Matt Luongo ✜ Profile
Matt Luongo ✜

@mhluongo

11,361
Followers
1,923
Following
256
Media
18,728
Statuses

Founder @thesis_co building @fold_app , @tbtc_project @theTNetwork @MezoNetwork @taho_xyz @embodySpace & @acreBTC #bitcoin

Atlanta, GA
Joined September 2008
Don't wanna be here? Send us removal request.
Pinned Tweet
@mhluongo
Matt Luongo ✜
5 months
Bitcoin is having a moment. It's the ETF, it's Ordinals, it's the Halving, it's BitVM, it's @TaprootWizards and @Stacks , it's a wave of Bitcoiners who are ready to use BTC as an active asset again. Thankfully, we've built a bridge for that ☺️
15
40
144
@mhluongo
Matt Luongo ✜
7 years
"Zero-knowledge proofs, Zcash, and Ethereum", my third post on privacy on the blockchain #zcash #ethereum
17
165
2K
@mhluongo
Matt Luongo ✜
4 years
Okay, we're doing this. tBTC is being deployed to mainnet. Buckle up. #bitcoin #ethereum 💏
58
145
892
@mhluongo
Matt Luongo ✜
2 years
@TheDeFinvestor @TheTNetwork is shipping 2 years of dev to mainnet with tBTC this month. Mega prolific across the @keep_project and @NuCypher teams
10
39
522
@mhluongo
Matt Luongo ✜
5 years
1/ The cat's out of the bag. For the last 10 months, the @keep_project team, building on the work of @summa_one , has been quietly building a trustless bridge from Bitcoin to Ethereum. The spec is up at .
@antiprosynth
antiprosynthesis.eth ⟠
5 years
$BTC trustlessly tokenized on #Ethereum through locking and overcollateralization with $ETH.
21
54
230
41
207
709
@mhluongo
Matt Luongo ✜
1 year
It's 2023, and we still don't have proper ETH and BTC interoperability. Until today. 🧵👇
@VitalikButerin
vitalik.eth
4 years
We should put resources toward a proper (trustless, serverless, maximally Uniswap-like UX) ETH <-> BTC decentralized exchange. It's embarrassing that we still can't easily move between the two largest crypto ecosystems trustlessly.
607
585
4K
46
112
501
@mhluongo
Matt Luongo ✜
4 years
1/ Big day. After 3 months of testing, tweaking, and auditing, we've launched tBTC rc.1 on mainnet. I expect it will be the final release candidate for tBTC. #bitcoin #ethereum 💏
24
107
511
@mhluongo
Matt Luongo ✜
4 years
tBTC lasted on mainnet two days. Alas, it was born before it's time. Goodnight, sweet prince🌹 We've pulled the red lever, pausing deposits for the next 10 days, and are helping users drain funds. We'll publish a full post-mortem when confirmed... and we will rise again.
69
96
416
@mhluongo
Matt Luongo ✜
3 years
1/ This Friday, August 20th, will mark the 1 year anniversary of @MetaMask stepping away from free and open source licensing.
Tweet media one
140
89
410
@mhluongo
Matt Luongo ✜
4 years
1/ I'm proud to announce the first release of #tBTC on Ropsten. #Bitcoin
@mhluongo
Matt Luongo ✜
5 years
1/ The cat's out of the bag. For the last 10 months, the @keep_project team, building on the work of @summa_one , has been quietly building a trustless bridge from Bitcoin to Ethereum. The spec is up at .
41
207
709
19
106
378
@mhluongo
Matt Luongo ✜
3 years
1/ Recently, a couple @keep_project and @nucypher community members reached out to broker a call. Two whirlwind weeks later, and the teams are putting a joint proposal in front of our communities. The proposal? To join forces in the first on-chain protocol hard merge.
8
55
258
@mhluongo
Matt Luongo ✜
3 years
Looking for a senior back end engineer to democratize Web3. $10k in $BTC or $ETH for a successful referral
25
46
244
@mhluongo
Matt Luongo ✜
4 years
After months of flirting, it's time to make Bitcoin and Ethereum kiss 🥰 @bloomberg 's all over it - check out this piece by @mattleising on what bringing Bitcoin to Ethereum might mean for both chains and communities. #tBTC goes live on April 27th.
