Roy Learner

prev. @hiFramework

[terence @terrry]

Builders no longer have to fight to borrow against the companies they built

This should have existed 15 years ago

Sorry for the delay

[Dennis Dinkelmeyer @DennisMidas]

I am proud to announce our $50M Series A, co-led by @RRE and @Creandum.

Last year, we issued nearly $2B of assets onchain, growing 100x within a 9-month period.

But those numbers only tell the polished half of the story. Finding organic product-market fit in a relentless, 24/7 industry is anything but easy. Building here requires navigating a complex labyrinth where finance, technology, law, and (to some degree politics) constantly intersect.

At @MidasRWA , our mission is to bring financial assets onchain. We are doing this by building infrastructure rooted in the core tenets of liquidity and transparency, to create onchain investment products with actual composability and utility.

I believe we are at an inflection point. With the new SEC chair saying that “all markets will be onchain within two years” - a stark contrast to past rhetoric - it opens a clear gateway for institutional and individual capital to come onchain.

We have built a world-class team equipped to make it happen. Day in and day out, we roll up our sleeves and get to work.

[Roy Learner @RoyLearner]

@duelinggalois 👀👀

[Roy Learner @RoyLearner]

@sidrmsh 👀

[Roy Learner @RoyLearner]

@brettharrison @Architect_Fi congrats!

[Sky @SkyEcosystem]

Sky Frontier Foundation released its first State of Sky Ecosystem report, a 2025 year-end analysis of Sky Protocol.

Highlights:

• Stablecoin (USDS) supply +86%
• $168M annualized protocol net profit (+24.4% YoY)
• Operating expenses down 61.5%
• Buybacks: $367K → $92.2M

[Daylight @daylightenergy]

We are announcing the start of the GRID Games with the launch of DayFi pre-deposits.

Opening December 16th, 8am ET (1pm UTC)

gday

[Sky @SkyEcosystem]

The next Sky Community Call is happening tomorrow, Thursday, December 4th, at 7:00 PM UTC.

Join our host, Rajiv from Viridian, for a special session to cover:

• Deep dive and Q&A on Obex with @parkeraedwards, Director at @obexincubator.
• Weekly ecosystem highlights.
• Sky dashboards walkthrough.

Don’t miss out, join us at the Sky Discord Server.

[Derive.xyz @DeriveXYZ]

https://t.co/4eec5Cti5G is the institutional-grade decentralized options exchange. 5+ years live, zero security or insolvency incidents. Self-custody with CEX-level execution.

TL;DR:
Self-custody. Deep liquidity. Lowest fees.
Built for funds, desks, miners, institutional hedgers, and volatility traders.

Why traders choose Derive:
➤ Institutional-grade execution: Sub-ms latency, 20m TPS
➤ Self-custodial & permissionless: Zero custody risk
➤ Lowest fees: Top-tier maker/taker [-0.5bp / 0.75bp]
➤ Deep liquidity: FalconX + top-tier Market Makers
➤ Block RFQ: Competitive pricing for large size
➤ Portfolio margining: Capital-efficient cross-asset margin
➤ 18+ collateral types: BTC, ETH, staked assets, yield assets
➤ Regulated MPC custody: Fireblocks, Anchorage, Copper, and ClearLoop-style mirroring

Read the Full Story:
Why Trade on https://t.co/4eec5Cti5G

We are Derive XYZ (formerly Lyra), the largest self-custodial options exchange, often described as “Deribit onchain.”

Derive has processed $18B+ in notional volume, generated over $6M in revenue, and bought back more than 1% of the token supply from said revenues. We currently hold about $500M in open interest, primarily in options, and deliver CEX-level execution with the advantages of self-custody and institutional MPC custody via partners like Fireblocks, Anchorage, Copper and more.

Live for over five years without a security or insolvency incident, Derive is seeing accelerated growth following the Deribit sale to Coinbase; particularly from Asian desks seeking a neutral venue.

Liquidity is top-tier, supported by FalconX and other major market makers. RFQ provides highly competitive pricing for large block trades, while orderbook liquidity continues to deepen.

Derive is also rolling out altcoin options, already supports a broad range of collateral types (+18 collaterals) that CEXs don’t have. Institutions want to harvest volatility consistently through options - Derive is that venue.

