42 avsnitt • Längd: 75 min • Oregelbundet
Uncommon Core 2.0 is a crypto research podcast. This show goes beyond speculation and investing, looking deeper. We explore the fundamental technology and incentives that make public blockchains work under the hood. This show is co-hosted by Hasu and Jon Charbonneau. They’ll be joined by occasional guests, speaking with some of the incredible builders and researchers who are looking to evolve this infrastructure stack to make the mass adoption of crypto possible.
The podcast Uncommon Core 2.0 is created by Uncommon Core 2.0. The podcast and the artwork on this page are embedded on this page using the public podcast feed (RSS).
Hasu and Jon bring on Robert Miller from Flashbots.
They have a wide-ranging conversation including Ethereum’s roadmap, L1 vs. L2, convergent architectures across chains, and differences vs. Solana. They also discuss how Flashbots’ newest products (Rollup-Boost and BuilderNet) address MEV.
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Timestamps:
(00:00) Intro
(02:07) Ethereum's Rollup-Centric Roadmap
(07:21) Ethereum L1's Role
(16:47) We're All Building the Same Thing
(23:53) L2 Innovation
(28:13) Solana & Ethereum MEV
(47:48) MCP vs. MCB
(55:56) Rollup-Boost
(01:19:41) BuilderNet
(01:53:19) Closing Thoughts
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Twitter:
Hasu - https://twitter.com/hasufl
Jon Charbonneau - https://twitter.com/jon_charb
Uncommon Core 2.0 - https://twitter.com/UCC2_xyz
Robert Miller - https://twitter.com/bertcmiller
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Disclaimer: The material and information presented in this podcast is for general informational purposes only and should not be considered investment advice. The views, thoughts, and opinions expressed in this podcast are solely those of the speakers and are not the views of any entity or other person with whom the speaker is affiliated, including, without limitation, DBA Asset Management, LLC (“DBA”) or its affiliates. The “DBA Asset Management, LLC” name and all forms thereof are the sole property of its owner, and its use does not imply endorsement of or opposition to any specific organization, product, or service.
Hasu and Jon bring on Ansgar and Caspar from the Ethereum Foundation to discuss the ETH staking endgame.
Ansgar and Caspar recently published two controversial research posts which included a proposal to change Ethereum’s issuance curve. They are concerned that the current ETH staking economics could lead to nearly 100% of ETH being staked, with much of that in LSTs. They propose reducing issuance and targeting a lower stake rate.
We go deep in this episode on PoS economics, liquid staking, restaking, economic security, centralization concerns, and much more.
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Timestamps:
(00:00) Intro
(00:25) Possible Changes to ETH Staking?
(00:49) Overview of Current ETH Staking
(16:32) LSTs & Staking Rate Increasing
(21:36) Nominal vs Real Yield
(23:22) Tax Implications of Staking
(27:57) Staking Demand & External Revenue
(35:33) Stake Ratio Targeting
(36:21) Is 100% Staking Bad?
(40:05) Can ETH LSTs be Money?
(55:24) Would Any Changes Make a Difference?
(01:04:05) Stake Targeting
(01:10:20) Will Targeting Centralize Validators?
(01:22:53) Fiat Money Parallels
(01:25:16) MEV & Restaking Revenue
(01:30:52) Electra Proposal to Change Issuance
(01:46:01) Security Budget & Economic Security
(01:53:40) Validator Set Quality
(01:55:10) Incentives to Maximize Validator Decentralization
(02:19:00) PoS vs PoW Political Complexity
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Twitter:
Hasu - https://twitter.com/hasufl
Jon Charbonneau - https://twitter.com/jon_charb
Uncommon Core 2.0 - https://twitter.com/UCC2_xyz
Ansgar - https://twitter.com/adietrichs
Caspar - https://twitter.com/casparschwa
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Referenced Materials:
Endgame Staking Economics: A Case for Targeting - https://ethresear.ch/t/endgame-staking-economics-a-case-for-targeting/18751
Electra: Issuance Curve Adjustment Proposal - https://ethereum-magicians.org/t/electra-issuance-curve-adjustment-proposal/18825
Properties of issuance level: consensus incentives and variability across potential reward curves - https://ethresear.ch/t/properties-of-issuance-level-consensus-incentives-and-variability-across-potential-reward-curves/18448
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Disclaimer: The material and information presented in this podcast is for general informational purposes only and should not be considered investment advice. The views, thoughts, and opinions expressed in this podcast are solely those of the speakers and are not the views of any entity or other person with whom the speaker is affiliated, including, without limitation, DBA Crypto, LLC. The “DBA Crypto” name and all forms thereof are the sole property of its owner, and its use does not imply endorsement of or opposition to any specific organization, product, or service.
