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infoparity ䷀

Jan 23, 2020 • 6 tweets • 3 min read • Read on X

1/ I've heard through the grapevine of some F500's projecting the global market opportunity for DLT (blockchain) is ~ $1 Quadrillion USD. People don't understand the extremity of what is about to take place in the data/automation revolution, aka #4IR.

2/ The world is going to be data-fied and fed to computers to automate manual processes. DLT is what is going to enable this. Enterprises are expected to save 30%+ in operating costs by using this technology compared to manual labor currently used. 

accntu.re/37mt5Nx

@chainlink

3/ However, this automation isn't possible from a "trust" perspective without @chainlink's technology which connects data (weather, GPS, financial, etc.) to smart contracts (tools of automation run on the blockchain) in a decentralized, trustless manner.

@chainlink

@chainlink 4/ $LINK: I can trust this data automating my process because it was determined by a consensus of 1000's of computers (nodes).

VS.

Centralized Oracle: I can't trust this piece of data because it's now a single point of failure to alter my automation's end result.

@chainlink

@chainlink 5/ This seems like a pretty glaring issue. One might say, "I wonder why no one else is working on this?"

The reason being that no one, besides $LINK, saw this far ahead of the issues that would arise from trying to move to DLT infrastructure for process automation.

@chainlink

@chainlink 6/ The best analogy would be owning equity in http (the protocol that runs the whole internet) but on steroids. If $LINK doesn't work then DLT will not be adopted and it will die. If it does work then it enables this $1 Quadrillion global market.

bit.ly/2v8Xtg7

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More from @infoparity

infoparity ䷀

@infoparity

Jun 25, 2022

@Bancor

1/ 🧵 Operation Save @Bancor $LINK Pools

Simple Proposal:
1. Self Destruct V2.1 LINK pool and pay 100% LP coverage + swap revenue to V2.1 LPs
3. V2.1 LPs forfeit (burn) BNT LM Rewards
4. Migrate surplus LINK to v3 to improve deficit by 8%

Full details provided below

2/ Bancor as a single sided AMM functions just like a standard AMM but:

1. instead of an LP providing 50/50 LINK/BNT to the pool, Bancor synthetically mints BNT ("sBNT") internally to match the value of LP deposit

2. $BNT is paid to LPs as impermanent loss protection (ILP)

2/ The myth of 50% IL experienced on v3:

A $500 $LINK deposit on the v3 start date would start as:

- 62.19 LINK deposited by the LP
- 340.14 internal sBNT minted for 50/50 match in AMM

This sBNT never leaves the system, creating protocol rev through swap fees to cover ILP

Read 12 tweets

infoparity ䷀

@infoparity

Feb 19, 2021

SECURITY THREAD

Given the increase in scams, data leaks, etc. the following thread will be general security recommendations for interacting with crypto. Feel free to reply with your best security practices so everyone successfully rides the golden bull.

@metamask_io

1(Basic): At minimum use a hardware wallet for storage.

- Not my keys, not my crypto
- Can connect to Dapps through @metamask_io (always check tx hash matches before signing)

@Ledger and @Trezor are the 2 biggest and there are new products coming online.

2(Basic): Get at least 2 Yubikeys.

- Setup the key with all of your accounts (coinbase, email, etc)
- An attacker would need to physical steal the key in addition to knowing your password to be able to access any yubikey-secured accounts.

yubico.com

Read 8 tweets

infoparity ䷀

@infoparity

Feb 11, 2021

1/ I wonder when it will finally click... that "aha" moment for the masses. DLT beyond not just a "store of value" but something intrinsically of much higher substance. That substance being in resemblance to the feelings evoked through this image:

2/ Trust- the basis of all human relationships and the fundamental underpinning of centralized society. We have to "trust the system", "trust the process", "trust each other." This need "to trust" is a problem when viewing the world as an economic flow of value.

3/ If one thinks to history, all previous industrial revolutions ("IRs") have been about the removal of some human aspect of the current economic system. The human aspect has always served as friction in the flow of economic value (money) from a transactional perspective.

Read 10 tweets