Our key advantages

Seamless onboarding
It’s fully self-custodial and permissionless. Onboarding takes less than 5 minutes. Leveraging smart contracts, Derive enables settlement of options contracts between counterparties with no intermediaries, legal agreements, or clearing-houses. You simply need to send such parties a link with the trade, and that flow will route 100% to you.

Low Fees
We provide lower fees than Deribit, and our new institutional fee tiers are 33% better than the main competitors. Specifically, our top tiers for maker/taker on the OB is [-0.5bp, 0.75 bp].

Transparency
Everything is transparent. All margin rules, liquidations, and risk parameters are publicly verifiable; no hidden mechanisms. Unlike centralized exchanges, you are in control of your funds on Derive. As a decentralized exchange, you have full custody and control of your collateral and positions. Derive can never seize or misuse your funds. Additionally, our system handled the 10/10 event exceptionally well, proving the robustness of our risk management.

Premier Custody Solutions
Institutions can engage via regulated custodians (Fireblocks, Anchorage MPC wallet (proto), or controlled WalletConnect access.
For large users concerned about depositing tens of millions into a smart contract, we offer ClearLoop-style mirroring to maintain security while enabling onchain exposure. Simply put, the way this works is that these assets can be held on a cold wallet and a feed of this balance (read onchain) will be used to inform a “mirrored” (i.e. tokenized) balance of this asset on Derive.

Consistent Yield through VOL selling
With basis trades now yielding less than 1%, funds are moving up the risk curve in search of yield. Options are becoming the go-to product for that purpose. DATs and major holders are already using Derive to generate structured yield through volatility harvesting.

White-glove service
While we don’t expect users to fully migrate immediately, this is the ideal time to diversify; and we’ll do everything possible to make that transition seamless, and make sure you get a good fill on the RFQ.

Why options, and why now?
Options are traditionally the last market to mature. As crypto becomes increasingly institutional, that time has arrived. Derive dominates the onchain options category much like Deribit dominates CEX options.
Most competitors have failed or given up because building deep, liquid, onchain options infrastructure is extremely difficult. This creates a natural moat and a winner takes most market. Meanwhile, large CEXs have been too profitable to focus on something so complex. However, the Deribit sale is changing that landscape, and Derive is positioned to lead as the onchain category scales 100x.

https://t.co/4eec5Cti5G’s Product highlights
➤ Top-Tier Security: Fully self-custodial with a 100% on-chain, audited smart contracts & risk engine.

➤ High Throughput, Low Latency: CEX-quality performance for onchain options and perps.

➤ CLOB + RFQ: Trade spot, futures, and options through a fast orderbook and competitive block-trade RFQ system.

➤ Capital Efficiency: Portfolio margining, cross-asset collateral, and flexible settlement far beyond centralized venues.

➤ Onchain Transparency: All margin rules, liquidations, and risk parameters are publicly verifiable; no hidden mechanisms.

➤ Deep Liquidity & Best Execution: Hybrid RFQ/orderbook model ensures tight pricing and large-size fills.

➤ Diverse Strategies: Options, perps, structured products, fixed/floating-rate lending.

➤ Institutional Custody: Fireblocks, Anchorage MPC (Proto), and restricted WalletConnect flows.

➤ Low Fees & Incentives: Class-leading execution costs, rebates, and $DRV / $OP rewards.

➤ Institutional Support: White-glove onboarding, and custom custody integrations.

[Simon @0xSimonJones]

Ethereum has given the world a foundation of trust that no other system in finance can match.
Reya’s exists to extend that foundation to trading.

Recently we announced partnerships with @eigencloud and @ethena that anchor us deeper into the @ethereum ecosystem.

Today, we announced a token model that hardwires that alignment
- Protocol fees buyback $REYA and $ETH in a 80% - 20% split.
- Making Reya a systemic buyer of both as the product scales.
The most Ethereum aligned DEX in history.

All supporting the breakthrough we set out to build.
A trading venue that delivers 1ms execution with no single sequencer risk.
Speed that feels like TradFi, secured by Ethereum itself.

This is the holy grail of DEX design and it’s only possible as a based-rollup on Ethereum.

Fast is easy. Decentralized is hard. Only Reya is both.

[Michael Anderson @im_manderson]

1/ We just co-led a $37M round in Obex (@obexincubator), an incubator for institutional-grade stablecoin projects.