18
60
235
@mhluongo
Matt Luongo ✜
4 years
This is why I get so frustrated. #bitcoin #ethereum
21
24
204
@mhluongo
Matt Luongo ✜
4 years
Tweet media one
25
39
212
@mhluongo
Matt Luongo ✜
4 years
There are now more than 1k tBTC in existence on Ethereum 🎉 #bitcoin #ethereum 💏
Tweet media one
12
34
184
@mhluongo
Matt Luongo ✜
4 years
I'm proud to share the first TBTC minted on mainnet 😎
Tweet media one
6
35
168
@mhluongo
Matt Luongo ✜
4 years
Late night with @justinsuntron . Finally ready to announce what the 't' in tBTC stands for... #TRON . Sorry Ethereum.
Tweet media one
6
29
155
@mhluongo
Matt Luongo ✜
3 years
Until recently, I've struggled with the @Uniswap v3 passive LP hurdles.. but damn, when it works, it works. $92k TVL backed $1.34m in 24h hour volume, and earned $13.41k in fees. Looks like an entrepreneurial LP set up a 1% v3 pool and is cleaning the v2 pool's clock
Tweet media one
6
22
156
@mhluongo
Matt Luongo ✜
10 months
1000 BTC just landed. tBTC is going parabolic.
Tweet media one
14
27
163
@mhluongo
Matt Luongo ✜
4 years
We've just published an extensive incident analysis of the tBTC pause on May 18th, including a response timeline, bug fix, and process improvements. Thanks to @lightfiend @_prestwich @SloanThompson @LauraWallendal and others for getting this out.
@mhluongo
Matt Luongo ✜
4 years
tBTC lasted on mainnet two days. Alas, it was born before it's time. Goodnight, sweet prince🌹 We've pulled the red lever, pausing deposits for the next 10 days, and are helping users drain funds. We'll publish a full post-mortem when confirmed... and we will rise again.
69
96
416
7
40
149
@mhluongo
Matt Luongo ✜
5 years
I was the guy that said we might have to one day raise the Bitcoin supply cap. Fight me.
@WayneVaughan
Wayne Vaughan
5 years
Discussion at Satoshi Roundtable this morning: Lightning will suppress tax fees. What about the Bitcoin fee market? Well, we might have to introduce a low inflation rate to Bitcoin once the block reward gets too low. cc: @twobitidiot
83
33
142
74
30
137
@mhluongo
Matt Luongo ✜
4 years
Who wants to peer review a new money lego?
49
4
139
@mhluongo
Matt Luongo ✜
4 years
1/ Next week, we'll finally share the last 3 years of our work with the world. We're taking @keep_project and #tBTC to mainnet. As we move forward, I wanted to share exactly what that looks like so you'll know what to expect, when.
3
35
132
@mhluongo
Matt Luongo ✜
3 years
Do users want to have the same address on every Ethereum L2?
37
5
125
@mhluongo
Matt Luongo ✜
3 years
5/ We’ve put together a small team to ship a wallet that’s built for a new, open internet. That means a wallet ecosystem that is ⚖️ fairly launched 🤲 sustainably aligned with users 👪 wholly owned and governed by the community
1
6
131
@mhluongo
Matt Luongo ✜
4 years
@fubuloubu @peter_szilagyi @latetot This is a fucking irresponsible way to run client development.
6
7
121
@mhluongo
Matt Luongo ✜
3 years
6/ What does a wallet for a new, open internet look like? At launch, @tallycash will focus on DeFi, with follow up releases including native L2 and NFT support.
Tweet media one
3
14
124
@mhluongo
Matt Luongo ✜
4 years
11/ Our first incentive program will launch with @NexusMutal . $NXM holders that stake to provide cover for tBTC minters will be rewarded by KEEP, weekly. This program means any depositor will be able to buy cover for their deposits through the Nexus Mutual dApp.
