gnar

@gnarzilla

Mar 20

Pop Punk 🇺🇸

@PopPunkOnChain

Mar 20

Excited to share the first people that will be joining the @cademarket team.

@gnarzilla - CTO
@steoniy - CPO

I’ve been fortunate to work closely with these two guys during my career and am extremely lucky to bring them onboard to build the fastest prediction platform

Pumpcade.

gnar

@gnarzilla

Nov 7

0xjustadev.eth (⛽️,📉)

@0xjustadev

Nov 7

There were no lessons learned from what happened with EOF and that stack of EIPs was tame compared to the precedent being set here.

People that actually build on Ethereum start to understand the impact and it’s “testnets are live”, “too late to change”, “just ship it”.

No one ent of these EIPs - properly charging for state growth relative to other operations - is bad. The pushback is on how it erodes trust assumptions for builders and changes how they have to think about long term operations.

If we 5x storage costs and 5x black gas limits, did we really scale or did we just make bigger numbers? Sure, you can pack in more non-state ops if those stay the same but did anyone run the numbers on lowering the cost of non-state changing operations and keeping block gas the same?

gnar

@gnarzilla

Nov 6

Tommy

@Shaughnessy119

Nov 6

Any spam call gets routed to my agent and sent to the FCC as a formal complaint

gnar

@gnarzilla

Nov 2

Cade

@CadeMarket

Nov 2

A lot of the core market logic infrastructure for Cade has moved offchain.

This is something that the team has been working on for the last few months, and something we believe can 100x Cade, with respect to performance, experience, and reach.

We slowly introduced elements of this to our tech stack during Meme Madness, the last tournament that we ran. During that tournament, you may have noticed that predictions were not actually moving testnet tokens from your wallet to the protocol. This tournament used a credit system. This was our first step towards testing the methodology that we planned on moving towards long term.

Deposits and withdrawals will remain onchain for the foreseeable future however. The escrow provides 100% transparency into the Cade TVL, inflows & outflows, and value engine as detailed in our tokenomics.

There's more to this that we will share soon in a more technical focused post, but we wanted to provide you with a few benefits for this approach:

1. Less dependencies and attack surfaces. We've seen billions of dollars enter the hands of the wrong people over the last few months. Much of what we do doesn't actually require funds to be rapidly moving between wallets and programs. The less exposed funds, the better.
2. A wider geographic launch for Cade. More users from more locations means more volume in the ecosystem and value engine.
3. A much more realtime experience for users. Offchain can move faster than onchain. This means many platform actions are processed near instantly.

Cade on.

Pop Punk 🇺🇸

@PopPunkOnChain

Oct 31

Market Insider

@MrketInsider

Oct 31

JUST IN: THERE HAVE BEEN 24.4M COINS LAUNCHED ON PUMPFUN

312 ARE CURRENTLY ABOVE $100K MARKET CAP

gnar

@gnarzilla

Oct 30

Derek Chiang | Ethlabs

@decentrek

Oct 30

Quick notes on 7702 to dispel fud and keep your funds safe.

First thing first -- 7702 itself isn't broken. Don't panic if you are using a wallet that supports 7702 (MetaMask, Uniswap, Ambire, etc.).

To recap, 7702 is an account abstraction EIP that allows an EOA to sign a special message, called a "7702 authorization," that would insert a smart contract into the account, which enables the account to do powerful things like transaction batching, e.g. doing "approve" and "transfer" in one transaction so you can swap on Uniswap with one click.

But unfortunately the same feature also allows a hacker to efficiently move all your tokens in one single transaction. In the Binance hack, the hacker moved ETH, USDT, and 62 other tokens in one transaction, whereas without 7702 they'd have had to send one transaction per token. In this particular case, many of those transactions would've failed because Binance was still using the hacked wallet for withdrawals, so all transactions sent by the hacker would've had to compete with the legit transactions for nonces. So using 7702 did help the hacker steal as much funds as possible, as quickly as possible. Ouch!

However, in order for the hacker to use 7702, they must have either 1) had access to the private key, or 2) tricked Binance into signing a 7702 authorization. The latter is very unlikely, as it's hard to imagine Binance being so incompetent as to expose an endpoint for signing 7702 authorizations or (even worse) for signing raw messages which the hacker could've repurposed for 7702 authorizations. But I can't rule that out until the official postmortem.

What does all this mean for you?

- If you are a wallet developer, do NOT, under any circumstances, expose a way for third parties to request 7702 authorizations. This is just handing your users a giant footgun to shoot themselves with. No wallets I know of do this, so don't worry if you are a user.

