I've aged about 3 years in 3 weeks
what's top of mind right now re:umbra:
- $154,943,746 is a lot of money
- $154,943,746 is a lot of money
- discretionary cap didn't achieve one of its desired effects - people still put in more than they actually had in demand - so it basically functioned as capped pro rata
- maybe it makes sense to just do capped pro rata, but I still don't love it - I know this is what a lot of platforms use, it just feels so game-y to me. "2% of your allocation has been filled" is not a great product UX for the people who aren't playing the game
- why is there still not a good sybil-resistant mechanism I can use as an onchain builder? it's a structural advantage that a KYCed platform like Echo gets
- there were some issues on jupiter picking up the futarchy amm pool instantly. we tested beforehand, but shows you can never test enough!
- security just became a lot more important to me (see: $154m is a lot of money). we follow the standard stuff like professional code audits, but I think it's time to step it up a notch (everything double audited, better PKI, better opsec, etc.)
- idk if we currently have the right amount of liquidity. omnipair felt like too little liquidity when it launched, this ironically felt like too much liquidity - it'd be okay if there was more volatility
- claiming experience wasn't excellent. I think we should commit to either "you come back to claim" or "we airdrop to you" and we optimize the heck out of whichever one we commit to
- my tendency is to focus on everything that went wrong so I can improve it, but overall I'm happy. Umbra just raised $3M by launching an ownership coin. and now 9,400 holders have a stake in its success. LFG!