13
17
122
@mhluongo
Matt Luongo ✜
5 years
The highest-value currency in the crypto space? Your reputation.
5
28
113
@mhluongo
Matt Luongo ✜
4 years
Man, what's @Blockstream 's excuse with this 2-of-3 thing @notgrubles ? Funny that our goof never risked depositor funds or gave us centralized custody 😳
3
20
108
@mhluongo
Matt Luongo ✜
5 years
@keep_project @summa_one @Truthcoin 10/ Solving this problem means bringing DeFi to Bitcoin- and Bitcoin to DeFi. Imagine taking out stablecoin loans against your Bitcoin with @MakerDAO , earning interest on your Bitcoin with @compoundfinance , and trading Bitcoin with @Uniswap - without counterparty risk.
5
15
107
@mhluongo
Matt Luongo ✜
4 years
1/ I've been thinking a lot about "money crypto" versus "tech crypto" lately. Working on a project to bring Bitcoin to Ethereum will do that to you I guess.
6
19
107
@mhluongo
Matt Luongo ✜
4 years
My 2-yo daughter just walked into my "office", handed me a copy of the Cypherpunk Manifesto, and walked out.
6
2
108
@mhluongo
Matt Luongo ✜
1 year
omg
Tweet media one
18
12
108
@mhluongo
Matt Luongo ✜
4 years
$7.53M in ETH is already backing the tBTC bridge... and that's before we've opened up the public stakedrop 😳 The release is guarded for BTC depositors, but stakers are still gearing up.
5
15
101
@mhluongo
Matt Luongo ✜
4 years
If I want to give out grants to improve Bitcoin development and tooling... where would I do that? What needs the most improvement?
45
15
96
@mhluongo
Matt Luongo ✜
3 years
I bet the @THORChain team feels embattled, fighting off "haters". It's a natural response. But after an incident like this is exactly when you should slow down, self reflect, and learn a little humility. Screw the token price, consider your reputation. And ya know. User safety.
3
6
97
@mhluongo
Matt Luongo ✜
4 years
Rough day to be running a large-scale non-compliant custodial service 😅
3
7
90
@mhluongo
Matt Luongo ✜
3 years
@udiWertheimer we can all agree that you're the worst
2
1
90
@mhluongo
Matt Luongo ✜
1 year
1/ Excited to see this proposal from @wormholecrypto on the Threshold governance forum. TL;DR: Wormhole's proposal would bring @tBTC_project to 20+ chains, and induce up to 26,000 BTC ($780M) in value bridged through the system. Let's dig in 👇
8
34
82
@mhluongo
Matt Luongo ✜
2 years
is it time to learn Rust
13
6
92
@mhluongo
Matt Luongo ✜
5 years
"Don't be a dick" "Bitcoin doesn't care whether or not you're a dick." "I do."
1
10
92
@mhluongo
Matt Luongo ✜
5 years
I've just published our proposal to the @ZcashFoundation to work alongside the @ElectricCoinCo as a major dev fee recipient, and our vision @thesis_co for Zcash as the privacy layer for the Internet of Money. @zooko beat me to the punch here 👇
@zooko
zooko🛡🦓🦓🦓 ⓩ
5 years
Well this is interesting! Matt Luongo of Thesis/Fold/Keep/tBTC has a proposal for the Zcash community:
9
24
92
8
20
89
@mhluongo
Matt Luongo ✜
3 years
Anyone else frustrated to see services support EVM-compatible L1s before L2s? What's the deal?
23
4
91
@mhluongo
Matt Luongo ✜
4 years
14/ It's time to make Bitcoin and Ethereum kiss. #bitcoin #ethereum 💏
5
6
87
@mhluongo
Matt Luongo ✜
3 years
1/ In 2021, we're scaling Bitcoin on Ethereum. #bitcoin #ethereum 💏
4
22
85
@mhluongo
Matt Luongo ✜
4 years
Having one of those "disgusted with crypto" kinda days
13
2
87
@mhluongo
Matt Luongo ✜
5 years
3
14
85
@mhluongo
Matt Luongo ✜
4 years
What does a "fair launch" mean when the same players are showing up to mine liquidity, over and over? Fair to whom?
