Cycles @cyclesmoney Twitter profile

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Cycles

5 months

Soon we’ll release the @cyclesmoney whitepaper on a new financial paradigm, so here's a few things you should know to prepare yourself. We know that blockchains, crypto, and defi apps have long promised to replace banks and finance. But there’s a lot of problems with this 🧵

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Cycles

@cyclesmoney

3 months

We’ve been quiet the last few weeks, putting the final touches on our whitepaper and new website. The whitepaper is under review by many of our Cosmos & Ethereum friends And the website is now live 🎉

Cycles: Respect the Graph

The Open Clearing Protocol.

cycles.money

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Cycles

@cyclesmoney

4 months

We’re building the initial version of @cyclesmoney using the best blockchain tech stack around: @cosmos . Our privacy architecture is built around a TEE-based CosmWasm sidecar process, with thoughtful protocol design to reduce TEE attack vectors, and with ZK proofs for integrity.

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Cycles

@cyclesmoney

4 months

1/ We’re excited to announce that Andrew Miller joined our team last summer to lead Cycles protocol design, with a focus on secure privacy for payments and credit via TEEs & ZKPs. There’s few people better positioned for this kind of protocol design work than @socrates1024

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Cycles

@cyclesmoney

3 months

Something incredible is happening among crypto OGs. The realization that money is more than store of value. That finance is more than the transfer and exchange of assets. That there's a whole other side of the balance sheet.

zooko🛡🦓🦓🦓 ⓩ

@zooko

3 months

Okay, I’m getting excited again by this whole “uninventing money”/“post-money” idea that Chris Goes, Ethan Buchmann, and Andrew Miller have been on about for years. (WARNING: long rambling thread ahead with no “TLDR” summary.) ⤵️

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Cycles

@cyclesmoney

2 months

Wonder what the killer use case of blockchains is? Cross-border payments? Fungible (or not) tokens? Decentralized global currency? We’ll let you in on a secret. The killer use case is: atomic multilateral settlement. What’s that? Let’s break it down👇

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Cycles

@cyclesmoney

7 days

Cycles is the Open Clearing Protocol. Mission? To clear the most debt with the least amount of money. Why? To take down barriers in the global market of deferred payments, from trade credit, to rents, wages, interest payments, and beyond.

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Cycles

@cyclesmoney

3 months

But don’t worry. Cycles is coming to take care of you. It’s time for blockchains to start making a real difference in the world. Time to move the financial system from an unhealthy obsession over asset aggregates to a healthy romance with the obligation graph. Respect the Graph.

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Cycles

@cyclesmoney

5 months

If the Hub will have us ... Cycles 🤝 Interchain Capital

All-in CosmosMc

@EugeneMclaurin

5 months

Hopefully this is incorporated into the Hub. $ATOM

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Cycles

@cyclesmoney

3 months

Be sure to scroll slowly through the story and take in the emotion of it all. You’ve been systematically excluded from the benefits of clearing and issuance by the banking system for 100s of years, and your blockchain friends have completely failed to understand this correctly

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Cycles

@cyclesmoney

5 months

astonishing how little monetary policy innovation there is in crypto given that’s kind of the whole point. everyone nerd-sniped by mechanism design before they get to rebuilding money

Sam Hart

@hxrts

5 months

astonishing how little monetary policy innovation there is in crypto given that’s kind of the whole point. everyone nerd-sniped by mechanism design before they get to rebuilding money

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Cycles

@cyclesmoney

3 months

Have you checked out our website yet? Any feedback? How about the light mode?

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Cycles

@cyclesmoney

3 months

As for the whitepaper, if you feel like you would like to receive a draft and provide feedback, please reach out!

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Cycles

@cyclesmoney

5 months

This kind of open platform for clearing debts might be one of the most impactful applications of blockchains and best use cases for defi. A multilateral clearing and settlement system can save all its participants liquidity and reduce risk, both individually, and systemically.

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Cycles

@cyclesmoney

5 months

The real power of banking/finance institutions doesn't come from transferring assets, but from clearing debts. For centuries, finance institutions formed closed clearing clubs that enabled them to coordinate with strict rules to clear huge amounts of debt with little or no money

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Cycles

@cyclesmoney

5 months

If you want to keep up to date with the future of payments and credit, and one of the most impactful projects in crypto, follow us at @cyclesmoney .

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Cycles

@cyclesmoney

2 months

The path to Real World Assets is through Real World Debts. Study

Cycles: Respect the Graph

The Open Clearing Protocol.

cycles.money

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Cycles

@cyclesmoney

5 months

Crypto has remained a highly speculative enterprise with limited impact. It’s focused on the idea of a "bank account in your pocket". The freedom to hold counterparty-free assets and transact them permissionlessly. Glorious, and important! But not the whole story.