Equally big:

Sky will deploy up to $2.5 Billion of USDS into Obex-incubated projects that bring innovative/diversified yield back to the @SkyEcosystem.

🧵👇

[DFlow @dflow]

Quietly the dominant aggregator on Solana

[Immunefi @immunefi]

LISTEN UP DEGENS 📣

Shield My Bags v0 is live.

Are your DeFi bags safe, or are you not gonna make it?

Comment 🫶 to get access to the app and farm Shield Points.

How? Refer friends [100 pts/fren] and make sure to share your security score card on X.

Easy.

We’re still in beta, lots to build. New features coming soon.

[Immunefi @immunefi]

Immunefi token sale on @CoinList has liftoff.

5,100 registered participants making the future of crypto more secure.

Sale ends Nov 19, 17:00 utc.

Let's go.

[CoinList @CoinList]

What is @immunefi?
How do they stop hacks before they happen?
Who uses them?
And why are they launching a token?

Join us for a chat with @MitchellAmador, Founder & CEO of Immunefi, to break it all down.

🗓️ Wednesday, Nov 12, 4:30pm UTC
🔗 https://t.co/KzsxUgMbSl

[Immunefi @immunefi]

Balancer’s recent $100M exploit wasn’t about negligence or bad code.

It’s a reminder of the limits every protocol faces with today’s fragmented security stack.

Even mature teams using audits, bounties, and monitoring can still face blind spots because the tools don’t talk to each other.

Full write-up at Immunefi - https://t.co/8w6LU0X9nZ

[Roy Learner @RoyLearner]

love to see the @base ecosystem take security seriously, make sure to tune in for a great conversation with @immunefi

[Immunefi @immunefi]

In just 2 days, we’re hosting a fireside chat with the @Base security team to explore how Base is architecting its ecosystem with a Security by Design philosophy.

The second part of the show is an AMA for Base builders who have security questions and have ideas on what kind of support they need to make their apps great.

Make sure to join the Space and ask your questions on Nov 6!

https://t.co/zdfQARn3dc

[Immunefi @immunefi]

Recent Immunefi Wins Roundup

We are on an unstoppable trajectory.

Here are just some of our wins over the past week:

- The Immunefi token $IMU crowdsale launch on @CoinList, which has hosted sales like Solana, Filecoin, Near, etc.

- New Immunefi Magnus customers: @optimism, @synthetix, @Filecoin

- Immunefi achieves SOC II Type II certification, making us THE pick for institutions who need compliance

- Immunefi elected to the @arbitrum security council

- Immunefi Show Ep. 1 released, and it’s a banger

- Immunefi released a new whitepaper on how institutions can secure Digital Asset Treasuries

- The Hunt Points Program - for whitehats to earn big points for valid bug reports (guess what they’ll convert to…)

- Immunefi launches a $200K @rippleXDev XRPL Attackathon

[Immunefi @immunefi]

🚨 The Immunefi Foundation is launching its community token sale on @CoinList.

With the next decatrillion coming onchain, security will be the biggest market in crypto.

Sale goes live on Nov 12, 17:00 UTC.

https://t.co/mwSy3U3Uod

[Mitchell Amador @MitchellAmador]

I've seen over and over and over again that protocol longevity and adoption does not preclude serious, critical vulnerabilities; half a dozen ultra-fatal examples on famous protocols come to memory.

This is why we always, always, need to keep the disclosure channels open, continue cultivating interest in older, matured codebases, and continue adding new layers of protection and resilience to our attack surface. If we don't, this is the ultimate result.

Remember, attackers have infinite time. In the long run, we can never afford to bet against them. We must be constantly vigilant, and continually invest into our security, past and future.

This incident is no one's fault but the hacker, but it is a call-to-action for us all to raise the caution and security investment bar another notch up. We must all answer the call.

For me and Immunefi, that takes the form of the Immunefi Magnus Platform; we long realized that bug bounties alone would never be enough to secure the industry, so we decided to make it as easy as possible to discover, deploy, and run the entire stack of the very best security layers all at once.

This way every protocol and every web3 company would get the very best security money can buy on day 1, with the only barrier being their willingness to adopt.

This incident shows that we must accelerate the Immunefi Magnus vision even faster if we want to save crypto from the terrifying future hacks to come.