Mike SilagadzešŸ›” Profile Banner
Mike SilagadzešŸ›” Profile
Mike SilagadzešŸ›”

@MikeSilagadze

6,961
Followers
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Following
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Media
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Statuses

CEO @ether_fi , founder @TopHat

George Town, Cayman Islands
Joined July 2013
Don't wanna be here? Send us removal request.
@MikeSilagadze
Mike SilagadzešŸ›”
18 days
Most VCs in crypto are hilariously predatory. Like, comic book villain moustache twirling level of evil. The kind of shit that would get you blacklisted forever, never-work-in-this-town-again type thing, in any other industry is basically the norm in crypto. Many reasons for
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@MikeSilagadze
Mike SilagadzešŸ›”
5 months
The @ether_fi account has been suspended, along with @RenzoProtocol and @wormholecrypto and I assume others. Really glad we pay $1000/month for a verified org subscription so that we can submit an anonymous appeal form and have no phone number or email support of any kind ā­ļø
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@MikeSilagadze
Mike SilagadzešŸ›”
10 months
@notlouisck The government doesn't print Bitcoin and doesn't inflate away your savings at a rate of 2-20% per year
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@MikeSilagadze
Mike SilagadzešŸ›”
4 months
Around 2am last night I noticed something strange with our @ether_fi account. I logged in and quickly changed our password, forced logout from all active sessions, and started poking around the account settings. I saw that the email address had been removed from the account, so
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@MikeSilagadze
Mike SilagadzešŸ›”
3 months
. @ether_fi is the number two staked asset in crypto now, second only to Lido. Bigger than Coinbase cbETH, Binance WBETH, rETH etc. Growing at 2-5% per day.
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@MikeSilagadze
Mike SilagadzešŸ›”
4 months
Ok @CoinDesk so are we gonna publish a retraction or...?
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@MikeSilagadze
Mike SilagadzešŸ›”
27 days
Honestly, donating 1% of tokens to @ProtocolGuild was a super easy decision. Supporting the team that is making Ethereum better is an obviously correct decision and is in my (and everyone elseā€™s) long term self-interest. The reason Iā€™m working on @ether_fi is because I believe
@TimBeiko
timbeiko.eth
28 days
gm, @ether_fi šŸ‘€
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@MikeSilagadze
Mike SilagadzešŸ›”
2 months
It's really really hard to get an airdrop right. You need to nail about 100 different things. It's one of the most stressful things a team can go through. So have some empathy, give the teams space to figure things out.
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@MikeSilagadze
Mike SilagadzešŸ›”
10 days
Looks like Season 3 is on frens
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@MikeSilagadze
Mike SilagadzešŸ›”
1 month
Please stop using that picture of me what is even that??
@CoinDesk
CoinDesk
1 month
Restaking protocol @ether_fi has soared to record highs in terms of deposits and total value locked (TVL) as investors anticipate the approval of a spot ether exchange-traded fund (ETF) in the U.S. By @oknightcrypto .
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@MikeSilagadze
Mike SilagadzešŸ›”
5 months
We had so little faith in ourselves that we didn't even implement the B on the front-end in case we hit a billion TVL
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@MikeSilagadze
Mike SilagadzešŸ›”
4 months
As you all know I don't like to exaggerate, so I literally mean it when I say that every single person in crypto is now an investor in @ether_fi Needless to say it was super fun chasing 95 signatures for this round, would recommend šŸ‘
@ether_fi
ether.fi
4 months
Weā€™ve raised $27M led by @Bullish and @coinfund_io ! Crypto is back baby! We had a huge number of amazing investors participate in this round and now have 95+ investors backing @ambergroup_io @BanklessVC @OKX_Ventures @Consensys @SeliniCapital
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@MikeSilagadze
Mike SilagadzešŸ›”
4 months
Going to write a post-mortem on the token launch. So many lessons learned. Over a 7/10, could have done things so much better, but not bad overall.
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@MikeSilagadze
Mike SilagadzešŸ›”
1 month
One of the most fun parts about the @ether_fi ride has been building products that I want to exist. I can't wait to use Cash!
