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Vasiliy Shapovalov Profile
Vasiliy Shapovalov

@_vshapovalov

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tech guy

Joined April 2019
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@_vshapovalov
Vasiliy Shapovalov
2 years
Lido was launched with a mission of keeping Ethereum decentralized. That has been our goal from day 1, making it easier for people without 32ETH or the desire to run their own hardware to participate in securing the Beacon Chain /1
@ryanberckmans
Ryan Berckmans ryanb.eth
2 years
1/ Today, Lido's stETH has a 25% share of all staked ETH and 87% of staking derivatives. But also today, staking derivatives are 29% of staked ETH and may grow to 80%+ within two years. Lido is on track to control, say, 50%+ of all staked ETH. imo, it's a real problem 👇
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@_vshapovalov
Vasiliy Shapovalov
2 years
Ok folks what is an actionable way to fight Tornado devs' persecution?
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@_vshapovalov
Vasiliy Shapovalov
3 years
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@_vshapovalov
Vasiliy Shapovalov
10 months
Lido is a protocol that, if you want it, stakes your ETH to a transparent, well-known set of node operators and gives you the receipt token. When you no longer want to, it unstakes the ETH and burns the receipt. That's literally all it does.
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@_vshapovalov
Vasiliy Shapovalov
3 years
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@_vshapovalov
Vasiliy Shapovalov
11 months
Lido is very limited. It depends on Ethereum to function; it has little influence over node operators; it can and is on the path to be limited further via changes to the protocol's smart contracts; it's open source. It's not coercive and nobody is forced to stake using Lido.
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@_vshapovalov
Vasiliy Shapovalov
2 years
Wormhole is built by people whose technical prowess I admire. With funds backstopped, it will come out of this stronger.
@wormhole
Wormhole
2 years
The wormhole network was exploited for 120k wETH. ETH will be added over the next hours to ensure wETH is backed 1:1. More details to come shortly. We are working to get the network back up quickly. Thanks for your patience.
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@_vshapovalov
Vasiliy Shapovalov
3 years
AMM space is the moon math race at this point.
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@_vshapovalov
Vasiliy Shapovalov
3 years
Listen to @cosmos community. It was two years ahead on liquid staking, now it's two years ahead on multichain world. @zmanian is talking pure alpha.
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@_vshapovalov
Vasiliy Shapovalov
2 years
To fine folks holding Ether in these troubling times: don't just hold, stake!
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@_vshapovalov
Vasiliy Shapovalov
11 months
Take a look at If you see Lido as a coordination layer between stakers and node operators - which it is - it is extremely effective in reducing staking layer centralization and increasing Nakamoto coefficient.
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@_vshapovalov
Vasiliy Shapovalov
2 years
@bantg Isn't "abstain" the same as "no"?
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@_vshapovalov
Vasiliy Shapovalov
2 years
@eliasimos Lemme introduce you to the russian meme templates
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@_vshapovalov
Vasiliy Shapovalov
3 years
MEV protection through low latency is the new security through obscurity
@_patrickogrady
patrickogrady.xyz
3 years
7/ Because of the speed of block production, it may be less feasible to modify the node with an mev-geth style extension to sell opportunities to arbs. By the time they would hear about an opportunity, it would probably already be gone.
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@_vshapovalov
Vasiliy Shapovalov
3 years
A big commitment to transparency
@LidoFinance
Lido
3 years
Direct link to report: The report was assembled based on point in time data gathered from Lido Ethereum Node Operators during October 2021. The data was self-submitted by the Node Operators.
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@_vshapovalov
Vasiliy Shapovalov
3 years
The way to delay the MEV reorgs is obviously to set up a prediction market and bet on it happening sooner /s
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@_vshapovalov
Vasiliy Shapovalov
9 months
uh oh
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@LidoFinance
Lido
9 months
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@_vshapovalov
Vasiliy Shapovalov
1 year
On the hot topic of the day, it's great ethereum community challenges Lido. This pressure is force for good and is making Lido better in ways meaningful for the community. 1/
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@_vshapovalov
Vasiliy Shapovalov
2 years
This is a simple but powerful governance design trick that makes sudden changes to the protocol a lot less likely. I think more governance mechanisms should adopt that.
@LidoFinance
Lido
2 years
With the recent introduction of the Lido on Ethereum Scorecard - a set of attributes important for the decentralisation of Lido - we mentioned the importance of a vote timelock as a governance safeguard. It’s time to bring this to life.
