Paul Sengh
@paulsengh
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co-founder @openblocklabs | prev ML researcher @stanford and CS @carnegiemellon
Palo Alto, CA
Joined January 2022
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Pinned Tweet
Excited to witness the growth of public goods on
@Solana
through RetroPGF!
Powered by
@openblocklabs
🚀
1/ OpenBlock Labs is partnering with Solana Foundation to launch Solana Retroactive Public Goods Funding (RetroPGF) Round 1! You can nominate projects and find out more here:
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Are you a DAO, token holder, or delegate?
@deltafarming
is hosting a DAO governance gala with speakers from
@a16zcrypto
@CMUBlockchain
@osec_io
DM for an invite 😀 See you soon
@EthereumDenver
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LRTs will soon dominate DeFi liquidity, defining the next set of DeFi winners. Will blue chips keep up?
h/t
@openblocklabs
for the most granular data on LRTs and their DeFi integrations
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Latest data from
@openblocklabs
shows that over 1 in 4 validators joining Ethereum are participating in restaking on
@eigenlayer
!
#OpenInnovation
is incredible 🙌
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Excited to be speaking at Solana Breakpoint on verifiable data intelligence and decision-making in DAOs!
See you soon,
@SolanaConf
#Breakpoint2023
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I’ll be speaking today at CryptoEconDay on trust-minimized decision-making in DAOs!
Register now to join 1k cryptoeconomic researchers for a day of learning & networking:
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A sneak peek into some of our discoveries at
@openblocklabs
!
Stay tuned for the full Lido DEX volume report...
Breakdown of top ETH and stETH traders in the
@Uniswap
USDC 0.05% pool
Seems like top 10 entities facilitate almost half of the entire volume
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Excited to be speaking about ZK applications in Singapore alongside
@Biconomy
,
@ParticleNtwrk
,
@Transak
, and
@PolyhedraZK
.
Join us to explore our perspective on ZK at
@openblocklabs
!
#Token2049
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Interested in researching DeFi safety?
Join our Security Team
@deltafarming
to work on pioneering best practices for the industry.
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I'll be speaking next week at the CMU Blockchain Summit on the economics of Ethereum staking. Great to be back in Pittsburgh!
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Any
@DuneAnalytics
Wizards looking for a role?
We're hiring
@openblocklabs
, helping DAOs scale with data-driven incentive optimization.
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Powered by
@openblocklabs
🚀
The DeFi sector on Sui is off to the races.🏇
According to
@DefiLlama
, Sui is the fastest growing non-EVM chain in terms of Total Value Locked (TVL) over the past 30 days.
#StillEarly
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👀👇
I can’t wait to join the Solana Community at
#Breakpoint2023
this year! 📷
Excited to share that I’ll be speaking about Solana RPGF. Hope to see you in Amsterdam!
Join me starting October 30th:
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If you are part of a DAO that is looking to bootstrap DEX liquidity, let’s chat next week at
@EthereumDenver
We’re building something groundbreaking
@deltafarming
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Had a great time on this panel with
@PolyhedraZK
@taikoxyz
@MarlinProtocol
@LineaBuild
@MantaNetwork
!
See you around
#Token2049
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Finance is a poor choice for the first application of blockchain to the real world. Regulatory scrutiny + zero-sum money games deter smart builders.
Positive-sum games like ML will allow blockchain tech to reach the masses much faster.
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@danielgross
"The engineering of consent is the very essence of the democratic process" -- Edward Bernays (father of public relations and nephew of Freud)
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Crises like mev, toxic orderflow, & airdrop farming have taken teams months to realize due to limited optics & data infra -- blockchains aren't as transparent as we say they are.
Trust-minimized optics will allow some protocols to innovate significantly faster than others.
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See you there 👇
Join OpenBlock for an OpenCafe at DevConnect!
Meet the team + our friends from
@CertoraInc
@EspressoSys
@eigenlayer
@gitcoin
@ElectricCapital
!
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Less than 20% of claimed ARB incentives were sold during the STIP.
