Shorted BTC at $10K || Video editor · Dune Wizard · Onchain detective
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Joined April 2021
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odbtc.sol retweeted
Arcus is 2 weeks old. Where we are:
→ $33M total volume (hit $10M in a day)
→ $13M spot vol / 3,247 traders
→ $20M perps vol / 100 beta testers
→ 70K+ perps waitlist
→ $15M TVL — 3rd largest on RH Chain
→ 100+ stock tokens trading 24/7, memes live on spot
→ liquid books
We're still so early, fam. 🫡
@arcus_xyz @RobinhoodCrypto
odbtc.sol retweeted
personal update:
after nearly 2 years across community & marketing, my time at @wormhole comes to an end
started from CM and worked my way up to Sr. CM and then to ecosystem marketing along with @Maylor_Moon
learnt from some of the best peeps in this space and got to work with protocols at an infra level was definitely a lot of fun
some personal fav moments:
- got immense love from all the fellows from Day 1
- bullied Tegu with a fat cat nohornt army
- sent too many borderline nsfw jokes w/ the rifters
- pushed the @Worm_Alt acc
- went from a community role to a marketing one with everyone pushing me to do so
- worked with some amazing amazing partner protocols including @sunrise and @mayan
what's next?
after taking some time off, i'm actively looking for new marketing opportunities
still bullish on this space and sectors like tradfi x crypto, tokenization/RWAs, infra layers, and specific L1/L2s
in the meantime, i'll be bringing this acc back from the dead, shitposting, playing with claude code and in rare occasions, dropping in some random gcs
to all the rifters, wardens, spaceworms, ascendants, and fellows
we shall vibe again v v soon 🐈🐈🐈
odbtc.sol retweeted
I have a very sad news to share. Yesterday I got hacked for $31k which was my earnings for the last few months.
I lost it all in a few minutes. It was my mistake that I fell prey to one of the most sophisticated attack vectors. I guess that's what desperate times make you do.
I will share more details once I feel a bit better & have absorbed this event nicely so that more people on CT are aware of this attack vector.
It's so sad to see that this potentially booming industry is filled with scammers.
Stay SAFU.
odbtc.sol retweeted
retention charts are live on flowscan.xyz/builders✨
want to know how well apps on Hyperliquid retain their users? Or how many of them stay active after a month or two?
we got you covered🫡
odbtc.sol retweeted
If you’re in crypto but are laughing or shrugging off the Tea app doxx you should reconsider the industry you’re in
Satoshi was anon for a reason, privacy is everyone’s right.
odbtc.sol retweeted
as a 25 yo founder, I spent the last 3 years building in silos, scaling the team to 30+ rads across 17+ countries and a 7 fig bootstrapped revenue gen company; something I could never imagine wen I was getting started.
it's always the little things that compound to larger impact. this is my love letter to all those who had my back all along. 💚
allow me to reintroduce @radarblock
odbtc.sol retweeted
Update on GAMMA:
- This week we are doing devnet testing, next week mainnet testing
- After mainnet testing we will open source it all!
- Expect a beta launch in ~2 weeks
- With our tokenomics, LPs who are also $GOFX stakers will suffer less impermanent loss due to rev share
odbtc.sol retweeted
Update on SSL Phase 3
Finishing up all the rust code implementation this week and handing over to DEX aggregators for integration. With Phase 3 we are trying a semi non-oracle approach:
For this approach, we would only use oracle prices to
1. Know when to start quoting when the algo turns on
2. To adjust risk: ie if the oracle price is way off from our quote, we will pause
Otherwise, to quote, we will:
1. Determine how much a potential swap will balance/imbalance our pool and price accordingly
2. Use our own trade volume to determine how wide or narrow to quote
3. Similar to scalping algorithm, but different in that we don't necessarily choose the size of the trades on our end. We accept or deny user's trades, and they pick the sizes
In the meantime, we are cooking up something secret to start gaining more volume on non bluechip tokens (i.e. memecoins)..stay tuned
As always, we are doing what hasn't been attempted in all of crypto, so patience is a virtue when you are breaking through infinity 🫡
odbtc.sol retweeted
Advice to founder/CEOs in the space.
Literally ignore everything and everyone and focus on building an amazing product. On the back of an amazing product fundraising, BD, and everything else becomes 100x easier.
I've never done a ton of conference circuit. Hadn't been at a conference for months prior to EthCC and won't be at one again for months more until the fall. Most of the people you see at every stop of the circuit should be an auto red flag and most likely means they care more about partying than building.
When you are at conferences, use the time to catch up with people you care about and share same vision of the future as you. I value an evening with @SmokeyTheBera & @hotpot_dao at a factor of ~1000x over attending a generic event with 300 people I don't know or random party.
