Execution data // previously @gsr_io
London
Joined October 2022
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Pinned Tweet
With the exciting public launch of @metricxyz, thought I'd talk about the story of how I came to advise Metric:
In January this year, I was first connected to them by a close friend of mine to take some time to understand the tech. Very quickly, we jammed a lot on calls, where it reminded me a lot of the early days of 2017-2021 DeFi protocol engineering. After giving some initial feedback, they iterated and came back very strong, with an early working prototype of what came to be Metric v0 - from there, I knew this was a team that could execute.
The thesis behind it all was simple: flow goes to the venue with the most competitive liquidity consistently. Much easier said than done though, especially in an industry like DeFi ridden with backdoor deals and the many adversarial attempts to undermine aggregators and the infrastructure in between.
It took a while for partners to trust us, but after lucking out with a first integration, we were able to ramp up very quickly from there. Quantitative models, risk-on weekend exposure and constant feedback cycles: we built up better and better infrastructure and experimented with innovative quasi-oracle pricing that could be replicated across different markets. On the protocol side would be precise gas optimisations. Each week would be calendars filled with calls back-to-back, focused on the right partners, nailing new integrations into DEX aggregators, block builders and eventually some of the top trading applications you know and love.
After $22B in spot volume all in 8 months in stealth, it’s good to see this thesis coming true and this is only just the start. A lot of the work behind the scenes doesn’t get shown, especially with such a fast-moving high-output team of @0xageth @mick_metric @CGkol + more, but as the next year comes around, excited for them to reveal more of the cool things they’ve been working on!
Metric is live: metric.xyz
Swap. Provide liquidity. Deploy your own pool.
Now open on Robinhood Chain, @BNBCHAIN and @ethereum.
Taker retweeted
we are also releasing solar’s EVM codegen this week - it’s >100x faster than solc, and produces more gas efficient bytecode with zero assembly
Taker retweeted
This weekend we launched EthLib, a Lean4 library for Ethereum!
The goal is to bring Ethereum's primitives, specifications and theorems into one place, building a shared foundation for formally specifying and proving things about Ethereum.
github.com/ethereum/EthLib
Taker retweeted
we have a new EVM coming up soon that just wrapped audit, it has JIT baked in, it's really fast, and it's gonna be the future of foundry, reth, tempo and all the evm ecosystem using our stuff!
huge leap coming. stay tuned.
Taker retweeted
Announcing Dagger 1.0 beta.
Replace Jenkins and GitHub Actions with CI that matches the speed and scale of coding agents without wasting compute or tokens.
Featuring: test-native CI, dev shells, local and remote execution, official modules, and more.
dagger.io/blog/dagger-10-bet…
Taker retweeted
We're committed to making prop AMMs work at scale on Ethereum.
Huge thanks to the block builders who worked through this with us. Today a price update sent through Metric's API reaches ~99% of built blocks!
Curious how? Read the article below 👇
Taker retweeted
Announcing Fynd InBlock
The first solver run by block builders.
xitter.cf/PropellerSwap/status/2…
Taker retweeted
Yes there's significant demand from venues and protocols for MMs and liquidity. Not every demand is increasing, notably TVL deals are dead and very few good token deals for MMs.
"There simply isn't enough liquidity, risk capital, or market making infra to support the pace of the new products being launched"
I'd put it differently, there isn't enough retail and soft flow to support all the new products. If that changes, the liquidity, risk capital and MM support will follow. Too many venues are competing for a stagnant user base.
With the amount of new trading products and novel defi primitives being launched, demand for market makers, liquid funds and general liquidity providers is growing rapidly.
There simply isn't enough liquidity, risk capital, or market making infra to support the pace of the new products being launched so I suspect we will see incumbents scale aggressively and potentially an opening for new firms to enter. I see a golden opportunity for onchain finance.
Taker retweeted
So basically, today PHP got two critical bugs that let anyone run code on your server without even logging in, which is bad, and then the details leaked before the patch was even out, which is worse, and it works on WordPress and MediaWiki and Magento and Joomla and Laravel, and Censys says like 1.5 million servers are running a version with no fix, so the NSA was like "take your system offline," and the FBI was like "take your system offline," and CISA and the UK and CERT-EU were all like "take your system offline," and then the Prime Minister of Japan, the actual Prime Minister, posted at 5:55 in the morning telling 48.8 million people to take their system offline, so everyone took their system offline, like the Dutch cybersecurity agency took its own website offline, and the Dutch parliament went offline, and the Port of Rotterdam went offline, and Finland and France and Denmark started pulling government sites, and Wikipedia went down, and Archive.org went down, and Asana and GOG and Something Awful went down, and the University of Vienna's webmail went down for some reason, and that's just PHP. Because GitLab also dropped a CVSS 10.0, which is the highest score they give out, for a bug that's been there since 2014, so that's every self-hosted GitLab for twelve years, and then LiteLLM 1.107.0 got hijacked and shipped a credential stealer and a remote access trojan in every single wheel and the Docker images, including latest, and you didn't even have to import it, just installing it was enough, and it's the second time this year, and then Railway paused every deployment on the entire platform because someone got into the environment variables, so now everyone has to rotate every secret they've ever stored there, and TiDB Cloud said someone was walking around inside with stolen credentials for basically a month and an extortion group says they took 10.6 terabytes, and Zeabur got breached for the second time in two months and is just shutting down, like the whole company, and Node.js patched remote code execution and a TLS bypass, and CISA says Plex is being actively exploited, and someone took over 300 Tor exit relays to steal SSH passwords, and SafePay ransomware has hit over 600 critical infrastructure orgs, and India's biggest bank filed a data loss incident, and Japan has been in an official state of emergency in cyberspace since October 9, which honestly explains the 5:55 AM post. Oh, and eMudhra, a certificate authority that's issued over 60 million certificates, whose entire job is proving websites are who they say they are, was supposed to be using private keys that are random numbers over a hundred digits long, and one of them was 4. Just 4. And the others were like 66 and 237. Anyway, it's Wednesday.
