joshua
@joshuagunnn
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@aori_io MEV + API Terrorist my lawyer says to add that this is MY OPINION!
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Joined November 2020
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Hopefully a slight reprieve for you all, here's my newest paulnotsaul article on what I think we should build in 2023:
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Holy shit. 79% of Uniswap volume is now sandwich attack trades. WTF!
THIS is the product you shill on twitter? That you say is INFINITE MONEY PRINTER? Is THIS JOKE? Maybe I was being TOO KIND by saying that you as a trader get BUTT FUCKED by making a trade. Absolutely DISGUSTING
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I MISS him SO MUCH, rest in PEACE BRAH
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I see a LOT of BAD takes in the replies of this thread.
You want to talk about MEV? OK WE talk about MEV.
When you hear fancy people say MEV is theft, FLASHLOANS are MISTAKE, ETC. ETC. This is PURE COPE!
1/n
Controversial opinion: MEV is normalizing and enabling theft on chain.
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Time for LONG JOSHUA RANT. PLS READ if you are considering LPing or are on an AMM.
The FACT that HAYden had to write this thread shows he’s aware of the DISASTER that LPing has been for all users of Uniswap except for the “professional” liquidity providers he also denies exist
Some thoughts on the term “impermanent loss”
AMMs make liquidity provision accessible to new and wider audiences, with significantly less sophistication than traditional market makers
I made up the word impermanent loss (IL) to help describe to new audiences (NOT professional
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If u are RUST dev or SOLIDITY dev
pls reach out, we hiring :) Especially if u r fan of paradigm dev tools. ARTEMIS & CRYO GOOD!
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The move from smart contracts to off-chain infrastructure that has permission-less settlement will be fast and shocking.
I think this will be the clear next move across EVERY type of dapp.
1/n
26/ And that's because the "reach quantity" was the upper bound for reaching the tick boundary was calculated as ...22080000, whereas the exploiter set a swap quantity of ...220799999
That shows just how carefully engineered this exploit was. The check failed by <0.00000000001%
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Hello everyone,
First and absolutely foremost: We want to acknowledge that this has been a trying week for the crypto industry and for lenders and borrowers in particular.
dAMM did not experience ANY losses from our borrowers. 1/12
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We’re sorry everyone, we lied.
We said that we’d stop doing airdrops, and we said that we’d launch the first bond redemptions with a 20% discount, but we were wrong.
So we’re here to apologize… 1/4
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I think I need to write important thread on perhaps one of the most under explored questions in DeFi…
if market makers are so sophisticated why do ONLY 2 dominate all on-chain trading?
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@ID_AA_Carmack
Do you expect good user experience from Microsoft? The same company that brought you Microsoft Teams and internet explorer?
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Hello my frens today I wish to write you a thread on two things
1. Why I love Aori
2. Give you some Aori alpha if you’re interested in MEV, trade on-chain at all, or want to build cool things on Aori (skip 16/n for this)
ok lets begin…
1/n
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wanted to write about protocol design having studied it quite a bit for the last few months. New article series called paulnotsaul coming your way:
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my goal is for dAMM to be the most generous platform in crypto to the users who believe in our long term mission.
r u ready for the fireworks tonight?
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@trading_peter
chapstick is a scam to make you use more chapstick. your lips get used to it and stop producing oil over time
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Yes yes let me TELL you about how AORI going to REVOLUTIONIZE trading yes.
See you need to have BIG BRAIN to understand this, you GET ME? Do YOU have BIG BRAIN?
Ok ok we begin
1/n
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You’re telling me the future of on-chain liquidity is off? Im hearing this for the first time, wow.
wild chart from new delphi report on amms, although not entirely unpredictable
77% of uniswapx volume is being filled with off-chain inventory (h/t
@yeak__
@NotSoAnonJoo
), mostly from one market maker (removing the aug 3 outlier it's still 69%)
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I'm incredibly concerned about GMX and it's ability to stay above watermark for LP's. In the last 100 days, GMX LP's have lost: $32,913,000
In total, that is 23% of ALL fees generated, ever.
GLP will become a net loser for all LP's unless a change is made soon.
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One of these is the docs of Clearpool, founded Sept. 2021
One of these is the docs of Ribbon Lend, launched Sept. 2022
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Introducing AI INU, the first token and frontend entirely written by ChatGPT!
Myself and
@hmsimha
spent a few hours getting ChatGPT to build an AI dog memecoin (all code by ChatGPT, background image by DALLE).
You can check it out here:
(Repos below)
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The reason there has been so little innovation in onchain liquidity since
xyk => univ3
Is because it’s unbelievably hard to build generalized trading systems that can integrate new schema.
@aori_io
is the interface all liquidity, and will unlock never before seen forms of LPing
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@g_shullenberger
Except he's completely correct, the masses always recite the dogma of what is in power
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@josephdelong
the shock is real when I tell non devs that the best engineering team in crypto is Opensea
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Arbitrage the big boys! You no longer have to be CITADEL TO perform an arbitrage, you can be JOE SCHMOE And ARB THEIR STALE PRICES! Do not listen to them, use flashloans for your advantage. They are incredibly powerful tool that makes markets efficient
9/n
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EVERYONE WHO REDEEMED BDAMM ON HALLOWEEN AND HELD GETS MORE
ADDRESSES HERE:
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@aori_io
docs and contracts completed tonight, I’m excited to share what we at
@dammfinance
have been up to.
