Soumya Basu
@soumyab8
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Co-founder & CEO @VigilMarkets. Prev: @CornellCIS PhD
New York, NY
Joined February 2013
The interop problem isn't solely a technical problem. It requires an entity to stand up and take on the technical (and financial) risk of all of these interconnected systems. afaik, @VigilMarkets is the only one that's designed to interop across both TradFi and DeFi ecosystems.
I am becoming increasingly convinced that the only entity that can solve Ethereum crosschain interop is the EF. There's just no incentive for big players to collaborate. Everyone is building their own fiefdoms as their technological trees are diverging. The EF must hurry to act.
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RT @dhrubabasu_: Forget copying TradFi with tiny upgrades. @VigilMarkets is unifying lit and dark pools for every trader. It’s not a margi….
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The solution that CZ proposes is: "make another trading venue for whales" which replicates the insider games in TradFi and fragments markets. @VigilMarkets's approach allows all types of flows to interact, solving info leakage without fragmenting markets.
Given recent events, I think now might be a good time for someone to launch a dark pool perp DEX. I have always been puzzled with the fact that everyone can see your orders in real-time on a DEX. The problem is worse on a perp DEX where there are liquidations. Even with a CEX.
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RT @dhrubabasu_: Had a blast joining @eshita and @khushii_w for their new bips & sips series this past Friday! 🎙️🍷. Catch the full recordin….
dhruba.xyz
Dhruba joins Eshita and Khushi on bips & sips to discuss why decentralization isn't the goal. They get into tradeoffs, power, and when inclusion latency > execution latency.
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New year, new city! I've moved out of Ithaca and into NYC. To everyone who made my graduate studies in Ithaca so memorable- thank you. Ithaca and Cornell will always have a special place in my heart. If you're in the city and would like to catch up, please lmk! Always happy to.
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RT @chadfowler: I'm very interested in talking to teams looking to solve OSS supply chain issues. The field is currently such a mess, it s….
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RT @chadfowler: Hey @golang folks! This is a great opportunity to learn a domain deeply from some of the leading experts in the industry.….
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We're growing the team at Nuveaux Trading! Come join us to build the next generation trading venue.
At @NuveauxTrading, we are building a robust, high-throughput, low-latency exchange to deliver fair order execution to the masses. We're expanding our team and are actively looking for engineers passionate about building distributed systems. Connect with us if that’s you!.
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RT @IFCA_Conference: After the Satoshi grace period, the FC'25 deadline has been set to 11 October, 2024 (AoE). This is a firm deadline! Go….
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Relatedly, suppose you knew that the true probability of an event was 60%. Polymarket had the probability at 65%. Is there a way to make a trade that's guaranteed to make money? Or is it only positive EV?.
Someone explain to me how Polymarket is an accurate measure of political sentiment when it’s a crypto platform and the users are massively biased against one political party?. Am I being naive or are a lot of you ignoring this important data point?
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So a web3 business without a token should either reformulate the business as a web2 business (and pitch web2 investors) OR use a token to decentralize. The token option might not fall into the way everyone else does tokens. Do it the right way, even if its harder. 3/3.
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The way I think about it is this: a web3 business needs to be decentralized in some way. Otherwise, it’s a web2 business. The most efficient way to achieve decentralization at scale is with a token, so the token should be solving a core business problem. 2/3.
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🙋‍♂️I resisted the token for a while. After talking to someone advising me, I realized that was as silly as doing a token for the sake of having a token. 1/3.
A small few Web3 founders, when they stand in front of the Mirror of Erised, seek the durable business. They instinctively resist the token. They believe that the token - devoid of economic content - will eventually strip their organisation of its nutritional value. I see a.
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Looking forward to attending again! The program looks excellent as always.
Cornell Blockchain Conference 2024 Agenda🧑‍💻. Are you ready for a fantastic time tomorrow? Peep the 🔥 line-up waiting for you at @cornell_tech campus!. Look forward to:.📢 9 keynotes and 14 panels featuring top minds from Ava Labs, a16z crypto, IC3, and Alchemy and more!.💼
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RT @dhrubabasu_: 0/ Introducing ACP-77: Reinventing Subnets. ACP-77 supersedes ACP-13: Subnet-Only Validators (SOVs). Read the full details….
github.com
Overhaul Subnet creation and management to unlock increased flexibility for Subnet creators by: Separating Subnet Validators from Primary Network Validators (Primary Network Partial Sync, Removal ...
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This is precisely why I started building in the trade execution space- the current route is headed towards “TradFi but worse”. Well articulated by @snoopy_mev.
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5/5 The fundamental problem is how market makers are incentivized in TradFi. It's not an issue that can be solved with regulation- I see potential solutions emerging from the mechanism design research in crypto.
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