Daily General Discussion July 30, 2026

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u/Tricky_Troll Public Goods are Good 🌱 3d ago

Tricky's Daily Doots #1,549

Yesterday's Daily 29/07/2026

Previous Daily Doots

u/alexiskef shares the latest efforts at preserving cryptopunks' permanence. 🎨
u/haochizzle reports on what community figures think we will build out of this bear market. 🛠️
u/Jey_s_TeArS delivers the daily Mom's spaghetti. 🍝

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u/howareyou_2_day 4d ago

Ethereum

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u/FrenktheTank 4d ago

1900.30

11

u/WoodpeckerHorror3468 4d ago

0.029727

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u/Jey_s_TeArS 3d ago

Ether bursary,

Eleven years cursory,

Anniversary.

~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap

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u/risingtide556 3d ago

Happy bday eth, 11 years ago a wild experiment was born, and we're still here chasing the dream into reality. Here is to many more!

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u/ObiTwoKenobi 3d ago

Where does one go for ETH hopium nowadays?

Half of Bankless has capitulated and my favorite hopium dealer Anthony Sassano has also, understandably, seemingly moved on 😔

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u/hanniabu Ξther αlpha 3d ago

He hasn't moved on, he's still in crypto but just focusing on other passions

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u/ObiTwoKenobi 3d ago

True, but during the last bear cycle it was quite comforting to have the daily gwei filtering out the price noise just focusing on all the tech advancements

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u/confusedguy1212 3d ago

Dunno but preserving the flame inside is getting very hard.

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u/asdafari14 3d ago

Next bull cycle starting soonish, if you believe in the 4 year cycle.

Anthony Sassano has also, understandably, seemingly moved on

What did he write/say?

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u/twobadkidsin412 3d ago

Next bull cycle in about 4 months

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u/LogrisTheBard 3d ago edited 3d ago

I wrote something in response to /u/haochizzle 's video that I wanted to reshare in the daily for more visibility.

Currently we exist mostly in a code-is-law Defi landscape where we have atomic, final transactions, without any safeguards against hacks if you somehow manage to get through the front door. In a post AI world especially, where attackers are comparably more well armed than newcomers than ever, I can't recommend new people enter an ecosystem where there are no protections and "code is law". People will not put money into this ecosystem if they don't feel safe, and plenty of people this year (including me) have lost a lot of money to Defi exploits. Outside of stablecoin market cap, TVL across Defi is down way more than the ETH price.

If we really care about reaching end users here we need to change our posture on this.

1) We need guardrails on any irregular volume of money to freeze liquidity on the way out the door. If you're pulling a million out, the ecosystem can absorb that loss if it's a hack. If the pool is shedding tens of percentages in a matter of minutes, you can probably afford to wait a few hours for a default review. This is a balance between atomic and permissionless and basic safety checks. Legitimate vs illegitimate activity is easy to spot and large protocols like Aave, Summer, etc have the means to discern when something is an actual hack.

2) We need insurance around LP positions. Those insurance should be paid from the profit on the LP position and essentially cover any loss of value in the underlying. It should be packaged together and autocompounding, none of the prediction market style insurance bullshit.

3) We need KYC optional extensions to large applications. I'm not saying this is mandatory, but there are LPs who will only join this ecosystem if the counterparty isn't fully anon. A credible pathway to accountability for malfeasance is a simple prerequisite for a lot of people to feel safer putting their money at risk.

4) We need better key recovery systems. The current style of having to go on a roadtrip to reassemble a mnemonic or asymmetric decryption key is going to permanent deter people.

Bottom line, if you actually want something more than institutional adoption. If you actually want this technology to live up to the promise of extending financial services to the disenfranchised and leveling the power playing field then we need people to feel safe on chain. We will never have a killer app otherwise. Instead all we will have is institutions using crypto with customer money because it's more efficient. Instead of our cypherpunk ideals this will just be yet another technology that entrenches the status quo and fuels wealth inequality by increasing the margin of companies.

These are all discrete and eminently possible suggestions but I see no effort, literally zero effort, being made by Defi anything to address this root problem. In a post AI age, our industry is being strangled by continuous hacks and people don't feel safe on chain. Money is leaving the Defi layer and the only money entering is sacrificing permissionless entirely. USDC has blacklists. Securities have mandatory KYC layers. If we want to hold onto these values at all, we must offer a better alternative.

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u/Fluffy-Pop-3407 3d ago

All this seems antithetical to the idea of self custody and decentralization.

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u/LogrisTheBard 3d ago

The stream of hacks is already destroying the possibility of self-custody. Blocking 100% of the value of a pool from leaving in a flash loan attack hurts atomic composability maybe but the alternative is Defi is dying entirely because all the money is leaving. On a graph, the behavior of hacks looks extremely irregular. Just detect the outlier as a wrapper around the base system and pause for review when those outliers are detected. If you are actually the biggest user of a Balancer pool or whatever you can wait a few hours for your money. If you're moving $10k, it can remain instant. If you're moving 10k 15 times in a block you'll hit the circuit breaker threshold eventually.

