servant to ChaosDAO. collator and vault runner. software engineer and project organizer. https://xitter.cf/t.co/fYP7s1dYWS https://xitter.cf/t.co/OSOdCKlVR3
Polkadot
Joined May 2012
- Tweets2K
- Following587
- Followers878
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spazcoin ☯️ retweeted
When Polkadot cut funding for pretty much everything in its ecosystem last year, most teams saw this as a way out — an excuse for their failing parachain, someone else to blame for their shortfalls
@hydration_net was arguably burned harder than anyone, rugging previously agreed liquidity incentives at the 11th hour. Instead of feeling sorry for themselves, they broke free from the Polkadot shackles and realigned their focus on what was important: becoming self-sustaining
Fast forward to today, and the majority of parachains have migrated, wound down, or are dying a slow, painful death
Hydration, on the other hand, has been shipping non-stop, including the following releases:
- PRIME US HELOC RWA strategy
- Brazilian invoice loan financing
- HOLLAR bonds
- Staking 2.0 (GigaHDX)
- Removed multiple underperforming assets from Omnipool (more to follow soon™️)
- Added PAXG to Omnipool and Money Market
-Native Wormhole integration
With more revenue-generating features in the short-term pipeline, this “bear-market” chart (since funding was stopped) is starting to tell an obvious story…
Hydration is the Polkadot escape💧
spazcoin ☯️ retweeted
Today at 08:51 UTC, a large tBTC deposit triggered a lockdown of tBTC on Hydration
Within 70 minutes, the Technical Committee reviewed the deposit and voted to lift the lockdown
On-chain security in practice
spazcoin ☯️ retweeted
@hydration_net implemented rate limits for sus high deposits last year and for sus high withdrawals this year, having all these exploits in mind and trying to do our best to mitigate them. Doesn’t matter if they happen outside or inside of Hydration if they can cause losses for our users.
Whole industry should implement such mechanisms ASAP
spazcoin ☯️ retweeted
Hydration is at the forefront of web3 security
We just launched our security_audit AI skill
Inspired by the skills of @pashov, specifically tailored to audit Rust, Substrate, and DeFi
With references to 200+ ecosystem audit findings by @dotpal_
github.com/galacticcouncil/h…
spazcoin ☯️ retweeted
@hydration_net have all of these, who else?
Every Defi protocol should have:
1. Circuit breakers for deposit and withdrawals, and possibly other internal operations as well
2. Timelocks for any change
3. Security councils that can shut down protocols immediately
We don't need insurance, we need to do start doing the ffcking basics correctly. It's too early for this space to drive without any training wheels.
I beg you, sacrifice a tiny bit of UX to gain a lot of peace of mind. The worst possible UX is losing your user's money.
spazcoin ☯️ retweeted
After 13+ years in crypto, I can confidently say that @gavofyork team is pretty much the benchmark for measuring real progress in blockchain technology. From a purely technological standpoint, Polkadot is practically the only platform I would recommend to a project that cares not about “just raising a round,” but about building a truly functional, long-term web3 product.
Everything that happened in the ecosystem was, of course, a total circus — but I saw exactly the same thing around Ethereum back in the day. It’s extremely difficult — or rather, downright unrealistic — to survive the hype bubble that inevitably forms around any such project like Polkadot at the moment it moves from the idea/prototype stage to its first real users in 2022. Quite simply, almost nobody actually understood what the parachain auctions were really about, and looked on it as ICO on Ethereum. I would really love to see much calmer price charts, more like what we had with Bitcoin and Ethereum before 2017 — back when Ethereum hadn’t yet created that insane super-bubble through Ponzi-like derivative tokens built on top of it. I think that whole phase is finally over now. The only bad thing about this entire bubble-deflating process is that Robonomics, through no fault of its own, accidentally lumped together with all those rotten parachains.
That said, Robonomics is probably the only genuinely alive project with a truly unique real-world use case that has been consistently developing on Substrate/Polkadot from the very beginning — since 2019, when it first became technically possible.
When I read that Parity and Gavin are now planning to build end-user applications directly on Polkadot, I see an absolutely identical trajectory to ours. Before, it was simply impossible to do what became possible only in 2022 — and only on Polkadot. We were the first to get a fully working product for building sensor networks exactly on Polkadot, and exactly in 2022, even though we had been trying to build something similar (sensors.social) since as far back as 2015.
It took 10 full years for it to finally become possible to actually build 100k+ real users products in web3. And that’s blatantly obvious only to those who have been closely following the core protocol development teams the entire time — and especially obvious to me, because I was one of the people trying to implement complex real-world physical scenarios on top of crypto all these years.
In short, the era of true builders in web3 is only just beginning...
TL;DR, @gavofyork’s latest @Forbes Argentina interview.