@ether_fi
ether.fi
1 month
šŸ’µ Introducing Cash! SAVE, INVEST, and SPEND on !Ā  Read more on our blog - Quick hits:Ā  āœ… Cash is a mobile wallet and Visa credit card, that will let you be able to spend on
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@MikeSilagadze
Mike SilagadzešŸ›”
3 months
Just seeing this graph now. The @ether_fi depositor base is quite diverse, which is a competitive advantage I think. ht @intotheblock
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@MikeSilagadze
Mike SilagadzešŸ›”
3 months
Very aesthetically pleasing TVL numbers
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@MikeSilagadze
Mike SilagadzešŸ›”
3 months
I donā€™t know who needs to hear this, but raising too much money at too high a valuation is basically a death sentence
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@MikeSilagadze
Mike SilagadzešŸ›”
4 months
Wild.
@binance
Binance
4 months
Introducing @ether_fi $ETHFI on #Binance Launchpool! Farm $ETHFI by staking #BNB and $FDUSD. āž”ļø
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@MikeSilagadze
Mike SilagadzešŸ›”
1 month
Flew up to Austin from Cayman for @consensus2024 last week Beautiful night landing in Miami for a fuel stop on the way there
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@MikeSilagadze
Mike SilagadzešŸ›”
3 months
The future of crypto is in consumer apps. We need to stop it with the infra fetish and build things normal people can use.
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@MikeSilagadze
Mike SilagadzešŸ›”
3 months
Flying is one of my very favourite things in the world. Excuse the brief departure from crypto nonsense for a personal threadā€¦ šŸ§µšŸ‘‡
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@MikeSilagadze
Mike SilagadzešŸ›”
4 months
Just saw this monstrosity on Pendle. It's beautiful. It's the most degen thing I've ever seen and it brings a tear to my eye šŸ„¹ First you take the ETH and you put it into etherfi and turn it into eETH so it's restaked, then you take that and put it into Pendle and turn it into a
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@MikeSilagadze
Mike SilagadzešŸ›”
5 months
Check out the @ether_fi Farcaster account It doesnā€™t get randomly suspended and it doesnā€™t even cost us $1000/month! BUT we donā€™t get a gold star ā­ļø Sad.
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@MikeSilagadze
Mike SilagadzešŸ›”
21 days
By the laws of crypto @sassal0x is the CEO of @ether_fi now
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@MikeSilagadze
Mike SilagadzešŸ›”
3 months
In case you missed it $eETH is the largest restaking asset by a good margin.
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@MikeSilagadze
Mike SilagadzešŸ›”
15 days
Should we do a @Karak_Network LRT?
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@MikeSilagadze
Mike SilagadzešŸ›”
14 days
šŸ‘€
@ether_fi
ether.fi
14 days
S3
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@MikeSilagadze
Mike SilagadzešŸ›”
4 months
Lots of speculation out there about LRT gov token launches and community distribution. More detail tomorrow, but if you think about the role that Pendle markets play then there is really only one option. Anything else ends up rugging a huge number of users.
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@MikeSilagadze
Mike SilagadzešŸ›”
1 month
Someone depositing about 500 ETH by doing individual 1 + Īµ ETH deposits. The slightly random time intervals and size variations is what really sells it šŸ‘Œ The nice thing about sybils is that they usually are this transparently obvious. Bro season 2 is linear, donā€™t waste gas
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@MikeSilagadze
Mike SilagadzešŸ›”
4 months
There is a VERY real chance that we'll hit 690,420 ETH staked around TGE CT community, we need to manifest this.
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@MikeSilagadze
Mike SilagadzešŸ›”
3 months
Is there an LRT peg/de-peg dune dashboard out there? Would love to see a list of LRTs with the peg status and on-chain liquidity depth (e.g. $ swap available up to 2% slippage) Would pay $ for this!
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@MikeSilagadze
Mike SilagadzešŸ›”
12 days
The number of scam accounts is staggering. We use @DoppelHQ for reporting, and we try to report scams ourselves, but itā€™s just too easy to make new scam accounts. Letā€™s try this: Iā€™ll personally put up a $100k bounty for getting one of these scammers arrested and jailed.
