It really annoys me, how nearly every G7 central bank chief thinks that consumer price inflation is transitory and pricing will restore once supply chains resolve.
Really?
When is the last time a business *lowered* a price you were already paying?
2/4
If a business had customers at a higher price, they won't lower it even if their costs go down.
Our financial policy is made by people who don't even remember what it is like to operate in the real world any more.
3/4
Its political games and ivory tower policy that is playing with the livelihood of everyday people.
Their decisions impact our mortgages. They impact the cost to put food on your families tables or the ever rising cost of that first home.
4/4
People need democratic control over apolitical financial policy.
If the system doesn't accommodate for that, then they can't be shocked when we push for things like DeFi.
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I'll take the opposite side in this debate, somewhat.
I think most DAO's today are nonsense larps not because of decentralization but because their participants don't have a clue about business, and the teams have no idea how to set up strong governance systems.
That said I believe DAO's are absolutely the future of this space and many projects are decentralized, but they've decentralized without the right systems in place to manage that and without the right knowledge.
3/16
Many large companies still think you can't work remotely nevermind in a decentralized fashion, but that simply isn't true.
I spent the last decade working for remote companies many of whom are some of the most effective operators in the space.
I love DyDx as a product, it shows the huge value that onchain perps are going to have. But, I think its overvalued compare to the upside potential of others in the space.
China's push on CEXs was a huge gift to the space, that while up large, I think is just starting.
2/22
Unlike a lot of projects DyDx's token is strictly governance. There will be no fee capture, no use case, no buy backs.
All the trade fees actually go to equity holders, and unlike some other systems these aren't variables in the contract that the DAO can vote to change
3/22
The $20B FDV puts it on par with FTX, which if it can continue to grow its volume and maintain this level of liquidity depth, may actually be only minimally over priced.
Feels like MKR, once a defi darling, has kind of had its days behind it.
We're seeing a pretty big shift that I think highlights really interesting lessons for defi projects.
2/21
$DAI won out by being novel, innovative and most importantly defining for the ecosystem. The $MKR team created the foundation tooling and standards for many of the practices we have in defi today.
3/21
But, as they've grown and further decentralized they've built great procedures for managing the existing DAO operations within a framework, but not for fostering innovation.
Which is a classic startup problem only amplified by unstructured systems.
So we don't know the exact details yet, but apparently the Treasury Department is expected to put up specific sanctions targeting crypto related to ransom payments...
Based on the snippets below the sanctions are expected to be focused, aimed at specific malpractice rather than something that is against the entire industry/asset class.
3/7
We don't know what those specific restrictions are, or who/what/why they are targeting, but the fact that they are specific and targeted, specifically to not cast a wide net is a HUGE improvement from the last kind of action we saw alluded to from the treasury.