1/ IMO, @iearnfinance's DeFi Voltron is the most interesting in thing happening in DeFi right now. π€
Are these just friendly collaborations like anything else in crypto? Are several semi-closed DeFi Collectives starting to emerge?
A thread on what I call "DeFi Collectives" π
Are these just friendly collaborations like anything else in crypto? Are several semi-closed DeFi Collectives starting to emerge?
A thread on what I call "DeFi Collectives" π
https://twitter.com/leokcheng/status/1333885648944578560
2/ Is it nothing to think about? Or could it be laddering up to something more profound in 2021 and beyond in DeFi?
One view is that it's an innocuous thing (which could be true, for now). Another is that it'll take competitive strategy and game theory in crypto to a new level.
One view is that it's an innocuous thing (which could be true, for now). Another is that it'll take competitive strategy and game theory in crypto to a new level.
3/ I wrote a lot about competitive strategy in DeFi this year when @SushiSwap vampire attacked @UniswapProtocol via a fast follower fork. Below is my piece in @BanklessHQ in September about Fork Defense Strategies in DeFi.
https://twitter.com/ianjohnlee/status/1306355247816695808?s=20
4/ DeFi Collectives like DeFi Voltron are really interesting to me from a collaborative and competitive dynamics perspective.
I think it could take competitive strategy and game theory in crypto to the next level... If fork attacks took DeFi from 2D to 3D chess, this is 4D+...
I think it could take competitive strategy and game theory in crypto to the next level... If fork attacks took DeFi from 2D to 3D chess, this is 4D+...
5/ Here are some provocative questions that emerge for me looking at this:
a/ Will we start to see protocols who work together as Collectives close not all but certain things off to others that are competitive (e.g., integration support, docs, roadmap, etc.)?
a/ Will we start to see protocols who work together as Collectives close not all but certain things off to others that are competitive (e.g., integration support, docs, roadmap, etc.)?
a (cont'd)/ ...Will they start to give fast tracks, share their roadmaps, or work with only each other on new protocols, tools, products, etc. way in advance, enabling them to out innovate other standalone protocols or other DeFi Collectives?
b/ Will we actually see true protocol takeovers/mergers in the future, where after two protocols' token economies become so integrated, to reduce security risk, or to improve the common user experience, one network and its token is destroyed in return for the surviving one?
c/ Will we see DeFi Collectives come together to build a common, all-in-one UX/UI that enables users to do things more easily across multiple protocols? With that enable users to do many complex transactions in one across multiple protocols?
c (cont'd)/ ...Will protocols coordinate to optimize costs or together further boost rewards across the combined network? Could they build a one-stop shop so that users only go there for everything?
d/ Where do Aggregators fit into this? Will they pick certain DeFi Collectives? Will they be the thing that crosses/connects Collectives? Will they create their own Collectives, or fork the underlying protocols?
e/ It's not a winner-take-all, but still, who wins vs. loses and why? What will be the characteristics of winners vs. losers? Do shared values and culture play a role? What about on-chain social networks/graphs?
6/ My current hypotheses on what will be important:
- shared values and culture
- collective strategy
- owning the relationship with end users
- delivering the best UX (oh hi @IDEOVC)
- crypto social networks
What are others views on this development?
- shared values and culture
- collective strategy
- owning the relationship with end users
- delivering the best UX (oh hi @IDEOVC)
- crypto social networks
What are others views on this development?
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