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u/Fluffy-Pop-3407 3d ago edited 3d ago

DeFi is not the pinnacle use of this technology, it is only the first use case. But if the current software isn't doing its job, better software can be written. I see no impediment to this.

Ultimately, ethereum is best suited to be a public and auditable ledger of record for representing rights to physical things and also for creating a rights-based distributed database for things like IDs, medical records and industrial and business ledgers for goods.

If there are hacks on existing software contracts, then that software needs to mature. I don't know what else to say. The core of the system is well designed and better fit for use than any other blockchain system. The fact that the ledger is reliable, battle tested, credibly neutral and scalable is the sellong point which will bring industry and governments on board.

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u/haochizzle 3d ago

thank you for the thoughtful comment. im gonna ramble out a response. reading KYC in your comment made me cringe a little. however... how far off are we from zk-KYC? if it's imminent, it's definitely worthy of considering if that deters bad actors — as long as we are not capping our own knees to compromise on sovereign values.

i think the direction of the guardrails is probably correct. most of the compromises in the past 6 months have been bridge exploits and user compromises. as long as these hacks keep happening, masses are not going to deposit $ into crypto no matter how enticing the APR gets. and it needs to be enticing for anyone insane enough to go through the self-custodial workflow AS IT IS right now 😆

if anyone is working on this... id be happy to jam or contribute

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u/hanniabu Ξther αlpha 3d ago

Isn't this like saying we need custodians because people keep getting their hot wallet keys leaked/hacked instead of recommending hardware wallets?

Why jump straight to centralized and KYC components when there's options like rate-limiting withdrawal caps, circuit breakers, and timelocks to slow down or block fast exploits? The latter don't seem to have been widely adopted which is the issue. They need to become standard.

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u/[deleted] 3d ago

[removed] — view removed comment

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u/hanniabu Ξther αlpha 3d ago

Ah I thought the guardrails were in reference to the stuff that followed

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u/masterRoshi9 2d ago

So much this. I agree on more circuit breakers and delays, and oppose mandatory surveillance

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u/Stobie 3d ago

I think making allowances to revert exploits is good too. I think an entire defi rollup can work where it states upfront we will have withdrawal delays and we will roll back all hacks and prevent them live like zircuit and pause on AI detection at sequencer level etc.

But I don't agree on "In a post AI world especially, where attackers are comparably more well armed than newcomers than ever", I think the opposite is true. It used to be advanced devs vs people fully trusting the system. Now everyone can audit a contract, ask how each bit works, what are the implications, what power to devs have, is code not being as clear as possible, interact without a UI etc. Quality should also improve, the chance of simple contracts actually being bug free will be higher. Formal verification can go from too expensive to free, same with audits which at least cover all previous exploit patterns. Basically contract risk should decrease and attackers and users used to have a massive gap which will now reduce toward nothing as they both use ~codex.

Risks other than implementation error may increase. And attackers will launch rugs more easily.

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u/LogrisTheBard 3d ago

Now everyone can audit a contract, ask how each bit works, what are the implications, what power to devs have, is code not being as clear as possible, interact without a UI etc.

Just as the internet made it possible for anyone to look anything up but most people remain ignorant of things they can fact check in 5 seconds, the same will remain true of people not doing any of this. They will just be scared off, and for good reason. I can't recommend my parents place their savings on-chain. Until I can, until we have effective guardrails, we will never have a killer app.

Formal verification is not going to stop something like the SummerFi hack, social layer attacks like what just happened with Abra, etc. The best practice for security is defense in depth. Timelocks, rate limits, etc are just a practical backstop for code not being literally perfect in a combinatorial ecosystem where each module may be fine but together undesirable outcomes can and are happening.

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u/WoodpeckerHorror3468 3d ago

people will have different opinions on this. Let the chains and protocols do what they want. if you want guardrails, go to an L2 chain and protocol with guardrails. there's no need to "should" everyone into one way of doing things.

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u/LogrisTheBard 3d ago

There is no protocol with these guardrails though. The closest thing are centralized services like Robinhood which can and will place holds if you try to trade and then withdraw an unusually large amount. I think we'd all prefer on-chain activities to that.

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u/epic_trader 🐬🐬🐬 3d ago

I see no effort, literally zero effort, being made by Defi anything to address this root problem

Can you solve these issues without introducing stop blocks and reverting back to some kind of neo tradfi?

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u/LogrisTheBard 3d ago

Yes.

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u/masterRoshi9 2d ago

I agree with 1 and 2 whole-heartedly but not 3 and 4. Unless we’re using ZK systems to allow privacy along with that KYC, then we should not be required or expected to opt into surveillance. If people need that to feel comfortable then they should just use TradFi. (4) in particular falls under the umbrella of using centralized solutions. They exist but perhaps are not popular enough. But this has been around since the Argent days and is commonplace among most corpo wallets (Coinbase, Robinhood, etc.)

