⟠ DeFi super-user, educator, angel 🎙️ Host/Producer of The @Edge_Pod 📰 Subscribe to newsletter & pod: https://nitter.cf/t.co/Pm9e0APe9B 📺 Watch on: https://nitter.cf/t.co/txxZZAhqsW
Joined May 2018
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🎙️ New @Edge_Pod
🥷 You Know Zcash, But Railgun Lets You Use Any Asset Privately Across All Ethereum DeFi
0:00 - Intro
1:55 - Why privacy matters
4:18 - What is Railgun?
5:50 - How to do a private swap with Railgun
9:42 - Railgun is like a safe, but not a mixer
12:47 - Common uses of Railgun
16:50 - The privacy set problem explained
20:00 - Is Railgun similar to an L2?
23:48 - Balancing act of unstoppable access
25:49 - Railgun vs Zcash differences explained
30:47 - Which apps can I use with Railgun?
33:25 - Wallet-level privacy vs app-level privacy
41:41 - Railgun’s relationship with the EF
47:43 - Will privacy be optional?
52:16 - RAIL token: staking, governance, and yield
54:32 - Closing
🙏 Thanks to @RAILGUN_Project Privacy Researcher @tsu_kareta for joining us!
DeFi Dad ⟠ defidad.eth retweeted
The “Bitcoin sweater guy” barely owns any Bitcoin. His store of value is ETH, and his reason is about community, not price.
“Even if I’m the Bitcoin sweater guy, I actually don’t own a lot of Bitcoin. The upside of Bitcoin is not as good as the upside of other liquid assets.”
“What makes the value of a company is its product and revenue. What makes the value of a token is its community. And I think the Bitcoin community became really toxic and did not really wanna evolve over time.”
“We’ve seen quantum stuff happening recently. Is the community that’s now leading Bitcoin ready to work on Bitcoin to make it quantum resistant? Do we need that? I don’t know.”
“I have an exposure to Ethereum because I see it as being the Internet, but I don’t see Ethereum at 30k. The Internet is not worth something. What’s built on it is worth a lot of money. So I see my store of value being Ethereum over time, more than Bitcoin.”
ft. @mbaril010 of @OctavFi, @DeFi_Dad & @Nomaticcap
Orbio = Tokenized inference markets + private inference
If you're looking into inference capital markets, AI credit, and private inference, @orbiodotso should be top of your list. We discussed it on a recent @Edge_Pod with @zeroxkyle.
At the time of recording, we were anticipating this new launch, now live.
Note: Since recording, I got long robinhood:0xaa07a0e9209e16ac99708c3ec70159c6ef3128a3.
Orbio's next chapter starts today.
From a marketplace for AI credit to the front door of private AI.
Every major model in one chat. Turn on Private and your message is encrypted in your browser and opens only inside a verified enclave. Nobody in between can read it. Private runs on open models, uncensored ones included.
It's an agent too. It searches, runs code, ships sites and sends email. Its thinking stays sealed.
First $2 on us, for everyone.
DeFi Dad ⟠ defidad.eth retweeted
Orbio becomes a direct VVV competitor with this update
And the market likes it with $ORBIO shooting up 35%
Orbio's next chapter starts today.
From a marketplace for AI credit to the front door of private AI.
Every major model in one chat. Turn on Private and your message is encrypted in your browser and opens only inside a verified enclave. Nobody in between can read it. Private runs on open models, uncensored ones included.
It's an agent too. It searches, runs code, ships sites and sends email. Its thinking stays sealed.
First $2 on us, for everyone.
DeFi Dad ⟠ defidad.eth retweeted
you bafoons sold ethfi into the depths of hell today when they just closed their highest revenue week since launching the neobank
and it's not even black friday yet
same revenue as lighter at 1/6th the fdv
anyway, dcf cap bought more... expecting to be able to sell it for higher going into the next investor call and q4 holiday spend
My TL on zcash:native is so bipolar right now.
I see calls for it being “cooked” short term and others saying it’s about due to rip some god candles.
I’m sure the market will find a way to prove both tragically wrong.
The real curse is I personally longed some ZEC, finally.
I apologize for the pain the crypto gods will likely inflict upon this token for my longing it 😅
The S&P has been higher 12 months after all 19 midterms since 1950.
bitcoin:native was higher 12 months after each of the last three midterms, but its lows came weeks days after the vote.
