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Jeff Dorman Profile picture
@jdorman81
Sep 21, 2020 • 5 tweets • 3 min read • Read on X
Tons of great content from the @arca team today, crossing a variety of topics including:

1) , and - a great week for digital assets
2) the melding of CeFi & #DeFi
3) Fighting for tokenholder rights
4) Is a security? (answer, no)

Thread 👇 with all 4 pieces
In this week's "That's Our Two Satoshis", we discuss why the offering from @UniswapProtocol was so groundbreaking, & how can be valued as a sum-of-the-parts between "utility" & "security". We also discuss and its price bifurcation.

ar.ca/blog/crypto-ma…
On the Arca Labs side, our team discusses how CeFi and #DeFi converge, using an example with our own ArCoin’s path towards becoming collateral.

arcoin.arcalabs.com/news/thought-l…
@CoinDesk published our thoughts regarding tokenholder rights, and why tokenholders have a voice in this industry. It's our job as stewards to push companies and projects to be responsible.

coindesk.com/activist-inves…
Finally, the main event. Arca co-founder @PhilipLiu & his 25+ yrs of experience as a securities lawyer tackles @UniswapProtocol and their innovative token. He believes they cracked the code to a fair decentralized launch.

ar.ca/blog/are-uni-t…

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More from @jdorman81

Jeff Dorman Profile picture
Feb 16
I'm fed up with misinformation in crypto. Somehow the world seems to be getting even LESS educated on what is happening with the true growth of blockchain. For every rational, honest, factual take, there are 100 dishonest, incorrect takes floating around.

A thread 👇
Take this blurb from @NYDIG

Really? Everything that isn't BTC is still an “altcoin”? There are 10+ distinct sectors now, & hundreds of different token types (asset-backed, quasi-equity amortizing buyback tokens, debt-like, etc).

Stop pandering to the dumb & start educating. Image
To take this space seriously, we must differentiate the wheat from the chaff. We put together a taxonomy almost 5 years ago - it’s definitely not a brand-new concept.  Take the time to learn and teach.

ar.ca/digital-asset-…
Read 17 tweets
Jeff Dorman Profile picture
Jan 18
The market is losing its mind over the $TRUMP coin, and completely missing the plot. Here’s why this is going to be incredibly long-term bullish for the industry (and it has nothing to do with TRUMP coin itself).

Thread 👇
To start, the pushback for 3+ years from both potential token issuers and potential investors in the U.S. has been “regulatory concerns”. This is now completely eradicated when the President himself is both and issuer and an investor
Now, just because the President issued a memecoin doesn’t mean the entire world will only focus on memecoins. Trump validated the technology, yet introduced only one use case of the technology. Potential issuers and investors can see beyond this limited use case
Read 10 tweets
Jeff Dorman Profile picture
Aug 4, 2024
What new info do we have that is causing a crypto panic? Let's evaluate one at at time

5 reasons:

1) Macro
2) Jump selling
3) ETF flows
4) Kamala jumping in the polls vs Trump
5) Middle East
6) Supply
1) Macro signal Friday was obvious short-term sell signal. 10yr UST fell -40 bps, oil smoked, equities continue to bleed & the VIX spiked +25% Friday.

But long-term, VIX is conditioned to retreat, Fed will cut rates in Sept, and still an election year

TRADE? Buy this dip
2) Jump selling - maybe bought puts ahead of dumping? 90%+ of the selling of ETH is sold/at exchange. $510M of $550M in wallet is in stables now.

Interesting that they are transferring stables back out to their wallets instead of off-ramping at exchange

TRADE? Buy this dip Image
Read 8 tweets
Jeff Dorman Profile picture
Sep 13, 2023
Been tweeting / replying a lot today about the FTX court approved sale of crypto assets, so if you missed key points, here's a summary with a few updates:

1) Galaxy Asset Mgmt, not their trading desk, won the bid. They must act as a fiduciary & sell gradually & opportunistically
2) Galaxy is receiving massive amounts of reverse inquiry already (some from real funds, some fishing expeditions). But OTC sales will dominate the buying. Less likely to see a lot of selling on exchange or via TWAPs. As good bids come in, they will engage.
3) The $100mm max per week is really not relevant. They can ask for court approval if they get a bigger block bid, and they don't have to sell anything in any given week. The $100mm was just a guideline to prevent dumping and destroying value for the estate.
Read 9 tweets
Jeff Dorman Profile picture
Jun 5, 2023
My 2 sats on SEC vs Binance

Mostly irrelevant since no one operates in the US anymore and a bunch of non-criminal charges for past wrongdoings don’t really matter.

I see 2 actual negatives from this: ⬇️
1) SEC explicitly defining certain tokens randomly as securities could lead to delistings on Kraken & coinbase or any other US exchange

2) negative sentiment effect if CZ is out and people loved him

That’s about all I see. Pretty benign otherwise.
From a market standpoint... how many times can you rally on the same news over and over again (2020 - corporates buying BTC) or sell off on the same news (2023 - SEC hates crypto)

It just doesn't have much impact any more
Read 4 tweets
Jeff Dorman Profile picture
Jan 24, 2023
1) The $DYDX tokenomics model is broken, with several key issues:

- Revenues flow to dYdX Trading instead of to tokenholders
- High Inflation & Large upcoming unlocks
- V4 Shipping delays

A thread on the problems & suggestions 👇

h/t @Crypto_Alex17 @MattHepler8
2) Over the past 6 months we observed other $DYDX stakeholders highlight these same issues on DYDX’s public channels. We expect significant improvements to the value & sustainability if the tokenomics are fixed, especially as users move from CeFi to DeFi derivatives post-FTX
3) Arca has engaged the @dydxfoundation , DYDX Trading & major stakeholders to address some of these issues but have been met with resistance and apathy.

With product delays ahead of a major bear market unlock, it is time to make this discussion public.

Let’s dig in:
Read 23 tweets

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