joined Variational as head of product. I am now responsible for driving the product’s transition from crypto to RWAs.

As a long time crypto builder, this is the first time in a while that I'm waking up genuinely excited about what I’m shipping. Beyond the mission, I’ve been incredibly impressed by the caliber of the team here

@variational_io is the universal broker. We aggregate liquidity across all perps so users get the best execution in one place. We've facilitated $200B of volume, with current OI at $650M.

The RWA category is already bigger than most people realize. RWA perps are now ~50% of onchain volume and the main driver of growth.

We’re partnering with the largest exchanges and market makers in tradfi to bring their liquidity to Variational. This means the same depth as tradfi, the best funding rates in the industry, and a breadth of perp markets that don’t exist anywhere else. I won't frontrun the full announcement but that's where 100% of our time is going

if you trade perps in size, specifically rwas, dm me so I can get you the benefits of early access and get your feedback built into the product.

[Angus Lamps @0xLamps]

https://t.co/IphxDKdnjY

[Mike | nomial.io @MikeCalvanese]

@0xLamps @LayerZero_Core super sad to hear! you've done legendary work and will continue to, I'm sure!

[LayerZero @LayerZero_Core]

What if the inevitable future was finally here?

2.10.26

[openscan @openscan_eth]

OpenScan v1.1.0-alpha 🚀https://t.co/DHzQh5QRXc
• Trustless tx history (binary search, no indexer)
• Network dashboard with on-chain prices
• Mobile responsive
• Bun + Vite migration

Direct from the blockchain. No intermediaries.

https://t.co/hCx8rpt5SW

[Bryan Pellegrino (臭企鹅) @PrimordialAA]

This is the culmination of the past 2.5 years of our lives. I cannot wait to share it with the world.

[tk ⛽️ @tomkysar]

stop trying to call cycles or tops there is no top there is no cycle you are in a perma forever cycle how could you ever look around at the world today and think digital internet money doesn't win just hold the fking coins prices don't matter just don't die you do not respawn

[Tay 💖 @tayvano_]

its kinda funny but the mal zoom / audio not working / update sdk / nimdoor shit doesn’t actually use deepfakes

it’s literally just clips from video podcasts found on youtube lol

but pls keep saying deepfakes it makes it easy to follow who’s been hacked by them this week 👀

[alec gutman @Chipagosfinest]

hyperpools just got announced as a finalist in the @hl_hackathon !!

the love is real

[Mike | nomial.io @MikeCalvanese]

@vaibhavchellani uniswap V1 bro

[alec gutman @Chipagosfinest]

just submitted my first hackathon demo for hyperpools

wish me luck on the @hl_hackathon

[Mike | nomial.io @MikeCalvanese]

@WormholeFdn @StargateFinance hahah wtf

[Dami (the L0 guy) @rookie_of_Ph]

Update on the LayerZero–Stargate proposal

Last night, LayerZero revised its offer for Stargate and hosted a community call with:

• Bryan, CEO of LayerZero

• Angus, Stargate Foundation lead

• Havds, Stargate Community lead

Here are the biggest changes and what they mean for STG and ZRO holders:

1.) veSTG stakers will receive 6 months of Stargate revenue.

• Distribution will be at the current 50 percent top-line revenue share rate while the other 50 percent buysback ZRO

(based on last 3 months, thats $900k in stables to vestg in 6 months, but rev expected to grow if proposal passes)

• Applies to stakers locked at the time the proposal went public

• After 6 months, 100 percent of excess revenue will fund ZRO buybacks

2.) LayerZero’s reasoning

• Two tokens create friction and slow execution

• LayerZero built Stargate V1, V2, Hydra, and OFTs

• Most major integrations came from LayerZero relationships

• Regulatory and market changes favor consolidation

• Institutions prefer dealing with a corporate entity over a DAO

• Merging avoids building competing products and aligns incentives

3.) From Angus Lamps, Stargate Foundation lead

• Stargate V1 proved strong product market fit.

