Block Enthusiast (@blockenthusiast) • Hey
A friend of DeFi
Publications
- It appears twitter has added rate limits.
feels like an inflection point for onboarding.
What are the best guides to onboarding to lens?
What are the best methods of discovery currently available?
- Wrote an article about the Avi CRV squeeze for any interested
https://blockenthusiast.substack.com/p/long-squeeze-short-squeeze-any-squeeze
- Is there any documentation to how dispatcher works?
What does it mean to be an Optimistic UI?
If I don't challenge a post it eventually settles?
Do I need to be active in fraud proofing, and is there any social notification that a post was fraudulent if individually viewed?
For instance in optimistic rollups if a transaction is posted it can be individually validated before the fraud proof settles based on information available. However with social information this cannot be validated as my speech without individual acknowledgement which is not available without a signature. If someone reads a post and it does not optimistically settle how would they be made aware that speech was not mine?
- Ethereum is designed such that it enters an agreement with service providers such that the more providers currently not living up to obligations at a time the stronger the penalty.
Likewise, censorship should be approached the same way.
MEV-Boost is coordination happening external to Ethereum. Ethereum needs to align incentives against coordinated lack of service within its own system.
First step is we need to develop a framework for recognizing censorship's lack of service.
https://twitter.com/VitalikButerin/status/1582104482368086016
From there we need to be able to apply native slashing for this by treating censorship as downtime and scaling penalties for coordinated downtime.
Much like client diversity acts as a hedge against slashing risk, I see the market evolving such as relay diversity, or builder diversity as relays get phased out, being a hedge against censorship penalties
As we've seen with recent manifold issues, validators themselves must simulate blocks to ensure that the fee reported by the relay is accurate.
In doing so, validators should also evolve to monitor for censorship in their selection to ensure they get paid and are not penalized
- In case anyone needs 🌪️ front end
https://ipfs.io/ipfs/QmTFnDJbfZLbopwjowmwNE9LFvK599sxhktAArQUvH7Tex
- Thinking a lot about Path Dependent Equity
Projects have gotten far more complicated than simple Fully Diluted Value, Circulating Supply and tracking unlock dates
Many projects there is no way to tell how much relative ownership you'll have going forward
https://blockenthusiast.substack.com/p/notes-on-path-dependent-equity
https://blockenthusiast.substack.com/p/notes-on-path-dependent-equity
- is there a way to use lens for DM's or are all posts public?
- Thinking about it, would be cool to see a Lens based Local Crypto service allowing people to make local swaps.
Prior hosting services were always forced to comply with KYC, but feels like Lens can bypass that.
Not sure if playing to much with fire for what Lens was built for but seems like a great first usecase to demonstrate the increased freedom it allows.
Most local trade sites don't let users trade stables, and I think that makes a simpler conversion for fiat <> crypto.
Curious if anyone has opinions about such a service?
- A couple months ago FloorDAO used Uniswap v3 to facilitate bonds MAYC and I thought the process was super interesting, so finally got around to writing out how it went down.
It utilized what I've been referring to in my head as a Treadmill.
The main issue faced was we wanted folks to be able to bond less than 22 ETH worth of MAYC, but liquidity wasn't available.
Provide at 22.5 ETH matching the floor on order books. By the time its sold out, you have > 22.5 ETH per MAYC sold, and can afford to purchase slightly higher priced assets, working up through the order book.
The demand for bonds was the power source the treadmill needed.
This greatly reduced the capital requirements of all participants, from bonders who could now purchase small amounts of MAYC with low slippage, to FloorDAO who could resupply to meet bond demand without too large an advanced commitment.
https://blockenthusiast.substack.com/p/floor-sweeping-treadmills?s