Continue to like the pace at which the @BreederDodo team iterates + take user feedbacks. Looking forward to v2.0 with more features. A few additional thoughts on how AMM+ may evolve in the next 6 months:
Protocols need clean roadmaps for both 2C and 2B -- 2C is as in a solid interface for all key functions a degen may need (assuming trading isn't disintermediated), and 2B is Biz Dev for POS + best algo / optimization for aggregators.
I could argue that all AMM would need to become aggregators eventually (with private pools), and vice versa -- for when you worked so hard on CAC for a customer, you don't want them leaving to another venue. The same goes for adding lend/borrow, derivative features as well
Similarly, the "degen"-feature for B2C landing page of AMM+ protocols are severely lacking. I don't want to open 4-5 screens just to track whale movements, their cost basis, what else they own, etc. I want to plug in a ticker @ AMM and know that with good UI / charts.
Whoever becomes "all-in-in" trading platform with solid features to serve all degen-needs + got good order router + toolsets + cheapest cost & L2 scaling + best biz dev for user-touch points (wallets, etc) may ultimately take the crown. It's gonna be heated the next 6 mo.
...you need UI/UX, you need biz-dev, you need good engineers for 2B features + prep for L2 & maybe new chains, you need degens to know features degens want, you need community leaders to grab top projects for fresh-launches, you need good token design. Yeah, it's gonna be heated
I meant "all-in-one"!
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(0) Since our last report on July 4th, 2020, The #DeFi space and our mental framework had evolved enough to prompt another iteration – a deck about the broader #valuenet and ETH-based #DeFi / #WallstreetAPI. As usual, would appreciate any feedback!
(0.5) As #Bitcoin soars to uncharted heights today and hitting sweetest part of adoption S-curve at 3rd to 4th inning, we feel like broader #valuenet + #DeFi concept is barely at top half of first inning. If one is so adventurous, this is likely where the next 100-10,000x is born
(1) @cdixon coined the term “game-theoretic guarantee” for tx offered by L0/L1s (too cogent not to steal) -- this nascent, transparent, market-driven alternative harbors a different cost function vs. the legacy recourse-deterring ones, as seen by the Value-transfer-cost U-curve.
(0) This will be a thread about $DHT, what I deem the prime brokerage /custodian / managerial platform on top of $SNX. While you are at it, if you think you got the chops, make sure to apply to the $500k seed investment to kickstart your fund:
(1) $DHT’s core function very similar to a combo of SS&C, Millennium pod platform, StanChar custodian, and JPM Prime Broker. All the back-end & admin details taken care of, so all a manager needs to do is to generate returns (algo or discretionary)
(2) For any aspiring traders, value-prop is simple – if one has so much alpha, why not leverage that know-how and earn some carry? Those that can, do; those who can’t would just larp / shitpost on youtube / twitter while selling newsletters (you know who you are).
(0) While the progress of L2 is on-going, I think another area within #DeFi is highly interesting today and remains slightly underexplored by buidlers and speculators / investors alike – tools & modularization add-ons ($GRT, $Gauntlet, $KP3R, $GYSR)
(1) In this thread I will give 2 types of directions I see today – (a) B2B type buidler tools like $GRT and $Gauntlet, and (b) process-streamlining / modularization tools like $GYSR and $KP3R. This is not endorsement by any sorts but merely highlighting what’s cool out there.
(2) B2B tools by definition service the buidler community to help them buidl better – and there are 2 areas one can find particularly visible that’s almost blockchain / web3 native: one is faster retrieval of standardized on-chain data, and other being simulation of all sorts.
(0) I’ve been quiet for a while but that’s because the Web3 space today is in serious #buidl mode and I don’t have much to say. Some preliminary thoughts on gov, #DeFi, and CBDC after the past 2-3 months; as usual if I have more time, it’d be more coherent and shorter.
(1) Only users that contribute to network effect of protocol deserves to be rewarded. The pure value provided by a good service (for non-network-effect biz) is good enough for most users, giving them more value-capture is dilutive to protocol value. Most users don’t deserve shit.
(2) Control is needed to retain flexibility in times of shock / need for intervention. #DeFi apps before maturity are not L1/L2 where decentralization is foundational feature. To quote Bo @ Dragonfly, Web2 apps are trains where adjustments to carts & passengers are constant…
Hot $UNI takes
- Initial reaction is dump $UNI into your favorite token across (long best DEFI coins)
- 2nd reaction is long ETH as alts take-profit + buy to farm $UNI.
- 3rd reaction is ETH based farms likely higher yield given ETH goes to $UNI pool (percent & pickle to name 2)
- 4th reaction WBTC getting love w/ $UNI pool = BTC onchain up = accelerated pull from exchange to ETH, bullish $BTC
- 5th reaction new projs launching could weak book build (like $DHT) but could moon post listing w/ profits from factors above.
- 6th reaction is arbs will be everywhere ($AAVE migration, basis trades, etc) due to fund capital constraints. Free money for those w/ capital
- 7th reaction is gas fee is gonna moon, long L2 tokens + gas token as derivative play. Spare stablecoins will get ridic borrow fees
0 - As popularly requested, this will be a thread about $NXM. The token design of $NXM is one of the most elegant I have seen yet. Enough good work had been done by @krugman25, @Darrenlautf, @BatmanDeFi on bonding curves and core mechanics so I won’t repeat here.
1 - $NXM = equity tranche of an Insurance group; despite the “mutual” tag, given buyers of insurance doesn’t need to own $NXM today, feels more like a typical insurance biz. At capital pool of 160-165k ETH and mkt cap of ~900-950k ETH, $NXM InsureCo trades at 5.5-6.0x PB.
2 - 1st thing most need to realize is that $NXM is in persistent ICO / capital raise mode unless (market cap – 3 mm * px) / capital pool <1 (i.e. not raising money when this InsureCo trades below book), which is also coincidentally when MCR % < 100%.