timing is curious
new primitives take time.
new narratives need time to consolidate
the market rewards iteration in accelerated environments. adapt or die
@mirror_fi is just the start
CLOB vs CDP-as-LP mechanism for onchain PMs has been on my mind lately... CLOB is fine for v1 but liquidity is exogenous. you subsidize makers with rewards until organic flow justifies the spread. cut the emissions and depth collapses
CDP-as-LP inverts it. lock collateral, mint outcomes atomically, the pair is the pool. liquidity scales 1:1 with TVL, not with incentive budget. every position is LP exposure by construction
the real unlock isn't better LP economics. once outcomes are CDP-issued ERC20s with deterministic parity, they're collateralizable, basket-able, hookable into v4. PMs stop being a vertical and become a primitive anyone can build on
watching the use cases people are imagining for @mirror_fi has been one of the best parts of building it
we only realized the prediction market angle while shipping, but a tuple can be any market: contrarian narratives, dual-pegged memecoins, binary outcomes on anything resolvable. v4 hooks are what unlock that range
excited to see what people deploy on our permissionless version