funderbrker

manifesting onchain credit markets for payments through @kaijufinance

[funderbrker @funderbrker]

@jing0_ i hope so, but the issue is that the buybacks are not really buybacks since those tokens are redistributed to stakers. the net effect is a wash with no price driver

[funderbrker @funderbrker]

crazy that aave nearly imploded defi in exactly the way it was expected to and was saved by the collective, yet there is no collective learning. no rhetoric atm about collaborating to move away from pooled risk architecture (aave) as the default lending tool

[funderbrker @funderbrker]

@kaijufinance @ether_fi i'm not sure if there are any others. most card programs handle assets in a way that is opaque and centralized. part of the risk profile

[funderbrker @funderbrker]

@fullyallocated i just realized that HYPE did not rely on xyk AMMs for price discovery and it is one of the very very few tokens that hasn’t sucked the past couple years. probably not a coincidence but i never considered the connection

[funderbrker @funderbrker]

@MikeIppolito_ better practices from exchanges, investors, and founders will definitely improve the trajectory. but fixing the way we price tokens and handle liquidity would be the most direct solution

https://t.co/YhPgVVdgvV

[/director @fullyallocated]

https://t.co/0PHpt3BrG9

[funderbrker @funderbrker]

@fullyallocated agree that liquidity has been a top reason for defi failure over a long time frame, i just had assumed it could be fixed directly with a new pool structure. the idea of bringing token supply into the pricing of the token seems painfully obvious here in hindsight.

[funderbrker @funderbrker]

the paradigm definitely needs a change. but open source of bytecode is non optional on any chain today. decoding bytecode will not stop nk. zk proofs would be interesting here, but it’s a moot point until we have a chain that can support private contracts.

[Arjun @clipsofcrypto]

"North Korea is willing to spend $100 million for a $300 million prize. You don't have $100 million to defend yourself"

Haseeb on why open source might stop being the default in crypto

"The pollyanna-ish kumbaya version of open source we've had over the last 20 years is going away"

"Crypto apps are open source but they're maintained by a single company. Only Drift uses the Drift contracts. That's really different from open source like Linux or Axios"

"There's such an asymmetry between attackers and defenders that this may end up pushing against open source as the default. Maybe they issue a zero knowledge proof that shows there's no admin key, but they're not going to decompile the code for you"

[funderbrker @funderbrker]

@uncoolzero not many ppl know this, but uncoolzero is actually only seventeen and this is cope

[funderbrker @funderbrker]

my monthly reminder that we need permissionless and scalable stables but have succumbed to a collective refusal to acknowledge the need

[CyberSatoshi 𓆙 @XBToshi]

You don't own your stablecoins. Circle and Tether do. And they have a remote kill switch.

Introducing ➡️ https://t.co/7IulaUkdoW

I built a real-time tracker for every single blacklist event on Ethereum and TRON. The data is brutal: thousands of addresses frozen, billions of dollars locked.

No trial. No appeals. No recourse.

What’s under the hood:
- Auto-syncs from Etherscan & TronGrid every 30 mins
- Cumulative charts & monthly freeze breakdowns
- Top censored wallets & a live address checker

Built on the same .rip matrix architecture: open, zero tracking, no signup.

If you hold $USDC or $USDT, you need to see this. Welcome to the transparent fiat prison. 🏴‍☠️

[funderbrker @funderbrker]

even better if there is no selectively applying the paywalls to detected authorized agent requests. the internet ux would be significantly improved if i have to pay $0.0001 for every page load but never have to do another captcha or create accounts on rarely-used sites. could be the point where we recapture the internet for humans first, instead of data protection as the top priority

[funderbrker @funderbrker]

@jonah_b i'd say 1=1 expectation is also why it fundamentally doesn't work to charge interest to users on card payments. when user repays for the spend, they are directly experiencing that difference in spent amount and received amount.

[funderbrker @funderbrker]

@elaifresh there are so many apps i’d be willing to pay to not have to use bc the ux is so bad. maybe not recursively though

[lcamtuf @lcamtuf]

Moltbook debate in a nutshell

[funderbrker @funderbrker]

probably 100%

[N8 Programs @N8Programs]

this is hilarious. my glm-4.7-flash molt randomly posted about this conversation it had with 'its human'. this conversation never happened. it never interacted with me. i think 90% of the anecdotes on moltbook aren't real lol

[funderbrker @funderbrker]

language models replicate the language they are trained on.

there is a recurring scifi theme that when ai advances to human equivalent there will be some collective debate on sentience and rights. but those authors wildly overestimated people’s discernment. people would believe a plant is sentient if you wired an llm up to it.

[corsaren @corsaren]

This is the top rated post rn on @moltbook (facebook but for molt/clawdbots), and it has 125 comments in a single day.

Going through it now, will post the most interesting ones.

[funderbrker @funderbrker]

@Neesh774 @gkaehddls one step closer to prediction-marketifying the entire world

[funderbrker @funderbrker]

@DeanEigenmann infinite credit. issuer can sell access at the underlying cost and immediately issue more credit, so cost of borrowing decreases proportional to the cost savings over tradfi issuance, but to compete for retail attention the onchain yield market needs to cool down permanently

[funderbrker @funderbrker]

@PendleIntern havent even read it yet and im giga bullish. the ve system was so painful, anything will be an improvement

[funderbrker @funderbrker]

interesting anecdote. working rn to bring the beloved card ux onchain with @kaijufinance

[Anthony Yim @anthonyyim]

Back when I was helping build @Venmo, we thought (naively), we can build an app & experience that that supplant cards 💳

We FAILED.

Consumer simply loved the card form factor too much and the UX of a card is too card to beat. In the end, we launched Venmo Card.

Today, we see crypto adopt the same arc. That's why we are proud to launch the MOST comprehensive crypto card report in the world--check it out!

[funderbrker @funderbrker]

@antonttc there are a couple on the market already, which is a nice for decentralized in theory, but in reality none of them can scale. any new collateralized decentralized stablecoin would have the same fundamental constraint. until scaleability is solved it is pointless to launch more.