Momir
@momir_amidzic
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Managing Partner @IOSGVC. My opinions are my own. 'The impetus to start at all necessitates a level of naivete.'
Joined October 2017
⚠️⚠️⚠️ Warning: The account under the user name.@momiramidzic is impersonating me on TG. Please do NOT interact with it. My only Telegram account is:
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Fun fact: @CurveFinance has roughly the same amount of TVL as Solana and Avalanche combined.
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Recently we entered a point where VCs place excessive emphasis on the short-term potential FDV of projects, despite typically being locked in and having no prospects of exit for over 3 years. Valuations that seemed unthinkable in the primary market 6 months ago are now seen as.
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On Bitcoin L2s. When considering Bitcoin Layer 2 solutions, I start with a simplified model focused on three key design decisions:. 1. How do you bridge BTC?.2. How and to what extent do you inherit Bitcoin's security?.3. How do you handle the data availability (DA) issue?. 1.
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@CurveFinance is the first AMM to introduce the idea of liquidity amplification, positioning itself as the most capital efficient AMM with a niche in stablecoin swap. Besides this, Curve stands out due to its unique user profile. ⬇️.
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Thank you to IOSG for the trust and confidence. The fund has fostered an environment that encourages open debate and truth-seeking—a culture that has been instrumental in helping us make contrarian decisions during tough times. I’m also deeply grateful to IOSG for opening the.
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Crypto x AI map v2 . Thanks to @bidhanxyz for the review
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There is no easy way to win or be right. It requires both intellect and character. Intellect to understand the nuances and make the right decision, character to stick with your decisions in times of adversity. I'd argue the latter one is even more important.
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Usual Money: Time to Unthether 💊. Congrats to @usualmoney for reaching the public mainnet after two years of hard work! With this major milestone I wanted to reflect on the opportunity they are pursuing and why I think this could be the biggest wealth generation opportunity in.
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We analyze the reasons that could lead to DEX aggregators becoming a synonym for on-chain trading. Thanks to @abandeali1, @0xfulvia, and @theogonella from @0xProject for providing valuable feedback. A 🧵:.
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There is no greater opportunity in the crypto-venture market today than trying to disrupt Tether and its $5B AR🥮. @usualmoney is the only project that has some chance of doing so . The product that can scale to ♾, an incentive structure never seen before, and the team with the.
💥Just the beginning! Usual Labs has successfully raised $7M in a strategic funding round and secured $75M in TVL! Get ready for a revolutionary shift where users can own a piece of their fiat-backed stablecoin issuer. Change is here! #JoinTheAlternative 🔮
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Exciting Token 2049 week in Singapore. There is a growing FOMO surrounding Asia with projects placing startegic focus to the East, especially in the midst of regulatory uncertainty in the US. In addition, deep communities, technical prowess, a vast user base, the largest crypto
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Congrats to the rockstar team on the major milestone: @Pierr_Person, @AdliTB, @hugosdc, Antoine, @degens_grandma and others working behind the scenes. 6 months ago, I told my colleagues at IOSG that if for some reason Usual doesn't succeed, I would never blame it on the team,.
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it has been clearly indicated that USD0++ is a multi-year bond with guaranteed 1:1 redemption at maturity . USD0++ has been the major vehicle for mining USUAL rewards and therefore the market was trading it at a premium to its vanilla bond value (if you were to price USD0++.
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A comparison nobody asked for: @eigenlayer vs @Polkadot . Overlaps:.- modularizing trust and enabling easier innovation at the infra layer.- reducing the cost of capital necessary to launch new blockchains/middleware. Differences: .- uniform vs non-uniform security .- security.
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Just a few weeks ago Metamask reached a huge milestone breaking $100M revenue in 2021!. Thanks to @DuneAnalytics we get to understand the data behind this success. ⬇️.
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Crypto-founder maturity cycle:. - Newbie: All about tech and research, thinks writing thoughts on X is a waste of time. - Second-cycle founder: Thought leader on X, spends hours on AMAs, podcasts, and community building. - Pro: Masters token design, obsessed with listings and.
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IOSG was proud to be the first institutional investor in Solv Finance back in late 2020/early 2021, when we co-led their seed round. From the very beginning, Solv stood out for their boldness and ambition. While many projects at the time focused on incremental improvements, Solv.
A major milestone solv(ed), this is just the beginning.
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Another day another AI visual . This time about AI training and inference tech stack. While this illustration is not directly referring to crypto x AI, this breakdown is helpful as projects at the intersection become increasingly technical. It helps to understand the
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Finally, with the increasing adoption of layer 2s, the subsequent liquidity fragmentation and demand for transferring tokens between layer 2s and layer 1 could be a perfect landscape for further growth of Curve.
