@eth_skillz | Independent Ethereum coverage & commentary
Ethereum
Joined May 2021
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liam retweeted
Glad to see core devs and researchers take any time that's needed to get glamsterdam ready. The next few years are going to be incredible for ethereum. We'll go postquantum, add native privacy for ETH, and massively increase L1 TPS and the blob target. All while L1+L2 hypergrow.
liam retweeted
This weekend we launched EthLib, a Lean4 library for Ethereum!
The goal is to bring Ethereum's primitives, specifications and theorems into one place, building a shared foundation for formally specifying and proving things about Ethereum.
github.com/ethereum/EthLib
liam retweeted
It’s best to think about these positions as pETH/pAsset LP positions in a way
The ratio of collateral and debt will continue to change due to peg buys and redemptions but you will continuously slurp fees and pETH incentives
Become a decentralised asset backer with Polaris
Negative debt will finally be a thing (yes you read that right).
Collateral-only positions will let you deposit pETH into any pAsset market with zero debt at the start.
From there, debt moves with the health of the whole market, fed by peg arbitrage fees and higher-leverage positions.
If it ends up below zero, the difference is minted straight to your wallet in the pAsset you chose.
You never borrow a thing, and you can still walk away with pAssets on top of your pETH.
liam retweeted
Polaris works a lot like an MMO (Massively Multiplayer Online for the non-nerds).
Everyone plays in the same world but everybody can play a different game.
If you prefer PvE, you swap ETH into pETH and hold it, and the floor grows while you get on with your day.
If you like to min-max, you loop fpETH without liquidation risks, so you push the build without the risk of losing it.
If you want PvP, you trade vpETH against people who read the pETH premium differently from you, long or short.
And if you want hardcore full loot, you deposit USDp in the Earn Pool and wait for the next liquidation to be collected.
Whatever you pick will grow back fees that flow into pETH in any case.
liam retweeted
Another day, another bridge 🫨
From my perspective these developments are mostly good, the market is pushing latency and costs down, and this is the result of clear demand for crosschain operations. The multi-chain world is undeniable.
On us to ensure that Ethereum's security and liquidity are the easiest, cheapest and fastest to export, so Ethereum users and assets reap the benefits of broader use cases and distribution.
Introducing the fastest crosschain swaps on the market. Crosschain transactions on @fomo now land in <1s.
A week ago, we rolled out our own internal bridge to a small % of users.
Public rollout of fomo bridge begins now.
liam retweeted
Core developers decided to delay the upcoming Hoodi hard fork on today's ACDE call.
Refer to this blog post for further details and be sure to watch for any client releases pertaining to your infrastructure on Hoodi.
blog.ethereum.org/2026/10/22…
Everyone is talking about AI, yet the future of DeFi is right in front of us.
Collateral-only positions that will pay you out yield (through multiple streams) by simply sitting idle.
Can't wait for the @polarisfnd launch.
Negative debt will finally be a thing (yes you read that right).
Collateral-only positions will let you deposit pETH into any pAsset market with zero debt at the start.
From there, debt moves with the health of the whole market, fed by peg arbitrage fees and higher-leverage positions.
If it ends up below zero, the difference is minted straight to your wallet in the pAsset you chose.
You never borrow a thing, and you can still walk away with pAssets on top of your pETH.
liam retweeted
I talk a lot about pETH and the pAssets
But not enough about POLAR
Unlike most of defi, POLAR will have an immutable guarantee of value accrual paid in USDp and GOLDp to sPOLAR lockers
This split can be voted by stewards above the minimum, but it can never go below
liam retweeted
I made a visualization of EIP-8288 aka "recursive mempool aggregation," my new favorite EIP of all time because it perfectly encapsulates the thesis of the "cryptographic world computer" -- a system whose scalability *increases*, not decreases, with the level of decentralization.
In a previous tweet I explained how EIP-8288 achieved this seemingly impossible feat, but one gif is worth a thousand words.
Essentially, EIP-8288 leverages Ethereum's decentralized mempool as a parallel ZK proving cluster. Clients send signatures and proofs to the mempool, which over multiple rounds progressively aggregate them into fewer and fewer proofs, until the block builder finally aggregates them into one SINGLE proof.
This design accomplishes five things at once:
- The more nodes we add to the decentralized mempool, the more signatures/proofs Ethereum can process as a whole. This is obvious if you look at the animation and imagine more nodes in the mempool ring, which would "fan out" to more signatures/proofs.
- By aggregating over multiple rounds (aka "recursive aggregation"), the bandwidth consumed by proofs remains constant for each node even as the network processes more proofs. As a result, the network stays decentralized even as capacity increases.
