SpearbitDAO audit done ✅, 0 criticals found 😎, guarded launch by ETH Denver 🚀! In other news, the fallout from FTX has continued to erode trust in centralized services. OTC desks are seeing a massive drop in volume and this trend will continue as DeFi native options come online. Traders will no longer need to take on counter-party risk for optimal execution. https://twitter.com/TheBlock__/status/1613619361557712912DAOs Trading On-ChainThere have been a few DAOs that recently conducted large...

SpearbitDAO audit done ✅, 0 criticals found 😎, guarded launch by ETH Denver 🚀! In other news, the fallout from FTX has continued to erode trust in centralized services. OTC desks are seeing a massive drop in volume and this trend will continue as DeFi native options come online. Traders will no longer need to take on counter-party risk for optimal execution. https://twitter.com/TheBlock__/status/1613619361557712912DAOs Trading On-ChainThere have been a few DAOs that recently conducted large...

We achieved a major development milestone this month 🚨-- our alpha codebase was released for feedback from early integrators and collaborators! The reception from the community has been overwhelmingly supportive 🙌. https://twitter.com/0x70626a/status/1552742335653576705?s=20&t=5lrksPCrbnxwsNxLgwyoaQ Please feel free to reach out directly via twitter if you’re interested in getting early access to our private GitHub. We are planning to release a major code update end of August and are preppi...

We achieved a major development milestone this month 🚨-- our alpha codebase was released for feedback from early integrators and collaborators! The reception from the community has been overwhelmingly supportive 🙌. https://twitter.com/0x70626a/status/1552742335653576705?s=20&t=5lrksPCrbnxwsNxLgwyoaQ Please feel free to reach out directly via twitter if you’re interested in getting early access to our private GitHub. We are planning to release a major code update end of August and are preppi...

Ethereum merged successfully and we are officially feature complete 🎉! This milestone was later than we expected, but a big part of designing a robust new DeFi primitive is to ensure that it solves existing problems while being flexible enough to address impending future needs. Given how important the topic of MEV has been before and after the merge, we believe the features baked into our implementation including MEV Aware Fee Capture and Automatic MEV Redistribution will help TWAMMs become ...

Ethereum merged successfully and we are officially feature complete 🎉! This milestone was later than we expected, but a big part of designing a robust new DeFi primitive is to ensure that it solves existing problems while being flexible enough to address impending future needs. Given how important the topic of MEV has been before and after the merge, we believe the features baked into our implementation including MEV Aware Fee Capture and Automatic MEV Redistribution will help TWAMMs become ...

What a sad day for the entire crypto ecosystem -- FTX the second-largest exchange blew up unceremoniously. Billions of dollars in retail money, investments, and crypto industry progress were vaporized overnight. https://twitter.com/TheBlock__/status/1590058316079992832Custody Is Not The AnswerIn just the last year, we’ve seen multiple centralized custodial entities like 3AC, Luna, Celsius, etc gamble with user funds and cause retail to be utterly wiped out. The narrative that centralized regu...

What a sad day for the entire crypto ecosystem -- FTX the second-largest exchange blew up unceremoniously. Billions of dollars in retail money, investments, and crypto industry progress were vaporized overnight. https://twitter.com/TheBlock__/status/1590058316079992832Custody Is Not The AnswerIn just the last year, we’ve seen multiple centralized custodial entities like 3AC, Luna, Celsius, etc gamble with user funds and cause retail to be utterly wiped out. The narrative that centralized regu...

Wow 🤯 we couldn’t have picked a better time to start our gas optimization development. With the results of several optimizations (discussed in detail below), we were able to shave off nearly 40% (!!) of gas used across the board in our TWAMM smart contract functions.Gas comparison for contract functions of optimized design and FRAX TWAMM contract driven by benchmark designDuring times of network congestion, unoptimized TWAMM code would have no chance of being included in the block without pa...

Wow 🤯 we couldn’t have picked a better time to start our gas optimization development. With the results of several optimizations (discussed in detail below), we were able to shave off nearly 40% (!!) of gas used across the board in our TWAMM smart contract functions.Gas comparison for contract functions of optimized design and FRAX TWAMM contract driven by benchmark designDuring times of network congestion, unoptimized TWAMM code would have no chance of being included in the block without pa...

“First they ignore you, then they laugh at you, then they fight you, then you win.” It looks like we’re clearly in the fight phase now. After the recent banking meltdown (unrelated to crypto), Signature bank the last remaining large crypto-friendly bank was shuttered as well to completely choke out crypto on-ramps. https://twitter.com/nic__carter/status/1635328056234766337?s=20 Unfortunately for the old guard, crypto has shown people a new way to control their financial future. You no longer ...

“First they ignore you, then they laugh at you, then they fight you, then you win.” It looks like we’re clearly in the fight phase now. After the recent banking meltdown (unrelated to crypto), Signature bank the last remaining large crypto-friendly bank was shuttered as well to completely choke out crypto on-ramps. https://twitter.com/nic__carter/status/1635328056234766337?s=20 Unfortunately for the old guard, crypto has shown people a new way to control their financial future. You no longer ...