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@MikeSilagadze
Mike SilagadzešŸ›”
3 months
One of the problems with being first to do things is that others can clone what youā€™re doing and avoid the mistakes you had to make getting there
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@MikeSilagadze
Mike SilagadzešŸ›”
6 months
The @ether_fi pool on @pendle_fi is now the largest one at >$25M, bigger than the stETH @LidoFinance pool, with no signs of slowing down. How wild is that?
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@MikeSilagadze
Mike SilagadzešŸ›”
6 months
Can someone whoā€™s an expert in @DuneAnalytics help me out? Something is broken with our metrics dash, ever since we launched eETH itā€™s just a vertical line up
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@MikeSilagadze
Mike SilagadzešŸ›”
2 months
This is such a dishonest take. This is not so much restaking as it's ETH Foie gras. None of these AVSs want $3B delegated to them, and this delegated ETH is earning no rewards. @ether_fi is actually talking to AVSs and asking them what they need and when they need it.
@DougieDeLuca
Dougie
2 months
An LRT that doesn't restake is just as bad as an LST that doesn't stake. Sorry but someone had to say it
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@MikeSilagadze
Mike SilagadzešŸ›”
4 years
@TopHat was founded by two immigrants, me and @ShahiniMohsen . @Shopify was founded by an immigrant - now the most valuable company on the @tsx_tsxv . Letā€™s make more of those! Anyone who lost their H-1B status in the US, weā€™ll guarantee you an interview - reach out directly to me
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@MikeSilagadze
Mike SilagadzešŸ›”
3 months
Lost our blue check on @ether_fi and have been waiting on (and paying for) the verified org approval for weeks. @Support Anyone have a contact at @x to reach out to?
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@MikeSilagadze
Mike SilagadzešŸ›”
4 months
Note to self: don't send cryptic tweets right before going to bed.
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@MikeSilagadze
Mike SilagadzešŸ›”
3 months
šŸ¤
@CoinDesk
CoinDesk
3 months
Liquid restaking protocol @ether_fi 's $ETHFI token surged to record highs, erasing the price slump that followed its airdrop. The surge could bolster valuations of other liquid restaking tokens slated for debut, one analyst noted. by @krisztian_sandor
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@MikeSilagadze
Mike SilagadzešŸ›”
1 month
In the short term it's all about narrative. In the long term it's about cash flows.
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@MikeSilagadze
Mike SilagadzešŸ›”
6 months
Just blew through 50k ETH with @ether_fi
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@MikeSilagadze
Mike SilagadzešŸ›”
1 month
If your salary hasnā€™t gone up by ~30% over the last 4 years then youā€™re poorer due to inflation. Actually itā€™s probably more like 40% accounting for being pushed into a higher tax bracket. Thatā€™s how inflation hits the poor and middle class the most. The rich have assets and
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@MikeSilagadze
Mike SilagadzešŸ›”
5 months
Aaaand we're back! @ether_fi is unsuspended Thanks frens! Appreciate the quick response @Support team!
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@MikeSilagadze
Mike SilagadzešŸ›”
3 months
This is why we canā€™t have nice things
@Tyler_Did_It
TylerD šŸ§™ā€ā™‚ļø
3 months
$WIF has flipped Arbitrum after another 20% rally. Once again, this makes complete sense. Arbitrum doesnā€™t have a hatā€¦
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@MikeSilagadze
Mike SilagadzešŸ›”
1 month
We ā¤ļø @ethereum
@ether_fi_Fdn
ether.fi Foundation
1 month
The Foundation will be sending 1% of ETHFI token supply to the @ProtocolGuild ! This will be 10M total ETHFI tokens, vesting over the next 4 years.
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@MikeSilagadze
Mike SilagadzešŸ›”
2 months
Most protocols face a choice at some point whether to invest dev resources into building a better product that serves users, or building features that pump the token. If they choose the first they get both. If they choose the latter they get neither.
