Max Wolff

@maxcwolff

eng . formerly

San Francisco, CA
Vrijeme pridruživanja: lipanj 2016.
31 fotografija ili videozapis Fotografije i videozapisi

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  1. Prikvačeni tweet
    23. sij

    Today I’m releasing Rho, a full spec for an on-chain interest rate swaps protocol designed as an automated market maker. With Rho, traders can open positions directly with the protocol at any time instead of having to wait for a counterparty.

    15 replies 51 proslijeđeni tweet 238 korisnika označava da im se sviđa
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  2. 31. sij

    why do i have to call my representative to complain.. can they just start a discord

    8 korisnika označava da im se sviđa
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  3. 24. sij

    up to 4 ETH bounty build Rho at

    Odgovor korisnicima @bennybitcoins @EthereumDenver
    +1 will throw in another 2 ETH to the bounty
    1 reply 14 korisnika označava da im se sviđa
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  4. 23. sij

    Of course, a big thanks to everyone that helped me with this project, including , Regina Cai, , Coburn Berry, and .

    17 korisnika označava da im se sviđa
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  5. 23. sij

    I’m open-sourcing this work in hopes that it will inspire the community to build awesome stuff. I'm also releasing a full spec and a reference implementation of Rho. If you have questions, my DMs are open!

    1 proslijeđeni tweet 29 korisnika označava da im se sviđa
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  6. 23. sij

    Building this as an AMM is more difficult, but has huge benefits. In a early market, there isnt enough money, market makers or sophistication to fill an orderbook. AMMs get everyone trading in a single market on standardized terms, so there's less friction to opening orders.

    1 reply 11 korisnika označava da im se sviđa
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  7. 23. sij

    Rho uses an interest rate model to determine the fixed rate to charge or pay on incoming swaps. Individual swaps are abstracted away from liquidity providers, allowing them to simply supply funds and collect trading fees.

    14 korisnika označava da im se sviđa
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  8. 23. sij

    Benchmarking Rho's rates to minimizes counterparty risk (avoiding the oracle problem) while indexing the DeFi borrowing market. This would allow you to create a fixed-rate Compound borrow, or just speculate on rates.

    1 reply 2 proslijeđena tweeta 18 korisnika označava da im se sviđa
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  9. 19. sij

    Chess interest rates vary by board position. If the board is wide open, it's cheap to develop and rates are low. If you're close to a mate, rates are high: getting your pieces a little closer to the action has a huge payoff. Time is money.

    1 reply 2 korisnika označavaju da im se sviđa
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  10. 19. sij

    *Hits bong* chess has... interest rates? Pieces that you lend play time to become more active and return value. Here, my lowly pawn becomes the focal point of the whole game.

    1 reply 6 korisnika označava da im se sviđa
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  11. 6. sij

    Partially wrote it to test out saddle, the minimalist testing framework we use at Compound. If your into that, check it out. Also, learned there’s another awesome team working on a (better) version of this product. I can’t wait to see them launch!

    1 proslijeđeni tweet 8 korisnika označava da im se sviđa
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  12. 6. sij

    Open-sourcing a stub of a weekend tinker: I rewrote Uniswap in Solidity and added ERC20-ERC20 (enabling CToken <> CToken pairs) and a few other minor features. Thought it might serve as a good starting point for others messing around on this stuff!

    6 replies 8 proslijeđenih tweetova 58 korisnika označava da im se sviđa
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  13. 26. pro 2019.

    Agree here. When Bitcoin finally has a good bridge to Ethereum, itll eat the ETH SoV story. Gas will eventually be paid in stable coins, or even wrapped bitcoin via msg.coinbase. Still think Ethereum smart contracts have a bright future, but is that bullish for ETH?

    Thesis: stablecoins basically killed the chance for any smart contract platforms to accrue significant monetary premium.
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    8 korisnika označava da im se sviđa
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  14. 16. pro 2019.

    an experimental chrome feature for dark mode: chrome://flags/-force-dark

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  15. 27. stu 2019.

    * will send all idle DAI into DSR * adding reserves from previous CDAIs (basically a user subsidy) * more accurate interest rate model that (accounts for reserves, new params) I think we're gonna see some awesome rates come out of this thing:

    14 korisnika označava da im se sviđa
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  16. 22. ruj 2019.

    9/ Just because some of the 2018 defi protocols got big doesnt mean the game is over. there are a lot of derivatives left to build (interest rate swaps also come to mind). And with enough volume and market maturity, I think bespoke, otc-type contracts will start to work too.

    1 reply 6 korisnika označava da im se sviđa
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  17. 22. ruj 2019.

    8/ Defi protocol design principle #2: build an AMM, not an orderbook. Again, transaction costs are high and liquidity is low, make a protocol that gives users an algorithmic price and a single point of reference. This is the hard part.

    1 reply 2 korisnika označavaju da im se sviđa
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  18. 22. ruj 2019.

    7/ Luckily, this paradigm has been explored in the CEX world with perpetual futures, which allow traders looking for futures of any duration to trade with each other. Bitmex's BTC perpetuals are huge (~$1B open interest):

    1 reply 2 korisnika označavaju da im se sviđa
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  19. 22. ruj 2019.

    6/ Defi protocol design principle #1: minimize the number of position types to unify liquidity. Transaction costs are just too high and liquidity too low to support markets with a bunch of bespoke options. In the futures case: find a way to get rid of contract expiry dates

    1 reply 1 proslijeđeni tweet 4 korisnika označavaju da im se sviđa
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  20. 22. ruj 2019.

    5/ Futures work as follows. Buying an ETH future entitles you to 1 ETH from whoever you bought it from at the expiration date. Some variants instead give you the cash value of 1 ETH in the future, or even the delta of 1 ETH's value from the contracts start and end.

    1 reply 2 korisnika označavaju da im se sviđa
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