CavalRe

TradFi is broken and cannot be fixed.
DeFi primitives are fragmented and cannot scale.

It's time to call in the CavalRe. Rethink. Rebuild.

[CavalRe @TheCavalRe]

https://t.co/IHAvQ0ODcI

[Eric Forgy @EricForgy]

Hello my parasocial friends 👋

I'll be in NYC all this week (finally) learning about consensus and hanging around @PubKey as much as possible.

I'm happy to meetup, but you might get an earful about Multiswap 🤠

DMs open.

[Eric Forgy @EricForgy]

Here is a true multi-asset swap (single-interaction no batching).

Initial pool set up:
- 500K CAV
- 1400 ETH
- 3M USDC
- 3M USDT

The swap:
- Pay 2M USDC + 500 ETH
- Receive 50% USDT + 50% CAV

Price impact:
- USDC: -2bps
- ETH: 0bps
- USDT: +0.2bps
- CAV: 0bps

No other DEX. No propAMM. No CLOB can match this.

With a modest $21M in BTC, we can offer tighter spreads than @coinbase on their most liquid asset.

[Eric Forgy @EricForgy]

propAMMs can kiss my ass.

Here is a mixed pool with $3M USDC and $3M USDT.

For a $2M USDC swap, i.e. 2/3 of the entire reserves, there is -2bps on USDC and +6bps on USDT.

You simply are not ready for the new Multiswap model.

[Eric Forgy @EricForgy]

Oh my God. I love this so much 😍

Onchain hierarchical double-entry accounting in action.

[Eric Forgy @EricForgy]

@tempo This is also a core feature of Ledger.sol, a hierarchical accounting module built on double-entry accounting and forms the foundation for the upcoming new Multiswap model.

https://t.co/U7tmwnBdS7

[Eric Forgy @EricForgy]

"The thing I was missing, and the thing I think most traditional finance people miss, is that blockchain enables financial services to function in an adversarial environment where you know you cannot trust anyone. If you know you can trust your counterparty, you don't need blockchain. If you know you can trust your bank, you don't need blockchain. If you know you can trust your government to manage monetary and fiscal policy responsibly, you don't need blockchain. Blockchain enables capital markets to function in an environnment where you do not trust anyone."

[CavalRe @TheCavalRe]

@QuuxFoo @demirelo Vaults? No.

Multi-asset DEXs? Yes.

[Eric Forgy @EricForgy]

Major milestone ✅

[Eric Forgy @EricForgy]

https://t.co/kkwMyxtA7w

[Eric Forgy @EricForgy]

I give fairly regular updates and mostly build in public on my Discord (https://t.co/x7d2mfJ80T), but it is mostly a ghosttown 👻 Should I start building this amazing new DeFi primitive in public on X (especially since we're getting closer to launch)?

[Eric Forgy @EricForgy]

Almost there

[Eric Forgy @EricForgy]

LFG!

[Eric Forgy @EricForgy]

Some updates:
https://t.co/ZfoTjFwdcc

[Eric Forgy @EricForgy]

For a token launch with a conservative estimate of fully-diluted market cap, the initial price is largely psychological because we can set it based on total supply. For a grown-up protocol that wants to be taken seriously, what is a good starting price?

[Eric Forgy @EricForgy]

Hey there parasocial friends 👋

The upcoming Multiswap genesis pool activation (and concurrent token launch) will begin with a deposit phase and I need your input... 🧵

[Eric Forgy @EricForgy]

I think I got my Christmas miracle. The code for Multiswap is now complete. Now, its time to prepare for deployment and FINALLY put my business hat back on. LFG!

Been a hard fking 2 years...

[Eric Forgy @EricForgy]

Could an AMM lead price discovery and be more capital efficient than the largest CEXs?

[Eric Forgy @EricForgy]

Thank you @big_tech_sux for the nudge to build a @vyperlang version of my scientific-grade floating-point math library.

https://t.co/cPfUdrS3pD