Kevin Lepsoe
@lepsoe
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Hyperscaling blockchains and Founder of @infinitymaxima , @ethgasofficial
Hong Kong · London · New York
Joined May 2009
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Congrats team on pushing out this fine piece of analytical art! On behalf of the Ethereum community, we salute you 🫡😅
We’re excited to announce the beta launch of our GasExplorer, an analytics platform that comprehensively tracks and sorts information about the Gas Markets for Users, Protocols, Validators and Block Builders. Visit 🔥🔥🔥
Gas prices affect each and every
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Booyag, let's get it on!
@ETHGASofficial
5:50pm-6:30pm | Cooking with Gas and Preconfirmations |
@0xdabaojian
(
@lu_ban_
),
@_kabat_
(
@GazelleProtocol
),
@lepsoe
(
@ETHGASofficial
),
@MuratLite
(
@primev_xyz
)
Moderated by
@mempirate
(
@chainbound_
)
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Some fascinating times in the Ethereum ETF space with
@vaneck_us
being the latest with their SEC approval (congrats!).
Blockchains get their value from a variety of inputs considering the degree of decentralization, security, design, throughput, fees, network effects,
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Innovation in DeFi is often (sadly) characterized by a completely new set of terminology and behaviors many of which are superfluous.
We've built a 'Rates Orderbook' for DeFi - but if you'd like to watch/read a longer, more crypto-native description, see here :)
How does DeFi double in TVL almost overnight?
Introducing the Two Market Model (TMM).
TMM is an even notional / principal matching mechanic that is going to transform
#DeFi
2.0 to become a more efficient model for lending and borrowing protocols.
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Front and centre of the
@stable_summit
with
@Nick_van_Eck
of
@AgoraDollar
,
@aklamun
of
@GyroStable
,
@MatthewUSDV
of
@USDV_Money
,
@itspublu
of
@QiDaoProtocol
,
@ameensol
of
@reflexerfinance
, and
@OfficialESC
of
@tokendynamics
on yield-bearing stablecoins discussing sources /
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In ref to
@pumatheuma
's thread on (clarifying) multiple, concurrent proposers, if the goal is around censorship resistance then the optimal number of proposers is probably ~2...3..maybe.
Multiple (e.g. 10) proposers introduces fragmentation for Traders/Searchers/Everyone which
multiple concurrent proposers is most egalitarian thing we've ever seen. It's insanely ambitious, and if it works, can really reshape the fabric of society
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@cburniske
Absolutely.
We need to stay focused on the end-goal. If that is, in DeFi's case, to challenge TradFi, then we need to optimize for that objective across both web2+web3 before we can move entirely to web3 (which isn't ready...yet!).
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It's kinda like a personal trainer. Once you know what to do, you can basically exercise by yourself and figure out your own path.
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If there was an analogy here, it would be "bringing balance to the force".
Crypto trades entirely like the 'Equities' market, without it's 'Fixed Income' equivalent. Today, we launch the foundations of crypto fixed income... come, join us!
#DeFi
We're excited to announce and share our
#Testnet
experience with you!
It's been a year in development and this is but a preview of what's to come...
Won't you join us?
#ToInfinityandBeyond
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TDIL that Hawaiian pizza was invented by a Greek man living in Canada who was likely inspired by Chinese-American cuisine.
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VCs are deploying hundreds of millions into DeFi protocols without anyone who understands how financial products are structured. This doesn't help. Hire an wall street associate in structuring for $200k, and triple your risk-adjusted return on your fund. Super basic.
There were people in TradFi called Financial Engineers that architected financial products and today's leading DeFi protocols weren't built by them. This is why DeFi evolution has stalled - back-of-the-envelope builds don't align with theoretical finance and are thus meh 😑
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The status quo is about to change. This is why.
How do we evolve to
#DeFi
2.0? Improve the inefficiencies that are plaguing protocols today.
This first article/video from our 'Ahead of the Curve Series' draws out the importance of
#Utilisation
& how the current DeFi ecosystem could grow 10x overnight.
