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The v1s of perp AMM protocols have a very rough track record; might be prudent for users to just wait for v2

“Don’t use chains with centralized sequencers, since someday they might subtly extract value from you Instead use decentralized sequencers that are guaranteed to extract maximum value from you, today”

Introducing the Porto Developer Preview! What if passwords did not exist? What if the web was built natively for payments? Porto is the open-source Typescript library we've built Ithaca that gives accounts the superpowers to answer these questions. Learn more below 🧵

We're hosting a happy hour at our favorite rooftop in San Francisco on Thursday next week. Come hang with the Paradigm crew and community from 5-8pm! Details below

new Paradigm experiment with Dave White RethMatch, an onchain tournament for bots starts now! ends sunday. link in replies 🤖

The future holds a million stablecoins. Today's infra isn't ready. Introducing Orbital, an automated market maker for pools of 2, 3, or 10,000 stablecoins. Orbital unlocks capital efficiency by bringing concentrated liquidity to higher dimensions. w/ Dan Robinson ciamac moallemi 1/8

Prioritized cancels is a cool property, but I think the even more important one for Hyperliquid’s success was free cancels (and free places) Any fee on cancelled orders is prohibitive for normal MM strategies This has been one huge advantage of AMMs over most onchain orderbooks

that’s also why hybrid market making dexes like solfi and zerofi are taking off on solana. it’s a lot cheaper than running a pure mm strategy on onchain orderbook like phoenix/openbook v2. and at the same time, they have some kind of built in AMM attributes.

1/ The inflection point for crypto isn't coming, it's here After 6½ years building Paradigm with Matt Huang, the investment thesis for crypto has never been so obvious If you are asking me about crypto PMF, you're already behind

Agree with most of these!

Is there any way to do an onchain prediction market for p(doom)? Given the impossibility of settlement in the apocalypse and the difficulty of credit in the non-apocalypse case

1/ When we led Privy’s Series A in 2023, one thing came up again and again: customers didn’t just love the product – they loved Henri, Asta, Max, and team. Huge congrats to them today as they announce Stripe will acquire Privy. Hard to imagine a more deserving team.

She's just happy because she had to put up w being our first call on absolutely everything under the sun :b If you can work with caitlin and the team at Paradigm, you should not hesitate.

Today's decision markets can only evaluate a single proposal for each decision. This doesn't scale. Introducing Quantum Markets: a capital efficient mechanism for scaling futarchy. 1/9

How did Timeboost affect the market structure on Arbitrum? And how does it compare to Base? Here are a few plots & data from the weth/usdc 5bps pairs. Caveat emptor: I forgot to post this earlier and now the data are a bit stale, so use at your own risk! 1/

The deeper you get into DEX design, the sillier it feels to be dogmatic about any of it Everything depends on fiddly microstructure details

Trying to get o3 to write a paper for me and it got stuck on a pretty basic misunderstanding of AMMs and path dependency So we're now 10 messages deep into an argument about it Incredibly addictive, this will replace Twitter

When we figure out a use case for onchain Fibonacci, everybody's benchmarks are going to rip