Uneasy Money: Did Solana Dapp Kamino Break the Golden Rule of DeFi? - Ep. 970

Unchained

Laura Shin

News, Tech News, Business News

4.6 • 1.3K Ratings

🗓️ 4 December 2025

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

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Summary

Thank you to our Sponsor, Uniswap! Ethereum Fusaka is live, Infinex has embarked on its token sale, Hyperliquid is bolstering its HIP-3 markets and there is drama in Solana’s DeFi land. In this episode of Uneasy Money, hosts Kain Warwick, Luca Netz and Taylor Monahan delve into the significance and implications of the Fusaka upgrade and the controversy surrounding Infinex's token sale. They also take a look at the promise and risks of Hyperliquid's buzzing perp futures markets on tokenized equities and Kamino's controversial response to competition from Jupiter. In addition, they touch on Anthropic's smart contract study and the recent Yearn Finance exploit. Hosts: Luca Netz, CEO of Pudgy Penguins Kain Warwick, Founder of Infinex and Synthetix Taylor Monahan, Security at MetaMask Links: Unchained: Cheaper Fees and No More Free Lunch for Layer 2s? Inside Ethereum’s Fusaka Upgrade Ethereum’s Layer 1 Lacks a Perp DEX. Synthetix Intends to Change That HIP-3 Records $500 Million in Daily Volume Uneasy Money: Hyperliquid’s Dilemma After 10/10: Protect Itself or Its Users? Uneasy Money: ICOs Are Back and Why Airdrops Are Instantly Dumped Timestamps: 🚀 00:00 Introduction ⚡️ 01:32 How Ethereum's shipping cadence has changed ⛽️ 9:36 Will Ethereum gas fees spike again? ⚔️ 12:26 Infinex's token sale controversy 💡 12:54 Kain explains the reasoning behind Infinex's ICO model 💥 18:47 What's driving the Infinex ICO controversy 🧏 24:11 How Hyperliquid's HIP-3 upgrade is changing DeFi participation 🤔 25:58 Are Hyperliquid's tokenized equities perps asking for SEC trouble? 🤺 38:48 Kamino v. Jupiter drama 🧐 44:59 Does Solana’s commercial tilt encourage more “gloves off” competition? 👀 50:51 Will Kamino users exit en masse? ❕️51:32 Anthropic's smart contract study coincides with Yearn Finance hack 💡 54:40 How AI can help bolster crypto security Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	I think so, like, there's no question of my mind. If transactions stayed this cheap, there's so much money on Ethereum, someone will turn up and go, I'm going to build this thing and it's going to, you know, have hundreds of thousands of transactions and get a cause some chaos.
0:14.3	I mean, ultimately, it just feels super shady. It just feels completely anti-web theory and everything that we stand for.
0:22.2	Like, users having the right to exit and, like, actually having the right is a huge part of
0:28.8	what permissionlessness is.
0:31.6	Imagine if you just turn up to the NASDAQ and, like, stake some NASDAQ equity and get to
0:36.2	your own thing, right? Like, good stuff will happen and get to your own thing, right?
0:37.8	Like, good stuff will happen and bad stuff will happen there, right?
0:40.8	And huge unlock.
0:42.8	Just be a high integrity entrepreneur.
0:44.7	And instead of just trying to like, both an entrepreneurship perspective, like super lame.
0:49.7	Like that's like if Chad GBT like didn't let you use like Facebook.
0:56.5	Hey, everyone. I'm Kane and welcome to the fourth episode of uneasy money because what happens on chain never stays on chain.
1:02.0	I'm here with Luca, CEO of Pudgy Penguins and Tay from Meta Mosque.
1:07.0	Before we begin, here's a word from our sponsors that make the show possible. Are you a builder who needs to add on-chain trading to your product?
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1:24.6	More liquidity, less complexity. Visit hub.uniswap.org to learn more.
1:31.3	One quick thing before we start, nothing new here on uneasy money is financial advice.
1:35.6	We're just three builders talking about what's happening on chain. And we want you to always do
1:38.8	your own research before aping in. All right, let's get into it today. We got a big day for Ethereum today. Fusaka goes
1:47.8	live today. It feels to me, before we go into all of the things, because there's a bunch of things that
1:54.7	are going live with this upgrade. But it feels to me like the shipping cadence of Ethereum has gotten so much
	...

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