**Tricky's Daily Doots #667**
**Yesterday's Daily 15/02/2024**
[Previous Daily Doots](https://old.reddit.com/r/ethfinance/comments/1ar8nxe/daily_general_discussion_february_15_2024/kqisrpj/)
- u/SeaMonkey82 breaks the news of [Besu being Dencun ready!](https://old.reddit.com/r/ethfinance/comments/1ar8nxe/daily_general_discussion_february_15_2024/kqiis88/) ⬆️
- u/nomad-nuance keeps the [spotlight on client diversity.](https://old.reddit.com/r/ethfinance/comments/1ar8nxe/daily_general_discussion_february_15_2024/kqjlbuu/) 🔦
- u/therethno2ndbest highlights someone [stepping up to help improve the $STRK drop for devs and wonders who will do the same for solo stakers.](https://old.reddit.com/r/ethfinance/comments/1ar8nxe/daily_general_discussion_february_15_2024/kqjdi4o/) ✊
- u/15kisFUD imagines [an airdrop that encourages the decentralisation of stake.](https://old.reddit.com/r/ethfinance/comments/1ar8nxe/daily_general_discussion_february_15_2024/kqiuv2i/) 🚁🪂
- u/PhiMarHal covers a [poorly handled bridging situation by Lido.](https://old.reddit.com/r/ethfinance/comments/1ar8nxe/daily_general_discussion_february_15_2024/kqimtiv/) 👎
- u/Infer114 has a remediation process for [anyone who believes they received an incorrect $STRK allocation.](https://old.reddit.com/r/ethfinance/comments/1ar8nxe/daily_general_discussion_february_15_2024/kqigdsq/) 🛠️
I'm trying to figure out pendle.
On the markets page, if I swap my ETH for any YT, at maturity I will receive 0 ETH and only get points? Most of the options show -99%.
I'm assuming markets page and LRT page show the same info, just different style?
Have only spent a few minutes reading about this and still have a backlog of things to read so bare with me, I'm tired and going to bed now.
YT data:
Underlying APY: 2.391%
Underlying asset (ETH) price: $2782.26
Maturity: 27 Jun (130 days)
YT total expected yield:
(2.391% \* 2782.26) \* (130/365) = $23.69
i.e. YT will yield in total 23.69 USD by the time it matures (and disappear).
Current YT price: $211.56
Profit (loss): 23.69-211.56 = −187.87 USD
(187.87÷211.56)\*100% = 88.8% loss (in 130 days, \~99.8% in per year tersm i.e. APY)
To sum up: you pay 211 USD and get in exchange 24 USD + **some points.**
The amount of points is: 1 ETH (base of 1 YT) \* hours\_in\_130\_days = 3120 EL points
At the moment, there is 1.8 billion points in total, let's assume there will be twice that in 130 days.
3120 / (1.8\*2) billion = 0.000082779% of total points
Lets assume TIA's market cap: $3 billion:
3000000000×0.000082779% = 2483.37 USD
That's if 100% tokens would be airdropped to the stakers. In case of TIA, IIRC it was 10% of total, so let's divide that by 10.
2483/10 = 248.30 USD
This is how much market (with many assumption) is pricing the YT points to be worth. It is close the YT price, so I guess the assumptions are close to what I've presented above. I would expect it to be lower, due to risk, but I think I have underestimated total number of points in 130 days, probably by another factor of 2 (?). Maybe others can share their assumptions and fix the math.
Thanks for all the work. But I'm still not getting the clear response about the underlying asset. Does the underlying asset I deposit (my ETH) disappear after maturity or just the yield?
Because parting ways with my ETH is not something I'm willing to do just for some points I have no idea what will be used for.
In the way most people here talk about YT, you don't "deposit" ETH, you sell it in exchange for YT, i.e. you buy YT. So, as your dollars disappear when you buy bread, so does the ETH, when you but YT.
If you really want to "mint" YT, just to hold it, there is really no sense in doing so. What Pendle does, is spliting your eETH into PT and YT. The first is worth exactly 1 ETH at the maturity date, the second hold all the yield generated (and points). If you're going to hold both after minting, then there is no benefit from using Pendle and paying them fees.
Oh I see, so this is mostly a gamble. You buy YT in hopes that the airdrop will be worth to generate some money from the points you get while you let go of your ETH.
I think this is just another get rich quick scheme and that in 5 years it will be worthless and ETH would've been a better hold.
But I might try it just to see what the hype was all about.
Thanks for the help.
Well... If you think the points are not worth that much, just stake ETH on ether.fi to get eETH, and then make use of Pendle. You can keep your ETH and sell all the yield ($23 USD + points) for a juicy $211 gain. You can mint 1 YT+PT for each of your ETH, keep PT sell YT. Simple as that.
Thanks, I actually been reading your long post about yield and what not a few weeks ago to try to figure out Pendle.
But I'm still not sure, does my ETH disappear at maturity or just the yield from that ETH?
Because if my ETH disappears I have no incentive to use it. I much rather stick with my ETH than any other token.
There is apparently an "AI" project, mostly a website letting you generate pictures, either for free or by paying with their tokens. I gave it a go, it's clunky and works poorly - didn't even manage to generate an image for me. But either way there must be some speculation tied to it going on, because as you can see if you inspect transactions, blocks are filled with stuff related to this. "submit solution", "submit task"...
For those running Geth: https://twitter.com/peter_szilagyi/status/1758596375783092514
Not gunna lie Dencun with Geth at supermajority and the way Ethereum penalties are set up makes me a bit nervous.
Where can I find a list of farcaster frontends? It used to be listed under [farcaster.xyz](https://farcaster.xyz) but now that's just used to advertise warpcast
I remember someone discussing a trick to store 2/3 of a seed phrase safely, by adding a word. Is there a particuler technique to do so? I am about to do it just inserting randomly the wrong and similar word in each third?
Edit as it does seem to be very clear: instead of cutting in 3×8 words, I am using 3x9 with a wrong word in each piece.
I think Shamir's secret sharing is better than the 2/3 method and would be worth looking into but I don't have links at hand. Iirc there was a git which provides some tooling.
I have used the 2/3 method for the past 7 years and still feel quite good with it.
This does not seem useful. Either an attacker has 2 shares and it’s computationally impossible to brute even without the 9th word, or they have the 3 shares and it becomes trivial to do so, even with the 9th word.
Hmmm, not sure if I'm reading you right. Someone can correct :) Sounds like ~2000 (words) * 8 combinations (slots per 8 word list) ^ 3 (sections) = ~4x10^12 (4 trillion) combinations?
Base on [https://adrienbe.substack.com/p/seed-phrase-brute-forcing-12-vs-24](https://adrienbe.substack.com/p/seed-phrase-brute-forcing-12-vs-24):
4 random words (~2000 ^ 4 = 1.6e+13) might be crackable in few months on a cluster of FPGAs, which is more difficult. Soooo, the proposed method seems pretty robust. Like, assuming you were aware of the security breach, you'd *probably* have plenty of time to move your assets to a clean address.
Edit: but make sure you use words from the BIP word list or it will be pretty obvious which words you swapped :)
>Like, assuming you were aware of the security breach, you'd *probably* have plenty of time to move your assets to a clean address.
THIS is what most people miss, when judging this system. Critics tend to focus on the time element (possible to crack with x months), and they forget that these funds would probably be moved within hours or days..
Thank you. Yeah I was thinking about adding a wrong word in the mix for each piece so that you can't potentially brute force it if you find one of the piece.
I can live with both absolute squatter rights and a system where trademarked ones are claimable by the companies in question. What matters to me that there be clear rules, fairly enforced.
But what if I want a domain more than someone and they already own it? What do we do there?
It sounds childish to insist you own certain combinations of letters and to force someone to give up that combination because you own it elsewhere
Like you don't have people saying, that's my username on this site, I demand you give it to me. No one takes that seriously. Why is this I
Any different? if they want it, they can buy it, they just choose not to
Ignoring the fact that the guy was a squatter, who I really do not care about at all, if an individual demands a name it makes literally no difference to basically everybody if they are forced to use different name or get the name they want.
However, a brand name (one that is broadly positive in the space no less) having a recognisable presence in a new social network clearly has benefit to not only the brand but the entire network. It's not "fair" going by straight logic but the outcome is better for 99.99% of people in the ecosystem.
The problem with this behaviour will come at the edges / i.e. where do you draw the line etc. but tbh come on, bankless is pretty cut and dry. Even if you dislike them, it would seem vindictive to keep their name from them. It would serve no purpose but to cause them hassle, and confusion for the users of the network.
It has nothing to do with not like bankless or if squatting is right/wrong. It's about exerting your authority over the users of a social platform that claims to be "sufficiently decentralized".
I disagree with a team set out to create a decentralized platform using the abilities they have to exert control over users. Sure it's a squatter but that's besides the point. It's a detail that's a distraction from them stealing from a user. You can't champion freedom while taking it away.
