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*I use the term Mainnet a lot within this article due to MetaMask calling the RPC that they give you by default which is in fact a shared one provided by Infura; the Mainnet.

“Alchemy Supernode scales every piece of node functionality with dedicated distributed systems and maintains real-time data correctness with a proprietary coordinator service.” — From the Alchemy Website

Picture it like this:The Mainnet is the main street that everyone uses to get to work in the morning, while Alchemy is a super-fast highway that gets you in front of the traffic, yes you pay a little bit extra, but sometimes you’re in a rush and need to get somewhere quickly.

In the world of De-Fi trading, speed is of the essence. With an average block time of 13.4 seconds on the Ethereum network (source: https://ethstats.net), keep in mind that this is under pretty calm network conditions, but in the case of a highly sought after NFT drop or token launch, things are much different. During these times we see thousands of transactions hitting the network causing congestion, blocks will be mined every 1–2 seconds as opposed to 13. This is the use case where you will truly see the difference using Alchemy versus the Mainnet, with Alchemy you will cut the traffic and broadcast your transaction to the network much faster, giving you the best shot at getting into these blocks that are being mined like crazy.

The Mainnet is where the majority of transactions are propagated, regardless of who sends them. This means that large companies and individual traders are putting their transactions out to miners through the network which could lead to unavoidable traffic jams, unavoidable unless you are using your own RPC to put your transaction out as fast as possible! Whereas with Alchemy, you’ll have access to a state-of-the-art exclusive node network with one main mission — cutting to the front of the line.

Now I know this sounds like one giant advertisement, but I can assure you that I am only telling you this because it is a tool that I have personally used for the last year and measured the difference, sometimes being as much as 7 seconds faster. 7 seconds? That’s not much right? It is when it comes to the Blockchain as every single second counts when you want to get in on a hyped-up mint and a gas war is imminent.

Let’s go step by step on how to add Alchemy as a Custom RPC:

The first thing you want to do is to click the circle next to where it says whichever network you are on. For me it says Ethereum Mainnet, clicking this will open a drop-down menu.

From here you click on the button that says Settings next to the cogwheel icon, this will open up your settings menu.

On the settings menu, look down the list and click on Networks and you will be greeted by the Networks menu.

Next, you will see a blue button that says “Add a Network”, you’ll want to click this to begin adding a new custom RPC.

Here is where you can fill in all the relevant details to add your own Custom RPC. When adding Alchemy specifically you will have to look at your Alchemy App Dashboard and click “view key” to find your Custom RPC URL. See below:

The options are as follows:

Name — You can name this whatever you want.Custom RPC URL — This is the HTTP link you copy from your Dashboard.Chain ID — For Ethereum, it is 1.Currency Symbol — For Ethereum it is ETH.Block Explorer URL — For Ethereum it is https://etherscan.io/

If you followed along and completed every step correctly, you will see that your network will now say whatever you named your Custom RPC. This means that you are now on the Custom Network that you just created. Congratulations!

For more information, or support you can join either the Inside Scoop or Alchemy Discord:

Scoop Discord — discord.gg/ScoopAlchemy Discord — discord.gg/Alchemy

Alchemy Website — https://www.alchemy.com/

Written by Birkin@0xBirkin@ScoopComics

Assuming this is the subject here, what it’s contending is — all property has origins in the story of its ownership, and the provenance that creates is especially cogent when it comes to the Intellectual Properties of creators.

From the outset, this assumes there are builders and there are buyers. The stories of the former are evidenced by creations; those of the latter are in the receipts of transactional accounts. Each owns tangible property until it enters the intangible arena where trust in the context of its story is what we’re dealing with here.

So as a practical exercise, for seeing trust as this archetype intangible asset, there is the Living Trust — a story that contains stories that give value to intellectual property. By putting all created property owned or made where what it becomes from here on out is for the benefits of what now identifies as a legacy, consolidates it all into the context of metadata. How that transforms what had been developed previous to the emergence of Crypto and the digital economy affecting trust, into an origin story of funding a Living Trust, is what is going to be analyzed.

All the properties funding this Living Trust are either intangible, as intellectual properties, or are tangible products derived from the development of one of these intangibles. Assessment systems will find no inherent value in them because there are no markets for them. Identifying these properties with a Living Trust to explain their value in a context of making them fit into Crypto is for building a definition of trust around the value of provenance that is stated in a public, Internet medium.

