For crypto, an original sin we regularly observe is insiders owning too much of systems that are marketed as public, egalitarian networks.

placeholder.vc/blog/2021/4/1/…
While “fair distribution” is a normative judgment, it flows from what we see as a consensus belief within crypto: creating level playing-fields where everyone has a chance at financial sovereignty.
If a small group of insiders regularly take ~half of the fully-diluted upside (which is common), we’re seriously kneecapping the redistributive effects of this technology in order to make a handful of people obscenely rich.
For @placeholdervc, the range of what we see as viable today and that would help society move forward into more equitable lands, is outsiders getting 2-4x of insiders.
To hit this goal, insiders are allocated 20-33% of a network fully-diluted to get it off the ground.

The permissionless public then receives 67-80% of the initially distributed supply.
As an entrepreneur, the important thing to remember is that you get to decide what you think is the fairest distribution of the network you're creating, and then find investors who match those values.
Where the capital accrues, so too will the power.

placeholder.vc/blog/2021/4/1/…

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More from @cburniske

22 Feb
Everything a company can do, a #DAO will do better.
While the current reality of #DAOs is a long way from the promise, speed of progress is 👀👀
Wait until the "composability" that is much-touted in #DeFi starts hitting mainstream realization for #DAOs.
Read 4 tweets
20 Feb
#Cryptoassets going through their first bull are likely to draw down 95-99% in their first bear.
If you think your asset is so high quality it’ll be excluded, look at $ETH’s first bear (2018-20).
Keep these #’s in mind as you gawk at “how rich you are.” If you just hodl, you may end up with 1-5% of what you have at the peak.

If holding BTC, maybe 15-30%.
Read 5 tweets
17 Feb
$DCR in beast mode.
For a while, skeptics asked what $DCR's raison d'être was.

Sure, @placeholdervc had put out that "Decred’s killer feature is good governance, and with good governance, you can have any feature you want," but what feature(s) was @decredproject providing the world?
IMO the turning point for people realizing @decredproject's ability to bring valuable services to the world was #DCRDEX, which has seen rapid uptake as a privacy-preserving, hard-money #DEX: dex.decred.org
Read 12 tweets
11 Feb
We're in a bullish flywheel.

Bullish news leads to more bullishness, which leads to the release of more bullish news ♾
I'm continually shocked at how driven by *hope* and *fear* all markets are. At their core, humans are so... human.
Capitalism's creation of capital is inherently speculative, try as we may to obfuscate the speculation beneath formality and formulas.
Read 6 tweets
10 Feb
The most informed see the writing on the wall for how integral @BalancerLabs is becoming to #DeFi liquidity.
To date, @BalancerLabs has not been the flashiest of the AMMs, but it is beloved by builders for allowing them to build a vast array of liquidity pools to solve pressing problems.

Developers are sticky and grow independent dependence.
Over time @BalancerLabs will find itself at the center of more & more pivotal liquidity experiments.

The launch of its V2, which will allow for customizable AMM logic, and pools to be used for both exchange & lending, will only turbocharge the trend: medium.com/balancer-proto…
Read 4 tweets
5 Feb
If you’re a #crypto founder, make sure to raise enough capital in the bull to last you through the bear.
Depending on the asset(s) you use to raise, make sure you have enough stable capital to last you for 3+ years come the end of 2021.
The party doesn’t last forever, and many of the quick believers we see around us now will just as quickly be skeptics in the bear.
Read 4 tweets

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