at this moment in time, it is extremely unlikely that the double spend bug that was recently patched wasn't already found by a bad actor
this is black swan event developing in real time
REVOLUTIONARY. I have brought @MoneroUSD to over 80,000 TPS on the testnet which is faster than @solana WITH PQ PRIVACY. I am flooding the testnet with 8000 transactions per proof. Don’t believe me? See for
yourself below.
https://t.co/hsSb2EOniB
https://t.co/avwBOGrjzj
@gialloxmr Exactly.
Before cow showed up I was discussing how beneficial it would be for someone to launch a spot xmr token on hyperliquid because the demand is vibrant and needed.
The risk profile diversifies beyond centralized swap services in every mainstream wallet like cake.
Threating the wagyu swap service and its sponsors like is a scam is unfair.
I said multiple times that if cow was more transparent from the start and not define his project as "decentralized and zero freeze risk" it would have gotten way more respect from the old community members.
There are similar products like Exolix or even Trocador that have been constantly promoted and sponsored, and they didn't get labelled as red flags by the community even if they do in fact have a freeze risk.
Also calling for the wagyu sponsors as shillers is unfair: in CT big accounts dump shitcoins on their followers constantly, and they get away with it.
They're instead promoting a legit product that highlighted the much needed better UX for Monero, and we all should take note of the success it had and why, instead of pointing fingers in a childish way just because it's not the perfect version of our dreams that Santa didn't deliver.
I get it: it's centralized and has a freeze risk. But also we proceed on using CEXs and similar protocols all the time.
It could be a honeypot and we'll know it only when that happens, until then is a service like a mix in between a CEX and a DEX.
I don't even use wagyu, but we should have respect for those who build on Monero and stop being so toxic preventively, it's really a bad look from the outside, it prevents even new devs from coming in.
Even the Thorchain guys are constantly under attack and critique. Nobody is perfect, let people do their thing. Pretending without doing nothing is immature.
It's good to critique and be sceptical, it is not to be toxic and repulsive, it shows lack of understanding and objectivity.
This is my view and is not sponsored
@exitnode_@xmr_jake The same issue that got joeIOs moneroOne wallet suspended has hit monerify, they blanket suspend accounts that are too similar such as just using the monero logo or similar names.
What actually is decentralization?
A common criticism I get is that "WAGYU ISN'T DECENTRALIZED!!"
Let me clear some things up for you guys.
YES WAGYU IS DECENTRALIZED.
Wagyu's matching is decentralized on @HyperliquidX, the orderbook and settlement is on-chain.
The only aspect that isn't decentralized is the XMR custody.
It's the only component that CANNOT be made trustless, Monero has no smart contract layer.
You CANNOT lock XMR in a contract on Monero the way you can lock ETH in a contract on Ethereum.
The moment XMR enters any programmable environment, the keys have to live off-chain. THERE IS NO OTHER ARCHITECTURE.
Nobody calls @aave centralized because it uses $USDC when the rest of the protocol is decentralized.
Wagyu uses the same model as every wrapped asset in crypto.
$WBTC is custodied by @BitGo
Wrapped ETH/SOL on every non-native chain has bridge contracts + permissioned mint authority.
$DAI itself markets as decentralized but it has 40-60% of its backing in $USDC plus tokenized RWA making up the rest of it.
The "fully decentralized" protocols aren't "fully decentralized" either.
All the L2s (@arbitrum, @base, @Optimism) run centralized sequencers.
After the @KelpDAO exploit, the Arbitrum Security council froze over 30,000 ETH on Arbitrum, a supposed "decentralized" L2.
@LayerZero_Core also assumed to be fully decentralized was compromised by having their RPC nodes hijacked and letting the attackers mint 100,000+ $rsETH.
Almost half of active LayerZero OApp contracts were running the same 1/1 config at the time of attack, nobody called LayerZero centralized before that.
@aave, @MakerDAO (now @SkyEcosystem), @Uniswap, @LidoFinance all have multisigs that can upgrade contracts or pause everything.
You cannot run these protocols safely without one.
Perps trading DEXs like @DriftProtocol and even @HyperliquidX all rely on centralized keepers, off-chain matching or both as well as multisigs.
Every one of the above markets as decentralized, because every one of them IS decentralized, in the components that matter.
If Wagyu isn't good enough, then WHAT IS?
The supposedly "pure" XMR alternatives like @bisq_network and @HavenoDEX use 2/3 multisig escrows with a human arbitrator.
And more importantly, they can't possibly handle the liquidity/volume that monero:native demands to bring it to the masses.
Atomic swaps to XMR exist but they require two online parties with sufficient liquidity to trade P2P and can take hours for a single trade.
There will never be a UX that competes with "deposit XMR, trade on orderbook to ETH and withdraw"
If Wagyu isn't good enough, then what is?
The comparison isn't Wagyu vs some imagined fully-trustless XMR perps platform that doesn't exist and CAN'T EXIST.
It's Wagyu vs Binance/Kraken and every centralized instant swap service. Those are FULLY CENTRALIZED with ZERO layers of decentralization.
If you can't see that Wagyu is dramatically more decentralized than anything else available on the market, you're delusional.
This is the best compromise for XMR to get real liquidity and real volume while keeping the rest of the stack as decentralized as possible.
The one component that requires trust is the one component that CANNOT be made trustless.
Wagyu is already #2 exchange for XMR after only a few months live with nearly $300m in volume done.
By far the best place to trade in and out of XMR right now, and the only one that doesn't require you to hand your coins to a CEX.
If you're against Wagyu then you're against the growth of Monero.
YES WAGYU IS DECENTRALIZED.
@thenarrator This could easily be a new section on X!
Accuracy score on different metrics like Community notes, past and present check-ins notifying users, and surely the same tools as prediction markets.
@elonmusk@nikitabier
They deny it because that’s what they think they’re supposed to say, but quickly default to the position that it’s “good actually” because white people bad. brown people good.
Even considering this truth is wayyyyyy farther ahead in the conversation because you have an inner monologue and this is the first time they have ever thought about it instead of living whatever the screens are telling them.
People are not actually conscious they are just empty bodies following whatever is being sent over the airwaves.
The biggest privacy upgrade for Monero in years is ready to be broken.
FCMP++ brings full-chain anonymity.
Time to do your part:
- Spin up a stressnet node. (cli below).
- Spam the stressnet.
- Find the breaking points.
Let's make it bulletproof before mainnet. 🏴