Crypto presents the opportunity to experiment with giving a second life to undeveloped and underdeveloped intellectual properties. For those inclined to create in the conceptual realm, these are the best of times to be thinking like this… especially if, as with myself, there is stuff sitting around, waiting to be monetized.

Most ideas, if original, were ahead of their time. It’s not hard to come up with something the world just isn’t ready for yet. By that standard, there’s plenty of fits into the revolutionary space of Crypto. I chose to examine this with musings on Medium and Steemit about my patents and product developments from the early 1990s, when ICO white papers in the mid 2000-teens looked eerily similar in their intellectual underpinnings.

But it’s what’s in that article the tweets that bookend this piece reference that makes the Living Trust a call to action. Across the board, a common echo of a precognitive relationship with the back story of origins in everything that is happening right now in Crypto space is more than timely; it is transformationally timely. The Living Trust connection for analyzing the purpose of Crypto could well be the metaphor that is the umbrella that all those “deep dives” have been seeking.

Seriously — substitute the words Trustee for a Creator DAO; IP for GPT-3; the back story for the Blockchain. You have a trustless Trust living as your transformer. This is an intelligent, not artificial intelligent, association that links two realities that are due to get a lot more attention real soon.

The next tweet was signaling this by saying:

That says, if you trust in everything you do is growing a legacy, the story of your Living Trust is in the story you allow it to grow into.

In a protocol with just a single cross-collateral pool, listing new assets has to be done very carefully since it opens up the protocol to a new attack vector every time. The entire TVL of the lending protocol could be at risk. For example, Cream Finance has been hacked multiple times for $19M and $130M due to listing assets with non-standard implementations.

SPL tokens on Solana are forced to conform to the SPL standard with no custom behavior possible. This is unlike ERC20 which is a loose standard with countless “ERC20” tokens not properly conforming to the spec. While this standardization saves developers and auditors headaches, attacks are still possible. Consider two examples:

Example 1: POO, an imaginary token with minting controlled by a DAO, is listed on Solend. The POO governance process is subverted, allowing an attacker to mint an infinite number of POO tokens. The minted POO tokens are deposited in Solend and used as collateral to borrow all other available assets on Solend. POO is dumped, bringing the value of collateral to effectively 0. In this scenario, the value at risk is min(deposit limit * POO LTV, available liquidity).

Example 2: POO, an imaginary token, is listed on Solend. POO has low liquidity which makes it easy to manipulate the price. POO’s price is manipulated and misreported as extremely large. Once again, POO tokens are deposited and used as collateral to borrow all available liquidity. In this scenario, the value at risk is simply all of the available liquidity. Note that deposit limits and LTVs don’t help here since even one POO token is effectively worth an infinite amount.

Because of these, we require assets listed on Solend to have reasonable liquidity and access controls if still mintable. Thus, there are many assets that haven’t been listed on Solend yet.

Isolated pools are not a silver bullet! The attacks described above are still possible. However, the value at risk is limited to the isolated pool, rather than the entire TVL of the protocol. You can think of it as a quarantine for risky assets.

This limitation is key, as users can continue using the cross-collateral pool as normal while creating a sandbox for experimental assets.

With isolated pools, Solend can list tons of new assets that haven’t met the bar for the cross-collateral pool. Like Uniswap did for tokens in DeFi Summer, Solend isolated pools unlock utility for the long tail of assets.

We put this concisely in our original pitch deck:

In addition to listing more assets, isolated pools can enable more aggressive parameters. For example, currently the loan-to-value (LTV) ratios of SOL and USDC in the cross-collateral pool are 75%. This means for every $100 deposited, you can borrow up to $75. It’s set to this amount to prevent from taking too much risk that may result in underwater loans which means a socialized loss for all lenders in the pool.

In an isolated pool, LTV could be pushed up to 95%, meaning more capital efficiency for those that can handle it. This would also mean users can take on 20x leverage as opposed to only 4x possible with an LTV of 75%. While not suitable for the average user, more sophisticated users can certainly benefit.

Lenders in this pool could probably expect higher rates, a reflection of the higher risk. Users have to explicitly sign up for this higher risk, higher reward opportunity.

A product for degens, by degens.

This idea has been proven to hold water by Rari Fuse, an Ethereum-based isolated lending protocol with $1B in deposits. They’ve seen incredible success with assets like OHM and FEI, which have very strong communities but aren’t listed anywhere else.

The Solend isolated pools project is underway, with a goal to launch by the end of January. Here’s a sneak peek at a mockup.

Brace yourself, the lending landscape on Solana is about to explode.

Yours truly,0xrooter

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