Susruth retweeted
the best analogy for "why garden" is the premium on organic food
in europe there's this concept of demeter produce. smaller farms, stricter standards, more constraints. people pay around 10-30% more for that quality
in trading, there are platforms like binance that make tradeoffs to optimise for speed, cost, and liquidity
we're working towards that level of accessibility too but starting from "no custody, no trust" changes how everything comes together
and it turns out, a lot of people actually want that version first
Susruth retweeted
You Can Just Build Things with Garden 🌸 nitter.gq/i/broadcasts/1yoKMoMqa…
Susruth retweeted
Shoutout to @gardenfi for building an amazing bitcoin bridge product. I tested it from cbBTC on base to L1 BTC and I'm hooked! Smooth, constantly showing the status of the bridge, tons of information and links to mempool / explorers to track each interaction.
Hooked!
Susruth retweeted
the best crypto founders don’t see TGE as a payday, but the exact opposite - a debt, backed by their reputation
for them, they measure success in delivering their vision, doing right, building relentlessly, and proving—above all—to themselves that they were worthy of the trust
Susruth retweeted
another awesome write up from the ithaca team
sounds a lot like what we've being cooking at garden to improve our bridging experience
EXP-0002 demonstrates the creation of an application-specific session re-using your existing EIP-7702 powered account.
A scoped session key is added to your account, which allows you to interact with an app freely w/o redundant clicks or popups.
ithaca.xyz/writings/exp-0002
Susruth retweeted
This is why we need solutions that better leverage WBTC.
I spent the better part of my career building out renBTC, and even at our peak dominance (top 50 MC), we struggled to compete with WBTC for liquidity.
Our top interfaces were DEXes that let users bridge from BTC to WBTC and abstracted renBTC entirely.
I personally don't believe either WBTC or a decentralised equivalent are the end game. The economics as @0xngmi points out are too difficult to pull off. The winner in my view will be a solution that can successfully tap into existing off-chain liquidity sources (including WBTC) for on-chain bridging.
What most ppl miss when discussing WBTC competitors is that the economics are extremely hard to pull off
current WBTC rev is ~2m/yr on >10bn tvl
let's say you just want to match the liquidty of WBTC, there's ~200m in liq, so if you spend all your rev on it thats an apr of 1%, who will provide liquidity for that?
then you have the parties that will run the bridge, if its a decentralized bridge, how will you pay the node runners?
and what incentives will you give for people to use your BTC when WBTC has much more utility? if you provide an APR on 10bn with revenue you can only afford 0.02% APR
Not to mention all the integrations that WBTC has, such as aave and pretty much all defi protocols, and all the CEXs
And even if you win that, once youre the winner, whats happening with WBTC is that MMs are capturing the fees when swapping between WBTC<>BTC swaps instead of the bridge, so margins will be further reduced over time
Even if you choose to use an existing custodian, if you get chargeda ~standard 20bps on custodied BTC that alone will cost 20m, so 10x revenue!
Not to talk about how hard is to beat an entrenched player that has been existing for 6 years!
Susruth retweeted
Our shiny new website is live over at catalog.fi! Take a look and discover what Catalog is all about
🧵👇