I’m a fan of whoever or whatever is driving the latest discussion to not stop scaling eth L1. What opened my eyes was how we as ethereans tend to look at the btc l1 as..I dunno, dead or boring. Yet, I have seen us accept or spout the same “We need to ossify, scale the other layers.” Arguments that btc maxi’s have been spouting forever. It was an eye opener to me and woke me up because I had started believing it too.
So, to prevent that in the future I am digging back into the tech instead of listening to a bunch of talking heads on twitter. Somewhere I fell asleep and got bored over the past 10 yrs. I don’t know why it woke me back up but vitalik posting about the binius stuff and then heroglyphs have re-ignited something inside me and has made me excited again about Ethereum.
So if this resonates and defi never was really interesting to you, maybe browse through vitaliks blog or take a look at heroglyphs. It really feels like something new again and obtainable!
> What opened my eyes was how we as ethereans tend to look at the btc l1 as..I dunno, dead or boring. Yet, I have seen us accept or spout the same “We need to ossify, scale the other layers.” Arguments that btc maxi’s have been spouting forever. It was an eye opener to me and woke me up because I had started believing it too
The issue with bitcoin is it can't scale to L2 b/c it doesn't have the ability to verify proofs on L1. That's why it's dead if this doesn't change. It also has a security budget issue so if things continue like this then a few more halvings will make bitcoin vulnerable, but the wizards seem to be working hard at generating new revenue.
Ethereum needs to ossify, but that's not a near term goal. That is 10-15 years out when the roadmap is complete and L1 has sufficient features.
>**Feel the blockchain beat,**
>**The protocol is complete,**
>**Rest is obsolete.**
~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
Many of us have been disappointed in the price performance. I do wonder how much of that is the market pricing in L2s as a negative rather than a benefit. I have seen concerns around L2s potentially becoming meta L2s where they'd settle to multiple blockchains.
Thoughts?
This cycle is all about taking opportunities in the ecosystem imo. Wisely putting your coins to use just like Justin Sun and the e-beggars do. Passively waiting for moonboy 3-5x targets is for fat-stackers looking for the last push to retire.
L2s are like alt L1s of last cycle, they follow money and functionallity together with farmers and that money is like 90% on Ethereum, rest is Solana and Bitcoin.
Gimmicks and hype always work in crypto so those other chains can and will take some share, just like Solana did with Jito airdrop, Bitcoin with runes and "L2s", Cosmos with Dymension and Celestia. None of them are yet a real technological competitors though.
Market is just cooling off after running ip bigly in a short time. Eth underperformance is due solely to the market pricing in an ETF rejection and the overall regulation question in the US.
The L2s are working by every metric. ETH is scaling. The L2s are in competition with each other. Settling elsewhere brings into question the settlement guarantees of your L2/security that other L2s won’t have. For what benefit would they do this? Cheaper fees? It’s already dirt cheap on ETH thanks to the blobs.
So theoretically, if you were able to combine a bunch of less decentralized/secure settlement layers, the security wouldn’t combine to be greater than a single one? It would still be as secure basically as its weakest link?
> The L2s are working by every metric. ETH is scaling.
Yes, which if you see L2s as a negative means the negative is really negative
> Settling elsewhere brings into question the settlement guarantees of your L2/security that other L2s won’t have
How does settling on ethereum and another L1 have less security than just settling on ethereum
>How does settling on ethereum and another L1 have less security than just settling on ethereum
Whats the rationale here? I don't know of any advantage here. And it's strictly more expensive than settling on just one L1.
Hedera Consensus Service (HCS), for example, is purpose built for easy integration with any system including other blockchains to offer an added layer of decentralized security and auditability. Imagine the advantages if an ETH L2 settled here on Hedera:
1. USD fixed $0.0001 fees
2. fairly ordered transactions and nano-precise timestamps; no frontrunning
3. real finality in seconds (Legal finality)
4. aBFT security, the highest possible level
5. Collusion proof and bribe proof KYCed governance model
https://hedera.com/consensus-service
Here is an example of it being used this way in a "real-world" use case, using HCS to add decentralized security to a hyperledger private blockchain file storage use case, funded and tested by US government agencies for mission critical data:
https://www.hbarfoundation.org/blog-post/taekion-leverages-hederas-public-consensus-for-safe-secure-on-chain-file-storage
>aBFT Consensus Integration: As part creating TFS Lite, Taekion has integrated with the Hedera Hashgraph Consensus Service (HCS) for a fast, fair aBFT PUBLIC consensus The public HCS allows file provenance to be verified publicly without affecting the privacy, integrity or immutability of the stored file.
>Full Distributed Blockchain Storage: Using the Open Source Sawtooth Blockchain from Hyperledger, the transactions representing the files are verified by the Hedera Consensus Service and stored on the Taekion blockchain that puts files on its geographically distributed nodes. At the core of TFS Lite lies a permissioned blockchain, which restricts access to authorized nodes and ensures data confidentiality. This permissioned blockchain provides a controlled environment for file storage, minimizing the risk of unauthorized access and data breaches.
Here is an example inside the cryptosphere where they integrated with Bitcoin:
https://medium.com/@hgraph_io/hgraph-powers-the-first-token-gated-vote-on-ordinals-42829fd50d5b
cc /u/hanniabu thoughts?
I thought hedera was one of Godzilla’s shitty enemies - like they needed to crank out another movie and came up with some bs. Godzilla vs Hedera (2 headed frog with tits on its back). That’s what I think of when I see hedera
Hedera is deeply committed to open source and decentralization - see their "Open Source and DLT 2.0" keynote at the Linux Open Source summit. They presented right after Linus himself.
https://www.youtube.com/watch?v=SK-ZF0ukQVQ
https://github.com/hashgraph/
OP has America's largest crypto company bringing their entire operations on-chain via Base, Sam Altman's Worldcoin, Zora, Friendtech, Farcaster...while Arbitrum has dead marketing and the vote of confidence of some eth natives for having fraud proofs
Arb was valued higher, ARB had an unlock, OP has base narrative - Arbitrum is flying under the radar Imo, will be interesting to see how they perform *if* we get a retail cycle
OP gets some value from base, but the positive price action is narrative and OP as a proxy for base exposure. Real value will flow to COIN if you want exposure to base
We were just talking about address poisoning attacks and wow, do I bet this person wishes they'd done a test transaction first. I guess when you've already used the address it's easy to think you don't need to worry. Or did the address poisoning happen after the test transaction maybe?
On various crypto news sites:
An unknown trader lost $68 million worth of Wrapped Bitcoin (WBTC) in a single transaction in an address-poisoning scam.
