Julian Traversa
@TraversaJulian
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Fixed-Rate and Oracle Infra Founded @swivelfinance @warlock_xyz | ERC-5095 | ERC-4626
Joined December 2017
The only way to successfully launch "decentralized" protocol governance is to ensure the incentives of users, investors, and founders are inexorably aligned
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Can anyone explain why there are corporate sponsors for an official military parade?
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Given recent developments I feel it necessary to emphasize that my work at @warlock_xyz with @grugcapital and @0xAlcibiades ended in June of last year More information about my departure may come eventually but that is all I can share at this time.
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This is the sort of inefficiency that H1B holders eliminate, how can Americans compete???
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If you take 10 minutes to poop at work every day thats the equivalent to one 40 hour paid vacation a year
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So unless someone can explain otherwise, the argument im hearing isnt "dont take unnecessary risks with rehypothecation" And is instead closer to "dont trust upgradable code, and I dont fully understand my industry's potential"
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Yes, hacks happen, but if Polygon were to deploy their USDT/USDC into a Uni v2 pool, would anyone really care? The immutability, composability, and mutual destruction implied by a potential exploit leaves a level of dependency confidence that is higher than ones own product
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What is differentiated is the ability to create immutable code that can be entirely relied on, and then executed composably, atomically, and infinitely (up to block size) Embracing this advantage will result in the true growth of our industry beyond a simple tradfi yield hedge
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The Polygon bridge may not be an appropriate venue but redeploying assets is key to DeFi's wider market impact Low transaction costs dont differentiate our industry, and trustlessness nor novelty do not bring with it the onboarding that is necessary to make an impact
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Infinite rehypothication is one of if not the core advantage our industry offers Those hemming and hawing about rehypothication + fractional banking are entirely missing the forest for the trees
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Quick reminder that there have been ~50 US presidential assassination plots since 2008. This is not a unique or new event. Nothing new is happening. Nothing has changed. Doubt those who say otherwise, and ignore those who speak with blind confidence. https://t.co/qgwxywCpTd
en.wikipedia.org
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Very happy to see more generalization of MEV tooling for apps But it will be some time until these tools compete vs bespoke participants unfortunately Open markets and generalized frontrunners just do not create efficient incentives for value maximalization
New mechanism with @_Dave__White_! We present MEV taxes, a technique that: * Lets arbitrary apps capture their MEV * Preserves composeability * Would work today on OP Stack L2s like @Optimism @base @Blast_L2 The secret? The surprising power of priority ordering 🧵
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The require function in pre 0.8.26 versions provided the require(bool) and require(bool, string) overloads. 0.8.26 introduces require(bool, error)—a new overload which will revert with the custom, user supplied error provided as the second argument. 💡Note: Currently, this
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While @ethena_labs is interesting -- The cost of capital was increasing well before USDe's launch, with a baseline of ~15% being a necessary repricing. Between ecosystem incentives like STIP and wider market volatility, yields of 50-100% have been standard for the past 3-4
Memes aside, @ethena_labs bringing CEX funding rates onchain in tokenized form is having massive ripple effects across DeFi Right now, Maker, Aave, and others are reacting by raising their borrow costs and the native yield they pay holders But we're about to enter Act II... 🧵
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From truth-machines like Polymarket eclipsing $400M in cumulative volume to the emergence of SUAVE, crypto-powered information games are here today. My newest piece explores the design space & challenges for the crypto apps & infra that support them. https://t.co/pQ3SB7g5dP
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Money Lego is what excited me about DeFi in the first place. But if you margin trade in DeFi today you usually pass through 5+ protocols, paying gas fees, lending fees, risk manager fees, DEX fees, UI fees, hook fees, aggregator fees, MEV costs… Is this disintermediation?
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tornadocash.eth has been compromised via malicious governance proposals. Do *NOT* use tornadocash.eth or https://t.co/7CmZHRKv7L to access Tornado. The last version I personally audited can be found at ipfs://bafybeiezldbnvyjgwevp4cdpu44xwsxxas56jz763jmicojsa6hm3l3rum
tornadocash.eth.link
A secure, anonymous, decentralized private protocol. Protect your funds with zk-SNARKs privacy tech.
It looks like some Tornado Cash UIs (eg https://t.co/JlgMXo60xT) inject malicious code for 100 ETH deposits. Also, there are some suspicious proposals: - https://t.co/dgB7tQHThS - https://t.co/N147u0WTMW Investigation ongoing.
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For a while now I’ve been working on a project to make it easier to use flash loans. It started as ERC7399, and it is ready for you to use. If you are building a protocol that needs to take flash loans from many sources in many chains, go on reading. https://t.co/mCLSvNFumJ A
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I thought I’d write a rebuttal to this thread, as I line up pretty squarely with @snoopy_mev and his thread on OFAs was born out of a discussion we had. Shoutout to @megsdevs for her contributions here
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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