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Namely, the average Curve user generates above $1.3M volume daily (over the past 30 days), much above any other DEX in the space. For instance, the average Uniswap user generates $23k daily.
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Usual Money：是时候 Untether 了. 祝贺 @usualmoney 在两年的努力后成功上线主网！在这个重要的里程碑之际，我们希望借此反思他们正在追求的机会，以及为什么我们认为这可能是本轮周期中最大的财富增长机会。. 从一个背景故事和一个简单的问题开始：为什么Blackrock突然对区块链技术感兴趣？.
Usual Money: Time to Unthether 💊. Congrats to @usualmoney for reaching the public mainnet after two years of hard work! With this major milestone I wanted to reflect on the opportunity they are pursuing and why I think this could be the biggest wealth generation opportunity in.
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🙏. ChainML/Theoriq was our first investment in the crypto x AI space in 2022, during the deep bear market. Seeing a portfolio project reach a significant milestone is one of the most fulfilling experiences as an investor. @ronbodkin and the team deserve all the credit; without.
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Looks good to me! . Nothing provides more validation to a protocol than performance during extreme market downturns such as those of May 19th. Well done @LiquityProtocol
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If you're a crypto founder looking to improve your chances of raising money, here are a few things to consider:. - Move to NY (this is the only one that's not shitposting).- Dye your hair some eccentric color (increases likelihood of raising by 10%, bonus points for bright green).
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Why is it so?.Primarily because of the above-mentioned capital efficiency. Thanks to its innovative design, moving prices in Curve is several times harder than in XYK DEXes such as Uniswap or Sushiswap.
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Smart contract insurance is just a bad business with a big mismatch between demand and supply side. Everyone wants to get insured against new DeFi protocol smart contract risks, but nobody wants to provide insurance for it (or would ask a very high APY that the typical depositor.
Why hasn't on-chain insurance become a bigger market?. I used to be really bullish on the market but seems like it's stagnated. Right now @NexusMutual is the largest, and it's failed to grow in either USD or ETH terms. Theories?
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What does makes them different is that moving prices on Curve is much harder and therefore capturing arb opportunity requires large amount of capital, often likely to involve flash loans.
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I thought its public knowledge but seems it isn't . If you deposit ETH as a collateral in Ethena you essentially gave up on the ETH price upside exposure, similar to the action of selling ETH at the market price. If you want to get access to the stablecoin while keeping ETH price.
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@alice_und_bob when you negotiate the valuation of a primary market deal it's hard to come up with terms like let's agree on a circulating supply at year 3 post-TGE and value this round accordingly, projects often don't have their token distribution details set in stone (especially in earlier.
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1/14. IMHO the DeFi primary market has been largely uninvestable over roughly the past two years. New projects use incremental innovations to attack established players, focus on too niche areas, or try to become the first to launch already-seen solutions on new L1/L2.
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@JHahnEU @SasaRadulovich @eu_near @MiKarnitschnig @kyriacosch @CalaveraRuiz Mr Hahn, please stop supporting criminal government and false opposition in Serbia. Show us EU values in practice.
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Being the intermediary in this process, Curve could attract more diverse token offering and scale its volume several times.
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Sharing some notes on @InfPools . It introduces the concept of infinite leverage and creates great marketing around it, but what it really is? . "If it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck.". ⬇️.
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Space & Time as the first decentralized data warehouse is working on a cutting-edge technology. @chiefbuidl's and @holiday_nate's experience in the data space is nothing short of impressive and we have no doubt in their ability to deliver such a complex task.
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1/ Happy to share another opinion piece on @DefiantNews, this time exploring the liquid staking vertical and the impact of the recent "Shapella" upgrade.
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@myanTokenGeek @SolvProtocol imo, Solv is one of the pioneers in the creation of DAO bond market. some other areas for UL: .- consumer credit (salary streaming platforms might be best positioned to support it).- margin trading (control assets within escrow wallet to enable liquidations).
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Anytime price discrepancy is large enough, an arbitrageur would have to execute large trades to make any price impact on Curve. Being predominantly driven by arbitrage activity doesn’t make Curve unique, arguably >80% of Sushiswap / Uniswap volumes are driven by arbitrage.
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Two charts that perfectly capture the insanity of the latest tariffs:.1) On April 2nd, the U.S. rolled out the highest tariff levels in over a century, with an effective rate nearing 25%. 2) One of the wildest chapters of Trump’s first term was his trade war with China. But
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SynFutures has stayed true to DeFi principles since day one - building a fully decentralized, permissionless protocol. First to pioneer permissionless derivatives listings, now evolved into a full-stack DeFi platform. Already the #1 perps platform on Base, and emerging as its.
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$GRASS had a successful launch despite not being listed on Binance, OKX, Coinbase, Upbit, etc. I guess the lesson is that if you have good product and community you don't have to wait forever for Tier 1s to give you a blessing.
