Unchained Uneasy Money: Did Solana Dapp Kamino Break the Golden Rule of DeFi? - Ep. 970
Dec 4, 2025
The hosts dive into Ethereum's Fusaka upgrade and its impact on transaction dynamics. The controversy surrounding Infinex's token sale reveals community backlash and innovative ICO mechanics. They analyze Hyperliquid's perpetual contracts for tokenized equities and the looming regulatory risks. Tensions in Solana’s DeFi with Kamino and Jupiter spark debates on user choice and market fairness. Finally, discussions on AI's role in security and the implications of recent exploits shine a light on the ever-evolving landscape of crypto.
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Faster Ethereum Upgrades Unlock Abundant Block Space
- Ethereum's upgrade cadence has sped up, delivering frequent, impactful changes like Fusaka with passkeys and blob-space increases.
- Mainnet gas is now extremely cheap due to L2 growth and blob scaling, creating abundant block space for new use cases.
Cheap Gas Changes Developer Incentives
- L2 proliferation and better wallet tooling have driven gas down to near-sense levels, changing what builders prioritize.
- Cheap computation may invite high-throughput apps that could again spike fees if demand surges.
How Infinex Structured Its Controversial Token Sale
- Kain described Infinex's token sale design: a $300M FDV with a one-year lock and an early-exit price curve from $1B to $300M.
- He explained they chose pricing to avoid repeating prior NFT-sale terms and to give users an option to leave by paying more.