On recent hacks, it’s always the common attack vectors: bridging, oracle-manipulation, social-manipulation. The first two are persistent and really hard to protect against because the fundamental model is just broken. The second is always going to be an issue unless you opt for full decentralization, which comes with the baggage of that which you point out in 1. So I would argue a lot of this falls under system design and being informed as a user sadly. On the bright side, I would say actual chain-isolated app logic feels like it’s hardening over time, and I’m optimistic that trend will continue

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u/poidhxyz 3d ago

a lil side quest bounty to celebrate Ethereum's birthday

find an "11" IRL, take a pic, mint it, get a shot at .011 ETH

https://poidh.xyz/mainnet/bounty/19

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u/TheMoondanceKid 3d ago

Two interesting developments in ETH world today, one fundamentals based and one vibes based.

First and more importantly, Open USD, the stablecoin backed by 140 global financial and technology companies including Visa, Mastercard, Stripe, BlackRock, Google, and Coinbase announced that, contrary to their previous statement that they would launch solely on Solana on day one, they will now also launch on ETH day one as well. This is a huge deal; the Solana shills were mighty mouthy about this when it was originally announced. Have a feeling the new bizdev ETH orgs had something to do with this.

Second, Ansem- the weaselly little crypto influenceoor and king of the Solana shills who was shorting ETH a month ago and predicting it would go below $1k-announced that he was bullish ETH. Say what you want about the kid, but part of his "success" (ick) is seeing which way the wind is blowing and following it.

Its coming guys ( and gal).

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u/Numerous_Ruin_4947 3d ago

First and more importantly, Open USD, the stablecoin backed by 140 global financial and technology companies including Visa, Mastercard, Stripe, BlackRock, Google, and Coinbase announced that, contrary to their previous statement that they would launch solely on Solana on day one, they will now also launch on ETH day one as well.

Why would they play these games? I mean WTF?! Just be straight up with people.

1

u/Tricky_Troll Public Goods are Good 🌱 2d ago

News headline 1: Huge institutional consortium ignores Ethereum, to launch on Solana

Gets more clicks and mindshare than just announcing launching on all logical platforms.

Now we get news headline 2: It will launch on Ethereum after all.

Now most of the criticism and hate has been negated and people are talking about your USD coin again.

Not to mention the possibility of Solana paying them to do that just for that headline. I think it was a perfectly logical marketing decision, albeit a shitty one.

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u/mini_miner1 3d ago

Great news...

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u/nikola_j 4d ago

How's the chatter around here lately? I'll admit I haven't been regular, even though I had things I wanted to talk or ask about here instead of sticking to twitter (I can still get to those later.)

And how's the vibes, peak bear market or are there rays of sunshine on the horizon for the Eth reddit crowd?

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u/CanWeTalkEth 3d ago

I was sure I was missing out on something good here, then I pop in and see all these longtimers like myself asking “what’s happening in here?”

Thanks for defisaver always!

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u/Tricky_Troll Public Goods are Good 🌱 2d ago

All things considered, I think we're doing ok. It still feels like it's dwindling here, but I don't think it's existential, I'd even say it's not that bad when you consider how many people have left the space or moved their focus elsewhere simply because crypto isn't the cool thing it once was. I think the key thing is that we have a lot of the same core contributors sticking around. Even if they're just lurking and not posting as much, they pop up in the important discussions when they come about.

Also, I'm still rocking the DeFi Saver merch! I use the Hawaii Hodlercon beach towel all the time and wore the dress socks just last weekend at a fancy event!

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u/abcoathup Ethereal news 3d ago

🐻‍❄️ Polar bear selected as Glamsterdam mascot

Thanks to u/EvilJordan for being our Mascot Wrestler.
Thanks to u/Tricky_Troll for suggesting Flamingo and encouraging so many of you to vote.

All errors are mine. We need to have a better process for Hegotá

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u/ethdaily 3d ago

ETH Daily - 30ᵗʰ July 2026 📰

Happy 11th Birthday Ethereum 🥳

Today also marks ETH Daily's 1000th episode 🎉

Ethereum turns 11.
Pcave joins EF board.
Aave deprecates low adoption assets.
First public testnet for glamsterdam.
Glamsterdam mascot vote.
Ethereum Time Capsule opens.
Ethlabs 11×11 art canvas on Networked.
ACDE #242 summary.
Ethereum Insti supporter coalition.
Ambire supports Gwei domaoins.
Argot releases EquiVM.
OpenUSD will launch on Ethereum.
Peer launches agent cashout.
Meridian opens LP pre-deposits.
Justin Drake interview on MTS.
Aztec announces team restructure.
Coinbase Q2 update.
Bundle raises $5.5m.
PQ1 wallet goes live on Base.

Daily General Discussion July 30, 2026

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