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Chatted Tempo and stablecoins with @fishkiller and then they translated it into Chinese. podcasts.apple.com/us/podcas…

今天还有connext宣布关停

Plasma Platinum Perk: Claude (mythos pro )

A mic drop moment @ycombinator tonight @sama just offered $2M in OpenAI tokens to EVERY YC startup in the current batch in exchange for equity Just like Yuri Milner offering to invest in every startup back when Sam was a YC partner I can't wait to see what's unlocked when you let the most driven, creative and formidable founders tokenmaxx

Circle 在公布季报的同时，公布了自己做的 EVM 链 Arc 的 2.22 亿美元的融资信息（估值 30 亿美元），并且明确说明：完成的是代币融资。也就是说，这条链会发币，这让 Circle 成为首家进行代币预售的上市公司。 在这之前，Arc 的文档中写的很清楚：Arc 链 gas 用的是 USDC。 那这个即将推出的 ARC 代币是干什么用的呢？ 看了看刚公布的白皮书：ARC 被设计成整个 Arc 系统的「原生协调资产」，也就是，通过 staking 确保链的安全、通过 ARC 代币获得平台权益、获取协议费收入的价值捕获、参与经济治理等等。 这是现在流行的稳定币公链的两层代币模型设计：USDC 负责做 gas 来「使用链」；ARC 负责「拥有链、协调链、治理链、分享链的增长」。 ARC 代币经济的信息： • 初始供应量 = 100 亿 • 早期通胀率预计约为每年 2–3% • 通胀率随时间递减 • 长期目标 = 通胀中性 • 25% — Circle（基金会/核心团队） • 60% — 生态系统（代币销售、开发者资助、网络增长计划等） • 15% — 长期储备

This is my 3rd week as VP of Engineering DeFi at @Polymarket , and I'm going to be straight: the traction @Polymarket has seen has massively outpaced our infrastructure, and we haven't done nearly enough to scale to keep up. I hear you, and fixing this is our entire focus. We're a major company now, and we need to engineer like one. Here's exactly what we're doing: - Onchain data latency. We're working on making this near-instant so the experience is incredible. - Chain migration. We need more block space, cheaper gas and much smaller block times so settlement is instant. - Transactions are getting cancelled. We understand this is one of the most frustrating issues right now, and we have a complete fix coming very soon. - Massive focus on the website to make it faster, more responsive, and with better UX. - We added observability everywhere. Proper alerting so we catch issues ourselves, market makers should not be the ones telling us something is down. That's been unacceptable, and we know it. - E2e tests throughout, starting with the CLOB, so issues get caught in CI before anything ships. - CLOBv2 is not a rewrite. It won't improve performance or stability on its own; it's an upgrade that unlocks us to move fast right after. We'll do better with communication next time. - We are rebuilding the CLOB from the ground up. Most important thing we're doing. Without it, we can't be the best DeFi exchange in the world. We know it, we're on it, it's mission critical. - Unified TypeScript SDK for all APIs, which is shipping soon. - Unified API. One WS connection for everything, with a schema that's actually readable. - New Polymarket contract in the works that unlocks things that are simply impossible on the current protocol. - New hires: Head of QA Automation, Head of Dev Tooling, Head of Internal Tooling, Head of Data Engineering. - Smaller, dedicated teams. Fewer focus points per person, clearer ownership. People do what they're good at and are accountable for it. - Working closely with customer support to give them real debugging tools so any user issue gets properly diagnosed, not lost. - Proper communication with marketing and market makers so everyone knows what's coming and when, and MM can submit feature requests with a clear path to get them into engineering and shipped. - Working with 4 security teams daily to ensure we're super secure and that funds are always safe. - Perps incoming. Brand new contracts and a backend built from scratch in Rust. We're proud of this one. - A lot of other fixes are running in parallel right now. Starting next Friday, I will be posting weekly engineering updates. I joined because I genuinely believe in what @Polymarket is trying to do. @shayne_coplan built this so the world has somewhere to go to find out what's actually going to happen, not what the media thinks, not what a pundit says, but what thousands of people are willing to put money on. But right now, our engineering isn't living up to that. We've let people down, and I'm not going to dress that up. I came here to fix it, and that's exactly what we're going to do. The next few months are going to speak for themselves. Stay with us.