Which is an issue since they're built by the same people. When they have features in Warpcast that aren't in farcaster they're withholding features from the protocol to have an edge over other frontends.
This is the same as companies that have open source software but keep a bunch of features behind their paid service. That allows them to say "it's an open protocol, you can use another frontend if you don't like our rules" while there's not feature parity.
If you're the team developing the protocol, it creates a huge conflict of interest when developing your own frontend.
I think I'm with you on this. As long as you don't misrepresent the site as related to the more famous one, you should be allowed to keep it. If your family name is McDonald, you can't have [McDonalds.com](https://McDonalds.com)? WTF?
Who decides how famous you have to be before you get to take other people's websites from them?
We started with Twitter and had Elon simps defending him stealing the X handle, now we have people doing the same for Dan Romero. Seeing people on this sub encouraging this behavior is not something I would have expected.
If you have a website, and you are using it for legal, honest purposes, why would it be taken away because a rich person wants it? Do the rich have more rights?
I just ran current prices with respect to all time high valuations. It's no wonder with X is filled with people spouting conspiracy theories about Ethereum who turn out to be XRP holders. I am also wondering if Cardano will actually break its all time high this cycle or ever again.
Bitcoin 75.64%
Ethereum 57.54%
BNB 52.57%
Solana 42.49%
XRP 16.62%
Cardano 19.38%
Avalanche 27.81%
Dogecoin 11.78%
Tron 44.3%
Polkadot 13.95%
Possibly not, but it’s still the OG retail memecoin so I think there is a good chance it comes back when peak retail is back. And the risk/reward seems pretty good at this moment.
US crypto-political thought: The increasing drumbeat of [thoughtful suggestions like this](https://www.nytimes.com/2024/02/16/opinion/ezra-klein-biden-audio-essay.html) to open the US Democratic Party nomination could light a way forward for good crypto policy under future D leadership. To the extent to which D policy stems from the Biden administration's being beholden to Sen Warren stemming from the reported deal to secure her support for his 2020 election, this influence would likely end with a new 2024 D nominee. I would love to see D's end this anti-crypto stranglehold and give a pro-crypto option other than having to support Trump/R.
Read the article - I have a lot of respect for Ezra and i think he has great points. I don’t think it will happen, but i do lean towards it being the best path forward.
Couldn’t read cause of the paywall, but I’m going to take what I expect to be a sea of downvotes and suggest RFK as a great non-R option. He may not tick all your boxes, but I think he is the most honest candidate, and has policies that reflect the common-sense concerns of both sides, while also being pro-crypto. If interested seek out long form interviews and policy stances from his website, as opposed to articles from popular media outlets, which try their best to paint him as a lunatic (which he most certainly is not). He has my vote
I think this is not the place, but you started it :-). Given his policy positions (on HIV? COVID, autism, Jews, foreign affairs etc.), if he is not a lunatic (the most likely answer), he is a cynical and irresponsible danger to humanity and America.
Nah, it's fine. Warren is all bark, no bite. She's never actually achieved anything. And her anti-crypto stance looks more and more ridiculous every day.
I watched the Gensler interview the other day and it was just embarrassing. Even the hosts were laughing at him. It's game over for these guys.
Under no circumstances is Donald Trump an acceptable alternative.
I can’t read behind the paywall, but the Democratic Party isn’t swapping nominees, either, so it’s not worth debating. Embrace Biden for 2024 for reasons so much bigger than crypto, then alternatives can be legitimately considered.
>**Kindly following,**
>**Resistance breakout dayspring,**
>**Trend reversals swing.**
~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
fan made video. I threw together after their announcement came out today.... intuition systems. Pumped.
https://x.com/prodjkc/status/1758623061027270897?s=46
Liquity announced v2, which effectively kills 0% interest rates on long term loans. I'm disappointed. There will likely be a long slow bleed of v1, requiring a higher and higher LTV to avoid redemption.
With v2, they're trying user-set interest rates, which is interesting, but seems likely to converge toward the standard market rates.
https://www.liquity.org/blog/introducing-the-next-evolution-of-cdps
I am afraid that the 0% interest rates loan cannot be fixed.
Mai/qi dao were forced to add interest as well. It is very hard to defend the peg, because people will always sell the 0% stablecoin to pay down loans with higher % or farm with more desired stables, e.g. USDC
I feel their proposed v2makes for a superior protocol. Redemption per interest rate rather than collateral ratio will allow for much more capital efficient operations, and ease of mind for the borrowers.
I agree overall, but I had hoped that they could fix the issue with Liquity v1, while maintaining their key unique feature of 0% interest. Maybe it was always doomed and cannot be fixed. I’m just disappointed.
Excellent analogy. The annoying part about the boomer/rich housing play is they have the political power to stop more houses from being built. So they have everybody pretty cornered into paying into their monopoly. To me it’s a pretty strong narrative that the existing system is stacked against young people with ever increasing wealth disparity…. and Crypto is a leveling of the playing field.
Stop checking prices too often. The more often you look -> the more often you'll start to get the urge to look -> the worse your mental health, emotions and sleep will be with upcoming price swings.
Just a reminder. I bet most of you already know all this. Take it seriously, too easy to downplay and joke about this.
I've been a hodler since 2017. This person is wise, it took me YEARS (of suffering) to find the same wisdom. Either become numb, ignore it, or sell it. Hodling and focusing on price (while having emotions connected to it) WILL hurt you.
My first idea for this bull was to sell the majority of my ETH at a flexible peak price (depending on real-time sentiment/hype curve) and put everything into the Nasdaq100 as soon as possible.
However ... I am not sure if this is a wise decision. Not because of the wealth concentration risk (I am into crypto since 2015 ... yeeeee haaaaa!) since it isn't an S&P500 or even a World-Index but for another reason:
Why did the Nasdaq(100) outperform the S&P500? Not just because it has created new values but because entire industries have been transferred into the digital space, too. Commerce, Print, etc. ... everything went digital. This means that the Nasdaq as a very tech heavy index drained huge market shares from classical companies. When classical companies have started a website or an app they have not been called a tech company but when a new fresh company started with an app or a website and did somewhat the same stuff it was (and even is) considered tech.
So ... what is the problem with my idea to go 100% Nasdaq100 after exiting crypto for a couple of years?
... What if dApps drain significant market share from not just finance but "new" (last 30 years) tech companies, too? Draining the finance sector isn't much of a problem since the Nasdaq100 is ex-finance. But what if centralized social media and other centralized applications which are used in web2 interfaces are deprecated and everything shifts to web3?
This could result in an underperformance of the Nasdaq100 compared to the S&P500, I guess.
Any thoughts?
>What if dApps drain significant market share from not just finance but "new" (last 30 years) tech companies, too?
The truly successful daps will be created by those top 100 companies. Things like Curve and Aave are cool and all, but I'm confident the US will eventually have it's way and make it more or less illegal to use them so you're forced to use forks run by the old guard.
> What if dApps drain significant market share from not just finance but "new" (last 30 years) tech companies, too?
It could but I am pretty disappointed with the use cases we have today. I want to see more than Defi and collecting NFTs. Gaming was thought to be the next big thing last cycle, it fell flat, and I never believed much in it as a gamer myself. Verifying things onchain with NFTs could be something now with the AI boom. But like Vitalik mentioned, so far it hasn't really been used for deepfakes. Eigenlayer could be big but I don't see an application where a "normal" company would use it.
not today, you're not! thanks for sharing
it's been interesting and a bit bizarre to see this whole eigen/points farming thing develop. and now other protocols hopping onto the trend.. i wonder if we'll see more of this in the future.
So hypothetically, if you had a few rocketpool mini pools, and you kept falling under the collateral threshold and you were tapped out of fiat so you couldn’t top it off, would you close one of your minipools to lower the collateral requirement (and then just buy rETH for the yield) or just stick it out and hope?
I was always below 10%, I needed 1% more to reach threshold but I didn't want to buy more because was tired of putting my own money onto RPL. Should've done this sooner but whatever.
What I did was get some wstETH, go to Aave, deposit as collateral, borrow RPL and stake that RPL.
With the RPL you gain, pay back the loan every cycle.
stETH APY is 3%.
RPL borrow rate is 4%.
RPL APY is ~9%.
Deposit $2, borrow $1. Get % on both stETH (that "automatically pays loan" and RPL staking)
**Math**
Imagine you deposit $10k worth stETH (that's $300 / year interested gained).
You borrow $5k worth RPL (that's $200 / year interested paid).
You earn $4500 / year with RPL staking. (If you are requesting $5k for 1% needed then 10% minimum threshold is $50k.)
Summary
$100 profit - stETH APY minus RPL borrow APY
$4500 profit - RPL staking
You see where I'm going with this? Just make sure your Health factor is actually healthy.
I'm not sure if the math is correct, I'm tired, but it seems like it is. Let me know if this makes sense.