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@MikeSilagadze
Mike SilagadzešŸ›”
2 months
Dubai was pretty neat!
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@MikeSilagadze
Mike SilagadzešŸ›”
2 months
$400M $weETH supplied on @aave Please remember to stay safe and donā€™t use too much leverage šŸ™
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@MikeSilagadze
Mike SilagadzešŸ›”
7 months
. @ether_fi is now a top 100 #Ethereum protocol. Next milestone is top 20. Some really exciting things in the works, with DeFi integrations and product features to add more value to users.
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@MikeSilagadze
Mike SilagadzešŸ›”
3 months
Thanks everyone!
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@MikeSilagadze
Mike SilagadzešŸ›”
3 months
Lost our blue check on @ether_fi and have been waiting on (and paying for) the verified org approval for weeks. @Support Anyone have a contact at @x to reach out to?
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@MikeSilagadze
Mike SilagadzešŸ›”
6 months
An exciting milestone for @ether_fi but only just the beginning!
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@MikeSilagadze
Mike SilagadzešŸ›”
3 months
I would pay soooo much money for a simple identity verification service. I want to be able to plug in a telegram handle or X account and know whether the person actually works at the place they claim to be working at.
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@MikeSilagadze
Mike SilagadzešŸ›”
2 months
Hot take: with all the Eigen fud going on now is the best time to restake since deposits opened
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@MikeSilagadze
Mike SilagadzešŸ›”
2 months
If you save and invest just $25 per day then after 30 years youā€™ll have over $1M. But in 30 years thatā€™s only going to be worth $200k in todayā€™s money. Inflation is a bitch.
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@MikeSilagadze
Mike SilagadzešŸ›”
20 days
Warning: Another flying related post, feel free to skip. Had a plan to fly up from Cayman to Miami on Saturday. Got my Cuba overflight permit. Every plane pays ~$280 for the privilege of flying over their airspace. Communism ftw. Filed my EAPIS. A pointless paperwork thing
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@MikeSilagadze
Mike SilagadzešŸ›”
2 months
Hot take: @justinsuntron has been a great supporter and has made huge personal bets on the restaking space. Legitimately one of the sharpest people in crypto.
@WuBlockchain
Wu Blockchain
2 months
Justin Sun's team address 0x7a9...3095 deposited 120,000 EETH (the deposit certificate after ETH is deposited into EtherFi) into Swell L2 on May 4, worth US$376 million, accounting for 46.6% of the total deposits of Swell L2.
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@MikeSilagadze
Mike SilagadzešŸ›”
1 year
. @ether_fi is now a top 100 Ethereum protocol, 4 weeks after announcing at @EthereumDenver Humbled by all the support we've gotten from the community, before even launching our phase 1 on mainnet - so much more work to do!
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@MikeSilagadze
Mike SilagadzešŸ›”
1 year
. @ether_fi is the fastest growing staking protocol daily, weekly and monthly... starting from a small base, but still, kind of nuts
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@MikeSilagadze
Mike SilagadzešŸ›”
3 months
POV anytime @ether_fi runs a new marketing campaign 35K ETH staked so far today
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@MikeSilagadze
Mike SilagadzešŸ›”
6 months
Looks like @ether_fi just passed the Lightening Network in TVL #bitcoin
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@MikeSilagadze
Mike SilagadzešŸ›”
3 months
šŸ«”
@TheBlock__
The Block
3 months
EXCLUSIVE: JPMorgan says Ethereum could avoid 'security' label amid decreasing Lido share
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@MikeSilagadze
Mike SilagadzešŸ›”
5 months
Would be super cool if people stopped making 500 different stETH wrappers for @eigenlayer and calling them LRTs This is why we canā€™t have nice things in crypto.
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@MikeSilagadze
Mike SilagadzešŸ›”
2 months
@ether_fi
ether.fi
2 months
LRTs are complicated and not all LRTs are the same. Each one has different risks and features. Across all categories $eETH stands out as best-in-class! šŸ’Ŗ
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@MikeSilagadze
Mike SilagadzešŸ›”
2 months
@ether_fi
ether.fi
2 months
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@MikeSilagadze
Mike SilagadzešŸ›”
4 months
Staaaahp! What are you doing?! That's not how any of this works
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@MikeSilagadze
Mike SilagadzešŸ›”
4 months
I have to admit I'm a lot more comfortable in bear markets than during bull market manias.
