Pinned
Santisa
7,448 posts
Santisa
@Tiza4ThePeople
Joined April 2018
Hyperliquid has the worst custody setup of any crypto exchange. They hold 100% of the $3.5B in deposits in a single hot wallet, secured by an opaque 3/4 multisig system, and don’t wait for deposit finality. All deposits and withdrawals are processed instantly, which implies- My biggest takeaway from Cannes is that the crypto industry as we know it will not exist in 10-15 years. We will be fully integrated into the broader financial world. "Working in crypto" will not be a thing, you'll just work on finance. That's the best outcome for the world. A
- >Ex-coinbase employees found Zora >funded by Coinbase >Dead for years >Pivot to memecoin launchpad >Get Jesse to shill non-stop for a week >Launch useless token, keep 65% Future of finance. Base is for everyone.Replying to @karbonbasedwhy does the token need to exist at all if it serves absolutely zero purpose? this type of vapor for a project that raised $60M+ in total at a $600M valuation is just embarrassing for the space.
- BASE has been sending all sequencer fees to Coinbase since launch. We don’t know if they sold, but we do know they didn’t deploy those funds on Base or keep them on-chain. The lack of transparency makes it fair to assume they sold. Not very Ethereum-aligned of them.
This post is unavailable. - What really grinds my gears are zombie crypto companies. Raised money in 2017/18, failed to find PMF and then failed pivots, and instead of dissolving the company and distributing remaining capital, the team collects fat paychecks while shipping vapor until runways ends. They
- My issue with Hyperliquid isn’t that they’re centralized, that’s fine. What’s not fine is lying to users. Claiming to be “D E C E N T R A L I S E D” while all user funds sit in a team-controlled 3/4 multisig on Arbitrum is incredibly misleading and not ok. Hyperliquid.
- It’ll never not be funny that Arthur Hayes and CZ both went to literal jail for not implementing KYC and Hyperliquid’s core business model relies on being KYC-free. Is HyperEVM a hedge against potential legal backlash on their core product? Hyperliquid
- I like projects like AAVE, Maker, Curve, Velodrome, Liquity because they truly and fully own the stack — and generate actual revenue. No promises, no Labs company intermediating, just full programmed and provable control. What other Dapps are like this?
- Let's run a little thought experiment: Imagine someone managed to compromise the USDC admin key and mint, say, ~$3B. That USDC would be immediately sold for uncensorable assets (BTC, ETH, DAI, etc). Circle would, as soon as they can, pause() USDC while they decide their nextEthereum is de facto controlled by Tether and Circle, and by extension by the US gov. By only allowing redemptions on their consensus of choice, they control it. Ethereum has been allowed to choose its own consensus thus far only because it didn't displeased the US gov, Tether
- Swapping 1M USDT to 1M USDC on Unichain = $14,133 slippage Swapping 1M USDT to 1M USDC on ETH mainnet = +$100 surplus They are spending $100k a day on stable LP incentives and I still have to bridge out to trade.
- Probably my favorite early crypto lore. "Anyone can kill your contract" -I accidentally killed it
Early crypto was crazy and so incredibly exciting. Things developed in real time on the TL, contracts were tested in production, absolutely everyone was one DM away. Regulation was a non-issue, forks were everywhere, bridging was clunky and dangerous, Bitcoin was the future of
