I think this is a bad idea. Once a grant has been negotiated, executing the payment can take time. If ETH suddenly drops 20% during that period, it helps no one. The way to support the Ethereum ecosystem would be to use an ETH-based stablecoin, like RAI used to be.
A single court order just froze the entire confidential cUSDC token contract of Zama.
At Zama it hit mostly a hacker's funds, so it stayed clean.
But the real danger is what this means for every other privacy protocol: freeze the contract, freeze everyone in it.
Here's the problem. 🧵 1/6
@Plasma team has been cooking with P1.
Crypto abstracted to a minimum, the way it was always intended. Honestly, this is the first time I don’t feel like I am actually using a crypto product. Excited for what’s to come.
@river0x when do we get to invite friends?
3/ Next up: swap the custodial escrow wallet for @safe, add @moonpay on/off-ramp; the end state is users never know they're touching crypto. The design is a love letter to OG Windows 98.
Try it out, it ain't perfect.. yet
🌐 https://t.co/kk1JoHUDUT
💻 https://t.co/qgc9v8mdZE
1/ Over the past weekend I built BetPal with @lifiprotocol Earn; a Win98-style app where friend groups bet on Polymarket outcomes and the pooled stakes earn yield in a shared Morpho USDC vault on Base until the market resolves. Track: Earn & UX
cc @kenny_io
2/ Stack abstracts crypto away:
• @lifiprotocol Earn → vault picker
• @lifiprotocol Composer → one-tap deposit; any token on any chain straight into the vault
• @privy_io → self custody & server wallets
• @Polymarket → oracle for resolution