Recorded this yesterday, the day after the midterms, with @andyyy and @robbieklages from @therollupco joining us for a special post-election @edge_pod on what to expect in crypto.
I think most of what we covered still stands but of course today was a punch in the gut. Anyways, hear why Andy's fully allocated (so are we) and stay tuned for the full pod shortly.
🙏 Check out our clip sponsor @AxisFDN, printing 15% APY for sUSDx holders the last 30 days.
DeFi Dad ⟠ defidad.eth retweeted
An AI audit found the worst kind of bug a zero-knowledge protocol can have. Zcash patched it before anyone knew.
“I did a bunch of AI-driven audits of different parts of the Zcash code. Basically, every time a new model comes out, run a standard set of queries across the Zcash codebase.”
“Opus 4 comes out from Anthropic, and then finds the worst… what is called, in the parlance of zero-knowledge, a soundness vulnerability.”
“It’s a very benign-sounding term for basically the worst possible vulnerability you could have in a zero-knowledge proof protocol, which is you can forge a proof, and therefore you can create money from nothing.”
“So it got patched fairly quietly, and then after it was patched, Zooko wrote a blog post… this is what this vulnerability meant and how bad it could have been.”
ft. @zmanian, @sudo_ml, @DeFi_Dad & @Nomaticcap
Investors looking at Leopold's first blow-up in July, deciding to double-down in SA's latest raise
youtube.com/watch?v=Po4adxJx…
DeFi Dad ⟠ defidad.eth retweeted
1/ An 8-fig whale just promised $500K into USD3, earning 40% APY on the stake, or +3% APY on the full promise ie. capital he has *not even* deposited yet
DeFi has always run on 100% reserves. Users are running fractional reserves for the 1st time, whether they realize it or not
If you're a $HYPE holder, you need to plan ahead for the subscription period for d2HYPE vault by @D2_Finance in December.
The window to deposit will reopen in late December or early January I think but these guys just keep performing epoch after epoch.
I've paid attention long enough to know @D2_Finance is provably one of the few institutional-grade vault yields, backed by derivatives strategies onchain (including options on Derive) that's returning epoch after epoch, all with verifiable AUM onchain, and mandatory unwinds every 30-90 days to protect depositors and verify the assets and yield are performing as reported.
Note: I am not an investor in D2 (but by now I'm gonna have to deposit into these vaults myself too). You can learn more about d2HYPE and other vaults on D2 here: D2.d2.finance/strategies/52
Global Macro Epoch 1 conclusion + new epoch ✅
📊 +6% net, after paying more than 10% in funding. Gross on the book: north of +16%.
GM trades the directional signals from HYPE++ outright, one hard rule: 10% loss limit per epoch. Epoch 1 ran $100K as a test. Apart from the momentum signals, nothing was optimized.
Volatile by mandate:
◼ Gains came early on Korea flow, same as Kimchi. Peak around +17-18% in early September
◼ Then stopped out roughly 10 times in a row. Back to slightly negative, inside the 10% limit
◼ Rebuilt the P&L in October when the opportunity got interesting again
------
The dark side
Our other strategies run trades of 2 to 60 days, where execution and net funding wash out. HYPE++ usually receives funding on @HyperliquidX. GM plays the 30-minute to 72-hour frame at higher leverage, and funding ate more than half of the edge.
What changes: the next short epoch stays the same. Later iterations add Pendle Boros, the funding-rate market, which benefits from exactly what hurt GM here. Boros liquidity is still too small for scarce PM time on its own.
------
📅 Global Macro next epoch
• Deposits: open now
• Trading starts: Nov 5
• Epoch ends: Nov 20
• Cap: 100,000 USDG
Two weeks, plus up to 30 days of tactical.
After the short epoch we will most likely split the GM signal in two: GM 2.0, and Overnight Edge, whose goal is to beat $SPX on a risk-adjusted basis by taking advantage of 24/7 markets.
We stay liquid. Fade D2 at your own risk.
The tokenized STRC markets in DeFi were the first inning of proving demand for composable RWA yields onchain. Stablecoins have been the ultimate proof of demand for tokenized dollars and fiat onchain.
eg. apyUSD is backed by a mix of Tbills + STRC
@apyx_fi apyUSD earns a variable ~14.4% APY
But with the 1-click @pendle_fi PendleLoop, you can lever up variable rate yields like this to amplify the underlying STRC yield (and tbill yield).