Taker retweeted
Same stage, one year later.
@hal2001 and @chameleon_jeff on:
- Equity perps going from prediction to reality
- Hyperliquid as infrastructure, not competition
- HIP-4 as a building block for options
Watch the full talk ↓
youtu.be/t5s7LICMJKE
Taker retweeted
I don’t really know where agentic trading interfaces will go
We can already import economic data + onchain data + tagged trader data into your ChatGPT app and easily build custom indicators and cronjobs that fire on X event onchain via dot / grokbot
Is it neccesary that there is a nicely packaged GUI? I can already ask browser use to draw lines on hyperliquid - Everytime I’ve strayed from ChatGPT sooner or later the base apps browser use + capabilities go up so much that a separate interface is unnecessary
Taker retweeted
We're starting to see some agentic Rust forks (or alternative implementations) focused on iteration speed.
More-so than the specific projects, I'm interested in the ideas being explored (and how they could evolve upstream), so wanted to collate a few here...
Taker retweeted
5 days after public launch, Metric has crossed $11M TVL and $1.2B in volume.
Nearly $500M of that came from tokenized stocks on @bnbchain and @RobinhoodCrypto.
Thanks to everyone for the incredible support.
We’re just getting started.
Taker retweeted
"The man who does not use computation cannot compete with the man who avails himself of its secrets. No hedge fund can price second order effects faster than a 200-megawatt Jane Street data center. No lone genius can produce a better language model than Anthropic."
@CooperVeit3 on the secretive, unborn market for compute:
arenamag.com/articles/counti…
Taker retweeted
An absolute pleasure to have @Austin_Federa of @doublezero join @TimMeggs on the local podcast in Korea.
Solana was trading around $1.10 when @Austin_Federa joined. So how did a tiny network become one of Crypto’s biggest players?
@Austin_Federa , Co-founder at @doublezero sat down with @TimMeggs in The Local (Seoul edition) to unpack what put them on the map. As always, links below ↓
Taker retweeted
owning paper is owning a share in the house
this is only valuable insofar as the house is valuable. owning a lot of a dead house is worthless, and any design that would let the house stay at zero is a failed design.
when we went out, there were certain known problems with known timelines (builder codes) and some unsolved problems with unknown timelines. the perp attack described in the main was an unsolved problem, but we hoped to solve it as we made progress elsewhere. we knew it was impossible to set all the parameters and variables perfectly prelaunch - we are the first through the wall in a very adversarial environment - and i thought we would have more time to find solutions. unfortunately, the way things are advancing, we dont have six months until a large perp listing, its coming already. these were labelled as unsolved “good problems” and here we are. the market forced our hand into making the decision before we found a solution to the problem, and so for the health of the protocol the token is now non-transferrable. i want to thank all of the pre-market perp dexes, especially the hyperliquid ecosystem ones, who were in contact through this process. i am sorry I was not able to find a design for transferability that worked, i tried very hard.
ultimately, the success of papertrade relies on what it always has - whether the end product has user PMF. i have extreme confidence in the product we've built and continue to add to. i have had to personally self-exclude myself from similar products before because i used them too much. the token being transferable or not does not change whether a degen will longterm choose to trade on papertrade or not. the execution, site quality, mechanism, and economics of the trade will. papertrade is the fastest way to go from usdc in your wallet on any chain to a leveraged speculation exposure. providing clean, working, composability derivative liquidity in a permissionless environment is the vision.
thank you for your all your support since launch, and good luck to us
Taker retweeted
We analyzed over 1 billion trades to find out why Kalshi markets are so accurate. A group of 15,000 superforecasters is largely responsible.
What stands out:
-There are 14,694 people on Kalshi who have significantly better predictive ability than other traders. This is measured by Brier skill score, which tracks trader calibration.
-They provide their forecasts to the whole platform, not just the top few markets. Skilled traders are active in 97.3% of markets.
-Timing and category change behavior: for example, superforecasters enter economic markets earlier, and sports markets later.
-These traders aren’t concentrated in the coasts or major cities. They come from all around the country, with Wyoming having the most per capita.
Prediction markets provide an incentive for smart people to do research, think rationally, and share their views with the world.
This incentive has brought almost 15,000 superforecasters to Kalshi, who create a public good by providing accurate forecasts to nearly every market on the platform.
Taker retweeted
Partial stateful node is here!
Happy to announce chibi: a node that syncs in minutes and lets you transact through your own local RPC. Trust no one because every value is proven.
It runs on practically any hardware. Need to send a transaction? Don't need to rely on RPC providers, just spin up chibi and send it right away. Live on Sepolia today and Hoodi next.
👇 demo below
