Matthew

#bitcoin

[Patrick Collison @patrickc]

Introducing @Tempo.

At Stripe, we care about high-throughput, low-latency payments use cases. As the use of stablecoins (and crypto more broadly) grows across Stripe, Bridge, and Privy, we found that existing blockchains are not optimized for them.

For example, it's valuable for real-world financial applications that fees be denominated in a fiat currency that makes sense to the user, but existing blockchains denominate their fees in blockchain-specific tokens. Batch transfers are very useful in payments, but much less important in trading. Bitcoin does ~5 TPS; Ethereum does ~20 TPS, some (like Base and Solana) get to ~1k TPS, but Stripe peaks at >10k TPS. And so on.

As such, we decided to incubate Tempo, a new blockchain, in partnership with Paradigm. We think of Tempo as the payments-oriented L1, optimized for high-scale, real-world financial services applications.

Tempo is an independent company, with Stripe and Paradigm as the first investors. To ensure that Tempo serves a broad array of needs, we're excited to be working with Anthropic, Coupang, Deutsche Bank, DoorDash, Lead Bank, Mercury, Nubank, OpenAI, Revolut, Shopify, Standard Chartered, and Visa as initial design partners. We will start with an independent and diverse validator set, and plan to move towards permissionless validation. Tempo will have a built-in stablecoin AMM to enable platform neutrality with respect to different stablecoins, and Stripe itself will of course continue to work with many chains as first-class partners.

We hope that Tempo makes it easier for things like payment acceptance, global payouts, remittances, microtransactions, tokenized deposits, agentic payments, and more, to move onchain.

The Tempo team is 15 people today, led by the terrific @matthuang. If you're interested in building Tempo, get in touch! And if you're interested in partnering, reach out to [email protected].

[Matthew @ropstenrich]

@brxckinridge good take

[Matthew @ropstenrich]

I'm noticing the less you use a social network, the more your notifications slowly just become your feed. I know how to find recent tweets, Twitter.

[Chainlink Today @ChainlinkToday]

“This is a topic of interoperability between chains that we’re going to see more and more.”

@Gemini’s Matthew Werner talked to @andyboyan about how #Chainlink Proof of Reserve is connecting chains with unique utility like @Filecoin to #DeFi. https://t.co/NUCPy6WAc7

[BAT Community @BAT_Community]

📢 Upcoming #AMA with @BrendanEich (CEO) & bat-chriscat (Rewards PM) from @brave; @noahbperlman (COO), @beardmars (Strategy), & @ropstenrich (Product) from @Gemini!

📅 Save the date: Sep. 9 from 12:15 - 2:00 p.m. PT/3:15 - 5:00 p.m. ET on r/BATProject
https://t.co/Uv8EUYCZoG

[Matthew @ropstenrich]

@rorenree That’s basically the same thing. We’re just asking, is it ten shit tons or a hundred

[Larry Cermak @lawmaster]

1/ It's hard not being optimistic when looking at what's been happening in crypto in the last few months. Narratives are important but data always tells the story much better. I spent a long time to put together this thread to illustrate the growth so please spread it!

[Matthew @ropstenrich]

@AsiffHirji Crime and Punishment

[Matthew @ropstenrich]

High ETH fees are cutting out small investments into DeFi. I looked at putting $100 into Curve this morning and it would cost me $44. If DeFi can't address this, we may end up rebuilding the inaccessible legacy finance we're working to open up.

[Matthew @ropstenrich]

@nntaleb Frankly, for someone that has produced so much great content about how to reason about unexpected events, I'm surprised you're not able to see beyond just pricing goods and conflating COVID politics. Cryptocurrencies are about so much more than that.

[Matthew @ropstenrich]

@nntaleb This is a really disappointing take, @nntaleb.

Frankly the point of it is, the tech doesn't care if you label it a failure. It works regardless.

[Matthew @ropstenrich]

Looks like they make their status updates via reddit?

https://t.co/A1NwZ9yHNd

[Matthew @ropstenrich]

Anyone know of a good self-custody $AVAX wallet? From what I can find @avalabsofficial is the only reliable option and it's down right now.

I know there's been a ton of attention on the network lately, but not having any working option to access coins is concerning for sure

[Matthew @ropstenrich]

Yesterday cross chain transfers were disabled "due to network congestion" which is also a problem. Can't realistically consider self-sovereignty if you can't access your funds

[Matthew @ropstenrich]

Finding a little bit of a tokens you added to a DeFi pool a while back is like finding change between your couch cushions except the change earns interest while it's lost

[Matthew @ropstenrich]

As more people start to understand how these crypto protocols work, “fair execution” will begin to mean “DeFi execution”

[Matthew @ropstenrich]

This kind of Inside Baseball by @mcuban does a great job of illustrating the efficiency of financial protocols. The rules are open, transparent, and with functioning governance, fair. It's only a matter of time until customers demand DeFi.

[Matthew @ropstenrich]

@cburniske My guess is there's still optimism $BTC still has some left in the tank before taking profit and moving into more speculative positions. Like you said, once it flows into $ETH, it's going to go fast

[Matthew @ropstenrich]

@cburniske I don't see how this bull run could end without seeing $ETH grow significantly against $BTC. All the talk about the flippening back in 2017 and we've got a long ways to go to even a 0.1 ratio. Lightning still finding its footing, meanwhile ETH has a cool $26B in DeFi TVL

[Matthew @ropstenrich]

@keighstone @coinbase @bramanathan @NathalieMcGrath @MaddieCallander @amizi @ali01 @justinpobrien @cburniske @artia @RajGokal @fcmartinelli Looking forward to Balancer experiencing the Kristen Effect