teddit

.@AskVenice team has sold over $10.2M in $VVV tokens...

I've tracked all the $VVV team wallets and identified their clusters.

They received tokens 4 days prior to the launch, and insta dumped right after the launch.

And Coinbase launched it day on 1?

Wallets + Proof 🧵 https://t.co/breAefIGXX

Amir Ormu

anybody else see this? thoughts? 

https://x.com/amirormu/status/1885819487850577976?s=46&t=rxAVkMPnT_8alZYrwLqp6g

/ted | exploring the onchain frontier | surfing @ venice, ca | eating @ gjusta / gjelina

My take is a bit more nuanced. Vorhees stating that the team had 12% of the tokens, and 25% was unlocked immediately after a year of work (therefore 3% of total supply) stems from tradfi norms of vesting cliffs. What he's missing is that this isn't even being done like tradfi: this wasn't broadly disclosed in advance in any way whereas in tradfi these types of events are published well in advance (like IPOs, identified individuals with large holdings, for example). On top of this, the product is a lie. It's not private AI, there are no real means of preserving privacy any different than OpenAI or others.

BDFL of Quilibrium, Eng @ Farcaster, ex-Coinbase, always opinionated, never hydrated

/quilibrium

Software Engineer @ Cadence Design Systems. B4: Stanford EE / Illinois ECE

If they decide to adopt it and argue TEE is making it private (which would have to be extended to the interaction surface the user is working with rather than just the GPUs), it's still pretty broken. There has yet to be a single TEE implementation that hasn't been penetrated at least once already.

fair criticism, at least I expect them to at least try deploying some of NVidia's GPU TEE solutions in the future, but to be fair to them, there aren't a lot of GPU TEEs out in the wild for cloud consumption that aren't also exorbitantly expensive.