Matt | Arch @proofofmud

CEO @archntwrk ⋒ BTC class of 2013 ⋒ 🟠 🏦 Obsessed with building out the Bitcoin-native financial layer arch.network Joined June 2021

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Matt | Arch @proofofmud

2 days ago

@Trim_Bot @TrustlessState @AskVenice @Lighter_xyz we have the first live production ready implementation of ZCash foundations TSS FROST for native BTC execution and settlement. Could be sumthin 😉 @TrustlessState

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Matt | Arch @proofofmud

6 days ago

@brian_armstrong Bitcoin = sound money. ✅

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Matt | Arch @proofofmud

2 weeks ago

I don’t think that was his point though. SFDP didn’t buy pmf either. It was a bootstrapping subsidy and it served its purpose. Now capital formation, liquidity and flow are arguably more important to perps UX than further decentralization. Obv hinges on what sf is optimizing for though

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Matt | Arch @proofofmud

3 weeks ago

"The problem was not a lack of cash. It was an inability to redistribute cash quickly enough through existing infrastructure. The plumbing could not move liquidity where it was needed at the speed the market required" Trustlessness without capital efficiency is a dead product. Bitcoin-backed lending lives or dies on how fast collateral can move when prices and risk cascade. If zk verification adds latency to settlement, LTVs have to be more conservative to absorb the gap meaning less borrowing power per unit of BTC, which means worse pricing, which means real users go elsewhere. The 2019 repo parallel shows this: cash existed, trust existed, but the plumbing couldn’t move value at market speed and rates blew out 10x in a day. Trust-minimization is worthless if the rails can’t clear efficiently enough.

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Matt | Arch @proofofmud

3 weeks ago

@dotcuriouscat its time...

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Matt | Arch @proofofmud

3 weeks ago

@laurashin I completely agree. However , to be fair , tokens engineered to stay pegged at a dollar are technically “stable”coins no? If anything , dollar backed stablecoins need a new name. Digital dollars?

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Laura Shin @laurashin

3 weeks ago

"Onchain credit in 2026 is institutional, underwritten, and composable. That was unthinkable in 2022" Matteo on the state of onchain credit in 2026 and why the market is in a totally different phase than people think "The borrower side has matured. Institutional counterparties like FalconX are accessing credit onchain with clear terms, defined collateral arrangements and legal structures that hold up to institutional scrutiny. That is a real change from the first generation of crypto-native borrowers with thin credit history" "The underwriting layer has been professionalized. Multiple professional underwriters now bring traditional credit discipline to onchain products. That alone is significant for the ecosystem" "Composability is starting to demonstrate real value. Using an onchain credit facility or RWA as collateral in another overcollateralized protocol is the meaningful proof of concept for what the next phase looks like"

Laura Shin @laurashin

3 weeks ago

Repo Is $16T. Onchain Credit Is $5B. What's Missing? x.com/i/broadcasts/1…

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Matt | Arch @proofofmud

3 weeks ago

@KyleSamani @guywuolletjr x.com/laurashin/stat… Thoughts?

Laura Shin @laurashin

3 weeks ago

"Repo rates went from 2% to 20% in a single day. There was plenty of cash. The system just couldn't move it" Matteo on why the 2019 repo crisis was a plumbing failure and why onchain credit is staring at the exact same problem today "A large corporate tax payment drained

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Matt | Arch @proofofmud

3 weeks ago

@david_seroy @jaypatel x.com/laurashin/stat…

Laura Shin @laurashin

3 weeks ago

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Matt | Arch @proofofmud

3 weeks ago

4 weeks ago

If people cared so much about trustlessness why is Solana (majority consensus) and base (centralized sequencer) beating chains with zk trustless features? Regardless of trustless or consensus driven, there are objectively scalability concerns with zk as seen with attempts with it on Ethereum, and that concern only gets amplified with slower blocks and more constrained data storage limits. IMO The optimal lending design will likely feature capital efficiency to limit risk versus optimizing for trustlessness. Talk to any bank or institutional lender and they will tell you effective risk management is a way higher concern over trustlessness. Hard to underwrite trustless designs. No underwriting = capped exposure