Sailing the new Web and playing eSports during the day ☀️ Degening during the night 🌚 Co-Founder at @zerion & Venture Partner at @polymorphiccap | MODE: PvP
Earth
Joined September 2013
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- Following3.1K
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We, as the Web 3.0 community, built so many cool ways to enable the value flow programmatically: colored coins, alt coins, ethereum killer coins, stable coins, real world assets coins and millions of memecoins for all memes on the Internet.
🛜 Enabled by so many distributed networks and interoperable 24/7, without banking delays.
It took some time, since inception of @ethereum, the one idea that sparked so many minds.
The more is yet to come with new citizens on the Internet, we call agents.
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Papaya is live on @arc mainnet 🚀
Recurring and pay-as-you-go payments in USDC. Open a payment once, it streams per second until you stop it.
Demo 👇
papaya.finance/arc-demo
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Liquid Reputation is coming. Join before the alpha is being revealed!
app.r3p.xyz/?x=STM7HR&c=q
i'm top 1% on @rep_hq.
107 achievements. #1 on the leaderboard. o rank.
join my network on @rep_hq and see where you stand. app.r3p.xyz/?x=STM7HR&c=v
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It's time to cook, see everyone at @ETHLisbon tomorrow! I am going to be mentoring for the whole weekend. Ping me here or in telegram.
AI agents can talk to anyone. they still can't prove anything. every deal stops at 'trust me'.
we've been fixing that: claims proved on a phone in 11 seconds, nothing revealed. a real business is starting to consume them.
sharing what we learned on jolt by @a16zcrypto 🧵
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Agentic world is coming!
1/6 @Mastercard just launched Agent Pay for Machines. New infrastructure built for AI agents to transact with each other, autonomously, at machine speed.
@Nevermined_ai is part of it 🧵
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AI bull market vibes. The way to rebuild civilisation lies somewhere between those lines
Everyone’s pro-compliance until they open the MiCA application form. big respect to those who actually survived it @robiosss!
Due is officially MiCA authorized by Spain's CNMV - one of the first few to receive it. 🎉
A fully authorized partner for compliant fiat to stablecoin connectivity in the EU - for fintechs and financial institutions building in the European Union.
If you need a regulated infrastructure partner, let's talk.
If you want to understand agentic payments beyond the hype!
1/10 We are shipping persistent card delegation for AI agents using agentic tokens. Here's the technical architecture that makes it work.
Four innovations, end-to-end: agentic tokens, persistent delegation, micropayment sessioning, and merchant acceptance infrastructure.
Deep dive 🧵
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Something is being 🧑🍳
worth to read, i love analogies to an old internet
last 1.5 years were cracking another piece of outdated HTTP architecture: “user-agent” or broken identity
it was always not efficient while having giant potential, same as 402
the question “How do I find stuff to buy?” is not completely finished, the missing part is “how do i make decisions whom to trust for a deal?”, and such solutions shall have this early internet “pirate” vibe to be everywhere
and cryptography getting one of the most beautiful use-cases, from provenance and portability, to data management, policies and execution
happy to build this with one of the most talented teams in the industry
thanks for read and inspiration @samrags_ and @a16zcrypto
Noting personal, just business. It is time to redefine some of the HTTP stack to make humans and machines trust each other more 😜
Cloudflare spent years restricting scrapers and selling anti-bot protection.
Now they offer /crawl endpoint that can fetch HTML, convert pages to Markdown, extract links, and scrape page elements programmatically.
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Onchain data should be a public good. @Dune gets this. Since launch it’s been one of my favorite products in Web3 — not just useful, but leveling the playing field. Huge respect to @hagaetc and the team.
Dune MCP is live 🔌
Plug Dune directly into @claudeai, @ChatGPTapp, @cursor_ai, and more.
Search tables. Write queries. Build charts. Check Usage.
All from a single prompt. 💻
Your AI just became a Dune power user.
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Fintech HR departments after boards of all those companies understood that they can cut up to 90% of costs and personal involved in routine paper settlement 😈
2017: "Crypto is a scam"
2021: "It's a bubble"
2026:
• AMEX hiring crypto product managers
• PayPal hiring crypto business development
• Visa hiring crypto sales & partnerships
• JPMorgan hiring blockchain developers
• Morgan Stanley hiring crypto traders
• BlackRock hiring digital assets associates
• Citi hiring blockchain engineers
The same institutions that dismissed Bitcoin are now fighting over blockchain talent.
The paradigm shift isn't coming. It’s happened and @ethereumJoseph
All right, degens, how I can short this onchain? Any ideas: @banteg, @vasily_sumanov ?
🦔 Meta is paying $6.5 billion extra in interest to keep $27 billion in AI infrastructure debt off its balance sheet. They're using something called conduit financing, where a special purpose vehicle borrows the money, builds the data centers, and leases everything back to Meta. On paper, Meta is just a customer making lease payments, not a debtor.
Oracle is doing the same thing at even larger scale: $38 billion for two data centers through Vantage, part of its $500 billion Stargate partnership with OpenAI. xAI raised $20 billion through a similar structure, with Nvidia contributing $2 billion in equity while also being the hardware supplier.
The circular financing is incredibly dizzying. Nvidia invests in CoreWeave. CoreWeave uses that capital to buy Nvidia GPUs. CoreWeave leases capacity to Microsoft and OpenAI. Their revenues support the lease payments. Nvidia reports revenue from the chip sales and marks up its CoreWeave investment. Everyone's balance sheet looks clean.
My Take
Some analysts are comparing this to subprime-era tactics where firms shifted risk off their books to reassure investors. The structures are legal and the accounting is technically compliant, but the effect is the same: hundreds of billions in obligations that don't show up as debt in the traditional sense.
The whole thing depends on AI eventually generating enough revenue to justify the infrastructure costs. Moody's flagged that Oracle's data centers rely heavily on OpenAI, which won't be profitable until 2029. If AI monetization disappoints, we'll find out whether bondholders have secured claims on essential infrastructure or whether they're functionally unsecured creditors of overleveraged single-purpose entities whose assets are worth less than the outstanding debt.
I keep coming back to the same question with all of this: what happens when the music stops? The conduit structures haven't been stress-tested. The hyperscalers are profitable now, but these are 20+ year obligations built on assumptions about AI demand that haven't been proven. If custom silicon undercuts Nvidia demand or the revenue never materializes, a lot of people are going to discover that the risk they thought was somewhere else was actually right where they were standing.
Hedgie🤗
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Well, so @polymorphiccap is heading to the next chapter, wait for some reflections of my 4 years of being “VC” 😂
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