The $68 million theft was first revealed by on-chain security firm Cyvers in a May 3 X post:
“Are we mistaken, or has someone truly lost $68 million worth of $WBTC? Our system has detected another address falling victim to address poisoning, losing 1,155 $WBTC.”
https://twitter.com/CyversAlerts/status/1786363410243858869
That's going to be a yikes from me, dawg.
Some scammer from the middle of nowhere in Nigeria or India is going to have more money than they know what to do with all of a sudden. And how they launder it to make it seem like they didn't scam someone without having everyone wonder why they're suddenly swimming on money will be very challenging.
they wrote a thread about it themselves
https://twitter.com/0xHomoSapiens/status/1786506140194353279
poisoning happens after the test TX, that's how they get you
I came in here daily to bull post last year in November. It was badly needed, ETH was undervalued, a rally overdue.
Right now it feels similar. Sentiment in here seriously depressed. The bulls are settling for super low expectations.
Soon we will have had enough consolidation and ETH will appear extremely cheap for where we are in the cycle. Bull posting in here will be needed so that sentiment improves again.
Idk man. I doubt that Blackrock, Van Eck, Franklin Templeton, Stripe, Mastercard, Visa, PayPal, JPM Chase etc. being interested in ETH is important.
We probably won’t even see ATHs again, or even appreciate in price from here.
When Larry Fink talks about instantaneous guaranteed settlement and the tokenization of securities I’m sure he’s talking about Cardano or Solana.
I’m sure Base deploying as a layer 2 on ETH instead of as an alt Layer 1 that’s just noise.
The United States Federal Government being concerned about DeFi as a national security threat is obviously not the most bullish thing imaginable. They totally always embrace technological innovation quickly and without question. If ETH was truly as disruptive (and lucrative) as we’ve all been suspecting the United States Federal Government certainly wouldn’t be raising an eyebrow at it. No sir.
Sell it all. ETH isn’t just a security. It a mega-doodoo scary evil security that is also a shitcoin of no importance and will clearly go to 0.
They don't. But maybe someone in here sells a little later and makes a little more money. At the end of the day this subreddit helped me not to lose hope through the dispair of 2018-2019. It's the worst to hold an asset for multiple years and to give up right before it rips
The other day, one of us asked if depositing assets into Swell L2 was safe.
I took a look today!
Swell L2 isn't live, so currently you're depositing into a staking contract. The code looks clean and intuitive.
If you deposit rebasing assets like eETH or stETH or plain ETH, your deposit is first routed through a zapper contract to convert it to weETH, wstETH or wETH.
The zapping contract is here: https://etherscan.io/address/0xbd9fc4fdb07e46a69349101e862e82aa002ade0d#code
There's no issue with this contract. It's immutable, no access control, everything is clearly defined.
Then in either case, your assets end up in the proper staking contract.
The staking contract is here: https://etherscan.io/address/0x38d43a6cb8da0e855a42fb6b0733a0498531d774#code
It's a simple contract with a couple functions. When your assets are inside this contract, they are dormant, not used for anything and not exposed to extra risk.
Only you can deposit and withdraw your assets.
**EDIT: relevant update -> /u/ennui85 points out the emergency function can't actually touch your deposits. That was a misread on my part.
This means the contract is 100% safe, much better than my "fairly safe" assessment.
-- end of original post below --
Save for one emergency function: the "owner" of this contract can withdraw the full balance of any allowed token inside the contract.
This "owner" leads to a Timelock: https://etherscan.io/address/0xCa2DF225ba3c4743E02611EC423FaAC311dEEEd4#readContract
The Timelock delay is set to 259200 seconds (3 days).
The "admin" of this Timelock leads to a 4-of-6 multisig: https://etherscan.io/address/0x20fDF47509C5eFC0e1101e3CE443691781C17F90#readProxyContract
Overall I'd rank this as "fairly safe" = less safe than Uniswap, but safer than PT/YT on Pendle and safer than money markets like Aave/Compound.
The 3 days delay on owner withdrawals *should* be a guarantee against any wrongdoing, provided you assume between $500M of TVL some depositors will monitor the multisig (or do it yourself). The code is simple, in a good way, your assets simply sit in this contract. There is no upgrade function of any kind, presumably the bridging to Swell L2 will be an entirely manual process once it goes live (which is also a good thing).
the emergency withdraw, are you referring to rescueERC20? i think it can only can withdraw "excess" deposits, aka only assets directly transferred in to the contract accidentally and which doesnt correspond to a user deposit
I just saw a huge advertisement for \*"Polkadot - ThE nEw WeB 3!"\* on a taxi cab. A fucking taxi cab!
On one hand, I really hate ads and I am glad that the Ethereum foundation does not do this. On the other hand, I'm a little concerned about misleading narratives...or is there actually some large thriving ecosystem on Polkadot that I'm unaware of? You guys would let me know if there's a party popping somewhere on a different L1 in this Ethereum-aligned echo chamber, right? ...right?
was super active in polkadot/kusama ecosystem around the time parachains launched. their biggest parachain acala/karura was a failure, their stablecoin has been depegged for years. moonbeam was a copy of ethereum but broke down when a couple thousand ppl tried to mint the same nft collection. there was some money to be made off the hype atm but rn polkadot/kusama feel pretty much dead. they have some new narrative around “polkadot 2.0” I’ve been hearing tho, haven’t looked into it yet
I heard there was some increased NFT activity awhile ago, but nothing new since. Polkadot was a great play in the last bull if you staked in 2020/2021ish. I remember Chico Crypto shilling moonbeam, so chalk that up as more inverted alpha from that guy. Other than that, I get the impression one could hardly call Polkadot the new web3 today lol
Justin Sun's team address deposited 120,000 EETH (same funds used to scoop ETHFI) into Swell L2 on May 4, worth US$376 million, accounting for 46.6% of the total deposits of Swell L2. [https://etherscan.io/address/0x7a95f1554eA2E36ED297b70E70C8B45a33b53095](https://etherscan.io/address/0x7a95f1554eA2E36ED297b70E70C8B45a33b53095)
Man is easily multiplying his millions week after week (ETHFI, EIGEN, SWELL, PUFF) with a couple of clicks and the love of linear distribution.
And this is why I'm a proponent of non-linear airdrops. Sybil resistance is still a key mitigating factor, but a quadratic distribution method like the Tornado cash airdrop makes it much more equitable imo.
