Uneasy Money: Is Jupiter Incompetent or Evil? And Is Hyperliquid's ADL Flawed? - Ep. 976

In this episode of Uneasy Money, Kain Warwick hosts Luca Netz and Taylor Monahan to discuss current events in crypto. The group analyzes the Solana DeFi ecosystem, focusing on the tensions between Jupiter and Kamino, and debates whether Jupiter's actions were due to incompetence or misrepresentation. They also explore Hyperliquid's auto-deleveraging mechanism, discussing a paper criticizing its algorithm and the broader trade-offs between protecting the trading venue and its users. The hosts then shift to Farcaster's pivot from Web3 social to a wallet, questioning the viability of decentralized social networks and the value of decentralization itself. Finally, they examine the debate around 0% fee models, with a discussion on whether they truly benefit users or simply mask hidden costs, and touch on the broader implications of tokenization for founders and projects.