For apyUSD, given the 6.43% borrow rate on Morpho, I can max lever 7.3x to get to 62% APY (not recommended, NFA) but if you opt for even lower 5x leverage, that works out to:
(14.4% deposit x 5x leverage) - (6.43% borrow x 4x)
=46% APY
Excited for what other tokenized RWA yields might come onchain next and benefit from DeFi composability. STRC onchain liquidity has tons of room to grow but it's more of a PoC for how investors will do more with real world yields onchain.
🔗 PendleLoop for apyUSD: app.pendle.finance/trade/loo…
Note: NFA, DYOR
$apxUSD lenders are eating well this week 🍽️
🔴 $apxUSD against PT-apyUSD (Nov 5): 13.49% APY + 100x Pips
🔴 Hyperithm $apxUSD Vault: 12.55% APY + 100x Pips
🔴 $apxUSD against $apyUSD: 11.67% APY + 100x Pips
🔴 $apxUSD against PT-apxUSD (Nov 5): 7.93% APY + 100x Pips
Double-digit yield and 100x Pips across the board. Looping takes it even further. 🔁
Find your next position 👇
app.apyx.fi/discover
DeFi Dad ⟠ defidad.eth retweeted
He moved ~$300k into Uniswap pools on Robinhood Chain the week tokenized stocks launched. Two weeks later: ~$75–80k in fees.
“I love Uniswap LP. That’s where I make a lot of my money. And I was like, okay, is there any stock on Uniswap right now? And it just launched. I think it was the first week or even the first day.”
“We moved a lot of our capital into Uniswap, providing liquidity to NVIDIA and Tesla and S&P 500, all of the tokens that we could see some volume on. We opened pools at, like, 3, 4, 5%, because we’re the first one.”
“We knew it was, like, 1, 2 weeks. We moved something close to 300k. We did something about 75 or 80k in, like, 2 weeks.”
“When we created the pool at 3%, some people came and said, well, why 3? If I put 1, I’ll be more capital efficient. And slowly over time we saw our return going down really quickly, which was expected. And so we removed all of that from Uniswap.”
ft. @mbaril010 of @OctavFi, @DeFi_Dad & @Nomaticcap
sUSDx yield is currently printing ~15.5% APY
But one can lock in 17% fixed with PT-sUSDx on Pendle
The PT yield is higher and fixed for the next 27 days
Swap into the PT-sUSDx on @pendle_fi: app.pendle.finance/trade/mar…
This bull run will be the first where onchain options contribute meaningful volume to the price action of majors like ETH, BTC, ZEC, and HYPE.
Then, consider the growth of RWAs trading onchain like gold, already live on Derive with XAUT options.
DeFi Dad ⟠ defidad.eth retweeted
Didn't even trade a single $ETH option today on @DeriveXYZ.
Good to see how strong the $DRV growth story still looks after growing so much this year.
$1b notional volume days will become normal in 2027, especially with more RWAs.
DeFi Dad ⟠ defidad.eth retweeted
ETH really needs concerted marketing as machinic SOV . . . just go all-in on that, market the asset itself. . .
ETH is our best "sanctuary tech"
esp. + Railgun + Kohaku + Ambire + Aztec
yet leaders promote every other "sanctuary tech" instead, I don't get it. . .
ETH literally is the product and needs to be marketed directly and explicitly--yes, "shilled"
verifiable compute is super interesting but doesn't make ETH super investable. . .
...who in 2026 is interested in investing into a bleeding-tech notary service? . . .
. . . very useful but doesn't excite anyone, especially investors. . .
& if ETH doesn't take off I doubt Ethereum's use for verifiable compute will dominate either as the ultimate security for that is ETH's value . . .
DeFi Dad ⟠ defidad.eth retweeted
KPK are at the top of their class amongst curators.
Their automation and risk parameters now have many provable onchain instances of protecting user capital.
Also, did you know they're constantly running red team operations internally on each other to harden emergency protocols?
They've set the curator bar high and glad to have them powering @edge_pod 🫡
Security is hard to prove in advance.
When the largest crypto hack hit @binance last week, KPK’s automation stack fired exit transactions seconds after its @HypernativeLabs alerts triggered
Deep dive into what happened and how KPK compared with other curators