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Although, Curve is focused on stablecoin swaps only, tokens within the same pool could still experience price fluctuation relative to each other e.g. tBTC and renBTC are not necessary 1:1.
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i.e. x and y balance have to be materially disrupted to make an impact on prices due to the low slippage.
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- stablecoin remittance normie friendly app - I guess this is what all wallets/crypto payment apps are trying to build . - depin idea - bit blur to me. - dating app - quite interesting. - video data - grass does this. - fitness incentives for friends - i like this. this is what I.
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Templates for tweets right now . 1). {token_name} at {current_price x 10} . Few . 2) . Lessons I learned from past bull market and how I plan to 10x my wealth this time . A thread . 3) . Let me tell you why SOL is super bullish anon . 4). I accumulated ton of {shitcoin_name} in.
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2/14 . Recently, I’ve been getting more optimistic as some tech solutions that could power next-generation DeFi protocols have been maturing. In the new piece, I discuss the opportunities that could be unlocked with novel data primitives: 🧵.
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In the following dashboard, we dive deeper into what we believe could be the next big story of DeFi @SynFuturesDefi @DuneAnalytics .
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Hot Take: Haseeb probably has all the qualities to be as successful as Kyle, but Kyle outshines him for a few reasons:. - Public profile management.- Comfort in being the minority.- Risk delegation. I) Public Profile Management: Disciplined, Neutral vs. Targeted, Biased. Both.
I don’t know who needs to hear this, but @KyleSamani is the single best investor in crypto. Full stop. I say this as his competitor—Dragonfly and Multicoin go head-to-head all the time. But game recognize game. Investing is a sport, and Kyle is the all-time scorer, bar none.
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How in the world could simple constant product AMM replace the likes of Binance and Coinbase. Moreover, DEX is so expensive to use. Doomed to failure, right? . Nowadays, the above looks funny. But, only two years ago it was the concern of many.
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In the following article, I revisit @pmarca's 2007 essay, "The only thing that matters", in the context of Web 3.0 investing, and discuss the importance of product-market fit for dApps. ️🧵.
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Might seem contradictory with one another but 5 simple truths:. 1. majority of crypto VCs have trader mindset, extremely sentiment driven, suffer from FOMO, lack conviction and cojones.2. overall there is no lack of capital in crypto VCs.3. many interesting and ambitious projects.
The biggest challenge in the space is fundraising, coupled with founders' inability to take enough risks. A major issue is that venture capital often dictates how funds are allocated to founders. Those looking to build something entirely new or risky often struggle to find.
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interesting
🔥 JUST IN: FTX to start $16B creditor repayments on Feb. 18, 2025, with $6.5-$7B in the first phase. Payouts based on Nov 2022 prices.
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Gokhan will always be like family. Over the past 5 years, some of the best discussions I’ve had—on life, politics, society, economy, and of course, crypto—were with him. While he won’t be spending full time with us moving forward, I’m glad he’ll continue contributing in another.
After nearly four amazing years, I’ve decided to step away from @IOSGVC . It’s been the longest and most rewarding trek in my career, and I’m beyond grateful for every moment.
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What Your Bangkok Transportation Choice Says About You:. I) Riding a scooter without a helmet:. a) Early-stage founder.b) First-check VC.c) enthusiast. II) Riding a scooter with a helmet:. a) Growth-stage responsible founder.b) Long-only liquid fund.
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1) The SBF/crypto circle-jerk.
1) The financial circle-jerk.
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might as well retweet myself.
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Agree, @TheoriqAI will have all 3: . - infrastructure that lets agents collaborate and coordinate ✅.- feedback loops that drive compounding value ✅.- tools that put humans in the loop, not out of it ✅.
ai agents are like the wild west of innovation—chaotic, exciting, and unpredictable. but the gold rush isn’t in shiny features. it’s in:.- infrastructure that lets agents collaborate and coordinate.- feedback loops that drive compounding value.- tools that put humans in the loop,
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非常感谢Jocy的信任，以及为我们创造了一个开放讨论和追求真相的环境。这种文化帮助我们在困难的时候做出了一些不同寻常的决定。Jocy把IOSG的成员当作家人一样对待，我也很感谢IOSG，为我打开了进入加密行业的大门——这一路真的非常特别。.
这是一个外来务工人员的故事，多年以前，我们第一次面试，他穿着一件白色衬衫参加面试，IOSG从2019年开始找不同背景和国家的同事加入团队，当时我们在疫情的时候，大家见面很拘谨，他介绍自己来自一个离海很近的欧洲国度，来到中国两年多，开始学习中文。
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My last two internal macro reports were:.- 'We are running towards the end of this cycle' (around May 21st).- 'It doesn't take much to crash the market that is priced for perfection' (around July 17th)
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Su Zhu can literally shill you anything.
