{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Big Brain Podcast","title":"Gauntlet CEO Tarun Chitra on Why Exchange ADL Mechanisms Need an Update","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/971fbf7d\"></iframe>","width":"100%","height":180,"duration":3783,"description":"In episode 10 of The Big Brain Podcast, Larry and Namik are joined by Gauntlet founder and CEO Tarun Chitra. Tarun recounts how an unexpected ADL event on a tiny test position pushed him to research how exchanges handle insolvency when liquidations fail, especially after October 10th. He argues the common ranking approach concentrates losses unfairly and may overshoot during cascading events. The discussion also covers transparency, insurance funds, and why improving these systems matters if perp exchanges want to onboard new users.\n\n\n\nOUTLINE\n\n00:00:00 - Introduction\n\n00:00:54 - Tarun’s background\n\n00:10:50 - Tarun's ADL paper\n\n00:15:40 - ADL usage\n\n00:26:25 - Transparency gap\n\n00:31:44 - Critiques of Tarun's paper\n\n00:36:32 - Impact of Tarun's paper\n\n00:41:09 - Potential fixes\n\n00:45:31 - Cult-like communities in crypto\n00:52:42 - 10x verticals looking ahead\n\n01:02:29 - Conclusion\n\nGuest links:\n\nTarun Chitra - x.com/tarunchitra\n\nGauntlet - x.com/gauntlet_xyz\n\nShow links:\n\n- Apple: apple.co/43F3vmq\n\n- Spotify: spoti.fi/44NT1lZ\n\n- Larry: x.com/lawmaster\n\n- Namik: x.com/NamikMuduroglu\n\n- The Block Podcasts: x.com/TheBlockPods\n\n\n---------------------------------------------------------------------------------\n\nSubscribe to The Block's Newsletters!\n\n🚨 Breaking News\n\n👨‍🔬 Expert Analysis\n\n📈 Market Insights\n\nSubscribe now 👉 https://www.theblock.co/newsletters\n\n---------------------------------------------------------------------------------\n\nHiring in crypto?\n\n🧠 Find top talent fast with Campus, powered by The Block!✅ Challenge candidates with our Crypto Assessment Test⚡ Hire faster, build stronger teams\n\nStart your free trial today 👉 https://theblock.co/campus","thumbnail_url":"https://img.transistorcdn.com/I18BSwYwgXvhi2APDN66HFv8nCBB1waiEpBXfE8G4Vg/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS81MjRi/Mzk1OGEwY2ExMjJh/YmQwMmRjYTU1MWIw/ZjRmZS5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}