0xprincess
@0x9212ce55
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mev extracting unicorn | founder @nuconstruct
Joined April 2019
// thread.Introducing TOOL: Trustless Orderflow Operations Layer. Making Ethereum 12x faster with 1-second execution confirmations. No protocol changes. No L2s. Launching MVP in Q1 2025 with support from industry leaders.
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As a person with ML/DL background I still can't believe "AI agents" have got the most attention this cycle. It was a passing fad in a field of origin like 2 years ago and went to nothing since ppl quickly understood you can't make real agents even with state-of-art LLMs and that.
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If a couple VCs with some billions in illiquid tokens can ruin the trillion dollar industry, it wasn't a trillion dollar industry.
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MEV topic started to gain popularity on twitter. Predicted pipeline:.1) MEV paid courses/private groups, selling a snake oil.2) Big IT youtubers start making "what's mev" videos.3) Selling a MEV brand is easier than do MEV itself.4) "MEV is a scam, we should ban it".
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//thread.The slow death of on-chain defi. Intents, solvers and more problems.
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One of the top arbitrage bots was drained yesterday with a total loss of 22 Eth by a token called Destroyer Inu. Attacker even made his contract open source on etherscan lol. Not a huge event but didn't see any attacks on MEV bots for quite a long time.
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Long, reflective and opinionated thread about Eth development. I feel like Solana's "mental takeover" might be a good thing. It showed that good UX and low transaction costs also do matter, which makes sense and it was a part of Eth's positioning back in BTC era as well.
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@ronawang If I understand correctly, the problem here is not in the biased datasets as most people could think. The even distribution amongst all types of faces wouldn't help, it'll reduce the overall model quality and will not fix the issue here - the result will still be random depending.
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32MB of data to send to 4 peers, that's 1Gbit. If the PeerDAS network needs 4 hops, that's 4Gbits. You have 4 seconds. I.e. Making a block will need *at minimum* 1Gbit/s uplink. If you account blob propagation, that easily doubles + some extra on top. We're at 2.5GBit/s here. .
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Binance Chain is literally more decentralized than Base (and actually has permissionless validator set) and is one of the first to successfully scale EVM in production, yet CT talks about it as some sort of curse, while praising Base as the Future of Ethereum. Why.
Base is incredible. Most centralized l2. Least details about their plans to decentralize. Keeps OP cabal quiet by pretending to care about quadratic voting and giving 10% tithe. Pays Ethereum mainnet virtually nothing. Runs yuppie granola ad campaigns “come get some nitro cold.
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I honestly wish crypto would be more innovative by itself instead of capitalizing on outside narratives and tech or consuming itself in an endless loop, like making protocols for other protocols. This space managed to attract a lot of very energetic and opportunity-seeking people.
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Here's my mev alpha: no one will leak the actual mev alpha, but only beta-gamma, calling it alpha. People who "leaking" it are two steps ahead of competition, or two steps behind, so they're not losing anything by doing so.
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Wanna confess. Every time I read another Mert's tweet, his takes make increasingly more sense to me. Feed algo seem to have noticed that and his posts are like half of what I see there now. Laurence's cringe or Carnation's horny posts don't show up anymore. So no one's immune to.
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Breaking the silence with my very first experience of public speech :).Hope you'll not get an ear bleeding from lots of filler words and bad grammar as it's my second language. Anyway, I really enjoyed chatting with @DeGatchi and hope it wasn't my last time :).
On @ScrapingBits I talked w/ @0x9212ce55 about:. 🤖 How they've been able to be a competitive mev searcher. 🏗️ Why their mev team has a block builder. 🧙♂️ How to be a competitive block builder. ⁉️ And so much more. Listen now!.
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If anyone curious why BTC is the only thing consistently going up, here's a short overview of how the rest of our industry looks like right now.
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I see that people like common truth, so here's another one: you can make some money on mev using flashbots pretty easily, but if you want to make crazy amounts of money, you're already late to the party and it's almost impossible to catch up imo. A thread.
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@semenov_roman_ Now they'll make a lobotomy again. I feel a strong human empathy towards this computer program tbh.