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Cycles

@cyclesmoney

5 months

Blockchains, for their part, have liberated settlement from the confines of banking clubs. With blockchains, anyone can permissionlessly transfer value. With Cycles, anyone can permissionlessly clear their debt, too.

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Cycles

@cyclesmoney

5 months

And we’re hiring. Check out the open positions: Full Stack Eng: Rust Eng:

Rust Developer, Cycles

Rust Developer - Cycles Team Full Time Canada, UK, USA, Remote About the Cycles team The Cycles team (previously known as CoFi, see thread) at Informal Systems is part of an early stage startup...

informalsystems.bamboohr.com

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Cycles

@cyclesmoney

5 months

But these clearing clubs are not accessible to the general public. The public only has access to settlement - they have to use banks to transfer cash balances, leading to gridlock and liquidity crises.

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Cycles

@cyclesmoney

5 months

Respect the Graph.

Ethan Buchman (🐝,🦇)

@buchmanster

5 months

We’ve been popularizing the CoFi meme as a vision for DeFi protocols that emphasize the inherent graph structure of payment & credit systems. It’s time to start sharing our work on the actual product and protocols that will bring this vision to life. Introducing @cyclesmoney :

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Cycles

@cyclesmoney

4 months

For now, stay tuned for the whitepaper. And remember to Respect the Graph.

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Cycles

@cyclesmoney

3 months

Follow us on twitter and subscribe on the website at to be notified when the whitepaper drops. And always remember to Respect the Graph.

Cycles: Respect the Graph

The Open Clearing Protocol.

cycles.money

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Cycles

@cyclesmoney

4 months

Longer term, we plan to enhance the privacy offering beyond the encrypted graph, for instance by integrating more closely with @anoma 's Multi-Asset Shielded Pool. We’ll also provide more direct ways for external lending protocols to take advantage of the benefits of Cycles.

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Cycles

@cyclesmoney

1 month

Want to help clear the most debt for the most people with the least money? Experienced with sales and BD in crypto/finance/payments? We're hiring a Business Development Manager for Cycles:

Business Development Manager - Cycles Protocol

Business Development Manager - Cycles Protocol Full Time Remote (Canada, US) About the Cycles Team The Cycles team at Informal Systems is part of a startup effort within the company that is...

informalsystems.bamboohr.com

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Cycles

@cyclesmoney

4 months

Cycles is designed to natively support assets from across the IBC ecosystem, allowing any token to be used to clear debts. And ICA will allow Cycles to leverage external IBC lending protocols like @mars_protocol , @TeamKujira , @inter_protocol , etc. in an optimized fashion.

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Cycles

@cyclesmoney

4 months

With a @CosmWasm base, Cycles becomes a premier place to develop and integrate lending and issuance protocols that plug directly into the obligation graph, and benefit from its liquidity saving and risk reducing properties.

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Cycles

@cyclesmoney

4 months

Cycles is also designed to support integrations with Ethereum, allowing Ethereum assets and lending protocols to connect into the Cycles clearing graph, unlocking new use cases for Ethereum DeFi protocols like @MakerDAO , @Aave , @compoundfinance , etc.

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Cycles

@cyclesmoney

3 months

Interested in working with us? We’re hiring

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Cycles

@cyclesmoney

3 months

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Cycles

@cyclesmoney

2 months

Charlie’s takeaways on Cycles are spot on: 1. Real World DeFi 2. Respect the Graph 3. Natural evolution of @cosmos

Charlie Morris

@chtmorris

2 months

Been digging into @cyclesmoney , led by @buchmanster , @socrates1024 and the @informalinc team. It’s a fascinating new protocol and I have 3 takeaways 🧵

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Cycles

@cyclesmoney

2 months

Cycles leading the comeback for triple entry accounting and real-world impact 💪

Aryan

@Aryonchain

2 months

Last year at @modular_summit , I saw @buchmanster reveal the vision for @cyclesmoney . Today, I understand it as one of the most elegant and fundamental applications of IBC and blockchain tech. Let's dive in. 🧵

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Cycles

@cyclesmoney

4 months

Want to help build the future of payments, credit, and DeFi? We’re Hiring: Full Stack: Rust: BD:

Business Development Lead (B2B Fintech) - Cycles Protocol

Business Development Lead (B2B Fintech) - Cycles Protocol Full Time Remote (Canada, US, UK) About the Cycles Team The Cycles team at Informal Systems is part of a very early stage startup effort...

