Jonah Erlich (@jierlich) • Hey
Cypherpunk. Co-Founder at Den - We're hiring!
Publications
- I just contributed to the 🕯️ KZG Ceremony 🕯️ using 0x08c6c…cd7b to help scale Ethereum
↓ Add your own randomness ↓ ceremony.ethereum.org
- Proud to announce our $2.8M fundraise!
We started @onchainden.lens to accelerate the transition to a crypto-native economy
This raise will allow us to double down on supporting onchain teams embracing that future
Thank you to our backers and supporters - this is just the beginning
- 🚨 Big news 🚨
We're excited to announce Den's $2.8M fundraise to accelerate the transition to a crypto-native economy
Here's how we got here and what's next 👇
Over the last year, we've helped onchain teams move 10x faster
We've solved their biggest problems around creating, signing, and executing transactions
And since our launch last month, Den has grown to over $130M secured and $15M transacted
But this is just the beginning
We'll be using these funds to build out our team and ship groundbreaking features even faster
You'll look back at the Den you know and love today as humble beginnings
Are you a dev? Apply to work at Den now to help build a crypto-native future
Thank you to our incredible backers and community throughout crypto
Follow us at @onchainden.lens for updates
- In the midst of our ConstitutionDAO defeat, an idea was born
Onchain teams need to be 10x faster to win and transition the world to a crypto-native economy
From that idea, we built a product securing over $80M for more than 180 teams
Today, we're sharing it with the world 👇
Introducing Den: The fastest multisig for onchain teams, built on Safe
Here we explore how we built Den into what it is today, and where we're going
The day after Ken Griffin rugged us, @IttaiSvidler and I made a plan to interview every multisig signer we could get our hands on. After a few dozen conversations, we saw a clear trend of problems
The top three:
1. Coordinating signers
2. Understanding transactions
3. Creating transactions
Our announcement thread @onchainden.lens goes into details about how we solve these problems for our users
So where are we going next?
We're tackling many of the other issues onchain teams face to make them faster
The obsession with speed is key here. Why?
At Den, our mission is to accelerate the transition to the crypto-native economy
An economy's growth is measured by output, which happens when money changes hands
By speeding up onchain teams, they can do more faster
New types of transactions that previously felt burdensome
And more time spent building valuable products and services, since less is spent on multisig operations
This all increases the number of transactions which results in more economic output
The result?
A thriving crypto-native economy outpacing legacy rails
Interested in making your multisig 10x faster? Book a demo at https://onchainden.com/ now
- Introducing Den: the fastest multisig for onchain teams, built on Safe.
Starting today, you have access to the same tool that world-class teams have been using to manage over $80M in assets.
You’re about to move 10x faster 👇
Some background:
Over the last six years, Safe has become the gold standard for onchain teams. It secures 5% of the entire crypto asset class, and its usage is still exploding through the bear. Responsible onchain teams use Safe.
But there’s a problem: Onchain teams are still slower than offchain teams. They need to be 10x faster to transition the world to a crypto-native economy.
So we spoke to hundreds of multisig signers to figure out what’s slowing them down. The end result?
We sped up over 180 teams and secured over $80m onchain, by solving their three biggest problems:
1) It takes days — sometimes weeks — to execute transactions
Signers are busy, away from their ledgers, or just forgetful.
So Den automatically coordinates signers with recurring notifications on Discord and Telegram so you don’t have to constantly follow up with them.
2) It takes hours to understand transactions, and even then teams are scared to execute them.
Den decodes transactions into human readable information, shows descriptions from your team, and simulates transactions before you sign so you can execute with confidence.
3) It’s hard to create transactions — so hard that some teams hire engineers for it.
But now you can create transactions intuitively with Den
Simulate them as you create so you’re confident in the outcome, and batch transactions together so your teammates only need to sign once.
Starting today your team can use Den’s public beta with your existing Safe multisigs.
Sign up now at https://www.onchainden.com/ to make your multisig 10x faster.
- Big day for Den tomorrow
- Stop hunting down signers for every multisig transaction
Den now lets you create batched transactions, so your signers can approve more transactions in less time
Send tokens, interact with contracts, and connect to dapps — all in one transaction
- We are obsessed with transparency in crypto
But transparency is useless without comprehensibility
Being difficult to understand is just as bad as being opaque
- Twitter is dead. Long live Lens!
- Twitter is dead. Long live Lens!
- Big news coming soon from Den
- Is there a way to tell OpenSea to block offers on an asset?
