Institution

He turns from him many who are as zealous as he to change conditions, but who demand that they be painted as they are, and that justice be rendered both to those who have fought against them in the past and to those who are in different ways doing so to-day.

the movement for a fuller life for american women has always suffered from the disregard of some of its noblest followers both for things as they are and for things as they have been the persistent belittling for campaign purposes of the business of being a woman i have repeatedly referred to in this little series of essays indeed it has been founded on the proposition that the uneasy woman of to-day is to a large degree the result of the belittlement of her natural task and that her chief need is to dignify make scientific professionalize that task i doubt if there is to-day a more disintegrating influence at work one more fatal to sound social development than that which belittles the home and the position of the woman in it as a social institution nothing so far devised by man approaches the home in its opportunity nor equals it in its successes The woman's position at its head is hard.

The result of her pains and struggles are rarely what she hopes, either for herself or for anyone connected with her.

But this is true of all human achievement.

I actually think that the options.

market is a great example of that like the amount of like toil and like torment that like the drive team for example went through like any options team went through thinking like oh this year is going to be our year like you know this year was going to be their year for like five years now they probably thought too and so a lot of these things just take a lot longer to build and to mature than people realize um but i really do think like very strongly that we are kind of hitting that that tipping point on a lot of institutional adoption on a lot of these different types of products like really hitting the point where they are actually like net useful to the world and actual improvements um so i think people just kind of need to raise their expectations like quite significantly like everybody's i think everybody's so quick to sell like a 10 pump um but i think for a lot of these like really fundamentally mispriced tokens i think the really big mistake is the people who sell too early um and i'm sure i'll round trip a bunch of a bunch of that's just kind of how it is and how i've always been um but i think i think a lot of these things that i'm betting on like these are these are fundamental re-ratings that are not you know small little price jumps like these are these are massive massive massive cam expansion types of things and so they're the kind of the bets that are pretty easy to underwrite so i would just say for most people who like follow along in these types of bets it's like just like yeah like raise your expectations like learn to believe a little bit again and like zoom out essentially

Nothing said on the Edge podcast is a recommendation to buy or sell tokens or securities.

This content is for educational and entertainment purposes only.

yeah and kind of as almost like a direct segue from meme coins too is that it has that similar like options have that similar level of like quite literally like optionality in terms of like the payoff structure of how um convex it ends up being so i think for a lot of the same thing that attracts people to meme coins being like oh i want to put in 10 bucks and make 10 million um that's kind of a similar that's kind of like what options were initially there for um anyway and so i i think that that same trend that people want to be able to have these extremely convex payoff structures like that that was actually like a big thing going into like oh well people like this they're It's significantly better for people to just put money into some super deep out-of-the-money calls on Derive instead.

So the way that the whole Derive trade came about, it came from two different lenses, essentially.

One, as an actual fund, it was incredibly unpleasant to access options at an institutional level.

It was annoying to get onboarded onto Deribit.

We're gonna talk a bit about why are wallets so important to privacy.

Um, we wanna talk about the importance of privacy for further institutional adoption.

On that note, why don't we talk first a bit about your background.

Um, I would love to learn more about why you choose to work on Ethereum.

Um, uh, yeah.

Thomas, finance is clearly Ethereum's biggest product market fit, DeFi.

Um, what does privacy unlock for the next wave of institutional adoption based on your research? What are some of the conversations you're having, you know, behind the scenes with what will privacy unlock for these institutional-type investors who want to tokenize and bring their assets on chain?

So I mean, I said that short-term at least we are going for, for hiding who is behind a transaction and what are the assets and, and balances.

But before we dive into our episode, some of you might be wondering what exactly is COSF?

COSF is a multi-institutional organization of surgical education research fellows working together to foster peer mentorship, networking, and scholarly collaboration.

We meet every week to discuss ongoing research efforts by individuals or by smaller groups within COSF.

If you are a surgical education fellow or a surgery resident interested in education and you're interested in joining COSF, you can learn more about us on our website, cosf.org.

Another approach would be legislative or regulatory action requiring certain baseline benefits nationwide.

This could be minimum retirement contributions, educational stipends, mental health services, and coverage of mandatory training expenses.

The key point is that residents should not have to rely only on institutional goodwill for benefits that are essential to their education, wellbeing, and professional development.

And look, we can belabor the point that salary and benefits aren't adequate all we want, but I don't think it really hits home just what that means until you see what this actually looks like for residents.

But what does that mean? Oh, in the in the absence of standards.

The Long March for the Institutions.

What is being taught about 9-11? Where it's being taught.

Things like teaching beyond September 11th.

The upgrade that we're sort of about to undertake is one that will make us, I think, the most integratable derivatives exchange in the world.

It will make it seamless for other people and teams and builders to come and manufacture complicated, differentiated valuable financial products off the back of Derive's unified risk engine, which has high performance, institutional grade capital efficiency, portfolio margin across options, perpetuals, and spot, as well as a borrowed land market.

So out of those building blocks, you can create all these wonderful financial products.

And the current problem is that no one's been able to actually put those building blocks together there's been this technical blocker around the difficulty there and that is now going to effectively shrink to zero that technical blocker with v3 as well as a whole slew of other smaller upgrades but conceptually it will just increase dramatically increase the velocity for people to get onboarded and start building with derive which i think is really the big edge we have in the long run over

that we are about to embark on to really try and ascend that ladder.

And we, I think, you know, we kind of have like the most bleeding edge technical stack for options anywhere in the world.

And so it's now a game of trying to press that brand, press that advantage and find the right institutional ends and wedges into all of these markets over the next year or two.

So I think this leads us into V3.

We got into Travis Kalanick's Adams.

It's a highly coveted deal, the founder of Uber, first institutional money round deal.

We got into Shield AI, which is drone technology for FSDs.

Essentially, drones are the future of defense.