Hasu and Jon catchup on what’s new in the EVM (Ethereum Virtual Machine) and SVM (Solana Virtual Machine) worlds.
For the EVM, Ethereum has pushed vertical scaling efforts to other chains. This includes Monad, who is building a new EVM L1 with fundamental optimizations to improve scalability.
For the SVM, the Solana ecosystem continues to gain momentum across the board. Meanwhile, Eclipse is gearing up to launch their SVM Ethereum L2.
DBA is an investor in Eclipse Laboratories, Inc. and SOL. Jon has material personal investments in SOL, JitoSOL, ETH, stETH, and TIA. Hasu has material personal investments in ETH and Monad.
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Timestamps:
(00:00) Intro
(00:25) Catch up
(00:56) VM Performance Improvements
(02:32) Solana & Eclipse
(04:26) DA vs Execution Bottlenecks
(05:53) Rollups & Parallel Execution
(07:10) Breakpoint
(08:29) Solana & Eclipse – Competitive or Complementary?
(12:48) Ethereum & Solana Funds
(13:33) DBA Research Club
(15:01) What is a VM?
(16:33) Optimistic Parallel Execution vs. Access Lists
(23:45) Solana Resource Pricing
(25:03) Local Fee Markets
(30:48) Liveness Failures
(31:58) A Bottleneck vs. *The* Bottleneck
(35:39) State Growth
(41:29) Weak Statelessness
(45:33) State Expiry & State Rent
(51:10) Solana Un-merklizes State
(51:55) Client Level Optimizations
(53:45) Optimizations for New vs. Old Chains
(57:17) Will Everyone Converge?
(01:00:36) Outro
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Hasu - https://twitter.com/hasufl
Jon Charbonneau - https://twitter.com/jon_charb
Uncommon Core 2.0 - https://twitter.com/UCC2_xyz
Ethereum - https://twitter.com/ethereum
Solana - https://twitter.com/solana
Eclipse - https://twitter.com/EclipseFND
Monad - https://twitter.com/monad_xyz
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Disclaimer: The material and information presented in this podcast is for general informational purposes only and should not be considered investment advice. The views, thoughts, and opinions expressed in this podcast are solely those of the speakers and are not the views of any entity or other person with whom the speaker is affiliated, including, without limitation, DBA Crypto, LLC. The “DBA Crypto” name and all forms thereof are the sole property of its owner, and its use does not imply endorsement of or opposition to any specific organization, product, or service.
Hasu and Jon bring on Mike Neuder (Ethereum Foundation) and Chris Hager (Flashbots) to discuss the design philosophy of proposer-builder separation (PBS). They first dive into the past and present implementations of PBS, including MEV-Geth and MEV-Boost on Ethereum. Then they discuss the future of PBS - whether PBS should be enshrined, protocol-enforced proposer commitments (PEPC), PBS on L2s, how to prevent censorship, and more.
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Timestamps:
(00:00) Intro
(01:12) What is PBS?
(05:37) The History of PBS
(08:43) MEV-Boost
(10:18) Block Production in Proof-of-Work
(11:31) Benefits of PBS
(14:17) PBS Makes Based Rollups Viable
(16:21) PEPC & Proposer Complexity
(17:46) Other Builder Services
(19:49) PBS & Regulation
(22:48) Regulation & Encrypted Mempools
(24:38) Division of Labor is Inevitable
(26:15) Risks of PBS
(29:03) Development of COre Protocol Software
(33:31) PEPC, POB, & Alternatives to PBS
(41:53) Decentralization vs. Usefulness Tradeoff
(46:30) State of PBS in MEV-Boost
(50:51) Optimistic Relays
(52:09) Enshrined PBS (ePBS)
(55:55) PBS on L2
(58:47) PEPC
(01:05:25) Proposer Commitments & User Intents
(01:09:03) Concluding Remarks
(01:11:05) Recap
(01:12:06) PEPC, PEPC-Boost, & MEV-Boost+
(01:18:44) PBS From First Principles
(01:21:41) PBS is a Philosophy, Not an Implementation
(01:25:44) To Enshrine, Or Not to Enshrine?
