Boys drop your btc address below right now, giving away $50,000 on X will choose randoms for $10,000 each.
total given away will be $7.5M by the end of today! all in less than a year
another 50k is going to twitch chat, and 20k to discord. links below
$RLUSD is institutional-grade infrastructure for payments and tokenization.
Through @wormhole’s Native Token Transfers (NTT), $RLUSD can now move natively across multiple blockchain ecosystems, supporting cross-border payments, institutional on/off-ramps, and tokenization use cases.
For developers and institutions building onchain, that expands access to compliant, USD-backed liquidity across supported networks.
Keyed nonces are not just a way to add stronger in-protocol support for privacy solutions. They are also a potential first foray into a new state scaling strategy for Ethereum: create new types of storage that are more optimized for handling categories of use cases that we care about, with restrictions on their use that make them usable at extreme scale while preserving the protocol's decentralization.
Let's zoom in on this case (in-protocol nullifiers). Let's say we get to 2000 TPS of privacy-preserving transactions onchain, for eight years. Then we get 2^11 tx/sec * 2^25 sec/year * 2^3 years = 2^39 [ie. 500 billion] nullifiers stored onchain (the challenge with nullifiers is that they are fundamentally not possible to prune).
It's actually far easier to keep Ethereum decentralized if we have 500 billion nullifiers onchain in a dedicated nullifier store, than if we just let them grow in the current state. The reason is that the more restrictive structure of nullifiers (only used to check validity, and we can require the nullifier ID to be explicitly specified in the tx) enables more decentralized ways of handling them. This includes:
* Sharding: each node (incl builders) can hold a small percentage of nullifiers, and make sure to have a connection to an honest peer in each other shard
* Bloom filters: see this somewhat wacky idea here for reducing the VOPS requirement for nullifiers to ~8 bits per nullifier: https://t.co/M2HgDru1NV
Both techniques are not possible to use for dynamically accessible state. And so builders would have to download the full 16 TB to become viable (not just optimal, viable!), and privacy protocol users would not be able to use FOCIL without providing a Merkle branch proving that their nullifier is unspent, and there would be very few nodes capable of providing such a branch...
Zooming back out, the moral of the story is that fully dynamic state is much harder to handle at extreme scale (tens to hundreds of TB) than state that is more controlled and restricted in how it can be used. And so if we can move the majority of usage into these more specialized forms of state (which we can make much cheaper in terms of gas), then we can keep Ethereum decentralized, and highly scalable, and keep the fully dynamic state available for applications (eg. defi) that really need its full functionality.
I've been building DeFi for almost a decade and we went from zero to here:
- Over 300b stablecoins issued onchain
- Protocols that actually make revenue, all verifiable onchain
- Billions in stablecoins yielding interest directly onchain
- More safer ways to trade or lend (no ftx custody risk)
- Embedded wallets that bring more users and are easy to integrate (i.e. Privy)
- Fintechs and e-commerce platforms issuing stablecoins (PyUSD, SoFi, Western Union, Moneygram)
- Big fintech involvement (Stripe with Tempo)
- Fintechs integrating defi (i.e. Whop integrating Aave)
- Almost all relevant major banks and asset managers have digital asset teams and also working on tokenization, stablecoins and defi (Fidelity, BlackRock etc)
- Genious act regulating stable coins and removing uncertainty to enable fintechs and TradFi to participate
- Clarity act coming, creating more certainty for crypto and defi
- AI tools for defi security hardening and improved overall development process since early days
- EU has MiCA certainty and UK following up
- Banks banking crypto (Erebor etc) and better onramping
The industry progress has been real, and will take of course years to come to see full adoption. We are closer now than ever before, yet moving 8 billion people onchain will take time.
I think that we are in front of a moment where underlying tech is starting out-phases the crypto-native assets. It make sense for stablecoins to have bigger market caps that Bitcoin and Ethereum as world is moving onchain over time. Same thing will happen with trading and lending as more assets are tokenized and will grow directly onchain. This is net good for the ecosystem.
It seems that fintech and tradfi is doubling down on blockchain like never before.
The best way to progress is by building, and we have some of the smartest builders in the space, true believers that build with a real mission are still here.
At some point crypto, defi, stablecoins, rwas are doing to be just called finance. No tribalism, no drama just boring tech that works and scales.
The first ever Fannie Mae-insured mortgage backed by BTC in the U.S just got funded.
Originated and serviced by Better, powered by Coinbase.
Rolling out nationwide this summer.
I need your honest reply. If I send you 500K, what will you buy RIGHT NOW?
ETH at $1670
XRP at $1.13
SOL at $66
ADA at $0.16
SUI at $0.7
TAO at $198
LINK at $7.6
LTC at $44
After selling $ETH, I immediately took ~50% of the capital to VVV, NEAR, ZEC, HYPE
I left the rest as capital to DCA into something not already up multiples (other than NEAR, which was ~1.40 at the time.
I've finished buying $LIT with that remaining 50%
The Bitcoin chart looks bad, but check out the rest of crypto. The Ethereum chart looks worse, and the Solana chart looks worse than that. Everything looks like it's about to implode. So far, the selling has been very orderly with no signs of panic. That will likely change soon.