Phil Fogel ( 🦇, 🌳, 🍾)
@Philfog
Crypto Fashion Icon Co-Founder @Corkprotocol, @weareflowcarbon, @Corner3VC
After nearly a decade of hands-on research, I have uncovered a new fundamental constraint in crypto protocol design: The #SwagTrilemma. Let’s dive in 🧵
A phenomenal thread on the development of DeFi credit markets. If you play yield games in DeFi I suggest you read this one.
Tweets like the below from @eth_everstake make it clear how misunderstood DeFi debt markets are. No, validators are not exiting to restake, change operators, or lock in profits. Lol. Lmao, even. As the stETH loopers know well, Pumpfun isn’t the only game in town right now… DeFi…
Tweets like the below from @eth_everstake make it clear how misunderstood DeFi debt markets are. No, validators are not exiting to restake, change operators, or lock in profits. Lol. Lmao, even. As the stETH loopers know well, Pumpfun isn’t the only game in town right now… DeFi…
Something big is happening in Ethereum staking. The Ethereum validator exit queue just hit its highest level in over a year - more than 520,000 ETH that’s over $1.9 billion at current prices, lined up to leave. This queue will take ~19 days to fully clear. Thread: 👇
Probably nothing!
🚨 Breaking news: @GoogleCloud is integrating Self's proof-of-humanity ZKPs to bring new use cases powering AI adoption & Web3 innovation for human users 🧵 Read more about how Google Cloud & Self are ushering in the era of data privacy ↓
It is use cases like this which highlights even in very low risk assets like stETH, there are still time to liquidity risks which can meaningfully impact the peg This is why we built @Corkprotocol to serve as a liquidity buffer for periods of extreme outflows
Rough timeline of events here: 1. Justin Sun pulls ETH supply from Aave. 2. Utilization spikes ETH borrow rates on Aave. 3. stETH loopers are now unprofitable, so start de-leveraging. 4. A bunch of this de-levered stETH hits the staking withdrawal queue. 5. stETH depegs 30 basis…
Wow! What a time to be alive!
CLARITY passes the house 294-134. What an incredible moment.
In one way or another, I've been working on institutional adoption of crypto for almost a decade. It finally feels like it's really here, and that we can start building DeFi for institutional adoption.
Excited to share that we have joined the @Circle Alliance Program, a global community of teams focused on bringing the world on-chain, powered by USDC!
I get into the world of Web3 entrepreneurship with @robdogeth, a serial founder who’s navigated the highs and lows of building startups in carbon markets and blockchain. Rob shares his journey from leaving university to co-founding @Corkprotocol, spilling hard-earned lessons on…
What crypto needs is assets that have negative correlation 👀
1/ Market correlation != causation, but when 90% of top crypto assets move within 2% of each other during volatility, you're looking at systemic risk masquerading as diversification. Current data: BTC -0.62%, ETH -0.24%, SOL -2.10%. The "uncorrelated" narrative is dead.
Money is one of the most important inventions ever…and it’s totally changing right in front of our eyes
How stablecoins become money: Liquidity, sovereignty, and credit by @SamBroner a16zcrypto.com/posts/article/…
Cork swag old and new was spotted all over @raave White Party last night!!
Proving the #SwagTrilemma at @raave
Which outfit should I wear to the @raave white party tonight at @EthCC ?!?
We got so many requests for the @Corkprotocol tennis outfits we had to find to get some more out into the wild!
Loved the Cork x Lacoste tennis outfits at Match Point EthCC? 🎾 Want to win your own? To enter the raffle: ✅ Like & RT this post ✅ Share your favorite pic with Cork swag ✅ Tag @Corkprotocol Prizes: 👕 Polo + Shorts (men) 👗 Dress (women) ⏰ Hurry—raffle ends in 24 hours!