In this episode of Deeply Intents, I have a conversation with 0xprincess, founder of NuConstruct. We begin by diving into 0xprincess' journey through the world of arbitrage and the notorious dark forest, examining how MEV competition on Ethereum has evolved into today's competitive landscape. For the centerpiece of our discussion, 0xprincess breaks down TOOL (Trustless Orderflow Operations Layer), which effectively transforms Ethereum into a one second blocktime chain without requiring protocol modifications. After the TOOL deep dive, we examine ePBS (enshrined Proposer-Builder Separation), which leads to a thoughtful discussion on the EIP process itself, what works and how to improve it. Following this, we discuss the unique attributes that make Ethereum special, particularly its credibility. We close the episode with reflections on pseudoanon culture in crypto.Timestamps(00:00) - Nuconstruct origins(03:14) - DEX to DEX arbitrage(04:15) - Into the dark forest(08:30) - MEV competition today(13:28) - Liquidity network effects(19:42) - Trustless Orderflow Operations Layer (TOOL)(23:06) - Leader based consensus(29:06) - Open auction for orderflow(30:55) - Early confirmations and 1s bock times(36:00) - Trust Domain Extensions (TDX)(43:09) - Validator adoption of TOOL(47:30) - Fundraising(53:08) - Product mindset(57:28) - EIP-7732: ePBS(1:03:58) - Improving the EIP process(1:07:08) - Product discovery(1:16:34) - EIP Process is well polished(1:18:03) - Ethereum ossification risks(1:22:50) - Ethereum has credibility(1:29:24) - Price is not correlated with tech(1:33:00) - Anon and pseudo-anon culture(1:40:34) - The TOOL is live! (testnet)
DisclaimerNothing in this episode should be interpreted as financial, technical, or legal advice. The host does contract work for Heliax, a public goods laboratory, focusing on Anoma.
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1:42:38
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1:42:38
Worse is Better 2
In this episode of Deeply Intents, I speak with Jeremy Ornelas of Heliax, the company behind Anoma and Namada. We begin the conversation by discussing Jeremy's experience building an engineering team from the ground up. Next, we spend considerable time debating the affordances of Elixir and why it was chosen for the first Anoma implementation. After that, we discuss Anoma's Controller system at length, which draws some design inspiration from GenServers in Erlang. Later, we discuss the nuances of shipping viable products. We finish the conversation discussing object systems and relation to the Anoma Virtual Machine.Timestamps(00:40) - Boiling Frogs(03:55) - Engineering culture(09:40) - Weird programming languages(12:40) - Anoma loves Elixir(17:32) - History of Erlang and Elixir(23:02) - Phoenix(27:19) - Make cents for your bottom line(32:28) - Elixir is live and has actors(38:24) - Exploring the dominion of Anoma(44:26) - Controllers and local domains(50:27) - Ubiquitous compute(55:51) - Ethereum speaks Anoma(1:01:50) - All of this should be hackable(1:06:22) - Product focused organization(1:10:07) - What's the holdup on Anoma?(1:14:14) - Products that make sense(1:17:24) - Object system(1:24:12) - Intents in Prolog(1:28:05) - LLMs replacing devs(1:34:00) - The Blub Paradox
DisclaimerNothing in this episode should be interpreted as financial, technical, or legal advice. The host does contract work for Heliax, a public goods laboratory, focusing on Anoma.