Below is a breakdown of 💎🤲's across verticals in the
@Arbitrum
ecosystem:
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@PaulFrambot
@EthCC
I gave a talk about this for CryptoEconDay
@EthCC
!
Here's a high-level overview of our first iteration
@openblocklabs
(blog post coming soon), but would love to chat more:
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nothing better than being the only team at the Solana office for the whole Sunday 💪 🚀
@0xCryptoDypto
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I've never understood why most AMMs don't have a historical price chart for the asset you're swapping...
Have we forgot how to design exchanges?
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Excited to contribute to Uniswap governance! 🚀
We are excited to share our statement for the
@Uniswap
delegate race.
Thanks
@devinawalsh
@honn24x
for the support!
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Land was useless for the vast majority of people until they could borrow against it and use it for more than just farming crops (rental income, business, vacation homes, etc.)
Imagine when the same evolution happens for NFT’s and LP tokens…
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@oritheorca
@orca_so
Historical price chart. Surprised how few DEXs have them, when they are a pivotal part of an exchange.
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Check out our conversation with
@Arbitrum
, where we discuss STIP incentive efficacy and the ongoing engagement with
@openblocklabs
!
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"Silicon Valley has a unique (almost evil) knack for understanding the socially destabilizing potential of an invention and then making lots of money out of it"
Rings true for blockchain as well: BTC -> Thiel -> ETH -> mass adoption
h/t
@pscaruffi
Stanford Blockchain Conference is consistently the highest signal-to-noise gathering in crypto.
The concentration of brilliant people makes it hard not to be excited for the future.
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Thanks for having us! Had a lot of great conversations on the future of LP'ing and AMM design with the brilliant folks at
@jump_
🚀
23 teams demoing projects at the end of week 4, stunned
Chicago community came together strong, winners announced soon. Thank you everyone for coming, this was awesome
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@Tristan0x
I think the main wake up call is that decentralized self-custody hasn't been solved, which is a massive set back.
We can't expect people to buy a $100 hardware wallet, metal plate, or $1000 phone just to play in crypto.
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Great proposal! Wrote up some thoughts:
cc:
@UMichBlockchain
@luigidemeo
@abdullahbumar
@StanfordCrypto
It’s time for Uniswap v3 to launch on
@avalancheavax
After consulting with
@avalabsofficial
, we
@UMichBlockchain
have released a proposal on the Uni forums describing why this deployment is important
Let’s break down the proposal step by step👇
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Great to see ambitious founders like
@luketchang
&
@sebastienladuca
receive support for building critical privacy infra on Ethereum!
1/ We're excited to announce our $6M seed round co-led by
@BainCapCrypto
&
@polychain
with participation from
@VitalikButerin
and other members of the Ethereum community.
This round will fund the deployment and continued development of private accounts on Ethereum.
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Solana VC's: composability in DeFi is the best moat!
Solana: here's 1232 bytes for a transaction 😅
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"Not your keys, not your crypto"
*shares keys with chrome extension*
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@garythung
@openblocklabs
lol can’t take credit for the team’s work! lucky to work with a based team
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Epic work from
@jtguibas
and team!!
1/ We are excited to announce Succinct Processor 1 (SP1), our first generation, 100% open-source zkVM that proves arbitrary Rust programs.
SP1 targets an order of magnitude performance improvement vs. existing zkVMs, and is already up to 28x faster for certain programs.
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If a wallet with Tornado’d funds LP’s into a
@Uniswap
pool, does that mean all users interacting with that pool are affected?
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@eddylazzarin
attested cameras exist (i.e. ones that produce a digital signature) + can be combined with zk circuits to permit some level of editing.
for instance, you could have a circuit that proves that an image is within some distance from the original attested one.
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@medhakothari
We can't wait to start building on ETH as well :)
There's so much to learn from dev tooling in each community, and enhancing the build experience across every chain!
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Enabling formal verification -> robust smart contacts -> devs are willing to open source -> more composability -> faster ecosystem growth
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This can be super powerful:
- shows that a photo is original (not photoshopped)
- journalists will be forced to pay for the original, rather than exploit the creator
So
@MagicEden
has a minting picture thingy , take a pic and it mints and sends to your wallet…. Super dope thing and imma mint my feet collection tonight
@BAYC2745
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Who else is going to be in Korea?
