~/CryptOracle 'sAd' (Pelf Sollution)

Cosmic degrowth Think ToK, Disrupt-Tech Enthusiast & MultiverseDAO. DeMi (Decentralized Hyphae) for a better world & {🍄🌱🦑🌵⛓️🦇🔊} interdependence maximalist

[vitalik.eth @VitalikButerin]

We need more DAOs - but different and better DAOs.

The original drive to build Ethereum was heavily inspired by decentralized autonomous organizations: systems of code and rules that lived on decentralized networks that could manage resources and direct activity, more efficiently and more robustly than traditional governments and corporations could.

Since then, the concept of DAOs has migrated to essentially referring to a treasury controlled by token holder voting - a design which "works", hence why it got copied so much, but a design which is inefficient, vulnerable to capture, and fails utterly at the goal of mitigating the weaknesses of human politics. As a result, many have become cynical about DAOs.

But we need DAOs.

* We need DAOs to create better oracles. Today, decentralized stablecoins, prediction markets, and other basic building blocks of defi are built on oracle designs that we are not satisfied with. If the oracle is token based, whales can manipulate the answer on a subjective issue and it becomes difficult to counteract them. Fundamentally, a token-based oracle cannot have a cost of attack higher than its market cap, which in turn means it cannot secure assets without extracting rent higher than the discount rate. And if the oracle uses human curation, then it's not very decentralized. The problem here is not greed. The problem is that we have bad oracle designs, we need better ones, and bootstrapping them is not just a technical problem but also a social problem.
* We need DAOs for onchain dispute resolution, a necessary component of many types of more advanced smart contract use cases (eg. insurance). This is the same type of problem as price oracles, but even more subjective, and so even harder to get right.
* We need DAOs to maintain lists. This includes: lists of applications known to be secure or not scams, lists of canonical interfaces, lists of token contract addresses, and much more.
* We need DAOs to get projects off the ground quickly. If you have a group of people, who all want something done and are willing to contribute some funds (perhaps in exchange for benefits), then how do you manage this, especially if the task is too short-duration for legal entities to be worth it?
* We need DAOs to do long-term project maintenance. If the original team of a project disappears, how can a community keep going, and how can new people coming in get the funding they need?

One framework that I use to analyze this is "convex vs concave" from https://t.co/1BrMsUAKWK . If the DAO is solving a concave problem, then it is in an environment where, if faced with two possible courses of action, a compromise is better than a coin flip. Hence, you want systems that maximize robustness by averaging (or rather, medianing) in input from many sources, and protect against capture and financial attacks. If the DAO is solving a convex problem, then you want the ability to make decisive choices and follow through on them. In this case, leaders can be good, and the job of the decentralized process should be to keep the leaders in check.

For all of this to work, we need to solve two problems: privacy, and decision fatigue. Without privacy, governance becomes a social game (see https://t.co/uMXcuzQNjM ). And if people have to make decisions every week, for the first month you see excited participation, but over time willingness to participate, and even to stay informed, declines.

I see modern technology as opening the door to a renaissance here. Specifically:

* ZK (and in some cases MPC/FHE, though these should be used only when ZK along cannot solve the problem) for privacy
* AI to solve decision fatigue
* Consensus-finding communication tools (like https://t.co/Nzord32Ub1, but going further)

AI must be used carefully: we must *not* put full-size deepseek (or worse, GPT 5.2) in charge of a DAO and call it a day. Rather, AI must be put in thoughtfully, as something that scales and enhances human intention and judgement, rather than replacing it. This could be done at DAO level (eg. see how https://t.co/pCHI7Mlo2m works), or at individual level (user-controlled local LLMs that vote on their behalf).

It is important to think about the "DAO stack" as also including the communication layer, hence the need for forums and platforms specially designed for the purpose. A multisig plus well-designed consensus-finding tools can easily beat idealized collusion-resistant quadratic funding plus crypto twitter.

But in all cases, we need new designs. Projects that need new oracles and want to build their own should see that as 50% of their job, not 10%.

Projects working on new governance designs should build with ZK and AI in mind, and they should treat the communication layer as 50% of their job, not 10%.

This is how we can ensure the decentralization and robustness of the Ethereum base layer also applies to the world that gets built on top.