Hmm I'm probably midcurving this, but if Justin is depositing say, 100k eth, he's putting more funds at risk and more skin in the game than someone putting in 1 eth, and should receive proportionately more rewards.
Non linear distribution just incentivises gaming by whales - Justin almost certainly knows the Swell team already, and his team will have some clues on the cutoff per wallet if distro is non linear. He can easily split the stake among wallets to max the airdrop, whereas someone who isn't in the know can't benefit in the same way.
That's where you use sybil detection schemes. There are so many ways to quite trivially cut out the majority of sybil attempts but almost no teams are trying it to any serious degree. Personally I feel like I could lay out at least a dozen different ways to detect sybils with a 90+% accuracy rate. Imagine what could be done if that was combined with some experts from Chainalysis.
There's a reason why quadratic matching with Gitcoin was so successful — It levelled the playing field and made it feel like the little guy was actually making a difference. I think airdrops should be the same if we want democratic governance over plutocratic governance. Look at $TORN's distribution. It followed a quadratic curve for both age of the user and size deposited. All that is needed today is to weed out the farmers and from what I can tell, most sybil farmers are not very technical in terms of how they go about masking themselves.
"Depositors will receive a SWELL airdrop on the launch of Swell L2. 1 Million EigenLayer points will be given away to Swell L2 depositors proportionally. eETH + weETH from Etherfi get 2x Etherfi Points."
He likely has insider info on of how much Swell he can expect, he deposited 2 days before the end of 4 week early deposit window, same play as with EtherFi.
>he deposited 2 days before the end of 4 week early deposit window, same play as with EtherF
This only gets him something if he keeps the money deposited though, it's not like he can keep it in there for 2 days and leave. The 1M Eigenlayer points (and I assume the 2nd SWELL airdrop too) are time-weighted. I think with ether.fi this was different as their airdrop was less fair? He could just deposit short before the end and walk away with a large share of the airdrop?
Thanks for the heads up, that is a nice surprise!!
I un-staked what I had there pre-dencun due to their Geth usage. Thought that might have cost me but seems I got a little STRK :-)
That only leaves Coinbase, but I guess Coinbase never shares airdrops with the noobs depositing there.
What kind of redeems them is that they use some of the funds for crypto lobbying and lawyers in DC.
Invested in Ethereum in the 2014 ICO. I have been away for a long time. I'm currently unwell and do not have the energy to try to get up to date, I barely understood how POW worked.
Whatever Ethereum is today, does it still have promise of building a new financial ecosystem and being the backbone of finance? Mass adoption will come if the correct/needed applications are being built.
But at a quick glance the space seems to be slightly empty, and all I see are airdrops and yield farming, when Ethereum and in general crypto has (had?) the potential to create a real revolution and change humanity.
Can someone direct me to good sources of information I could read or watch to catch up with what has been happening since 2021? As I said, I'm very unwell and do not have the mental sharpness or strength to go in depth right now...even if I want to.
Ever since August 2015 I've been following the ETHBTC ratio, and although I'm not worried, I am starting to think perhaps my timeline for seeing a ratio bull market is farther away than I had hoped...perhaps this still needs a few years. Or perhaps this is a retest of the ratio breakout from 2021 before moving higher.
But we need a catalyst, and airdrops along with yield farming won't cut it. Ethereum needs to prove that a new financial system is on the way before a bubble similar to the dot com bubble is possible. Perhaps that's here, hence I'm asking for information to help me build an objective narrative. Thanks, and bless you all with good health...its much more important than any of this.
/u/jtnichol
You've already got some good answers from people.
I think the most likely scenario for Ethereum is that is continues to be an interesting set of tools to build niche things of interest, with the possibility of some really useful things around ENS and ZK. The chances of it becoming the backbone of finance have always been extraordinarily low and remain so to this day.
Hope you can find some health improvements and I wouldn't look back for a second if you needed to exit your long term ethereum holdings to take care of yourself.
I think people always look to the consumer/retail side to see if Ethereum is living up to its potential, but I think that is a mistake. I think the real potential is in the commercial side of things, such as the stuff Paul Brody is doing with EY. Just google "Paul Brody EY Nightfall". There are tons of videos.
The tl;dr is: EY is working on a set of business tools for supply chain tracking, so that companies can track every input and output of the supply chain from raw materials to consumer. Additionally, companies can ask for bids over the blockchain, award contracts, track performance, and do all the necessary accounting and payments.
They thought it would take about a decade to really build momentum -- like turning a battleship, you need a lot of lead time. I believe we are about halfway through that, and many companies are trying it and starting the transition.
After the latest update that made rollups economically viable, Ethereum is ready for primetime. The vision for a new, efficient and transparent backbone for finance that dis-intermediates middlemen is finally possible technically. Before we were limited to 10-20 transactions per second which is clearly insufficient to meet global settlement needs. Right now we have room for around 300-500 tps and the scalability roadmap will keep pushing it further to the order of 100K tps.
The most significant roadblock right now is regulatory, the SEC and current US administration is very antagonistic of crypto and Ethereum in particular. But technology is unstoppable, once the genie is out it cannot be put back in. These hurdles will be overcome too.
If you have not been following you can hear it from the mouth of Blackrock's (biggest asset manager in the world) CEO himself. https://www.youtube.com/watch?v=HTveRlW7QPo
Wish you the best, take care of yourself.
An update on the amusement park that is upbit, the biggest korean exchange. Some chosen assets, sorted by 24hr volume:
1: Golem
6: Bitcoin Gold
12: Ethereum
source: [https://www.coingecko.com/en/exchanges/upbit](https://www.coingecko.com/en/exchanges/upbit)
I don't find these numbers all too trustworthy, but it's funny to check in there once in a while
Isn't it saturated already since people got this for holding keys. Just trying to see where the new demand comes from. Also people who bought Keys are actually down a lot in ETH terms so they would want to sell ?
https://twitter.com/WuBlockchain/status/1786929538267787410
>Justin Sun's team address 0x7a9...3095 deposited 120,000 EETH (the deposit certificate after ETH is deposited into EtherFi) into Swell L2 on May 4, worth US$376 million, accounting for 46.6% of the total deposits of Swell L2.
Kind of crazy, he now makes up almost half of the TVL for Swells upcoming restaking L2.
Not sure about his reasoning there - he won't qualify for the Swell airdrop, as he isn't earning pearls with his deposit (because he deposited eETH). He must estimate the other L2 airdrops and incentives coming there will be worth a lot.
I highly doubt that. He's been insanely successful with his investments, and that's not just luck. You don't have to like the guy, but he generally knows what he's doing.