This is by far the most ambitious project we’ve embarked on but should be a lot of fun
Ty for your patience ❤️
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You are saying that because SOMEONE trade GOOD against YOU that means they are STEALING. NO! You just are bad trader! Stop LPING and be the good arbitrager instead!
4/n
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imagine institutional lending but u never have to worry about defaults or a blow up losing ur moneys
dat wud be interesting
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Are U GOOD SEARCHER?
Do YOU WANT to DO LOTS OF MEV?
ARE you fan of ARTEMIS or RUST?
THIS HOME For YOU!
JOIN AORI DEV SUPPORT <3
INTEGRATE (or else..)
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+4k matched trades settled on beta already
AORI is a new primitive in trading infrastructure, coming soon to a chain near you
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My father-in-law is a founder of a FAMOUS AMM. He is insanely gifted. We were in a call together years ago and I asked him what it would cost to build an Orderbook today. I will never forget his answer…
“We can’t, we don’t know how to do it.”
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All this is panic is just proving we need a better decentralized stable coin than Dai.
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It BLOWS MY MIND that so many FINANCIAL PROTOCOLS obsess over attracting RETAIL FLOW or LIQUIDITY… is it not OBVIOUS after 10 YEARS that the only people who LOVE this decrepit industry are AUTISTIC HFT nerds from tradfi or uni? Use brain for a moment please…
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3. Flashloans are EVIL!
While flashloans have sped up many hacks, those hacks were inevitable with with capital and by the same vein many hacks were avoided with flashloans! The reason THEY HATE them is because Flashloans DEMOCRATIZED the ability for YOU to
8/n
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@inherent_itgirl
degeneracy means little in the context of reactionary thought. The issue is when degeneracy is welcomed into law+culture; which is a completely an enlightenment phenomenon and brief periods of bad Roman monarchs.
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When you tell me, a SOPHISTICATED MARKET PARTICIPANT that you are going to promise to take the other side of my trade, you are BEGGING me to arb you. Instead be smart and do not do this!
7/n
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I genuinely CANNOT wair for the “hurr we need more crypto appzzzzz” narrative to die. MOUTH breathing take… just accept we will permanently be an industry of AUTISM and attract people who THINK they are right curve with very few being it. And that YOU are the product, your
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So we
@aori_io
realized the only way to actually onboard programmatic traders was to build a translation layer for them that parsed defi in a way they understood...
not as INTENTIOOOONS but instead as: LIMIT ORDERS.
5/n
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My friend MITIGATING Impermanent LOSS is like trying to PATCH a BULLET HOLE with A BANDAID
YOU do NOT need a bigger BANDAID you need to STAY AWAY from GUNS!
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aori solves a major problem for MM's and searchers wanting to extend their trading into each other's domains
for Searchers: you don't need to build blocks or even work with a blockbuilder, you can simply take CEX pricing yourself from Aori quoters and fill across multiple blocks
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You may have seen the term “BASED ROLLUP” on twitter and thought:
“What does a rollup have to do with edgy takes on twitter?”
well let me bait you with funny tweet because I believe dis is what all rollups will become, and those that don’t will fade into obscurity.
1/n
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Lee Kuan Yew will be remembered as the greatest leader of the 20th century.
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you must UNDERSTAND I love SEAPORT (
@z0age
@d1ll0nk
@emo_eth
i love u all)
not JUST CUZ its the best protocol ever written,
BUT because I am DESCENDANT of VIKING and SCOTTISH CONQUERORS of NATIONS. It is in my BLOOD to LOVE da SEA!
.
@aori_io
is a new-age order book DEX that is powered by the Seaport Protocol.
The Seaport contract is one of the most used contracts on Ethereum, utilized for NFT trading on OpenSea and Blur.
While OpenSea currently limits Seaport for NFT trading with ERC-20 tokens, Aori
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Absolute BANGER you MUST READ or else I will commit ACTS ONCHAIN never before SEEN by MORTAL EYES
Thank you
@Delphi_Digital
for featuring Aori in your latest research article. It is an exceptional read from start to finish.
You can read through the full article, "The Future of On-Chain Liquidity" linked below ⬇️
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This makes amms all the more ironic!
Onchain CLOBS never have taken off because when you charge makers gas for making and cancelling, you limit the amount of orders they can profitably place. Thus CLOBS that are ENTIRELY onchain have a liquidity ceiling based on GAS.
What this
@0x94305
@AustinAdams10
It's almost entirely driven by gas cost, particularly during periods of low volatility.
For example, two weeks ago the V2 ETH/USDC was doing more volume than the V3 0.3% pool, despite the latter having more TVL and liquidity being concentrated. Mainly because V2 wins much more
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oh yeah baby
This conversation with
@joshuagunn
helped me understand MEV terminology and also nerd sniped me goodly: Why AMMS got broke by MEV, and about CEX-DEX arbitrage, which is really hard for the little guy to do (and is where serious arb money happens)
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u must understand I will not sleep until aori is:
completely gasless for non programmatic users
you can swap any token, on any chain
and lastly: amms are GONE
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