Welcome back to The Gwart Show! Today we are joined by Shehzan, a Bitcoin builder focusing on borrowing and lending protocols on top of Bitcoin. While most people think of Bitcoin as a dumb rock, the Lava team led by Shehzan is working on a novel solution to natively lend and borrow (while maintaining self-custody but we’ll let him explain that) on Bitcoin. Lava uses Discreet Log Contracts (DCLs) to thread the needle of both permissionless capital via DeFi markets and Bitcoin self-sovereignty via self-custody.Timestamps:00:00 Start00:56 Who is Shehzan?01:29 Why no BTC lending yet?02:29 What are DLCs?04:19 Lava vs other lending protocols05:30 P2P loans complications06:59 Deposit & loan process09:20 Privacy implications11:32 Wrapped BTC12:44 User risk profile14:57 Fixed rate loans17:53 Who are the lenders?18:19 Oracles19:42 Choosing oracles20:49 Rates22:11 Loan durations23:13 Target user25:33 Other chains?27:21 Solana outages28:41 Other DLC uses30:13 Building in Bitcoin experience32:19 Lightning33:06 Lack of BTC spending35:07 Bitcoin's monetary properties37:48 Wrapped BTC and custodians41:45 Bitcoin scaling43:45 OP Codes46:42 Not enough core devs47:58 Stablecoins51:50 Tokenized assets53:08 Solana vibesFollow our host: @gwartygwartFollow our guest on Twitter: @marediashehzan👋The Gwart Show is proudly presented by Ellipsis Labs! Ellipsis Labs is building foundational products in DeFi. Their first product @PhoenixTrade is the leading orderbook DEX on Solana. The team is growing—visit ellipsislabs.xyz for engineering opportunities.Enjoy the show? Check out our website and newsletter by clicking here.Questions or want to sponsor? hello@blockspace.media

Welcome back to The Gwart Show! Uri Klarman, known for his BloxRoute private mempool company, joins Gwart to discuss the future of MEV on Ethereum and Solana. Uri goes through ther Ethereum block builder journey, why public mempool’s are a problem in today’s on-chain economy, and his many (and we mean many) attempts to address MEV or miner malfeasance through token schemes. Timestamps:00:00 Start00:44 Uri's background01:28 Blocksroute05:52 ETH block building11:44 DeFi vs CeFi15:55 Can Defi compete w/ Centralization?19:53 Block builders stealing fees21:39 Bye bye mempool23:52 Solutions for MEV29:10 Bitcoin miners chase profit, always!32:25 Incentives promote MEV on ETH33:38 Multiple concurrent proposers45:46 Palidin1:01:26 Why PAL token?1:11:33 SOL delegated stake1:12:05 Why not RPC?1:13:18 PAL token liquidity1:16:04 Slashing by consensus1:19:59 ETH gas limit token1:24:39 SOL staking future?1:29:53 Mining OREFollow our host: @gwartygwartFollow our guest on Twitter: @uriklarman👋The Gwart Show is proudly presented by Ellipsis Labs! Ellipsis Labs is building foundational products in DeFi. Their first product @PhoenixTrade is the leading orderbook DEX on Solana. The team is growing—visit ellipsislabs.xyz for engineering opportunities.Enjoy the show? Check out our website and newsletter by clicking here.Questions or want to sponsor? hello@blockspace.media

Welcome back to The Gwart Show! We are joined by the 4th most important Taproot Wizard, Udi Wertheimer, to discuss, well, male pattern baldness. We also dive into the wizards roadmap (not just JPEGS) like CATVM, the use-cases for L2s, how blockspace doesn’t solve blockspace issues and why ETH Maxis just keep losing.If you are enjoying the show, please subscribe to our email list for notifications when the podcast comes out, transcripts and more.Timestamps:00:00 Start00:54 Taproot Wizards update01:39 Technical roadblocks03:34 What new tech should Bitcoin have?05:36 Are DeGens our saviors?10:05 Lack of product market fit for crypto tech11:55 SOL Degen = BTC Maxi?14:59 Is DeFi interesting at all?18:11 CATVM20:46 Vision for CATVM23:39 Where are the L2 use cases?27:12 ETH roll up roadmap31:02 Can't scale blockspace w/ more blockspace33:33 CATVM does NOT solve scaling36:36 On chain lending?40:30 BITVM43:15 VCs backing BITVM46:03 Are tokens NOT terrible?51:41 ETH maxis suck at predicting the future1:00:17 Where are we at in 5 years?Follow our host: @gwartygwartFollow our guest on Twitter: @udiWertheimer👋The Gwart Show is proudly presented by Ellipsis Labs! Ellipsis Labs is building foundational products in DeFi. Their first product @PhoenixTrade is the leading orderbook DEX on Solana. The team is growing—visit ellipsislabs.xyz for engineering opportunities.Enjoy the show? Check out our website and newsletter by clicking here.Questions or want to sponsor? hello@blockspace.media

Mert, the CEO of Helius and a co-host of a BlockWorks podcast, dives deep into Solana's ecosystem. He discusses innovative concepts like state compression and the Fire Dancer project. Mert also addresses miner extractable value (MEV) and its implications for blockchain economies. The conversation touches on the competitive landscape between Ethereum and Solana, exploring if Solana could become the NASDAQ of on-chain platforms. Finally, he examines the balance of centralization in stake-weighted Quality-of-Service systems, raising critical questions about the future of blockchain architecture.