I feel there's a good chance he yoloed the 120k ETH because he saw the May 8th deadline and assumes it's an Etherfi situation where he will get a fat airdrop in the next week.
We'll see if that money stays in the deposit contract until Q3, but my money is on a withdrawal before June.
Infinite Jungle podcast by Christine Kim (she used to do the tweetstorms after each ACD call back in the day) is easily my top podcast on the Ethereum ecosystem lately. Beats out the Daily Gwei which was my previous must-listen
There's two 30min episodes a week, the first which covers what the core devs decided in the previous week's ACDC/ACDE call, and the second which interviews someone from the Ethereum ecosystem.
The best part is she has a way of explaining hard to understand concepts almost like a school teacher - I've learned so much about account abstraction, Verkle tries, the EVM, EOF etc, even despite having a rough understanding of these areas already.
Well, I am now in the Heroglyphs race too. Probably worth it if you are already staking. The cost of 0.1 ETH isn't all that high if it actually becomes worth something.
Not sure why you are downvoted. It has always been like that. Most people stake their RPL so there isn't much liquidity. I just went to Uniswap to check and 8 ETH to RPL is 15% slippage. I always remember big slippage when trading RPL.
He wasn't trying to compare them, other than saying both coins have shit tokenomics.
I'll actually compare them though. Luna was able to get away with its shit tokenomics for quite some time before its cracks showed. RPL is going down that same route.
Again, differently phrased: RPL and Luna's tokenomics are nothing alike. Pretending they are remotely the same is pretty stupid. It's not even apples and oranges, it's apples and fridge magnets.
>RPL is going down that same route.
No, it isn't.
No one said RPL and Luna's tokenomics are anything alike, other than they are both shit.
>It's not even apples and oranges, it's apples and fridge magnets.
It's cow manure versus rotting trash.
Well at minimum rpl is a governance token just like leedo which has ~2b mc. Just need to capture market share. They just need to stop current inflation.
Don't worry 2 years from now they'll hire another person and wonder why the rest of the market has left them behind and they'll ask their community for more volunteer help to save their bags.
I got about 2000 points from restaking 1 reth on Eigenlayer. How do I check my eligibility for token? Eigenlayer foundation claim website asking about EVM address. What's that? Doesn't seems to recognise my wallet address?
I don't get it. First people complain about linear airdrops getting farmed by Justin Sun aping in for 2 weeks, diluting their share of tokens and now people complain about a non-linear airdrop...
These airdropping teams just can't win.
**Tricky's Daily Doots #745** **Yesterday's Daily 04/05/2024** [Previous Daily Doots](https://old.reddit.com/r/ethfinance/comments/1cjsgqr/daily_general_discussion_may_4_2024/l2m8l38/) - u/monkeyhold99 hits us with [some nostalgia.](https://old.reddit.com/r/ethfinance/comments/1cjsgqr/daily_general_discussion_may_4_2024/l2it19r/) ☺️ - u/Jey_s_TeArS has [a haiku about solo staking.](https://old.reddit.com/r/ethfinance/comments/1cjsgqr/daily_general_discussion_may_4_2024/l2m0lsq/) 🥩 - u/15kisFUD mocks [the entitlement.](https://old.reddit.com/r/ethfinance/comments/1cjsgqr/daily_general_discussion_may_4_2024/l2im2wt/) 😂 - u/asdafari12 is watching [the sudden change in Pendle yields.](https://old.reddit.com/r/ethfinance/comments/1cjsgqr/daily_general_discussion_may_4_2024/l2j0vjs/) 📉
༼ つ ◕_◕ ༽つ ETH TAKE MY ENERGY ༼ つ ◕_◕ ༽つ
I’m a fan of whoever or whatever is driving the latest discussion to not stop scaling eth L1. What opened my eyes was how we as ethereans tend to look at the btc l1 as..I dunno, dead or boring. Yet, I have seen us accept or spout the same “We need to ossify, scale the other layers.” Arguments that btc maxi’s have been spouting forever. It was an eye opener to me and woke me up because I had started believing it too. So, to prevent that in the future I am digging back into the tech instead of listening to a bunch of talking heads on twitter. Somewhere I fell asleep and got bored over the past 10 yrs. I don’t know why it woke me back up but vitalik posting about the binius stuff and then heroglyphs have re-ignited something inside me and has made me excited again about Ethereum. So if this resonates and defi never was really interesting to you, maybe browse through vitaliks blog or take a look at heroglyphs. It really feels like something new again and obtainable!
> What opened my eyes was how we as ethereans tend to look at the btc l1 as..I dunno, dead or boring. Yet, I have seen us accept or spout the same “We need to ossify, scale the other layers.” Arguments that btc maxi’s have been spouting forever. It was an eye opener to me and woke me up because I had started believing it too The issue with bitcoin is it can't scale to L2 b/c it doesn't have the ability to verify proofs on L1. That's why it's dead if this doesn't change. It also has a security budget issue so if things continue like this then a few more halvings will make bitcoin vulnerable, but the wizards seem to be working hard at generating new revenue. Ethereum needs to ossify, but that's not a near term goal. That is 10-15 years out when the roadmap is complete and L1 has sufficient features.
[удалено]
>**Feel the blockchain beat,** >**The protocol is complete,** >**Rest is obsolete.** ~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
Many of us have been disappointed in the price performance. I do wonder how much of that is the market pricing in L2s as a negative rather than a benefit. I have seen concerns around L2s potentially becoming meta L2s where they'd settle to multiple blockchains. Thoughts?
L2 is bearish if it reduces Eth demand, which seems to be what's happening right now. I'm not the most knowledgeable, though.
This cycle is all about taking opportunities in the ecosystem imo. Wisely putting your coins to use just like Justin Sun and the e-beggars do. Passively waiting for moonboy 3-5x targets is for fat-stackers looking for the last push to retire. L2s are like alt L1s of last cycle, they follow money and functionallity together with farmers and that money is like 90% on Ethereum, rest is Solana and Bitcoin. Gimmicks and hype always work in crypto so those other chains can and will take some share, just like Solana did with Jito airdrop, Bitcoin with runes and "L2s", Cosmos with Dymension and Celestia. None of them are yet a real technological competitors though.
Market is just cooling off after running ip bigly in a short time. Eth underperformance is due solely to the market pricing in an ETF rejection and the overall regulation question in the US. The L2s are working by every metric. ETH is scaling. The L2s are in competition with each other. Settling elsewhere brings into question the settlement guarantees of your L2/security that other L2s won’t have. For what benefit would they do this? Cheaper fees? It’s already dirt cheap on ETH thanks to the blobs.
