mjoaris retweeted
I love how everyone built their own tiny simple unimportant app with the help of AI and then they tried to step up to more complex projects and failed miserably because they figured out finally what it means to be an engineer and not momma’s cute little computer tinkerer
mjoaris retweeted
Most yield puts users at risk.
Cap is here to fix that.
Cap is a credit platform backed by financial guarantees. Your principal is protected by collateral you can verify onchain.
A short thread on what we built, and why it matters 🧵
The $CAP token is officially live.
As we enter the next phase of our company's development, we'd like to share important information about the token.
mjoaris retweeted
The $CAP token is officially live.
As we enter the next phase of our company's development, we'd like to share important information about the token.
mjoaris retweeted
I just zapped from base WETH to @monad @PancakeSwap WETH-WMON position in 20 seconds on the @beefyfinance UI.
Beefy just went next level. Best UI ever.
mjoaris retweeted
Originally @beefyfinance core contributors built an internal list of safe practices for protocols because in DeFi Summer so many malicious rugs were happening. Eventually the space evolved and the safu practices became important because of the lack of op sec from builders. To this day Beefy still only builds on products and tokens that meet safu. If a msig controls upgradeability it gets a big yellow warning.
Here are the standards, even if you aren't a builder you should read through them.
docs.beefy.finance/safety/be…
mjoaris retweeted
It took 6 years for people to say everyone should meet @beefyfinance safu standards.
Admin Audit: a new kind of audit that only audits protocols from the perspective of multisig configuration, presence of timelocks on dangerous functions, use of cold devices for signing, multisig signing procedure, etc.
Smart contract audits tend to focus on contract logic while treating admin roles as trusted. They might flag suboptimal configurations, but ultimately the pass/fail is based on presence of logic bugs.
An Admin Audit would be the exact opposite - only focused on asking the question "what happens if multisig members get compromised" and "does the team follow best practices that substantially reduce the odds of compromise".
Protocols would need to get both a smart contract audit and an admin audit - users would demand both. The admin audit would be substantially cheaper than the smart contract audit since the best practice is well-defined and issues are obvious, whereas smart contract audits are looking for needles in haystacks.
Ecosystem foundations could subsidize these - for example, if a reputable firm offered these, we at the Monad Foundation would be happy to subsidize.
Admin audits would capture a lot of the low-hanging fruit. Realistically, many of the huge hacks in the history of DeFi have been admin compromise rather than logical bugs.
If you are building this, please reach out.
mjoaris retweeted
All of a sudden our industry wants to have this discussion. I have been yelling into the void about this for years.
mjoaris retweeted
We've had to work through a lot of difficult issues in the debate over market structure in Congress (token classification, yield, shared agency authority). But we are now getting to the heart of the matter in the Senate:
Whether Americans will be allowed to build and use permissionless private infrastructure in the US free from unwarranted prosecution (protected by the BRCA provisions in Clarity) or whether "national security interests" and "ease of prosecution" will trump those rights and protections.
Another way to put this:
Do you want the underlying pipes for all financial transactions to look like they have for decades: wholly owned and controlled by large banking interests and freely surveilled without warrants or reasonable suspeicion by corporations and the government?
Or do you think that money and assets should travel safely and privately on free and open infrastructure that's built and maintained by the people for the people?
Watch carefully who comes out on which side.
Do you want some Republican to instantly know that you paid for an abortion? Do you want some Democrat to instantly know you bought a gun? Do you want either to be able to freely and arbitrarily cut you off from the global economic rails without trial or oversight?
Or do you still believe in American values: privacy, liberty, and the rule of law?
mjoaris retweeted
Who remembers this video from 5 years ago?
Glad to announce, this is the first Finematics video that hit 1M views ✨
Obligatory @beefyfinance appreciation post; it truly transformed not just my life, but even my meadow and barn🐮
I'm grateful for the opportunities it has opened up and for the personal growth that came from engaging with the amazing cowmoonity.
Crazy it's been 5 years already!
Happy 5th Birthday Beefy🎂
In 5 years we’ve autocompounded billions, launched thousands of products, and navigated hundreds of potential vulnerabilities all without suffering a single hack.
Read our story, and how to celebrate to WIN $BIFI 🎈
beefy.com/articles/five-year…
mjoaris retweeted
5 years. Unbelievable.
Beefy was at $1.3B TVL at its peak. Still at $330M today. Almost everyone in DeFi has used it at some point.
I've built hundreds of strategies. The Beefy Bridge. The 30+ chains revenue system. The CLM. The original aggregator zaps. I have personally launched Beefy on 37 different chains. I've learned so much.
Beefy will forever be close to my heart. It was the protocol that gave me a chance. It was my entry to this world. It changed my whole life.
This is only the beginning for Beefy. It still is one of the most underrated protocols in all of crypto. A team of 17 from all over the world. Working together like a bunch of friends, that care immensely about each both personally and professionally. It will continue to grow. Develop new products. Make this space safer.
Thank you for everything Beefy. Happy Birthday!
Happy 5th Birthday Beefy🎂
In 5 years we’ve autocompounded billions, launched thousands of products, and navigated hundreds of potential vulnerabilities all without suffering a single hack.
Read our story, and how to celebrate to WIN $BIFI 🎈
beefy.com/articles/five-year…