(01:35:12) In-protocol vs. Out-of-protocol Development & Funding
(01:50:16) Censorship & Proposer Agency
(01:58:15) Outro & Disclaimer
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Hasu - https://twitter.com/hasufl
Jon Charbonneau - https://twitter.com/jon_charb
Uncommon Core 2.0 - https://twitter.com/UCC2_xyz
Mike Neuder - https://twitter.com/mikeneuder
Chris Hager - https://twitter.com/metachris
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Relays in a post-ePBS world - https://ethresear.ch/t/relays-in-a-post-epbs-world/16278
No free lunch – a new inclusion list design - https://ethresear.ch/t/no-free-lunch-a-new-inclusion-list-design/16389
Payload-timeliness committee (PTC) – an ePBS design - https://ethresear.ch/t/payload-timeliness-committee-ptc-an-epbs-design/16054
Notes on Proposer-Builder Separation (PBS) - https://barnabe.substack.com/p/pbs
PEPC FAQ - https://efdn.notion.site/PEPC-FAQ-0787ba2f77e14efba771ff2d903d67e4#41230925420345af84f31b50d806b8ed
PEPC Open Problems - https://docs.google.com/presentation/d/12kpwAXbZqUA0fu2HnZKSesVwO31ICbgIiacHd0EQ_fk/edit#slide=id.g2401d3821ec_1_0
PBS Guild Proposal [v3 WIP] - https://collective.flashbots.net/t/pbs-guild-proposal-v3-wip/2223
MEV-Boost+/++ - https://www.blog.eigenlayer.xyz/censorship-resistance-with-restaking/
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Disclaimer: The material and information presented in this podcast is for general informational purposes only and should not be considered investment advice. The views, thoughts, and opinions expressed in this podcast are solely those of the speakers and are not the views of any entity or other person with whom the speaker is affiliated, including, without limitation, DBA Crypto, LLC. The “DBA Crypto” name and all forms thereof are the sole property of its owner, and its use does not imply endorsement of or opposition to any specific organization, product, or service.
In this episode, we explore Jon’s journey into crypto and our mutual passion for research and the writing process. We then give an overview over the key areas of crypto infrastructure today. Finally, we zoom into rollup decentralization roadmaps, and Jon shares a controversial new thesis about sequencer decentralization.
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Timestamps:
(00:00) Intro
(02:42) Interview start
(03:44) Jon's work week
(08:04) ChatGPT & writing
(10:57) Jon's start in crypto
(14:45) How to pick things to work on
(17:08) Outsider's perspective on crypto
(19:05) Jon's research process
(22:00) Jon's proudest moment in crypto
(23:06) Crypto Infrastructure overview
(29:58) Why crypto infrastructure is interesting
(35:57) Rollup decentralization overview
(42:44) Challenges decentralizing the sequencer
(47:46) Ethereum vs Cosmos approach to governance & decentralization
(53:35) User ability to opt out
(56:37) Staking vs. governance deciding sequencers
(01:08:31) L3s
(01:13:34) Superchain
(01:16:38) Summary of rollup decentralization
(01:21:08) Outro
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Hasu - https://twitter.com/hasufl
Jon Charbonneau - https://twitter.com/jon_charb
UCC2 - https://twitter.com/UCC2_xyz
Website - https://ucc2.xyz
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Disclaimer: The material and information presented in this podcast is for general informational purposes only and should not be considered investment advice. The views, thoughts, and opinions expressed in this podcast are solely those of the speakers and are not the views of any entity or other person with whom the speaker is affiliated, including, without limitation, DBA Crypto, LLC. The “DBA Crypto” name and all forms thereof are the sole property of its owner, and its use does not imply endorsement of or opposition to any specific organization, product, or service.
Listen to conversations between two veterans of the crypto industry: Su Zhu, CEO and CIO of Three Arrows Capital, and Hasu, Strategy lead at Flashbots. Exploring the big ideas in crypto from first principles.
In this episode, Hasu continues the conversation with Danny Ryan and Tim Beiko, two researchers from the Ethereum Foundation. The three are joined by Stephane Gosselin, co-founder of Flashbots, who makes his podcast debut and stands in as Hasu's co-host.
Together, they discuss:
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Listen to conversations between two veterans of the crypto industry: Su Zhu, CEO and CIO of Three Arrows Capital, and Hasu, Strategy lead at Flashbots. Exploring the big ideas in crypto from first principles.
