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Having gone through the process of launching centralized and decentralized products, I can confidently say that it's way harder to release the typical CEX than the typical DEX these days.

@arjunblj

-- in which sense were you comparing it to a rocket?

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Arjun Balaji

@arjunblj

Oct 14, 2020

Releasing a DeFi application today is closer to launching a rocket than launching a consumer mobile app.

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What I meant: 1) Low/no margin for error, emphasis on FV/testing 2) Structural constraints which limit ability to patch or iterate post-launch But also a shitpost so I wouldn’t read too much into it

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hehe got it agreed on the 2nd, not really the 1st--it's pretty simple stuff all things considered, testing less necessary than for most things though obv the immutability pushes in the opposite direction. Audits are frankly overrated.

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For things that are temporal in nature like an orderbook, sure, audits can be overrated. For things like a multisig, where funds are deposited and just sit there for an unspecified period of time, audits are absolutely necessary.

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People can, and *will* hack you. The only reason they haven't, yet, is the unaudited product is not valuable enough.

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I think more of my point is that I think audits are not always the best way to catch bugs -- that either: 1) low-value version people play around with for a while 2) fuzzing 3) having another dev read the code 4) testnet are often better. But I'm not 100% sure in that!

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But this also really depends on the protocol -- some are way more complicated than others, and the more complicated and novel ones need way more testing

5:12 PM · Oct 14, 2020Twitter Web App

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