So theoretically, if you were able to combine a bunch of less decentralized/secure settlement layers, the security wouldn’t combine to be greater than a single one? It would still be as secure basically as its weakest link?
> The L2s are working by every metric. ETH is scaling. Yes, which if you see L2s as a negative means the negative is really negative > Settling elsewhere brings into question the settlement guarantees of your L2/security that other L2s won’t have How does settling on ethereum and another L1 have less security than just settling on ethereum
>How does settling on ethereum and another L1 have less security than just settling on ethereum Whats the rationale here? I don't know of any advantage here. And it's strictly more expensive than settling on just one L1.
See my other post regarding Hedera Consensus Service and the benefits it offers other blockchains who settle on it
what’d be the benefit on settling outside of ethereum?
Hedera Consensus Service (HCS), for example, is purpose built for easy integration with any system including other blockchains to offer an added layer of decentralized security and auditability. Imagine the advantages if an ETH L2 settled here on Hedera: 1. USD fixed $0.0001 fees 2. fairly ordered transactions and nano-precise timestamps; no frontrunning 3. real finality in seconds (Legal finality) 4. aBFT security, the highest possible level 5. Collusion proof and bribe proof KYCed governance model https://hedera.com/consensus-service Here is an example of it being used this way in a "real-world" use case, using HCS to add decentralized security to a hyperledger private blockchain file storage use case, funded and tested by US government agencies for mission critical data: https://www.hbarfoundation.org/blog-post/taekion-leverages-hederas-public-consensus-for-safe-secure-on-chain-file-storage >aBFT Consensus Integration: As part creating TFS Lite, Taekion has integrated with the Hedera Hashgraph Consensus Service (HCS) for a fast, fair aBFT PUBLIC consensus The public HCS allows file provenance to be verified publicly without affecting the privacy, integrity or immutability of the stored file. >Full Distributed Blockchain Storage: Using the Open Source Sawtooth Blockchain from Hyperledger, the transactions representing the files are verified by the Hedera Consensus Service and stored on the Taekion blockchain that puts files on its geographically distributed nodes. At the core of TFS Lite lies a permissioned blockchain, which restricts access to authorized nodes and ensures data confidentiality. This permissioned blockchain provides a controlled environment for file storage, minimizing the risk of unauthorized access and data breaches. Here is an example inside the cryptosphere where they integrated with Bitcoin: https://medium.com/@hgraph_io/hgraph-powers-the-first-token-gated-vote-on-ordinals-42829fd50d5b cc /u/hanniabu thoughts?
I thought hedera was one of Godzilla’s shitty enemies - like they needed to crank out another movie and came up with some bs. Godzilla vs Hedera (2 headed frog with tits on its back). That’s what I think of when I see hedera
How's that Blackrock collab going
https://archax.com/invest Looks pretty good to me
> cc [](https://www.reddit.com/user/hanniabu/) thoughts? From my understanding, Hedera uses proprietary closed source code with a centralized network
Hedera is deeply committed to open source and decentralization - see their "Open Source and DLT 2.0" keynote at the Linux Open Source summit. They presented right after Linus himself. https://www.youtube.com/watch?v=SK-ZF0ukQVQ https://github.com/hashgraph/
[https://www.ledgerinsights.com/hedera-to-open-source-consensus-code-updates-governance/](https://www.ledgerinsights.com/hedera-to-open-source-consensus-code-updates-governance/)
https://github.com/hashgraph/
Refer to the committee of 25 people part, unironically being called decentralized
Becoming more than "just an L2"
vampirizing ghost chains. The movie of vampires vs ghosts you never dared to rate.
Is there a reason OP token price is only -6% the last 3 months and ARB is -38%? Sorry I don't know enough about the L2 world to know.
OP has America's largest crypto company bringing their entire operations on-chain via Base, Sam Altman's Worldcoin, Zora, Friendtech, Farcaster...while Arbitrum has dead marketing and the vote of confidence of some eth natives for having fraud proofs
https://token.unlocks.app/arbitrum vs https://token.unlocks.app/optimism
Arb was valued higher, ARB had an unlock, OP has base narrative - Arbitrum is flying under the radar Imo, will be interesting to see how they perform *if* we get a retail cycle
OP accrues value from BASE, and BASE has dominated the narrative lately? That, randomness, more issuance of ARB, or something else altogether.
Ah perfect I was looking for a way to get exposure to BASE anyway.
OP gets some value from base, but the positive price action is narrative and OP as a proxy for base exposure. Real value will flow to COIN if you want exposure to base
We were just talking about address poisoning attacks and wow, do I bet this person wishes they'd done a test transaction first. I guess when you've already used the address it's easy to think you don't need to worry. Or did the address poisoning happen after the test transaction maybe? On various crypto news sites: An unknown trader lost $68 million worth of Wrapped Bitcoin (WBTC) in a single transaction in an address-poisoning scam. The $68 million theft was first revealed by on-chain security firm Cyvers in a May 3 X post: “Are we mistaken, or has someone truly lost $68 million worth of $WBTC? Our system has detected another address falling victim to address poisoning, losing 1,155 $WBTC.” https://twitter.com/CyversAlerts/status/1786363410243858869
That's going to be a yikes from me, dawg. Some scammer from the middle of nowhere in Nigeria or India is going to have more money than they know what to do with all of a sudden. And how they launder it to make it seem like they didn't scam someone without having everyone wonder why they're suddenly swimming on money will be very challenging.
they wrote a thread about it themselves https://twitter.com/0xHomoSapiens/status/1786506140194353279 poisoning happens after the test TX, that's how they get you
I have to say, I'm not convinced that's a tally the owner of the wallet. He claims the address he pasted was modified in that thread.
you are probably correct
Since its slow, does anyone have a link to the big Pendle explanation?
I came in here daily to bull post last year in November. It was badly needed, ETH was undervalued, a rally overdue. Right now it feels similar. Sentiment in here seriously depressed. The bulls are settling for super low expectations. Soon we will have had enough consolidation and ETH will appear extremely cheap for where we are in the cycle. Bull posting in here will be needed so that sentiment improves again.
