JUST IN: @SoFi's SoFiUSD supply has increased from $100M to $300M in five weeks.
The best place to find liquidity and user growth for stablecoins is on Solana.
Mutant rats have reportedly been found in sewers under major cities in the US
Researchers say they’re more resilient to rat poison due to new genetic mutations
A new electric truck is releasing with no radio or navigation and hand crank windows for under $25,000
It's being created by Slate Auto and features a DIY kit that transforms the two-seater truck into a five-seat SUV
.@Slabzapp on building on Solana:
"Solana is the best network, in my opinion. Speed, landing transactions, affordability. It's lightning fast. Transactions are milliseconds and they cost fractions of pennies."
"Our users don't even know they're onchain."
A common question we're getting on the Drift relaunch is: why is it taking so long? Why do you even need a 'relaunch' when it was already live?
One of the biggest decisions early on was: new program or reuse the old one? We decided to launch with an entirely new program/program ID. Why?
1. The existing program's state was in limbo after the hack. It didn't fully resolve the liquidations because the exploiter's collateral was never marked to 0. We wouldn't want to muddy that state, because it is needed to snapshot what everyone is owed.
2. Security is not something you can just strap on - it takes thoughtful design from the outset. Adding extra security means making breaking changes to on-chain state. Making these changes while providing a migration path for existing state is 10x harder.
An analogy - code is like a Jenga tower. Security is at the bottom of the tower. It is very hard to change the blocks at the bottom without toppling the tower. If the code is not in production, though, you can simply put the top part of the tower off to the side and fix the bottom.
Next. Why is it taking so long? Part of making a program more secure is lowering the attack surface. Over the years, Drift developers were forced to make less-than-ideal design decisions in order to not change existing code in a non backwards compatible way. In tech circles, we call this accumulating 'tech debt'. Now that the program needs to be completely re-audited from scratch, that debt not only adds heaps of time and cost to the audit schedule, it also increases the attack surface and makes the code hard to reason about.
Is this a complete rewrite? No. That would take far too long, and would be unproductive as it would lose all of the hard-fought lessons built into the existing code. Think of it more as mowing the lawn. It's overgrown, and there are weeds everywhere. I'm whacking the legacy problem sections I can find, and trying to make the code easier to audit. I'm not going to catch everything, or have time to fix all tech debt, but I'm fixing all of the top offenders.
I'll share more in later tweets of specific changes I've been making, as I want to be as transparent as possible.
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