1/
A good sanity-check:
The more invested or bullish you are in something the more you should try to find flaws in your investment thesis.
Be brutally honest with yourself.
⬇️An honest critique of @terra_money @mirror_protocol @anchor_protocol
$LUNA $ANC $MIR
A good sanity-check:
The more invested or bullish you are in something the more you should try to find flaws in your investment thesis.
Be brutally honest with yourself.
⬇️An honest critique of @terra_money @mirror_protocol @anchor_protocol
$LUNA $ANC $MIR
https://twitter.com/_0x_larry/status/1386393887749541889
2/
"Degen" culture is sometimes glorified on CT. But we're always risking that things may not work the way we expect or want them to.
"Degen" culture is sometimes glorified on CT. But we're always risking that things may not work the way we expect or want them to.
3/
- Smart-contract risk
- Weak tokenomic design
- Slow adoption
- Rug pulls
- Regulatory constraints
- Markets are just plain nuts
NOT implying Terra necessarily has or will face this. I'm just rambling the basic checklist of what you should always consider in #crypto
- Smart-contract risk
- Weak tokenomic design
- Slow adoption
- Rug pulls
- Regulatory constraints
- Markets are just plain nuts
NOT implying Terra necessarily has or will face this. I'm just rambling the basic checklist of what you should always consider in #crypto
4/
Also @_0x_larry's COLLEAGUES are @Delphi_Digital Ventures, et al (who are long $LUNA $ANC)
So don't just write him off as some rando on CT
He's likely more equipped to understand nuances than most of us
🔗
🔗
Also @_0x_larry's COLLEAGUES are @Delphi_Digital Ventures, et al (who are long $LUNA $ANC)
So don't just write him off as some rando on CT
He's likely more equipped to understand nuances than most of us
🔗
https://twitter.com/chainthinking/status/1386262020664610816?s=19
🔗
https://twitter.com/chainthinking/status/1385873839054155779?s=19
5/
There are some points I can offer as a counter
- Based on what I've seen in Discord & AMAs I believe the team (including @d0h0k1, @3william5chen & others) is well aware of some of the risks he mentions
There are some points I can offer as a counter
- Based on what I've seen in Discord & AMAs I believe the team (including @d0h0k1, @3william5chen & others) is well aware of some of the risks he mentions
6/
- the rates of borrowers fluctuates (like all lending protocols). The 4.6% Compound rate mentioned in also varies
One can maybe argue that the $ANC incentives - which are programmed to encourage more borrowing - just haven't kicked in yet
- the rates of borrowers fluctuates (like all lending protocols). The 4.6% Compound rate mentioned in also varies
One can maybe argue that the $ANC incentives - which are programmed to encourage more borrowing - just haven't kicked in yet
https://twitter.com/_0x_larry/status/1386393894716207110?s=19
7/
Remember
- it's designed so lenders earn a stable 20% (FYI your #TradFi savings accounts funds are lent out too), but
- borrowers still face fluctuating rates (the interest owed on borrowed funds & interest incentives received to encourage borrowing) in @anchor_protocol $ANC
Remember
- it's designed so lenders earn a stable 20% (FYI your #TradFi savings accounts funds are lent out too), but
- borrowers still face fluctuating rates (the interest owed on borrowed funds & interest incentives received to encourage borrowing) in @anchor_protocol $ANC
8/
As for creating resilient & sustainable #DeFi tokenomic incentives - this is a legitimate concern for all projects. Idk if anyone has the "right formula" or total confidence of what works long-term because it's such a new field
Btw @lisajytan literally wrote a book about it!
As for creating resilient & sustainable #DeFi tokenomic incentives - this is a legitimate concern for all projects. Idk if anyone has the "right formula" or total confidence of what works long-term because it's such a new field
Btw @lisajytan literally wrote a book about it!
9/
Also here's an updated take on future plans for @mirror_protocol $MIR 👍
Also here's an updated take on future plans for @mirror_protocol $MIR 👍
https://twitter.com/_0x_larry/status/1386422170201509895?s=20
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