Conversation

SBF
@SBF_FTX
3) This story ends with
@bonfida
, but it starts with
@SushiSwap
. By now pretty much everyone knows the story: The meteoric rise, the sudden crash, the dormant period, and the recovery. This story starts at the lowest point: right after the migration.
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SBF
@SBF_FTX
4) See, the lowest point *should* have been right after nomigate. But of course there was negative sentiment then! That was expected. The brutal part for the project was after the fires were put out--the dev funds returned, the migration successful.
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SBF
@SBF_FTX
5) That should have been the recovery. But instead, Sushiswap endured a month of the most negative sentiment I've ever seen a project have. There was a chat, as the major builders and multisig holders got things off their chest.
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SBF
@SBF_FTX
6) Most were receiving threats daily--some physical, but even more so not-so-thinly-veiled threats on their job: "desert Sushiswap or I'll pressure your company to fire you". It was a perfect storm of coordinated attack, disorganized sadness, and all around frustration.
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SBF
@SBF_FTX
7) And in a key moment- just as some were thinking of quitting, because they didn't want to take it anymore- there came an outpouring of solidarity. Sushiswap wasn't perfect, and in some cases it wasn't even good. But it didn't deserve what it was getting. "Fuck the h8ters"
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SBF
@SBF_FTX
8) Sushiswap has gone from the most shit on project to the newest revival. SUSHI was up 6x from its nadir. All of a sudden, it's popular again. Why? What happened?
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SBF
@SBF_FTX
9) Well, partially Uniswap rewards ended. Partially people got bored of shitting on Sushi. But more than even of those, right at the lowest point, Sushiswap made a decision.
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SBF
@SBF_FTX
12) And now, months later, the space has come to appreciate what was built. ------------- So what does this have to do with
@bonfida
? Serum was never in the doghouse the same way Sushiswap was. But for all its promise, it started with nothing.
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SBF
@SBF_FTX
13) No users, no apps, no tools. What do you do what there's no good Solana wallet? You build one. And then you help others build more.
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SBF
@SBF_FTX
15) But in the background, so much more has been building up. Because, for a few months, there wasn't a huge marketing barrage or persuasion campaign. In the end actions speak louder than words. So first you get dressed.
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SBF
@SBF_FTX
16) There are a lot of awesome projects on the cusp of being released on Serum. But Bonfida alone as built a shocking amount in less than half a year.
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SBF
@SBF_FTX
21) k) ...andm to top it off, an NFT exchange: solible.com/#/ Now it didn't build all of this from scratch--many of these products are composed with primitives that others have been building out on Serum this year. And that's totally fine.
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SBF
@SBF_FTX
22) Bonfida has built more products in the last months than most projects ever release. And on top of that, it's composed, wrapped, and GUI-ified even more. None of this takes away from the incredibly intricate work from @blocks_go_brr,
@armaniferrante
, @seb_alameda, and more.
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SBF
@SBF_FTX
23) It adds to it, because that's how DeFi works. It's open, and composable, so that each app can gain from the others rather than compete. Bonfida has built a ton. And on top of that, it helps each app be its best self. It's just getting started.
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