In this episode, Hasu sits down with two Ethereum Foundation researchers, Danny Ryan and Tim Beiko, to explore Ethereum's upcoming transition to PoS. Topics discussed include:
00:00 Intro and guests 03:02 Proof of Stake since 2017 08:18 PoS - Idea to production 12:24 Why do Blockchains need consensus? PoW & PoS Basics 22:21 Why switch to PoS? 37:03 The Merge - How does it happen? 45:14 The Merge - Unbundling of the Consensus & Execution layer 1:01:45 How do you test for such an important upgrade? 1:09:55 End
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Listen to conversations between two veterans of the crypto industry: Su Zhu, CEO and CIO of Three Arrows Capital, and Hasu, Strategy lead at Flashbots. Exploring the big ideas in crypto from first principles.
In this episode:
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In this episode, I had the opportunity to sit down with Eli Ben-Sasson of Starkware. If you listened to my last episode with Su where we talked about the scaling approaches of different L1s blockchains compared to Ethereum, I argued that L1 blockchains do not scale and that the only way to create true scalability is to perform all of the computation off-chain and only post the results of that computation on-chain. STARKs are a technology that allows huge amounts of computation to be compressed into succinct proofs that anyone can easily verify.
Our goal for this episode was to create the most approachable and comprehensive audio resource on how STARKs work and how they will scale blockchains in the future. We start by explaining inclusive accountability and the true meaning of scalability. Then we dive into STARKs, how proof systems work in general, and where they fit into the context of unbundling blockchains. Next, we use DYDX as a comprehensive case study to learn about the StarkEx system, before diving into StarkNet and its tradeoffs to StarkEx. Finally, we talk about StarkWare’s programming language Cairo and how the different costs of proving, verifying, and storage are going to scale into the future. If you’re a developer, you should also gain a very good idea of the tradeoffs between building on a regular L1 blockchain, the general-purpose StarkNet blockchain, and a StarkEx application-specific chain.
Enjoy!
Timestamps:
00:00 Intro
2:03 Eli’s backstory
5:27 What is computational integrity?
14:22 What are STARKs and how do they work?
29:03 How can validity proofs scale blockchains?
34:13 Looking at DYDX + StarkEx as a case study
56:20 What are the differences between StarkNet and StarkEx?
1:02:46 Cairo
1:13:52 What are the different costs for the end-user?
Listen to conversations between Su Zhu, the CEO and CIO of Three Arrows Capital, and Hasu, an experienced crypto researcher and writer. Together with occasional guests, we explore the transformative nature of trust-minimized currency and financial services.
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FOLLOW the guest
In this episode
Listen to conversations between Su Zhu, the CEO and CIO of Three Arrows Capital, and Hasu, an experienced crypto researcher and writer. Together with occasional guests, we explore the transformative nature of trust-minimized currency and financial services.
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With BTC and ETH making new ATHs, new and old investors are asking themselves the same question: How do you value cryptoassets?
Listen to conversations between Su Zhu, the CEO and CIO of Three Arrows Capital, and Hasu, an experienced crypto researcher and writer. Together with occasional guests, we explore the transformative nature of trust-minimized currency and financial services.
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Today, I’m sitting down with Anish Agnihotri, who is a research associate and colleague of mine at Paradigm. Anish has a fascinating backstory from becoming an entrepreneur at a really young age to later going deep into skin trading. We discuss how that skill transfers to NFT trading and how we see the market structure of both primary and secondary markets for NFTs. Finally, Anish shares some actionable advice on how he learns and how to build projects in crypto. This was a deep and fascinating conversation and I hope you’ll enjoy it.
Listen to conversations between Su Zhu, the CEO and CIO of Three Arrows Capital, and Hasu, an experienced crypto researcher and writer. Together with occasional guests, we explore the transformative nature of trust-minimized currency and financial services.
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Today, we welcome Jordi Alexander, a former professional poker player turned macro trader turned crypto trader.
Jordi competes in the Mind Sports Olympiad and is an expert in games and game theory in general.
Together we discuss
Enjoy!
Listen to conversations between Su Zhu, the CEO and CIO of Three Arrows Capital, and Hasu, an experienced crypto researcher and writer. Together with occasional guests, we explore the transformative nature of trust-minimized currency and financial services.
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For our latest episode, I sat down with MEV Senpai, one of the top searchers in Ethereum. He gave us the unique inside perspective of someone who finds and captures MEV himself. The result was a long & intense convo, one of the best I've had in a while.
We discussed:
Enjoy!