Also, panel-mania is real. Most panels are pretty low value. Think the space is doing this incredibly wrong atm and it's optimized more for sponsorships (give them a panel spot!) and selling tickets than any sort of real value. Panels should either be much longer with focused topics or much less people. Debate heavy is better. I thought @EspressoSys/@benafisch did an amazing job with curation (although not nearly enough time to really dig into the weeds which that panel definitely could have done)
I talked to some CEOs at ethcc and got the intuition that being a CEO is the most non-fun role at the crypto conf
- You are invited to infinite number of panels. Some of them are not related to you at all but the FPL (Fundamental Panel Law) says: the more CEOs — the better
- You can’t go for parties or see friends because after each event you are invited to the VIP speakers dinner
- You can’t go for parties or see friends because you need to prepare slides for tomorrow keynotes because the FSEL (Fundamental Side Event Law) says: the more CEOs — the better
- Outsourcing companies are ready to grasp you at every corner because development, marketing, PR, airdrop, and other outsourcings deadly need to be sold
- You get infinity of DMs in all possible messengers (including ICQ that you haven’t used since 2010) calling for meeting without any clear agenda just to explore how we can help each other
- You see how all other people (even your CTO) are having fun and wondering when is your turn to have fun but then the conference is over and you got 10x follow ups in all messengers calling for a follow up call
*based on author’s talks with CEOs, not a time management, life, or conference advice.
odbtc.sol retweeted
SSL Update: We've ran into issues in two areas:
1. Issues with volume which could be based on the original data source of Jupiter/Pyth data sourced from Dune.
2. There could be a bug in our backtester
Our goal with pyth pull originally was to get price updates much faster and not be limited by the speed of publishers who generally only post if there is a price change or in a few seconds. We wanted the prices every 2 slots (0.8 seconds).
At one time we were the 2nd most frequent Pyth price updaters (1st being the Pyth team themselves) which means we put in some mad work to get that latency. However, that was costing us 2-3SOL per day which wasnt feasible.
Thus we have immediately begun developing a non oracle based approach to SSL to see if we can still compete without them.
You may ask that other protocols use oracles just fine and why it doesn’t work for us? Well, most protocols don’t require the 2 slots uptime that we do, and we are going through tens of thousands of txns per day, if not more. Best analogy would be that HFT firms require millisecond latency, and doing that onchain even with Solana has proven to be difficult, especially with the congestion in the last few months.
While we are working on this, we have also been working on adding new AMM pools to list any token under the sun, and even using Token2022 standard with an efficient 1 click permissionless pool system. More on that later.
Don't worry, we are still cookin like mad lads 😤
odbtc.sol retweeted
Update 2: We've made some incremental progress on our new algo. Below is a breakdown of what we are working on and what blockers there are.
- Solana congestion: Our AMM relies on using the latest oracle price based on slots. Currently from our monitoring infra we are seeing only a 60-80% success rate, this means only 2/3rds of the time at most are we going to offer a quote for a swap, thus resulting in low volumes
Solution: We are implementing Pyths new pull model to be able to get the most recent oracle slots. Eta ~2 weeks as it was just released to mainnet recently and requires testing. Hopefully with 1.18 some of these issues also resolve themselves.
- New algo means reintegration with DEX aggregators (ex. Jup). We are working with our partners to get our program upgrades pushed to the latest version. We are thoroughly testing but this takes time as we have to review other protocols code and make sure quotes:swap parity match. There is no margin for error as we could disrupt other protocol services drastically if mistakes are made. ETA ~2 weeks (although could be longer due to third party's time to review)
- Lastly, we are continually modifying, backtesting, and iterating to improve our SSL algo. This is an ongoing process, however, once the above two tasks are alleviated, the R&D work becomes more of a background process that users will not be affected by.
Once again we appreciate the support and patience from our team and users! I've said it many times before but will say it again, this is one of the most challenging undertakings in all of crypto - the road from 0 to 100 doesn't happen overnight! 🙏
Where are we at with SSL? I have been asked this question many times the past few weeks.
Short answer: We are back into an R&D phase testing best strategies.
Long answer: It became clear to us that during the most recent Solana runup with billions of daily volume that our current algo isn't tuned enough for exponential volatility and wasn't able to scale efficiently.
Why is SSL so difficult? Well, we have 6 tokens and they all are intertwined pairs, so we have 𝐶(𝑛,𝑟)=𝐶(6,2) = 15 possible combinations of pairs that we can market make on.
Traditional MM is already tough on CEXs, go one step further and do it on chain with oracles and it adds a new level of complexity. Now take it one MORE step further and do MM on 15 different token pairs in one combined pool, that is the level of RenTech, Citadel, Jump, etc. innovation.
Why are we doing this? We are doing this because we want to build a brand new primitive for all of crypto. Most of crypto is repetition of infra/L2s/L3s or clones of existing products.
We always envisioned something newer and better. Sure, we could've chosen the easy route and launched a Uniswap fork, had a points campaign, do a low float/high FDV token launch and ride off in the sunset. Instead, we chose to do things 100% organically and build a product that is a total product market fit in any environment (bull or bear).
Don't get me wrong, I love airdrops/points as much as the next guy, but we don't build solely based on cycles. We want to build a behemoth that will last decades into any ecosystem purely based on being the best product on the market.
Where do we go from here? Now we have a pretty refined system of backtesting, so we are changing some of our algorithm params and writing new strategies and testing them.
What's the end goal? We want to capture a majority of Solana volume. The long term goal is we can add a lot of new tokens (PYTH JUP JITO etc.) without adding extra risk to the system and grow more volume.
Maybe we'll create a memecoin SSL product in the future too, who knows! Possibilities are endless!