CSK3442

24 hour timelock added

Been here long enough to remember how the 'battle' of nft marketplaces on solana went. Pretty frustrating to see perps approaching things a similar way. Why can't they all win together?

Solana community perps test
A - I've never used perps
B - I got shilled them but immediately felt lost on the platform then left
C - I tried using them but got rekt pretty fast
D - I'm a perps pro and understand how they work

Far too many bullish posts about perps on solana and basically 0 instruction manuals on how to use them. If you can't see a problem with this then I don't know what else to tell you

One of the main issues I see when people trade with/talk about perps is that they misunderstand what they're actually for. The main assumption is that they believe there's more risk when it's actually meant to be for the complete opposite
-leverage can act as an insurance policy against a protocol getting exploited
-leverage can limit the drain size of a single personal wallet if you get exploited
-leverage can reduce stress if an exchange suddenly halts withdrawals
-leverage forces the trader to identify where they are wrong
-leverage caps max risk if there's a significant impulse of volatili

Solana perps exam
What position has the largest notional size
A - 5x leverage $1000 margin
B - 25x leverage $200 margin
C - 2x leverage $2500 margin
D - 200x leverage $25 margin

Take a bow Dubois & Wardley one of the best fights I've ever seen

Volume, OI and market share might look good on paper for founders/teams, but are empty measurements of success if most traders that use the platform get rekt. If the community really matters, it's time to look after those same people if you want to win long term

CT is the type of crowd to look at the sandisk chart and say it's just getting started

Solana perps are posturing for another boom and bust cycle unless there's a fundamental shift. 35 perp dexs aren't going to fix this problem. Gud tech helps but it's much deeper than that

Keep seeing similar discussions cycle around on the solana perps situation. Whilst some takes are valid, all of them are missing key factors that I'm yet to see anyone address. More on this soon

The evolution of small cap altcoins
2016/2018 - 4-6M - low cap gems 1-2M
Common target 50-100M+
2020/2022 - 20M-50M - low cap gems/degen sub 10M
Common target 500M-1B+
2024/2026 - sub 100K - low cap gems sub 25K
Common target 200-500K
Something went incredibly wrong here...

Can't deny that DeFi tech is ahead of its time however opsec is stuck in 2003

The biggest issue I find with security audits is that they validate a moment in time. It's the gap between them that needs more attention. A protocol can pass an audit Tuesday and rotate to a single signer with no timelock on Wednesday. To the general eye it looks fine with the audit displayed on the website. Yet the reality on-chain tells a different story
Continuous public opsec visibility does what audits can't. Protocols are 'motivated' to maintain the standard they passed on and holes get noticed faster. Same reason open source catches bugs faster than closed