- By aggregating proofs before one final aggregation by the builder, as opposed to requiring the builder to aggregate everything, the network can process more proofs without increasing hardware requirements for the builder.
- By aggregating everything to a single block-level proof, validators can verify thousands of signatures/proofs by checking just one aggregated proof. Hardware requirements for validators can therefore stay low, keeping the network decentralized.
- By aggregating not just native signatures but also STARKs, Ethereum can support any signature scheme by wrapping them in STARKs.
So once again, this is how Ethereum will:
- scale to process tens of thousands of PQ and private transactions per second
- charge a tiny amount of gas to validate each txn, even though the original signature/proof may be huge (up to hundreds of KBs in size)
- all while decentralizing even MORE.
You are not bullish enough.
Ultimately, precompiles and EVM are both the wrong place to put most cryptography support into Ethereum. The reason is that precompiles and EVM both operate on data that has to be included into the ethereum chain somehow, which realistically means included in a block as calldata. That space is limited - even with PeerDAS and blocks-in-blobs, there's a practical cap of ~8 MB/s before it starts getting uncomfortable.
Remember: it's not a blockchain. It's a cryptographic world computer. Any data/computation that does not need to be in the "main thread" of data/execution should not be put into the main thread.
Instead, the correct solution is... EIP-8288 maximalism.
If you have any heavy computation that's self-contained, compute it and STARK it client-side (this is quickly getting faster and faster, even on phones), and push the STARK through the EIP-8288 recursive aggregation mechanism. The chain sees the fact that the computation was done and what the result is; it never needs to see the actual data and computation.
This way everyone can use whatever cryptography they want, the Ethereum chain can be lean, and we never need to add more precompiles again.
liam retweeted
One deep liquidity venue that can never be replicated
This is a huge moat for Polaris as the network effects of bonding curve liquidity + the floor price creates something that cant be forked
This is why pETH becomes the perfect asset to back synthetic assets
liam retweeted
Ultimately, precompiles and EVM are both the wrong place to put most cryptography support into Ethereum. The reason is that precompiles and EVM both operate on data that has to be included into the ethereum chain somehow, which realistically means included in a block as calldata. That space is limited - even with PeerDAS and blocks-in-blobs, there's a practical cap of ~8 MB/s before it starts getting uncomfortable.
Remember: it's not a blockchain. It's a cryptographic world computer. Any data/computation that does not need to be in the "main thread" of data/execution should not be put into the main thread.
Instead, the correct solution is... EIP-8288 maximalism.
If you have any heavy computation that's self-contained, compute it and STARK it client-side (this is quickly getting faster and faster, even on phones), and push the STARK through the EIP-8288 recursive aggregation mechanism. The chain sees the fact that the computation was done and what the result is; it never needs to see the actual data and computation.
This way everyone can use whatever cryptography they want, the Ethereum chain can be lean, and we never need to add more precompiles again.
> we could still ultimately do Lattice stuff for accounts, wallets, etc. through a precompile if it is proved to be AI-secure
The ideal route to support everyone's cryptography is imo through 8288. You make whatever signature you want locally, then STARK it, and then it gets included through the stark aggregator machine. Don't need any calldata onchain. Ethereum can then never add a new precompile again.
pETH is one of the most interesting DeFi assets I've come across in years.
One of the coolest things about @polarisfnd pETH is that it is protocol-native-liquidity.
Depositors can move between ETH and pETH without depending on external liquidity parties whatsoever.
Bob wanted to try out testnet.
So Bob deposited pETH and minted USDp a couple months ago.
Since then he hasn't touched it once, and the Mint Position (what people would usually call a CDP) has grown by 253%.
First, his pETH collateral went up 74% while ETH moved 3.6%.
Second, the collateral kept earning: peg arbitrage fees, pETH yield and the Protocol Safety Rate all flew back to it.
Third, the debt barely mattered because the interest was covered 109 times by yield.
This is testnet money, but still the testnet so far is showing exactly how the protocol works.
Most CDPs rely only on external collateral to offset interest rates. But here the yield is produced by several streams, so every mint position earns like a strategy on autopilot.
liam retweeted
News: JPM Coin (JPMD), @jpmorgan's USD deposit token, is now live on @ethereum.
JPMD extends from Base to Ethereum L1, giving institutional clients native onchain cash that sits alongside the assets, collateral and counterparties they transact with already.
J.P. Morgan has now added a cash leg to the products it already live on Ethereum mainnet, with tokenized money market funds MONY and JLTXX both already on the network.
Ethereum is the home of onchain finance.
liam retweeted
Permissionless Bonds are live!
We just minted the first onchain convertible note, and now you can too!
A new defi native primitive for yield or leverage.
Leverage is very cheap for early bonders!