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@_vshapovalov
Vasiliy Shapovalov
2 years
Folks talking up potential eth pow forks are not contrarians, they are just plain grifters. Remember them.
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@_vshapovalov
Vasiliy Shapovalov
2 years
Ben’s Hanlon razor comment cuts deeply for me, because I’m feeling very acutely that Lido should have delivered the right design to get solo stakers in by now, but we haven't delivered it yet. It is, however, absolutely at the core of the vision for Lido
@benjaminion_xyz
Ben Edgington
2 years
I'm going to be generous here and apply Hanlon's razor - that @LidoFinance simply don't get it. But it is getting increasingly hard not to conclude that they are bad-faith actors.
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@_vshapovalov
Vasiliy Shapovalov
3 years
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@_vshapovalov
Vasiliy Shapovalov
3 years
@ASvanevik @iamdissected when you're rugpulled on polygon, your money's polygone
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@_vshapovalov
Vasiliy Shapovalov
3 years
Had a great time in Lisbon, meeting so many friends in person for the first time. Feel energized to retreat back to my cave and build :)
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@_vshapovalov
Vasiliy Shapovalov
2 years
My long term dream for Cosmos Hub is to make it useful.
@P2Pvalidator
P2P.org
2 years
Introducing Neutron - the most secure permission-less smart contract platform for Interchain Finance: 1️⃣ CosmWasm Enabled 2️⃣ Cosmos-Hub Secured 3️⃣ DeFi for the Interchain
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@_vshapovalov
Vasiliy Shapovalov
1 year
So, folks, what I think is the best way to handle the staking market: - stake in a way that you think will bring the best outcomes to you and Ethereum - if you're up to that, educate your friends and audience on what are the options, the good & bad sides, the trade-offs 1/2
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@_vshapovalov
Vasiliy Shapovalov
1 year
May I present you the first ever Lido withdrawal NFT sniper
@jackqack
alextcn
1 year
Lido v2 is live! @LidoFinance
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@_vshapovalov
Vasiliy Shapovalov
3 years
The ultimate mask is mine folks
@bantg
banteg
3 years
Blended all masks together. 16,384 mask value! All masks were downloaded from IPFS, had their SHA-256 hashes checked then got combined using state-of-the-art floating point arithmetics.
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@_vshapovalov
Vasiliy Shapovalov
7 months
Excited to see Neutron flourish
@Neutron_org
Neutron ✴️
7 months
Introducing Neutron as the Integrated Application Network ✴️ By granting smart contracts the powers of an appchain, Neutron enables developers to build breakthrough applications and onboard users from anywhere.
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@_vshapovalov
Vasiliy Shapovalov
3 years
Congrats on the launch! Have huge respect for rocketpool for building through bear and never ever losing the vision.
@Rocket_Pool
Rocket Pool
3 years
We are live!! In just two hours, 94 nodes across 28 time-zones have registered. Our stage 1 target of 15 minipools has been hit. Stage 2 kicks off 10 Nov 00:00 UTC. A big thank you to our community! Looking forward to welcoming you all to decentralised Ethereum pool staking.
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@_vshapovalov
Vasiliy Shapovalov
4 years
Re: yearn discussion. YFI holders are literally paid for doing governance, where governance is not just voting on proposals, it's actually having competence, legal ability, and putting efforts into charting a course through treacherous waters 1/3
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@_vshapovalov
Vasiliy Shapovalov
3 years
Will be speaking on #cosmoverse about liquid staking on Terra. Come listen, it'll be streamed!
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@_vshapovalov
Vasiliy Shapovalov
2 years
AAAAH I'M MEEERGING
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@_vshapovalov
Vasiliy Shapovalov
3 years
A grant from @LidoFinance had been allocated to @pintail_xyz to continue the work on measuring Ethereum's beacon chain validators' rewards in practice. This time for work on "how much would they earn if Altair hard fork was in effect".
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@_vshapovalov
Vasiliy Shapovalov
4 years
Sense some frustration at the USA legal code from this MobileCoin source code snippet
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@_vshapovalov
Vasiliy Shapovalov
2 years
@DegenSpartan I mean we've been open about price risks forever, loud about these risks for days and yesterday's intervention of extra LP incentive allowed many positions to unwind a lot.
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@_vshapovalov
Vasiliy Shapovalov
2 years
Lido in its current form is not the protocol I would want to get 80% of stake but we work on making Lido worthy of it. 6/
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@_vshapovalov
Vasiliy Shapovalov
4 years
@SBF_Alameda @JamesSpediacci Uniswap v1 and v2 have no governance, they're fully autonomous, except main frontend.
