sir cobie, your highness
- as per satoshi, the technology is money. what you are claiming is that we should go easy bc the technologists built something great < – yes they did the biggest staking service, yay. they also have no idea how to manage money. you are equivocating startups to hedge funds which i find comical b/c the lido leadership actually decided to try to be a hedgefund by keeping it in eth, knowing that its the most volatile asset there can be. instead of converting at least some of the 70 mm usd equivalent eth into stable asset, they chose to gamble. so it would seem that they actually tried playing it as an on chain hedge fund. this amounts to gross negligence.
why did i not advise them to sell? well like the idiot that i am, i had assumed given the amount of hype and praise u gave to lomashuk, vasily and yourself regarding lido that it was self evident that you are building mission critical infrastructure to ethereum and u should secure a runway. but thats where i was wrong.
notably, stake hound at the peak lost the keys to appx $80 mm usd in ether. here we have vasily our fearless leader pissing on them for it. https://twitter.com/_vshapovalov/status/1545249802706878464?s=20&t=eZ_2GQr6fGrcuZRXcrGMSw
Note that Vasily as CEO has helped destroymore than half this amount of value by gambling with ether (4,000 usd ether to 1500 usd ether at 70 mm usd raise in ether) - after vitalik publicly announced he is selling on coinbase. and now were gonna sell 2 mm LDO to more scumbags, so were close to $80 mm, nice job bro.
why did you not advise them? i love how you try to distance yourself from the project all the time. you are a founder of Lido and were once the CEO. I bet that you hold approximately 20 million LDO tokens. this is your baby. but fine you did not. Lido leadership chose to gamble at the top over securing a runway, after vitalik publicly sold ! Yes go thru governance, would had months to have it cleared. Alameda is another group of known scumbags, effective altruism baby! lets create perpetual contracts on real shit coins like Oxygen that are down only. Yo cobie, terrible analogy. another group of sociopaths happily welcomed into the dao.
3ac, defiance, jump, [insert scumbags here] - no one could have seen it, but they are dumping. wormhole deployer 4 has been dumping this whole time (which is jump). LDO was and currently kinda is very illiquid. these scumbags have been dumping (see this post for dumping details The $LDO whale unlock - OTC - time to get organized ).
Lido is a startup and these pieces of shit cant stop harming it. Long term alignment is at least 4 years lock up, lol but u legendary founders had maybe 1-2 years lock up lol … so what am i saying. crypto is not a real place, but wow what the fuck was the point of raising 70 mm usd in eth, giving so much ldo to these scumbags, these scumbags dumping it and then destroying more than half of the 70 mm usd. like u got in bed with we’ll call it scumbags that were not known to be scumbags at the time with a sweet heart deal and then did not prepare for worst case scenario and got rekt lol.
this is where its clear that the Lido leadership is economically not competent as either amateurs (could not prepare for worst case) or degenerate gamblers (kept it all in eth).
- 75 employees - lol
roles that should be collapsed into lesser roles for efficiency, god this project has hte most misaligned incentives ive ever seen. unicorn created from day 1 with basically no lock up with the advent of the scam pump market maker - lol im laughing really hard as i write this, crypto greatest place
Legal & Operations
Emergency Relief lol! its own position i love you jesus christ
Opex Eth Bug Bounties
Opex Marketing Expenditure
I’d like to point out that im a lawyer with a background in global finance crpyot OG from 2013, have created a multi million USD supplement business and published the most viewed scientific white paper in human history. I am not bragging, im just a regular idiot person, but i care and i care deeply to make startups work and am willing to scarifice to do it. I’ attended Stanford Medical School without being enrolled and slept in my friends car, dont spend any money except bare necessities over a 8 year period (crypto from 2013 to 2021) cuz thats what it fucking takes to make it. These positions are designed as if Lido is a Fortunte 500 company, not a lean start up.
- Liquidity Flows - here’s the great secret of crypto = almost ALL of the pumps are scams done by market makers. Market caps are psyops and dont really matter. What matters is how illiquid a token is and who is the market maker behind it. You think Solana organically pumped to $250 usd from $3 ? lololololol. same with scam Luna, Avax and all the rest. so out of the blue, LDO needs to sell a bunch of tokens and it pumps from .5 USD to 1.85 in 10 days. lol
literally fuck u guys
who was the market maker and when will they be dumping
see u on the moon cobie
p.s. be nicer to ledger, up only is the greatest podcast ever. i think su zhu is a legend and im not joking. learned so much from the guy. u learn the most generally speaking from criminals and sociopaths, they are generally the big winners of the MSM life …