Kevin Weinrich

Head of Research @BeaconLayer, crypto-native since 2019.
Collector behind AB101, the first full set of Art Blocks’ original 101 projects 🟪

[Kevin Weinrich @Punk7276]

This Vitalik's 2016 Reddit post gave core idea for Uniswap:

'Let's run on-chain decentralized exchanges the way we run prediction markets'.

Hayden then built it and DEXs became core infra of DeFi where price discovery happens, LPs farm, and ppl can trade without KYC.

What if the new idea by Vitalik becomes a new Uniswap? Or in this case Aave?

He proposes DeFi without liquidations, built on options instead of debt.

How it works in practice:

Today on Aave you deposit 1 ETH at $1.5k and borrow $1k USDC.

If ETH dumps too much (likely lol), a bot sells your ETH with a penalty.

The whole system depends on real-time oracles being correct every second. Late liquidations incur bad debt.

In Vitalik's design your 1 ETH splits into two tokens: a 'stable dollars' token and an 'ETH upside' token.

- Borrowing: sell the stable token for cash, keep the upside token.

If ETH dumps you just lose the upside. No liquidation bot and no penalty

- Stablecoin: hold the stable token.

Worst case it slowly turns back into ETH rather than depegging overnight

- Leverage: buy the upside token. Max loss is what you paid and you can't get liquidated

It works like buying a call option: you pay once upfront, that payment is the most you can ever lose, and a temporary price wick can't liquidate you since only the price at expiry counts.

The two tokens always add up to 1 ETH, so the protocol can't end up with bad debt.

And the price oracle is only checked once at expiry so slow prediction-market style oracles are enough, no real time price feeds.

Since positions expire you have to roll them. But this creates new DeFi products like Pendle-ish vaults that automate the rolling for a fee.

This design removes cascading liquidations from DeFi lending.

Gotta keep an eye on it.

[vitalik.eth @VitalikButerin]

Looks like the options thing is happening already!

See also: various people thinking through and building different versions of the idea in the thread: https://t.co/gFNEvCbHct

Though I do strongly urge that if any of these get on mainnet quickly, we formally verify it first. I hope @vyperlang and/or https://t.co/OMFlWRqJda folks ( @Fricoben) can help!

(Also, now is a good time to be thinking about robustness-optimized oracles)
https://t.co/j1dxLV4Pn4

[Conner Swann @YourBuddyConner]

you have 6 weeks to train your mom to get this meme. thanksgiving is the final exam

[phonsoswag.idiot 🔮 @phonsoswag]

Discovered my Gas ID via ETHGas - turning my gas spend into rewards 🫘

As a Teen Jack, I've spent 1.1403 ETH on gas but earned 640 Beans back.

Get your Gas ID and Beans here: https://t.co/c3wCPTb6dc

[akoros28 bio/acc 🧩 @akoros228]

How degen are you on-chain? Pull your @Housebets card, find out — and there's something in it for you. @HousebetsWhale drop my card. Use my code: PrimeOracle89 🃏

[DoctorDeFi @DoctorDeFi]

SODAX is the kind of infrastructure people will soon use without even realizing it.

It tackles two of crypto's biggest problems: fragmented chains and fragmented liquidity, with Sonic powering the infrastructure behind it.

[iMorgan @infinSai]

预言：未来发生一件严重的预言机UMA恶劣操纵/投票攻击，倒逼Polymarket TGE以$POLY 为抵押。

这更合常理？

[Kirill @ooxkir]

🔥🔥🔥

[matoken.eth @makoto_inoue]

The first @ETHGlobal Tokyo hackathon submission for @ensdomains came with demo video with theme song. New era of the hackathon just began!!

[PILOT 👨🏻‍🚀 @cryptopilot16]

" The cowards never started, the weak died along the way. Guess that leaves us. "

[zombobreaker.eth @zombobreaker]

$RSR iykyk

[Polenta @thepolenta]

500$ a day

thank you @MysticDAO

🔮

[bitSaitama @bitsaitama]

wise words

[Rahul Shankar @rahshank]

niche normative determinism simulation theory (cc @visakanv )

[J W @Jdub2562]

I just claimed 3,000 diamonds on @dyli_io with my Abstract XP.

Check your tier and claim yours:
https://t.co/X3ilnE8VT0

[detoo, no longer aligned @Detoowang]

monumentally mad(bo)ring
#P1 #F1 @MattP1Tommy

[Aaron Guan @aaronguan]

10/10 day

[VS @TopVS999]

🔥 6,3 МБ и 10 микросекунд старта — это не характеристики флешки из 2005-го. Это fx, новый агент программирования от Vercel, который решил показать Node.js и Python, кто здесь главный.

Пока конкуренты наращивают вес и требуют ресурсов, Vercel идёт в обратную сторону: минимум железа — максимум скорости. В мире, где холодный старт функции убивает UX быстрее любого бага, 10 микросекунд — это не маркетинг, это архитектурное решение.

💰 Если fx реально выдержит нагрузку в продакшене — разговор о «стандарте» станет не вопросом, а фактом. Следим.

👉 https://t.co/jMNYnL12gd

#Vercel #fx #AIагенты #разработка

[Viktor @VityaCrypto]

MONAD BOXES 🎁

[OneGweiToday.6529 @OneGweiToday]

We shall be here making our mark, as river on rock over the eons

Happy Birthday The Memes

https://t.co/k98rGHOU5N

[Webb @webb5008]

Why are the Rams kicking in OT? Didn't we learn last night that defenses get gassed when they are on the field last?

[playa3ull.eth @darkhorseguy]

$XDC $XSP Now we got USDC in $XDC, how is the TVL growing these days in @XSwapProtocol ?