Unchained
Unchained
Laura Shin
Uneasy Money: Is Jupiter Incompetent or Evil? And Is Hyperliquid's ADL Flawed? - Ep. 976
1 hour 10 minutes Posted Dec 12, 2025 at 5:30 pm.
Introduction
Did Jupiter mislead users?
Did Kamino really block Jupiter over contagion risks?
Why Kain says Solana is in its “post-DeFi summer growth” era
Should Jupiter even care about its lending business line?
Whether Hyperliquid's algorithm screwed users during the Oct. 10 crash
Luca reveals why his Oct. 10 losses on Hyperliquid weren’t so bad
Why Taylor says DPRK traders got saved by Oct. 10
Why Kain is optimistic a rival HL model would emerge
Are Lighter users the product?
Why Kain thinks Lighter's model is genius
Whether Lighter resembles Robinhood
Farcaster’s pivot: Is Web3 social DOA?
What drives VC investment in crypto and why decentralization is not enough
Kudos to Dan Romero for not launching a token, and whether more founders would be better off abstaining
Whether having too much money is bearish for projects
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Show notes
Thank you to our sponsor, MultiChain Advisors!The beef between Solana dapps Jupiter and Kamino has taken a new dimension as Kamino has accused Jupiter of lying about contagion risks.
In this episode of Uneasy Money, hosts Kain Warwick, Luca Netz and Taylor Monahan dive into whether Jupiter misled users and raise questions about Kamino's response.
Plus, after Tarun Chitra’s paper on Hyperliquid’s ADL, they dig deep into the exchange’s design: did they cause unnecessary liquidations on Oct. 10? 
At the same time, they break down Lighter's 0% fees model. Does it resemble Robinhood? And how smart is it actually? 
Plus, what Farcaster's big pivot means for the future of Web3 social, and what Taylor says it would take to crack it.
Hosts:
Luca Netz, CEO of Pudgy Penguins
Kain Warwick, Founder of Infinex and Synthetix
Taylor Monahan, Security at MetaMask
Links:
Unchained:
Jupiter COO Says Vault’s ‘Zero Contagion’ Claim Was Not Fully Accurate
Uneasy Money: Did Solana Dapp Kamino Break the Golden Rule of DeFi?
Uneasy Money: Hyperliquid’s Dilemma After 10/10: Protect Itself or Its Users?
Linda Xie on How Mini-Apps Are Helping Farcaster Take on Web2 Social Media
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