dfdzfcf

[Stani @StaniKulechov]

What he forgot to mention is that Morpho can charge fees at the market level, allowing it to capture the economic value created by curators without bearing the cost of risk management.

This means markets are neither neutral nor ownerless. Curators invest in building liquidity and managing risk, but Morpho retains the ability to extract a share of the revenue, compressing curator margins and accelerating competition toward zero profitability.

This creates a fundamental misalignment: either Morpho monetizes and competes for the economics generated by curators, or it doesn't and must sustain its business through other revenue sources once incentives run out.

Curators should own their market economics and capture fees from both lending and borrowing. Otherwise, they're building businesses on infrastructure that can tax away their margins. Full stop.

This is why Paul is spooked about Aave V4.

[TEMU @TEMUonBASE]

All in @Stonks_Exchange coins

[Wei the dog @Weithedog]

Wei the dog is live on @base

Buy $WEI get $ETH rewards to holders so @cobie could ring his family back from Earth.

0xd47Bdd392deF5eEBD46A1d8ebb234D28A2087321

Launched on @Stonks_Exchange
Rewards by @Stockify_fi

[dfdzfcf @dfdzfcf48504]

@JohannKerbrat So stupid that you dont add the protocol you use yourself, ETH

[Ethlabs @ethlabs_org]

Today, Ethereum market infrastructure became ~30x faster.

[dfdzfcf @dfdzfcf48504]

@overtake_world daam

[Paul Atkins @SECPaulSAtkins]

My thanks go to everyone who put so much effort into the CLARITY Act— across the Administration, Congress, investors, and innovators. Our collective conviction that America must continue to lead is indispensable.

I have been unequivocal: with or without legislation, we will act decisively within the SEC’s statutory authority to deliver certainty for American investors and for the entrepreneurs shaping our technological future.

Stay tuned.

[Victor @VicNY13]

@AltcoinDaily Now let’s respond in November!

[Stellar | Meridian Oct 28-29 @StellarOrg]

Now live from @MoneyGram, @raincards, and @crossmint: The MoneyGram card.

Powered by Stellar.

[Robbie Ferguson | Immutable @0xferg]

Big congrats to our Audience customer, Needle in a Haystack Simulator, for going viral last week:

40 million impressions in 48 hours.

What’s most interesting is that this wasn’t a random “viral hit”

Over the last few months @NasNakarus and the @StudioBitDot team have been executing a deliberate strategy:

- 1. Create a large portfolio of high-interest game concepts

- 2. Test them as quickly and as leanly as possible, starting with small vertical slices posted on social media

- 3. If the concept doesn’t perform, kill the bet. If it does, only then do they double down with more resources

Needle in a Haystack Simulator really, really performed.

Once the game went viral they reached out for @Immutable's support on this aspect as well, and we had them a custom landing page live in <48 hrs.

There's still tons of work to be done up to launch, but excited to see how far they can take this.

More coming soon.

[Ethereum Institutional @ethereuminsti]

It was a busy summer for @ethereum.

→ @RobinhoodApp Chain, an @arbitrum Orbit-based Ethereum L2, launched and passed $1B in TVL within 6 weeks.

→ @Revolut, Europe's largest fintech with 80M+ customers, announced EURR, a euro stablecoin issued by Bridge and live on day one on Ethereum.

→ @jpmorgan Asset Management's two tokenized money market funds, MONY and JLTXX, grew to over $800M combined on Ethereum mainnet.

→ @CreditAgricole launched EURXT, a MiCA-compliant euro stablecoin issued by @CACEIS on Ethereum, first used to settle a subscription into a tokenized @Amundi_FR money market fund.

→ SBI issued JPYSC on Ethereum, Japan's first trust-type yen stablecoin, built with @StartaleGroup and issued by SBI Shinsei Trust Bank.

→ @openstandard confirmed Open USD will launch on Ethereum on day one, 140+ businesses partnered here already including Visa, Mastercard, Stripe, BlackRock and BNY.

→ @BlackRock launched Ethereum-based OnChain Shares of its Select Treasury Based Liquidity Fund (BSTBL), with @BNYglobal serving as transfer agent and tokenization provider.

→ In parallel, it introduced BRSRV, a tokenized money market fund built for digitally native institutional investors and stablecoin reserve use cases, serviced by @Securitize.