[liam @daddysether]

L2s ARE NOT parasitic to Ethereum.

If it weren't for L2s such as @arbitrum, @base, @Optimism, @zksync, (and others), Ethereum would be struggling.

The only reason that novel innovations (like onchain AI) are happening on Ethereum is because L2s make it cheap enough to do so.

[liam @daddysether]

ATTENTION ETHEREUM COMMUNITY

Don't let people psyop you into believing that Ethereum doesn't possess a "winning culture" - this is false.

The Ethereum community has kicked more goals than 99.9% of crypto ecosystems out there, and it's not even close.

[Dan Romero @dwr]

What's better about Frames v2

Static images -> web apps

Ephemeral in feed -> add to your client

Fragmented messaging -> in-app notifications

[mely.eth @mely_jpg]

Testing uni.eth names with the @uniswap extension for mely.uni.eth 🦄✨

[Scroll @Scroll_ZKP]

🎲 Trustless Randomness Now Deployable on All EVM Chains! 🎲

drand VRF is now available for ALL EVM chains, made a public good by Scroll!

This means:
• Free, verifiable randomness (just cover gas)
• Open-source implementation
• Instant availability for developers

Discover what this means for you ⬇️🧵

[AminCad Ξ🐬🔊 - evm/acc @AminCad]

Roman Storm simply published a web wallet built with HTML/JS, which users run in their own browsers to execute transactions. His involvement ended at publishing the code.

The interface he provided was entirely passive — it didn’t perform any actions on its own and could be downloaded from many sources, not just his website. In fact downloading Tornado Cash's HTML/JS User Interface code from Github and opening it in your browser provides exactly the same experience as opening the web wallet Storm published, because in both cases, all operations happen on the user's own device. This cannot be repeated enough: Storm never ran any custodial service, nor did his server execute any transactions. His involvement was strictly limited to publishing software.

His other allegedly criminal act was publishing the open-source Tornado Cash smart contracts. Again, zero active participation in any transaction. His involvement is limited to publishing code.

He shouldn’t be going to fucking prison for publishing code. Holding him criminally responsible for others using his code for illegal activities is like prosecuting MetaMask's creators for criminals using their software to transfer illicit funds. This is essentially criminalizing the development and release of open-source software.

[~/CryptOracle 'sAd' (Pelf Sollution) @PelfSollution]

The Nemesis Guide to Being Early *Summer ‘24 Edition* https://t.co/PPsmdRYdJC

[vitalik.eth @VitalikButerin]

Ethereum has gotten stronger:

* Under $0.01 txfees on L2
* Two EVM L2s (@Optimism @arbitrum) now at stage 1
* Cross-L2 wallet UX has improved a lot (eg. no more manually switching networks), though still a long way to go
* Much more powerful and mature ZK tooling making life easier for app builders
* Starting to see second-generation privacy tools (eg. @0xbowio )
* Identity/reputation/credentials ecosystem much more powerful, and starting to actually be used more and more
* Progress on STARKs leads to much clearer long-term security and decentralization story
* Much more clarity on account abstraction roadmap
* Much more clarity on block construction endgame (it seems to be down to FOCIL + APS vs multi-proposer)
* Staking decentralization stable (see comparison charts below, the "PoS is more centralized than PoW" line has proven completely false)

The fundamentals for Ethereum are actually crazy strong right now.

[Trifle ♧ @triflelife]

(̿▀̿ ̿Ĺ̯̿̿▀̿ ̿)̄ ミ★ "𝘍𝘖𝘙 𝘐𝘔𝘔𝘌𝘋𝘐𝘈𝘛𝘌 𝘙𝘌𝘓𝘌𝘈𝘚𝘌" ★彡

TLDR: https://t.co/6yqysWTF2R on @base ＮＯＷ

𝘼𝙉𝙔𝘽𝙊𝘿𝙔 𝙋𝙍𝙊𝘽𝙇𝙀𝙈 is the most a͢d͢v͢a͢n͢c͢e͢d͢ t͢e͢c͢h͢n͢o͢l͢o͢g͢y͢ in the history of onchain gaming and ¢yptography.

[lito @litocoen]

seeing a lot of exciting developments in the payment space so i thought i’d map it out

do you think those categories make sense?

who is missing?