Welcome back to The Gwart Show! We’re re-joined by Max Resnick (@MaxResnick1) of the Special Mechanisms Group (@specialmech) to discuss Ethereum's potential shift towards faster block times and multi-proposer systems. He explores the implications for L2s, MEV, and market structure. The conversation covers Ethereum's comp21etitiveness with Solana, the future of DeFi, and the challenges of centralization in crypto.Timestamps:00:00 Start01:06 Matt's background02:47 ETH vibes right now04:39 Consensus around new EIPs09:47 Node burdens13:22 What about the L2 roadmap16:47 Did ETH just rug L2s?18:11 The future of roll ups21:25 Is Base extracting value from users?24:25 What is the multi-proposer?25:39 Community response27:12 Outcompeted by Solana29:50 Who doesn't agree?30:43 Changes for block builders32:21 What does ETH Foundation think?33:01 Benefits of 2 sec block times?35:15 Trading back to L1?37:11 L1 value = MEV available40:42 Yield APR & loan APR converge?41:45 Is the end game 100% staked ETH?44:56 Moral judgements leading development45:47 Restaking48:14 Why does ETH win against Solana?52:06 Infrastructure vs apps54:01 What apps are unlocks54:44 Stablecoin chokepoints1:01:12 MEV on Solana1:06:50 Future of AMMs1:07:12 Trusted execution environments1:09:56 SUAVE1:11:57 Service provider adoption of EIPsFollow our host: @gwartygwartFollow our guest on Twitter: @MaxResnick1👋The Gwart Show is proudly presented by Ellipsis Labs! Ellipsis Labs is building foundational products in DeFi. Their first product @PhoenixTrade is the leading orderbook DEX on Solana. The team is growing—visit ellipsislabs.xyz for engineering opportunities.Enjoy the show? Check out our website and newsletter by clicking here.Questions or want to sponsor? hello@blockspace.media

Welcome back to The Gwart Show! Today we’re joined by Bitcoin bull and on-chain analyst Checkmate to discuss Bitcoin's market dynamics, mining economics, and market outlook given the bear victory laps on the timeline. He shares thoughts on on-chain analysis, altcoin markets, ETFs, and the role of Bitcoin in the global financial system, offering a bullish perspective on its long-term potential.Timestamps:00:00 Start00:53 Checkmate intro04:07 Checkmate charting product07:29 Who's the customer?10:37 Current market outlook14:49 Why's everyone bearish?19:03 Different this time?23:46 Institutional interest28:14 Bitcoin development34:39 Bitcoin's future39:40 Actually useful indicators45:27 On-chain metrics49:12 nation-state adoption54:52 Miners holding BTC1:04:28 BTC ETFs1:08:55 ETH ETFFollow our guest on Twitter: @Rob1HamFollow our host: @gwartygwart👋The Gwart Show is proudly presented by Ellipsis Labs! Ellipsis Labs is building foundational products in DeFi. Their first product @PhoenixTrade is the leading orderbook DEX on Solana. The team is growing—visit ellipsislabs.xyz for engineering opportunities.Enjoy the show? Check out our website and newsletter by clicking here.Questions or want to sponsor? hello@blockspace.media

Rob Hamilton, CEO of AnchorWatch and mini-script fan boy, joins The Gwart Show to break down the nuances behind Bitcoin script, why we should’t be scared of a soft fork for rollups (if we need one!) and what a world with more Bitcoin functionality looks like. Rob and Gwart embark on discussions of L2 tokens, Bitcoin consensus rules and the value of VCs in Bitcoin. Timestamps:00:00 Start00:32 Rob's background03:13 2013-202205:37 What is AnchorWatch?13:02 Miniscript19:53 Target user of AnchorWatch21:33 Current Bitcoin development35:45 Covenant use cases38:34 Stablecoins42:16 USD to BTC rails44:41 Do rollups scale?50:38 Challenges of trustless rollups1:00:04 VC funding coming to Bitcoin1:03:30 Ponzi coming to Bitcoin1:13:29 End of altcoin ponzi games?1:16:40 Do stablecoins need decentralized chains?1:20:41 Bitcoin & IRL resources1:23:06 Blockchain commodity value1:25:23 Token unlocks1:30:34 Government permission required1:36:27 AnchorWatch as a memecoin1:39:43 Funding for ideas1:45:49 Antpool centralization via proxies1:52:13 Lacking developer funding1:57:20 P2P node encryptionFollow our guest on Twitter: @Rob1HamFollow our host: @gwartygwart👋The Gwart Show is proudly presented by Ellipsis Labs! Ellipsis Labs is building foundational products in DeFi. Their first product @PhoenixTrade is the leading orderbook DEX on Solana. The team is growing—visit ellipsislabs.xyz for engineering opportunities.Enjoy the show? Check out our website and newsletter by clicking here.Questions or want to sponsor? hello@blockspace.media

