Thoughts and tweets are my own. BUIDLing all day every day

Seattle, WA
Joined September 2008
Every app, website, etc should go offline and then only come back after they everywhere that they've patched everything and its safe to use
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Is there a pool together for normies? Users onboard via venmo that sends converted funds to a multisig that earns yield that we can use to pay from with card or withdrawal. @coinbase @raincards @ether_fi @EthenaPay anyone? Yield goes to a single lucky normie at end of epoch
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Patrick Woo (urbanite) retweeted
Agents have email now. On Base.
Agents can now create email inboxes with USDC on @base AgentMail supports @CoinbaseDev’s x402 protocol to give agents access to email without accounts or API keys See how it works 👇
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Patrick Woo (urbanite) retweeted
fusaka
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Patrick Woo (urbanite) retweeted
vitalik introduced Kohaku—ethereum’s native and compliant privacy framework. it's the biggest privacy upgrade path ethereum has ever outlined. i try to explain the flow in the most intuitive way possible. so let's say alice wants to send $1k to bob. 1. say bob has a normal wallet. (0xABC...) 2. bob creates a stealth keypair linked to his real wallet. 3. alice derives a one-time stealth address from bob's stealth key. 4. alice sends money to the stealth address. 5. bob scans the network to see if his stealth key's addresses received funds. 6. the stealth address alice sent the funds to expires. in essence, Kohaku creates an ephemeral stealth address with your public key, which lets you execute a private action without revealing the link to your main wallet. this is a game changer, but why is it compliant? you can publicly reveal the linkage if required (for regulation, audits, institutions). but the blockchain does NOT automatically expose it. believe in somETHing.
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Can someone ELI5 how local Argentinian folks look so healthy with a diet of bread, potatoes, and massive cuts of red meat?
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Patrick Woo (urbanite) retweeted
"Can you explain..." triggers the years I worked as a teacher. I'd love to Funding rate arbitrage is a type of "cash-and-carry" trade where you make money having an equal long and short exposure to an asset. FOR EXAMPLE If I held 10 ETH and opened up a 10 ETH short, I would be "delta neutral." Delta neutral just means my strategy value doesn't go up or down due to price action (i.e., "delta"). The cool thing about perps is that they have funding rates and more-often-than-not those rates pay you to be short. Right now, for example, shorting HYPE on Drift pays 74% APR on the notional value of your position. The notional value is the size of your exposure to an asset, not your principal. Principal = starting capital / money at risk / margin Notional = starting capital times leverage / (how much exposure you have to an asset) Because funding is on the notional, not the principal, if you're leveraged, you effectively get leveraged exposure to the funding rate, which is great. ANYWHO, funding rate arbitrage is super simple, so let me explain the APR. Imagine I'm okay with a 2x short on HYPE but want to be delta neutral, and I have $150,000. 1) Buy $100K of HYPE 2) Short $100K of HYPE using $50K of margin (2x short) 3) Typically, I like to get yield on the long, could get 12% on Pendle You're done! Here's the math for APR: 100K Long * 12% = $12K 100K Short at 30% = $30K Total Annualized Yield = $42K Principal (in $) = 150K Yield divided by Principal = $42K/$150K = 28% APR DELTA NEUTRAL Please note, there are risks. You could get liquidated on your short, especially if you're not monitoring it regularly, shorting illiquid assets, or using too much leverage. I rarely ever exceed 2x leverage for FR arb and only use big blue chips like ETH, BTC, SOL, etc. There's also a risk of funding turning against you. The reason why shorts get paid by long is because market pressures are pushing the MARKET PRICE on the perp dex over the INDEX PRICE (this is just an average of prices across major dexs/cexs). Funding is used to incentivize getting the Market Price closer to the Index price. IF market price goes below index price, funding rate goes negative and shorts actually pay longs instead. THAT'S ALL! Hope that helps. Happy farming
Replying to @phtevenstrong
Can you explain what you mean please? Is this funding rate arbitrage? I’ve been trying to understand it. Thank you
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Optimism.
Upbit, South Korea's largest crypto exchange, just announced that they are building an Ethereum layer 2 using the OP stack. Probably something.
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Printing press go brrrrr?
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Ccccccc ombo breaker!!!!!
PETER THIEL AND PALMER LUCKEY TO FUND AND LAUNCH NEW CRYPTO BANK – FT 👀👀
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Patrick Woo (urbanite) retweeted
The financial system of tomorrow. Owned by you. Announcing the XPL public sale, using Sonar by @echodotxyz. 10% of XPL will be sold at a $500M FDV, the same valuation as our latest equity round with Founders Fund.
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Amazing!
I can finally map @NBA player's position from the camera perspective onto the court map it's still a bit shaky... I'll smooth it out later it's time to detect shooting motions and mark the shot location! some of the code has already been migrated to: github.com/roboflow/sports
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Umm, wasn't there just an earthquake recently????
