Working to bring Ethereum's public goods ethos to extended platform components via Ethereum Public Goods Infrastructure (EPGi)
Joined September 2018
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This is why DAOs are not the future of corporate governance, and why @EthereumPGI uses rough consensus (like Ethereum and IETF) and not coin votes for governance.
BonkDAO was the target of a malicious governance proposal resulting in an estimated $20M worth of BONK tokens being drained from the BonkDAO treasury.
During the investigation, BonkDAO identified the exchange wallets used to purchase BONK ahead of the proposal. BonkDAO is currently actively working with exchanges, bridges and Solana Foundation to best manage the situation.
Law enforcement has been notified. BonkDAO continues to work with relevant parties to recover funds and identify those responsible.
Readers added context they thought people might want to know
The proposal to drain BonkDAO's treasury passed legitimately after the proposer bought ~$4.4M in $BONK to meet the 1% quorum threshold and voted yes alone, as only 7 wallets participated out of 18,000+. x.com/lookonchain/st… x.com/chainalysis/st…
HuntingIsland — ΞTH 🐬 retweeted
Why did Hong Kong choose an Ethereum L2 that's secured by Ethereum L1 for its first tokenized Gold transaction?
Credible neutrality
Ant Digital's Anvita TaaS platform ran a live transaction pairing tokenized gold with tokenized bank deposits:
Zhaojin Mining issued the gold, China Construction Bank (Asia) handled custody and payments, Bank of East Asia and Jetco were the receiving institutions, HAU used for pricing and the bar transfers were recorded on Ant's Jovay Layer 2
Ant framed it as a digital certificate for physical gold that logs property-rights transfers on a ledger without changing how banks manage gold accounts
Jovay is a permissioned-ish ZK rollup on Ethereum, launched late 2025
Almost no one understands how critically important Ethereum is to the entire global settlement system:
Breaking: Hong Kong Completes First Interbank Tokenized Gold Trade— It’s Happening
Confirms VBL and King Kong’s Framework
substackfwd.xyz/?url=https%3…
HuntingIsland — ΞTH 🐬 retweeted
Like Tom told us - Ethereum is the new Wall Street
"Ethereum to me is the new Wall Street." - Tom Lee
We're seeing the birth of an entirely new credibly neutral settlement layer for the tokenization world we're entering
"Digital currencies (or cryptocurrencies) exist to govern the digital commons, whereas fiat currencies exist to govern the physical commons."- Fidelity
And ETH is the SoV and money of the entire ecosystem, which also pays a native yield
"ETH is a store of value and one of the most important apps on ethereum." - Vitalik Buterin
I think most people FUNDAMENTALLY misunderstand what solana:7vfCXTUXx5WJV5JADk17DUJ4ksgau7utNKj4b963voxs actually is❗
They value it like just another speculative coin.❌
BUT what if ETH is an entirely NEW category of financial asset???
Look at what it combines:
🔹 YIELD: 2.67% annual staking rewards
🔹 SCARCITY: Just 0.86% annual supply growth
🔹 COLLATERAL: $41.5B deployed onchain
🔹 UTILITY: Powers Ethereum and its L2 ecosystem
🔹 SETTLEMENT: A global, 24/7 financial network
🔹 RESILIENCE: Over 11 years of network operation
Think about that for a moment.
Gold offers scarcity, but no native yield.
Stocks can generate returns, but aren't permissionless financial collateral and settlement assets.
ETH combines monetary properties, native yield, collateral utility, and a role in securing global financial infrastructure.
ALL IN ONE ASSET.
And here's where my thesis gets particularly interesting.
As trillions in financial assets eventually move ONCHAIN, demand for these capabilities could grow enormously.
Of course, not every dollar moving onchain automatically creates value for ETH holders.
But I believe the market is still approaching ETH with the WRONG valuation framework.
We're not just watching another cryptocurrency mature.
We're watching an entirely new type of financial asset emerge.
And I think most investors haven't fully grasped what that could mean. 📈
@growthepie_eth @leolanza @fabdarice
HuntingIsland — ΞTH 🐬 retweeted
please if you are in crypto, and *especially* if you are in Ethereum, read this thread
it's a 'nature is healing' moment from Vitalik and is saying so much of what a bunch of us ETH holders have believed for years...even some of the REV maxis from last cycle are having a similar realization now with Zcash
P.S.: I think on fundamentals ETH can be a much better SoV than both ZEC and BTC, though I'm in ZEC now as well...the fundamental question is whether smart contracts are a help or hindrance to SoV (and Vitalik himself lays out the dilemma well below) and there is a bunch of theory around this, but I lean that net/net they are a help because it means you potentially never have to exit that hard-money CROPS ecosystem to use your money privately & keep it private...and *use* means more than just 'spending' . . .
