keyneom

[keyneom @keyneom]

Ethereum is eating up government debt through stablecoins, but it onboards the world in doing so. Then it gives people the power to quickly transition from dollars to eth trustlessly and thus almost instantly become the new world reserve asset.

We aren't locked in the room with stables. They are locked in the room with us.

[Ray Dalio @RayDalio]

Now that the budget bill has passed Congress, we can see what the projections look like for deficits, government debt, and debt service expenses. In brief, the bill is expected to lead to spending of about $7 trillion a year with inflows of about $5 trillion a year, so the debt, which is now about 6x of the money taken in, 100 percent of GDP, and about $230,000 per American family, will rise over ten years to about 7.5x the money taken in, 130 percent of GDP, and $425,000 per family. That will increase interest and principal payments on the debt from about $10 trillion ($1 trillion in interest, $9 trillion in principal) to about $18 trillion (of which $2 trillion is interest payments), which will lead to either a big squeezing out (and cutting off) of spending and/or unimaginable tax increases, or a lot of printing and devaluing of money and pushing interest rates to unattractively low levels. This printing and devaluing is not good for those holding bonds as a storehold of wealth, and what’s bad for bonds and US credit markets is bad for everyone because the US Treasury market is the backbone of all capital markets, which are the backbones of our economic and social conditions. Unless this path is soon rectified to bring the budget deficit from roughly 7% of GDP to about 3% by making adjustments to spending, taxes, and interest rates, big, painful disruptions will likely occur.

[keyneom @keyneom]

@barnabemonnot @adietrichs @ethlabs_org Very happy to see it 🙇‍♂️

[keyneom @keyneom]

@pintail_xyz @hanni_abu I prefer native collateral to native LST and I think it would do a better job of preventing a single LST from taking over

[keyneom @keyneom]

@mert AI gives Ethereum development a big edge over others

why? because Ethereum already has the larger network effects and so increased dev speed means Ethereum can adopt significant technical improvements before competitors have time to win over users to their chain

[keyneom @keyneom]

>Showing that API would be a much more accurate way to present what a cross chain call looks like. You could hide anything behind a simple, higher level abstraction.

I'm not sure I agree. The ability to make cross-chain calls with this kind of abstraction is I think unique in the ecosystem. If the expectation is that the average dev is writing code like this to execute a cross-chain call, then this seems the most accurate way to present that. The docs give the details on the inner-workings. Sure, if the target audience is creating new rollup primitives this doesn't convey the concept accurately for them. But for app devs? Seems pretty accurate--write your contracts the way you already do

[keyneom @keyneom]

@toly @dcbuilder Would ePBS change your opinion on that?

[keyneom @keyneom]

Ngl, this sounds like you're asking Base to become a Solana L2 of some kind and that you expect them to be Solana aligned in order for it to be good for Solana developers.

That sounds like it would be good for Solana validators but I'm not clear why that would be better for Solana devs. Maybe I'm missing why it's better for devs though, can you explain?

[keyneom @keyneom]

Only L1 right now.

DA Builder is like a high-speed commercial train loaded up with shipping containers from a bunch of different companies so they all share on shipping costs and get to send crates more often than they would have otherwise since they don't need to fill an entire train and don't all have to pay for a separate train engine.

Full Send is letting you as an individual add your package to the DA Builder train so it gets shipped with the same high-priority as the important commercial stuff.

[keyneom @keyneom]

@IronRedSandHive @mteamisloading @jarrodwatts @Spire_Labs Full Send is free, and DA Builder only keeps a portion of the money it saved you by using it. So neither cost you anything to use

[keyneom @keyneom]

@pumatheuma @roc_camera Finally!

https://t.co/OJaBYpVAgL

[keyneom @keyneom]

@balajis I thought the easiest targets would be news agencies and security camera companies. Works way better for evidence in court if you can prove the video is unaltered

[keyneom @keyneom]

@lightcoin @apoorveth @0xprivacypools I'm not positive whether privacy pool forces you withdraw the entire deposit all at once or not but I'm guessing it doesn't. The anonset would normally be anyone with a deposit balance equal to or greater than the strange withdrawal amount.

[keyneom @keyneom]

Lots of things can be yield bearings assets. Like real estate. But that doesn't mean you can take a house and immediately turn it into cash at the register to pay your groceries. So the association in Ethereum is problematic because it establishes a poor understanding of the contract terms and an inaccurate social contract for staking. You have an opportunity to earn yield but it is a unique asset with it's own characteristics that you need to be cognizant of prior to investing otherwise you could lose a lot of money.

[keyneom @keyneom]

Why doesn't basescan show when a transaction/block has been included in an L1 batch? Arbiscan shows the number of L1 block confirmations.
@base

[keyneom @keyneom]

@CantelopePeel The analogy is poor imo. Understanding contract terms is crucial. Withdrawal restrictions on a savings account would break its social contract, but CD restrictions are less surprising. Staking isn't a savings account. Treating it as such is problematic. LSTs on the other hand...

[keyneom @keyneom]

@polymutex Do you know if any wallets intend to allow for users to delegate to any 7702 implementation or even just move to a whitelist of allowed delegation contracts? A little frustrating (though understandable) that they only allow for their own.

[keyneom @keyneom]

@hubkotl @grvt_io @zksync @extendedapp @Starknet @Lighter_xyz @paradex @OrderlyNetwork @Optimism Have they (Hyperliquid) ever given the rationale for why they chose not to be an L3/L2?

[keyneom @keyneom]

@mteamisloading Ah, I see. Yeah, I was thinking relative to the shortened blocktime at same gas/s

[keyneom @keyneom]

@mteamisloading This but it's mainnet and the NFT isn't for free transactions it's for fixed blob pricing for X months until the NFT forcibly goes up for auction again 😄

https://t.co/2z44ePx0OQ

[keyneom @keyneom]

@jon_charb I could respect this take if you didn't call Bitcoin a special snowflake, otherwise it feels like XRP army flak just coming from a different faction.