⬡ data spinner ⬡ silo disrepectoor ⬡ stakeholder in the backbone of the Global Financial System ⬡ p̵l̵a̵t̵f̵o̵r̵m̵ Protocol Economy explainoor ⬡
Joined September 2016
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Since everyone is so concerned about Chainlink's fees - lets see where fees accrue in this example DTCC workflow -
> ethereum (but could be any chain) - whatever current gas fee is to lock token on mainnet (1 gwei is currently $.004 and scheduled to go lower)
> DTCC Besu Based AppChain - ZERO gas fees
> Chainlink - $.14 $LINK orchestration fee
Replicated across txs that exceed $20T daily.
There are a thousand public chains
There are hundreds of private chains
All locked in a gas race to zero
Abstracted and Orchestrated with the all the real-world's offchain systems and data by Chainlink.
There is only one $LINK.
the token not needed meme is low IQ bait. The worlds institutions are not hoarding gas tokens just to use public blockchain. Chainlink nodes do not accept anything execpt $LINK for providing Chainlink services. All Chainlink workflows settle in $LINK.
Overcollateralization has to do with the terms of the lending agreement between counterparties - it has nothing to do with Chainlink. Moving value is just one step in orchestrating the Collateral Management process.
run ⬡ the ⬡ juels retweeted
how about the permissionless databases focus on being able to offer the full stack feature set the real world requires - and a superior killer product - instead of looking for a regulatory handout?
Did i hear something about ethereum replacing all the worlds institutions?
And did i hear something about glamsterdam being delayed?
Ive got news for you. Institutions arent waiting for you anymore. Proof over Promises.
$LINK
run ⬡ the ⬡ juels retweeted
Isn’t it funny that those who benefited from regulatory uncertainty and complained about being shut out are now asking regulators to shut out competition? Am I the only one finding that odd?
The SEC's tokenization exemption has a big open question: what counts as a "public, permissionless" blockchain? 🤔
The first 3 tokenized stock venues:
TSV LLC on @CantonNetwork
OKXICE on its own @Ethereum L2
Kephas Corp. on its own @Ethereum L2
Who wants what:
@SolanaInstitute , @malekanoms and @lex_node want it tighter
@hedera wants it wider
@SIFMA wants clarity
@BetterMarkets wants it scrapped
Meanwhile, 22 of 62 companies have objected to having their shares tokenized on OKXICE.
The rules for onchain stocks are being written right now & this graphic is a busy one!!
Via @CryptoAmerica_ @EleanorTerrett.
run ⬡ the ⬡ juels retweeted
Wall Street and DeFi is converging
The DTCC brings legal certainty and institutional trust behind traditional securities
Hyperledger Besu, Ethereum and other blockchain networks bring global liquidity and open financial markets
Chainlink connects everything and orchestrates the work
This is how trillions in traditional financial assets begin entering the onchain economy
New video:
How DTCC’s app chain opens up to Ethereum
Sergey Nazarov explains Chainlink’s work with DTCC. A private, regulated environment carrying DTCC’s legal standing on one side, Ethereum’s liquidity and user base on the other, and CCIP connecting.
globalcustodian.com/multimed…
run ⬡ the ⬡ juels retweeted
Starting in 1 hour, Director @wyoapollo will join @AndrewMcMarkets of @chainlink and @katieeperry of @zerohashx to discuss Wyoming's stable token initiative, and the potential for FRNT to serve as a public good.
Register here:
chain.link/webinar/pioneerin…
Looking forward to joining this discussion with @wyoapollo of the @wyostable and @katieeperry of @zerohashx! We'll chat about Wyoming's stabletoken initiative and explore how other governments can take similar steps to help their citizens. Register here: bit.ly/4ig7Kfz!
run ⬡ the ⬡ juels retweeted
New docs for the Chainlink Platform 👀
Every organisation now gets Billing, Payments and Limits controls. CRE has its own Limits.
Now connect that to what we already know:
• Every CRE workflow run is metered for compute time.
• Usage is counted in credits priced in USD.
• A recent GitHub pull request calls these usage reports "billing receipts".
• The Fulcrum x DTCC demo shows a 0.01 LINK orchestration fee.
• Chainlink Functions, which has been upgraded to CRE, prices in USD and charges in LINK.
• The Chainlink Reserve converts revenue, including off-chain payments, into LINK, which can clearly include Credits bought offchain with dollars.
Connecting the dots . . .
docs.chain.link/chainlink-pl…
ethereum:0x514910771af9ca656af840dff83e8264ecf986ca
run ⬡ the ⬡ juels retweeted
>maybe there are industry plants
jfc its been right in front of you all - all along.
DeFI was Chainlink's battle testing grounds.
ethereum was Chainlink's loss leader.
Institutions have been building for the past decade. And they built their systems according to their - and their counterparties and clients - exact requirements for how they would securely implement private and public chains into their existing systems and workflows.