[Amir Taaki ⛛ @lunardragon420]

We created the world's first and only fully anonymous on-chain DAO with token-weighted voting.

Everything about the DAO is anonymous. DAOs are meant to be political and subversive.

• The DAO cannot be seen on-chain. It's looks like random data.
• The treasury is dark. Payments to and from are unlinkable and amounts are hidden.
• Voting tokens owned by members are anon. You cannot see who is a member nor what shares they hold.
• Proposals are anon. You cannot see which DAO they belong to. Nothing is revealed. They are invisible.
• Voting on proposals does not reveal your identity. The vote and its amount is invisible.
• Any smart contract can be called such as sending funds from the treasury.
• DAO actions remain hidden. For example payments reveal nothing about the treasury, and the receiver stays anon.
Everything is dark.

In 2020 there was a story about squad wealth, democratic empowerment and the (3, 3) meme. DAOs were envisioned as the post-corporate online future for mobilization and wealth creation of communities.

This vision got stuck and eventually fizzled out.

DAOs are subversive. DAOs must be anonymous.

Imagine an authoritarian regime comes to power. They are oppressing your people. With an anon DAO, you can mobilize as a squad to resist and defend freedom.

But with a transparent DAO, the regime's secret police will arrest you. In many countries this leads to torture and execution.

More than ever we need anonymous DAOs to defend freedom.
Lets create the future internet. Lets create free society. Globalism will end. Its time we got serious.

With anonymous DAOs squads form an on-chain orgs. This org has governance rules in the contract. The DAO can raise funds for a cause. Then the funds are managed by the team.

Anon DAO members are anonymous, uncensored and sovereign.

Cryptocurrency's promise was to deliver the economic paradigm of the internet. But we're not there yet. Nobody wants to setup their company on a transparent blockchain. This makes DAOs useless.

> "We’ve reached the point where if we take further steps on privacy, that harms the advertising industry and the things that we think are useful and contribute positively to the web, but also has a whole bunch of collateral implications," says Martin Thomson, a distinguished engineer at Mozilla.

Instead we see Firefox say this. The tech industry depends on surveillance and data harvesting, manipulating people with psychology to make you addicted and click ads. It's perverse and wrong.

Instead cryptocurrency offers the path forwards. Finally tech can be political and subversive. Tech is able to flourish and be useful for people.

Anon DAOs are only the first step. Online orgs need anon tooling for tasks, documents, collab and much more. DarkFi is the only team in crypto working on this. Everyone else is captured chasing narratives and liquidity. They forgot the true power of cryptocurrency.

Expect us.

Let there be dark.

▽

[Nina @ninaprotocol]

We'll be sharing something new @sonarplusd during @SonarFestival in Barcelona, June 13-15

Reach out if you'll be there

[mert @mert]

ok please help me understand this

on an L1

- validators get block rewards, MEV and inflation, which they share with stakers

- multiple validators get this reward, and anyone can try to get a piece of the pie by providing a useful service

on Base

- you charge users per transaction on a centralized system by forcing them to use a single-threaded, global state contention and pitting users against each other

(i.e., a mint on an NFT will raise the prices for random shitcoiners)

- the revenue that a network like Solana would make (stakers, LSTs, validators) all goes to Base's single sequencer

- Base makes about like 2M from this, of which only like 1k goes to ETH (see below)

- keep in mind, this is while Base is doing only like 15 TPS — (which ...is another convo since this is actually just as centralized as the exchange but worse pricing and speeds)

- okay so then you say "it's fine, ETH will accrue value because people will use ETH for money on Base" — sure, let's say this is true

- but...Base is trying to scale by i) increasing gas limit ii) outsourcing state isolation to L3s (which btw won't work if L3s take off lol)

- even ignoring the colossal complexity that arises here (i.e., how do withdrawals work? challenge periods? trust assumptions? interoperability?) — there is now a new interesting dynamic introduced:

- the new Degen L3 chain introduced yesterday uses $DEGEN as its native gas token (meaning ETH is not used for money)

- so: you now have L3s using non-ETH as money, Base collecting all the revenue, ETH leaking most of it and on top of this: you have cascading trust assumptions since Base is centralized, ruled by a multisig, and the L3s that use it use a trusted committee for DA and don't have permissionless proofs 🤯