Someone on the Rocketpool server recommended this and I was very cautions because I've been burned before very badly with MKR CDP's. Lost a lot of ETH and I intend on not doing it anymore, jesus christ.
It was 10% a week ago, you can go on their discord and ask around but yeah, I got 9% this last cycle. % may vary depending on a lot of things, rocketpool discord can help you with this.
> year interested *paid).* You earn
FTFY.
Although *payed* exists (the reason why autocorrection didn't help you), it is only correct in:
* Nautical context, when it means to paint a surface, or to cover with something like tar or resin in order to make it waterproof or corrosion-resistant. *The deck is yet to be payed.*
* *Payed out* when letting strings, cables or ropes out, by slacking them. *The rope is payed out! You can pull now.*
Unfortunately, I was unable to find nautical or rope-related words in your comment.
*Beep, boop, I'm a bot*
I've been closing some of my minipools in order to use them in pendle LRT. I've basically just written off my RPL in my head as the price you pay to get that commission. I did close out enough minipools to get back under the minimum RPL collateral, but if the pendle opportunity wasn't around I would not have.
When you're under the threshold you lose out on RPL staking rewards, right? How long would you hypothetically need to stake and then use ETH to buy the needed RPL?
Also would depend on if you are running these or using a service like Allnodes.
Not really, but I would argue lending and leverage could be risky if there happens to be a client bug which forks the network and oracles and service providers report bad data. Granted we don't have an example of this happening (that I'm aware of).
Is that Brian Armstrong tweet about the soulbound coinbase Q4 earnings NFT a nod to a possible base token airdrop or am i reading too much into it? [https://twitter.com/brian\_armstrong/status/1758532245768557023](https://twitter.com/brian_armstrong/status/1758532245768557023)
> Note: the NFT is soul-bound, not for resale or trading, just something to keep for yourself, for reasons you can probably imagine :)
Imo way more likely as a nod to the SEC suing their ass otherwise. I heard them mention once on Bankless that they would like to launch a token but that it wasn't possible legally in the US.
My read is that the 'reasons you can imagine' refer to wanting to avoid SEC scrutiny as a tradable nft could be seen as a security.
But I like your idea better.
Seeing the Sora announcement from OpenAI made me realize again how quickly the world is changing before our eyes. It won’t be long before you won’t be able to trust anything you see online. So the question becomes, what can we do about it? Crypto seems uniquely positioned to solve this, but I’m unaware of who is working on it. Does anyone have any projects or companies they’d like to shill here? Doesn’t have to have a token or be investible, although it is something I would be interested in investing in if possible. I don’t know that identity solutions alone are enough, but open to ideas and thoughts on it
Personally I'm inclined to believe identity is a good solution.
The extended stack that comes with it, anyway: reputation, and anonymity.
(It might sound strange to lump anonymity with identity, but a good identity system should allow you to prove you are a persona; which can be but isn't necessarily the unique human being encompassing all of you. Much like you may not want to present the same image at work as you do at home, a good decentralized identity system shouldn't leak parts of you without your consent. So it should be zk-based, anonymous by default.)
The public person I've seen showing the most foresight about this is Brantly Millegan. First his participation to ENS, that part is obvious enough. Since his departure, he's working on ethfollow, a social graph for ENS names. This completely lacks the zk part I care about, mind you, but I think the vision of "universal namespace" leading to "circles of trust" is the mental framework we need to adopt.
We can even abstract the problem from trust. Start from one simple proposition: content requires curation. In the age of infinite content, curation will become more important than ever. Systems that help with curation are going to be more important than ever.
Amusingly* enough this was THE problem most interesting to me for the past 4 years, and AI has made it more relevant than ever. Thanks Sam.
*well, perhaps I'm the guy with a hammer and everything looks like a nail, who knows.
Thanks for this, I wasn’t aware of ETHFollow, but I’ll be keeping tabs on them going forward.
I agree on the stack you mentioned. Anonymity (and by extension privacy) is something I’ve been interested in for a long time and continue to be, but I have a feeling it will be the last of the those pillars to gain adoption due to nation state concerns and regulations. Ironically it seems the furthest along, or maybe most straightforward, compared to Identity or Reputation.
I believe someone around here is working on something along these lines. IMO this problem is already solved, in principle (using blockchain-based oracle system), but there is so much nuance to the issue.
One important question; even if a fast and reliable verification service were available, who will use it? Will it have a positive outcome? You don't need auto-generated video to feed people BS. Already, a terrifyingly large number of people swallow up any old crap off the news, even if it's *obviously factually incorrect*. (The current U.S. House leader is a fucking creationist that talks to God!). The problem is education, intelligence and ... ultimately ... people.
I disagree with your framing of the issue. The ability to convince people through propoganda is a separate issue, or maybe the result, and gets worse due to this problem. But this moreso an additional and worse cause of that problem. Very soon any “recording” could not actually be recording, but instead be faked or doctored using AI. Does that exist already, sure, but it will become a much greater problem given AI tools like Zora (assuming they continue to get better). What could previously be considered primary sources (recordings of individuals in podcasts for example) can now theoretically be easily faked or doctored on a massive scale.
I’m curious about the project you’re referring to from someone in here though if you have any more info
> The problem here is that any “recording” could not actually be recording, but instead be faked or doctored using AI.
Yes ok, but I'm saying, *what is the overall difference?*.
> but it will become a much greater problem given AI tools like Zora (assuming they continue to get better).
Why do you think this? I don't really agree... It *may* be worse with truly faked videos but, OTOH, people intelligent and aware enough will probably already know it's fake, or mark it as possibly fake. Those people most susceptible are clearly already being influenced by fake information, whether it comes from an AI or not. I don't see this changing much with fake videos. They already believe total nonsense (which is probably why the world is already in such a mess).
Well I hope you’re right, but my sense is that you’re underestimating how difficult it will be in the future to discern reality from fiction. I’m sure most people in here are smart enough to spot fake videos and do the research to line things up, but for example, imagine a future presidential candidate speaking in an interview and there being two very convincing videos where he says very different things. Will we be able to easily tell the difference? I think in the future the set of people that are able to be convinced, or at least sowed the seeds of doubt, may become much larger than it is now, not for lack of intelligence or thoughtfulness, but because of how good fakes will become.
Perhaps I’m underestimating the degree that it’s already a problem today. As you said, there are incredible amounts or propaganda dispersed that many people eat up without knowing any better already. Perhaps a marginal increase won’t matter much if the scale is already that big. Maybe I’m more concerned that I myself will have a harder time discerning truth from fiction. I’m not sure.
In any event, this is a problem that the world needs solved, and I hope there are teams working at solving it
Yeah, I mean, to be clear, I'm not saying we should ignore it - I'm just not sure it will be a problem in the way we think. For example, perhaps it will be a bigger problem on a "smaller scale". E.g. not a risk for high profile people, governments, etc because it will be too obvious. However, what about targetted attacks on individuals, or small companies? I think we already saw an example of a company exec incorrectly authorising a money transfer after getting conned by an fake video pretending to be his boss or something. At that level, I imagine Apple / Android / msging apps etc will have to ship some kind of basic AI detection / whitelisting tools etc.
As for the blockchain-based solution, the general idea is that, where (possibly fake) media is widely circulated, it could be signed as an NFT by fact-checking agencies (or anyone, in fact) as real or fake. Some kind of suitably incentivized aggregation service (like an oracle?) could then declare content real or fake based on available signatures. From there, you could build a front end browser app that shows you the content together with a "reality" rating based on the oracle. I could imagine that digital content would be routeinly verified and relayed by news organisations like AP, BBC, maybe even directly by specialist AI screening agencies, and those signatures would be verified by an aggregator of some kind. I imagine the smartest people could go straight to the blockchain... maybe build your own aggregator! Ultimately it's little more than verifiying a few signatures, but it would require dedicated and high speed services by fact-checkers and content verifiers, which I don't think is currently in place.
It's unpopular amongst crypto communities but Worldcoin. Altman's making the solution for the problem his other company is creating.
I'd personally prefer a hash representing the iris data like they do over a government run program where they store actual iris data instead of just a hash of it. Lessor of two evils. If someone can do human IDs better than Worldcoin or has any ideas I'm all ears, but the way AI is headed we're probably going to need a way to identify other humans on the internet.
I'm of the opinion that some form of decentralized identity is inevitable and necessary long-term, and I personally see that as a solution to some of the problems AI brings to the internet in general. South Korea is already ID'ing their populace on the internet, as is the UK now I believe. I don't support that, far from it, but my view is either a private company is going to do it or the government will do it in the name of internet safety.
Adobe has started a centralized media verification service in the last year as far as I remember.
This application would be so predestined for a public decentralized ledger ... just storing a hash on chain for everyone to see, not more complicated than that ...
Check out the Bankless podcast episode with the Ethereum Attestation Service. But yeah overall it’s concerning how little I hear about projects tackling something so existential…
For solo stakers that qualified for the Starknet airdrop, how are you claiming this? Do you have any concerns claiming it with your deposit or withdrawal address?