Orchestrated by the Chainlink Runtime Environment.
Payable in $LINK.
"Any asset, […] any jurisdiction, with any custodial system, any time of day is now mobile in terms of collateral. This truly changes the game.”
- Dan Doney, CTO of @The_DTCC
run ⬡ the ⬡ juels retweeted
This is so frustrating. I keep trying to engage with established commentators making bold statements on twitter about how "Swift didnt think about the liquidity problem" or "DTCC doesnt know what theyre doing because Canton is ONE of the chains they will issue assets on" but all i get - if im lucky to get a reply at all - is condescension.
Everyone has a hot take. And most have spent the past 10 years laughing at insitutions first attempts at enterprise blockchain instead of watching what theyre doing next.
Next is going live now. Regardless of what anyone has to say. They should have been part of the TradFI conversations - instead of hanging at the cool kid blockchain conferences.
xitter.cf/nullpackets/status/187…
"If you think about transferring value, token-based payments will essentially eliminate the need for collateral in, say, nostro/vostro accounts that we see in correspondent banking." - @AtlantaFed FMC 2023
Anyone conflating tokenization and stablecoins with bridge currencies and nostro/vostro accounts either doesn't understand what theyre talking about or has ulterior motives to spread misinformation.
This isn't about the payment rail. This is about the Unified Golden Record.
$LINK $xrp
run ⬡ the ⬡ juels retweeted
What it would look like if Ari Juels swapped 1M+ bitcoin into chainlink via a single market order
Patiently waiting for Ari Juels to swap his 1 million+ Bitcoin over to Chainlink. AJ>SN 👍 $Link
run ⬡ the ⬡ juels retweeted
just as a reminder - those institutions you and your fellow $eth utopians rail against are the same ones that funded the R&D that makes ethereum decentralized, permissionless, credibly-neutral and most importantly - cryptographically secure.
xitter.cf/nullpackets/status/211…
hey asshole. if you want to take down Vitalik go ahead. Im guessing you cant. thats why you waste your time jerking off with your buddies about how evil rtj is instead. P.A.T.H.E.T.I.C.
It isnt a hard question why institutions are standardizing on the Chainlink abstraction and orchestration layer instead of individually connecting each of their internal systems to $eth mainnet or any other directly at scale.
it introduces too much friction. it lacks shared security. too many trust assumptions. and ethereum isnt capable of supporting institutional needs at this time - it lacks privacy, introduces smart contract and MEV risks, too little TPS, governance and on and on.
when will $eth live up to their narrative of permissionless, credibly-neutral infrastructure?
Your peronal feelings do not matter here. Once you release an open-source permissionless technology into the world - you dont get to cry people are using it in a way you dont like.
Stop crying and start being agnostic infrastructure. Start being credibly-neutral.
Fuck man.
when will $eth live up to their narrative of permissionless, credibly-neutral infrastructure?
Your peronal feelings do not matter here. Once you release an open-source permissionless technology into the world - you dont get to cry people are using it in a way you dont like.
Stop crying and start being agnostic infrastructure. Start being credibly-neutral.
Fuck man.
run ⬡ the ⬡ juels retweeted
welcome to the real world. where even trustless databases arent trusted.
xitter.cf/nullpackets/status/211…
Did i hear something about ethereum replacing all the worlds institutions?
And did i hear something about glamsterdam being delayed?
Ive got news for you. Institutions arent waiting for you anymore. Proof over Promises.
$LINK
come on ethereans - here's your chance to promote $eth's integration into the Global Financial System at scale.
Thru Chainlink ofc. But if you can let go of your egos - maybe we can get back to first principles.
New video:
How DTCC’s app chain opens up to Ethereum
Sergey Nazarov explains Chainlink’s work with DTCC. A private, regulated environment carrying DTCC’s legal standing on one side, Ethereum’s liquidity and user base on the other, and CCIP connecting.
globalcustodian.com/multimed…
run ⬡ the ⬡ juels retweeted
If V really wanted to fix ethereum's MEV problem - he would have worked with Chainlink - the oracle the overwhelming majority of ethereum apps and devs build on and secures 70% of ethereum DeFI TVL - to come up with ways to make Chainlink and his vision for ethereum work together instead of proposing shittier alternatives and the constant stream of Chainlink subtweets.
xitter.cf/nullpackets/status/207…
MEV and Global FX swaps dont mix.
By classifying oracle price updates as privileged txs and ordering them at the head of every block - a requirement that data be immutable before any settlement can occur - Project Pangea fixes this.
Utilizing existing Swift infrastructure, ISO20022 messaging, a Layer 1 purpose built for cross-border FX and the Chainlink Stack - the 50 banks that have joined Project Pangea can conduct direct, atomic, T+0 PvP stablecoin FX swaps without having to worry about txs being front run or mispriced or the global contagion that would cause.
$LINK everything