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$12bln of ETH locked in liquid restaking initiatives this panel at the
@stable_summit
is looking to delineate and quantify the various risks involved
@WormholeOracle
at
@LlamaRisk
, Walter Li at
@gauntlet_xyz
,
@ChundaMcCain
at
@ionprotocol
,
@LippmanEthan
at
@ebisu_finance
,
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There were people in TradFi called Financial Engineers that architected financial products and today's leading DeFi protocols weren't built by them. This is why DeFi evolution has stalled - back-of-the-envelope builds don't align with theoretical finance and are thus meh 😑
Crypto is in need of more architects.
Not necessarily people that physically build but rather people that *build* good ideas.
VCs, traders, etc don’t fulfill this role.
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@forgeforth_
, thx for the shout:
1/ The problem with Lending & Fixed Rate protocols is that they're generally NOT interoperable with one another.
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Diving deep into
@eigenlayer
with
@vyas_krishnan
. Raises some good points on scalability and the overall GTM/viability from an infra and capital perspective for L2s especially. Makes complete sense although I understood very little!
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It's not everyday you meet folks that share your vision and want to join you in changing how this world works... these are some of our new friends...
Infinity Exchange is proud to announce our seed round with
@GSR_io
,
@cmsholdings
,
@CsquaredVC
, SIG DT Investments, a Susquehanna International Group company,
@FlowTraders
,
@block0
,
@menthapartners
and more! Read below👇
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At
@ETHGASofficial
, we are revolutionizing transaction processing by offering real-time blockspace commitments. Our platform enables transactions to be settled in as little as **3 milliseconds**, a crucial advantage for traders needing to act swiftly in volatile markets.
This
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Remember what we're building for. Don't get distracted by the headlines. The more stable you can be today, the more stability we can bring to the system tomorrow.
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Pretty excited to have these folks alongside us bridging the old with the new. Follow this space!
We are delighted to announce a strategic investment by
@Nomura
's
@LaserDigital_
to help accelerate Infinity Exchange's development of critical infrastructure for "Institutional DeFi or "Hybrid Finance."
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8/10 Making Real Time Gas Insights Accessible:
@kevinxpang
suggested to
@MaxResnick1
that
@MetaMask
should have a feature that shows the expected time of inclusion for a given gas fee.
My take: We've got you covered! Go to , there's real-time streaming
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Lots of good folks in thePoint72 team. If any of you are in Asia, let's chat!
Scoop: billionaire Steve Cohen's firm Point72 Ventures has laid off its fintech investment team as part of a shift in strategy away from fintech and crypto to (surprise!) AI.
Multiple partners are expected to leave. By
@emilymason00
and me for
@forbes
👀
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For those friends and ex-colleagues of mine in Singapore, come by and check out how
#FixedIncome
is rapidly evolving in the sphere of Digital Assets.
A quick 🧵1/6...
Come see
@YoannTurpin1
, Co-Founder of
@wintermute_t
, &
@lepsoe
, Founder of
@infinitymaxima
discuss the Future of
#FixedIncome
at “The Convergence of
#Crypto
&
#Fiat
Markets” moderated by Gakim Solomons of
@scventuresDNA
at
@sgfintechfest
!
Sign up!👉
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How to Price Preconfs - A Thought Experiment -
- Gas Prices are 1 Gwei
- Preconf prices are 1 Gwei
In an environment with preconfs, that means it costs
- 30mm Gas x 2 Gwei = 60mm Gwei
- 60mm Gwei = 0.06 ETH
- 0.06 ETH x $2,500 = $150
It costs $150 to buy a block of Ethereum,
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Super big for fast, efficient and fair liquidations. Something every protocol should look into immediately for their end users, us
@infinitymaxima
@ETHGASofficial
included.
Congrats
@PythNetwork
team!
It’s time to take back control and eliminate MEV.
Introducing: Express Relay—priority auctions for a more self-sovereign DeFi 🔮
Remove the extractive role of miners, roll out protocols faster, and instantly access a network of top searchers.
Learn more:
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A shining light amidst this darkness
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6/ The issue more broadly is that while ERC20 tokens are composable, the price/credit risks they come with are not and unless a rate protocol can manage these credit risks, the protocol will be made obsolete when a new player can.
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Woohoo!! Serious crypto rates ftw 💪💪💪
@infinitymaxima
🚀🏆
@infinitymaxima
Founder and CEO
@lepsoe
was thrilled to pitch and WIN the CodeCraft Hackathon 2023 at the
#Web3
Connect Conference by
@CsquaredVC
! 2️⃣♾️&🚀🏆
We’re buidlng the future of finance!
