It's not that writing "research" makes you a researcher 🤷‍♂️

The discourse around Solana over the last month or two has been poor and misguided. We went from focusing on what Solana is incredible at, to trying to force something that is still in its earliest stages. Solana is the only blockchain and ecosystem continuing to pave the path that was set before our time. We were gifted Vitalik's vision of a decentralized world computer capable of processing all of the world's transactions. Without that vision, there's a chance Anatoly never has those two coffees and a beer and sets out to build the fastest, decentralized, most capital efficient general purpose blockchain capable of recreating the entire financial system onchain. Solana currently IS the fastest, decentralized blockchain in the world by nearly every metric, and it's only getting faster. Check the chain. In terms of use cases, Solana is top 2-3 across nearly every single one. Spot, Payments, RWAs, Lending, and the list goes on. Perpetuals are early. We should keep cheering on and supporting the teams working to make them work on a truly decentralized blockchain. But zoom out, and Solana has accomplished more than most, and will continue to accomplish more than most if we stay focused on supporting all financial use cases. Stop focusing energy on the wrong things. Focus on the right ones, and let the rest catch up. Solana.

Memecoin traders don’t define Solana, apparently perp traders don’t either. Huge props to @vibhu / @SolanaFndn for taking on this challenge and giving me the opportunity. It’s been fun. Regarding @PhoenixTrade, much better than i thought, there’s still a lot of work that needs to be done, but the team, based on my limited interactions with them, has seemed competent enough to figure it out. I come out of this with more friends, more experience and more cash to buy $HYPE. Thank you all for following along! Hyperliquid.

The bad news: - I lost $10k trading and walked through the fire in a public humiliation ritual The good news: - OI grew 50% & volume grew 100% on @PhoenixTrade - Solana @perps hit all-time highs - 500 people used my referral code and thousands created accounts on Phoenix this week to try fully onchain perps Time to return to my regularly scheduled programming. It's been fun. 🫡

Apparently you can try @PhoenixTrade, do the exact opposite of what @vibhu is doing and you can make money out if it. This is real alpha and if you are not trading on @PhoenixTrade you are not a trader for @perps

Composability?

Never seen hyperliquid this scared before

All of this when it’s still in beta… Probably someone needs to explain them what “beta” means… Can you stop please? Otherwise other teams need to rise the standard l, it’s not fair

I think most of the fud is because it was told that to have a great perp you need to centralize something, and now that we have a good perp on a decentralized network people still get dragged by the bias. All complaints I’ve read around are mostly pointless. Liquidity is not a lack of the tech and most of the features still missing are missing because the product is still in beta… I use @PhoenixTrade daily basically and if you ask me what’s not working at retail level…well I have hard time to answer that. I acknowledge it’s in beta and few things are missing, but the experience is great and I only see upside potential.

I don't know, shorting ETH on Solana and making money out of it gives some strange vibes 🤷‍♂️

1) What?

few

You don't have enough dishes, believe me…

Options, perps, spot...

I think people still don't realize that... You have best spot experience, and if you used @PhoenixTrade you know you have a very competitive perp...all in one chain. Composability, with all funds can move freely in just one txs, no bridging needed... Now tell me where else, on-chain, you can build a real trading strategy, with the possibility to hedging your position...with no further complications.

What people mostly miss in the FBO vs FBA vs FCFS debate is that in a distributed system you have an additional player: the validator. This change the equilibrium. FBO does not eliminate the rent from stale state. It turns that rent into an auction object: the right to move the state first. This distinction matters. In FBO, the price is not updated through a single batch-level clearing step. The state price updates transaction by transaction, according to the ordering chosen inside the batch. Paying more priority lets a participant buy an earlier position in that state transition sequence. So FBO can be better than FCFS if it replaces an opaque latency race with an explicit priority market, and if the resulting rent can be redistributed to the protocol. But FBO can also be equivalent to, or worse than, FCFS if the validator or builder can appropriate the auction, accept side deals, censor competing bids, or self-preference their own transaction. It can also reintroduce a latency race if priority bids are observable and continuously updatable until the batch closes. In that case, the race is no longer only about who arrives first, but about who can update their bid last. So you can see why the combo MCP FBO is a powerful combo if designed properly.

in case you're curious how rare it is to have a block with >0 AND <10 non vote transactions, on median it happens 65 times/epoch or 0.015% of the time

just seeing this. issue was on our side in BAM that we've been running down. these were the highest reward/cu txs at the top of the block, so they naturally got selected first.

Some validators executing swaps against BisonFi appear much later than expected under our timing model. This is not proof of censorship. We do not observe when a tx first reached the leader. But the same subset of validators is better explained by an “extra latent delay” model than by the normal class baseline. In the high-anomaly tail, these validators account for ~10% of observed slot containing USDC<>SOL swaps in the sample. Also notable: the anomalous validators are concentrated on the same client. Despite not being a 100% proof, it is definitely a signal worth investigating.