Gavin is clear: @Polkadot's Second Age is about moving from a decade of deep protocol engineering → to building the products, platforms, and experiences people actually use.
A couple of standout points:
• Sovereignty is the core theme.
People want to live on their own terms, not within a one-size-fits-all social contract. Polkadot’s next era focuses on tools that let individuals reclaim agency: identity, money, participation, and communities.
• Freedom is practical, not abstract.
Banks regularly exclude people; states don’t guarantee economic access. Until they do, alternatives like Bitcoin and decentralized systems matter.
• Argentina as an example.
Gavin sees the country moving toward “greater freedom” under Milei’s direction, a push toward a narrower state role in which optional, voluntary social contracts can thrive.
• On the US:
He avoids personalities but says every administration has expanded ambiguity and regulation. The system was chaotic long before Trump.
• On AI:
Powerful, useful, irreversible, and dangerous if people surrender judgment and identity to opaque systems. “If you give up curiosity and agency, you give up prosperity.”
• Polkadot’s future (5–10 years):
A platform where people interact with friends, family, communities, and society, with joy. A digital environment built around autonomy rather than extraction.
The main message: Polkadot’s next era is about people, products, and absolute sovereignty. Not speculation. Not hype. Actual freedom, delivered through technology.
🗣️forbesargentina.com/innovaci…
spazcoin ☯️ retweeted
AHM UPDATE: Account migration complete.
1.6 billion DOT migrated from 1.5 million accounts.
➡️Items processed: 1,512,216
➡️Failed: 0
migration.paritytech.io/
spazcoin ☯️ retweeted
Everyone’s talking about the Polkadot Asset Hub migration, and for good reason. It’s one of the most complex live upgrades ever attempted on a blockchain.
Parity engineers have prepped hard for this moment, and after a successful rollout on @kusamanetwork, tomorrow, Polkadot will move approximately:
1.6 billion in DOT (~$5B)
50,000+ stakers
1.5 million accounts
2+ million storage entries
From Relay Chain >> Asset Hub.
All on-chain, live, and without downtime.
Why? To enable the Relay Chain to focus purely on security and interoperability, while the Asset Hub becomes the hub for assets, balances, staking, governance, and stablecoins.
For end users, nothing changes; balances, wallets, and features will update automatically.
But under the hood, it’s an engineering feat with zero margin for error. Database migrations in Web2 fail 70–80% of the time; Polkadot is doing it live, in production, across millions of accounts.
spazcoin ☯️ retweeted
Polkadot (DOT) send, receive and staking support will be disabled on Coinbase from November 3rd to November 5th in order to complete the network migration.
Please refrain from depositing Polkadot (DOT) to Coinbase during this upgrade window. An update will be provided when service has resumed.
spazcoin ☯️ retweeted
🚨 Polkadot Runtime v2.0.0 is now in vote. This is a major upgrade that:
• Enables and schedules the Asset Hub Migration (block #28490502 ≈ Nov 4 @ 08:00 UTC)
• Finalises Polkadot optimisations - Asynchronous Backing, Agile Coretime, Elastic Scaling
• Introduces all prerequisites for Smart Contracts on Polkadot
⚙️ For Validators & Collators:
Testing showed potential slowdowns on relay nodes without a --db-cache parameter.
✅ Please add: --db-cache 8000 to your node configuration until further notice to prevent performance issues during the migration.
👷 For Builders: This upgrade completes the new Polkadot architecture, the foundation for high-throughput smart contracts and improved network scalability.
spazcoin ☯️ retweeted
$DOT community has stuck together through hell and high water, laser-focused on the tech and infrastructure and now moving into the product development stage. 💪
youtu.be/OjQSZRCo-8E?si=VRJQ…
spazcoin ☯️ retweeted
USDC in parachains surged from 40M to almost 140M in just a month! 🤯
All thanks to the the Asset Hub -> the new central Hub for managing & transferring assets across the Polkadot eco.
Since @binance & @cryptocom integrated it this month, we see USDC growing on a daily basis. 😁
Major benefit of running a @polkadot rollup instead an EVM contract - you can build in per-block or per-transaction rate limiting to protect users during black swan events
Examples of circuit breakers/ limiters/ automated defenses built into the @hydration_net protocol:
- you cannot trade more than a set % of a pool in a single block
- you cannot add or remove liquidity when prices deviate beyond some threshold based on protocol enshrined oracles
- you pay dynamic trade/ withdrawal fees during periods of heightened volatility
- bridge rate limiter - one of our newest additions. Pre-configured limits on 24h net bridge volume for non-native tokens - once this limit is exceeded the tokens are automatically locked on Hydration for 24 hours, providing critical protection from bridge exploits
- [coming soon] after the liquidation event on the 10th we’ll be adding oracle throttles to our Supply & Borrow feature. TLDR if oracle prices from external markets exceed some % change threshold vs our native market, we will limit that change % for a period of time. This allows for more orderly liquidations and prevents unnecessary liquidations from scam candles through shady CEX practices
Just a few advantages of building your own complete network stack 😉
spazcoin ☯️ retweeted
Which blockchain network will win in the long run?