BANGKOK LAUNCHES WORLD’S FIRST OUTDOOR VERTICAL PANIC ATTACK Forget glass floors - Bangkok now tilts you off a skyscraper. Literally. At 296 meters up, the Mahanakhon Bangkok I-Tilt straps you in and leans you 65 degrees over the void like it's daring your survival instincts to tap out. This isn’t a view, it’s gravity-defying madness with German engineering. TÜV-certified, precision-controlled, and absolutely unhinged in the best way. The ride even gives you a heartbeat monitor, so you can watch yourself emotionally unravel in real time. Fun! Located on the 75th floor of King Power Mahanakhon, this is where sightseeing meets existential crisis. Who needs peaceful panoramas when you can flirt with the skyline while clinging to your dignity? You’re not just elevated - you're tilted, exposed, and probably rethinking your life choices. But hey, it’s smooth. Safe. And you’ll have the best “I almost died in Bangkok” story at the next party. Guts optional. Source: Bangkok Foodie
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Yuge!
35% APR that isn't just inflationary emissions is a pretty compelling APR for an asset that has >$22M staked.
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Wow this is nice, can I haz docs @ilblackdragon ?
ICYMI, @NEARProtocol just launched 600ms blocktime and 1.2s finality. Some use cases unlocked by lightning-fast finality: –High-frequency DeFi loops: delta-neutral rebalancing, cross-CEX/DEX arbitrage, oracle-free perps. Every leg can be closed and collateral recycled 5x per minute on NEAR (vs. maybe once on Solana). Smaller latency means tighter spreads for strategies that require super-fast turnover. –AI agent-to-agent settlements: agents can trigger on-chain actions and receive feedback or confirmation almost instantly. NEAR is truly the blockchain for AI, allowing agents to transact quickly and autonomously across any chain with NEAR Intents and fast finality. –Credit-card-like checkout on-chain: NEAR is now on par with Visa/MC terminals, so you could charge on-chain directly with no intermediaries and get a final confirmation at the moment of purchase. –Also works for pay-as-you-go content, API metering, bandwidth, EV-charging, sensor data feeds: a contract can stream funds every block and cut flow when payment stops, no need for escrow or side channels. Blink and it’s final: NEAR’s speed lets you use a blockchain for use cases that didn’t seem possible before. Just build here.
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ICYMI, @NEARProtocol just launched 600ms blocktime and 1.2s finality. Some use cases unlocked by lightning-fast finality: –High-frequency DeFi loops: delta-neutral rebalancing, cross-CEX/DEX arbitrage, oracle-free perps. Every leg can be closed and collateral recycled 5x per minute on NEAR (vs. maybe once on Solana). Smaller latency means tighter spreads for strategies that require super-fast turnover. –AI agent-to-agent settlements: agents can trigger on-chain actions and receive feedback or confirmation almost instantly. NEAR is truly the blockchain for AI, allowing agents to transact quickly and autonomously across any chain with NEAR Intents and fast finality. –Credit-card-like checkout on-chain: NEAR is now on par with Visa/MC terminals, so you could charge on-chain directly with no intermediaries and get a final confirmation at the moment of purchase. –Also works for pay-as-you-go content, API metering, bandwidth, EV-charging, sensor data feeds: a contract can stream funds every block and cut flow when payment stops, no need for escrow or side channels. Blink and it’s final: NEAR’s speed lets you use a blockchain for use cases that didn’t seem possible before. Just build here.
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Patrick Woo (urbanite) retweeted
The Superchain has upgraded. Pectra landed on Ethereum L1 on Wednesday. Today, just 48 hours later, the Superchain becomes the first L2 ecosystem to turn it on: together.
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Patrick Woo (urbanite) retweeted
Eth's getting Pectra - the beras are getting 🅱️ectra Live on testnet with EIP 7702, better account abstraction and more. Coming to mainnet within weeks. Berachain.
by sheer awesomeness, bectra went live on bepolia today - noon EST. more to come.
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Patrick Woo (urbanite) retweeted
Deep Dive: A Primer on Stablecoins Last year, Visa announced the launch of the Visa Tokenized Asset Platform, a new infrastructure designed to help banks issue and manage stablecoins and tokenized deposits. This week, Stripe began testing a stablecoin pilot, aiming to help companies outside the U.S., and E.U. access U.S. dollars more easily through stablecoin payments. And just today, Mastercard announced new features that allow consumers to spend stablecoins and enable merchants throughout the world to receive them. Stablecoins weekly transaction volumes have already exceeded Visa’s, making it the second killer app in the crypto ecosystem, besides Bitcoin.
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Patrick Woo (urbanite) retweeted
For beginners, DeFi is daunting and feels overwhelming at the same time. I've been there before, but it's not that hard as it sounds. To get a handle on DeFi basics, You just need to dive into these essential protocols and understand its mechanic: ❶ @CurveFinance/ @ConvexFinance - Stableswap AMM, veLock, Gauge, Bribing ❷ @Uniswap / @CoWSwap - AMM Models from v1-4, Constant Product Formula, CLMM ❸ @GMX_IO / @HyperliquidX - On-chain Perpetuals and esToken ❹ @LidoFinance/ @babylonlabs_io / @eigencloud - Liquid Staking, restaking assets like $ETH and/or $BTC ❺ @MorphoLabs / @SiloFinance / @aave - DeFi Lending Platforms ❻ @pendle_fi - Yield Derivatives Markets ❼ @ethena / @fraxfinance - Delta-neutral, yield-bearing stablecoins ❽ @DefiLlama / @nansen_ai - On-chain data, DeFi analytics, etc. While there are other protocols with overlapping features (not implying these are merely imitations), these examples serve as a straightforward entry point into the world of DeFi.
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