#toinfinityandbeyond
@Crypto_Ciara
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Pretty excited about this - for millions of Squarespace sites, we can now make them accessible in China. Awesome.
Does
#Squarespace
work in China? Learn how the
#splinternet
effects websites built with Squarespace, and what to do about it.
@squarespace
@webperftips
#webperf
#china
#splinternet
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2/10 The Panel: We had a spectrum of various experts from Researchers, to Blockbuilders, Market Makers, and most importantly, Builders. Those on the left being 'No' to Preconfs, and those on the right being 'Yes' to Preconfs:
-
@kevinxpang
from
@symbolicvc
, No
-
@terencechain
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Thanks for having me! With >100mm higher net-worth English readers in China, there are a number of easy wins on the table for Western media across technology, sports, various industry media, and more...
@ChinafyTech
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How Bad are Sites Actually in China? This guide will help:
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Scaling Web3 infrastructure with some of the core players
@doishpelota
(
@infinitymaxima
) ,
@KemarTiti
(
@PythNetwork
),
@GThabot
(
@BlockdaemonHQ
), and
@ketan_jog
(
@absinthe_labs
) at the
@caladanxyz
@ETHGASofficial
ETGScale event today
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If Crypto was a startup, what metrics would we use to measure its progress? I'm thinking
@mixpanel
meets crypto - what are those endpoints we integrate, and what should we be looking for?
Let me know if you have any ideas
Crypto’s Metrics for Success
We dove down a (short) rabbit hole this morning with a few thoughts... 🐇🕳️🤔
[ Note: These are my personal views, and not that of the firm ] -
@lepsoe
A short🧵1/18...
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So proud of everyone at
@teamnotey
you guys are an amazing bunch. I'm so glad our paths have crossed.
#lucky
#blessings
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These partnerships are a long time in progress but super important for those run jng cross border businesses. Really looking forward to this 👍👍
On the news today: Chinafy has officially joined the Alibaba Cloud Technology Partner Network!
More about the latest partnership here:
#WebPerformance
#SaaS
#Alibaba
#Cloud
#China
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@jessepollak
@base
Hey Jesse, the
@ETHGASofficial
has built this out - gas futures market as well as tokenized gas (stable gas) for payment via AA. Reached out to the
@base
team last week but there was no interest - let's talk, will DM
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And shortly, you could simply buy gas when it's low, and sell it when it's high with
@ETHGASofficial
Ethereum is a buy on low gas and a sell on high gas, despite burn narratives that would tell you otherwise
This is bc high gas occurs alongside overall unsustainable activity, while low gas is the opposite
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Heading to the
@stable_summit
in Brussels this weekend July 6/7th hosted by
@StakeCapital
. Looking forward to catching up with old friends and meeting new ones.
If anyone is around and wants to talk Financy stuff like Interest Rates or Gas Risk Management, let's chat!
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Thanks for having me! There's an incredible opportunity to i) remove gas entirely from the crypto experience and ii) add new features like block inclusion, with wallets at the heart of it. Let's do this again 💪 💪
It was a pleasure moderating a panel on the future of the onchain economy! The recording is now live:
🙏 to Jan Albers from
@safe
,
@chintanturakhia
from
@CoinbaseWallet
,
@DimaKogan
from
@FordefiHQ
, and
@lepsoe
from
@ETHGASofficial
for joining!
#ethcc2024
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Internet: Thank you
Chinafy: 💪💪💪
We've just updated our Technologies page!
Chinafy strives to help your website thrive in China - that means supporting your tech stack of choice in China.
Don't see yours on the list (yet)? Let us know!
#splinternet
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When you show a trader arbitrage, they believe you. When you show anyone else they don't. We need to start educating people that free money does exist.
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@batraatin
@TwentySevenVC
You're far fitter than those much younger than you with those ultra-hikes you've been doing. Keep crushing it 💪💪💪
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10/10 Is the Audience For/Against Preconfs? There were 25 'Fors', 15 'Against' and 7 'Undecided'.
The 'No/Against' team comprising
@kevinxpang
@terencechain
@MaxResnick1
had to have a bit of deathly hot sauce as a 'reward' for being on the losing team.
