Sid
@sidmvenkat
Followers
2K
Following
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Media
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7K
good afternoon /// writing about DeFi & incentive systems @ElectricCapital /// views my own
goblin town
Joined May 2018
1/@arbitrum is 24hrs away from passing a proposal that could make Arbitrum the first ETH L2 with staking for its native token - $ARB. Let’s dive into how this works and what this enables👇🏽
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1/Everybody wants a piece of the $CRV cake 🍰. With 183M (~$157M) in CRV tokens emitted this year the Curve ecosystem continues to flourish. This long tail emissions curve tied with ve + gauges has produced an integrated & dependent ecosystem. Let's dive into the key players
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1/@NEARProtocol has been meticulously shipping with Shards 5/6, Chain Abstraction, Data Availability (👀 more on this later) & @near_ai. Meanwhile, no one is talking about how NEAR's DeFi TVL has grown 212% YTD (normalized for $NEAR growth) . What's going on? Let's dive in 👇🏽
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I recently joined @ElectricCapital to dive into protocol ecosystems & work with world-changing founders that are pushing the frontiers of crypto. I joined Electric because it’s not a typical VC firm. Check out why we are building Electric like a software company, not a VC firm.
1/ People are surprised to learn @ElectricCapital's team is 68% software engineers and designers. Why does a VC firm need engineers?. Because Crypto will do to TradFi & venture capital firms what the Internet did to retail & media companies. 🧵👇.
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OMg WHAt a COIncIdEncE none Of THE tEch hq’S ARe in foreStS ~~ GeNius conSpirACy~~.
Hundreds of thousands of homes across California are without power. But chunks of Bay Area remain conspicuously absent from outage maps: The seats of power for nearly every major tech giant.
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1/ @MakerDAO just approved a proposal to allow two financial institutions to set up vaults & borrow DAI. This is one of the many ways Maker is opening the floodgates for Real World Assets. Let's dig into why this is huge for MakerDAO and the future of Defi 👇
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@jil_slander i was watching the Fat episode from Salt Fat Acid Heat, and convinced myself i was gonna start a cow farm to make buttloads cheese.
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Can't believe it's been 4 years. 2020 DeFi summer seems like yesterday and a decade ago at the same time.
CRV turns 4 years, and CRV inflation reduces to 6.35%, which is 375k CRV per day. Congratulations everyone!
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Everyone who has exposure to the S&P500 also has exposure to Bitcoin now
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I’ll be in Lisbon speaking at Nearcon on DeFi and Governance! Stop by if you’d like to chat.
Here's a shocking one (smh, terrible), @sidmvenkat from @ElectricCapital is a speaker at NEARCON23! . With a rich background in blockchain and fintech, Sid brings a wealth of knowledge to the stage. Don't miss out on his insights this November!
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Announcement: I’m super pumped to be joining @falconxnetwork full time today as a part of the Trading team 📈⚡️.
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How do i stop living my life as a constant backlog of things to catch up on?.
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🚀🔥 Super excited to announce @falconxnetwork's Series B! Welcome to the team TigerGlobal + @BCapitalGroup It's been an invaluable experience building out our Trading and Credit desks.
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In less than a year @falconxnetwork has seen over $7B in trading volume and 100+ institutions have turned to us for trade best execution. Today, we announce new funding to continue building the infrastructure for the future of digital assets trading
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Beyond pumped to support the Nuffle team!. @mraltantutar @swang__ @dndlllll @sarifirfir123 are a stacked set of founders that have been cooking intensely!. Excited to see Nuffle help grow the modular world with innovative scaling products and enhance the @eigenlayer eco with.
I am excited to announce that Nuffle Labs is now live!. And today, we announce our $13MM financing led by @ElectricCapital to build next-generation modular infrastructure for all layers ⚡. A little bit about our story 🧵
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Seriously who the fuck thought posting a black square was useful to ANYONE.
