CEX and the Market Maker Cartel Are Killing Crypto. It's Time to Break Them.

Crypto is drifting backwards and no one needs to admit it.

We tweet "decentralization" like a prayer. We put laser eyes on our avatars. We quote Satoshi. We fake we're building a revolution.

In the meantime?

Three corporations control whether your undertaking lives or dies. Three corporations determine in the event you get liquidity. Three corporations cost hundreds of thousands to run bots at the hours of darkness, dump your tokens each time they really feel prefer it, and call it "market making."

DWF. Wintermute. GSR.

Say the names. Know them. Because they personal you. They personal all of us. And we handed them the keys willingly as a result of we forgot what we have been purported to be constructing.

We've watched this recreation for years.

Years of charts that bleed the identical method. Years of "partnerships" introduced with fanfare, adopted by sluggish dying. Years of communities asking "why did we dump?" whereas the reply was right there - invisible, hidden, protected by NDAs and offshore entities and the snug lie that this is just how markets work.

It's not how markets work.

It's how extraction works.

They take your tokens at a discount. They run volume - pretend, actual, does it matter when you'll be able to't see the difference? They pump sufficient to usher in retail. Then they sell. Slowly. Invisibly. Whereas operating buy-side bots so the chart appears healthy.

You maintain.

They exit.

You name it a bear market. They call it Tuesday.

And DEX?

DEX was presupposed to be the reply. Permissionless. On-chain. Clear. No gatekeepers.

However DEX has no infrastructure.

One whale sells ten thousand dollars and your chart collapses thirty %. Group panics. Telegram goes quiet. Twitter turns to FUD. Six months of constructing, lifeless in a day.

Not because the undertaking was dangerous.

As a result of no one defended it. Because there was no liquidity depth. As a result of DEX doesn't have billion-dollar machines operating within the background like each CEX token you've ever traded.

The sport is rigged on the infrastructure degree.

And we hold enjoying anyway.

We're drained.

Uninterested in watching good tasks die from one whale exit.

Uninterested in watching shit tasks survive as a result of they paid the best individuals.

Uninterested in pretending quantity is organic when half of it is bots trading with bots.

Uninterested in the lie that decentralization means anything when three corporations control liquidity across the whole market.

Uninterested in being exit liquidity for algorithms that see every thing whereas we see nothing.

So right here's where we're at.

Market making isn't evil. It's mandatory. Someone has to offer liquidity. Somebody has to absorb the influence when whales transfer. Someone has to make markets perform.

The evil is the secrecy.

When you'll be able to't see the bots - that's manipulation.

When you'll be able to't see the capital - that's manipulation.

When you possibly can't see internet circulate, can't see if they're shopping for or dumping, can't confirm a single trade - that's manipulation.

But once you CAN see every part?

That's just infrastructure.

That's just math.

That's only a service that retains tasks alive as an alternative of a black box that extracts from them.

No one's building this. Everybody's too scared to confess market making exists. Everyone's too scared to interrupt the taboo. Everybody would quite fake their volume is natural than admit they want bots identical to everybody else.

So we stay silent. We let the cartels function in darkness. We pay our tens of millions and pray they don't dump too onerous. We call it "partnership" as a result of "safety money" sounds too trustworthy.

What wouldn't it even seem like if somebody broke the silence?

What if a undertaking simply... stated it?

We're operating market makers. Right here's how many bots. Here's how much capital. Here's internet stream in real-time. Right here's each commerce, logged, verifiable, on-chain.

We're doing what DWF does. Besides you possibly can see all of it. Except we will't dump in secret. Besides we don't cost five million dollars for the privilege.

Would that be manipulation? Or would that be probably the most trustworthy factor anybody's ever completed in this area?

Don't we would like someone to attempt it?

Aren't we waiting for someone to have the balls to interrupt the taboo, expose the sport, and prove that transparency beats secrecy?

Perhaps we'll hold waiting eternally.

Or perhaps somebody's already building it and we just don't know yet.

Decentralization was presupposed to mean we don't need permission.

We don't need gatekeepers.

We don't have to pay tribute to cartels who determine whether we reside or die.

It's time to remember.

It's time to cease tweeting the word and begin constructing the factor.

It's time to take market making - the last centralized chokepoint - and crack it open.

We didn't come right here to play by their guidelines. We got here here to construct new ones.