CIO, PM @Liquid_Capital_ | NFA
HongKong
Joined December 2013
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Anthony Wang retweeted
In 2017 a wise man told me: “When you think it’s over, it’ll just be getting started.”
I think we’ll reflect upon 2026 as such a period for blockchains.
Anthony Wang retweeted
got a nanocode agent running in the x feed using @tempo wallet to pay for my ai credits and other services w/o api keys
Name recognition is a lagging indicator. Show me the liquidity profile and counterparty concentration. That is what actually matters when the window closes.
Anthony Wang retweeted
insane
@banteg's crimsonland RE playable from twitter
xframes.nanocode.xyz/d/crims…
Anthony Wang retweeted
You can play the claw machine yourself using stablecoins (there's a faucet to get $0.25 of OUSD)
The machine auctions off the right to play it, using the Machine Payments Protocol (MPP)
The payments go into an onchain pot, and if you pick up the ball, you win half the pot
Anthony Wang retweeted
YOU CAN SEE EVERYTHING, PRIMETIME, and DIGGER make 2026 the best year for film since 2015 (SICARIO, EX MACHINA, and MAD MAX: FURY ROAD). At long last, movies are back.
Beauty is unpriced risk.
I've never understood why American architecture is so ugly.
Presumably people don't become architects without some dream of building something beautiful. Even repressed, shouldn't it leak out? Shouldn't every building compete to be the one an architect longs to be seen for?
When I look at new construction, I don’t see even a glimmer of a repressed Frank Lloyd Wright anywhere. What happens between architecture school and… this?
Anthony Wang retweeted
baby boomers have for sure done some damage to the country, but they're not the reason that you're miserable. ffs turn your phone off already, and go for a walk.
Promotions attract the wrong kind of liquidity. I care about depth when I need to exit, not who is chasing a 100 USDT bonus.
Anthony Wang retweeted
yet another great reason nobody in tech should vote for scott wiener, who either doesn’t know or doesn’t care how the satellites got there in the first place
This quoted post is unavailable.
Anthony Wang retweeted
The Canton people seem to believe that tweeting about desirable features like "decentralized" or "no downtime" is more important than actually achieving them.
Here is a good thread on why Canton doesn't achieve either. This is not surprising - permissioned networks simply can't.
Of course the bag holders, compromised VCs, pump and dumpers, and Suit Simps won't care about any of this—and that's their right.
But institutional users, and even more importantly regulators, have to care about these drawbacks, lest they face systemic risk and regulatory arbitrage.
From the thread:
"For institutions choosing settlement infrastructure, the questions are who can halt it, who can change it, and who owns it. On Canton the answer to all three is the same short list."
Canton says its consensus swap had "almost no downtime" and "nobody noticed." Two things worth unpacking: what the downtime actually was, and whether "decentralized network" is the right description. Thread, with on-chain data.
1/ Per Digital Asset's own operator notice, mainnet was topology-frozen for 24 hours (no new parties, validators or package vetting) and transactions paused at the Saturday 13:00 UTC cutover. BitGo kept a maintenance incident open for 25 hours and blocked Canton wallet initializations. The devnet run of the same upgrade hit a bug that pushed mainnet from Aug 8 to Oct 10.
That is a maintenance window. Ethereum has produced a block roughly every 12 seconds since July 2015, through every upgrade, with no halt and no window. For 24/7 settlement, that difference is the product.
Anthony Wang retweeted
The hilarity of all of this is that as a permissioned network, Canton doesn’t even need a coin.
Permissionless blockchains need a native coin for Sybil resistance and censorship resistance. The native coin has minimal counterparty risk, so it’s the best asset to allow a) anyone to participate in consensus while preserving economic security b) anyone to use the chain without fear of something bad being done to them by way of the gas token and c) auctioning scarce blockspace.
Permissioned networks offer none of these features. A single gatekeeper rules consensus and can force validators to censor anyone. Said gatekeeper also controls both the supply and demand for block space.
This is why no other permissioned network ever bothered with a token. The only reason to have one is for extraction.
To add insult to injury, the gatekeeper has the power to increase supply whenever it wants. The max supply of a permissioned coin on a permissioned network is always infinity.
Of course none of that means the token can’t pump, memecoins often do, though at least a meme launched via a platform like Pump has verifiably fixed supply.
Your second tweet answers your first @CertiKCommunity. "CC is burned for services, while newly minted CC rewards applications and operators." Follow that through and the $155M stops being fee income.
A Canton fee is Canton Coin burned, mostly by validators buying traffic. The people burning it are the app operators, and the protocol mints them new CC for doing so. The largest burner, Temple, charges its users 0.5 and 1 bp, prepaid and deducted off-chain. Those fees go to Temple, not into the burn. On-chain, Temple burned 269M CC of traffic in Q2 and has received 1.17B CC in protocol rewards to date.
Q3 on-chain: 1.99B CC minted, 1.37B burned. That burn, priced in USD, is the $155M. CCView puts 72% of the minting with the apps generating the traffic. Digital Asset's own Universal Burn draft says the network mints about twice what it burns.
In June you wrote the burn-to-mint ratio was "closing on the 1.0 that marks net deflation." Four months on, burn has been flat since February and minting has stayed above it every month. The gap is new supply. And "no premine, CC exists only because of activity" sits awkwardly with 60% of all CC ever minted going to Super Validators for running nodes.
So "the highest fees across all chains" is a network paying participants to create traffic, then counting the cost of that traffic as revenue. The useful metric is not fees. It is burn against mint, and whether anyone pays without being repaid. Right now the biggest payers are also the biggest recipients.