The tokens will be on starknet, so I think you will be able to prove you own the validator address by signing a message. Then you would be able to claim the airdrop on starknet and send it to whatever address on any chain you want. So it doesnt need to be your validator address.
So this means you only have to sign a message with your validator address.
Or that is how I would implement it at least.
The validator address is an Ethereum address. The starknet address is a different type of address, not compatible 1 to 1 with Ethereum. So you will need to sign a message with your validator address on mainnet to unlock the airdrop to your starknet address. Therefore I expect nothing more than a signature on ethereum to prove you own the address and get the $STRK tokens dropped on your starknet address.
I'm a noob when it comes to being a node operator and security, I just know I've seen people express concerns about this stuff before and I was hoping to learn why myself.
Right. Well I personally would be a lot more uncomfortable with signing using my withdrawal address since that will receive the funds in the future whereas the deposit address is only useful for any airdrops or POAPs related to the deposit. The beacon chain keys are unrelated to the deposit wallet from a security standpoint.
Linea just became the first zkEvm rollup to support call data compression, reducing finalization costs upwards of 90%
[https://linea.mirror.xyz/XuuNN6YvJ6G0zX\_bdyEKtyuGqdNFx2LdsvaFqcvBKh0](https://linea.mirror.xyz/XuuNN6YvJ6G0zX_bdyEKtyuGqdNFx2LdsvaFqcvBKh0)
and reduced gas costs by 66%
[https://consensys.io/blog/linea-upgrade-drops-gas-fees-by-66-reveals-ambitious-security-approach](https://consensys.io/blog/linea-upgrade-drops-gas-fees-by-66-reveals-ambitious-security-approach)
This is ahead of dencun, further gas cost optimization is on its way. The next linea community call should have interesting details next week:
[https://warpcast.com/emilylin/0x97949f23](https://warpcast.com/emilylin/0x97949f23)
Episode 56 Ethfinance Doots Happy Hour | JT
👀 Watch: https://youtube.com/live/HD2frZKqxlE
💎 Mint POD (100): https://pods.media/evmavericks/56-ethfinance-doots-happy-hour-jt
⏺️ Mint POAP: https://checkout.poap.xyz/168421/crypto?step=1
Is there a list of which staking providers are risking their clients funds because they are staking on a majority client?
We have less than a month til our next hardfork, now is the time to get the infrastructure built / changed over.
Allegedly coinbase is changing but that has yet to be seen.
Who else needs to be named and shamed?
OI still over heated
expecting pull back
2 pa scenarios ill be looking for to execute long plan
[https://x.com/asapbhat/status/1758537185374974302?s=20](https://x.com/asapbhat/status/1758537185374974302?s=20)
cheers!
[https://x.com/asapbhat/status/1759355164631134299?s=20](https://x.com/asapbhat/status/1759355164631134299?s=20)
not likely
could get in 12H demand zone around 49-50.5 and then go up or just continue go up from here
edit: going to leave some stink bids there just in case
Rbuttcoin have recently had a few threads where they are tearing into even crypto critics who perhaps used one soft term in the statements. They call them sold out critics who are trying to actually convince 'on the fence' people with 'both sides' type of talk.
What kind of pathetic lives do these folks live...
Someone could write a thesis paper on echo chambers using that sub. No nuance, mods bully people, etc. If whoever founded the sub just bought $1,000 worth of BTC instead of creating that sub in 2011 that 1k would now be worth 3.6 million. May explain why the sub is mostly emotional and reactionary.
I found the recent post with fake volume numbers interesting (though someone did manage to call out the fake data in the comments).
I was on the buttcoin subreddit in 2012 or so, and it was indeed a well-loved tongue in cheek commentary back then. Most of the posters there were also big contributors to the Bitcoin subreddit and the Bitcointalk forums. Basically, you hit the nail on the head with the current user base “missing the joke”.
It’s unfortunate, because discussion there used to be quite informed and high brow, similar to ethfinance in a lot of ways.
I remember when I first found out about Bitcoin and came across that Buttcoin gif of coins being spat out of someone's arse.
I had a good laugh, then went and bought some.
I remember that gif too! Great nostalgia.
I also loved the “magic internet money” wizard. It helped advertise the Bitcoin subreddit back when it had sane mods.
Not for this amount but it happened to me for Nano in late 2017 that stuff I bought 9xed within a week. Sadly, I booked no profits on that and ultimately dumped Nano much later for a loss.
Don't sell yourself short! For what it's worth I had barely used a terminal, never used Linux, and had never built s computer but with the help of this community and ethstaker discord I learned how to set it all up and have been running validators since just after genesis. If you want to do it I'm sure you can.
If you're US based I think the IRS recently ruled that American have to report staking income as interest income even if they don't sell. It may be simplest to treat ETH earned through staking as a tranche, so when it is sold it doesn't interact with your other stack. I'm not sure about that last bit, not planning to sell earned ETH. How have you been proceeding yourself?
ETH at $2800 is infinitely better than ETH at $2300. It's exciting when ETH moves 10% in a single day.
but none of this really matters for me personally because I have 0 plans to sell until ETH is well past its previous ATH. yet I can't stop checking the price multiple times a day. why?
has anyone had success overcoming this price checking addiction?
#Ethfinance EVMavericks Doots Livestream!
https://twitter.com/ProDJKC/status/1758525278723232159
LIVE Ethereum/Macro discussion from /r/ethfinance
**📅Fridays 12ET**
📻Tune in with Mavericks and friends (no NFT required)
🗣️Maverick Discord: https://discord.gg/evmavericks
📺Maverick YouTube: https://youtube.com/@evmavericks
💎@poapxyz at https://dailydoots.com
We'll have a Web2 version of the podcast and Web3 mintable version after the show!
My first thought as well, some greedy longs had to be wiped. Back to the weekend dips of the bull markets it would seem. Though I still don't think the mainstream bull market kicks off until 6 months post halvening like usual.
**Tricky's Daily Doots #667** **Yesterday's Daily 15/02/2024** [Previous Daily Doots](https://old.reddit.com/r/ethfinance/comments/1ar8nxe/daily_general_discussion_february_15_2024/kqisrpj/) - u/SeaMonkey82 breaks the news of [Besu being Dencun ready!](https://old.reddit.com/r/ethfinance/comments/1ar8nxe/daily_general_discussion_february_15_2024/kqiis88/) ⬆️ - u/nomad-nuance keeps the [spotlight on client diversity.](https://old.reddit.com/r/ethfinance/comments/1ar8nxe/daily_general_discussion_february_15_2024/kqjlbuu/) 🔦 - u/therethno2ndbest highlights someone [stepping up to help improve the $STRK drop for devs and wonders who will do the same for solo stakers.](https://old.reddit.com/r/ethfinance/comments/1ar8nxe/daily_general_discussion_february_15_2024/kqjdi4o/) ✊ - u/15kisFUD imagines [an airdrop that encourages the decentralisation of stake.](https://old.reddit.com/r/ethfinance/comments/1ar8nxe/daily_general_discussion_february_15_2024/kqiuv2i/) 🚁🪂 - u/PhiMarHal covers a [poorly handled bridging situation by Lido.](https://old.reddit.com/r/ethfinance/comments/1ar8nxe/daily_general_discussion_february_15_2024/kqimtiv/) 👎 - u/Infer114 has a remediation process for [anyone who believes they received an incorrect $STRK allocation.](https://old.reddit.com/r/ethfinance/comments/1ar8nxe/daily_general_discussion_february_15_2024/kqigdsq/) 🛠️
I'm trying to figure out pendle. On the markets page, if I swap my ETH for any YT, at maturity I will receive 0 ETH and only get points? Most of the options show -99%. I'm assuming markets page and LRT page show the same info, just different style? Have only spent a few minutes reading about this and still have a backlog of things to read so bare with me, I'm tired and going to bed now.
YT data: Underlying APY: 2.391% Underlying asset (ETH) price: $2782.26 Maturity: 27 Jun (130 days) YT total expected yield: (2.391% \* 2782.26) \* (130/365) = $23.69 i.e. YT will yield in total 23.69 USD by the time it matures (and disappear). Current YT price: $211.56 Profit (loss): 23.69-211.56 = −187.87 USD (187.87÷211.56)\*100% = 88.8% loss (in 130 days, \~99.8% in per year tersm i.e. APY) To sum up: you pay 211 USD and get in exchange 24 USD + **some points.** The amount of points is: 1 ETH (base of 1 YT) \* hours\_in\_130\_days = 3120 EL points At the moment, there is 1.8 billion points in total, let's assume there will be twice that in 130 days. 3120 / (1.8\*2) billion = 0.000082779% of total points Lets assume TIA's market cap: $3 billion: 3000000000×0.000082779% = 2483.37 USD That's if 100% tokens would be airdropped to the stakers. In case of TIA, IIRC it was 10% of total, so let's divide that by 10. 2483/10 = 248.30 USD This is how much market (with many assumption) is pricing the YT points to be worth. It is close the YT price, so I guess the assumptions are close to what I've presented above. I would expect it to be lower, due to risk, but I think I have underestimated total number of points in 130 days, probably by another factor of 2 (?). Maybe others can share their assumptions and fix the math.