→ The day after BSTBL and BRSRV, @BlackRock announced it is tokenizing share classes of its European Institutional Cash Series money market funds on Ethereum, representing $311B in assets as of June 30, in partnership with Kinexys by J.P. Morgan.

→ @neubergerberman launched its first tokenized fixed-income fund, HINC, serviced by @Securitize and live on Ethereum.

→ @MorganStanley launched MSSE, an Ethereum ETP that stakes a portion of its holdings and passes the rewards to investors.

→ @Fidelity filed to add staking to its Ethereum ETF, covering nearly all of the fund's ETH, around $898M at filing.

→ ethereum:native moved from roughly $1,560 on July 1 to around $2,450 at the end of August.

→ Three new nodes joined the Ethereum ecosystem: @ethereuminsti, @ethlabs_org , and @eth_systems; all focused on Ethereum adoption.

Ethereum is the home of onchain finance.

[Ethereum @ethereum]

Expanding access to locally-denominated stablecoins will accelerate global economic integration.

Welcome to Ethereum, @Revolut.

[Robbie Ferguson | Immutable @0xferg]

Introducing Immutable Audience: the growth engine for pre-launch Steam games.

(btw we didn’t spend $50k on a viral launch agency - so if you think this is cool just share it for free i guess)

Game marketing is broken.

Every year PC studios spend billions to grow their games, and yet:

- they don’t know which channels are actually working
- only a fraction of wishlist sources can be tracked
- of those people who DO wishlist games, the rate of those who go on to purchase is falling

After 8 years building games ourselves, and working with over 700 studios, the need for something new was obvious.

So, we built Audience.

How it works:

1. Audience pulls in real time data from your players across Steam, social media, ad platforms, influencers and more

2. It stores this marketing data in your player CRM, and uses our Enhanced Attribution to identify the one channel driving 80% of your wishlists

3. Finally, it generates a custom growth audit, reviewing your real time data against winning strategies from hundreds of games to identify the most effective ways to get you wishlists each week

During Audience’s beta we’ve already seen incredible results.

We helped one game grow by over 300k wishlists in 2 months, and then more than *doubled* the rate of those players who converted into paying customers, compared to relying on Steam alone.

For the last few months the team at @Immutable has been heads down building.

We’re incredibly grateful to our community for your support as we onboard the world. Slowly, then all at once.

To celebrate the launch, we’re offering one month of Audience for free to any studio that signs up by commenting on this video.

And for the first 100 studios that comment, we’ll create you a custom growth plan for free.

Comment “Audience” and we’ll send it through.

[Derek Chiang | Ethlabs @decentrek]

Ethereum gets criticized a lot for "overinvesting" in security and decentralization. But one way to make sense of this "overinvestment" is to view Ethereum as "the system of systems."

Ethereum wants to run the world's financial system. In the future, it may also run the world's identity system, or even governance. And within these mega systems, there are smaller systems such as DeFi protocols and DAOs. In short, Ethereum is a system that hosts other systems.

What makes a system good for hosting other systems? Let's start with the observation that it's really hard to build a secure system on top of an insecure one. You can develop the most secure DeFi protocol, formally verify it and everything, but if the underlying chain can be easily attacked and re-orged, there's really no meaningful security guarantees you can offer to your users.

Similarly with permissionlessness. Imagine you built a totally permissionless DeFi protocol that anyone can use. Well, it can really only be used by anyone who can access the underlying chain. So if the underlying chain is permissioned or can be easily censored, it doesn't matter how permissionless your protocol is.

On the other hand, if the underlying chain is permissionless, you are free to build more permissioned protocols on top -- just enforce permissions with your smart contracts. That's why enterprises are able to build on Ethereum in practice, despite needing to enforce permissions.

Therefore, a good "system of systems" is one that provides an extremely high degree of security and permissionlessness, so that the systems on top don't get compromised through the underlying system, and so that they can be as permissionless (or permissioned) as they want to be.

Ethereum will host the world's most important systems. That's why it needs to be extremely secure, decentralized, and permissionless.

[Toñin @Tonin_eth]

Gaming tokens in 2026:

$IMX —&gt; $223M
$RON —&gt; $39M
$ENJ —&gt; $49M

Meanwhile $APE, $MANA or $SAND are still sitting comfortably above $120M.

