Building decentralised crypto infrastructure to liberate human potential @chainflowpos & @chainflowsol 🌞
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Permissionless capital markets
Censorship-resistant capital markets
Decentralised capital markets
This is why I'm here
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Unpopular opinion
Nakaflow now puts @Solana's Nakamoto Coefficient at 6.
Not because the network changed, but because we changed how we count.
Most trackers report ~18 by counting validators. Grouping them by the operator actually running them, building on @andreivacariu_'s research, gives 6 operators holding more than a third of stake.
More NC data for proof-of-stake blockchains 👉 nakaflow.io
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The coordinated pumps are getting worse every cycle, as they become more concentrated on a smaller number of coins by an ever more powerful group of shills
My hope was it would go the other way as people become more experienced and "sophisticated" but human nature so...
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©flows / Chainflow retweeted
Some folks seem surprised that Bitcoin's exchange rate is holding up after the failure of the Clarity Act.
Truly I tell you: Bitcoin needs no support from governments. All it needs is for governments to continue shooting themselves in the foot fiscally.
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©flows / Chainflow retweeted
The Jito DAO is currently voting on JIP39, proposal to direct 25% of jitoSOL pool to a single Jito operated validator.
As a DAO delegate tasked with voting some of the treasury's JTO & representing the DAO's interests I have shared some questions: forum.jito.network/t/jip-39-…
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©flows / Chainflow retweeted
250ms slots activate at epoch 1037.
Also this week: Two validators went offline this week while the validator process was completely healthy.
Full breakdown 👇
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In case you're new around here, a blockchain without decentralization is a slow and inefficient database
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©flows / Chainflow retweeted
Almost 3 years later we're still running it, still finding the bugs, still think client diversity is worth the cost. 🌞
The @ChainflowPOS @jump_firedancer Solana testnet validator is now running 💃
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*is
Govt feels broken. 18 months of work between our industry, dems and republicans and Clarity falls apart on the 5 yard line. All the issues got to a hard fought compromise other than one. On Ethics both sides dug in and decided their stance was more important than the long run good of a major industry and our countries chance to lead it. Republicans were afraid of putting real limits on a President’s ability to profit from digital assets. Dems decided that this one industry is where they would fight a corruption battle. They were scared to be seen doing anything that could be perceived as being soft on the President.
There had been a bi-partisan proposal that would have worked but it got hi-jacked in the politics of it all.
I am very disappointed that neither side could find a way to cross that chasm. I know there is an election in 7 weeks and that dominated the actions of both sides. What is crazy is the I honestly don’t believe crypto and this bill will be a top 10 issue in this election. It was in 2024 but this year will be about the war, inflation, affordability, Ai , immigration and what party has a better answer to those questions.
I do have faith that the SEC and CFTC will drive on with rules for the road and hopefully in time congress will find a way to memorialize them so people can have a longer term confidence in how digital assets will be treated in the US.
Maybe Mitch McConnell coming back in a wheel chair after 90 days was s comic signs to amplify how broken Congress is.
We go back to work tomorrow. And continue building.
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BREAKING: Politicians disappoint the crypto industry
(This would be a lot more ironic if crypto was still a movement)
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©flows / Chainflow retweeted
I want to host technical debates at Scale or Die
What do you want to see debated?
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©flows / Chainflow retweeted
Good article. The forest has gotten a lot darker this year. Apologies for the long tweet but I have a lot of thoughts as we've seen these trends grow.
1. These services claim no front-running but enforcement is spotty and retroactive. We saw persistent sandwhiching instances from them on popular retail apps that were not corrected until outside intervention.
2. SOL's investment pitch is REV. With these and similar deals, REV capture is structurally declining. The value still exists but it's captured in opaque side deals. Our community should probably rethink REV as a KPI if we accept these as inevitable. It is going down only as these arrangements proliferate.
3. Stakers get screwed. Opaque yield is captured by validator operators or sophisticated institutional stakers that shop their stake to the highest bidder. Average staker doesn't have knowledge or access to this. This further reduces incentive to own SOL.
4. This disadvantages less sophisticated validators and centralizes stake. Each validator builds their own prop trading operation to internalize the profit. Only a handful have enough scale to do it right and capture maximum value.
Jito was founded to bring structure to the dark world of Solana MEV capture. The system is transparent, identical for everyone, whether big or small validator, and stakers of any size. The mechanism includes strong protections to prevent info leakage and front-running. In some cases, this structure means slightly less yield.
BAM was introduced a year ago as the next generation of block building. It has ~35% of network stake. BAM's design prevents most side deals. It was designed to put the network's user first - that rigidity is actually our biggest blocker from a validator onboarding perspective. Many operators want flexibility for side income they can keep for themselves, despite the impact on our network's lifeblood: users.
MCP solves some of these concerns but makes others worse. Regardless, the train has left the station and MCP isn't going to fix it soon.
I appreciate Andrei surfacing some of these items. We as a community should make proactive decisions about how we want the network to operate and what our ultimate values our.
The status quo is letting it quietly change under the surface: centralized stake, disadvantaged retail stakers, little REV and worse user execution.
The window for real discussion is now, otherwise the momentum will be irreversible.
Orderflow article is out.
Private TPU feeds, a rev-share vault, and the validators getting paid from it.
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