• The Foundation’s role has always been operational, not technical

• LayerZero handled all major technical innovation and most commercial deals

•Without the deal, the DAO must absorb higher operating costs on flat revenue, averaging $300k per month last quarter

• Fee compression and lower token prices are increasing budget pressure

• Operating separately risks misalignment or direct competition with LayerZero, which could drive Stargate into deficit and reduce treasury backing

• Supports uniting under one team to secure Stargate’s future and maintain full alignment

4.) Why now?

• $22B LayerZero messaging volume in Q2

• Stablecoin and payments demand is increasing

• Stargate Foundation has reduced operational capacity

• LayerZero wants to move faster and secure market share

5.) Valuation points

• Offer set at the maximum LayerZero was willing to pay at the time.

• Premium based on market price plus treasury backing value

• ZRO price increase since announcement improves the premium slightly.

6.) Community positions

• Supporters want unified direction and faster development.

• Opponents think STG has stronger independent upside and value capture

• Some are concerned ZRO has not been prioritized as much as STG and with upcoming unlocks

7.) Governance

• 7 days discussion

• 3 days vote(maybe an exception for this one)

• Needs 1.2M veSTG quorum and 70 percent approval

• Swap contract will stay open indefinitely

Do you think these updates and Angus’s position make the deal strong enough to support?

[Everclear @EverclearOrg]

@AcrossProtocol's main solver @RiskLabsFDN now uses Everclear for crosschain rebalancing! ⛺

Improving solver efficiency across 25+ chains, and enabling faster settlement and better prices for users.

ZK proofs + netted rebalancing = faster, cheaper, and more secure bridging. 🤍

[Rhinestone @rhinestonewtf]

Is interoperability finally 'solved'?

We asked 5 teams on the cutting edge of crosschain:

- Wallets ( @getclave )
- DeFi superapps ( @Contango_xyz, @superformxyz )
- Solvers ( @barterdefi )
- Infra ( @lifiprotocol )

Hear what they have to say!

[Mike | nomial.io @MikeCalvanese]

@_prestwich @signetsh 👀

[James Prestwich @_prestwich]

hello we built a rollup

Signet does what a rollup should
And nothing else

@signetsh testnet is live and features built-in instant cross-chain trades, using conditional transactions

https://t.co/J2k0Q1MFcr

[Haseeb ＞|＜ @hosseeb]

Dragonfly invested into PepperSec, Inc., the developers of Tornado Cash, in August of 2020. We made this investment because we believe in the importance of open-source privacy-preserving technology. Prior to our investment, we obtained an outside legal opinion that confirmed that Tornado Cash as built complied with the law, under the guidance given by FinCEN in 2019.

The government has now stated in open court that they are contemplating charges against Dragonfly for having invested into the Tornado Cash team in 2020.

On counsel’s advice, we have refrained from public comment. But we can no longer remain silent.

We believe deeply in Americans’ right to privacy, and the lack of it remains one of crypto’s largest unsolved problems. We therefore stand by our investment. We did not operate or exercise any control over Tornado Cash, we had no contact with any malicious users, we always encouraged our portfolio companies to follow the law, and we maintain that Tornado Cash itself has a lawful right to exist—a view reinforced by Van Loon v. Department of the Treasury and OFAC’s subsequent rescission of sanctions. Charging a venture firm for a portfolio company’s alleged misconduct would be unprecedented, especially under these circumstances.

In 2023 we received a DOJ subpoena and have fully cooperated with the government’s investigation of Tornado Cash, confident that we have always complied with the law. The DOJ has made clear that we are not ourselves a target of their investigation. As with every investment, we provided PepperSec the same advice and support we offer all portfolio companies.

We believe the government’s statement in court today was primarily to undermine a defense of Tornado Cash—to make it more difficult for the defense to call Tom to testify on the stand.

After all of this time—years later—bringing charges against Dragonfly would be outrageous, contrary to the facts and the law, and would induce a chilling effect onto all investment into crypto and privacy-preserving technologies in America.

We don’t believe the DOJ would actually bring such absurd and groundless charges. But if they do, we intend to vigorously defend ourselves.

[Everclear @EverclearOrg]

Everclear has secured a strategic investment from the NEAR Foundation to scale Crosschain Clearing for Digital Assets.

Capital has been deployed via equity, $CLEAR acquisition, and an operational loan.

Here's what the @NEARProtocol and Everclear partnership unlocks! ↓