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Hey twitter-verse, I’ve decided to stay another semester at UIUC to pursue a double major and I’m looking for summer internships in the following roles - research analyst (VC/Market), Strategy/BusDev, Quantitative Analyst - in the Crypto/FinTech Space. Location Pref: NYC, CHI, SF.
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In light of avatar now being on Netflix changing my picture to gangster momo w a glock. #NewProfiIePic
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Amped to see @NEARProtocol's massive Governance and Incentive Engineering updates!. Enhanced coordination between token holders, validators, the Foundation and broader ecosystem via veNEAR is a major milestone in the continuous path of progressive decentralization.
Over the past few months, we've worked closely with various @NEARProtocol ecosystem contributors to design a comprehensive governance framework proposal for the NEAR Ecosystem, focused on transparency, accountability, efficiency, and — most importantly — long-term protocol
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Sometimes I can’t believe Kylie and Kendall are YOUNGER THAN ME. Is this what you’re 20’s are about? Finding out a bunch of famous people are younger than me???.
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2/ Centralized Stables: Last fall, Near had less than $20m of natively issued USDC and USDT. NEAR now has:.-$205m of natively issued USDC (3rd highest across non EVM chains).-$154m of natively issued USDT
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2/ How does Arbitrum staking work?. Arbitrum will work with @tallyxyz to create stARB - the first liquid staked governance token. Users can stake their $ARB tokens to receive $stARB and continue to follow their existing governance delegation.
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still cant fucking believe Citadel & Point72 had to backstop Melvin all bc of a subreddit. The internet has been around my entire life but crazy to see that even today there are so many new ways ordinary individuals can collectively usurp the world as we know it via the interwebz.
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It would be dope as fuck if spotify had audio "filters" like an equalizer on steroids. What if i wanted to add a "slowed and reverb" effect to the song im currently listening to? A choped and screwed effect? And open the sdk for anyone to create/share their filters.
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I didn’t get a band aid when I got my first vaccine what are the chances it just leaked out.
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Teaching your sister calculus through text while drunk is a wiiiillllddd ride. Would not condone.
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9/ And this is just the start of Near's burgeoning DeFi ecosystem. Keep an eye out for continuous $NEAR TVL growth and new DeFi primitives being launched. Follow @Mo_DeFi @pikespeak_AI @chronear @proximityfi to stay up to date!. As always NIA/NFA/DYOR.
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It’s crazy how little I missed high school compared to how MUCH I miss college
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2/ @ConvexFinance was the first protocol on the scene with the goal of aggregating veCRV & has its own liquid wrapper with nearly 50% of all Curve voting power. Convex has been so successful that DAO's now bypass Curve & directly acquire Convex tokens
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4/ @FraxFinance is a big ecosystem partner of Curve. The FraxBP (FRAX/USDC) pool is the second largest Curve pool with $.5B in TVL. Frax uses CRV incentives to attract LP'ers to Frax curve pools- this supports the $FRAX peg and generates revenue for veFXS holders.
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A month ago a payment to @coinbase failed so they disabled my account. I resolved the issue on Coinbase, received an email confirm of resolution, resent the payment from my bank which shows up cleared, but my account is still disabled and @CoinbaseSupport hasnt responded AT ALL??.
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💪🏽💪🏽💪🏽.
We’re excited to share that we’ve raised a $210M Series C round led by #AltimeterCapital, @BCapitalGroup, @SapphireVC, and #TigerGlobal at a $3.75B valuation - making us one of the most valuable institutional cryptocurrency companies in the world.
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Petition for Apple to CANCEL screen time while we're all in quarantine.
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Update -80% complete
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5/ @ConicFinance is a yield aggregator that allocates liquidity only across Curve. Most Curve pools are paired with major stables - Conic allows the investor to diversify exposure across multiple Curve pools.