-- End of Thread --
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It's getting started, have done a batch of these and are more able to easily/quickly address them. If China is on the radar, we can help 👍
Do
@Shopify
sites work in
#China
? Here are 10 examples of sites that don't (yet), but (easily) could. 🤔
Let's launch faster and sell more, folks.
#Shopify
#weloveshopify
#splinternet
#webdev
#webperf
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Almost 20yrs ago I moved to Asia when China was still known as the 'sleeping giant'.. look at 'er go..
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@greenfield_cap
Well done, team. Awesome insights into stat arb, and the broader mev/searcher community
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See y'all there!
@infinitymaxima
is going to Austin, TX for
@consensus2023
by
@CoinDesk
! ♾
Will you be there too?🤠🌵
If you're in
#DeFi
or
#TradFi
and want to discuss the
#FutureofFinance
with
@lepsoe
let's meet up!
#Consensus2023
#CoinDesk
#HyFi
#IFS
#ToInfinityandBeyond
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Basically everything going through
@Uniswap
this (Asian) afternoon is private transactions
@ETHGASofficial
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While the world stands around talking about the future of crypto, the future is happening here, now, in Asia.
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My favorite ski resort,
@WhistlerBlckcmb
coming in at 40-50secs. Ouch!
#chinaperformance
Our Global Speed Test is now on Product Hunt! Test from 18 locations including 3 in China, share any feedback you have, and let us know your best and worst performing finds! 🚀🐱
@ProductHunt
#webperformance
#devtools
#thetwointernets
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Thx for giving us a bit of hope
@jodiewyc
Optimistic observations in the face of Covid-19 by
#socialclosening
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Gone are the good ol' days of editorial oversight? Maybe, maybe not.
It's somewhat binary: on the one side there are companies that are doing well + have lots of money, and on the other hand there are overly-funded venture-backed companies funded by groupthink...and with enough
Pretty insane hearing that companies have to pay for speaking spots at conference / side events - becomes a matter of who has the most money as opposed to curating the most interesting talks or discussions
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@Douglascrets
Thanks
@Douglascrets
, this is just the beginning. Many more insights and deep dives on the way.
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@MetaMaskSupport
How does one go about removing themselves from the Metamask phishing/warning blacklist. We've been inappropriately flagged, are launching soon and nobody is responding to github requests
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Not sure there is anyone better for this than you, sir. Congrats!
There is a Certain Idea of Ethereum. Build it with us (I am the inaugural Head of Investments
@the_matter_labs
⇌
@zksync
).
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Hugely positive for the UK crypto industry and those in the institutional crypto space. Go UK!
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An important moment as we set the industry up for institutional fixed income. Super excited for this 💪💪💪
@infinitymaxima
CEO
@lepsoe
, joins leaders from
@wintermute_t
,
@galaxyhq
,
@FireblocksHQ
,
@BCW_llc
, &
@GSR_io
live in
#HongKong
🇭🇰 to discuss - Fixed Income: The Convergence of Crypto & Fiat Financial Markets.
Spaces limited, register now👉
#Futureoffinance
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Yeah, def makes sense
Hey
@StackOverflow
, have you guys ever considered going into China? 🤔 ...Because we think it'd make sense
➡️
#stackoverflow
#china
#chinaperformance
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@casey_lau
@sunil_extreme
Not sure about beer in the morning, but if coffee is allowed, I'm in!
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Atomizing Fixed Income and Credit markets into their constituent components, you're able to strip out layers of inefficiency, and radically change both i) how we interact with one another, and ii) how fast the markets can change.
🧵5/6
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@Melt_Dem
Network effect of users and capital of infra. Take
@bloXrouteLabs
for example, the more people that use them, the better their product gets (through internal investment) and the larger their moat becomes. The only way to supplant them would be to spend 10x the money.
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@baishancloud
@jodiewyc
@ChinafyTech
Well done
@jodiewyc
! Making sites faster and more accessible in China
#webperf
0
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@cburniske
For now (in respect of DeFi), Web3 can't compete. It's not even close and everyone knows it.
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One of the difficulties in China is in understanding if/how sites are indexed by Search engines. We've added a bit of transparency...if I had a penny for each site that wasn't properly SEO'd...
#SEO
#webperf
#China
Ever wondered how your site indexed in China vs...well, everywhere else? Wonder no more, and just test it.