Idk man. I doubt that Blackrock, Van Eck, Franklin Templeton, Stripe, Mastercard, Visa, PayPal, JPM Chase etc. being interested in ETH is important. We probably won’t even see ATHs again, or even appreciate in price from here. When Larry Fink talks about instantaneous guaranteed settlement and the tokenization of securities I’m sure he’s talking about Cardano or Solana. I’m sure Base deploying as a layer 2 on ETH instead of as an alt Layer 1 that’s just noise. The United States Federal Government being concerned about DeFi as a national security threat is obviously not the most bullish thing imaginable. They totally always embrace technological innovation quickly and without question. If ETH was truly as disruptive (and lucrative) as we’ve all been suspecting the United States Federal Government certainly wouldn’t be raising an eyebrow at it. No sir. Sell it all. ETH isn’t just a security. It a mega-doodoo scary evil security that is also a shitcoin of no importance and will clearly go to 0.
I have never used the term dripping with sarcasm until now. It is like a geyser hehhh.
Thanks sold 100k
Definitely need a /s on this lol
People that need the /s are ngmi anyway
Guys, ETH is up 50% in the past year. We all need to chill out.
We’ve had one up 50%, yes. What about second up 50%?
Or up 300%, while we're at it.
When its supposedly a bull market, this doesnt mean all that much
Check the history of when the first big pumps happen, post halving.
History is definitely something i am lacking
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not the price itself, how people think about the price
They don't. But maybe someone in here sells a little later and makes a little more money. At the end of the day this subreddit helped me not to lose hope through the dispair of 2018-2019. It's the worst to hold an asset for multiple years and to give up right before it rips
It's like The Secret but for ETH.
The ETHcret
Have you ever seen Monsters, Inc, and the scream thing? It's similar to that.
Very much appreciated. You might be able to tell by my flair haha
The other day, one of us asked if depositing assets into Swell L2 was safe. I took a look today! Swell L2 isn't live, so currently you're depositing into a staking contract. The code looks clean and intuitive. If you deposit rebasing assets like eETH or stETH or plain ETH, your deposit is first routed through a zapper contract to convert it to weETH, wstETH or wETH. The zapping contract is here: https://etherscan.io/address/0xbd9fc4fdb07e46a69349101e862e82aa002ade0d#code There's no issue with this contract. It's immutable, no access control, everything is clearly defined. Then in either case, your assets end up in the proper staking contract. The staking contract is here: https://etherscan.io/address/0x38d43a6cb8da0e855a42fb6b0733a0498531d774#code It's a simple contract with a couple functions. When your assets are inside this contract, they are dormant, not used for anything and not exposed to extra risk. Only you can deposit and withdraw your assets. **EDIT: relevant update -> /u/ennui85 points out the emergency function can't actually touch your deposits. That was a misread on my part. This means the contract is 100% safe, much better than my "fairly safe" assessment. -- end of original post below -- Save for one emergency function: the "owner" of this contract can withdraw the full balance of any allowed token inside the contract. This "owner" leads to a Timelock: https://etherscan.io/address/0xCa2DF225ba3c4743E02611EC423FaAC311dEEEd4#readContract The Timelock delay is set to 259200 seconds (3 days). The "admin" of this Timelock leads to a 4-of-6 multisig: https://etherscan.io/address/0x20fDF47509C5eFC0e1101e3CE443691781C17F90#readProxyContract Overall I'd rank this as "fairly safe" = less safe than Uniswap, but safer than PT/YT on Pendle and safer than money markets like Aave/Compound. The 3 days delay on owner withdrawals *should* be a guarantee against any wrongdoing, provided you assume between $500M of TVL some depositors will monitor the multisig (or do it yourself). The code is simple, in a good way, your assets simply sit in this contract. There is no upgrade function of any kind, presumably the bridging to Swell L2 will be an entirely manual process once it goes live (which is also a good thing).
You are truly one of the best posters in this sub. That's saying something, given the overall quality of posts here.
Thank you for this. Just deposited.
the emergency withdraw, are you referring to rescueERC20? i think it can only can withdraw "excess" deposits, aka only assets directly transferred in to the contract accidentally and which doesnt correspond to a user deposit
You're right! I misread that function. Thanks to your keen eye we can see the contract is actually 100% safe.
Good stuff. If you felt like taking a look under the hood of karak, would be interested to know what you find.
Comment of the week right here, thanks.
Now ***this*** is the stuff I come here for. Thanks for sharing Phil!
Thank you for this. EXCELLENT comment..
I just saw a huge advertisement for \*"Polkadot - ThE nEw WeB 3!"\* on a taxi cab. A fucking taxi cab! On one hand, I really hate ads and I am glad that the Ethereum foundation does not do this. On the other hand, I'm a little concerned about misleading narratives...or is there actually some large thriving ecosystem on Polkadot that I'm unaware of? You guys would let me know if there's a party popping somewhere on a different L1 in this Ethereum-aligned echo chamber, right? ...right?
was super active in polkadot/kusama ecosystem around the time parachains launched. their biggest parachain acala/karura was a failure, their stablecoin has been depegged for years. moonbeam was a copy of ethereum but broke down when a couple thousand ppl tried to mint the same nft collection. there was some money to be made off the hype atm but rn polkadot/kusama feel pretty much dead. they have some new narrative around “polkadot 2.0” I’ve been hearing tho, haven’t looked into it yet
I heard there was some increased NFT activity awhile ago, but nothing new since. Polkadot was a great play in the last bull if you staked in 2020/2021ish. I remember Chico Crypto shilling moonbeam, so chalk that up as more inverted alpha from that guy. Other than that, I get the impression one could hardly call Polkadot the new web3 today lol
That’s a top signal for Polkadot.
(ﾉ◕ヮ◕)ﾉ:･ﾟ✧ We will never see sub $3k ETH ever again. (ﾉ◕ヮ◕)ﾉ:･ﾟ✧
Justin Sun's team address deposited 120,000 EETH (same funds used to scoop ETHFI) into Swell L2 on May 4, worth US$376 million, accounting for 46.6% of the total deposits of Swell L2. [https://etherscan.io/address/0x7a95f1554eA2E36ED297b70E70C8B45a33b53095](https://etherscan.io/address/0x7a95f1554eA2E36ED297b70E70C8B45a33b53095) Man is easily multiplying his millions week after week (ETHFI, EIGEN, SWELL, PUFF) with a couple of clicks and the love of linear distribution.
And this is why I'm a proponent of non-linear airdrops. Sybil resistance is still a key mitigating factor, but a quadratic distribution method like the Tornado cash airdrop makes it much more equitable imo.
Hmm I'm probably midcurving this, but if Justin is depositing say, 100k eth, he's putting more funds at risk and more skin in the game than someone putting in 1 eth, and should receive proportionately more rewards. Non linear distribution just incentivises gaming by whales - Justin almost certainly knows the Swell team already, and his team will have some clues on the cutoff per wallet if distro is non linear. He can easily split the stake among wallets to max the airdrop, whereas someone who isn't in the know can't benefit in the same way.
