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 management whether your undertaking lives or dies. Three corporations determine when you get liquidity. Three corporations charge hundreds of thousands to run bots in the dead of night, dump your tokens each time they feel prefer 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 because we forgot what we have been imagined to be constructing.

We've watched this recreation for years.

Years of charts that bleed the identical means. Years of "partnerships" introduced with fanfare, followed by sluggish demise. Years of communities asking "why did we dump?" while the answer 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 quantity - pretend, real, does it matter when you possibly can't see the difference? They pump enough to usher in retail. Then they promote. Slowly. Invisibly. While operating buy-side bots so the chart seems to be wholesome.

You hold.

They exit.

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

And DEX?

DEX was presupposed 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 constructing, lifeless in a day.

Not because the venture was dangerous.

Because no one defended it. As a result of there was no liquidity depth. Because DEX doesn't have billion-dollar machines operating in the background like each 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 correct individuals.

Uninterested in pretending volume is organic when half of it's bots buying and selling with bots.

Uninterested in the lie that decentralization means something when three corporations management liquidity throughout the whole market.

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

So right here's where we're at.

Market making isn't evil. It's mandatory. Somebody has to offer liquidity. Someone 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 possibly can't see the capital - that's manipulation.

When you'll be able to't see internet move, can't see in the event that they're shopping for or dumping, can't verify a single commerce - that's manipulation.

However once you CAN see every part?

That's simply infrastructure.

That's simply math.

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

No one's constructing this. Everybody's too scared to admit market making exists. Everyone's too scared to interrupt the taboo. Everybody would fairly fake their volume is organic than admit they need bots identical to everybody else.

So we keep silent. We let the cartels function in darkness. We pay our hundreds of thousands and pray they don't dump too arduous. We name it "partnership" because "protection cash" sounds too trustworthy.

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

What if a challenge just... stated it?

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

We're doing what DWF does. Besides you'll be able to see all of it. Besides 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 carried out on this area?

Don't we would like somebody to attempt it?

Aren't we waiting for somebody to have the balls to interrupt the taboo, expose the game, and show that transparency beats secrecy?

Perhaps we'll hold ready ceaselessly.

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

Decentralization was presupposed to imply we don't want 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 remember.

It's time to cease tweeting the phrase and begin building the thing.

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

We didn't come here to play by their rules. We got here right here to build new ones.