- but what's ironic is that if you think about it, this means that VMs with state isolation directly on the L2 (like SVM rollups) are actually more Ethereum aligned since they use ETH as money vs. the OP stack itself which lends way to non-ETH L3s, assuming it's not a mega-scaled OP stack

(or ZK aggregation stuff like Polygon)

- these are almost purely business decisions for L2s to own the relationship with the inflows — they *are not* necessary for scaling and I don't even think they actually help scaling except for a short-term bandaid

TL;DR — the dynamics here imo are wildly underexplored and have some really bizarre consequences — L2s *are* good for ETH, but L3s are ... good for L2s and not necessarily ETH at all

it feels crazy to me to blindly support this stuff with 0 critique just because your favourite exchange is doing it or you're scared of some weird alignment dynamic

[Ocean Protocol @oceanprotocol]

1/🤝Ocean Protocol, @Fetch_ai & @SingularityNET unite to create the Artificial Superintelligence Alliance, through a token merger into a single $ASI token with a combined value of USD$7.5 Billion, with a current ranking at ~#20 on #CoinMarketCap.

Read on, anon! There’s more!

[John Wang @j0hnwang]

FriendTech V2 is dropping in 1 month.

I bought @0xRacerAlt’s key for $10,000 and digested all his private messages from the past 6 months so you didn’t have to. As the 3rd largest @friendtech key buyer of the past 7D, read on for V2 leaks. 👀

Revival arc inbound? 🐰

[ZachXBT @zachxbt]

1/ An investigation into the French dev Jolan Lacroix who recently stole $900K from the TICKER presale on Base before spending the funds on meme coins and Milady NFTs.

[Gelato @gelatonetwork]

Blobs are On 🟠 Gelato.oO

DENCUN
EIP-4844
PROTO-DANKSHARDING

Today, the Dencun upgrade goes live to cut transaction fees for Layer-2 networks on @Ethereum by over 80%.

Dencun upgrade is available on all Gelato rollups immediately.

Why is this a BIG deal for Layer-2s?

Rollups post data directly on Ethereum to verify state changes & ensure data availability, a critical but costly process.

This comes at a high price, adding up to 80% of total rollup costs, because pre-Dencun all data stays on-chain permanently.

The EIP-4844 introduces a concept called "blobs" which will be used as temporary data storage freeing up valuable block space on the Ethereum mainnet, leading to reduced operational costs & increased transaction processing capacity ↓

→ 10x lower network fees
→ Reduced congestion, lower costs at peak times

🐡 🐡 What are blobs and how do they cut Layer-2 fees by 10x?

EIP-4844 introduces "blobs" to reduce Ethereum data storage costs by providing temporary memory for carrying transaction data.

→ Each blob can hold up to 128KB. A block can accommodate up to 6 blobs, greatly expanding data capacity for Layer-2 transactions in a single block.

→ Blob auto-delete after ~18 days, providing short-term storage and reducing high-end hardware demands.

→ Blob data stored by beacon nodes is accessed through data references by the EVM, reducing computational overhead for efficient, cost-effective storage.

But what does that mean for an average Joe using the Layer-2s?

Users interacting with Layer-2 Apps will see up to 10x lower fees.

On the @Arbitrum a single DEX swap today sets you back for $0.26. Soon this swap will cost you $0.03, saving ~88.46% on a single transaction. ⚡

Proto-Danksharding moves Ethereum closer to full Danksharding for ultra-cheap Layer-2 transactions & scaling over 100,000 TPS.

Now that sounds, like ultrasound to us 🔊

In summary, the Dencun upgrade is set to make Ethereum more efficient, secure, and scalable, paving the way for broader adoption and new use cases within the ecosystem.

Join Gelato founder, Hilmar Orth @hilmarxo this Friday on a Twitter Space with @QuickswapDEX, All Roads lead to Polygon, at 3 PM UTC / 11 AM EST to discuss the Dencun upgrade and its implications for Layer-2s and beyond.

On 🟠 Gelato

[Scroll @Scroll_ZKP]

Blobs are coming .oO

The Delivery at Dawn short film celebrates EIP-4844, core dev stewardship, & every L2!

It's going to take a village to scale Ethereum 🤝

Can you spot Scroll? 📜

Mint this piece of Ethereum history: https://t.co/WtI9dpU76l