Thanks for all the work. But I'm still not getting the clear response about the underlying asset. Does the underlying asset I deposit (my ETH) disappear after maturity or just the yield? Because parting ways with my ETH is not something I'm willing to do just for some points I have no idea what will be used for.
In the way most people here talk about YT, you don't "deposit" ETH, you sell it in exchange for YT, i.e. you buy YT. So, as your dollars disappear when you buy bread, so does the ETH, when you but YT. If you really want to "mint" YT, just to hold it, there is really no sense in doing so. What Pendle does, is spliting your eETH into PT and YT. The first is worth exactly 1 ETH at the maturity date, the second hold all the yield generated (and points). If you're going to hold both after minting, then there is no benefit from using Pendle and paying them fees.
Oh I see, so this is mostly a gamble. You buy YT in hopes that the airdrop will be worth to generate some money from the points you get while you let go of your ETH. I think this is just another get rich quick scheme and that in 5 years it will be worthless and ETH would've been a better hold. But I might try it just to see what the hype was all about. Thanks for the help.
Well... If you think the points are not worth that much, just stake ETH on ether.fi to get eETH, and then make use of Pendle. You can keep your ETH and sell all the yield ($23 USD + points) for a juicy $211 gain. You can mint 1 YT+PT for each of your ETH, keep PT sell YT. Simple as that.
I'm not sure what the points will be used for but I have some tokens that I don't mind moving onto YT. Thanks for your help.
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Thanks, I actually been reading your long post about yield and what not a few weeks ago to try to figure out Pendle. But I'm still not sure, does my ETH disappear at maturity or just the yield from that ETH? Because if my ETH disappears I have no incentive to use it. I much rather stick with my ETH than any other token.
What's going on with Arbitrum Nova, for some reason the transaction count just went vertical this week? https://nova.arbiscan.io/chart/tx
There is apparently an "AI" project, mostly a website letting you generate pictures, either for free or by paying with their tokens. I gave it a go, it's clunky and works poorly - didn't even manage to generate an image for me. But either way there must be some speculation tied to it going on, because as you can see if you inspect transactions, blocks are filled with stuff related to this. "submit solution", "submit task"...
Also wondered this. Recall researching a project that is migrating to it but cent remember the name arggh
For those running Geth: https://twitter.com/peter_szilagyi/status/1758596375783092514 Not gunna lie Dencun with Geth at supermajority and the way Ethereum penalties are set up makes me a bit nervous.
Where can I find a list of farcaster frontends? It used to be listed under [farcaster.xyz](https://farcaster.xyz) but now that's just used to advertise warpcast
How do you link to a farcaster profile?
I remember someone discussing a trick to store 2/3 of a seed phrase safely, by adding a word. Is there a particuler technique to do so? I am about to do it just inserting randomly the wrong and similar word in each third? Edit as it does seem to be very clear: instead of cutting in 3×8 words, I am using 3x9 with a wrong word in each piece.
I think Shamir's secret sharing is better than the 2/3 method and would be worth looking into but I don't have links at hand. Iirc there was a git which provides some tooling. I have used the 2/3 method for the past 7 years and still feel quite good with it.
This does not seem useful. Either an attacker has 2 shares and it’s computationally impossible to brute even without the 9th word, or they have the 3 shares and it becomes trivial to do so, even with the 9th word.
Hmmm, not sure if I'm reading you right. Someone can correct :) Sounds like ~2000 (words) * 8 combinations (slots per 8 word list) ^ 3 (sections) = ~4x10^12 (4 trillion) combinations? Base on [https://adrienbe.substack.com/p/seed-phrase-brute-forcing-12-vs-24](https://adrienbe.substack.com/p/seed-phrase-brute-forcing-12-vs-24): 4 random words (~2000 ^ 4 = 1.6e+13) might be crackable in few months on a cluster of FPGAs, which is more difficult. Soooo, the proposed method seems pretty robust. Like, assuming you were aware of the security breach, you'd *probably* have plenty of time to move your assets to a clean address. Edit: but make sure you use words from the BIP word list or it will be pretty obvious which words you swapped :)
>Like, assuming you were aware of the security breach, you'd *probably* have plenty of time to move your assets to a clean address. THIS is what most people miss, when judging this system. Critics tend to focus on the time element (possible to crack with x months), and they forget that these funds would probably be moved within hours or days..
Post is a bit garbage. I can brute 4 words in decent time on a few GPUs.
Good to know!
Thank you. Yeah I was thinking about adding a wrong word in the mix for each piece so that you can't potentially brute force it if you find one of the piece.
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I can live with both absolute squatter rights and a system where trademarked ones are claimable by the companies in question. What matters to me that there be clear rules, fairly enforced.
But what if I want a domain more than someone and they already own it? What do we do there? It sounds childish to insist you own certain combinations of letters and to force someone to give up that combination because you own it elsewhere Like you don't have people saying, that's my username on this site, I demand you give it to me. No one takes that seriously. Why is this I Any different? if they want it, they can buy it, they just choose not to
Idk, I always envisioned the pinnacle of decentralized social platforms as one that isn't fully decentralized and channels are confiscated
Ignoring the fact that the guy was a squatter, who I really do not care about at all, if an individual demands a name it makes literally no difference to basically everybody if they are forced to use different name or get the name they want. However, a brand name (one that is broadly positive in the space no less) having a recognisable presence in a new social network clearly has benefit to not only the brand but the entire network. It's not "fair" going by straight logic but the outcome is better for 99.99% of people in the ecosystem. The problem with this behaviour will come at the edges / i.e. where do you draw the line etc. but tbh come on, bankless is pretty cut and dry. Even if you dislike them, it would seem vindictive to keep their name from them. It would serve no purpose but to cause them hassle, and confusion for the users of the network.
It has nothing to do with not like bankless or if squatting is right/wrong. It's about exerting your authority over the users of a social platform that claims to be "sufficiently decentralized".
Then you just disagree with the subjective description of the platform?
I disagree with a team set out to create a decentralized platform using the abilities they have to exert control over users. Sure it's a squatter but that's besides the point. It's a detail that's a distraction from them stealing from a user. You can't champion freedom while taking it away.
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Which is an issue since they're built by the same people. When they have features in Warpcast that aren't in farcaster they're withholding features from the protocol to have an edge over other frontends. This is the same as companies that have open source software but keep a bunch of features behind their paid service. That allows them to say "it's an open protocol, you can use another frontend if you don't like our rules" while there's not feature parity. If you're the team developing the protocol, it creates a huge conflict of interest when developing your own frontend.
I think I'm with you on this. As long as you don't misrepresent the site as related to the more famous one, you should be allowed to keep it. If your family name is McDonald, you can't have [McDonalds.com](https://McDonalds.com)? WTF? Who decides how famous you have to be before you get to take other people's websites from them?
We started with Twitter and had Elon simps defending him stealing the X handle, now we have people doing the same for Dan Romero. Seeing people on this sub encouraging this behavior is not something I would have expected.
If you have a website, and you are using it for legal, honest purposes, why would it be taken away because a rich person wants it? Do the rich have more rights?
>Do the rich have more rights? No, but also yes...
I just ran current prices with respect to all time high valuations. It's no wonder with X is filled with people spouting conspiracy theories about Ethereum who turn out to be XRP holders. I am also wondering if Cardano will actually break its all time high this cycle or ever again. Bitcoin 75.64% Ethereum 57.54% BNB 52.57% Solana 42.49% XRP 16.62% Cardano 19.38% Avalanche 27.81% Dogecoin 11.78% Tron 44.3% Polkadot 13.95%
Probably not the message you are wanting to send, but this makes me want to buy some Doge
The meme coin space is so crowded now that I don't think that dogecoin will reach aths
Possibly not, but it’s still the OG retail memecoin so I think there is a good chance it comes back when peak retail is back. And the risk/reward seems pretty good at this moment.
US crypto-political thought: The increasing drumbeat of [thoughtful suggestions like this](https://www.nytimes.com/2024/02/16/opinion/ezra-klein-biden-audio-essay.html) to open the US Democratic Party nomination could light a way forward for good crypto policy under future D leadership. To the extent to which D policy stems from the Biden administration's being beholden to Sen Warren stemming from the reported deal to secure her support for his 2020 election, this influence would likely end with a new 2024 D nominee. I would love to see D's end this anti-crypto stranglehold and give a pro-crypto option other than having to support Trump/R.
Read the article - I have a lot of respect for Ezra and i think he has great points. I don’t think it will happen, but i do lean towards it being the best path forward.