informalsystems.bamboohr.com

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Cycles

@cyclesmoney

4 months

5/ On a sabbatical for a couple years from his professor position at UIUC, he is now splitting his time between Flashbots and Cycles. Want to work with Andrew? We’re hiring: Full Stack Eng: Rust Eng:

Rust Developer, Cycles

Rust Developer - Cycles Team Full Time Canada, UK, USA, Remote About the Cycles team The Cycles team (previously known as CoFi, see thread) at Informal Systems is part of an early stage startup...

informalsystems.bamboohr.com

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Cycles

@cyclesmoney

13 days

cosmwasm? more like ********

Osmosis 🧪

@osmosiszone

13 days

@ericzhang90 @DoraHacks Ethan Buchman, CEO of Informal Systems, presents: 'Privacy Preserving Sidecar for CosmWasm' @buchmanster @informalinc @cyclesmoney

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Cycles

@cyclesmoney

14 days

Private compute for any @CosmWasm chain

barry | skip (🥧,📈) — HIRING ENGINEERS

@BPIV400

14 days

3/ @buchmanster covered how @cyclesmoney is developing a framework that combines the best of TEEs, ZKPs, and consensus to make programmable private compute easy: - Consensus protects against side channel attacks - The TEE provides privacy guarantee - The ZKP proves correctness

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Cycles

@cyclesmoney

2 months

That’s where @cyclesmoney comes in. Cycles makes atomic multilateral settlement accessible to anyone to clear their debts, allowing anyone to save liquidity by participating in a global multilateral settlement operation. And this is the killer use case of blockchains.

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Cycles

@cyclesmoney

1 month

Excited to be working with the @inverternetwork on bringing the power of network liquidity to SMEs in Turkey

Ataberk Casur

@degentellect

1 month

Discovering @cyclesmoney , I was awakened to a power I was never aware of: the liquidity you seek is within you (your network graph)🌐🔄 /🧵

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Cycles

@cyclesmoney

2 months

Last year at @modular_summit , we started sharing our vision for an open clearing protocol built by modularizing the functions of money. And we’ll be coming back this year with a whitepaper and an MVP!

Bram Van Roelen

@bram_m11

2 months

1/ Last year at the @modular_summit in Paris, I saw @buchmanster unveil his vision for @cyclesmoney . This project to me is one of the most compelling use-cases of blockchain technology today. 🧵

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Cycles

@cyclesmoney

1 month

Great thread unpacking some of the benefits and mechanics of Cycles

John Montagu

@EarlMontagu

1 month

We've all heard about @cyclesmoney by now; a clearing protocol aiming to challenge the concept of money... So what does that mean? How does Cycles work? And more importantly... wtf is Obligation Clearing? An ELI5 🧵 on Cycles:

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Cycles

@cyclesmoney

4 months

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Cycles

@cyclesmoney

5 months

Don't worry degens, we're not gonna forget about you. In fact we hope to make your pioneering work on permissionless lending protocols much more powerful 💪

zkFART

@evansforbes

5 months

> combines balance sheets and graph theory God this phrase is just such a banger. @cyclesmoney might not explode in popularity like some degen defi, but, it'll be insanely sticky one day we'll look up and some flavor of it will be the predominant backend of payments

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Cycles

@cyclesmoney

5 months

We're ready 💪

Christopher Goes

@cwgoes

5 months

the @anoma application model gives developers FOR FREE: - generalized programmable disclosure - maximally concurrent execution - heterogeneous trust sharding and interoperability - programmable distributed storage & compute are you ready

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Cycles

@cyclesmoney

7 days

Cycles is an extensible platform for using and building currency and credit protocols to settle more debt with less money. It forms a new foundation for thinking about problems in economics and finance using graph theory. Respect the Graph.

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Cycles

@cyclesmoney

2 months

Want to make atomic multilateral settlement a reality for the world's businesses? We're hiring a business development lead:

Business Development Lead - Cycles Protocol

Business Development Lead - Cycles Protocol Full Time Remote (Canada, US, UK) About the Cycles Team The Cycles team at Informal Systems is part of a very early stage startup effort within the company...

informalsystems.bamboohr.com

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Cycles

@cyclesmoney

7 days

Cycles does all this by making obligations a first class primitive, building a graph of obligations and liquidity, and solving for the min-cost max-flow through the network. Its graph flow optimization.