Evgeny Gaevoy, CEO of Wintermute, discusses market making in crypto, DeFi evolution, blockchain technology's relationship with capitalism, Solana's approach, GameFi potential, and the future of crypto in light of AI advancements. He shares insights on token design, DAO governance, and contrarian views on crypto's long-term prospects.Timestamps:00:00 Start00:52 Evgeny background02:25 Crypto vs tradfi04:04 Caring about more than market making05:23 Wintermute business line07:10 Why use a market maker?10:11 Good vs bad market making?12:07 On-chain price discovery13:48 Is NOT having on-chain price discovery a failure?15:27 ICO benefits18:02 Good token design20:22 Should token holders have rights?24:09 Equity + tokens WTF?26:04 DOA governance27:35 Has governance gotten worse?30:41 Big unlocks in DeFi?34:45 Rebuilding TradFi on -chain (yawn)39:23 Will crypto market makers get out competed?42:56 ETH roadmap blues44:12 Capitalist systems or bust47:11 Solana49:38 Bro, do u even Bitcoin?50:27 What does DeFi solve?51:29 What does DeFi NOT solve?52:31 GameFi thesis53:23 Why does GameFi still suck?55:40 Star Trek = DeFi failFollow our guest on Twitter: @EvgenyGaevoyFollow our host: @gwartygwart👋The Gwart Show is proudly presented by Ellipsis Labs! Ellipsis Labs is building foundational products in DeFi. Their first product @PhoenixTrade is the leading orderbook DEX on Solana. The team is growing—visit ellipsislabs.xyz for engineering opportunities.Enjoy the show? Check out our website and newsletter by clicking here.Questions or want to sponsor? hello@blockspace.media

Stefan Gosselin-co-founder at Flashbots and founder at OneBalance–joins The Gwart Show. We go through block builder centralization, Stephane's vision for Ethereum, properties of censorship resistance, censorship resistance, shared sequencers, and the future of Bitcoin L2s.Timestamps:00:00 Start00:32 Stephane’s background01:38 Beginning in Web304:59 Current projects06:15 Starting Frontier07:46 Infinite Games12:11 Centralization16:02 PBS design22:08 Global vs local consensus29:17 Censorship getting better?34:34 Are block builders price setters?37:09 One Balance41:31 Wallet based roll-up? WTF!44:55 Protocol design49:24 Shared sequencers52:48 Solvers55:45 Private order flow59:19 Solana grants & control1:01:30 Benefits of One Balance1:07:42 Bitcoin L21:12:29 10 yr crypto vision1:13:35 Wrap upFollow our guest on Twitter: @thegostepFollow our host: @gwartygwart👋The Gwart Show is proudly presented by Ellipsis Labs! Ellipsis Labs is building foundational products in DeFi. Their first product @PhoenixTrade is the leading orderbook DEX on Solana. The team is growing—visit ellipsislabs.xyz for engineering opportunities.Enjoy the show? Check out our website and newsletter by clicking here.Questions or want to sponsor? hello@blockspace.media

Benedict Brady from Ergonia and Doug Colkitt from Ambient Finance join The Gwart Show, covering various aspects of decentralized finance (DeFi), high frequency trading (HFT), and automated market makers (AMMs). Follow our guests on Twitter: @0xdoug @bqbradyFollow Gwart and the podcast: @gwartygwart @blockspacepodTimestamps:00:00:30 Guest Introductions00:02:13 HFT, AMMs and CLOBs00:9:10 Improving the Ethereum L1 for apps 00:18:10 zkEVMs, validator and rollups 00:22:021 Trading on AMMs00:24:55 Why AMMs on Solana?00:35:03 MEV 00:40:00 Is ~any~ MEV illegal?00:47:16 Everything will run on AMMs? 00:52:55 Block builder centralization01:00:40 What if tradfi built blocks?01:02:08 Solana orderflow is a goldmine01:05:30 Stakeweight QS01:10:35 Memecoins