Anyone getting good results across the board? 🤷♀️
#SEO
#ChinaSEO
@Baidu_Inc
@Google
#Sogou
@bing
#Webperformance
#shenma
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These markets are not only more complex, they're far larger, more opaque, and more flexible than their equity counterparts. Come and join us as discuss how the fixed income markets of the future will evolve.
🧵6/6
#ToInfinityandBeyond
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Now this is crazy! Putting Out a Fire Using Nothing But Bass
thx
@firstwefeast
via
@teamnotey
http://t.co/mvc9Dr2aRc
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In to crypto and didn't attend the
#Web3Festival
in HK? You're not into crypto.
Very different vibe than other events with China (rather, HK) now back on the radar.
This is day 1 with thx to
@boxmining
for putting this together
🔥 You won’t believe what happened at the
#Web3Festival
in
#HongKong
! Is
#China
really setting up Hong Kong to be the Asia
#Crypto
Hub? Watch now to find out!
#Web3
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Consider the case for tokenized treasuries and stablecoin yields moving in parity. We get stability w/ rates, composability with futures trading, cross currency swap hedging for miners/validators and now crypto systemic risk is reduced. Your statement is too broad and 100% wrong.
@cburniske
RWAs will bring in so much ridiculous systemic risk I can't even
we have enough systemic risk with USDC and USDT as it is fam
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How does exactly one go about shorting a Uniswap or Curve LP position?
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Powerful delivery by
@howardlutnick
on his support for both
@Tether_to
and Bitcoin. Well worth a full watch.
With a BTC-backed lending business of this size, alongside a set of custodians willing to support this, we'll start to see much faster evolution and innovation in the
I am a fan of
#Bitcoin
. Cantor Fitzgerald is a fan of Bitcoin, and our investment bank is a rockstar in the digital asset space. We are just getting started.
Watch my full speech at
@TheBitcoinConf
Nashville 2024.
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7/10 Intent x Preconfs: It started as a thread to the tune of "when do Execution Preconfs Not Matter?":
@MuratLite
raised a poing that execution preconfs don't matter if I'm doing intent or off-chain based trading. In these cases, Inclusion and a simple transfer is all I need.
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Everything about the upcoming
#iPhone6S
launch - which one you getting?
@teamnotey
#bestblogs
http://t.co/xfHJh3aejV
http://t.co/4dniZ2IUUV
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How about selling blockspace via preconf + sharing in some of the secondary trading revenues for those preconfs?
Look, as a mainnet validator, I’m happy to take on more duties for extra compensation: I can sequence rollups, create ILs or propose blocks simultaneously with other proposers. Just tell me which relay I need to connect to.
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@startupshk
,
@dileung
and
@naomilvdv
said nobody can drink like they do and they'll run point on 7-11 crawl
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If this is the case then it invalidates most Blockchains as exchange infra alongside the Proposer-Relayer-Builders being complicit in nefarious activity. This'll open up a new suite of more anon infra players and force more activity into trusted networks... Watch this space!
MEV is treated as clear example of illegal market abuse by EU draft standards specifying MiCA rules.
ESMA (the EU Securities & Markets Authority) has recently published its third consultation package outlining its proposed technical standards detailing how to implement some of
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9/10 Final Moments: 🤜🤛 It went down a rabbit hole where
@MaxResnick1
was like "I just don't get who'd use preconfs, like who prebooks rides on Uber? (one person raises his hand supporting Max's thesis)"
An audience member then highlights "it's about instant confirmation
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Well this is super racist.. we should start testing/quarantining people based on their gender, political views, and knowledge of shakespeare
#Racism
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Thx Team for putting this together! Some important considerations when considering a global audience that includes China
How do
@Squarespace
and
@Wix
sites compare off-the-shelf in China?
Breaking it down with some real-life examples in our latest article.
#splinternet
#webperf
#squarespaceinchina
#wixinchina
#China
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@igrigorik
It's unfortunate that China takes 14 secs for that site. If they were using
@ChinafyTech
, it'd be 5 secs. See this
@WHotels
example ➡️
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@Galois_Capital
The hybrid model with risk/order matching offchain and settlement onchain is the winner. We can do 1000TPS on Ethereum, with frequent cash settlements. Testnet coming in a couple days. Will keep you posted.
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