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Daily DeFi Thoughts, 2020-08-13: Building a performant on-chain exchange is hard. But it's also the goal, and all the EV is in doing it as well as you can. Choose the best chain, build the best team, and get the strongest partners you can for your ecosystem.

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SBF

@SBF_FTX

Aug 10, 2020

Daily DeFi Thoughts, 2020-08-11: Liquidity mining, in its current form, is stupid. It artificially inflates metrics. Maybe it was good for marketing but don't drink your own cool-aid: citing TVL is like citing fake exchanges' fake volume. $50m in real VL >>> $500m in fake VL. twitter.com/SBF_FTX/status…

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SBF

@SBF_FTX

Aug 13, 2020

Layer 2s are really cool. But they also rely on the layer 1 for core functions. Rather than compromise on functionality, just build on the layer 1 that works; you can use rollups between it and ETH like you can with layer2's.

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and

Tbh feels like you’re just building a better binance dex - great endeavor, but arguable not DeFi considering trust assumptions of an L1 that’s controlled by a small number of investors

SBF

@SBF_FTX

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@MonetSupply

FWIW the validators on Solana are about as diversified as the miners on ETH: solanabeach.io/#/validators etherchain.org/charts/topMine Now, sure, ETH2.0 might be different! But it's also years away, and Solana has those years to massively grow out its validator base.

1:05 PM · Aug 13, 2020Twitter Web App

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and

Also, though, I think the goal really should be to aim really high -- the goal is to build something that can really transform large parts of the world. And layer2's on ETH are sort of a compromise solution. Even if you like them now, it seems like they don't scale super well.