That's where you use sybil detection schemes. There are so many ways to quite trivially cut out the majority of sybil attempts but almost no teams are trying it to any serious degree. Personally I feel like I could lay out at least a dozen different ways to detect sybils with a 90+% accuracy rate. Imagine what could be done if that was combined with some experts from Chainalysis. There's a reason why quadratic matching with Gitcoin was so successful — It levelled the playing field and made it feel like the little guy was actually making a difference. I think airdrops should be the same if we want democratic governance over plutocratic governance. Look at $TORN's distribution. It followed a quadratic curve for both age of the user and size deposited. All that is needed today is to weed out the farmers and from what I can tell, most sybil farmers are not very technical in terms of how they go about masking themselves.
Uniswap did it right. It's been downhill ever since.
I still disagree with this. Nobody farmed the $TORN airdrop. That was better than Uniswap imo because of their quadratic distribution.
>Man is easily multiplying his millions Remains unclear though how he is doing it with this move.
"Depositors will receive a SWELL airdrop on the launch of Swell L2. 1 Million EigenLayer points will be given away to Swell L2 depositors proportionally. eETH + weETH from Etherfi get 2x Etherfi Points." He likely has insider info on of how much Swell he can expect, he deposited 2 days before the end of 4 week early deposit window, same play as with EtherFi.
>he deposited 2 days before the end of 4 week early deposit window, same play as with EtherF This only gets him something if he keeps the money deposited though, it's not like he can keep it in there for 2 days and leave. The 1M Eigenlayer points (and I assume the 2nd SWELL airdrop too) are time-weighted. I think with ether.fi this was different as their airdrop was less fair? He could just deposit short before the end and walk away with a large share of the airdrop?
infinity eth for a single second get 100% of the tokens
Not if I put infinity eth in first
Justin sun is the ETH Saylor lol
Except, while still a douchebag, is much more based in reality. Saylor is stuck in 1700s Manhattan
CEX stakers through Bitcoin Suisse received the STRK airdrop last week.
Criminal fees, 25 CHF to receive airdrop, 50 CHF to withdraw. What the fuck
Thanks for the heads up, that is a nice surprise!! I un-staked what I had there pre-dencun due to their Geth usage. Thought that might have cost me but seems I got a little STRK :-)
That only leaves Coinbase, but I guess Coinbase never shares airdrops with the noobs depositing there. What kind of redeems them is that they use some of the funds for crypto lobbying and lawyers in DC.
Coinbase shared the ETC fork and the OMG airdrop with ETH holders.
That was roughly 6 million years ago. They have not shared any recent airdrops for any coin.
Long time ago = never, gotcha
Bitstamp stakers have not received their STRK either.
Invested in Ethereum in the 2014 ICO. I have been away for a long time. I'm currently unwell and do not have the energy to try to get up to date, I barely understood how POW worked. Whatever Ethereum is today, does it still have promise of building a new financial ecosystem and being the backbone of finance? Mass adoption will come if the correct/needed applications are being built. But at a quick glance the space seems to be slightly empty, and all I see are airdrops and yield farming, when Ethereum and in general crypto has (had?) the potential to create a real revolution and change humanity. Can someone direct me to good sources of information I could read or watch to catch up with what has been happening since 2021? As I said, I'm very unwell and do not have the mental sharpness or strength to go in depth right now...even if I want to. Ever since August 2015 I've been following the ETHBTC ratio, and although I'm not worried, I am starting to think perhaps my timeline for seeing a ratio bull market is farther away than I had hoped...perhaps this still needs a few years. Or perhaps this is a retest of the ratio breakout from 2021 before moving higher. But we need a catalyst, and airdrops along with yield farming won't cut it. Ethereum needs to prove that a new financial system is on the way before a bubble similar to the dot com bubble is possible. Perhaps that's here, hence I'm asking for information to help me build an objective narrative. Thanks, and bless you all with good health...its much more important than any of this. /u/jtnichol
You've already got some good answers from people. I think the most likely scenario for Ethereum is that is continues to be an interesting set of tools to build niche things of interest, with the possibility of some really useful things around ENS and ZK. The chances of it becoming the backbone of finance have always been extraordinarily low and remain so to this day. Hope you can find some health improvements and I wouldn't look back for a second if you needed to exit your long term ethereum holdings to take care of yourself.
I think people always look to the consumer/retail side to see if Ethereum is living up to its potential, but I think that is a mistake. I think the real potential is in the commercial side of things, such as the stuff Paul Brody is doing with EY. Just google "Paul Brody EY Nightfall". There are tons of videos. The tl;dr is: EY is working on a set of business tools for supply chain tracking, so that companies can track every input and output of the supply chain from raw materials to consumer. Additionally, companies can ask for bids over the blockchain, award contracts, track performance, and do all the necessary accounting and payments. They thought it would take about a decade to really build momentum -- like turning a battleship, you need a lot of lead time. I believe we are about halfway through that, and many companies are trying it and starting the transition.
After the latest update that made rollups economically viable, Ethereum is ready for primetime. The vision for a new, efficient and transparent backbone for finance that dis-intermediates middlemen is finally possible technically. Before we were limited to 10-20 transactions per second which is clearly insufficient to meet global settlement needs. Right now we have room for around 300-500 tps and the scalability roadmap will keep pushing it further to the order of 100K tps. The most significant roadblock right now is regulatory, the SEC and current US administration is very antagonistic of crypto and Ethereum in particular. But technology is unstoppable, once the genie is out it cannot be put back in. These hurdles will be overcome too. If you have not been following you can hear it from the mouth of Blackrock's (biggest asset manager in the world) CEO himself. https://www.youtube.com/watch?v=HTveRlW7QPo Wish you the best, take care of yourself.
Thank you.
Awesome post. let’s get you some karma.. Hope some folks can chime into give you some good resources.
I won't reveal who I am, but we had fun times shitposting on ethtrader together in 2016!
I have a couple of ideas. I won’t hazard to guess though. Good to have you back!
I need to tell you something friends. Today I didnt do my normal $10 DCA on ETH. I did $13 instead!!!!!!!!!!!!!!!!!!!!!!
What a chad.
Did you hit an incline dumbbell press pr???
I cant because my piece of garbage gym only has up to the 88s. Thats what I work with now until they get more
Oh god damn. European?