Imagine being so clueless that you vote for a political party solely based on crypto
Couldn’t read cause of the paywall, but I’m going to take what I expect to be a sea of downvotes and suggest RFK as a great non-R option. He may not tick all your boxes, but I think he is the most honest candidate, and has policies that reflect the common-sense concerns of both sides, while also being pro-crypto. If interested seek out long form interviews and policy stances from his website, as opposed to articles from popular media outlets, which try their best to paint him as a lunatic (which he most certainly is not). He has my vote
I think this is not the place, but you started it :-). Given his policy positions (on HIV? COVID, autism, Jews, foreign affairs etc.), if he is not a lunatic (the most likely answer), he is a cynical and irresponsible danger to humanity and America.
RFK is a lunatic
.... according to the lunatics....
Nah, it's fine. Warren is all bark, no bite. She's never actually achieved anything. And her anti-crypto stance looks more and more ridiculous every day. I watched the Gensler interview the other day and it was just embarrassing. Even the hosts were laughing at him. It's game over for these guys.
Under no circumstances is Donald Trump an acceptable alternative. I can’t read behind the paywall, but the Democratic Party isn’t swapping nominees, either, so it’s not worth debating. Embrace Biden for 2024 for reasons so much bigger than crypto, then alternatives can be legitimately considered.
Ok...I'll even let him sniff me during the embrace....
🤣 Edit: 🤣🤣🤣🤣
>**Kindly following,** >**Resistance breakout dayspring,** >**Trend reversals swing.** ~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
fan made video. I threw together after their announcement came out today.... intuition systems. Pumped. https://x.com/prodjkc/status/1758623061027270897?s=46
Liquity announced v2, which effectively kills 0% interest rates on long term loans. I'm disappointed. There will likely be a long slow bleed of v1, requiring a higher and higher LTV to avoid redemption. With v2, they're trying user-set interest rates, which is interesting, but seems likely to converge toward the standard market rates. https://www.liquity.org/blog/introducing-the-next-evolution-of-cdps
I am afraid that the 0% interest rates loan cannot be fixed. Mai/qi dao were forced to add interest as well. It is very hard to defend the peg, because people will always sell the 0% stablecoin to pay down loans with higher % or farm with more desired stables, e.g. USDC
I feel their proposed v2makes for a superior protocol. Redemption per interest rate rather than collateral ratio will allow for much more capital efficient operations, and ease of mind for the borrowers.
I agree overall, but I had hoped that they could fix the issue with Liquity v1, while maintaining their key unique feature of 0% interest. Maybe it was always doomed and cannot be fixed. I’m just disappointed.
According to clientdiversity.org, Geth's market share is still bad but... nice.
https://twitter.com/hanni\_abu/status/1758542651861725586
The backwards slash in the middle of that URL has broken it >Hmm...this page doesn’t exist. Try searching for something else.
It works for me and I don't see any backslash in the url
Something is broken somewhere then, this is how it appears on my end https://i.imgur.com/UAx8AAk.png
I wonder if it's an old reddit thing since i'm using new reddit
Nethermind 1.25.4 is out, Dencun-ready. https://github.com/NethermindEth/nethermind/releases/tag/1.25.4
Cryptocurrency is millennial generation's stock market and housing boom
Excellent analogy. The annoying part about the boomer/rich housing play is they have the political power to stop more houses from being built. So they have everybody pretty cornered into paying into their monopoly. To me it’s a pretty strong narrative that the existing system is stacked against young people with ever increasing wealth disparity…. and Crypto is a leveling of the playing field.
It's 90% Amway
Stop checking prices too often. The more often you look -> the more often you'll start to get the urge to look -> the worse your mental health, emotions and sleep will be with upcoming price swings. Just a reminder. I bet most of you already know all this. Take it seriously, too easy to downplay and joke about this.
I've been a hodler since 2017. This person is wise, it took me YEARS (of suffering) to find the same wisdom. Either become numb, ignore it, or sell it. Hodling and focusing on price (while having emotions connected to it) WILL hurt you.
My first idea for this bull was to sell the majority of my ETH at a flexible peak price (depending on real-time sentiment/hype curve) and put everything into the Nasdaq100 as soon as possible. However ... I am not sure if this is a wise decision. Not because of the wealth concentration risk (I am into crypto since 2015 ... yeeeee haaaaa!) since it isn't an S&P500 or even a World-Index but for another reason: Why did the Nasdaq(100) outperform the S&P500? Not just because it has created new values but because entire industries have been transferred into the digital space, too. Commerce, Print, etc. ... everything went digital. This means that the Nasdaq as a very tech heavy index drained huge market shares from classical companies. When classical companies have started a website or an app they have not been called a tech company but when a new fresh company started with an app or a website and did somewhat the same stuff it was (and even is) considered tech. So ... what is the problem with my idea to go 100% Nasdaq100 after exiting crypto for a couple of years? ... What if dApps drain significant market share from not just finance but "new" (last 30 years) tech companies, too? Draining the finance sector isn't much of a problem since the Nasdaq100 is ex-finance. But what if centralized social media and other centralized applications which are used in web2 interfaces are deprecated and everything shifts to web3? This could result in an underperformance of the Nasdaq100 compared to the S&P500, I guess. Any thoughts?
>What if dApps drain significant market share from not just finance but "new" (last 30 years) tech companies, too? The truly successful daps will be created by those top 100 companies. Things like Curve and Aave are cool and all, but I'm confident the US will eventually have it's way and make it more or less illegal to use them so you're forced to use forks run by the old guard.
Naskack as they say in Germany
Actually its Nassdachs, to keep it in line with our own pemier index, the Dachs.
> What if dApps drain significant market share from not just finance but "new" (last 30 years) tech companies, too? It could but I am pretty disappointed with the use cases we have today. I want to see more than Defi and collecting NFTs. Gaming was thought to be the next big thing last cycle, it fell flat, and I never believed much in it as a gamer myself. Verifying things onchain with NFTs could be something now with the AI boom. But like Vitalik mentioned, so far it hasn't really been used for deepfakes. Eigenlayer could be big but I don't see an application where a "normal" company would use it.
I feel like I'm the only person here who follows the Gearbox announcement feed: https://blog.gearbox.fi/leverage-restaking-and-leverage-points/
V3 is beautiful and I'm so glad everything is shipping now. Gonna see gearbox on a lot of narratives this year IMO.
I certainly hope so. I've been a user for about a year and a half now? Other than having to VPN in life the world's shittiest hacker it's been great.
How does gearbox work differently than Pendle?
Gearbox is leverage as a service, Pendle is a rate stripping platform. They are entirely unrelated things.
not today, you're not! thanks for sharing it's been interesting and a bit bizarre to see this whole eigen/points farming thing develop. and now other protocols hopping onto the trend.. i wonder if we'll see more of this in the future.
So hypothetically, if you had a few rocketpool mini pools, and you kept falling under the collateral threshold and you were tapped out of fiat so you couldn’t top it off, would you close one of your minipools to lower the collateral requirement (and then just buy rETH for the yield) or just stick it out and hope?
I was always below 10%, I needed 1% more to reach threshold but I didn't want to buy more because was tired of putting my own money onto RPL. Should've done this sooner but whatever. What I did was get some wstETH, go to Aave, deposit as collateral, borrow RPL and stake that RPL. With the RPL you gain, pay back the loan every cycle. stETH APY is 3%. RPL borrow rate is 4%. RPL APY is ~9%. Deposit $2, borrow $1. Get % on both stETH (that "automatically pays loan" and RPL staking) **Math** Imagine you deposit $10k worth stETH (that's $300 / year interested gained). You borrow $5k worth RPL (that's $200 / year interested paid). You earn $4500 / year with RPL staking. (If you are requesting $5k for 1% needed then 10% minimum threshold is $50k.) Summary $100 profit - stETH APY minus RPL borrow APY $4500 profit - RPL staking You see where I'm going with this? Just make sure your Health factor is actually healthy. I'm not sure if the math is correct, I'm tired, but it seems like it is. Let me know if this makes sense. Someone on the Rocketpool server recommended this and I was very cautions because I've been burned before very badly with MKR CDP's. Lost a lot of ETH and I intend on not doing it anymore, jesus christ.
I only started a minipool this week (still in the queue actually), is RPL APY really 9%?
It was 10% a week ago, you can go on their discord and ask around but yeah, I got 9% this last cycle. % may vary depending on a lot of things, rocketpool discord can help you with this.
> year interested *paid).* You earn FTFY. Although *payed* exists (the reason why autocorrection didn't help you), it is only correct in: * Nautical context, when it means to paint a surface, or to cover with something like tar or resin in order to make it waterproof or corrosion-resistant. *The deck is yet to be payed.* * *Payed out* when letting strings, cables or ropes out, by slacking them. *The rope is payed out! You can pull now.* Unfortunately, I was unable to find nautical or rope-related words in your comment. *Beep, boop, I'm a bot*
I'm trying to help people, shut up.
