s3bo

Founder | Building value-aligned products | Cypherpunk at heart | @backupbuddy_io →

[s3bo @s3b0o0]

https://t.co/EjhlN6QbBL

[s3bo @s3b0o0]

@rems000 🔥

[s3bo @s3b0o0]

A company buys Treasuries → issues stablecoins against them → distributes those dollars globally.

The result: global demand for your sovereign debt, exported through crypto rails, lowering your nation’s cost of borrowing.

Asking for a friend: when will @EU_Commission realize the potential?

[Zach Rynes | CLG @ChainLinkGod]

JUST IN: Chainlink co-founder @SergeyNazarov speaks at the podium during today's technology leaders event at the @WhiteHouse

[s3bo @s3b0o0]

@josephdelong 😂

[s3bo @s3b0o0]

@0xFlint_ great article

[s3bo @s3b0o0]

@blainemalone @DialecticPod https://t.co/r41TEsN8ei

[s3bo @s3b0o0]

🧵1/4
“Crypto’s biggest sin is trying to reinvent the internet and the financial system from scratch. But that’s not how change happens. Change starts from where we are today—and moves the machine in the direction we want.” — @sternhenri

[s3bo @s3b0o0]

@blainemalone @DialecticPod great episode

[s3bo @s3b0o0]

"Crypto needs more builders talking to users, building for the world as it exists today, and being transparent about the tradeoffs they make."

Well spoken.
In this industry we tend to build for others like us, instead we should build for everyone. It might come with trade ofs, but if well communicated, it seems to be worth it.

[s3bo @s3b0o0]

"Recovery is broken, and everyone knows it. Nearly every participant had a fragile recovery setup, was aware of it, and had not fixed it. Often the gap between knowing and acting was years old. This was the most widespread pain by far."

Great read, can recommend.

[jan_lbrs @jan_lbrs]

With @FloB_Safe I built (& shelved) a self-custodial neobank wallet on @safe. Our learnings: https://t.co/cAsUpHnoWy

TLDR: so much of the UX is still broken 10y into Ethereum. Fixing it alone doesn't beat FinTechs - nailing borrowing is a thesis that might.

[s3bo @s3b0o0]

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Asking for a friend, what could go wrong?

[s3bo @s3b0o0]

To use the words of Rahul as a reminder to all of us with one word added:
"build -better- finance and help people be more free"

[s3bo @s3b0o0]

taking bets; which company annouces tomorrow:
"soo sorry our newst model accidently hacked github"

[accountless.eth @alexanderchopan]

“When you’re using self custody, a simple question to ask yourself is how to avoid “single point of failure” “

[s3bo @s3b0o0]

@SippyLat @arbitrum congrats!

[s3bo @s3b0o0]

@adamshurwitz @safe 👋here

[s3bo @s3b0o0]

build finance and helps people be more free

[rahul rumalla @rsquare]

A lot of people are now looking to multisig as “the” solution for the recent data leak incidents with trezor, ledger, coldcard etc. Even though I could be biased building @safe I can tell you that there is no silver bullet. However the fundamental choices Safe made in its design are to help people be more in control of their custody, security and sovereignty. A more secure setup than a standard EOA.

Crypto industry has a tendency to use these incidents as trigger points in order to influence buyer choices with a cheeky marketing tactic like “How our solution X could have prevented the hack Y” — it’s FUD.

The real hard work is in addressing these security goals proactively and bake them into your design choices. And yes, it makes your build more complicated and complex — I think many people in crypto will tell you that it’s not easy to build in web3. We don’t do it because it’s easy and helps people get rich, we do it because it’s a better way to build finance and helps people be more free.

When you’re using self custody, a simple question to ask yourself is how to avoid “single point of failure” — be it a hardware wallet or a software wallet. A single private key loss should not result in a full compromise of your account. You shouldn’t be forced to share your personal details to having basic self custody over your owned assets.

If you’re looking into Multisig, a simple and strong setup for a cold wallet could look like
- a 2-or-3 setup with a self-custody recovery
- Use hardware + dedicated mobile devices for signers. Leverage Safe Mobile
- Make these signers dedicated to the multisig account
- A clean and curated address book

This would already go a long way and be far superior to a single wallet setup. My personally preferred use case for hardware devices are for signing only and not for storage.

A more advanced setup would involve
- Onchain policy like an allowlist of addresses you interact with (ex: hot wallets)
- Another onchain policy like a time delay on your transactions
- A solution over your account setup to monitor any drift in risk and be notified (ex: address poisoning, private key compromise, etc)
- A solution over your assets and defi positions and be notified so you can act quickly (ex: protocol compromise, stablecoin depeg, etc)
- An even more advanced setup would be to have means to auto unwind your positions

An important note: a cold wallet setup is intentionally meant to be designed with friction to move assets. These are your long term holdings, your life savings etc — it should not be overly convenient to operate these. Having a separate hot wallet is always the best practice.

All of these are possible with @safe multisig products today and we’re increasingly productizing these without compromising user sovereignty. Safe allows you to be intentional with your setup, your security and your convenience configuration. There is no silver bullet for the ultimate secure setup in anything. But that doesn’t mean that you can’t harden your setup. You should.

[accountless.eth @alexanderchopan]

wen ct works for the greater good

[s3bo @s3b0o0]

First of all thanks for sharing.

I am curious about your morning study time. Do you jump right into it ? Maybe with a coffee ? You take a Shower frist, or go for a short morning walk? Basically how do you make sure you are not to sleepy?

Sharing something that I have adjusted quite recently is increasing the powernaps of 10 min, from 1 to 2 a day. Can recommend.

[s3bo @s3b0o0]

@uwwgo happy birthday!

[s3bo @s3b0o0]

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