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@_vshapovalov
Vasiliy Shapovalov
2 years
@winsteadscap @fubuloubu Sound sleep > sound money
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@_vshapovalov
Vasiliy Shapovalov
3 years
@aeyakovenko @FigoETH @LidoFinance Lido has 14 node operators with significantly more boxes (even if a number of boxes number is not really important in the context) behind them. Eth2 has way more than 100 operators - I obv don't have a good estimation but my gut feeling is there are >1000 solo stakers.
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@_vshapovalov
Vasiliy Shapovalov
4 years
Excited to be one @iearnfinance multisig signers too using 0x6E83d6f57012D74e0F131753f8B5Ab557824507D address
@gauntlet_xyz
Gauntlet
4 years
We are a signer of the @iearnfinance multisig using 0x6626593c237f530d15ae9980a95ef938ac15c35c Thanks to @bantg , @AndreCronjeTech , and @_vshapovalov for adding us!
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@_vshapovalov
Vasiliy Shapovalov
2 years
Turned out there are a lot of good teams (we’re currently at 5 or 6 and they keep coming) who want to build the censorability meter for Ethereum. We’re doing an open RFP:
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@_vshapovalov
Vasiliy Shapovalov
3 years
Only @gakonst can get 50 likes on ethresearch post retweet
@gakonst
Georgios Konstantopoulos
3 years
Nice post by @_vshapovalov explaining that the beacon chain will have to face 2 problems that may clog the deposit/withdrawal queue: 1. rewards compounding 2. key rotation There are a few paths moving forward detailed in the post, def recommend reading.
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@_vshapovalov
Vasiliy Shapovalov
2 years
validator cap 😉
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@_vshapovalov
Vasiliy Shapovalov
3 years
Bitcoin maximalism is basically being sure that it's possible to design complex real-world software exactly right on the first time.
@fubuloubu
señor doggo 🏴🏴‍☠️ in his wartime ceo era
3 years
Here's what I don't get: when was the last time you wrote a software program designed to last for 100+ years?
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@_vshapovalov
Vasiliy Shapovalov
3 years
So people took Artem's shitty attack on geth as invitation to make shitty attacks on erigon. Ethereum core development is a thankless public good work, don't make it more miserable, please.
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@_vshapovalov
Vasiliy Shapovalov
3 years
A good one will get a small grant from Lido!
@hasufl
Hasu⚡️🤖
3 years
Please someone write the following article: XCMP <> IBC <> Optics
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@_vshapovalov
Vasiliy Shapovalov
3 years
@0xtuba You're asking the CEO of IOHK, founder of Cardano and Ethereum to understand what a linear state machine is?
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@_vshapovalov
Vasiliy Shapovalov
3 years
1/ Implications for proposal by @VitalikButerin Current APR for ETH2 staking is about 8%, the only rewards being rewards for attestations, filling slots, and whistleblowing, or slightly under 800ETH (illiquid though) for all the validators combined.
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@_vshapovalov
Vasiliy Shapovalov
3 years
Epicenter cuts straight to the heart of the matter, that was def a great talk!
@epicenterbtc
Epicenter Podcast
3 years
🚀NEW EPISODE🚀 @tw_tter and @seb2point0 chat to @_vshapovalov , CTO of @P2Pvalidator and co-founder of the @LidoFinance DAO, about all things #Ethereum staking and the benefits of liquid staking with Lido.
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@_vshapovalov
Vasiliy Shapovalov
3 years
Yeah DAO governance is hard but have tried organizing a tabeletop game night with your thirtysomething friends
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@_vshapovalov
Vasiliy Shapovalov
2 years
@koeppelmann @ercwl People vastly overestimate the power Lido has over node operators as of now, and underestimate the power ETH holders and the Ethereum community has over Lido policies. But that LDO power over block production has to be lower is an opinion I share wholeheartedly.
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@_vshapovalov
Vasiliy Shapovalov
11 months
Making unstaking possible and the staking market truly free was a priority that has left multiple people burned out on delivery. Most of the staking market is untapped. Just make something better for people to use.
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@_vshapovalov
Vasiliy Shapovalov
2 years
Great job from our masters of validators!
@LidoFinance
Lido
2 years
Today we release the first version of the 'Lido Node Operator Portal', a platform to consolidate all the information and resources related to being a Lido Node Operator in one place.