5
9
88
@mhluongo
Matt Luongo ✜
4 years
We've just published our plans for the tBTC's relaunch
@mhluongo
Matt Luongo ✜
4 years
We've just published an extensive incident analysis of the tBTC pause on May 18th, including a response timeline, bug fix, and process improvements. Thanks to @lightfiend @_prestwich @SloanThompson @LauraWallendal and others for getting this out.
7
40
149
4
14
87
@mhluongo
Matt Luongo ✜
4 years
Congrats, if you're holding tBTC you can sell now for a premium of $1k over BTC.
11
7
87
@mhluongo
Matt Luongo ✜
5 months
tBTC is powering a new generation of Bitcoin L2s... and you're not staking @TheTNetwork anon?
19
16
82
@mhluongo
Matt Luongo ✜
7 months
Next year is going to be a Bitcoin L2 arms race.
8
9
82
@mhluongo
Matt Luongo ✜
3 years
4/ The most popular gateway to Web3 today — and many users’ first introduction to Ethereum — is restrictively licensed, exclusively enriching a small number of corporate owners, including JP Morgan. We can do better.
3
6
81
@mhluongo
Matt Luongo ✜
4 years
Congratulations to the entire Zcash community! 🎉 $ZEC
@ElectricCoinCo
Electric Coin Co.
4 years
We are thrilled(!!) to announce that Electric Coin Co. and @ZcashFoundation have approved a modified ZIP 1014, which funds #Zcash development for another 4 years — starting at NU4 activation. $ZEC #ZcashDevFund
6
35
149
0
6
77
@mhluongo
Matt Luongo ✜
4 years
A sidechain that's backed by the full discretion of a 2-of-3 multisig. Smdh, looks like @WrappedBTC has a stronger fundamental trust model than @Liquid_BTC .
5
14
76
@mhluongo
Matt Luongo ✜
4 years
Man I've missed users- long build-outs are rough. Excited to grow and get more people using this thing
4
2
77
@mhluongo
Matt Luongo ✜
4 years
Excited to be working with @samczsun and @trailofbits on the second tBTC audit- watch the repo to see their work in real time!
@devops199fan
devops199fan 🔪📜😅 ⌐◨-◨
4 years
@samczsun (now @trailofbits ) started filing issues against #tBTC @keep_project 🔥💯
4
7
37
2
7
77
@mhluongo
Matt Luongo ✜
4 years
This is why we open source, folks 🤦‍♂️
10
11
74
@mhluongo
Matt Luongo ✜
4 years
1/ The first phase of tBTC's launch happened Monday. At the end of the week, @keep_project stakers will come online, and after a week of bootstrapping, user deposits will open up. Time to talk deposit security before anyone gets crazy. Here's a thread on tBTC's security 👇
2
17
77
@mhluongo
Matt Luongo ✜
4 years
12/ I'm also proposing what I expect will be a big boon to early liquidity- a new @CurveFinance $tBTC pool. Curve will allow early tBTC minters to build liquidity and, soon, to mine rewards.
3
7
67
@mhluongo
Matt Luongo ✜
4 years
Most importantly, though, thanks to the Ethereum and Bitcoin communities. I know you don't always get along, but... we don't give a crap. It's time to interoperate! #bitcoin #ethereum 💏
4
9
76
@mhluongo
Matt Luongo ✜
5 years
Slides from my workshop with @_prestwich about bridging Zcash and Ethereum - thanks for having us! #zcon1 @ZcashFoundation @least_nathan
2
19
73
@mhluongo
Matt Luongo ✜
5 years
1/ My tBTC talk from Devcon just went live! Here's the tweet version:
2
21
74
@mhluongo
Matt Luongo ✜
5 years
Hey $LINK army. I'm a dev doing a cool thing that needs a price oracle, and let me be clear- I have absolutely no interest in using your Rube Goldberg machine. Thanks!
