rylucid retweeted
I am excited to be an investor in trade(xyz) as they partner with ICE to bring 24/7 perpetual futures on Hyperliquid to the United States. As a market participant, I am looking forward to to using their innovative product to enhance my investment process.
rylucid retweeted
Introducing: The Origins Trading Card Game Kickstarter
Secure your Kickstarter exclusive items now in the first 100% free digital TCG with cards you can own, trade & sell
panel was extremely sharp and very articulate
well worth the watch
tldr:
even if quantum/AI gets 1000x faster at breaking encryption,
your coins are nowhere near the most valuable thing to crack
and all the world's compute would go from taking centuries to years to crack your keys
Why your coins are safe from AI and quantum: FULL PANEL with @mert @ilblackdragon @zkDragon and @tulipking
1:37 Threadguy explains the cryptography panic
5:29 why cryptography hasn’t broken
9:04 how close is AI to cracking it?
15:39 upgrading chains for quantum
26:30 what if OpenAI cracks cryptography tomorrow?
34:03 AI hacks are the real threat
41:05 why Justin Drake posted bunker mode
51:17 who could actually crack cryptography?
1:06:11 smart contract hacks > quantum
1:09:40 debrief with Tulip King
rylucid retweeted
Honestly so many of you out there deserve a follow back
Thinking about busting that 69 number wide open
Maybe
Like this post for consideration
Retweet it for further consideration
After it's all liked and retweeted I'll take a look and definitely think about it
:)
rylucid retweeted
Last month, the contracts powering Magic Eden were exploited to the tune of millions of dollars. I was lucky enough to be in a position to rescue a good portion of that, but it highlighted the danger of leaving approvals open as adversaries get access to better and better tools for finding holes in contract logic.
Today, Blur announced that they will be deprecating their frontend.
I've investigated Blur and found no exploits within the current contracts. However, the Blur contracts are upgradable, meaning that they could turn malicious at any time.
They currently have eight figures worth of NFTs approved to them. The safety of those NFTs effectively hinges on the opssec of the Blur team, which appears to be disbanding at this time.
If you have open approvals to Blur, I recommend you remove them immediately. Use revoke.cash or similar to ensure that you are protected in case of a contract exploit or later upgrade.
Don't wait. The time is now.
rylucid retweeted
Abstract did the honorable thing.
They could have gone ahead with a TGE and raised a boatload of money from it.
It's what blast did.
Instead they admitted defeat and wound down without a TGE.
Yes people still lost money, but it could've been worse.
Respect for that.
rylucid retweeted
Abstract is winding down 🐧
Igloo is putting 100% focus back on Pudgy Penguins, the NFTs, and $PENGU.
Impromptu Inner Igloo is happening right now in Discord jump in if you’re a holder.
Let’s hear from the team and talk about what’s next.
discord.com/events/864641203…
rylucid retweeted
Abstract is winding down.
Starting today, all of @IglooInc's focus will go towards taking Pudgy Penguins, Pudgy NFTs, and $PENGU to the next level.
When we acquired Frame in the summer of 2024, the vision was to build the blockchain for consumer crypto. Pudgy Penguins had shown us what it meant to reach the masses, and we believed we could bring that same approach to building a chain.
Abstract achieved a lot in a short period of time; we built the Portal and AGW, onboarded major global brands, amassed over 300 million transactions, and grew a vibrant onchain ecosystem.
The journey became stifled by the lack of a DeFi ecosystem, insufficient liquidity, minimal institutional cross-over, and prohibitively high costs that impeded growth in winning areas.
Unknown to most, Igloo, Inc. had been funding Abstract over the last 18 months.
After losing tens of millions of dollars over two years, building consumer products, assembling an all-star team, onboarding some of the biggest brands in the world, and building a community of millions, we still had not found product-market fit.
In combination with the market's reduced appetite for what we had built and not being able to find a scalable path forward, we could no longer justify taking from the Pudgy Penguins business.
Igloo, Inc. has always been a community-first company. Even after losing 8 figures, we could have launched a token or pursued an ICO.
Ultimately we decided against this. A token only works if there is something driving demand to it, and launching a token that we don’t have conviction in would have been a disservice to our community.
The entire team at Abstract has worked tirelessly with a tremendous amount of passion to make the consumer crypto vision come true. I cannot fault a single one of them for this outcome.
To the Abstract community, I want to thank all of you for sticking by our side on this long journey and for continuing to champion us. You supported us through all of the ups and downs, and I wish the result could have been different.
There will be many that will find satisfaction in seeing this shut down, and that is fine. I take a great amount of pride in having the ambition to venture into the chain business, notoriously one of the most difficult to make work, and the only regret I have is not being able to celebrate a win alongside the Abstract community.
As we wind down Abstract, our full focus shifts to making Pudgy Penguins into the global & cultural phenomenon I know it can become.
Return to Pudgy Penguins.
rylucid retweeted
This applies to perps trading too.
Goal is take asymmetric bets.
When you win you win significantly more than what you lose when you’re wrong.
If you only win 30% of the time but when you win it’s 3x your risk, you are profitable.
if you are new and trying to get experience onchain then you need to prioritize keeping losses small
that’s #1 and it’s not even close
win rate is overrated when you’re starting out because you don’t have enough reps to understand what makes coins move yet
big losses are hardest thing to comeback from statistically. there’s lots of gambling/risk math that supports this.
if you already have taken a big loss then either take a break or if you redeposit then wipe your slate clean and stop trying to “make it back”
yes conviction is cool when it pays off
but conviction is not worth it, if it means you have a high likelihood of sustaining a big loss
end of the day, this is a social pvp game where the goal is to buy things that others will buy at higher prices
in this type of game, the best coins will always be the ones that attract the biggest buyers at the highest prices