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Understanding the quality of fundamentals: . Benchmarking projects based on commonly adopted ratios is an easy and fast way of getting a sense of market valuations. But,⬇️.
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14) When deployed correctly, modern finance can be breathtaking: seamlessly providing financing to innovative ideas, with the sharpest investors getting paid back a lot in the long term. When deployed recklessly, it can be breathtaking, I guess, just in a different way.
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Solana marketing - the benefits of being toxic. Solana proved once again that in crypto world prices lead fundamentals and not the other way around. While suffering one of the largest drops in active ecosystem developers and the amount of stablecoins locked on Solana (among.
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8/14 . Our investment thesis revolves around the fundamental belief that tamperproof data will serve as a bedrock for empowering the next generation of DeFi protocols. Projects building in this space: @SpaceandTimeDB, @nil_foundation, @axiom_xyz, @brevis_zk, @HerodotusDev, etc.
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reading crypto influencers coming with sophisticated mental frameworks to discuss memecoins reminds you how some people are very talented at sales that they could shill you literally anything e.g. su zhu shilling his prison experiences or whole bunch of influencers imagining P2E.
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prices go up and down quality content remains.
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Starting to collect meme cycle top signals: .- 12 year old rug .- DWF 20M meme fund .- Sui hiring head of DeSci . Need multiple more signals like this to officially call the top but it started!.
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1) gaming - a bunch of Ponzi, money grabs & rug-pulls; most projects didn't raise enough to build quality games; underwriting early-stage games is tough; most gamefi analysts are full of BS; if you are LP in a P2E fund I wonder how you made money in the first place🙂.
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VCs trying to hit the next unicorn.
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Now that we observed v3 advantages, how about the drawbacks? . V3 inherits the impermanent loss issue, however, the size of the loss depends on the LP behavior. Namely, while in v2 LPs were rather static relative to arbitrage,.
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Congrats on bringing amazing partners onboard! . 0x Labs has several projects in their portfolio with a clear product-market fit. Doubling down in the most recent round has been a straightforward decision for us. @abandeali1 @willwarren.
Also grateful for the continued support from @PanteraCapital @jump_ @coinbase @IOSGVC, as well as new partners @BHDigitalAssets @sound_ventures_ @opensea @aeyakovenko @rajgokal @JaredLeto and more!.
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Coinbase looks like Craigslist.
This is Coinbase's entire suite of products. Best case: Coinbase becomes the Google or Microsoft of crypto and everyone interacts with their products daily in one way or another. Worst case: 95% of these products get beat by startups that are hyper focused on each category
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How much TVL is too much? . Checking TVL turnover can imply how efficiently AMMs are managing their respective TVL. Over the recent period, @BreederDodo appears most efficient according to this parameter.
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As discussed in many pieces, @perpprotocol is currently the market leader in the derivatives DEX space, primarily because it generates the largest volumes.
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Finally, S/O to @DuneAnalytics for providing the tools to analyze a large amount of data and @sui414 for helping us clean the data!.
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Sanctions often fail to achieve their goals and instead accelerate the very outcomes they aim to prevent. The US wanted to block China’s access to advanced chips, yet it pushed Huawei to develop cutting-edge chip technology. Without sanctions, Chinese tech giants would likely.
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@DuneAnalytics Why Metamask has such a large pricing power? What are the wider implications for DeFi? .For full piece and nice charts check
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Our decision to invest in @usualmoney with @IOSGVC lies in the recognition of stablecoins as the biggest frontier in crypto, offering a market cap as expansive as money itself: $80T+. We believe they will master the "mullet" 🧵 👇. @Pierr_Person @hugosdc.
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@Uniswap v3: Race to higher efficiency or amplified LP losses? @haydenzadams @danrobinson @NateHindman @0xMaki @josephdelong.
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Huge milestone! . One of the most agile teams in the space . LFG.
👣Footprint Analytics' data API is now online! . 📧Feel free to contact us by email: analytics@footprint.network
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Trusted data platforms are incompatible with Web 3.0 vision. Most of the Web 3.0 analytics tools are built as .centralized Web 2.0 businesses. Even some of the Web 3.0 native solutions have to be .trusted.
We are teaming up with innovative partners, Defi, and Gamefi ecosystems to deliver the first decentralized data warehouse!
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As they are optimizing the price for the end-users, we should expect them to send most of the volume to the most competitive venues. Generally, we observe a tendency where aggregators allocate most of the volume to the latest Uniswap version, implying better pricing.
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5) hardware wallets - will become obsolete in a few years. Expect major phones to eventually embed hardware wallets into devices. Also, smart contract wallets will largely remove the need for hardware.
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