I spent the morning digging into USVC fees. TLDR: In my opinion, there is no lower-cost way to invest in VC other than becoming one. I’m expecting to pay the same or less than it costs to invest in a good VC fund. And a lot less than investing in a fund-of-funds. All while getting the benefits of a fund-of-funds that can do direct, secondary, and fund investments. Carry. If USVC invests in a fund or SPV, I will pay that manager’s ~20% carry. That’s what I expected. All fund-of-funds do it this way. I’m glad to pay carry to invest with good managers. USVC doesn’t charge additional carry. Direct investments. There is no underlying carry on USVC’s direct investments and they aim to make this a major portion of the portfolio. This would bring down the blended cost of USVC substantially, compared to a VC fund. Fees. The annual fee in the first year is capped at 2.5%. This includes the fees of the underlying funds that USVC invests in, which is a huge deal. Just investing in a VC fund costs 2-2.5% a year. Also, the fee would be 3.6% but AngelList is subsidizing it in the first year. There’s a possibility the annual fee could go up in the future and I’ve told the team that this is extremely confusing and weird, and they are working on it with haste. Overall, I’m expecting to pay the same or less than it costs to invest in a good VC fund, but I’m actually getting access to a fund-of-funds that can do direct, secondary, and fund investments. A typical fund-of-funds charges another 1/10 (fees/carry) on top of the VC’s 2/20, for a total of 3/30. Some other things I learned: Early-stage. Early-stage deals are planned. I would rather invest now in case those early-stage investments get marked up quickly. These deals will be riskier and more illiquid, so there’s no free lunch here. The current portfolio includes late-stage (OpenAI, Anthropic, xAI) and mid-stage (Sierra, Vercel, Crusoe, Legora). Illiquidity. This is venture capital. The underlying investments are illiquid. Don’t invest if you’re uncomfortable with illiquidity. That said, USVC is working on redemptions of up to 5% of the fund every quarter. It’s not guaranteed, but if it’s offered, you can choose to get partial liquidity along the way. International. There is a lot of demand from international investors. USVC is not yet set up to accept international investors at scale, but they’re working on it. Sales load. There is no sales load. USVC is only available on usvc dot com and the sales load is waived if you buy through the site. In the future, brokers that list USVC may charge up to a ~3% sales load; that’s how they make their money. Disclosure: I’m a co-founder of AngelList and have shares in the business.

Sad news on nouns. Still think they are one of the best looking pfp of all time

Over the past year, I received 83.7M $SPK from @sparkdotfi as rewards, and dump them on @CoWSwap for 663 ETH and 1.4M USD. I’m feeling some regret now.

Claude explains the $71M @arbitrum clawback: What this transaction is Tx: 0x5618...0f6b on Arbitrum, block 454686044, April 21, 2026 03:35 UTC From: 0x5d39...7Ccc — labeled on Arbiscan as “Kelp DAO Exploiter 1” To: 0x0000000000000000000000000000000000000DA0 — a special system/recovery sink (not the normal 0x...dEaD burn address) Value: 30,765.667 ETH (~$71M) — effectively the entire Arbitrum-side balance of the attacker’s hub wallet Tx type: ArbitrumUnsignedTxType (EIP-2718 type 0x65 / 101) The “type 101” is the key. That is not a user-signed transaction — a normal EOA physically cannot produce one. ArbitrumUnsignedTxType is an ArbOS system transaction that only the chain itself (via the sequencer / ArbOS upgrade path controlled by the Arbitrum Security Council) can inject. It bypasses the attacker’s private key entirely. The remediation (this tx): Arbitrum’s Security Council used its emergency powers to inject an ArbitrumUnsignedTxType that forcibly moved the attacker’s full 30,765 ETH from the hub address into a protocol-controlled recovery sink (0x...0DA0). Why it’s “extraordinary” Arbitrum did not perform a reorg or historical rewrite — the chain’s ordering is intact. Instead, the Security Council used a privileged state-override transaction type that is part of ArbOS but has essentially never been used before. It is functionally a state-level clawback: the attacker’s private key still signs txs, but that address’s ETH was moved by the chain itself. This is the mechanism Arbitrum’s progressive-decentralization docs reserve for “catastrophic” emergencies (12-of-N Security Council action), and this is one of the clearest public demonstrations of it being invoked. Note that it only recovered the Arbitrum leg of the theft — the ~75,700 ETH on Ethereum is outside Arbitrum’s control and remains with the attacker, which is why Aave is still facing up to ~$230M of potential bad debt on the Ethereum side. Sources: Arbiscan tx: arbiscan.io/tx/0x5618044241d… Arbitrum Docs — ArbOS / Sequencer forced inclusion: docs.arbitrum.io/run-arbitru… Arbitrum Foundation — progressive decentralization & Security Council: docs.arbitrum.foundation/sta…