- If you are a user, use a well-known wallet. 7702 does let wallet developers screw up in more ways than before, so use only well-known wallets whose developers' competence you can trust.

- If you are a company (e.g. an exchange) operating hot wallets, do NOT, under any circumstances, expose an endpoint (even if it's an internal endpoint) for signing 7702 authorizations or raw messages.

As a contributor to AA, I feel partially responsible for hacks like this, since by increasing the power of accounts, we've indeed also empowered hackers (not unlike how any new technology empowers both the good guys and the bad guys). That said, it's important to note that 7702 was only a transitional EIP, and "endgame AA" such as Frame Transactions (EIP-8141) would allow wallet owners to set up their wallets much more securely. For example, if Frame Transactions were available today, Binance could've:

- Set up their wallets as multisig contracts only (not EOAs).

- Set up "post conditions" for their `transfer()` functions, so that even if the multisig got hacked, the contract itself would perform sanity checks such as "no transfers of more than 1000 ETH without additional signers."

In short, the endgame of Ethereum UX is one with both optimal security and optimal UX, and users never have to trade off between the two. But we still have a long way to go until we get there. Back to work!

gnar

@gnarzilla

Oct 29

dnap

@dnapway

Oct 28

Palmer Luckey says analysts claiming it's too expensive to manufacture in the US are lying to protect megacorps

"I think I have a more realistic view than almost anybody. One of the problems with all these analysts that are telling you that it's going to cost $37,000 to build an ,000 to buy an American computer."

"They're trying to prop up a status quo that the megacorporations want to keep going. They want to outsource everything. They want to hire cheaper non-American labor."

"They are willing to say and do anything to convince you that it can't be fixed, that it can't come back, that America is this helpless, neutered, post-relevant empire, and it is just not the case."

"How do I know that? Because I have to make stuff in America every day because I work in the defense industry. The stuff that Anduril makes every day is not actually that different from a computer. My drones are basically computers. They have memory, a GPU, a CPU, sensors, batteries, a rugged integration."

"The only difference between an Anduril attack drone and a laptop is a keyboard and a screen. That is not that hard to figure out, especially for a guy like me who started Oculus and comes from the consumer electronics space."

"We're not going to let people lie about what America can and can't do anymore. We're just going to do it."

gnar

@gnarzilla

Oct 21

Anza

@anza_xyz

Oct 21

Alpenglow is live on mainnet-beta ⛰️ 🎉

Solana’s new consensus protocol: finality reduced from 12.8 seconds to 150 milliseconds, built by Anza.

Why this is important 🧵

gnar

@gnarzilla

Oct 20

Pop Punk 🇺🇸

@PopPunkOnChain

Oct 20

Adding early cash outs to @CadeMarket change everything.

Our previous protocol already offered the potential of wildly outsized multiples in our short duration markets.

Our new protocol will allow significant multiples on bets in JUST A FEW SECONDS.

Only possible on Cade.

gnar

@gnarzilla

Oct 20

papertrade.xyz

@papertrade_xyz

Oct 19

A note on transferability.

Papertrade is a complicated primitive, and managing it from a risk standpoint is a complicated problem. The PAPER token is far more integrated into the economics of the primitive than most tokens are in their respective protocols today, and, broadly, was designed to act as a counter insolvency incentive coupled with a rebate mechanism to losing traders. Market makers and exchanges are by far the two most profitable businesses in crypto, and our goal was to try and externalise as much of their margins back to users as possible. We are now just over a week into the life of papertrade and we are becoming increasingly confident that this is both possible, but also a likely outcome as agentic led software becomes the norm.

As it stands, the paper token traded as a perp becomes a leveraged bet on bankroll solvency - and being able to short bankroll solvency materially changes the payoff curve of a manipulation attack. The target number goes from the bankroll, to the bankroll + short side exposure on paper. We can, and do limit bankroll size specifically to control this payoff curve and ensure it never becomes existentially problematic, but external perp markets are not something we would have any control over if left to float of their own accord. For example, if our bankroll is $10m, an attack costing $15m manipulating the price of bitcoin or ether is not viable. You simply lose money. If however you were also able to put on $10m of PAPER short side exposure, suddenly an attack costing $15m is very viable indeed.

If we were to make the token transferable at this point, we are confident we would quickly enter a state too dangerous to allow any material exposure to be taken on papertrade, an end result that benefits no party beyond the wolves who have done the math on the short and are waiting in the wings with sharpened knives.

We would also like to thank the various perps teams who have reached out about pre-market listings for their understanding and patience regarding this issue, and especially to the paragon team who, despite jumping the gun on us, have behaved with the utmost integrity and transparency once a dialogue was opened.

