Credible Commitments

In this episode of Credible Commitments I talk to Mike Neuder, PHD student at Princeton University. Mike gives a masterclass on ePBS breaking down the mechanism, the microstructure, the incentives, and likely consequences. Next we dive into PropAMMs on Ethereum focusing on the data. The conversation shifts to ETH as a store of value, issuance, and MEV burn. Finally, we preview the 2026-2027 NBA season.

Timestamps

(00:00) - Consensus research - Tezos, Gasper
(03:47) - Ethereum ZK prover market design
(04:55) - Learnings from time at the EF
(06:29) - PBS first principles, building an intuition
(12:20) - ePBS and pipelining
(15:25) - Payload Timeliness Committee (PTC)
(17:43) - ePBS and blobs
(18:58) - Trustless payments
(24:16) - Small builders and gossiping bids
(27:34) - Relay as an aggregator
(30:12) - Briefly on the free option problem
(33:24) - Fork choice rule uncertainty
(35:02) - Unbundling consensus
(37:11) - PropAMMs & Ethereum
(39:05) - PropAMMs are net negative for total MEV!
(42:31) - Following the tx flow through PropAMMs
(46:09) - Taker speed bump effectively
(48:41) - The negative pAMM feedback loop
(51:00) - MCBP and resource pricing
(54:47) - MEV Burn? No
(57:15) - Against changing ETH issuance
(1:00:44) - Issuance's impact on ETH SOV narrative
(1:04:48) - Chopping Block issuance change
(1:06:33) - Sanctuary technology thesis
(1:10:48) - LeBron to the Sixers
(1:15:41) - Kawhi Leonard, Steve Ballmer, & cap circumvention
(1:22:28) - 2027 NBA Champion predictions

Disclaimer
Nothing in this episode should be interpreted as financial, technical, or legal advice.

In this episode of Credible Commitments I chat with Drew Van der Werff, CEO of Blockspace USA. We catch up on the PBS pipeline including Commit-Boost and ePBS. Then we introduce Blockspace and their new initiative— multi-party block construction— the holy grail of block building for Ethereum.

Timestamps
(00:00) - Commit-Boost to Blockspace
(05:16) - Reflecting on the adoption cycle
(08:37) - On neutrality and independence
(10:27) - Some context on PBS
(14:07) - The impact of ePBS
(20:00) - It boils down to economics
(24:17) - Blockspace Forum & gaps in PBS pipeline
(28:00) - Multi-party Block Construction
(30:43) - MPBC Operator as an evolution of a relay
(33:40) - MPBC operator can turn a profit
(36:06) - Does this ice out smaller builders?
(40:06) - An introduction to Blockspace
(43:25) - Heavy and light nodes
(44:36) - Issuance is a contentious thing
(50:15) - Applying a growth mindset to Blockspace

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[1] Drew on X: https://x.com/DrewVdW
[2] Blockspace: https://x.com/Blockspace_ETH/status/2084614592139813298
[3] Blockspace Forum: https://blockspace.forum/index.html
[4] Commit-Boost: https://github.com/Commit-Boost


Disclaimer
Nothing in this episode should be interpreted as financial, technical, or legal advice.

In this episode of Credible Commitments I chat with Ceteris, Head of research at Delphi. Ceteris breaks down equities, ZEC, HYPE, Fomo, Robinhood chain, ETH, Solana governance, and why its a token picker's market.

Timestamps

(0:00) - Breadth across the S&P tape
(1:50) - HYPE, VVV, ZEC
(3:46) - Debasement trade & MSTR
(6:09) - Robinhood Chain
(10:36) - Social trading & Fomo strategy
(13:19) - The big meta for crypto
(16:19) - ZEC has asymmetric upside
(19:00) - HYPE vs. ZEC over 5 years
(24:32) - Prediction markets & super apps
(29:03) - Robinhood Chain
(34:43) - COIN vs. HOOD vs. HYPE over 5 years
(39:42) - ETH is money
(43:08) - Solana governance votes & platform risk
(46:47) - FX is the holy grail
(50:11) - Crypto is the best place for capital formation
(53:13) - It's still a token picker's market

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Disclosure: Credible Commitments is an independent podcast. These are opinions of the host and guest alone. Nothing here is financial, legal, or tax advice. The host owns positions in ZEC, ETH, & HOOD.
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Ceteris on X: https://x.com/ceterispar1bus


Disclaimer
Nothing in this episode should be interpreted as financial, technical, or legal advice.

In this episode of Credible Commitments, I chat with Chang—operator, builder, and crypto native.
Chang unpacks why Robinhood chain is winning users and developers, the future intersection of content and casino games, the state of perps trading, and how incentives drive human behavior.

Timestamps
(00:33) - The class of 2021
(03:58) - Data collection for robots
(08:12) - Robinhood is winning devs & traders
(10:42) - Things can still get crazier
(12:49) - Intersection of content & casino games
(17:14) - The future of prediction markets
(19:40) - On the growth of perps
(21:55) - Mobile UX for perps trading
(26:09) - Future trading UIs
(28:24) - RWA fragmentation and use cases
(31:36) - CEXs going after RWA market share
(33:09) - Bull case for Ethereum
(37:17) - There is still a future for more L1s
(39:24) - Token vs. equity
(42:52) - Number go up incentivizes competition
(44:40) - Customer acquisition and GTM strategies
(46:05) - Zoomers love AI & Psychosis
(47:05) - Seeking alpha

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Chang on X: https://x.com/chang_defi


Disclaimer
Nothing in this episode should be interpreted as financial, technical, or legal advice.

In this episode of Credible Commitments I chat with Barnabé Monnot—founding member of Ethlabs.
We make the case for Quick Slots: a quintessential upgrade for Ethereum. Later we discuss fast finality, L1 & L2 strategy, and Fast Confirmation Rule (FCR).

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Timestamps
(00:57) - Why Ethlabs now
(04:42) - Moving faster, product focus
(07:38) - The founder journey so far
(11:12) - Quick Slots are a major unlock
(16:40) - Why quick slots for Hegota and not J*
(21:34) - Clearing the three hurdles for shorter slots
(24:02) - PQ architecture & smart contract dependency
(28:08) - Steel-manning Faster Slots
(33:08) - Validator consolidation & decoupling consensus
(36:53) - Fast Confirmation Rule (FCR)
(41:57) - FCR GTM strategy & adoption
(46:28) - Fast Finality & Trade-offs
(49:56) - L1 & L2 symbiosis
(56:02) - Based rollups
(59:10) - An L1 strategy
(1:02:58) - Potential Gen Z & Gen Alpha strategies
(1:06:43) - Agentic finance onchain
(1:09:26) - Ethereum feeling alive

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1. Barnabé's official position:
https://x.com/barnabemonnot/status/2092574823939461247

2. Ethlabs' official Hegotá EIP ranking:

https://x.com/ethlabs_org/status/2097838222621446629 

3. EIP-8198: Quick Slots:

https://eips.ethereum.org/EIPS/eip-8198

Disclaimer
Nothing in this episode should be interpreted as financial, technical, or legal advice.