1/ been meaning to type up my thoughts from @EthCC but its so convoluted so i've been pushing it off
but now its getting to the point of irrelevancy lol, so im just going to post them ad-hoc & unorganized
biggest takeaway is ive gone even DEEPER down the crypto rabbit hole
2/ ive always thought there are stages of people's realization of what crypto was, changing as they went deeper down the rabbit hole:
1. crypto is an asset to flip for $ 2. tech to hold and send money easily 3. a platform to build anything 4. a movement of decentralization
3/ at each stage, people's infatuation with crypto grew deeper
soon it became less about the money and more about the utility, then less about the utility and more about the ethos and vision
and lastly on stage 4, it became about the people and the community
4/ at ethcc I had the chance to watch @owocki's talk about coordination + i got to speak with a lot of @TheDAOist_ attendees about the ideas he brought up
and a lightbulb went off: there was a stage 5
crypto is all about coordination
5/ crypto was never just about money
it was about removing the notion of having to TRUST other people in order to coordination and collaboration - even in something as high stakes as moving money
Vitalik solidified this idea for me in the first slide of his ethcc talk
6/ Ethereum has always been about TRUST MINIMIZATION and EXPERIMENTATION of new ways of - literally - everything
Crypto has been one large experiment of coordination; one big question of "what systems can we design with a built-in economic layer that doesn't rely on trust?"
7/ When I put this idea together, I realized that all the amazing things that are happening in crypto makes sense
It makes sense why DeFi protocols are rivaling their Web2 counterparts with a superior product + orders of magnitude of less staff
8/ It makes sense why thousands of online strangers can come together for a common cause in a DAO, or why anons can deploy millions of dollars of capital w/o hierarchy or govt controls
despite what human sociology tells us we can't do (h/t @owocki for the slide from his prezzie)
9/ it's because of crypto's built-in economic layer
a subtle way to making the extrinsic, intrinsic
i WANT to volunteer for this cause, i WANT to discuss a governance proposal for hours with complete strangers
because i get PAID to do so, but not from any central party
10/ that's why DAOs are so amazing and fun. you turn your hobby/interest into a community of motivated frens
that's why NFTs are so beautiful. you can directly pay an artist, and share the art with a community in a digitally native way
its all coordination
11/ guys - this framing has only HEIGHTENED my passion for this space, if that were even possible
we can solve the huge problems with this new coordination tool:
+ tragedy of the commons like global warming
+ funding public goods through retro funding
2/ First growing pain: getting voter active participation
some DAOs' progress grinded to a halt due to voter apathy - something that's endemic in any pure democracy (see: Ancient Greece, modern day Switzerland)
1/ ETHcc takeaway #2: NFTs and DeFi are rapidly colliding together
NFTs have seen a resurgence since its peak earlier this year led by new pfp projects like BAYC, generative art like @artblocks_io, 1/1s like @Ghxsts
And I don't need to restate the crazy punk pump today lol
2/ Now NFT holders are facing the same problems that early crypto holders xp'd, esp those who have a big portion of their net worth in digital assets:
+ how do i get liquidity for my holdings
+ how get i get value generated from my NFTs
that's where the power of defi comes in
3/ liquidity
NFTs are illiquid assets. @nftx and @NiftyMuseum created pools that basically tokenized NFTs 4 easier buying selling + swapping
@genie_xyz takes it 1 step further: an aggregator for NFTs, routing to any liquidity source - even os or fnd - for the best order fill
2/ For context, there are 9 1/1 Cool Cats that exist โ of which 7 are already owned by existing cat holders
Of the two that aren't released yet (the devil cat, and the golden lucky cat), the Cool Cats team will give them away to the community
3/ These cats fetch the prize of 50+ ETH. Winning 1 would be life-changing for some (me)
I put together a proposal that could simultaneously:
+ give some1 life-changing money
+ ensure the lucky cat is a focal point of the community
+ make sure the cat has exposure to the world
1/ Hasn't even been 24 hours since @FameLadySquad finished minting + weve already hit so many milestones:
โ 310K ETH traded - good for #3 in daily vol behind BAYC & punks ๐ฑ
โ my favorite metric: >2K unique owners of the ladies!!
โ floor of 0.15ETH: 3x of mint price ๐คฏ
2/ Let's double click on the floor: ladies were trading at .038 ETH this morning, slightly below mint price
floor hit a switch when @garyvee made a guest appearance in the Discord and proceeded to buy a bunch of ladies...