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Andrew Kang Profile picture
@Rewkang
Jun 23, 2020 • 6 tweets • 2 min read • Read on X
Ethereum will become the secondary Bitcoin settlement layer

#parabolic Image
wBTC will be to BTC what USDT is to USD Image
H/T @defipulse

btconethereum.com
Throwback

better res graph Image
Huge demand for wBTC - wBTC more valuable than BTC

https://t.co/oZ3AOYPUqW

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More from @Rewkang

Andrew Kang Profile picture
Dec 18
1/ Ethereum has a fragmentation issue. Liquidity spread across dozens of chains/rollups not composable with each other

Justin Drake proposed an advanced scaling solution in 2023 called Based Roll Ups

@puffer_unifi @puffer_finance are the first to execute on this vision
2/ “A rollup is said to be based, or L1-sequenced, when its sequencing is driven by the base L1. More concretely, a based rollup is one where the next L1 proposer may, in collaboration with L1 searchers and builders, permissionlessly include the next rollup block as part of the next L1 block.” – Justin Drake
3/ Based Sequencing allows for

- liveness and decentralization of the Ethereum network, ensuring reliability without relying on a single point of failure.
- no need to operate a dedicated sequencer.
- 100ms execution due to preconfirmations
- Economic alignment with the L1, creating new revenue opportunities for existing validators through non-extractive MEVImage
Read 11 tweets
Andrew Kang Profile picture
Nov 21
Upping my odds of an eventual $DOGE ETF to 90%

Moon soon Image
Ngl I wouldn’t be surprised if a Doge ETF got more net inflows during a similar one year time period than the ETH ETF

Have actually heard of substantial institutional interest in DOGE

In the bull market, it’s like Bitcoin, but with more upside
Larry Fink’s face when he thinks about all the fees he’s about to collect from his Doge ETF Image
Read 5 tweets
Andrew Kang Profile picture
Oct 27
It’s counterintuitive, but the best tokenomic design for a project (and retail) is to not have investor lock ups and have as much tokens to be as circulating as possible on Day 1 (except team, treasury)

One year cliff and 3-4 year vests are a poor standard that came about from a misunderstanding of capital markets and lazy copy pasting from prior projects

In reality, long vests have little impact on investor contribution post TGE. Good investors will be supportive whether tokens are vesting or not. Opposite for passive investors

The standard needs to changeImage
I wrote about why low float high FDV was bad in 2021. Back then projects started to copy the Serum model of 1% circulating - I pushed that projects should have at very minimum 15-20% circulating on TGE. Now I believe even that is too low. The standard should be 65-75%+

We've given a lot of this advice to new founders, but its tough because you are fighting against bad tokenomics advice from lawyers that misinterpret securities law and other VCs that try to push the status quo

But talk to any past founder and most will tell you that vesting + low float designs are a mistake and result in major headaches down the lineImage
Read 4 tweets
Andrew Kang Profile picture
Aug 11
No knowledge of anything actually happening but combination of the below leading me to bet that there’s some interesting developments upcoming for $SUI

1. Raoul pal shill thread while he sits on advisory board
2. Large OTC bids
3. Relatively strong holdership through big unlocks
4. Aggressive price action with no pullback
5. Big recent performance upgrade with Mysiceti potentially allowing for interesting new apps
Many people commenting that they are giving grants to people to shill. If true, this is bullish
Potential speculation into Korea blockchain week announcement
Read 5 tweets
Andrew Kang Profile picture
Mar 11
This was pretty insane memecoin alpha from AVAX foundation

Whenever a big player says they are buying, it never fails to ignite momentum when market conditions are ok (CZ/Binance in March, early Saylor buys, etc). Suddenly, the technology improves

Don’t fight the fed
Think you see this strategy replicated across all chains/foundations in the future, just as all of them launched DeFi incentive programs

It’s a very high ROI/probability way to increase onchain activity, bridging inflows, community members, etc
It’s the same reflexive loop that chains saw with NFTs last cycle where people needed to buy the chains coins to buy the NFTs and every chain wanted NFT collections but I think there’s more power in this loop because tokens are better speculative vehicles than their NF counterparts
Read 4 tweets
Andrew Kang Profile picture
Dec 30, 2023
1/ The road ahead for Arbitrum ($ARB) - Mega thread

2021
- Arbitrum launch

2022
- Nitro upgrade for improved performance
- Arbitrum Odyssey introduced but paused
- Arbitrum Nova, a separate chain built for lost-cost transactions focused on gaming and social apps was launchedImage
2/ 2023 was the year of big launches and announcements

- Launched highly anticipated $ARB token, with 1.162B tokens distributed to ~580k wallets
- TVL doubled since the start of the year
- 4th highest TVL chain - more than Solana and Optimism combined
- Resuming Arbitrum Odyssey Image
3/ But things are just getting started for Arbitrum.

Believe that these following catalysts/narrative will really kickstart the arbitrum flywheel going into 2024:

- Arbitrum Orbits
- STIPS
- ARB Staking
- EIP-4844
Read 15 tweets

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