tribune of the plebs
Joined February 2022
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especially in defi, there is no moat
no matter how much marketshare your competitor has, you can overtake them
they will make strategic mistakes
your job is to capitalize on them
Marcantonio retweeted
More sophisticated actors are now coming onchain. People haven’t seen strategies like these before and naturally are quick to call them “wide sandwich attacks” but the truth is the big boys are now onchain and the bar of competition has been raised…
Marcantonio retweeted
1/8 There are rumors of a new kind of sandwich on Solana.
However, a sandwich needs one thing: knowing your trade before it lands.
We looked at the on-chain data and found no sign of that. What we see is a momentum bet.
👇🧵
Based Creech
Unlike many networks, Solana users don't need to go into "bunker mode" ahead of an accelerated quantum timeline or classical attack provided by AI.
Solana uses Ed25519, where each signing key is derived by hashing a secret seed. Breaking the curve, whether by a quantum computer or a classical attack, would expose the derived key, but not the seed, and seeds are never exposed onchain. With a one-time network upgrade, rightful owners could prove knowledge of their seed using a hash-based proof and move their accounts to a safe signature scheme. A working proof of concept already exists: github.com/anza-xyz/cryptogr….
Solana remains secure today and has a defined path forward.
It’s almost as if someone clanked out exactly what I have complaining about for the last week — and it’s pretty damn good!
social trading is the future and FOMO is just the start
if you're a hedge fund moving billions, social trading is dangerous. you've got a strategy to protect and you don't want people watching your book
if you're retail, social trading is how you figure out what the hell you're doing
you see what your friends are buying, what the traders you respect are holding, when they add, when they get out
that's info you'd never have, ideas you'd never find yourself, and conviction you wouldn't otherwise get
social trading only exists onchain. this is a massive edge for defi and gives retail a superpower they don’t have anywhere else
you can’t copy trade on binance or coinbase
on a public chain anyone can pull the full trade history and build on it. FOMO shows how valuable that is
here’s the tradfi version: look at autopilot. you can follow situational awareness's disclosed stock holdings, but those come from 13Fs, which are quarterly snapshots due 45 days after quarter end. by the time you buy, they may have already sold
if those trades came from a public wallet you'd see every buy and sell live.
that's huge for learning and for copy trading
this is why we must force the financial rails onchain: because it benefits retail, takes away the big dogs’ edge, and gives us the power
this is webull's frontend for options
makes even the worst crypto-native frontends look elite
are they not even trying to make options more accessible for retail?
I like derive.xyz ethereum:0xb1d1eae60eea9525032a6dcb4c1ce336a1de71be
Defi desperately needs options
But also I need to say this: the derive frontend is not going to bring options to the masses
I’m sorry but most retail isnt going to use this product — you shouldn’t need a series 7 to understand how to trade options
UX design matters guys
this app looks like I’m booking a flight
it took me 15 mins just to actually see the app after downloading it because I needed to register. Took forever.
why would you make me register before I can even see what the app offers?
apps like these are not the future of finance
apps like @fomo are
After using @fomo it’s truly astounding how bad other financial apps are by comparison
Look how bad this app looks
Mind you it took like 5000 clicks to even see the app when signing up
After using @fomo it’s truly astounding how bad other financial apps are by comparison
Look how bad this app looks
Mind you it took like 5000 clicks to even see the app when signing up
Marcantonio retweeted
The irony of all this is it’s framed as an ai risk that needs protection against. But think about what it really means
Our banking system is so unsustainable and extractive that the moment humans have smart ai bots advising them, the ai bots will recommend exiting banks and earning better yield elsewhere
Which makes most banks economically unviable
This isn’t AIs fault, it’s a risk of highly monopolized and extractive banking
And it’s fixed by decentralized finance + ai, where users decide what to do with their own assets and earn their own yield
The chief economist at Apollo is warning that mass adoption of AI agents could trigger a bank run as they optimize user investments. Gary Gensler spent his last few years as SEC chair warning that the exact same problem will hit the markets: the pursuit of algorithmic perfection at scale destroys system stability. Personal-finance agents making simultaneous optimal decisions could potentially cause a massive flash crash.
Agent acausal coordination, with no messages passed between them, will show up in a lot of places. Markets will get the big headlines, but huge numbers of clever advisors making very similar choices will impact all of human society. Capability gains make this worse, not better. The smarter the agents, the narrower the optimal path; and knowing that other agents see that exact same path lets them move together without talking to each other. Agents do not need to collude to act in unison. Thus, they break no human laws by doing so. Human laws were not written for this. They were not written for a lot of what is coming, and it is about to start happening very fast.
Any perp dex that runs execution offchain should be blacklisted on Solana
Fully onchain or nothing
If you want offchain execution, trade on the CME
he’s not the hero we deserve but the hero we need