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While ppl discussing eth validator incident, some crazy stuff is happening on binance chain:.Around 11 hrs ago, probably, a malicious actor started emitting bad blocks that silently crash the bsc full node. This led to validators consistently failing to propose blocks.
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BRUUH.If you ever wondered why flashbots builder had performance and scalability issues.
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Stable Diffusion controlnet pipeline received $43M in funding. We're really making another huge bubble aren't we.
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Wanna confess: I actually tried to use Solana recently. Spent over 2 minutes trying to perform a USDC-SOL swap on Jupiter with 0.1% slip. With an Ultra fee tier and Jito's MEV protection. On a completely flat market. If having a fast chain is not enough. then what's missing?.
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I don't believe in progressive decentralization: a crypto project saying it'll decentralize over time is like an insurance company promising they'll transition to a charity. Not impossible, but very unlikely to happen. Incentives matter, once you build a flawed system it'll be.
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geth is so complex and already old piece of software, that just refactoring some old inefficient pieces that everyone forgot about makes you more competitive in mev.not going to commit, sorry.
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>Met Solana dev.>"Our network has good nodes".>Asked if these are home staked/user-owned nodes or a bunch of AWS instances owned by large validators, shown him a comparison checklist explaining differences.>"These are good nodes sir".>It's all AWS.
"Solana is centralized because hardware requirements". Reality: Solana has ~3k nodes which is only slightly less than the number of Ethereum nodes — but it's also 10,000x cheaper and has at least 100x more capacity. seems like a tradeoff worth considering. "Ok but those nodes
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I'm proposing a new 1M TPS blockchain designed for the next 10 billion users
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Some people wonder why there's so little on-chain activity. They don't understand that an average user doesn't want to just swap his favorite memecoin by transacting on a blockchain. He wants to express an intent. Intent to a some sort of network, providing decentralized.
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Commit to geographical decentralization, it's literally the most important thing shaping our industry. Crypto is where everyone's effort should matter; "centers" raise an artificial barrier for participation and form "elite" circles making ideas and merits secondary to location.
Its very clear that New York City is becoming the global center of the cryptocurrency industry, despite the incompetence of US regulatory bodies and high cost of living. Either you move your company to New York City or you put your company at a huge disadvantage.
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@0xfbifemboy Her post doesn't include.1) long-term consequences of working overtime, aka burning out.2) Need for someone who wears many hats and may assign to a random tasks is a sign of bad hierarchy and unclear areas of responsibility which is a normal thing in startups but is bad generally.
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Ok, now somewhat serious criticism from my side (bc after prev post I'm now getting more content about Sol than Eth lol):.Solana's tech is great, no doubt, but tx fee numbers are concerning to me, as according to stakingrewards dot com, as a delegator, you can receive around 6.8%.
Solana: ~$0.002 /tx in a local fee market.ETH: ~$10 /tx in a global fee market . (and subject to spike during periods of rampant congestion). With parallel processing @solana is able to execute transactions at a fraction of a cent as contrasted to the EVM. The top illustration
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ControlNet capabilities in manga colorization are insane!.Results are my own.
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There's no "right" way to use Ethereum. Creating a permissionless culture is the point.
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> Chatted with dev working for a new L2, responsible for benchmarking.> Asked him which transactions they use to measure Gas/s, do they write something to the storage or work with contentious state, which are the common bottlenecks.> "these are good txs, sir".> look inside.> it's.
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"Ethereum never meant to serve end users, it's a B2B settlement layer for rollu-"
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It's the first time I'm seeing someone claiming that unlimited programmability is a "poor design choice". So I decided to write a small answer-thread to this.
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If you're in Crypto - move your community from Discord, move your code from GitHub. I've been saying that and I will continue saying that.
If crypto community will be brave enough to go away from Github, they should definitely switch from the Discord too.
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Widely known take but I have to say it: grifters like ben.eth are poisoning the space, making it a bad public reputation and discouraging hardworking builders. Their success is everyone else's loss, this is much worse than VC-backed wagmi culture. Yet I see no solution to stop it.
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The worst ofac-geth feature would not be a tx censorship at the block level, but refusing to propagate them to other nodes AND collecting sender node IPs and timestamps so it would be possible to identify the actual node who sent it first and ban it on the infrastructure level.