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@MikeSilagadze
Mike SilagadzešŸ›”
3 months
Going to be in Dubai, please DM if youā€™d like to connect
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@MikeSilagadze
Mike SilagadzešŸ›”
20 days
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@MikeSilagadze
Mike SilagadzešŸ›”
4 months
Even the bars in Denver are bullish on AVSs and restaking! @eigenlayer @sreeramkannan
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@MikeSilagadze
Mike SilagadzešŸ›”
4 months
Looks like CZ is taking the reverse path I took. Let me tell you, the ed-tech grass is not greener.
@cz_binance
CZ šŸ”¶ BNB
4 months
Launching a new project. No, no new tokens. Education project. More details soonā€¦
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@MikeSilagadze
Mike SilagadzešŸ›”
2 months
Ah, #bitcoin lunatics begging the SEC to go after Ethereum, I'm sure Satoshi would be proud
@maxkeiser
Max Keiser
2 months
Gary is right! As Iā€™ve said for yrs, the SEC should and I believe will, classify ETH as a security. This is how we see it in El Salvador and weā€™ve enjoyed incredible benefits. But the fight goes on. The shitcoiners have big budgets and the determination of cancer to
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@MikeSilagadze
Mike SilagadzešŸ›”
4 months
Value accrual is important for governance tokens, and will become the standard. A governance token that's mostly a meme coin with the name of the protocol never made sense to me.
@DefiIgnas
Ignas | DeFi
4 months
$UNI is up by 40% on the proposal to introduce a fee to reward UNI holders who stake and delegate their tokens. It's not the first time the proposal has been suggested, but this time it's @eek637 who is a Gov Lead at @uniswapfnd .
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@MikeSilagadze
Mike SilagadzešŸ›”
3 months
Ok @token2049 done! Finally slept for more than 3 hours last night I'm in Dubai for another week to connect with local folks, who should I meet? Anything I should do while I'm in town?
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@MikeSilagadze
Mike SilagadzešŸ›”
4 years
When @TopHat first started we were given the advice early that we should move to the Bay Area. I used to give that same advice to founders for years. Amazing how things have changed - now I tell people who are still there to get out and move to a sensible city like @cityoftoronto
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@MikeSilagadze
Mike SilagadzešŸ›”
4 months
This is a very strong proof point that there is tremendous demand for pooled security on @eigenlayer
@ether_fi
ether.fi
4 months
The infinite sum games begin with this strategic deal between @ether_fi and @OmniFDN on the @eigenlayer pooled security market!
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@MikeSilagadze
Mike SilagadzešŸ›”
4 months
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@ether_fi
ether.fi
4 months
Weā€™ve raised $27M led by @Bullish and @coinfund_io ! Crypto is back baby! We had a huge number of amazing investors participate in this round and now have 95+ investors backing @ambergroup_io @BanklessVC @OKX_Ventures @Consensys @SeliniCapital
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@MikeSilagadze
Mike SilagadzešŸ›”
10 months
@notlouisck Taxes still pay for stuff. Nothing stops the US (or whatever country) from adopting Bitcoin as a currency and running things as they normally would, minus the hidden inflation tax (i.e. endless wars funded by money printing.) But again, I'm not a Bitcoin guy, this would
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@MikeSilagadze
Mike SilagadzešŸ›”
3 months
TWO BILLION DOLLARS
@EthosStake
Ethos Labs
3 months
We recently announced that @ether_fi has committed a massive $2 billion of restaked ETH to power Ethos šŸš€ This week, weā€™re hosting a Twitter spaces with the @ether_fi team to dive deeper into this collaboration. Join us this Thursday (3/28) at 5 pm EDT šŸ•” Link here šŸ‘‰
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@MikeSilagadze
Mike SilagadzešŸ›”
1 year
Product demo with the @ether_fi community now!