The one, that provides the world's decentralized supercomputer.
Some are now more popular than others, thanks to first-mover advantage, bigger liquidity, NFT + meme culture.
But for Web3 to truly replace Web2, the network needs to scale.
And this is why I'm all in on Polkadot.
How Elastic Scaling, a Polkadot 2.0 feature, will allow to outperform the competition. 🧵(7min)
The scalability problem.
Networks need to handle a growing number of transactions. Without proper solutions, this leads to clogged systems, delayed verifications and higher costs for users (fees).
The biggest bottlenecks are:
🔹Constraints on block capacity
🔹Available bandwidth
🔹Data storage demands
🔹Underlying agreement protocols.
Polkadot 1.0
Everybody knows this story. Projects fighting for a 2 year slot on a Parachain auction. This was a high entry for small & medium projects.
Polkadot could handle up 50 Parachains (rollups) on 50 Polkadot Cores.
The block time on the Relay Chain was 12 seconds. But a Parachain could only enjoy 500ms of execution & 5MB of bandwidth during that time.
Polkadot 2.0
The three main features are:
- Asynchronous Backing
- Agile Coretime
- Elastic Scaling
Asynchronous Backing
This feature increased the throughput of Polkadot rollups by 8-12x.
- The Relay Chain block time went from 12 to 6sec, doubling the rollup throughput.
- 500ms of execution per block increased to 2sec.
- 3-5x more extrinsic per block.
Agile Coretime
This ended 2 year Parachain auctions and enabled selling Polkadot Cores in: Bulk & On-Demand.
🔹Bulk: 28 days with a possible renewal.
🔹OnDemand: Tailored & flexible - even 1block (small & medium projects, testing).
The revenue in DOT from selling Coretime is now being burned (9k DOT burned so far).
Elastic Scaling
Rollups now will be able to use multiple Polkadot Cores for one/more tasks, shorten block production time or add on-demand Cores if they have throughput problems.
🔹What's the current status on Polkadot?
Currently the Relay Chain can handle 120 Polkadot Cores.
There are 600 validators in an active set.
5 validators = 1 Polkadot Core.
What are the examples of a Polkadot rollup using currently 1 Polkadot Core?
🟥Mythos Chain (@playmythical ) - powering Pudgy Party, FIFA Rivals and NFL Rivals. Always top 1-4 in global NFT asset sales.
🟪Peaq (@peaq) - powering 50+ DePin projects.
If rollups will be able to use multiple Cores, this allows for building even more powerful, unstoppable Web3 apps.
Last year while testing Elastic Scaling, there was a Spammening event happening on Kusama (it mirrors Polkadot's codebase & architecture).
143k TPS was achieved using 23/100 Cores.
So already a year ago that gave a theoretical 623k TPS using full 100 Cores.
@paritytech just provided documentation for devs & founders, how to best achieve their goal with Elastic Scaling.
Projects have the need for:
🔹Compute (CPU weight).
🔹Bandwidth (Proof size).
🔹Lower latency (Block time).
They detailed 3 propositions for rollups:
🔹High throughput (TPS) & lower latency.
🔹High bandwidth.
🔹Ultra low latency.
🔸High throughput (TPS) & lower latency.
Using 3 Polkadot Cores to balance CPU, bandwidth & latency.
Gives up to 6sec of execution, 5MB/s of DA bandwidth & a 2sec block time.
This will be the most universal setup for Web3 rollups (e.g., Defi & gaming), also for CPU-intensive Web2 apps.
Mythical games is testing 3 Cores to handle massive NFT trades & in-game actions. They heavily consider going 1 big game = 1 Core (Pudgy Party, FIFA Rivals etc).
🔸High bandwidth.
Using 6 Polkadot Cores to achieve high bandwidth.
Gives up to 6sec of execution, 10MB/s of DA bandwidth & a 1sec block time.
First, what comes in my mind is the @hyperbridge. This will help optimize its bandwidth-intensive cross-chain interoperability protocol, allowing for efficient verification of Zk-proofs & seamless asset transfers across different networks.
This will also be awesome for @origin_trail, which needs bandwidth for their massive knowledge graphs for AI & enterprise solutions.
Remember, this can be also used on On-demand Cores (any time period, not fixed 28 days).
Think quick & intensive stuff: massive airdrops, NFT mints or account migrations.
🔸Ultra low latency.
Use 12 Polkadot Cores for ultra low latency & charge the most powerful apps.
Gives ultra fast transaction confirmations with 500ms block times & up to 20MB/s of DA bandwidth.