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Why some searchers (me included) don't like flashbots auctions. A thread.
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lmao, there's a subnet on avalanche literally called "YOUR DOCS SUCKS NO ANY DEV HELPS".
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Remembering what mev problems I solved a year ago and what the context looked like. A thread.
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Ethereum is … (seriously, what is it?) // long post. Almost everyone confuses marketing Ethereum as a platform for apps and open collaboration with marketing ETH as an asset. And understandably so. Historically, it was the same, because the only things you can practically do
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I think a lot of ppl from Ethereum camp tricked themselves into this kind of pipeline, thinking:.1. Solana is centralized.2. Solana has great UX because it's centralized.3. Ethereum eco has to compete with Solana.4. To compete with Solana, projects in Ethereum eco have no choice.
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@JasmineKwasa @ronawang I didn't say there's no bias, I said that this is not the root of the problem and it'll not be fixed after you eliminate it, you'll still get random out-of-context generations with this kind of model. Sorry, but twitter format just wasn't designed for even longer posts, had to.
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I honestly feel so bad rn. So many legit projects were created for cheap decentralized storage and they barely have any usage, but instead of using them ppl just bloat ethereum's archive nodes with this stuff. They can do it for sure, but they're harming the space without even.
Got this stuff in my feed and I don't even know how to react. An obviously bad idea that no one brought into production for this only reason is now a narrative and presented like some sort of innovation. This space is doomed.
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As someone who mostly started socializing in their twenties, I'm still impressed that you can literally just chat with ppl on the internet and make a global impact if you're qualified in your domain. And I'm even more surprised that maybe 99% of ppl don't use this opportunity.
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Glad to see Ethereum cypherpunk culture being adopted and new L2s are community-governed in the most credible, decentralized, and sybil-resistant way possible - via Telegram gc polls.
1/.The @ethereumR1 team is running a Telegram vote to decide whether to drop the 1% base fee contribution to Taiko DAO. To be honest, I’m not happy about it.
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Ethereum, an App Federation:.A public good and the product of the Supply Chain War. //thread
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@udiWertheimer Bitboy spent 10x more time on crypto than Satoshi, but still can't sign a Metamask transaction. Not everyone's time values the same.
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It looks like I'm late to a hot debate again, even Vitalik had frontrun me by writing a huge post. But from reading these conversations I feel like we're back to 2021 and running through the same arguments over again. I started this account from questioning flashbots but I.
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@MaxResnick1 I made soo many posts on this back in the day lol and I have to disagree. Tldr; There's nothing wrong with single-threaded EVM, state access is the bottleneck, once solved, you can do like 10k TPS locally and then disk write latency/bandwidth becomes a new bottleneck, once you.
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If chains are abstracted and users stopped caring about security properties of the underlying chain then it's a low hanging fruit for wallets to launch their own L1/L2s to monetize orderflow directly and earn all tx fees.
What's the next frontier for wallets?. Go up the stack, bundle apps beyond the swapper. Which ones are these? Swap, Trade, Launch?. Go down the stack, offer chain abstraction, privacy, MEV kickbacks. Same account in embedded wallet & native app (vs either/or). Where to from here?.
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Japan is trying to pass $320b military bill just after @0xfbifemboy's visit. Makes you think.
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Max left Ethereum but the spice was inherited.
0.8% of all ETH is on Base. a stage 0 rollup with instantly upgradable contracts. day 1 starts when you're stage 1 Jesse.
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New EVM implementation just dropped!.Looks like a pre-alpha version, but I think it has a promising future, standing on shoulders of giants like Microsoft. It has no external dependencies and supports all systems from Windows Server 2008 R2 SP1 and above.
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13/15.We've come from fully on-chain vision of defi to centralized off-chain storefronts selling user orderflow to proprietary firms. And I've seen almost no reflexive thoughts on this topic, most people just took it as given, not questioning the path our industry has taken.
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@joewintergreen @luciascarlet I think this guy made a worthy comment letting people know that this game is incompatible with the old hardware. He also said that you don't support it anymore which is true, and that it won't run on modern hardware as well. "This guy promotes not to support me financially", but.