Listen to conversations between Su Zhu, the CEO and CIO of Three Arrows Capital, and Hasu, an experienced crypto researcher and writer. Together with occasional guests, we explore the transformative nature of trust-minimized currency and financial services.
SUBSCRIBE to the Podcast
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After a tumultuous month in crypto, Su and I discuss the state of the market and what we see on the horizon. Enjoy!
Listen to conversations between Su Zhu, the CEO and CIO of Three Arrows Capital, and Hasu, an experienced crypto researcher and writer. Together with occasional guests, we explore the transformative nature of trust-minimized currency and financial services.
SUBSCRIBE to the Podcast
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For this episode, Su and I invited the legendary trader Cobie, who goes under @CryptoCobain on Twitter. Together, we talked about
Enjoy!
Listen to conversations between Su Zhu, the CEO and CIO of Three Arrows Capital, and Hasu, an experienced crypto researcher and writer. Together with occasional guests, we explore the transformative nature of trust-minimized currency and financial services.
SUBSCRIBE to the Podcast
Apple Podcast https://podcasts.apple.com/us/podcast/uncommon-core/id1517659188?uo=4
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Youtube https://podcasts.google.com/feed/aHR0cHM6Ly9hbmNob3IuZm0vcy8yNTc4ZDVhMC9wb2RjYXN0L3Jzcw==
Other https://anchor.fm/uncommoncore
FOLLOW on Twitter
Su Zhu https://twitter.com/zhusu
Hasu https://twitter.com/hasufl
Our homepage and mailing list https://uncommoncore.co/podcast/
Transcripts, if available https://uncommoncore.co/blog/
Crypto commands unusually high yields relative to the traditional financial system, allowing investors to earn 20% on fiat and stablecoins and even more on other assets. In this episode, Su and I unpack a very simple question: Where are these yields coming from?
Topics discussed:
Su Zhu https://twitter.com/zhusu
Hasu https://twitter.com/hasufl
Our homepage and mailing list https://uncommoncore.co/podcast/
We are super hyped to bring you our conversation with Richard Galvin, one of the best performing VCs of the last years and frontrunner to the DeFi opportunity. In this episode, Richard and Su make the most condensed case for Defi that I've heard to date.
In this episode, we covered
Richard Galvin https://twitter.com/richwgalvin
Su Zhu https://twitter.com/zhusu
Hasu https://twitter.com/hasufl
Our homepage and mailing list https://uncommoncore.co/podcast/
This is part two of our conversation with Matti and Fiskantes of Zee Prime Capital. While the first half was more philosophical in nature, this time we talked exclusively about different blockchain projects and how they might connect to each other in the future. I believe that with gas fees in Ethereum being as high as they, the advent of sharding and layer two solutions, and the first credible Ethereum competitors like Polkadot, Cosmos, and Solana coming to mainnet, this topic has never been more relevant.
In this episode, we covered
Part 1 of 2 https://anchor.fm/uncommoncore/episodes/20-Matti-and-Fiskantes-of-Zee-Prime-Capital---Part-1-eqfb0m
Su Zhu https://twitter.com/zhusu
Hasu https://twitter.com/hasufl
Our homepage and mailing list https://uncommoncore.co/podcast/
Today, Su and I are sitting down with Matti and Fiskantes of Zee Prime Capital. These two have consistently been among my favorite people to follow on Crypto Twitter, so I’m very glad that they agreed to have this conversation with us.
In fact, we ended up talking for so long that we have to release the episode in two parts. In this first half, we covered
Hope you enjoy this conversation, I know I did.
Zee Prime's Investment Thesis https://twitter.com/mattigags/status/1353668468776824840?s=20
Matti's article "On Reflexivity & Imitation" https://insights.deribit.com/market-research/on-reflexivity-and-imitation/
Su Zhu https://twitter.com/zhusu
Hasu https://twitter.com/hasufl
Our homepage and mailing list https://uncommoncore.co/podcast/
Today, Su and I discuss the rise of WallStreetBets and financial populism in general. As one of the most experienced market participants I know, Su has a unique perspective on the story behind the GameStop short squeeze. We explore why he thinks it is going to end in tears for small investors, which invisible rules of the traditional financial system have been laid bare for everyone to see, and how all of this massively validates crypto and Defi going forward.
Su Zhu https://twitter.com/zhusu
Hasu https://twitter.com/hasufl
Our homepage and mailing list https://uncommoncore.co/podcast/
This is Part Two of our conversation with Arthur0x on the Top 20 Defi (Decentralized Finance) coins by market cap. Arthur0x went from being one of the earliest users and investors at Synthetix, Aave, and Kyber, to running the largest Defi-focused fund in all of Asia.