I keep getting offer on my Lens profile
My identity is not for sale
- Despite the bear, web3 activity continues
We now have a rich ecosystem including payroll, financial services, liquid and illiquid assets, and more
A parallel onchain economy
- web2 login isn’t better UX, we’re just used to it
Sign in with Ethereum is much simpler and more secure
- DeFi has the best product market fit in crypto and it’s ridiculous that some people are ashamed of it
- Every engineer knows the internet is held together by duct tape and fishing wire
Crypto adds a foundation of reinforced steel beams
Less flexible, but built to last
- DAO: be on our multisig?
ct celebrity: ok
DAO: plz sign?
ct celebrity: sign ‘er? i hardly know ‘er! I
- “Self-custody” is bad branding and scares people away
- gm from orb!
Finally found a way to post from mobile with a hardware wallet profile
- It seems like most folks are storing their lens handles on hot wallets instead of hardware (or Safes)
I'm a bit worried about the security
Identity theft (especially when irreconcilable) is arguably worse than financial theft
- You can't trust your crypto on centralized exchanges, but wallets are fundamentally broken too
Malicious contracts, phishing attacks, and lost seed phrases plague every day users
Here's how we fix it:
To start, how did we get into this situation in the first place?
Wallets started fairly simple because in the early days we didn't have a sense of the potential applications
No DeFi, DAOs, or NFTs in sight
Wallets are made up of two components: a public and private key
- Public key: your address that others can see and send tokens to
- Private key: lets you send tokens and interact with dapps, and is only available to you
So what's the problem here? One key has the ability to control all your assets. This is a single point of failure for a hacker to steal everything
Hardware wallets make an effort to mitigate this, but they're hard to use and you have to give up convenience for security. And you can still be rugged by malicious contracts
Account Abstraction solves these problems. It sounds like a scary, technical term, but it's simpler than you think
Account Abstraction means that you can program your wallet to make it safe and convenient. What sorts of behaviors can you program?
- Only allow interactions with a list of verified dapps such as Uniswap and OpenSea
- Limits on daily spending
- Allowing family/friends to recover funds if you lose your wallet
The sky is the limit!
So how can you get access to Account Abstraction?
EIP-4337 is the latest from Ethereum core devs trying to create a standard
But you can access it today at the application layer, with the largest example being Safe (formerly Gnosis Safe)
Safe started as a multi-signature wallets
This means that multiple people need to sign a transaction before it is executed
If you have a 3 of 5 safe, that means 3 of the 5 total owners need to sign a transaction for it to execute
Today, Safe stores about 5% of all cryptocurrency and is used by some of the largest teams in crypto
It started as a multisig, but that's not where it stops
Safe has a module system that lets you add code that allows any type of functionality. You can empower individual safe owners to have:
- a daily withdrawal limit
- a timelock where a third party runs fraud detection
- the ability to move stablecoins between trusted addresses
The future of storing crypto is account abstraction
Interested in working on this problem?
We're hiring devs @onchainden.lens
Den helps teams using Safe move fast without compromising security
https://onchainden.notion.site/Join-Den-Catalyze-The-Economy-s-Transition-To-Web3-65762ed68b0246c3aa6893eb87231626
- gm
- Looking to work as a dev in web3? We're hiring! https://onchainden.notion.site/Join-Den-Catalyze-The-Economy-s-Transition-To-Web3-65762ed68b0246c3aa6893eb87231626
- Excellent conversation about the future of GnosisDAO, the Safe DAO, and Gnosis Chain
https://open.spotify.com/episode/53yaF8i3DydMmAZsxAvelp?si=Sawta6-sRPiSczIW4NgzvA&nd=1
- Minted a Pooly NFT to support Pool Together in fighting the shameful, politically-motivated lawsuit targeting this team
Vires in Numeris
https://mint.pooltogether.com/
- Lens is an excellent place to kickstart the Token Curated Registry movement
Soon we'll see front-ends that let you choose which registries moderate your feed
An open market for content moderation
- First product update on decentralized social:
Den notifications now include transaction data!
You can now see what you’re signing directly in notifications. Den notifications now include the transaction’s contract and function call.
- "Paradigm Shifts for the Decentralized Web" becomes more true by the day, with Lens as a clear example of Verborgh's vision
https://ruben.verborgh.org/blog/2017/12/20/paradigm-shifts-for-the-decentralized-web/
- The latest takes and tales from the world of DAOs
- I'm in a battle with @ittai.lens to become a bigger lensfluencer
- Collects are more meaningful on Lens than Twitter likes since you need to sign a message, especially when using a hardware wallet
- gm