7/ This should go without saying but buying an NFT whether in a whole or fraction should not be considered an investment. Don't buy an NFT with money you can't afford to lose.
We're obviously in a bull market BE CAREFUL.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
A lot of misunderstanding around UNI tokens, the protocol and the company.
Hopefully this image helps clarify.
The Uniswap protocol exists on Ethereum, it exists independent of any "interface" you might use to access it. There are LOTS of interfaces.
The UNI token governs the protocol that lives on Ethereum.
Token holders vote on any changes to the protocol.
Token holders DO NOT control any of the interfaces.
In addition to the protocol referred to as "Uniswap", there is a company that helped start it called "Uniswap Labs", that company maintains one interface that you can use to access the protocol, it's hosted at app.uniswap.org/#/
❤️ PSA on crypto, taxes, and making donations (for USA people) ❤️
Donating in crypto is an amazing deal from a tax standpoint.. here are the reasons & how
1/ Say you bought 1 BTC at $5,000 you can donate that today and take a tax deduction for the current value of that BTC -- $19,000!
If you sold that BTC and gave away $19,000 in cash you would pay capital gains tax and lose a bunch of money.
2/ But you don't want to sell your BTC?
That's fine! You can just buy it back right away! This increases your cost basis which is also good for you. So donate 1 BTC, get $19,000 tax deduction and immediately buy one 1 BTC. Cost basis is now $19,000.
1/ Quick thoughts for crypto twitter on open vs. closed source. I'm the founder of @PoolTogether_ . I consider myself fairly technical but I'm not an engineer. I've also never worked on anything open source or built on crypto.
2/ I decided early on to keep @PoolTogether_ closed source. Didn't seem like a big deal to me and just made sense from a business perspective given the importance of economies of scale and the ease of copying the concept.
3/ I was not fully aware of all the implications of being closed source. Specifically around the lack of ability to verify the contracts. Thank you to the many people who pointed this out and educated me about this. We open sourcing the contracts today! :) ✅