Perps on PAPER will always act as a self-limiting exposure ceiling for a token with this type of utility, and we think it would be a shame to limit the growth of papertrade to the extent that allowing perps would necessitate. As such, at this juncture we do not have plans to allow off-contract token transferability.

Structurally, papertrade is limited by the quality of the data it receives from hyperliquid, but we strongly believe that hyperliquid has a very large part to play in the future of global exchanges, and expect their books to continue to thicken and strengthen over time.

A note on fees.

Papertrade launched with a deadband fee from entry of 0.2bps. This means you don't earn anything until the price has moved by 0.002% in your favour. Over the months before launch, we played around with many different curves and fee structures affecting exclusively positions closed very close to entry price in order to try and devise a structure that removed the edge against the bankroll low time frame scalp bots have, whilst also minimally impacting the traders around which and for whom the product was devised. We were never able to find anything we were absolutely happy with and so decided to stay with the 0.2bp deadband fee through launch. This has however meant we have had to be very restrictive when it came to certain parameters, such as OI caps.

Now, however, we have enough live data to fully understand exactly which strategies work, and to make the necessary changes to stop them. The changes we are making will have an on hours and off hours fee mode to account for the relative differences in liquidity the hyperliquid books see between these two time periods, and the ease with which low time frame moves are signalled. The changes we are making will only affect positions closed within 6bps of entry (0.06%) in on hours, and 10bps (0.1%) in off hours. Any trades closed above these threshold price shifts will see no change to their fees at all. On a look back to launch basis, these changes affect the profitability of bot strategies roughly 15x more than they do normal traders, for whom a very small proportion of overall winnings come from within this band.

These changes should serve to flatten much of the edge our microfee structure necessarily creates on low time frames, and will help with long term exchange sustainability. This should hopefully allow us to open up parameters such as OI caps a little more so those of you who wish to can put on the size you want to, when you want to.

It is possible these changes are still too lax, and that further revisions to this structure may be necessary going forwards. If so, we will notify users ahead of time.

A note on paper tokenomics.

In conjunction with the fee changes, we will also be implementing a change to the token issuance curve.

Going forward, every $1 lost mints a fixed share of PAPER's supply at that moment, roughly 0.1% of supply per $1M lost (the exact number depends on the mint rate at the time the contracts are upgraded). PAPER minting in and near insolvency will also change, switching from a flat 100 per $1 of loss, to a time weighted multiplier on the curve growing over time, effectively acting as the house running a discounted auction on its own future cash flows. This change also removes the risk of the paper-mint-straddle-attack, temporarily pushing the protocol insolvent by closing only the winning side of a large straddle position and then attempting to mint as much paper as possible.

In the immediate term these changes will only have a very subtle effect on PAPER minting, but in the long run will structurally change the outlook of the system beyond the first few weeks, serving to slowly dilute out older holders and leaving more recent users with an advantage. Reconstituting the PAPER system into something much closer to the exchange rakeback it was intended to be.

We have been very reticent to touch this particular aspect of the system for obvious reasons, but ultimately we believe that these changes provide all users with the optionality to take a smaller piece of a potentially much larger pie than the current dynamic might necessarily allow.

Other, miscellaneous notes.

These contract upgrades will include a few other contract changes, including the addition of builder codes so that builders can utilise papertrade in whatever capacity they choose to. This will be a whitelist only to begin with and we will have more for you later in the week on where/how this will be rolled out. A small change to contract permissions on the reward distributor and a change on how below bust closes are processed by the exchange are also included, largely to block gas griefing attacks.

These changes will be pushed to docs in full over the coming day, and we will further announce once the changes are queued into the timelock pending final security passes, scheduled to go live 24 hours after that point.

Final note.

We'd like to thank everyone that has tried out papertrade over the last 10 days. It has been a labour of love building this product and both of us have been taken aback at all of the positive feedback we have received. We'd also like to thank all those of you who have spent considerable time musing on the system we have built, and much of your advice has been taken onboard and will likely affect the colour of what papertrade becomes going forward. We know some of these changes will be unpopular with some, but we would not be making them if we did not feel them to be absolutely necessary.

- blurr, jez

gnar

@gnarzilla

Oct 6

Cade

@CadeMarket

Oct 6

Cade Markets are fundamentally different, more fun, and dopamine triggering than any other prediction market.

Explore our new site to understand why, and make sure to join our waitlist.

cade.market

gnar

@gnarzilla

Oct 6

Pop Punk 🇺🇸

@PopPunkOnChain

Oct 6

more sportcade