Expanding on why I believe "ETH as store of value (SoV)" makes much more sense to focus on than "ETH as fee-burning token".
Three primary reasons:
1. ETH as fee-burning token never was as strong as it seemed
2. Optimizing for ETH as fee-burning token would demand Ethereum and ETH function in ways that are very hard to make compatible with decentralization and capture resistance.
3. Meanwhile, optimizing for ETH as SoV is aligned with Ethereum focusing on its unique strengths (decentralization and CROPS)
EIP-1559 (including its burn) is fine and good, we should keep them. But we should not feel sad if fee burn is < 10% of breakeven indefinitely; the value of ETH comes from elsewhere.
The core idea: the big thing that people appreciate about Ethereum is decentralization and CROPS. The main pragmatic benefit that these things translate into is stability. SoV is the category where that is not an unneeded extra we merely put effort into for ideological reasons, but rather a pragmatic strength from the perspective of people putting in their assets. And in the era of AI disruption, stability will be highly valued.
HuntingIsland — ΞTH 🐬 retweeted
Expanding on why I believe "ETH as store of value (SoV)" makes much more sense to focus on than "ETH as fee-burning token".
Three primary reasons:
1. ETH as fee-burning token never was as strong as it seemed
2. Optimizing for ETH as fee-burning token would demand Ethereum and ETH function in ways that are very hard to make compatible with decentralization and capture resistance.
3. Meanwhile, optimizing for ETH as SoV is aligned with Ethereum focusing on its unique strengths (decentralization and CROPS)
EIP-1559 (including its burn) is fine and good, we should keep them. But we should not feel sad if fee burn is < 10% of breakeven indefinitely; the value of ETH comes from elsewhere.
The core idea: the big thing that people appreciate about Ethereum is decentralization and CROPS. The main pragmatic benefit that these things translate into is stability. SoV is the category where that is not an unneeded extra we merely put effort into for ideological reasons, but rather a pragmatic strength from the perspective of people putting in their assets. And in the era of AI disruption, stability will be highly valued.
HuntingIsland — ΞTH 🐬 retweeted
JUST IN: 🇪🇺 Europe's largest asset manager Amundi launches tokenized equity index fund on Ethereum.
HuntingIsland — ΞTH 🐬 retweeted
For the first time since 2019, Ethereum will have Devcons back-to-back instead of every 2 years. Next year in Lisbon in mid Oct. Awesome
HuntingIsland — ΞTH 🐬 retweeted
ETH
We looked long and hard at all the other ecosystems out there and found that nothing quite met our specific needs of building the #1 chain for real world assets (and memes too).
HuntingIsland — ΞTH 🐬 retweeted
the Ethereum ecosystem is finally aligning around making ETH be, and marketing it as, a programmable SoV. . .expect to see a lot more of this & the ETFs, DATs, investment banks, etc. are gonna love it no matter what people on "CT" say. . .
HuntingIsland — ΞTH 🐬 retweeted
Two years ago I gave a talk about "native Rollups" that would truly extend Ethereum instead of being isolated chains.
Today at this Devcon we launched RollupX as part of @etheconomiczone that even goes beyond what I had imagined back then! 👇
I was waiting all Devcon for an Ethereum 3.0 vision.
@koeppelmann delivered it. 👏
Native rollups makes L1 execution great again.
Native rollups do not take away from existing rollups - they only add, they rebalance power, they make ETH stronger.
Why don't we do this?
HuntingIsland — ΞTH 🐬 retweeted
Ethereum is actually the new Wall Street and ETH is the new money
"Ethereum to me is the new Wall Street.
You know, in 1971, the dollar went off the gold standard, okay?
Now everyone thought that in 1971 the play was gold, but actually it was not.
In 1971, the dollar became synthetic. It no longer was backed by anything, and that's when Wall Street stepped in and said, "Okay, we gotta make sure that the euro or well the German frank or whatever—German mark or the French franc—doesn't become dominant."
