Only up: the propAMM infrastracture we built with @gattacahq and @class_lambda keeps growing.
We almost did 1.5 billion dollars in volume in @ethereum the last 3 months.
Amazing work team. @alignedlayer and @polfinance_ have also been helping us. Thanks everyone, we will keep growing and making Ethereum better by giving users the best possible price in the market.
1/ BIT-0011 proposes a big change to Bittensor: subnet ownership stops being permanent and becomes an ongoing contest you win by locking ALPHA to build "conviction." We read the spec and the on-chain data. Two findings. ๐งต
8/ Open questions for the team: what lock_interval (ฮป) are you targeting, and which of the two goals do you give up? Can a validator lock delegated stake, or only its own? And where does the 18% go when no one clears ฮธ?
9/ We want this to work; these are the two things we'd nail down before launch. BIT-0011 is an open draft and we read it as outside analysts, not as an audit. Full write-up + per-subnet attack-cost map:
blog.pol.finance/posts/bit-0โฆ
1/ PropAMMs need fresh prices, which needs cheap updates and short blocks. Ethereum L1 has neither. So how did they just show up on Ethereum? One builder, Titan, found a practical workaround. ๐งต
7/ Does it work? On stable pairs, yes: a $100k USDC/USDT trade quoted 0.40 bps vs Binance's 3.56. On large volatile trades it loses, and erratically, where Binance's deep book still wins. The edge is real but conditional
8/ Full mechanism and the open questions in the post๐. This is a live, fast-moving topic, treat the exact numbers as a snapshot blog.pol.finance/posts/what-โฆ