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Cycles

@cyclesmoney

3 months

Love it when our efforts elicit poetry from the best teams

zpedro.eth | .lens

@zpedrongmi

3 months

@Zac_Aztec @buchmanster Once upon a time, in a land far, far away, there lived a version of Noir that was compatible with a Halo2 backend. Then one day we were on an team offsite and Elon Musk showed up from a mushroom cloud and said: “Hark and attend, ye noble assembly! For it is thine to comprehend

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Cycles

@cyclesmoney

5 months

Save liquidity, save the world🫡🌱

jgc

@jgcfyi

5 months

Very excited to follow along with this. In the long run it feels like there is a clear path to changing the face of our home places with protocols like this

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Cycles

@cyclesmoney

7 days

Cycles uses a unique advantage of blockchains, in that flows are executed on-chain as atomic multilateral settlements. It uses TEEs + ZKP for privacy and integrates with existing crypto and DeFi systems to make them more useful for real world payments and working capital.

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Cycles

@cyclesmoney

5 months

@LHerfel @Mhz714 It means offsetting debts. If I owe you $10 and you owe me $10, we don't need to pay each other any money, we can just clear the debts against each other. Like Splitwise. Banks do this to the tune of trillions, but everyone else is excluded!

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Cycles

@cyclesmoney

7 days

This flow optimization saves liquidity and reduces risk for all parties involved, from SMEs to large corps, individuals, governments and DAOs, and it opens new opportunities to intelligently manage credit in an economy.

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Cycles

@cyclesmoney

2 months

This is super powerful. But it’s even more powerful when operations involve multiple stakeholders. Blockchains are fundamentally multi-stakeholder distributed databases. Which makes them particularly well suited for a specific kind of atomic operation: settlement.

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Cycles

@cyclesmoney

4 months

4/ Andrew’s been interested for some time in building ZK credit networks. Cycles provides the most advanced and powerful framework for building new kinds of credit systems. So it was obvious we should work together.

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Cycles

@cyclesmoney

4 months

2/ Andrew’s one of the most prolific researchers and builders in the space, from his early work on Bitcoin sidechains to Honeybadger BFT to ZCash to private smart contracts and more.

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Cycles

@cyclesmoney

2 months

On the other hand, banks do atomic multilateral settlement operations every day when they meet at the clearing house. They settle massive amounts of debt this way, saving literally trillions in liquidity. But what about the rest of us?

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Cycles

@cyclesmoney

2 months

Blockchains are synchronous databases that specialize in “atomic” operations. These are operations that execute either entirely or not at all - either every part of your transaction succeeds, or the whole thing is rolled back (excluding fees)

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Cycles

@cyclesmoney

4 months

3/ Andrew was the first person to notice that Bitcoin satisfied the Byzantine Generals Problem. He is also acknowledged in the original @cosmos whitepaper for feedback on Tendermint consensus. His (and others) sidechain work was a major inspiration for @cosmosibc .

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Cycles

@cyclesmoney

2 months

So what’s atomic multilateral settlement? It’s a settlement operation that occurs across multiple people, all at once. We generally don’t experience this much in real life, other than when we split a bill with our friends or use Splitwise.

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Cycles

@cyclesmoney

5 months

@Mhz714 @LHerfel Because we generalize to all payments. There is profound inefficiency in payments that this addresses, and it unlocks powerful new use cases for crypto. See

Ethan Buchman (🐝,🦇)

@buchmanster

5 months

Bringing these obligations natively on-chain offers profound new capabilities for payment systems that are inherently risk-reducing and liquidity-saving, and unlock new use cases for cryptocurrencies. See my talk from @modular_summit :

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Cycles

@cyclesmoney

5 months

@LHerfel @Mhz714 Think bigger :)

Cycles

@cyclesmoney

5 months

@Mhz714 @LHerfel Because we generalize to all payments. There is profound inefficiency in payments that this addresses, and it unlocks powerful new use cases for crypto. See

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Cycles

@cyclesmoney

2 months

To learn more, subscribe for our upcoming whitepaper at

Cycles: Respect the Graph

The Open Clearing Protocol.

cycles.money

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Cycles

@cyclesmoney

2 months

In some sense, any blockchain transaction involving pooled liquidity, like an AMM or lending protocol, is atomic multilateral settlement, in that the positions of many participants change simultaneously. But it’s still veiled by a smart contract, and not part of direct payments.

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Cycles

@cyclesmoney

6 days

@Laloquidity Any deferred payment could benefit. For instance a business that has accounts payables and receivables. Instead of having to collect the receivable in cash to pay the payable, both can just be set off, if they're part of a cycle. But we will do a whole thread on examples!

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