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Jarry Xiao
1,592 posts
Last year, we designed and implemented a new DEX that could protect users from atomic frontrunning. I was disappointed that the only thing we shipped was a blog post. Today, we finally shipped the world's first sandwich-resistant AMM to production! 🚫🥪
Gavel's first sniper-resistant public sale is complete. 2480 participants contributed 30,747 SOL in total, receiving a pro-rata share of the test token. Now trading is available on Gavel's sandwich-resistant AMM.- There was no "value created" with $TRUMP. How can you be in this industry for so long and not understand how these market games are played? Why do so many people fail to understand the difference between market cap and liquidity? Is it ignorance or is it predatory messaging?
- There has been a lot of controversy about the recent $HAWK token launch on Solana. The true story is a sobering lesson about D-list celebrity hubris and Solana’s evolving Dark Forest. Join me below as I check the chain to uncover the truth! ================ November 26, 2024
- Sandwich bots extracted over 150k SOL from retail memecoin traders last month. Most of this flow is on coins originating from @pumpdotfun This market is fundamentally broken: when retail users trade, sophisticated actors should compete to lower their slippage, not maximize it.
- Today, we are announcing @atlasxyz — a super-powered blockchain built for verifiable finance! Two years ago, I cofounded Ellipsis Labs to close the gap between on-chain finance and tradfi. @PhoenixTrade was born from the observation that on-chain sustainable markets areIntroducing Atlas, the blockchain for verifiable finance. Verifiable finance combines the performance of traditional finance with the transparency of DeFi. The Atlas private testnet is live today! Apply for access below.
- This is an extremely clever wallet-draining attack. The facts: - SystemProgram.assign will reassign system-level ownership of an account to a new program. Importantly it requires a “signature” from the account’s address. - Importantly, this will NOT show up on most walletFound a scammer that uses SystemProgram.assign to assign wallets to their program. I’m confused though, what does this do? I assume the program can’t spend from the account, and neither can the actual wallet. Maybe they do this when they steal pkey so they can withdraw at their
- During my exit interview at Citadel, the HR manager asked me why I was leaving. Being young, hot-headed, and eager to do more exciting things with my career, I told her point blank: "I want to build cool shit." I'm lucky to have spent my career doing just that. I built RFQ
- Firedancer is an extremely ambitious project and an impressive technical feat. It also highlights this industry’s tendency to prioritize narrative over pragmatism. Infrastructure should be built to serve its consumers, and the impact should be judged according to how well the
- When starting to build Atlas, I made a difficult but conscious decision to not fork the Solana codebase. I am confident this was the correct decision. By all means this is not the easy way out. Functionally, we will get to market slower and tackle far greater engineering
- In 2023, Phoenix delivered the most competitive on-chain SOL/USDC pricing with a minimum bid-ask spread of just 4 bps (including taker fees). Fast forward 2 years: you will rarely get a two-sided quote from a router with a spread >2 bps! Internet capital markets at work.
- I'm excited to announce the public testnet for Atlas! In the coming days, we will announce more about what it took to get here. In short: - A full SVM rewrite - A bridge from Sepolia to Atlas Testnet - rpcX 👀 🌐
The Atlas public testnet is now live! Atlas is the blockchain for verifiable finance. It’s built for financial applications that need the performance of traditional finance and the transparency of DeFi. - The definition of DEX has truly evolved over the years. 2021: Matching is executed and validated on a globally distributed network. 2025: Deposit tokens on Solana, Arbitrum, or BSC, and the exchange will record it in a SQL table. Matching happens in ap-northeast-1.