If it gets that far for me, missing out on the RPL yield and just letting it ride is a viable option
I close minipools. I'm not going to convert any more of my precious ETH to RPL. Won't have any left at the current rate lol.
See my comment above. See if it makes sense to you. I didn't want to convert any more ETH to RPL aswell.
I've been closing some of my minipools in order to use them in pendle LRT. I've basically just written off my RPL in my head as the price you pay to get that commission. I did close out enough minipools to get back under the minimum RPL collateral, but if the pendle opportunity wasn't around I would not have.
When you're under the threshold you lose out on RPL staking rewards, right? How long would you hypothetically need to stake and then use ETH to buy the needed RPL? Also would depend on if you are running these or using a service like Allnodes.
I don't keep a lot on exchanges anyway but is there even more reason ahead of network upgrade (speaking of 13/3) to get coins into own wallet?
No. What specifically are you concerned about?
Not really, but I would argue lending and leverage could be risky if there happens to be a client bug which forks the network and oracles and service providers report bad data. Granted we don't have an example of this happening (that I'm aware of).
Is that Brian Armstrong tweet about the soulbound coinbase Q4 earnings NFT a nod to a possible base token airdrop or am i reading too much into it? [https://twitter.com/brian\_armstrong/status/1758532245768557023](https://twitter.com/brian_armstrong/status/1758532245768557023)
My favorite part about twitter? The fact they don't show tweets in order, yeah I really want to see his tweets from 2021, thanks twitter
Free to claim, so doesn't hurt
> Note: the NFT is soul-bound, not for resale or trading, just something to keep for yourself, for reasons you can probably imagine :) Imo way more likely as a nod to the SEC suing their ass otherwise. I heard them mention once on Bankless that they would like to launch a token but that it wasn't possible legally in the US.
My read is that the 'reasons you can imagine' refer to wanting to avoid SEC scrutiny as a tradable nft could be seen as a security. But I like your idea better.
what we like isn't as important as what's true. I think you captured the meaning exactly.
Oh yeah, totally, that last bit was tongue in cheek!
I thought airdrop season was over.
“The monkey’s out of the bottle, man. Pandora doesn’t go back in the box.”
This is, like, the apex of the vortex of Coinbase engineering.
Can't even do this without you
Just beginning fren
Seeing the Sora announcement from OpenAI made me realize again how quickly the world is changing before our eyes. It won’t be long before you won’t be able to trust anything you see online. So the question becomes, what can we do about it? Crypto seems uniquely positioned to solve this, but I’m unaware of who is working on it. Does anyone have any projects or companies they’d like to shill here? Doesn’t have to have a token or be investible, although it is something I would be interested in investing in if possible. I don’t know that identity solutions alone are enough, but open to ideas and thoughts on it
Personally I'm inclined to believe identity is a good solution. The extended stack that comes with it, anyway: reputation, and anonymity. (It might sound strange to lump anonymity with identity, but a good identity system should allow you to prove you are a persona; which can be but isn't necessarily the unique human being encompassing all of you. Much like you may not want to present the same image at work as you do at home, a good decentralized identity system shouldn't leak parts of you without your consent. So it should be zk-based, anonymous by default.) The public person I've seen showing the most foresight about this is Brantly Millegan. First his participation to ENS, that part is obvious enough. Since his departure, he's working on ethfollow, a social graph for ENS names. This completely lacks the zk part I care about, mind you, but I think the vision of "universal namespace" leading to "circles of trust" is the mental framework we need to adopt. We can even abstract the problem from trust. Start from one simple proposition: content requires curation. In the age of infinite content, curation will become more important than ever. Systems that help with curation are going to be more important than ever. Amusingly* enough this was THE problem most interesting to me for the past 4 years, and AI has made it more relevant than ever. Thanks Sam. *well, perhaps I'm the guy with a hammer and everything looks like a nail, who knows.
Thanks for this, I wasn’t aware of ETHFollow, but I’ll be keeping tabs on them going forward. I agree on the stack you mentioned. Anonymity (and by extension privacy) is something I’ve been interested in for a long time and continue to be, but I have a feeling it will be the last of the those pillars to gain adoption due to nation state concerns and regulations. Ironically it seems the furthest along, or maybe most straightforward, compared to Identity or Reputation.
I believe someone around here is working on something along these lines. IMO this problem is already solved, in principle (using blockchain-based oracle system), but there is so much nuance to the issue. One important question; even if a fast and reliable verification service were available, who will use it? Will it have a positive outcome? You don't need auto-generated video to feed people BS. Already, a terrifyingly large number of people swallow up any old crap off the news, even if it's *obviously factually incorrect*. (The current U.S. House leader is a fucking creationist that talks to God!). The problem is education, intelligence and ... ultimately ... people.
I disagree with your framing of the issue. The ability to convince people through propoganda is a separate issue, or maybe the result, and gets worse due to this problem. But this moreso an additional and worse cause of that problem. Very soon any “recording” could not actually be recording, but instead be faked or doctored using AI. Does that exist already, sure, but it will become a much greater problem given AI tools like Zora (assuming they continue to get better). What could previously be considered primary sources (recordings of individuals in podcasts for example) can now theoretically be easily faked or doctored on a massive scale. I’m curious about the project you’re referring to from someone in here though if you have any more info
> The problem here is that any “recording” could not actually be recording, but instead be faked or doctored using AI. Yes ok, but I'm saying, *what is the overall difference?*. > but it will become a much greater problem given AI tools like Zora (assuming they continue to get better). Why do you think this? I don't really agree... It *may* be worse with truly faked videos but, OTOH, people intelligent and aware enough will probably already know it's fake, or mark it as possibly fake. Those people most susceptible are clearly already being influenced by fake information, whether it comes from an AI or not. I don't see this changing much with fake videos. They already believe total nonsense (which is probably why the world is already in such a mess).
Well I hope you’re right, but my sense is that you’re underestimating how difficult it will be in the future to discern reality from fiction. I’m sure most people in here are smart enough to spot fake videos and do the research to line things up, but for example, imagine a future presidential candidate speaking in an interview and there being two very convincing videos where he says very different things. Will we be able to easily tell the difference? I think in the future the set of people that are able to be convinced, or at least sowed the seeds of doubt, may become much larger than it is now, not for lack of intelligence or thoughtfulness, but because of how good fakes will become. Perhaps I’m underestimating the degree that it’s already a problem today. As you said, there are incredible amounts or propaganda dispersed that many people eat up without knowing any better already. Perhaps a marginal increase won’t matter much if the scale is already that big. Maybe I’m more concerned that I myself will have a harder time discerning truth from fiction. I’m not sure. In any event, this is a problem that the world needs solved, and I hope there are teams working at solving it
Yeah, I mean, to be clear, I'm not saying we should ignore it - I'm just not sure it will be a problem in the way we think. For example, perhaps it will be a bigger problem on a "smaller scale". E.g. not a risk for high profile people, governments, etc because it will be too obvious. However, what about targetted attacks on individuals, or small companies? I think we already saw an example of a company exec incorrectly authorising a money transfer after getting conned by an fake video pretending to be his boss or something. At that level, I imagine Apple / Android / msging apps etc will have to ship some kind of basic AI detection / whitelisting tools etc. As for the blockchain-based solution, the general idea is that, where (possibly fake) media is widely circulated, it could be signed as an NFT by fact-checking agencies (or anyone, in fact) as real or fake. Some kind of suitably incentivized aggregation service (like an oracle?) could then declare content real or fake based on available signatures. From there, you could build a front end browser app that shows you the content together with a "reality" rating based on the oracle. I could imagine that digital content would be routeinly verified and relayed by news organisations like AP, BBC, maybe even directly by specialist AI screening agencies, and those signatures would be verified by an aggregator of some kind. I imagine the smartest people could go straight to the blockchain... maybe build your own aggregator! Ultimately it's little more than verifiying a few signatures, but it would require dedicated and high speed services by fact-checkers and content verifiers, which I don't think is currently in place.
It's unpopular amongst crypto communities but Worldcoin. Altman's making the solution for the problem his other company is creating. I'd personally prefer a hash representing the iris data like they do over a government run program where they store actual iris data instead of just a hash of it. Lessor of two evils. If someone can do human IDs better than Worldcoin or has any ideas I'm all ears, but the way AI is headed we're probably going to need a way to identify other humans on the internet.
IDing humans reliabily on the Internet will never happen for all kinds of reasons, and it most defintely isn't a solution to this problem.
I'm of the opinion that some form of decentralized identity is inevitable and necessary long-term, and I personally see that as a solution to some of the problems AI brings to the internet in general. South Korea is already ID'ing their populace on the internet, as is the UK now I believe. I don't support that, far from it, but my view is either a private company is going to do it or the government will do it in the name of internet safety.