So apparently the market prefers the memory of gaming over actual gaming ecosystems.

Very healthy. Very rational.

[Justin Drake @drakefjustin]

Goodbye, Poseidon!

An epic 8-year, 8-figure rabbit hole in post-quantum cryptography reaches its dream conclusion. The Ethereum Foundation is abandoning Poseidon for L1, pivoting to SHA or BLAKE. This milestone unlocks ultimate security for lean Ethereum and foreshadows a golden era of hash-based cryptography.

Since 2018, the Ethereum Foundation has invested in magic cryptographic bricks, so-called "SNARK-friendly hashes". In 2019, Poseidon was born. It held strong and became the dominant SNARK-friendly hash, securing billions via zkrollups and zkVMs.

In a stunning reversal, breakthrough SNARK designs show that SNARK-friendly hashes aren't necessary after all. Off-the-shelf traditional hash functions like SHA2 and BLAKE2s can now match Poseidon in a SNARK. In hindsight the key was not SNARK-friendly hashes, but hash-friendly SNARKs.

The secret is doing maths over the smallest prime number: 2. So-called "binary fields" natively speak the language of bits, aligning with the boolean operations inside traditional hashes. This is a stark departure from "prime fields", where awkward large-prime arithmetic makes bit manipulation painfully expensive.

We're talking sci-fi cryptography. 1M traditional hash calls proven per second, on a laptop. Just 100x overhead vs native CPU boolean compute. Nobody predicted such performance, not even the handful of binary-field visionaries. Hat tip to the research geniuses: Jim and Ben with Binius in 2023; Ron, Benedikt and William with Flock in June.

With SHA2, the lean aesthetic of minimal assumptions reaches its climax. The EF's principled stance on pure hash-based cryptography has aged like fine wine. We now enjoy foundations the world can trust for decades and centuries, foundations worthy of the dream of an internet of value.

Speed of deployment is a secondary win. There's no longer a need to wait years for Poseidon cryptanalysis to bake. Emile and Thomas from the EF post-quantum team are moving at breakneck speed with binary fields. The strawmap now points to a production-grade leanVM in 2027, with CL, DL, EL deployments in 2028.

As AI becomes exceptional at cryptanalysis, the contrarian bet to avoid riskier structures like lattices and isogenies is visibly paying off. The past weeks have been brutal. Lattice-based "HAWK" and isogeny-based "SQIsign", both signature schemes in NIST's Round 3, have suffered blows. Sources I trust say more blood is coming.

On AI, the open autoresearch trend kicked off by ECDSA[.]fail is spreading fast, with amazing outcomes from zk[.]golf and SNARK[.]fast. Days ago SNARK[.]fast crossed 1.8M BLAKE3/sec proven on an M3 Max. Stay tuned for fresh autoresearch challenges dropping tomorrow.

Also tomorrow: Ethproofs call #10, dedicated to binary fields. Possibly the most noteworthy Ethproofs call yet. Experts leading the charge will present the future of hash-based SNARKs at 2pm UTC. What an incredible time to be alive. To witness history, DM me for a calendar invite :)

Today I can confidently claim that hash-based cryptography has won out for blockchain post-quantum signatures. SNARK succinctness compresses arbitrarily many signatures into one small proof per block. SNARK flexibility yields k-of-n threshold signatures, complex multisigs, and more.

Ultimate security. Uncompromising performance. Full programmability.

Believe in something. Believe in hashes.

[dfdzfcf @dfdzfcf48504]

@StaniKulechov daam

[dfdzfcf @dfdzfcf48504]

@TedPillows Proof?

[Michaël van de Poppe @CryptoMichNL]

$AAVE is one of those protocols that consistently kept building.

I've started my journey in #Crypto in 2017 and I can honestly say that I admire @StaniKulechov for what he's been building.

It's more than ten years now since his vision started, and only to be thinking of DeFi back in that period of time is insane, let alone building it through all the challenges.

I believe that $AAVE is on the verge of becoming that DeFi Layer for finance, as we're about to face a big adoption curve in terms of growth.

I'd courage everyone to watch the episode.

[dfdzfcf @dfdzfcf48504]

@Immutable @Earthwisegames hmmm