In today’s episode, Mike and Myles dive deep on Curve’s $70M exploit, deconstructing DEX design frameworks, and reviewing the wider ecosystem consequences of vulnerable chain infrastructure. We then move on to assess Coinbase's L2 'Base' launch and touch on meme coin of the week, BALD, hitting $100M+ market capitalization in under 48 hours! The guys also think through network effect accrual before discussing Barnabé Monnot’s PEPC, an enshrined protocol gadget, and close out on Coinbase’s optimistic Q2 Earnings!

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Timestamps:

(00:00) Introduction

(00:26) “Permissionless Ad”

(01:22) Introduction

(02:44) $70M Curve Exploit 

(07:43) DEX Architecture 

(20:41) Wider Ecosystem Consequences & Chain Design Learnings

(23:46) Base Launch Review 

(25:49) Network Effect Accrual: Network Execution, Data Availability or Settlement Layer?

(54:22) PEPC: Protocol-Enforced Proposer Commitments

(1:13:42) Coinbase Q2 Earnings 

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Follow Michael: https://twitter.com/im_manderson

Follow Myles: https://twitter.com/MylesOneil 

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Research, news, data, governance and models – now, all in one place. As a listener of Bell Curve, you can use code "BELLCURVE10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/

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Use code BELLCURVE30 to get 30% off Permissionless 2023 in Austin:

https://blockworks.co/event/permissionless-2023

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Resources:

PEPC FAQ:

https://efdn.notion.site/PEPC-FAQ-0787ba2f77e14efba771ff2d903d67e4?pvs=4

Coinbase earnings:

https://blockworks.co/news/crypto-stocks-stumble-earnings

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Disclaimer: Nothing said on Bell Curve is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mike, Jason, Michael, Vance and our guests may hold positions in the companies, funds, or projects discussed.