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.

Meanwhile?

Three corporations control whether your challenge lives or dies. Three corporations determine when you get liquidity. Three corporations cost tens of millions to run bots at midnight, dump your tokens every time they really feel like it, and call it "market making."

DWF. Wintermute. GSR.

Say the names. Know them. As a result of they own you. They own 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 same approach. Years of "partnerships" announced with fanfare, adopted by sluggish demise. Years of communities asking "why did we dump?" while the reply was right there - invisible, hidden, protected by NDAs and offshore entities and the snug lie that that is simply how markets work.

It's not how markets work.

It's how extraction works.

They take your tokens at a reduction. They run volume - pretend, actual, does it matter when you'll be able to't see the difference? They pump enough 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 name it Tuesday.

And DEX?

DEX was imagined to be the answer. Permissionless. On-chain. Transparent. 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 building, lifeless in an afternoon.

Not because the challenge was dangerous.

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

The game is rigged on the infrastructure degree.

And we maintain enjoying anyway.

We're tired.

Uninterested in watching good tasks die from one whale exit.

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

Uninterested in pretending quantity is natural when half of it is bots buying and selling with bots.

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

Uninterested in being exit liquidity for algorithms that see the whole lot whereas we see nothing.

So right here's the place we're at.

Market making isn't evil. It's vital. Somebody has to offer liquidity. Somebody has to absorb the impression when whales transfer. Somebody 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 possibly can't see the capital - that's manipulation.

When you'll be able to't see internet movement, can't see if they're shopping for or dumping, can't verify a single trade - that's manipulation.

But if you CAN see every thing?

That's just infrastructure.

That's just math.

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

No one's building this. Everyone's too scared to admit market making exists. Everyone's too scared to interrupt the taboo. Everyone would relatively fake their quantity is organic than admit they need 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 exhausting. We call it "partnership" as a result of "safety money" sounds too trustworthy.

What wouldn't it even appear to be if someone broke the silence?

What if a challenge just... stated it?

We're operating market makers. Here's how many bots. Here's how much capital. Right here's internet movement in real-time. Here's every 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. Except we don't cost 5 million dollars for the privilege.

Would that be manipulation? Or would that be probably the most trustworthy thing anyone's ever achieved on this area?

Don't we would like someone to attempt it?

Aren't we ready for someone to have the balls to break the taboo, expose the game, and show that transparency beats secrecy?

Perhaps we'll hold ready eternally.

Or perhaps somebody's already constructing it and we simply don't know yet.

Decentralization was purported to imply we don't need permission.

We don't want gatekeepers.

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

It's time to recollect.

It's time to stop tweeting the word and start 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 came right here to construct new ones.