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6/ What's the timeline for implementation?. While the snapshot proposal passed with 99% support, the proposal still needs to pass with an on-chain Tally vote. If Tally proposal passes with similar flying colors, the Tally implementation proposal post audit should go live in Oct.
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Young thug was really out there rapping about crypto and digital wallets five years ago! Truly a legend ahead of the times
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The ONE time 420 was an entire month we got cooked by corona now I gotta live till 2120 smh.
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My parents are trying to become vegetarian so we don't have any meat at home. I've been dreaming about steak for the last week. .
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I unfollowed a bunch of accounts last night and twitter says I’m violating their following policy??? Let me just clean my feed plssss
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Spotify is easily my favorite/most used app ever, but how the fuck can i stop it from opening every time i restart my computer?.
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0/ Ethereum forking into PoW ETH & ETH 2 produces second-order implications for how DeFi survives the Merge. Let's break down what the risks are and which protocols have taken action to mitigate these risks 👇.
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listening to hella weeknd and drake this sunday putting me in such a mo00ood.
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3/ What does stARB enable?. With stARB, users can stake to earn governance power while simultaneously being able to use ARB across DeFi or potentially for restaking. However, its important to note that depositing stARB elsewhere reallocates your governance power to the DAO to.
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Glass Animals been putting out bangers for 5 years and they just got nominated for best “new” artist lmao.
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14/ A few protocols I missed adding - @WenLlama @Spiral_DAO . Let me know if there's any other important protocols building on Curve that i've missed!.
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5/ Potential for fee sharing:. The Arbitrum DAO treasury holds $45m in ETH generated via surplus fees from Arbitrum One and Nova. The DAO can decide to turn on fee sharing from revenue generated by sequencers and MEV, and stARB will auto-compound these rewards.
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7/ @redactedcartel's Pirex offers a liquid wrapper for Convex and has the 3rd largest amount of Convex coting power. Pirex also offers vaults to support auto-compounding and tokenized future revenues.
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yeah just fucking shoot me already.
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LFG!!! Dev report is out! 🔥🔥🔥.
1/ Time for the 4th annual @ElectricCapital Developer Report!. This year we are also proud to launch -- showcasing the data behind the report. We analyzed 250m code commits and 300+ people contributed to this year's report. Let's dig in👇.
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I just published "The Millenial Robinhood: Take from the poor and give to the rich" on @Medium -
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Why did my dad try to friend me on YouTube. I didn’t even know that was possible
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1) Let's talk about the innovative products the folks at @friktion_labs are building. Part of the new wave of structured products building on DeFi derivatives, Friktion, built on Solana, constructs portfolios of structured products to generate yield.
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1/ Thinking of launching a DAO? @Arbitrum's recent governance drama led to some important insights that other teams should leverage for how to better launch and run their DAO.
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Not to bash on people just discovering this, but this has been around for YEARS. Used it all the time for my hs French hmwk lol.
Ok so probs been living under a rock but I just discovered Google VR translate. Life-saver when traveling abroad!. I love technology🤓
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Doing my duty and manipulating my drunk friends to sign up for half marathons 🫡.
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8/ @VotiumProtocol allows locked Convex and Curve token holders to earn yield by delegating their governance power via a liquid bounties market. Votium has executed over ~$285m in liquid bounties.
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6/ @StakeDAOHQ is a yield & governance aggregator offering a variety of yield strategies. StakeDAO's liquid wrapper has the 3rd largest amount of curve governance power AND has the most liquidity to support its peg.
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Forbes pls stick to tracking the billionaires thx.
Technically lava can kill coronavirus, but there's a good reason why no-one is using it in the fight against the ongoing pandemic: nothing else would survive the encounter with molten rock either.
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3/ A major way @yearnfinance generates yield is by LP'ing to Curve pools, so they are incentivized to aggregate veCRV and direct more CRV rewards to pools their vaults deposit to. Yearn's liquid wrapper currently has the second highest Curve gov power with 10.6%
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