@Crypto___Oracle
⬡ The_Crypto_Oracle ⬡
5 years
@mhluongo @ChainLinkGod @chainlink Multi-sig, multi-source, data aggregator, data verifier, data authenticator via TEEs, off-chain computation, reputation system for evaluating trust based on on-chain metrics, marketplace for data
1
1
29
40
8
67
@mhluongo
Matt Luongo ✜
7 months
In 2024 we bring builders back to Bitcoin. Buckle up!
8
14
72
@mhluongo
Matt Luongo ✜
3 years
@kelseyhightower Show me a Web2 project that isn't about turning users into the product. That isn't about squeezing us for data, slowly and systematically undermining our shared belief in a right to privacy. Go on. I'll wait.
61
10
76
@mhluongo
Matt Luongo ✜
5 years
@_charlienoyes
Charlie Noyes
6 years
Do it in a decentralized way with multiparty ECDSA instead, good opportunity for a staking utility token. Ratchet an interest rate on any custodied BTC up/down based on the tokens market cap (see: Augur token model), make faults attributable, and allocate yield based on stake.
1
3
26
3
5
72
@mhluongo
Matt Luongo ✜
4 years
In case anyone is wondering, yes, @TornadoCash still appears to effectively be custodial 😭 Do we all want @udiWertheimer to be right forever? Is there no one who will just throw away their keys?
@udiWertheimer
Udi | BIP-420 🐱
4 years
@mhluongo @WhiteRabbitBTC @CamiRusso @keep_project i mean, the 'read contract' button is right there
2
0
17
9
11
69
@mhluongo
Matt Luongo ✜
3 years
3/ MM has taken us far on this journey, and they deserve all the success they’ve achieved. But right now, that success is feeling very Web2.
1
3
70
@mhluongo
Matt Luongo ✜
4 years
2/ As far as I know, this release is the first permissionless, censorship-resistant Bitcoin bridge on Ethereum. Anyone can mint $tBTC by connecting to the Bitcoin and Ethereum chains, and no one can censor transactions or redemptions.
5
6
66
@mhluongo
Matt Luongo ✜
7 months
2024 will be the revenge of Bitcoin. Still to be decided: whether the Bitcoin ETF will be good for freedom, or just our bags. Check out my piece on @CoinDesk 👇
17
12
64
@mhluongo
Matt Luongo ✜
3 years
Say you want to airdrop an ERC-20 to a bunch of GitHub devs and Twitterati, via contract. What's the best way to pull it off?
35
3
67
@mhluongo
Matt Luongo ✜
5 years
@keep_project @summa_one 2/ The premise is simple. Existing federation-based approaches to Bitcoin sidechains are broken, exposing users to risks of censorship and theft of funds. These aren't acceptable tradeoffs, and they've kept us from better scaling and building with Bitcoin.
5
4
66
@mhluongo
Matt Luongo ✜
4 years
Short technology, long community
1
9
66
@mhluongo
Matt Luongo ✜
1 year
tBTC v2's final testing for chaosnet is going well! Feeling good about this launch 😊
4
17
67
@mhluongo
Matt Luongo ✜
5 years
Who's found product / market fit in crypto?
52
12
65
@mhluongo
Matt Luongo ✜
3 years
Interested in funding Bitcoin on Ethereum work? The @keep_project team has been funding an efficient BTC relay used by multiple projects, and pioneered by @_prestwich . We're working with the Strudel team to open the relay it to outside funding. Who'd be interested? @BadgerDAO ?
4
15
65
@mhluongo
Matt Luongo ✜
4 years
Narrator: They don't.
@arjunblj
Arjun Balaji
4 years
The risk surface of DeFi is growing exponentially. This is a combo of: - Contract bugs - Poor protocol parameterization - On-chain congestion - Oracle failure - Keeper bot/LP failure Risk is amplified by contract composability and leverage. I hope everyone understands this.