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@_vshapovalov
Vasiliy Shapovalov
2 years
Here at Lido we are expecting pressure from the Ethereum community and welcome it as a good thing for both Lido and Ethereum. This is how it should be: only the liquid staking protocols that are demonstrably good for Ethereum will be able to grow. 2/
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@_vshapovalov
Vasiliy Shapovalov
3 years
Execution environment constraints, massive bounty programs, open-source ethos, and security assessment culture will make defi the most stable of foundations.
@immunefi
Immunefi
3 years
As promised, we broke another record. @g3rh4rdw4gn3r found a bug in @0xPolygon 's plasma bridge that could have resulted in an $850m loss if exploited. The bounty payout is the largest: $2m. Bug fixed. Everyone is safe! A real win for all.
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@_vshapovalov
Vasiliy Shapovalov
2 years
We promote transparency over staking pools in Ethereum and regularly expand the validator set. We will share the actionable roadmap towards an eventually more trust-minimized, more predictable, governance minimized Lido. 5/
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@_vshapovalov
Vasiliy Shapovalov
3 years
@ercwl You're not alone
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@_vshapovalov
Vasiliy Shapovalov
2 years
@jai_bhavnani Tokens and custodial stablecoins on bitcoin, dexes and algorithmic stablecoins on bitshares, nfts on bitcoin.
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@_vshapovalov
Vasiliy Shapovalov
3 years
@aeyakovenko @FigoETH @LidoFinance We didn't run a through research on that: 3k hosts was an estimate I had based on monitoring+anecdotical data a while back. My gut feeling is these days the number of boxes is 2-3x higher and number of independent entities running them way lower than 3k.
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@_vshapovalov
Vasiliy Shapovalov
3 years
One of these is not like the others
@larry0x
Larry Engineer
3 years
how the top-50 DeFi protocols by TVL on Jan 1, 2021 have performed through this year, according to @DefiLlama "start" = Jan 1, 2021 "end" = today TVLs are in $ETH
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@_vshapovalov
Vasiliy Shapovalov
3 years
Ethereum hashpower had been very altruistic. Didn't explore MEV until recently (Ethereum had a lot of it since 2017-ish), no time bandits, very aligned with Ethereum vocally etc etc. I think it's because major pools are OG ETH believers (and whales) as well 1/
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@_vshapovalov
Vasiliy Shapovalov
3 years
@Fiskantes Will touch this in EthCC talk I'll be doing. The right way here is, IMO, to acknowledge the centralizing forces of MEV and staking (esp. liquid staking) and work through this with the best possible design out of a set of practical ones.
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@_vshapovalov
Vasiliy Shapovalov
3 years
A very important thread:
@LidoFinance
Lido
3 years
We are thrilled to present a detailed overview of Lido’s road to decentralization. In this post, we explain the thoughts that led to Lido’s current design and how we plan on transitioning Lido to a piece of fully trustless infrastructure.
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@_vshapovalov
Vasiliy Shapovalov
3 years
Congrats to @gakonst and @paradigm both!
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@_vshapovalov
Vasiliy Shapovalov
2 years
We want to be the best option. To that effect, we're (maybe not fast enough) working on making Lido more trustless, our stake more decentralized, and to be a better citizen of Ethereum. 4/
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@_vshapovalov
Vasiliy Shapovalov
2 years
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@_vshapovalov
Vasiliy Shapovalov
6 months
I think it's a fairly unique form of an audit, super proud to see it published
@e330acid
Eugene M
6 months
🧵 1/4 Great news for @LidoFinance 🚀 Just received a comprehensive role analysis report from the incredible @statemindio team, detailing their findings on the protocol's role setup as of EOY 2023. Thrilled to share the key insights! 🛡️
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@_vshapovalov
Vasiliy Shapovalov
3 years
4/ Which, with the current amount of ETH staked, amounts to ~68% to 250% APR, most of it liquid. The merge won't happen soon, but when it does - there will be an explosion in staking ETH.
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@_vshapovalov
Vasiliy Shapovalov
11 months
The ability of Ethereum to run coordination onchain, harnessing natural market forces in DeFi to drive decentralization on the beacon chain is a strength.
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@_vshapovalov
Vasiliy Shapovalov
3 years
LEGO process is extremely lightweight. Happy to get @dmihal working with us so quickly
@LidoFinance
Lido
3 years
A LEGO proposal has been submitted for the development and deployment of an incentivizable UNIv3 pool for the wstETH/ETH pair. The goal of the proposal is to provide a UX similar to Uniswap V2 while retaining the improved capital efficiency of V3.
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@_vshapovalov
Vasiliy Shapovalov
2 years
It's so weird people consider Coinbase on oDAO as a good thing for RocketPool. Assuming the protocol is unchanged, and CEX assimilation of the protocol continues, there is only one conclusion. Exchanges will run the majority of it using custodial liquid staking of ETH and RPL.
