Unironically, @PhoenixTrade is much more exciting than @HyperliquidX. Censorship resistance matters, and regulatory scrutiny is an existential threat to Hyperliquid. To be resilient, we need more decentralized perp DEXes that actually run on the L1.

The inbound transfer of IBC assets to @SeiNetwork has been disabled, following a community proposal. Any wallets still holding IBC assets on the Sei Network need to bridge those tokens before outbound IBC transfers are also disabled. Here's how:

As the Sei protocol completes its transition to a unified, EVM-only architecture, exchanges and custodians supporting the SEI token need to migrate customer holdings before support for Cosmos and IBC-related functionality is deprecated

MIT's @ccatalini was at the Sei offices to talk about the economics of AGI for rcnyc. What happens when intelligence is abundant and commoditized? The emerging solution is a verification economy, the only scarcity left. s/o @curiousgurnoor for the collab

reth 2.0 hitting 1 gigagas/s execution is a real milestone. but on its own it doesn't move the needle much. execution has never been the binding constraint on L1 throughput. consensus and data propagation are, and have been for a while. a faster execution client running on top of the same consensus layer still inherits that ceiling. most L1s still order things sequentially: sequencer produces a block, consensus commits, and execution runs. when execution is fast, the limitation is how quickly you can agree on what to execute next. if consensus takes 500ms and execution takes 5ms, you've got more performance than you can actually use. the interesting architectural work is improving consensus, and then decoupling consensus from execution. async execution, where consensus reaches agreement on ordering without waiting for state, and execution runs in parallel. multi-proposer chains like Giga are designed to make these performance gains usable

SIP-03 update: validators accepted a proposal that has effectively disabled new CosmWasm code uploads and contract instantiations. Existing CosmWasm contracts are unaffected. IBC transfers remain enabled for IBC assets. For more:

Multi-proposer blockchains are meant to solve the monopoly on transaction inclusion inherent to single-proposer chains. But multi-proposer designs only solve half of it. Censorship resistance keeps proposers from blocking your transaction; it doesn't keep them from reading it and extracting MEV. Why does this matter? Because in the context of trading, MEV creates inefficient price discovery. If blockchain is fundamentally trading infra, bad prices have follow on effects for the lending, prediction, and derivatives markets that consume those prices. Giga will account for this with Sedna, a protocol that splits each transaction into rateless coded symbols and disseminates small bundles of those symbols across multiple proposer lanes, such that no single lane ever holds enough fragments to reconstruct the payload. The result is a design that eliminates the most common forms of MEV (front running, sandwich attacks, etc.) almost entirely. For trading, that means order flow privacy is a property of the protocol. On single-proposer chains, the solutions for common MEV are application-layer workarounds: private mempools, encrypted order flow auctions, etc. These work to varying degrees, but they ask users to trust an additional party (i.e., trade one monopoly for another) or accept added latency. Sedna moves that protection into consensus, tying privacy to the same data layer Giga's consensus already requires for liveness.

Crypto didn’t evolve the way people expected. Instead it consolidated around one thing - trading I sat down with @jayendra_jog, Co-founder @SeiNetwork to talk about why most of the money, infrastructure, and now even institutional interest in crypto still flows through trading. We also discussed what that implies for everything being built next. 02:33 Why New York has become a crypto hub 03:23 Origin story of Sei 06:05 Fundraising during Terra and FTX collapse 13:51 Building a real company vs chasing narratives 17:27 Why stablecoins don’t fully work for AI agents yet 20:38 What being a founder actually changes 25:14 The next killer apps will still be… trading

Join our “Bitcoin in the Quantum Age” Masterclass happening tomorrow! ⚡️Join @dn2k and @muurshb from @SeiNetwork for a deep dive into how quantum tech could impact Bitcoin, what risks are real (and when), and how to actually protect your BTC. 🔗 Register now before it’s full 👇

Last week we co-hosted All Protocol Devs with @christine_dkim in our nyc office. Core devs and researchers from every major chain were invited to hang out and discuss how defi has grown up & transaction censorship in the wake of recent hacks. Thanks to everyone who came through

The Sei protocol was upgraded to v6.4 this week. It included the mechanism that allows the transfer of IBC assets to be disabled. Wallets holding these assets may have received airdrops with a reminder to bridge or swap before the Sei protocol becomes EVM-only. Links below: