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 should 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. Because 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 building.

We've watched this recreation for years.

Years of charts that bleed the same approach. Years of "partnerships" announced 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 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, real, does it matter when you possibly can't see the difference? They pump enough to usher in retail. Then they sell. Slowly. Invisibly. Whereas operating buy-side bots so the chart seems healthy.

You maintain.

They exit.

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

And DEX?

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

But 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 an afternoon.

Not because the undertaking was dangerous.

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

The sport 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 proper individuals.

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

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

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

So here's the place we're at.

Market making isn't evil. It's mandatory. Somebody has to offer liquidity. Someone has to soak up 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'll be able to't see internet stream, can't see if they're buying or dumping, can't confirm a single trade - that's manipulation.

However whenever you CAN see every thing?

That's just infrastructure.

That's simply math.

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

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

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

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

What if a undertaking just... stated it?

We're operating market makers. Here's what number of bots. Right here's how a lot capital. Here's internet move in real-time. Here's each trade, logged, verifiable, on-chain.

We're doing what DWF does. Besides you possibly can see all of it. Besides we will't dump in secret. Except we don't charge 5 million dollars for the privilege.

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

Don't we would like somebody to attempt it?

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

Perhaps we'll hold waiting perpetually.

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

Decentralization was alleged to mean 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 stay or die.

It's time to remember.

It's time to cease tweeting the phrase 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 got here here to build new ones.