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1:40:06
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1:40:06
Stop the Gaslighting - Josh Bowen
In this episode of Deeply Intents, I talk to Josh Bowen [founder of Astria]. We begin the conversation discussing Josh's background as an SWE at Google and his experience working on The Graph and Celestia before founding Astria. We discuss shared sequencers, the regulatory environment, and existential questions around use cases. Next, we move to a robust discussion on product design, application categories, vertical integration, and regulatory arbitrage. Later, we discuss live and dead players, as well as upcoming trends such as mobile apps and spend-focused adoption strategies. We conclude the conversation on MEV metagames, including the minutiae of PBS auctions. Timestamps(00:48) - Folding at home(02:45) - Data Availability 101(07:45) - Most startups are an act of desperation(12:04) - The shared lazy sequencer(19:00) - Scaling bottlenecks(21:00) - Navigating regulations(25:10) - Existential question of use cases(29:45) - Pragmatic product design(37:14) - The victory of the social technology(43:00) - Perps, yield bearing stables, & reg arb(47:49) - Equity perps and 24/7 trading(50:49) - FX trading onchain(54:59) - Prediction Markets(57:48) - Payments(1:05:39) - Orderflow and vertical integration(1:18:28) - Venture funding game(1:26:16) - Growth strategies(1:32:17) - No one knows what they are doing(1:43:00) - Live and Dead Players(1:48:13) - Mobile apps and wearables(1:57:43) - Airdrops and growth mechanisms(2:05:46) - Referrals and adoption strategies(2:18:24) - MEV Metagames(2:25:57) - Second-Price Sealed-Bid Auctions
DisclaimerNothing in this episode should be interpreted as financial, technical, or legal advice. The host does contract work for Heliax, a public goods laboratory, focusing on Anoma.
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2:33:39
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2:33:39
Credible Commitments - Murat Akdeniz
In this episode of Deeply Intents, I sit down with Murat Akdeniz (founder of Primev). We begin by discussing Murat's background in tracking FX rates of the USD against the Turkish Lira. Next, we dive into MEV-Commit, including the Devcon lore, applications you can build with MEV-Commit, and application-specific sequencing. Murat then schools us on everything product. In particular, product-centric building, advocating for the user from the research process to implementation, along with some general product management best practices. Later, we discuss the MEV redistribution trade-off and design space and the impact of regulatory reform on tokens. We finish the conversation on a light note where Murat shares his experience as a dad.(00:21) - FX origins(01:56) - Family Ties(04:59) - Devcon Lore(08:30) - MEV-Commit(13:09) - Preconfs for Bridges(17:16) - Building with Ethereum(20:41) - Compossability(25:00) - Product Leadership(30:44) - Trade-off space(35:07) - Designing auctions (38:33) - Native apps on MEV-Commit chain?(41:30) - A.S.S. [App Specific Sequencing](44:00) - Product adoption cycle(49:21) - Raising the bar(54:44) - Stable coin existential risks(1:00:11) - Endgame(1:06:54) - MEV redistribution(1:09:25) - Tokenized MEV(1:16:35) - Regulatory reform(1:21:11) - Being a Dad(1:25:27) - Encrypted Mempools need Love
DisclaimerNothing in this episode should be interpreted as financial, technical, or legal advice. The host does contract work for Heliax, a public goods laboratory, focusing on Anoma.
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1:26:53
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1:26:53
A Web of Our Own Making - Ellie Davidson
In this episode of Deeply Intents, I sit down with Ellie Davidson (Head of R&D at Espresso). We begin the episode by discussing Ellie's background working on products for Vanguard, her passion for technology, and her early time at Espresso as a consensus researcher. Next, we spend some time breaking down the different flavors of sequencing before getting into balancing Ethereum coordination with her role at Espresso. After, we spend some time on the Open Intents framework by discussing the ideal use cases for intents and solver economics. We end the episode by discussing Ellie's experience building the Compassable Podcast and how to maintain neutrality on the microphone. (01:03) - Working at Vanguard(02:31) - Innit for the tech(03:58) - Espresso loves privacy(06:03) - Shared vs Centralized Sequencing(13:51) - Espresso and Ethereum Leadership & Coordination(20:50) - Open Intents Framework(26:05) - Standards and Coordination(34:11) - Fast Finality for Ethereum(38:12) - Rainbow Staking(40:22) - Fast confirmations and native assets(45:13) - Intents are perfect for that(52:50) - High bootstrapping cost for solvers(55:10) - Podcasting skills(1:01:00) - Credible Neutrality(1:08:38) - Contributing to Ethereum(1:10:58) - Ethereum dictator for a day
DisclaimerNothing in this episode should be interpreted as financial, technical, or legal advice. The host does contract work for Heliax, a public goods laboratory, focusing on Anoma.
Deeply Intents is a podcast hosted by Apriori. There are two primary motivations; unpack Anoma with relevant guests, and have interesting conversations with values aligned builders. The podcast is long-form content, with an emphasis on the human element.
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