Here is the cool part, Peaq already successfully tried it on their testnet.
They achieved 49k TPS with a 500ms block time.
This is the power of just 12 Polkadot Cores.
Only Polkadot has the tech that Peaq needs.
Handling milions of humans & robots for the future Machine Economy is not possible on other chains.
It's almost the capacity of the whole Solana, but that's a monolithic chain. If it crashes or has 60% failed txn's, that affects every project on it.
Peaq using Elastic Scaling is indepentent & secured, enjoying shared security from the Relay Chain.
Remember, Polkadot is built to scale. If 100-120 Cores get utilized, more validators are added to an active set, allowing for even more Cores.
Now show me an ecosystem, that gives 500ms block times, 49k TPS & up to 20MB/s of DA bandwidth using 12% of the network capacity.
I'm waiting.
Sticking as always with Polkadot, the tech is remarkable & now the full focus in on new apps.🙃
spazcoin ☯️ retweeted
note to people that polkadot remediates this in a few different ways:
one is via using polkadot-api, which uses something called smoldot which runs a light client for you right in your browser. no need to "just run your own node" (no one will ever do this), it's built into dapps
the other is we have a remarkably decentralized and robust set of rpc service providers, like the IBP, who are running their own hardware in datacenters all around the world with redundant uplinks.
just say no to centralization of infrastructure, however convenient it may be
Great explanation of what triggered "Black Friday" crash.
Exploited a Binance design flaw with the cover of macro tariff announcement.
The Oct 11 Crypto Crash — What Really Happened
TL;DR:
Roughly $60–90M of $USDe was dumped on Binance, along with $wBETH and $BNSOL, exploiting a pricing flaw that valued collateral using Binance’s own order-book data instead of external oracles.
That localized depeg triggered $500M–$1B in forced liquidations, cascaded into $19B+ globally, and earned the attackers about $192M via $1.1B in BTC/ETH shorts opened on Hyperliquid hours earlier, but minutes before Trump tariff announcement.
It wasn’t a USDe failure!! It was Binance’s design flaw, timed with macro panic (Trump’s tariffs) for cover.
What looked like chaos was actually a coordinated exploitation of Binance’s internal pricing system, amplified by a macro shock and systemic leverage.
1️⃣ The Setup
Binance’s Unified Account let traders use assets like USDe, wBETH, and BNSOL as collateral.
Instead of oracle or redemption prices, Binance valued these using its own spot market - a major vulnerability.
On Oct 6, Binance announced a fix to move to oracle-based pricing, but rollout wasn’t until Oct 14, leaving an 8-day window.
2️⃣ The Exploit
During that window, sophisticated actors manipulated Binance’s order books, dumping ~$60–90M of USDe, driving it to $0.65 on Binance only (still ~$1 elsewhere).
Because the Unified Account marked collateral to internal prices, this instantly wiped margin value and triggered $500M–$1B in forced liquidations.
Then, Trump’s 100% China tariff headline hit, magnifying panic and liquidity stress.
3️⃣ The Profit Engine
The same day, fresh wallets on Hyperliquid opened $1.1B in BTC/ETH shorts, funded by $110M USDC from Arbitrum-linked sources.
As the Binance cascade unfolded, BTC and ETH cratered, those shorts netted $192M in profit before closing out at the bottom.
Timing, precision, and funding paths all suggest coordination.
4️⃣ The Contagion
Binance liquidations dumped BTC/ETH/ALTs into thin books.
Other exchanges mirrored the collapse through cross-market bots.
Market makers hedged across venues were forced to unwind everywhere.
Result: $19B+ global liquidations, with many alts down 50–70% intraday, all triggered by <$100M of manipulated collateral.
5️⃣ Who’s at fault?
Binance: design flaw + delay in oracle rollout = root cause.
Exploiters: executed and timed the manipulation, profited via external shorts.
Ethena (USDe): not at fault - protocol stayed 1:1 collateralized, redemptions normal, peg held everywhere else.
6️⃣ Aftermath
Binance admitted “platform-related issues,” promised compensation for affected margin/futures/loan users, and rolled out minimum price floors + oracle integration.
USDe remained operational, and the incident is now a case study in how exchange-side pricing errors can trigger system-wide liquidations.
Bottom line:
A ~$90M dump on Binance and a $1.1B leveraged short elsewhere sparked a $19B bloodbath.
Not a stablecoin failure, but a masterclass in exploiting flawed collateral valuation during peak macro stress.
spazcoin ☯️ retweeted
I'm sorry but trusted bridges have lost the "fast" criteria.
Secure interop now happens below 1 minute.
Increase bandwidth, reduce latency.
spazcoin ☯️ retweeted
They say the first half a billy is the hardest.
Stay hydrated, frens.
@hydration_net