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@_vshapovalov
Vasiliy Shapovalov
3 years
That is a good response and I hope it'll help to put bad blood behind eventually
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@_vshapovalov
Vasiliy Shapovalov
2 years
I do not think that balanced diversity of liquid staking protocol is a worthy goal to pursue; I think that the right strategy is to push for the best protocol to win and for the winning protocol to be better. We're shaping our strategy around that, at least. 3/
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@_vshapovalov
Vasiliy Shapovalov
3 years
Short story, three chapters: 1. There's no MEV on Avalanche 2. Arbitrage is not MEV 3. If you want to arb on Avalanche, get a validator, or pay up your profits to a validator
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@_vshapovalov
Vasiliy Shapovalov
2 years
🐼
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@_vshapovalov
Vasiliy Shapovalov
3 years
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@_vshapovalov
Vasiliy Shapovalov
3 years
LEGO just funded support of DeFi developer roadmap repo by @officer_cia ! Thank you for your awesome guide for people dipping toes here.
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@_vshapovalov
Vasiliy Shapovalov
3 years
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@_vshapovalov
Vasiliy Shapovalov
2 years
What a day
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@_vshapovalov
Vasiliy Shapovalov
3 years
Doing morning check on stETH as collateral - pretty cool to see that @MakerDAO users are, on average, safe from liquidations!
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@_vshapovalov
Vasiliy Shapovalov
1 year
@pseudotheos Rocketpool, for: - a dedication and vision that kept them building through the bear market - building an incentive structure and support network for the category of stakers that Ethereum wants to have - well-thought-out design of smart contracts
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@_vshapovalov
Vasiliy Shapovalov
3 years
Lido's grant program is extremely streamlined and hassle-free. Come build things for @LidoFinance
@LidoFinance
Lido
3 years
With LEGO we aim to provide resources to developers interested in working on Lido improvements across all categories.
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@_vshapovalov
Vasiliy Shapovalov
3 years
Happy to have you in Lido!
@arjunblj
Arjun Balaji
3 years
. @paradigm has transferred 15,120 ETH to LidoDAO as a part of the LDO Treasury Diversification proposal 🏝
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@_vshapovalov
Vasiliy Shapovalov
2 years
@hasufl That's good for security but not great for composability. Double edged sword.
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@_vshapovalov
Vasiliy Shapovalov
2 years
Looks like I won at telegram
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@_vshapovalov
Vasiliy Shapovalov
3 years
@RAC This argument is weak imo. Sure, the blocks will be going no matter what but tx demand directly influences both fees and eth price, which influence amount of electricity spent on hashpower.
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@_vshapovalov
Vasiliy Shapovalov
2 years
@MonetSupply @ImperiumPaper @LidoFinance Exactly. stETH peg is not the holy cow to defend, just needs a bit of stability right now in the bloodbath.
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@_vshapovalov
Vasiliy Shapovalov
6 months
Awesome piece by cyber's awesome researchers
@cyberFund_
cyber•Fund
6 months
Have you ever wondered → what Account Abstraction really is? → how exactly ERC-4337 unlocks Ethereum mass adoption? → how the AA space evolves on the business side? → how @argentHQ , @safe and @avowallet use AA? Yes? Then read – thread below! 🧵
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@_vshapovalov
Vasiliy Shapovalov
7 months
👀
@cyberFund_
cyber•Fund
7 months
cyber•Genesis — 12.14.2023
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@_vshapovalov
Vasiliy Shapovalov
3 years
@trent_vanepps @ssaintleger 1) IBC was not a thing until very recently and even now only has basic composability features and underdeveloped ecosystem 2) getting a robust validator set is hard With IBC getting better and shared security (e.g. @CelestiaOrg ) Cosmos will become more attractive.
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@_vshapovalov
Vasiliy Shapovalov
4 years
Happy new year everyone!
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@_vshapovalov
Vasiliy Shapovalov
3 years
@MonetSupply
monetsupply.eth
3 years
Many thanks to Irina Katunina, Eugene Pschenichniy, Victor Suzdalev, Vasily Shapovalov, and Nikolai Abelyashev of the @LidoFinance community for providing high quality research and data that formed the basis of this analysis 🙏
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@_vshapovalov
Vasiliy Shapovalov
2 years
@hexonaut Not risk free! StETH had small depegs in the past, can happen in future as well + tail risks like smart contract, oracle etc.
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