the difference between me and you is that you're asking yourself "when can i stop pushing this boulder up the hill"
hoping '25 repeats '21 and you can finally "make it"
while i've accepted the absurdity of the human condition
that human meaning is found in the endless struggle
how to start a failed startup:
1) attend every conference
2) rent a fancy office space
3) hire faang engineers
4) hire bd/sales before pmf
5) glorify headcount
6) enter infinite partnerships
7) listen to vc product suggestions
8) make everybody happy
9) chase narratives
10)
Drift v2 leverages Solana's unique properties to create a decentralized limit order book (DLOB).
The DLOB relies on an off-chain Keeper Network to match & fill orders.
I'm looking for a dev that's passionate about DeFi/Solana Infra to help bootstrap the DLOB's Keeper Network 🧵
Stoked to be judging
@solana
's grizzlython!
If you're on the fence, I suggest you send it. I did the May 2021 hackathon and ended up falling in love with the tech/community. Great opportunity to learn rust and start a project to work on full-time.
recent solana releases have made a noticeable improvement to performance
confirmation times are getting shorter and more consistent
we simply keep hill climbing 🏃♂️⛰️
if solana defi fails, solana nfts fail
nfts are valued based on future utility and the failure of solana defi would foreshadow a lack of utility for nfts
How did Drift add prediction markets so fast?
Prediction markets are fundamentally a derivative that settle to 0 or 1.
The primary change to Drift was allowing the margin system to safely support the 0 or 1 settlement logic.
With perps, the margin requirement for a position is
It's mind blowing that people distributed across the world have developed a common culture. We're immersed in it, so it's easy to take for granted, but this is crazy.
Feel like most crypto teams have poor execution as:
- easy fundraising hurts fiscal discipline
- it's tough managing a remote team
- most founders are inexperienced
Plenty of space for focused teams to come in and win.
@benlandautaylor
Whats the odds there's a selection bias here where 1) normal people that do LSD don't talk about it and 2) the mystics are the loudest
do yall remember when
@_ilmoi
and
@0xrwu
would tag dozens of people on twitter with their questions about solano development?
from nobodys to NFT Titans in one cycle
study persistence
vanilla CLOB won't work on-chain
modifications at the validator or protocol level are needed to even the playing field between takers/makers
drift v2 attempts to do this at protocol level via its dlob and auction system
3 months from now solana performance will look much much better
Main things that will drive this:
1) core solana devs are working extremely hard to improve the networking stack
2) dapp develops will modify their architecture based on the new level of demand
For drift
If your team is new to solana development, you should almost definitely just use anchor
Time-to-market likely trumps the performance improvements you get from writing a `native` program
"But i see smart devs saying anchor sucks"
Well, there are only two types of frameworks:
When people asked me how I got into crypto I tell them it was inflation, bitcoin, smart contracts, etc but honestly it was that my girlfriend dumped me during covid and there was nothing else to do.
bull case for Solana is that it’s sort of like a rocket ship that’s been patched up with duct tape and popsicle sticks yet it somehow still manages to break through the stratosphere
Introducing $DRIFT — the Drift Governance Token.
DRIFT is the governance token of Drift Protocol, the largest open-sourced perpetual futures exchange built on Solana.
drift v2 migration to pyth pull oracles is nearly complete
we're seeing way better oracle performance, especially on long tails markets
we were seeing 1000+ slot staleness before 😱
now the worst staleness we see is ~50
hill climbing 🏃
it's a meme that all of tradfi runs on CLOBs
exchange is often facilitated via other mechanisms
dark pools proliferated because of the `mev` being leaked to hft firms
amms/clobs will provide backstop liquidity but ultimately defi will see its own dark pools
looking for a `Validator Engineer` to join the drift squad
you'll max out power of drift's validator, which has ~250k SOL and still growing
responsibilities include:
- improving drift tx sending stack (making the most of stake-weighted QoS)
- secure drift protocol by running
eth blocktimes are too long (10s) to conduct dutch auctions on-chain, thus more of UniswapX will be forced off-chain
solana blocktimes are 400ms, granular enough for the drift v2 dutch auctions to be conducted entirely on-chain
OPOS 🫡
Say you graduated last year with your CS bachelor’s. No internships during school. Been doing lots of job applications, got some interviews but no offers. Grinding leetcode + side projects all the while.
Do u keep pushing on? Start looking at non-swe roles? What’s ur next move?
Made an example on how to make cross-program invocations (cpi's) to
@DriftProtocol
.
It shows how to deposit, withdraw and open/close positions from your solana program.
When you work for a big company, you see the specialization of employees and think "I certainly don't know everything I need to start a company".
But the specialization comes from big companies squeezing out efficiency/value. You don't need to know everything to start a company.
.
@circle
Cross-Chain Transfer Protocol (cctp) is going to be a huge boon for solana ecosystem
excited to see it a first class feature on drift ui
hoping
@xNFT_Backpack
@phantom
have their eye on it as well
drunkenmiller, buffet and munger all prescribe:
“put all your eggs in one basket, and watch that basket”
the tendency for people in crypto to try to catch every narrative and manage dozens of positions feels like an antipattern
have some conviction anon
one dev’s quest to make it to breakpoint:
1) fly miami to boston tn
2) crash w friend and borrow his car
3) wake up at dawn and drive to new hampshire
4) acquire renewed passport
5) drive back to boston
6) buy friend dinner
7) catch redeye from boston to amsterdam
8) profit
when an outsider tells you you’re late, their rationalizing their own inability to make the move
at 21 my consultant friend said it was to late to start coding
at 27 my manager said it was to late to move to crypto
trust your gut, fade the cowards