Our last
@deltafarming
meetups were 🔥, and it was great to see the community IRL
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Hit up
@openblocklabs
for all your incentive engineering needs 🚀
1/ We are excited to showcase our latest work with the
@Arbitrum
STIP! In the past two weeks, OpenBlock has achieved significant milestones in monitoring the ongoing expenditure of 50M ARB across 30 protocols.
Dive into the details below! 👇🧵
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"DeFi fixes this" was thrown around a lot when major CeFi exchanges blew up.
However, until the training wheels of DeFi are taken off (i.e. over-collateralization), it's hard to compare the two.
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there’s a substantial difference between protocol owned value and protocol controlled value.
one is an investment and the other is a liability
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Liquidity levers are important economic tools, and
@deltafarming
helps new projects optimize these levers through permissionless lending and mining vaults.
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@adamdelsol
@joemccann
Also, the risk of a smart contract exploit goes up significantly from open-sourcing.
Creating robust, battle-tested smart contracts can take years. This is why formal verification will change the landscape.
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the best startups start as weekend projects, and fail when they become weekday burdens.
Hot take:
If the founder doesn’t work on Sundays, the startup won’t get off the ground.
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@hosseeb
@dawnsongtweets
@avichal
@balajis
@danrobinson
@jchervinsky
@StaniKulechov
@Tim_Roughgarden
@ysiu
Applied! Thanks for hosting this!
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Perhaps we’ll see a verticalized set of lend-borrow protocols form, each unlocking a way to borrow against a new class of staked assets.
Who’s providing the “mortgages” to on-chain artists, yield farmers, NFT musicians, etc? What appraisal mechanisms will be used?
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@sebasbensu
There’s a lack of experimentation in both the coordination and incentive models of traditional orgs, causing a plateau. What’s happening with DAOs—although still in infancy—seems most promising in solving this.
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In DeFi, the leverage is even stronger:
Coinbase employees: ~5,000
Coinbase 1W volume: ~$12.5B
Uniswap employees: 85
Uniswap 1W volume: $9.52B
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@boredGenius
Interesting observation! However, it’s impossible to have pmf if you’re building in a completely new market. So does that mean you don’t build the product?
It’s a chicken and egg problem, and can take 5-10+ years to port over the tradfi network.
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hanging out in Discord with a bunch of kind DeFi builders is better than any office space or café tbh
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@Route2FI
not biased at all, but delta-neutral yield strategies seem pretty cool:
@deltafarming
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If you knew anything about the Solana ecosystem, you’d know that
@openbookdex
(an open-source order book) is totally different from
@openblocklabs
.
Sad to see reputable teams stoop this low for the sake of marketing.
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Hot wallets are always going to be a thing if we want people to pay for coffee, groceries, etc.
The
@solanamobile
Saga phone could not come sooner...
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@binji_x
Not exactly development, but
@openblocklabs
for ecosystem incentives + sustainable growth!
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@joemccann
I'd be curious to see the efficacy of gas rebates on developer activity (excluding DeFi).
Until devs can waste blockspace without thinking about it, I doubt we'll see moonshot apps built on blockchains.
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progression of web3:
- 25-30 year olds want to own their own internet and take the baton from the previous generation
- gen Z (currently in school/college) are inspired by this, and join force.
- new tech becomes dominant among the youngest/brightest. cycle continues.
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@0xkydo
@sreeramkannan
@soubhik_deb
@eigenlayer
Congrats! Excited to see your work at
@eigenlayer
:)
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@spencernoon
That’s if you believe *real* PMF is based on the early adopters of today (not exactly sharks when compared to TradFi markets)! But with high TPS, you can innovate on cooler stuff (CLOBs, delta rebalancing, etc), then approach the sharks when they come :)
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Somehow the federal reserve can lower reserve ratios (to make it more liquid) and increase discount rates (to make it less liquid)
Somehow the typical "tokenomics playbook" includes both liquidity mining (to make it more liquid) and staking (to make it less liquid)
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