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@MikeSilagadze
Mike SilagadzešŸ›”
2 months
@buccocapital @GRomePow Heā€™s mostly right though
@StefanFSchubert
Stefan Schubert
2 years
Mao persecuted the pre-revolutionary elite savagely, with millions dying in famine. Their children were stigmatised, and were less educated and had lower income than average. But today their grandchildren have regained much of their lead.
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@MikeSilagadze
Mike SilagadzešŸ›”
4 months
@ImanOracle So what happens to a user who spent 5E on YT and effectively paid for that 40% APR that people have been enjoying? Billions of $ in Pendle. Anything other than linear rugs a hundred k YT users and risks destabilizing the whole market. Even if philosophically we wanted to do
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@MikeSilagadze
Mike SilagadzešŸ›”
19 days
Passed on @ether_fi three separate times šŸ„²
@jeffjohnroberts
Jeff Roberts
19 days
Coinbase's venture arm has a 4% stake in ALL crypto investments (!)
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@MikeSilagadze
Mike SilagadzešŸ›”
1 year
. @ether_fi in good company with @unsheth_xyz and @Flashstake frens on @DefiLlama fastest growing TVL Integrations soon?
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@MikeSilagadze
Mike SilagadzešŸ›”
18 days
@dcfgod Thinking about it..
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@MikeSilagadze
Mike SilagadzešŸ›”
9 months
@zerohedge The solution is obvious, we need to take away ALL of @elonmusk money immediately so that we can coverā€¦ 6 days of deficit spending.
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@MikeSilagadze
Mike SilagadzešŸ›”
5 months
Caps on @eigenlayer have been opened for 30 min and Lido stETH hit >33% instantly. The real IQ test for crypto is to see if people keep dumping money into stETH wrappers even though there are no points to be had. Aaah I can feel the decentralization!
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@MikeSilagadze
Mike SilagadzešŸ›”
5 months
I have to say Iā€™m pretty offended they didnā€™t copy @ether_fi code
@DLNewsInfo
DL News
5 months
Two booming DeFi protocols published similar code. Was it copied?
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@MikeSilagadze
Mike SilagadzešŸ›”
3 months
For those wondering about this, these donā€™t mean @ether_fi is running the nodes. Weā€™ll change the operator names to clarify soon. Each @ether_fi operator on @eigenlayer maps to a specific node operator or solo staker group.
@udashdash1
u--1
3 months
see @ether_fi dominating the leaderboard, flexing their in-house operators @EigenYields continue to impress as the largest LRT-independent operator No other LRTs to be seen
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@MikeSilagadze
Mike SilagadzešŸ›”
10 months
@RealRonChhinzer I think the solution is obvious, Canada needs to blame grocery stores and home builders for high prices and add new taxes. Also more stimmy checks.
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@MikeSilagadze
Mike SilagadzešŸ›”
1 year
One of the things I love about crypto is that weā€™re still at the stage that a small team can ship something in a few months that makes a meaningful impact in the space. Something exciting coming from @ether_fi next week!
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@MikeSilagadze
Mike SilagadzešŸ›”
8 months
I gotta say @swellnetworkio is absolutely killing it. So impressive to watch them hustle and build momentum. LST protocols that commit to self-limiting arenā€™t really competing with each other. Weā€™re all on the same team working towards the same goals.
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@MikeSilagadze
Mike SilagadzešŸ›”
3 months
In startups what matters in the long run is solving real problems for people. Not narratives, or hype. Not raising money or valuations. I actually didnā€™t mean for this to turn into a pedantic thread. Just wanted to share my love of flying.
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@MikeSilagadze
Mike SilagadzešŸ›”
5 months
In first gen liquid staking winner take all made sense because there wasnā€™t much product differentiation. In a world where there are 1000s of restaking AVSs there is going to be a ton of fragmentation. This is a good thing. Also means collaboration among LRTs is positive sum.
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@MikeSilagadze
Mike SilagadzešŸ›”
1 year
One of our core principles at @ether_fi is: "We will do the right thing for the Ethereum community, always." It's right at the start of our whitepaper
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