Michael Morrell

[Michael Morrell @michaelmorrell]

Monero could be coin of the year.

Thank you.

[u8 @atarashi]

Inspired by @haikane's chart, here's the Solana propAMM version

the vast majority -- 9 out of 11-- continued quoting (3 of 14 had already stopped quoting well before the hack)

mostly they continued beating the CEX's on the majority of trading volume even at top VIP tiers

[jussy @jussy_world]

Monero on Solana just pumped 30% in one day

Here is what happened:

- One LP pulled $285K of liquidity from the main XMR pool
- Then bought $48K of XMR
- Price went $690 → $813
- Then he put it all back, plus the XMR he bought

Now XMR on Solana is $763 and $649 everywhere else

[Michael Morrell @michaelmorrell]

Monero is a blue chip.

[Josu San Martin @josusanmartin]

The bankruptcy is going to happen much faster than I had anticipated.

[SolanaFloor @SolanaFloor]

News: $ORCA Up 84% As DAO Weighs Up Potential Credit Market Acquisition

✍️ @solace_fm

https://t.co/18XVUHvwvZ

[Michael Morrell @michaelmorrell]

xORCA is underrated

[Michael Morrell @michaelmorrell]

Source: https://t.co/YFE3b55RxJ

[Michael Morrell @michaelmorrell]

Phoenix keeps delivering.

[Phoenix @PhoenixTrade]

SOL is live as collateral on Phoenix.

Deposit SOL and use it to back perpetual positions directly across crypto, equities, and commodities. No USDC required.

Hold SOL. Trade anything.

https://t.co/qRsYg47iaP

[Tim Garcia @TimGarcia0]

Results are in
SGP 0001: The Solana Constitution - PASS
SGP 0002: Double Disinflation - PASS
SGP 0003: Resource and Inclusion Fees - FAIL

There is a lot to clean up with the governance process but it was definitely an exciting and important first set of SGPs. Thank you to @exo_solana @solanaturbine @micaiah_txtx @qtmoses and the NCN operators for all of the hard work.

[Eugene Chen @0xShitTrader]

SGP-0003 is a middle finger to every microstructure-sensitive application on Solana.

It signals to every developer that the cost model for the chain may be upended at any time, even if no applications support it.

How can you put your business logic on-chain in this world?

[Michael Morrell @michaelmorrell]

@minnus @PhoenixTrade @solflare pacifica isn't a solana dex
gmtrade is aggressively wash traded

[Eugene Chen @0xShitTrader]

SGP-0003 will make Solana a worse home for applications. It is a highly opinionated proposal dressed up as neutral. It penalizes applications the author deems to be poor uses of blockspace.

It is difficult to bet your business on a platform if the economics of the platform are subject to violent thrash. Even the fact that 0003 has made it this far is already damaging to Solana.

To the other vibe economists out there—surely you should have some model for how demand will change when price increases by 10x, rather than blindly assuming burn = today's demand x tomorrow's price.

[Michael Morrell @michaelmorrell]

this is now a bull market account

[Michael Morrell @michaelmorrell]

The Bottom Is In

[lil perp @crispheaney]

solana if phoenix dropped the token

[Michael Morrell @michaelmorrell]

@immaterial_ink Atrix had a decimal bug once where their hybrid AMM was quoting whMATIC bids on Serum/OB at 10x the real price. I think about $2 million was made by MEV/arbers. Never was reported.