Markus_bidding_54

DeFi/MEV/Hating

👨‍🦯‍➡️@tplus_cx founder
🧑‍🦯‍➡️@blend_capital contributor
🏦 $500/m
👶 $15/m

[Markus_bidding_54 @markus_]

Long form explanation of t+, why it exists, why we're excited about it, who we are

For those that missed my talk yesterday

[Markus_bidding_54 @markus_]

This PA makes sense. You can buy spaceX at 2 trillion dollars or you can get swiss cheesed by a racist robot. People need liquidity

[Markus_bidding_54 @markus_]

AI IPOs are undervalued

Markets not pricing in our future ai overlords shooting sellers in the head

[Mikerah @badcryptobitch]

@GokuYoppy Intel vs random shitcoin project

Your choice

[Markus_bidding_54 @markus_]

@badcryptobitch @GokuYoppy Damn I’m gonna start using this

[CIGS INSIDE 🚬 @EthBushwick]

Sunday 6/7

[Markus_bidding_54 @markus_]

@charcoded Yup, I always put mine in the squat rack, right where they belong

[Markus_bidding_54 @markus_]

AI IPOs are undervalued

Markets not pricing in our future ai overlords shooting sellers in the head

[Markus_bidding_54 @markus_]

Because then the reader wouldn’t have to go through them mental exercise of wondering what best execution actually means - coming to the realization that it’s impossible to have an accurate measure of it - and that the logical conclusion is you need a competitive hyper efficient marketplace that allows your counterparty to express their edge and provide you with a better fill

No one learns if you give them the answer charco

[Markus_bidding_54 @markus_]

Chat what is best-ex?

[Austin Campbell @austincampbell]

There is no reason PFOF or MEV should exist in modern markets. We can have transparent guarantees of best-ex for small orders (block trades are a different issue).

The losers here are retail, and our regulators have tolerated it for too long.

[Markus_bidding_54 @markus_]

@lazersays Bro you ordered 8 boxes of zhong hua brand baby formula, 7 boxes of seven star brand baby formula, and 5 boxes of green panda brand baby formula

Cool ass babies

[Markus_bidding_54 @markus_]

NYC next week

Lmk if you want to discuss orderflow execution, market microstructure, and prime exchanges

Or we can just smoke Chinese cigarettes

[Markus_bidding_54 @markus_]

@gregthegreek @magicponzitoken Oh, coinbase pro if that's what you meant by which product

I was also shocked - excess dispersion is pretty interesting (does not include fees)

[Markus_bidding_54 @markus_]

presented without comment

(well one comment, coinbase data is fascinating)

[Markus_bidding_54 @markus_]

@gregthegreek @magicponzitoken eth-usd

basic tier default. Large or excellent drift adjusted markout trades assume vip

Funding is irrelevant here (0.1 bips for hourly)

Added a usdc/usdt adjustment which makes coinbase better - I'd argue that you shouldn't be adjusting (user doesn't care about the stable)

[Markus_bidding_54 @markus_]

yep! chains are venues

There are two perspectives here that I conflated a bit

For an exchange -

If you're offchain and want to list a new market you need inventory and liquidity inside your box, that's a cost per new pair
(worth noting it's operationally impossible for a cex to launch AMM order types - coinbase is probably closest and...)

If you're onchain and there's already liquidity for the pair on your chain you get it for free since you compose with it

For an issuer -
yeah it's structurally similar since you need to seed inventory and liquidity in every isolated venue you want your asset in, main difference is onchain liquidity is permissionless so it's a better first option and sometimes also has better distribution

[Markus_bidding_54 @markus_]

@0xQuintus @buffalu__ @WhiteWhaleLabs yeah the onchain LP still costs money to seed - but the difference is instead of having to pay for liquidity and inventory accross N exchanges you just seed one source and everyone onchain can hit it

[Markus_bidding_54 @markus_]

@0xQuintus @buffalu__ @WhiteWhaleLabs because I don't need to get assets or liquidity into my closed box. I just slam the LP that the team already launched

(tplus mentioned etc etc)

[Markus_bidding_54 @markus_]

@0xQuintus @buffalu__ @WhiteWhaleLabs sourcing inventory and liquidity is expensive

[Markus_bidding_54 @markus_]

@1cashtracker nah prob not - few open beds elsewhere

[Markus_bidding_54 @markus_]

@1cashtracker come to mexico already