So Wall Street built products to make sure everyone used a synthetic dollar. Wall Street was a big play in 1971.
In 2025, we're making everything synthetic. We are starting with tokenizing the dollar, and then as you know, Wall Street's going to tokenize equities and everything I just listed. Massive opportunity. Ethereum."
- Tom Lee
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 . . .
HuntingIsland — ΞTH 🐬 retweeted
Tbh, the EEZ vision was why I originally bought Polygon and ZKsync
Unfortunately, they couldn't deliver on the mission due to alignment and other issues (including broken promises)
Fortunately, Jordi Baylina kept going and went on to build a coalition of people to create EEZ, which every Ethereum aligned team can support
EEZ is the endgame for Ethereum
Ethereum stops being a collection of chains and starts acting like one system again.
That’s the pitch. The other 49 minutes are in the talk! Watch it, it’s a good one, demos and all :D
And it’s live today. Explore here: build.eez.io/
HuntingIsland — ΞTH 🐬 retweeted
not sure if you have heard yet, but Ethereum is a privacy chain now 🤓
HuntingIsland — ΞTH 🐬 retweeted
EEZ is a huge deal for Ethereum - why?
It makes L1 liquidity callable from an L2 inside a single atomic transaction, no bridge, no second signature
First instance is L2→L1; nested and bidirectional calls come later
Ethereum L1 becomes the "bank vault": execution stays on L2s where gas is cheap, but the L1 state a call depends on executes on L1 in the same block
ETH stays the gas token everywhere in the zone
The devs did something.
Many things, as it turns out.
Not one, but THREE firsts for synchronous composability between a rollup and Ethereum mainnet. @tw_tter and @eduadiez will demo them live on Lotus Stage 1 at Devcon, 13:00 IST.
We even had the devs make their own launch video.
Cast, in order of appearance: @SCBuergel , @antonimarber, @chetnamiittal, @debjitbw, @JesusLigero3, @jbaylina , @turingtestrun, @eduadiez, @filoozom, @epochzer0, @tw_tter , and @0xKenk .
One @ethereum .
Details of the news and the demos in thread. 🧵
HuntingIsland — ΞTH 🐬 retweeted
Bluntly, To all @EFDevcon, @ethereumfndn, & @VitalikButerin critics: Stop whining about shortcomings.
Ethereum is permissionless. No one is stopping you from fixing it. If there's a gap, fill it yourself.
DON'T ASK WHAT ETHEREUM CAN DO FOR YOU.
ASK WHAT YOU WILL DO FOR ETHEREUM.
HuntingIsland — ΞTH 🐬 retweeted
This is such a big milestone, I can’t put into words how amazing this is and how bullish this makes me on Ethereum and L2s.
Synchronous composability has basically fallen back to being considered a myth and is not even talked about much anymore after the bad press that the rollup-centric roadmap received for so long...
It amplifies Ethereum's biggest strengths, and it's a literal front-row ticket to the Ethereumization of crypto.
By letting EEZ chains tap into Ethereum's TVL, it transforms it into an unbeatable liquidity hub and strengthens its network effects. A black hole for liquidity.
If you are building outside of Ethereum's economic zone, you are now most definitely a 3rd-class citizen with a competitive disadvantage that is only growing with each passing day.
You either join the EEZ or you die.
HuntingIsland — ΞTH 🐬 retweeted
When Solana went into L2s, they called them "network extensions" so as to be sure not to give people the impression that ethereum has been on the right track all along. Same with Tempo Zones
For banks, moving onchain has always meant choosing between public and private networks. They'd have to give up control on one or sacrifice liquidity and interoperability on another.
Tempo Zones ends that trade-off. Institutions can issue deposits on a private ledger they control that sits on top of Tempo’s mainnet liquidity.
Within its Zone, a bank operates a performant, enterprise-grade chain running Tempo’s software. Beyond its Zone, the bank maintains low-latency access to the public liquidity and interbank workflows that live on Tempo mainnet.
HuntingIsland — ΞTH 🐬 retweeted
Ethereum isn't a recruitment pitch for young builders.
It's civilizational tech, rails that outlast a TED talk.
These corpo rent seekers will never understand.
Go build your corporate greed machine.
HuntingIsland — ΞTH 🐬 retweeted
No
People need to understand that Ethereum is not a business and Ethereum needs to continue to do exactly the *opposite* of what other blockchains are doing
It’s quite literally the whole point