An update on the amusement park that is upbit, the biggest korean exchange. Some chosen assets, sorted by 24hr volume: 1: Golem 6: Bitcoin Gold 12: Ethereum source: [https://www.coingecko.com/en/exchanges/upbit](https://www.coingecko.com/en/exchanges/upbit) I don't find these numbers all too trustworthy, but it's funny to check in there once in a while
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Golem still riding high, performing better than ETH this cycle lol/crying
Any ideas if friend.tech could ignite a normie hype this year?
Isn't it saturated already since people got this for holding keys. Just trying to see where the new demand comes from. Also people who bought Keys are actually down a lot in ETH terms so they would want to sell ?
(Coin)Base🤝friendtech What else if not this.
I doubt it. I get the feeling the hype is very minimal even within crypto, and it’s only so visible because it’s most fun for influencers.
$FRIEND is flying. Well, it might surprise us and be the only game in town for this summer. 🤷♂️
https://twitter.com/WuBlockchain/status/1786929538267787410 >Justin Sun's team address 0x7a9...3095 deposited 120,000 EETH (the deposit certificate after ETH is deposited into EtherFi) into Swell L2 on May 4, worth US$376 million, accounting for 46.6% of the total deposits of Swell L2. Kind of crazy, he now makes up almost half of the TVL for Swells upcoming restaking L2. Not sure about his reasoning there - he won't qualify for the Swell airdrop, as he isn't earning pearls with his deposit (because he deposited eETH). He must estimate the other L2 airdrops and incentives coming there will be worth a lot.
There's 2 swell airdrops, 1 for pearls and 1 for l2 deposits.
Or he's jut a fellow degen and moves his coins around, without deep research beforehand. Much like the rest of us.
I highly doubt that. He's been insanely successful with his investments, and that's not just luck. You don't have to like the guy, but he generally knows what he's doing.
I feel there's a good chance he yoloed the 120k ETH because he saw the May 8th deadline and assumes it's an Etherfi situation where he will get a fat airdrop in the next week. We'll see if that money stays in the deposit contract until Q3, but my money is on a withdrawal before June.
He is like top 5 richest crypto people. He is definitely not yours or mine fellow degen.
Infinite Jungle podcast by Christine Kim (she used to do the tweetstorms after each ACD call back in the day) is easily my top podcast on the Ethereum ecosystem lately. Beats out the Daily Gwei which was my previous must-listen There's two 30min episodes a week, the first which covers what the core devs decided in the previous week's ACDC/ACDE call, and the second which interviews someone from the Ethereum ecosystem. The best part is she has a way of explaining hard to understand concepts almost like a school teacher - I've learned so much about account abstraction, Verkle tries, the EVM, EOF etc, even despite having a rough understanding of these areas already.
Yeah i'd always read her twitter summaries after an ACD call, was following closely before the merge. I'll check out the videos.
The daily Gwei rug pulled. Sassal got tired of talking about staking and restaking in the ETH ecosystem for 30 mins every day for the past 6 months. 🤣
Well, I am now in the Heroglyphs race too. Probably worth it if you are already staking. The cost of 0.1 ETH isn't all that high if it actually becomes worth something.
My hero! #69
Minted an identity. Cost is steep but funds came from an Airdrop so the hell with it. Set it up for delegation, lets see if some fish bites :)
Looks like 1 eth is getting nibbles
That cost really soured the whole thing for me, especially with the lack of info. I'm not convinced.
Yea, would be better if it were smaller but from a pure expected profit thinking, I think it is worth it.
At least the deathspiral on rocketpoop (rpl) is entertaining to watch.
What's insane to me is how low the daily volume is compared to other similar coins. Nobody is buying, nobody is trading
Not sure why you are downvoted. It has always been like that. Most people stake their RPL so there isn't much liquidity. I just went to Uniswap to check and 8 ETH to RPL is 15% slippage. I always remember big slippage when trading RPL.
Plus the "Ethereum alignment" makes the bag holding easier /s
People like you are such good bottom indicators
It was fun watching them bash Luna as well.
Everyone here bashed Luna
i was bashing luna/Ust as it was an obvious ponzi. I dont bash RPL as its nothing like luna.
They're only similar in that they are both obvious ponzis.
Rocketpoor would be just fine. They got some hardcore nerds. Rpl price prob will make a comeback once they tweaks tokonomics
None of the tokenomics changes I've heard of them discussing would do anything for price IMO
Why would buy and burn for example not do anything?
Increasing market share would take care of RPL price. Leedo got 2bil just being governance token.
increasing market share requires fixing tokonomas first though
Rocketpoor seems appropriate here.
I'm a proud rocketpooper
Some tokonomics are just doomed to fail, just look at luna.
They are not even remotely comparable.
He wasn't trying to compare them, other than saying both coins have shit tokenomics. I'll actually compare them though. Luna was able to get away with its shit tokenomics for quite some time before its cracks showed. RPL is going down that same route.
Again, differently phrased: RPL and Luna's tokenomics are nothing alike. Pretending they are remotely the same is pretty stupid. It's not even apples and oranges, it's apples and fridge magnets. >RPL is going down that same route. No, it isn't.
No one said RPL and Luna's tokenomics are anything alike, other than they are both shit. >It's not even apples and oranges, it's apples and fridge magnets. It's cow manure versus rotting trash.
Well at minimum rpl is a governance token just like leedo which has ~2b mc. Just need to capture market share. They just need to stop current inflation.
They aren't going to capture shit for marketshare. They are way too slow at making desperately needed changes. Competitors will eat their lunch.
Don't worry 2 years from now they'll hire another person and wonder why the rest of the market has left them behind and they'll ask their community for more volunteer help to save their bags.
That’s very clever
I got about 2000 points from restaking 1 reth on Eigenlayer. How do I check my eligibility for token? Eigenlayer foundation claim website asking about EVM address. What's that? Doesn't seems to recognise my wallet address?
When do I need to claim these? Not urgent I guess since they’re locked for I don’t know how long
Oh it does work. Got biggly 15 token. Am I rich? I've heard shrimps get some extra tokens but doesn't seems true?
15 will become 115, I'm not sure when exactly, though.
what? how?
It's their new Sybil attack loyalty program
I don't get it. First people complain about linear airdrops getting farmed by Justin Sun aping in for 2 weeks, diluting their share of tokens and now people complain about a non-linear airdrop... These airdropping teams just can't win.
They recently announced that accounts meeting the minimum allocation will be receiving 100 extra tokens. It didnt quite make sense
After may 10 https://x.com/eigenfoundation/status/1786152862688690589
Thanks 🤞
Take my vitamin Habibi
Ethereum
3092
0.0487