Our job should be to make the open-source, permissionless, trustless, secure censorship resistant ecosystem strong, so that it can hold its own and ultimately prove itself superior to both anything closed / permissioned / trusted-party-backdoored on Ethereum, and to such things outside Ethereum in the traditional world.
Swapping CeFi stables for DeFi stables is essentially buying $ETH with FED treasuries.
Bring this stablecoin collateral on-chain and create demand for $ETH.
15 ways Ethena can have a fund loss 🧵
Ethena has been reviewed and it is a memorable review given the variety of risks users face when using it
Onchain admin risks, protocol design, operational failure or external dependencies, there are many ways in which this protocol could lose funds
@josefabregab Let's establish the demand first.
Ethereum aligned entities and whales can set a sign and shift part of their stables to more decentralized alternatives like
$BOLD from @LiquityProtocol
$crvUSD from @CurveFinance
$fxUSD from @protocol_fx
...
People might accuse me of grave dancing for saying it
But we have to stop letting centralized things call themselves DeFi
Admin key can drain all funds? CeFi
Otherwise DeFi means nothing and it’s brand is destroyed
No admin key can drain any version of Uniswap for a reason
Ladies and gentlemen, it is my pleasure to announce that we have reached a new quarterly ATH!
>>> In blacklisted, frozen and destroyed stablecoins
Q1-2026 is coming in hot, about to 2x the previous ATH ($363M, Q4-2024)
You don't own your stablecoins. Circle and Tether do. And they have a remote kill switch.
Introducing ➡️ https://t.co/7IulaUkdoW
I built a real-time tracker for every single blacklist event on Ethereum and TRON. The data is brutal: thousands of addresses frozen, billions of dollars locked.
No trial. No appeals. No recourse.
What’s under the hood:
- Auto-syncs from Etherscan & TronGrid every 30 mins
- Cumulative charts & monthly freeze breakdowns
- Top censored wallets & a live address checker
Built on the same .rip matrix architecture: open, zero tracking, no signup.
If you hold $USDC or $USDT, you need to see this. Welcome to the transparent fiat prison. 🏴☠️
When a single private key can drain the protocol by design - it's probably not DeFi, it's CeDeFi. And that's ok, but it requires DevOps being very well organized.
I prefer building real DeFi
The line "decentralization doesn't matter" is getting repeated more and more these days.
I recently broke out into debate on-stage with @masonnystrom about why decentralization was essential to prediction markets existing at all.
It got heated.
Worth the 5 minutes:
Watch the recording:
01 - Start & intro Trustless Force.
03 - Intro Nils & background.
11 - What is trustlessness?
14 - Why should users care?
22 - What is DeFi Scan, and what benefits does it offer users?
31 - What were the most surprising and shocking things for you?
33 - How trustless is DeFi?
34 - Maturity stages of projects in DeFi.
36 - Is trustlessness always the best choice?
40 - What will you improve with DeFi Scan V2?
47 - How can we best support trustless solutions?
43 - Why could trustless stablecoins become more relevant?
48 - Importance of usage and a regulatory curve out for trustless solutions.
56 - How does Nils check for trustlessness?
58 - His magic wish for the space?
59 - Project that gets too little credit for their trustless efforts?
60 - Who should be the next guest?