Happy New Year! Here’s to one of the most tumultuous years in crypto so far 🍻. Centralized services crashed and burned spectacularly, leading to a re-birth in decentralization and on-chain services -- maybe 4th time’s the charm 🤞. Every previous bear market had a major protocol launched, and 2023 won’t be any different given the amazing teams working on new DeFi primitives, scaling, and ZK privacy. https://twitter.com/FEhrsam/status/1525140165651419136?s=20&t=PtCp0zxL_8bZuektBv38XQIncreasin...

Happy New Year! Here’s to one of the most tumultuous years in crypto so far 🍻. Centralized services crashed and burned spectacularly, leading to a re-birth in decentralization and on-chain services -- maybe 4th time’s the charm 🤞. Every previous bear market had a major protocol launched, and 2023 won’t be any different given the amazing teams working on new DeFi primitives, scaling, and ZK privacy. https://twitter.com/FEhrsam/status/1525140165651419136?s=20&t=PtCp0zxL_8bZuektBv38XQIncreasin...

What a slow and uneventful month in crypto…🙄. The contagion from Luna's blow-up brought down 3AC, which continued to wreak havoc across the CeFi ecosystem 🎢. Most of the robust DeFi lending platforms seemed to have escaped, but some almost committed the cardinal sin to survive the fallout -- more on that below. This month we took time to elaborate on some of the not-so-well understood TWAMM concepts & questions we hear in our conversations with customers. Additionally, since we’re in t...

What a slow and uneventful month in crypto…🙄. The contagion from Luna's blow-up brought down 3AC, which continued to wreak havoc across the CeFi ecosystem 🎢. Most of the robust DeFi lending platforms seemed to have escaped, but some almost committed the cardinal sin to survive the fallout -- more on that below. This month we took time to elaborate on some of the not-so-well understood TWAMM concepts & questions we hear in our conversations with customers. Additionally, since we’re in t...

UST lost its peg and caused $60 billion in retail losses 😵‍💫 causing far-reaching DeFi ecosystem damage. TWAMMs probably wouldn’t have stopped the de-pegging of UST, however, they could have mitigated the shock of large-scale asset movement, allowing liquidity to be added and removed gradually. During such turbulent markets, most DEX’s were not able to handle the volume and OTC desks are inaccessible to most retail participants. The image below shows how liquidity was unavailable on DEXs, p...

UST lost its peg and caused $60 billion in retail losses 😵‍💫 causing far-reaching DeFi ecosystem damage. TWAMMs probably wouldn’t have stopped the de-pegging of UST, however, they could have mitigated the shock of large-scale asset movement, allowing liquidity to be added and removed gradually. During such turbulent markets, most DEX’s were not able to handle the volume and OTC desks are inaccessible to most retail participants. The image below shows how liquidity was unavailable on DEXs, p...

The turmoil of the FTX saga has made it abundantly clear users simply cannot trust centralized custodial entities. This is a great time for building fully on-chain DeFi legos instead of inheriting the faults of TradFi for momentary convenience. https://twitter.com/haydenzadams/status/1590354359686397957Future is DeFiAuditable open-source code ensures that there are no secret back doors, non-liquidatable accounts, or misuse of user funds. DeFi protocols are guaranteed by code instead of backdo...

The turmoil of the FTX saga has made it abundantly clear users simply cannot trust centralized custodial entities. This is a great time for building fully on-chain DeFi legos instead of inheriting the faults of TradFi for momentary convenience. https://twitter.com/haydenzadams/status/1590354359686397957Future is DeFiAuditable open-source code ensures that there are no secret back doors, non-liquidatable accounts, or misuse of user funds. DeFi protocols are guaranteed by code instead of backdo...

Hi all 🤙 , another great month of TWAMM R&D. We have continued to engage with potential customers and partners to build a strong ecosystem around our product. After our conversation with the Syndicate DAO team, we are excited to have them come on board as an integration partner. One of the key components of TWAMM is the underlying AMM and the unique advantages each existing AMM provides like Uniswap V3 concentrated liquidity, Balancer pool configurations, and Curve stable swap. We want to bu...

Hi all 🤙 , another great month of TWAMM R&D. We have continued to engage with potential customers and partners to build a strong ecosystem around our product. After our conversation with the Syndicate DAO team, we are excited to have them come on board as an integration partner. One of the key components of TWAMM is the underlying AMM and the unique advantages each existing AMM provides like Uniswap V3 concentrated liquidity, Balancer pool configurations, and Curve stable swap. We want to bu...

This past month we focused on achieving feature completion, making huge strides towards that goal. Highlights include adding efficient vault accounting, oracles, and configurable partner fee distribution. Additionally, we’ve designed an elegant MEV distribution scheme that automatically reinvests rewards into the liquidity pool -- more details below.Big PictureThe “DeFi is eating TradFi” narrative is getting stronger every day as on-chain capital continues to become more attractive for trader...

This past month we focused on achieving feature completion, making huge strides towards that goal. Highlights include adding efficient vault accounting, oracles, and configurable partner fee distribution. Additionally, we’ve designed an elegant MEV distribution scheme that automatically reinvests rewards into the liquidity pool -- more details below.Big PictureThe “DeFi is eating TradFi” narrative is getting stronger every day as on-chain capital continues to become more attractive for trader...