41
112
568
2
5
67
@mhluongo
Matt Luongo ✜
3 years
These exploits are no longer in the "this space is hard" arena, they're now in the "any security scanner would've caught this" camp. Be real here, own up, and improve.
@KyleSamani
Integrated Kyle e/acc
3 years
Thoughts on @THORChain 1) 2nd exploit was not new bug. It was already there 2) it was known to be unaudited. Obv a little irresponsible, but also to be expected 3) Thorchain is probably the most complex crypto thing in the world other than bleeding edge ZKP stuff Wgmi
57
38
499
1
4
65
@mhluongo
Matt Luongo ✜
2 years
We're about to see BitGo/Galaxy freeze a bunch of WBTC. Feels like the right time for a decentralized, censorship-resistant alternative...
@BowTiedIguana
BowTiedIguana | DeFi research, Cybersecurity info
2 years
WBTC is issued by BitGo. Its entities are in in South Dakota and New York. They must obey OFAC sanctions or face million dollar fines and jail time for their execs.
4
30
202
22
21
64
@mhluongo
Matt Luongo ✜
5 years
So I've been thinking a bit about the Zcash Founder's Reward, the @ZcashFoundation , and de facto cryptocurrency governance. Thought process below, or you can jump to the outcome of those thoughts here 👇
1
18
57
@mhluongo
Matt Luongo ✜
3 years
8/ If you’ve ever used @Uniswap , @Metamask , @Matcha , @CurveFinance , @saddlefinance , or @brave , you are the community. This isn’t a project for whales or mega LPs. It’s for you.
1
0
63
@mhluongo
Matt Luongo ✜
7 years
1/ Teams selling tokens do not have control of the market. Promises about price should not be trusted.
5
14
43
@mhluongo
Matt Luongo ✜
4 years
Check out my discussion with @APompliano on #tBTC , the Bitcoin / Ethereum cultural divide, and crypto'ing in the time of Covid-19. Unfortunately, the virus is still spreading 😷 Thanks for having me on @APompliano !
@APompliano
Anthony Pompliano 🌪
4 years
New episode with @mhluongo ! We discuss bringing the worlds of Bitcoin & Ethereum together, how he is a monetary maximalist, what tBTC is & the value it brings to DeFi community, & how crypto companies are prepared for working through the COVID-19 crisis.
5
25
54
3
11
61
@mhluongo
Matt Luongo ✜
4 years
Excited to share our version of progressive decentralization in 2021 😀
5
5
60
@mhluongo
Matt Luongo ✜
3 years
It'd be a shame if to prove a point about censorship resistance, people were detained or hurt. Because that can't be rolled back.
10
6
63
@mhluongo
Matt Luongo ✜
4 years
Crypto is inherently political; what could be more political than money? Building on Bitcoin means building an alternative to the status quo, & threatening those in power. Come build with us at @thesis_co @fold_app @keep_project .
2
16
58
@mhluongo
Matt Luongo ✜
4 years
Pretty excited to ship, it's been too long. But also now I'm watching people risk tons of money maybe a *little* too quickly... sleep will be elusive the next few months 😅
3
0
63
@mhluongo
Matt Luongo ✜
4 months
There's only one battle-tested, scaleable, censorship-resistant BTC bridge on the market.
@udiWertheimer
Udi | BIP-420 🐱
4 months
BitVM BRIDGES JUST WANT TO WATCH THE WORLD BURN BitVM is an exciting discovery that allows for verification of general computations using the bitcoin network this is really cool. but “bridges” built with BitVM are not cool. recently, multiple bitcoin “L2s” proposed using
Tweet media one
48
35
247
11
16
63
@mhluongo
Matt Luongo ✜
3 years
2/ Since then, MM has launched Swap, an in-wallet trading service. Today, they’re earning ~$10M a month in fees, charging each user 0.75-1% per swap 😳
Tweet media one
3
1
60
@mhluongo
Matt Luongo ✜
4 years
The worst part about this card is that I don't have it yet. Crossing my fingers for today 😋
@fold_app
FOLD BITCOIN ($EMLD)
4 years
👀
Tweet media one
48
16
285
5
1
57