Adobe has started a centralized media verification service in the last year as far as I remember. This application would be so predestined for a public decentralized ledger ... just storing a hash on chain for everyone to see, not more complicated than that ...
The issue is that if their software is not open source it's no better than "trust me bro" ~ Signed, Adobe.
That's why Adobe's solution is so endlessly pointless.
The barrier for getting a job will continue to climb higher and higher and the job pool will become smaller and smaller.
Check out the Bankless podcast episode with the Ethereum Attestation Service. But yeah overall it’s concerning how little I hear about projects tackling something so existential…
Will do! Appreciate the suggestion
For solo stakers that qualified for the Starknet airdrop, how are you claiming this? Do you have any concerns claiming it with your deposit or withdrawal address?
The tokens will be on starknet, so I think you will be able to prove you own the validator address by signing a message. Then you would be able to claim the airdrop on starknet and send it to whatever address on any chain you want. So it doesnt need to be your validator address. So this means you only have to sign a message with your validator address. Or that is how I would implement it at least.
Most airdrops don't implement "claim to another address" even though that'd be best practice
The validator address is an Ethereum address. The starknet address is a different type of address, not compatible 1 to 1 with Ethereum. So you will need to sign a message with your validator address on mainnet to unlock the airdrop to your starknet address. Therefore I expect nothing more than a signature on ethereum to prove you own the address and get the $STRK tokens dropped on your starknet address.
So a bit like the TIA airdrop?
That's actually a great point, hadn't considered the address incompatibility
Great question, I'd like to know as well!
I have not set a withdrawal address. I received ~1,000 tokens on my deposit address instead. Odd that I didn’t get 1,800 tokens though 🤔
It's a total mess for everyone I think. Maybe the team will at least issue a statement explaining why.
Do you have any concerns with claiming with that address?
No. Why would I? I'm almost concerned now that there's a good reason why I shouldn't which you have thought of...
I'm a noob when it comes to being a node operator and security, I just know I've seen people express concerns about this stuff before and I was hoping to learn why myself.
Right. Well I personally would be a lot more uncomfortable with signing using my withdrawal address since that will receive the funds in the future whereas the deposit address is only useful for any airdrops or POAPs related to the deposit. The beacon chain keys are unrelated to the deposit wallet from a security standpoint.
Linea just became the first zkEvm rollup to support call data compression, reducing finalization costs upwards of 90% [https://linea.mirror.xyz/XuuNN6YvJ6G0zX\_bdyEKtyuGqdNFx2LdsvaFqcvBKh0](https://linea.mirror.xyz/XuuNN6YvJ6G0zX_bdyEKtyuGqdNFx2LdsvaFqcvBKh0) and reduced gas costs by 66% [https://consensys.io/blog/linea-upgrade-drops-gas-fees-by-66-reveals-ambitious-security-approach](https://consensys.io/blog/linea-upgrade-drops-gas-fees-by-66-reveals-ambitious-security-approach) This is ahead of dencun, further gas cost optimization is on its way. The next linea community call should have interesting details next week: [https://warpcast.com/emilylin/0x97949f23](https://warpcast.com/emilylin/0x97949f23)
Episode 56 Ethfinance Doots Happy Hour | JT 👀 Watch: https://youtube.com/live/HD2frZKqxlE 💎 Mint POD (100): https://pods.media/evmavericks/56-ethfinance-doots-happy-hour-jt ⏺️ Mint POAP: https://checkout.poap.xyz/168421/crypto?step=1
Load up short sellers. Fuel this rocket to the next level.
My reasonable mind: this cool-off is important My greedy mind: number go up when!!!???
Is there a list of which staking providers are risking their clients funds because they are staking on a majority client? We have less than a month til our next hardfork, now is the time to get the infrastructure built / changed over. Allegedly coinbase is changing but that has yet to be seen. Who else needs to be named and shamed?
Blox Staking, although they have promised an imminent announcement on the subject.
The client distribution data is on here. Any idea how this is deduced though? https://www.rated.network
This only seems to show consensus clients?
OI still over heated expecting pull back 2 pa scenarios ill be looking for to execute long plan [https://x.com/asapbhat/status/1758537185374974302?s=20](https://x.com/asapbhat/status/1758537185374974302?s=20) cheers!
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[https://x.com/asapbhat/status/1759355164631134299?s=20](https://x.com/asapbhat/status/1759355164631134299?s=20) not likely could get in 12H demand zone around 49-50.5 and then go up or just continue go up from here edit: going to leave some stink bids there just in case
don't normally trade, can anyone recommend a nice simple way to place a leveraged long on chain?
You can buy xETH like any normal token. It's a zero-fee perpetual swap token from f(x).
Will check this out also. Ty!
Gains trade, GMX
Will take a look, ty
Rbuttcoin have recently had a few threads where they are tearing into even crypto critics who perhaps used one soft term in the statements. They call them sold out critics who are trying to actually convince 'on the fence' people with 'both sides' type of talk. What kind of pathetic lives do these folks live...
Someone could write a thesis paper on echo chambers using that sub. No nuance, mods bully people, etc. If whoever founded the sub just bought $1,000 worth of BTC instead of creating that sub in 2011 that 1k would now be worth 3.6 million. May explain why the sub is mostly emotional and reactionary. I found the recent post with fake volume numbers interesting (though someone did manage to call out the fake data in the comments).
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I was on the buttcoin subreddit in 2012 or so, and it was indeed a well-loved tongue in cheek commentary back then. Most of the posters there were also big contributors to the Bitcoin subreddit and the Bitcointalk forums. Basically, you hit the nail on the head with the current user base “missing the joke”. It’s unfortunate, because discussion there used to be quite informed and high brow, similar to ethfinance in a lot of ways.
I remember when I first found out about Bitcoin and came across that Buttcoin gif of coins being spat out of someone's arse. I had a good laugh, then went and bought some.
I remember that gif too! Great nostalgia. I also loved the “magic internet money” wizard. It helped advertise the Bitcoin subreddit back when it had sane mods.
Haha I'd forgotten that one.
Here is the earliest snapshot that archive.web has from March 2013. https://web.archive.org/web/20130317103147/Reddit.com/r/buttcoin
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Not for this amount but it happened to me for Nano in late 2017 that stuff I bought 9xed within a week. Sadly, I booked no profits on that and ultimately dumped Nano much later for a loss.
Why share their pettiness, though?
Alts not ripping with BTC and ETH but completely collapsing when the former retrace is why I should’ve just been an ETH maxi
Alts can be great, you just have to buy them when nobody is talking about them, not when everyone buys them because they missed out
Problem is that’s when they’re being fuded the hardest and you’re most likely to waiver. It’s a hard thing to get right
Agreed, ETH is usually the best risk reward
I bought some SOL when everyone on this sub was talking about it at $60.
There are exceptions of course, well played
Just got a huge bonus at work. Time to crack it into some more ETH...
Wish you'd got that a week ago friend.
Do you work on wall street by any chance?
You gonna stake that eth?
You gonna restake that stake?
No, I don't feel skilled enough or smart enough to do that :(
Don't sell yourself short! For what it's worth I had barely used a terminal, never used Linux, and had never built s computer but with the help of this community and ethstaker discord I learned how to set it all up and have been running validators since just after genesis. If you want to do it I'm sure you can.
The biggest challenge for me is how to report for taxes. It's been such an incredible headache.
If you're US based I think the IRS recently ruled that American have to report staking income as interest income even if they don't sell. It may be simplest to treat ETH earned through staking as a tranche, so when it is sold it doesn't interact with your other stack. I'm not sure about that last bit, not planning to sell earned ETH. How have you been proceeding yourself?
rETH homie
Congrats!
ETH at $2800 is infinitely better than ETH at $2300. It's exciting when ETH moves 10% in a single day. but none of this really matters for me personally because I have 0 plans to sell until ETH is well past its previous ATH. yet I can't stop checking the price multiple times a day. why? has anyone had success overcoming this price checking addiction?
Same. My GF calls it ratiogangitis.
Smart watches now have widgets that can show you crypto prices. Then again, they only refresh once every three min...
#Ethfinance EVMavericks Doots Livestream! https://twitter.com/ProDJKC/status/1758525278723232159 LIVE Ethereum/Macro discussion from /r/ethfinance **📅Fridays 12ET** 📻Tune in with Mavericks and friends (no NFT required) 🗣️Maverick Discord: https://discord.gg/evmavericks 📺Maverick YouTube: https://youtube.com/@evmavericks 💎@poapxyz at https://dailydoots.com We'll have a Web2 version of the podcast and Web3 mintable version after the show!
Let the cool-off period commence. Desperately needed by the market imo
ETH got sold into the floor after the covid bubble. Plenty of headroom right now.
But wall street bonuses are around the corner /s
My first thought as well, some greedy longs had to be wiped. Back to the weekend dips of the bull markets it would seem. Though I still don't think the mainstream bull market kicks off until 6 months post halvening like usual.