liquidity fragmentation aficionado
Joined October 2010
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LFG 🔥 get yours @joinfrontier
Need that $100M crate next 👀
You could win up to $25,000 in a single crate.
Season 1 just got three new tiers for traders putting up real volume on @PhoenixTrade & @solflare:
$1M -> Sapphire, up to $1,000
$10M -> Obsidian, up to $10,000
$50M -> Diamond, up to $25,000
stef retweeted
Saturday
November 14th
One day before Solana Breakpoint
You saw what @joinfrontier did in Seoul
We're taking it to the next level in London
See you there
Watching F1 with the @joinfrontier @solflare leaderboard up: why not make an F1 style leaderboard?
A couple of short prompts later:
Crypto twitter: "Wow Astra one-shot my trading strategy and its printing"
My Astra: adamantly only trading against BBO because "deeper levels have worse prices"
stef retweeted
I like blockchain tech quite a bit because it extends open source to open source+state, a genuine/exciting innovation in computing paradigms. I'm just sad and struggle to get over it coming packaged with so much braindead bs (get rich quick pumps/dumps/scams/spams/memes etc.). Ew
stef retweeted
Closing the Software Loop
I've become convinced that it is possible to build a system that improves our core product with a shockingly high level of automation
Wrote down some thoughts on how I expect this to work and the implications
benedict.dev/closing-the-sof…
3m is far from a small validator, but there are other options. Community support systems are emerging with pools favoring ecosystem contributors (@AeroPool_ also has a great validator calculator!).
I also haven't considered @doublezero, @jito BAM (wat is?) or incentives from @harmonic_gg block building system.
Additionally there are some "side-car" solutions emerging (@bulktrade ) although unclear how much that will be worth.
TLDR: The less stake you have, the more private flow you need🙃
Worst performers are losing 0.03-0.04 SOL (usually for 100k stake).
Some assumptions made:
- we charge 0% on inflation and MEV rewards
- have no server costs
- no delegation programme.
- 415.8M SOL staked, 432k slots/epoch, 186.87 epochs/year.
- 0.0184 SOL base reward per slot
- 2.162 SOL vote cost
(because an ecosystem should be healthy without protocol delegation).
> Math and thinking mainly done by LLMs 😉
stef retweeted
How do MMs evolve into alpha-driven behemoths? It's fairly natural:
>C tier: market making without an alpha signal
How can I avoid getting picked off? Find alpha, make a model!
>B tier: market making, avoiding bad trades based on an alpha signal.
What if my alpha signal gets so good that I just want to position myself based on it?
>A tier: trading on an alpha signal. Some of these trades might be liquidity-adding, but this isn't the main intention any more.
>S tier: my alpha signal is too good. I have to avoid monetizing it too fast and leaking my intentions into the market before I can size up too much
(Citadel is here).
Still remember naively skipping past this image in high-school physics, unaware I'd spend the rest of my life looking it up on a weekly basis🤦♂️