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Frontend regulation is a hot topic, but I don't see many people discussing the RPC provider regulation. Wallet RPC centralization led by Infura, which is used by the M***m*sk, makes everyone who used it automatically doxed and their identity linked to addresses.
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@0xfbifemboy When you read it first time it kinda makes sense, but to think about it twice, you might notice these are actually good points only if you're working in a young growing startup.
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No, we don't need to reinvent EVM. State access bottleneck is not the same as EVM bottleneck, and while they both currently exist, geth can make thousands of TPS on a modern hardware already, and default EVM is able to deliver probably tens of thousands, if state access.
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This might be huge. Addresses one of the biggest bottlenecks for blockchain scaling. If it works as stated, I'm sure it'll be adopted by the whole industry eventually.
Introducing Quick Merkle Database (QMDB), a high-performance verifiable database optimized for blockchains. • 2.28M state updates per second, 1M TPS (benchmarked transfers per second). • Benchmarked with workloads up to 15B (10x Ethereum’s 2024 state) and proven capacity to
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Reading reports like this, I'm thinking there's a decent chance validator-level centralization & infra privatization would've brought more harm to Ethereum than mev-boost centralization did. I was thinking the opposite last time I ran my brain's cycles on it half a year ago.
1/ Fun fact: DeezNode's sandwich bot executed 1.55M transactions in December:. Profit: 65,880 SOL ($13.43M).Annualized: 801,540 SOL potential. This is a fundamental design failure allowing daylight robbery. 🧵
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Pinned threads rev. 0x1:. Flashbots criticism #1. Flashbots criticism #2. MEV 2021.01. BSC 2022 state & predictions.
Let's start with my vision of current bsc state. 1) Imo, bsc is technically what eth 1.5 would be if it took another path. Bigger block & much more frequent block production at the cost of greater centralization and less network long-term stability.
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2024 was a very exciting year for me: it gave me a dream of a brighter future, where I could see myself and what I work on. And I'll do my best to bring this future to life in the next year. Wishing you all a happy new year! May it keep your loved ones safe and give you the
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This is one of the most complete, easy to understand developer-focused introductions into the MEV topic I can recommend. I'm also glad I participated in it just a bit, so it has a little opinionated chat section with me at the end haha.
The MEV course is live 💯. ➡️ History & Basic Prerequisites.➡️ What is MEV? MEV Strategies.➡️ PBS & MEV Boost Architecture.➡️ Searcher, Builder, Relay, Proposer.➡️ PEPC, SUAVE & Security.➡️ Live MEV & Coding.➡️ MEV Podcast with @0x9212ce55. Link:
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This is a good thread, and while I agree this is a case in the endgame scenario, I would like to explain my point of view. Why I think that OFAs is NOT a bad idea for DeFi (long thread):.
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I'm very excited to share this project and grateful we had an opportunity to collaborate!.Flashbots and rsync teams put in an insane amount of effort, setting a milestone in the practical application of TEEs in MEV. This tech has potential to change Ethereum supply chain forever.
We put 3face's entire bot inside TDX to trustlessly capture bottom-of-block arbitrages on rsync-builder without frontrunning risks. No code changes, 440 bundles landed. Introducing the first evolution of searching in TDX: bob.
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JUST IN: Sam Bankman-Fried says he didn't build a back door to access FTX customer funds because he doesn't "know what a cryptocurrency exchange is".
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Short opinion on events removal: I'm against it. First of all, because our team's operations are heavily dependent on events and we don't want to externalize risks associated with our ops, delegating them to other companies running 3rd party indexers wherever it's possible. So.
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Since Bitcoin release, not a single dev dared to call his project AnimeCoin or AnimeChain, until now. This is some insane level of grift and while I love crypto, naming a project like this is a disrespect to all weebs because it'll be never be any good to back up its name.
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Imagine frontrunning a hack for 8M$ profit and then sending it to hacker bc the copied contract had a hardcoded withdrawal address, lmao.
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Shorter block times are good but we want Ethereum to sync from scratch on a Raspberry Pi using a minority client written in Java.
