but assuming worst-case scenario (US chases down devs for building non-compliant products), we go anon, deploy on IPFS, use mixers and build more privacy tech.
DeFi is kinda either corporate-funded VC bullshit or scammy shit-tier rip-offs for the most part
but all of crypto started w a bunch of anarchist cypherpunks and gained adoption first w drug dealers
I for one wouldn't mind seeing a sort of return to those roots and values
building crypto stuff in a way that allows for regulation or censorship completely undermines the whole point
but most people don't seem to remember that, industry has gotten lazy and comfortable imo
feels weird to be saying this, I wasn't even around early
but the early foundations are why I'm passionate about crypto as a whole, if it was just another asset class to trade I wouldn't give a shit what happened to it.
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Need to explain crypto/defi terms to your grandma?
Here's a handy list of crypto-native terms with a 1-tweet ELI5 explainer for each.
Bookmark the thread and if you want something added, just ask!
1/n... oh God there's gonna be so many
Smart contract:
Think of it as a computer program that does one specific thing, and it's always running, just waiting for you to send some basic instructions.
dApp:
One or more smart contracts bundled together in the same place. They can be more complex than a single smart contract, but they usually have a user interface to help you send the right instructions to each smart contract
ok didn't really come up with a singular thread topic so I'm just gonna stitch together some of the q&a from people and shit in a rambling, disjointed mess of a post below, enjoy (or don't, idgaf)
thread about farming aka liquidity mining as an incentive model and why it's completely broken but nobody seems to realize it (skip to #17 if you're already intimately familiar w AMMs)
v long and nerdy, fair warning
1/n
2/n
farming was designed as an incentive for users to provide a service: using their own capital to provide liquidity to an AMM pool
AMMs were created to solve the problem of high latency/settlement times for transactions on ethereum.
3/n
while a ~15s transaction time doesn't seem v long, if you attempt to make a market on a 15s delay, you'd be forced to keep your spreads incredibly wide in order not to offer prices that become bad before you can update them, especially during volatile periods