Ethereum (ETH)

FOMO’ed in at 0.034E.

Let that sink in. https://t.co/3hXfpUMiyf

i largely agree with this.

i don’t think it’s a winner takes all market but i do believe there has to be a dominant platform. one that sets the standard so high and makes competition so fierce that we ultimately end up replacing the inefficient ways of executing logic traditionally. cos that’s how crypto fulfills its actual destiny.

which is why i think we should never settle for less. no shortcuts, no compromises on the things that actually matter here.

and one of the things that actually matters to me is the single sequencer question. even if you want to argue about degrees of decentralization, a single sequencer is literally a single surface area of attack?. one bad actor, one coordinated takedown, and the whole chain is gone. poof.

you said your thesis for ”~2yr”. you see now that’s the problem i have. there’s no 100% guarantee that the chain still breathes in 2 years since its heart is bound to one sequencer. all it takes is one poke at that heart and it’s done.

i think this is my personal gripe against single sequencer chains. especially general purposed ones, because with specialized ones it’s much easier to transition into an L1 and still guarantee all the properties you guaranteed as an L2, than it is for a general purpose L2 to guarantee all the properties it’s guaranteeing today as an L1. this is a scenario I’m imagining in the case the L2 has to die from that one poke. now that’s a big risk to bear for one who wants to make a rational decision about commitment.

and yeah you also mentioned Hyperliquid for example. one can debate whether it’s sufficiently decentralized or not, but it at least has multiple validators. from there it becomes a question of how many, how distributed, how collusion resistant. on that spectrum i personally don’t think it crosses my threshold of “how hard is it to actually take this chain down.” but I’ll acknowledge that’s a subjective line so i can’t impose that in objective arguments.

a single sequencer chain simply draws no such line at all.

and i genuinely just can’t reconcile betting the future of this technology of crypto on an infrastructure where one point of failure can nuke everything we’re building toward.

if this technology is as important to the future of humanity as i believe it is, then the infrastructure carrying it has to be built like it deserves to last.

if one doesn’t believe in the above, they just don’t deserve to be in crypto imho.

Ekubo on Starknet got drained for $1.36M across 85 transactions. Classic approval-based router exploit, attacker just walked through the front door. Interconnected liquidity pools are the attack surface. Your $ETH sitting in DeFi approvals is the risk.

https://t.co/xTvDTi6H9M...