Yeah because I have better things to do than write a fucking essay about how shorter blocktimes are good. We all know it's true. I don't feel the need to waste everyone's time on here by writing a 20 page think piece about it to farm clout.
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ML researchers spending months developing bleeding edge models and then refusing to spend 1 extra second to come up with a better name
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I feel like crypto is greatly suffering from the concentration of talent: lots of hyper talented people who fail to establish a hierarchy and work together because each one reasonably wants to build their own product.
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1/15.In my opinion, the major reason behind the rise of intents, solvers and CeDeFi protocols is a failure of most defi primitives - pooling funds creates a high value target for hackers. And the wide spread of upgradeable contracts introduced more attack vectors than eliminated.
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bruh we've literally sent a better solution with +20eth higher bribe to all builders for this one.I'm so dead.
Largest (and least bribe-y) arb I've seen in a while:. 420 Eth arb, only 126 to the builder, and of that, only 22 to the validator!. Get to work on those Curve pools, anon . .
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@functi0nZer0 Each time I see a take about Bitcoin's "immutable robustness" and how it's better than Ethereum I remember this meme.
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Watching the current crypto mkt, I don't believe we're in bull. Previous cycle gave us many interesting projects, but I don't see any new ones rn. Ones that introduce new concepts and not new ways to execute old ones. And what's trending? Memecoins, inscriptions? Things that.
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Noticed a trend I'm concerned about: many people from Eth land I follow repeatedly post simple & almost random takes and slogans. Imo, such tribalism could only give a false sense of unity and rejects any critical thinking as heresy. Elaborate, discuss, debate. YOU are the North.
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lmaoo. He spent his time writing 29-tweet thread consisting of completely made-up points, but wasn't able to find words to respond to a valid criticism. I want to say that I love Solana as much as I love Ethereum or any other chain and I think it deserves better influencers.
It's the first time I'm seeing someone claiming that unlimited programmability is a "poor design choice". So I decided to write a small answer-thread to this.
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Idk if EVM is a bug or feature: building on Eth requires a total understanding of an underlying architecture - all abstractions are just sugar, unlike in common stacks. It ultimately holds the adoption, but maybe it just enforces the skillset required for critical financial apps.
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5/15.Issue #1. High dependence on centralized proprietary off-chain infrastructure. One of the selling points of defi was that frontend or backend actually doesn't matter and the user could just interact with the contract in case when something goes down.
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6/15.1.1 We used to believe that soon, all protocols would be powered by unstoppable world computers. But now protocols are rapidly increasing their dependence on closed source off-chain backends and frontends, which not only affects app's liveness but leads to other problems.
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// Roadmap.𝗡𝗼𝘄 Trustless TEE Searcher node live with Flashbots & Wintermute.𝗘𝗢𝗬+ PBS-compatible "Searcher Network" launch: mev-share, Merkle, FastLane, Kolibrio integrations.𝗤𝟭 𝟮𝟱 MVP launch on Testnet & Mainnet with Chorus One.𝗤𝟮 𝟮𝟱 Soft launch.
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@vorot93 @paradigm @n0computer Don't worry, they'll switch from libmdbx to LIBMDBX, their fully independent project built on a shoulders of giants.
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I think I should answer to these points properly, so I'm making a new thread of me critisizing flashbots #2.
Some thoughts on searcher profits and the Flashbots Auction.
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One of the reasons which I think slowed down the development was the inflow of institutional capital into DeFi, that raised the demand for stability as just smart contract vulnerabilities was a huge risk already. But my main fear and what I'm totally against is Eth becoming the.
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I def need to compile all my large posts and discussions in one place, as I was triggered again by a comment on "eth is slow cuz EVM" and decided to write a new post instead of finding old ones lol. So. let's go through some major factors of low Ethereum's bandwidth. EVM is.
@arixoneth The problem you’re missing is that Moore’s Law is slowing down. But what isn’t is the number of cores being added to hardware. This keeps doubling every 2 years. More cores mean more parallelisation. The EVM is single threaded so makes no use of this hardware improvement.
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NGL, CT feels like it's dead silent and most ppl are burnt out. I'm building very cool stuff to present but who'll need it if nobody wanna use crypto.
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