Arthur0x https://twitter.com/Arthur_0x
Defiance Capital https://twitter.com/DeFianceCapital
Su Zhu https://twitter.com/zhusu
Hasu https://twitter.com/hasufl
Our homepage and mailing list https://uncommoncore.co/podcast/
When our scheduled guest had microphone issues, Su and I decided to record an improvised episode for you guys instead. In this one, we go through all the coins in Coingecko's Top 20 by market cap and discuss our thoughts and predictions for them going forward.
Su Zhu https://twitter.com/zhusu
Hasu https://twitter.com/hasufl
Our homepage and mailing list https://uncommoncore.co/podcast/
Today, I sat down with Su Zhu, who is the CEO and CIO of Three Arrows Capital, as well as LightCrypto.
Light is a real crypto OG and one of the largest and most successful prop traders in this space.
We’ve known each other for two years now and I have tremendous respect for his skill and clarity of thought. He’s usually very secretive, so we are thankful that he has recorded his first-ever interview with us. In this conversation, we go very deep into the process and mindset of trading, as well as Su and Light’s current views on the market and how they are positioned going forward.
My name is Hasu, and I’m a researcher, investor, and writer.
Light https://twitter.com/lightcrypto
Hasu https://twitter.com/hasufl
https://podcasts.apple.com/us/podcast/uncommon-core/
Today, I’m sitting down with Su Zhu, my co-host and friend, to talk about the state of the crypto market and what he’s seeing on the horizon.
Su is the CEO as well as Chief Investment Officer at Three Arrows Capital, one of the largest trading firms in crypto.
Just one thing before we dive in, we make no money from this podcast we do want to grow our audience. so please take the time to leave us a rating and review on Apple Podcasts. It really helps a lot with discovery. Thank you.
Apple Podcasts https://podcasts.apple.com/us/podcast/uncommon-core/id1517659188
Su Zhu https://twitter.com/zhusu
Today, we bring you a special episode. This is actually Part II of an interview I did with Anna Rose of the Zero Knowledge Podcast, and Tarun Chitra of Gauntlet. We explore the rise of governance tokens by looking at Sushiswap as our case study.
Part I has been released on the ZK podcast and you can find the link to it in the show notes. It's not necessary for you to follow along, but it was a great and very lively discussion and I still recommend you listen to it first.
Finally, we recorded this episode the day before Uniswap launched its own token. So keep that in mind when you hear as speculate about its future.
Enjoy!
Listen to Part I https://www.zeroknowledge.fm/148
(RSS: https://feeds.fireside.fm/zeroknowledge/rss)
Anna Rose https://twitter.com/AnnaRRose
Tarun Chitra https://twitter.com/tarunchitra
Today, Su and I talk to Will Price and Trent Elmore of YAM.finance.
YAM launched last month as a mix between Yearn’s fair launch, Ampleforth's supply elasticity, and Compound’s on-chain governance. And while its launch was short-lived (it had to shut down from a bug only two days later), it inspired a whole wave of food coins that tried to replicate its initial success. In this episode, we explore what made YAM so successful and what might be in store for the future.
Will Price https://twitter.com/will__price
Trent Elmore https://twitter.com/trentelme
Su Zhu https://twitter.com/zhusu
Today, I brought on Dan Robinson and Georgios Konstantopoulos, who are both research partners at Paradigm. Together, we explore the topic of MEV, or “Miner Extractable Value”.
Blockchains like Ethereum have this dirty little secret that, while in most regards they are very decentralized, the ordering of transactions within a single block is actually completely in the hands of a single miner. They can insert their own transactions, rearrange those of users, or even censor them completely.
MEV describes how much value a miner can extract from users and other miners by using these powers to their advantage.
If you’ve never looked into MEV before, I think you’ll be both shocked and fascinated by the complexity and sophistication of the war that’s raging inside Ethereum’s memory pool. Enjoy
Dan Robinson https://twitter.com/danrobinson
Georgios Konstantopoulos https://twitter.com/gakonst
Hasu https://twitter.com/hasufl
Flash Boys 2.0 (Daian et al) https://pdaian.com/flashboys2.pdf
Welcome to the first episode of the Uncommon Core podcast. Su and Hasu talk about the future of custody in crypto. Follow Su on Twitter Follow Hasu on Twitter
En liten tjänst av I'm With Friends. Finns även på engelska.