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Tarun Chitra
@tarunchitra
ヽ(⌐■_■)ノ♪♬ @ /// // Past: ¯\_(ツ)_/¯ @ HFT// main: / pinged.lens
Brooklyn, NY👀🍄👀.y.atJoined July 2009

Tarun Chitra’s Tweets

As much as we compare Canto to a planned economy that doesn’t allow for innovation and gives all of its revenue to corrupt officials (validators taking MEV higher in the preference stack over LPs), one has to give it credit for being the only part of Cosmos enticing net new users
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In this week's Chopping Block, @tarunchitra, @rleshner, @tomhschmidt and I: * Dunk on $CANTO 👎 (specifically protocol-enshrined DeFi and CSR) * Laugh at the fight over Bitcoin NFTs 🤣 * Relay LayerZero drama 🍿 This one gets spicy. youtube.com/watch?v=LHDeX7
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One common thing about crypto and AI: there are very few people with original writing styles. All content — papers, companies, software docs, posts — ends up being written by a small number of people and then is copied by the linguistically incompetent, and amplified by LLMs
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Kind of amazing that “Stock-based Compensation” and “Stanford Blockchain Conference” are the same acronym (took me a while to understand wtf this said, 🫣)
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Not just CEOs/CFOs, I have met board members who think buying back shares to offset SBC is somehow intelligent. It’s financially ignorant, a silly parlor trick, & proof there is no difference between SBC & cash. Except for the fact that boards & managers are more carefree w SBC. twitter.com/modestproposal…
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Me, in 2020: "Wow, I've used the quadratic formula more in my life than I ever did in school" Me, in 2023: "Wow, I've used the Lambert W-function more in my life than I ever did in school" What's next, zeta functions? 🤣
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OH (regarding new DeFi protocols claiming MEV resistance): "imagine what would happen to them if heard the argument that E[Risk] = 0 means Risk = 0 and then they got into an MMA match with him"
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Trilemma szn, fr
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🧵 "A Bias-Variance-Privacy Trilemma for Statistical Estimation," with @argymouz, Matthew Regehr, @vkerdos, @shortstein, and @thejonullman. arxiv.org/abs/2301.13334 Private estimators MUST be biased! 1/n
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Reminds me of seeing a bunch of papers on the same topic the day after ICML submissions are due
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A bunch of cool papers came out in the last few days (presumably after the EC deadline?) * there's two from @ConorMcMenamin9 and @vdazaf * Credible auctions from @tarunchitra @MatheusVXF and @ks_kulk * CR in auctions from @MaxResnick1 @malleshpai @eljhfx What did I miss?
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8/ We hope this contract update gave you a taste of the internal workings of Axiom. We'll be back later in the week with more documentation and guides for understanding our circuits, proving stack, and on-chain verifier. Thanks for bearing with us!
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Which bottle do we bring?
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If you say "credible on-chain auctions" in the mirror 10 times fast and close your eyes @malleshpai @tarunchitra @MaxResnick1 and @ks_kulk will show up w/ a white board, some theorems and a bottle of scotch to discuss its nuances
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Counterpoint: "ZK" as a moniker for privacy, SNARKs, MPC, ZK, applications that use low degree polynomials has been a Schelling point for LPs which will ensure all of these technologies have 5+ years of funding (and I'd rather this stuff be funded than FTX 2.0)
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If you're raising Venture capital, just spray your pitch deck w a few dozen subliminal "ZK" watermarks and watch your valuation triple. ZK-defi, ZK-gaming, ZK-NFTs... it's all happening in ZK-VC
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In a world where even Google succumbs to pressure to run credible auctions, I believe that cryptocurrency can lead the way in mechanism design. Things like this auctions and other "cryptography for decentralized mechanism design" () things are a light out of the tunnel
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What else can be done? Use ZK/FHE to 1. Increase the set of valuation distributions that can be used (FHE, in particular, allows for this, albeit in a strict model) 2. Model interdependent credible auctions
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However, GDAs involves what are known as *interdependent valuations*, in that the buyers' bids will change based on others' valuations. Two examples of this: 1. @ParisHilton.eth buying a BAYC causes others valuation to go up more than if Tarun.eth bought it 2. Winner's Curse
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What does this mean for MEV auctions? 1. Chains like Flashbots' SUAVE and can act as this clearing house for commitments (some are ZK) to ensure credibility in auctions 2. PBS can be made credible with this auction if consensus enforces the DRA + commitments
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As such, perhaps having the commitments on a public blockchain changes the strategy space and allows for wider, fatter value distributions — this is indeed what we find! By forcing the commitments to be on a public blockchain, the auctioneer cannot deviate as much as in private
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The insight of the original credible auction paper is that you need to model the interaction between bidders and auctioneers on a game tree (an extended form game) that includes the set of messages they are allowed to use and communicate w/ one another (almost like a UC proof)
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