🧵on the lay of the modular blockchain land for @scribeDAO
TL:DR; Blockchains have now become composable removing the need for a singular chain to tackle the Blockchain trilemma, rather a variety of chains can specialize and work together as modules to provide the best solution
This article discusses the three main components of blockchains, and how now a variety of chains can specialize and come together to more efficiently tackle the trilemma
A gross oversimplification, but you can bucket a blockchain into 3 main functionalities
Execution
Security
Data Availability
A singular blockchain having to complete all three is what leads to the trilemma, but they can be split apart
1⃣ Execution
We can have execution exclusive layers solely focused on throughput
Rollups are the best example of this, with ORs like A1
However, we are fast improving even here with EVM compatible volitions like zkSync 2.0 and StarkNet v1 that will reduce tx fees to ~$.0X
2⃣ Security
Here we can rely upon our ultra secure L1s ETH and BTC
Other L1s have unfortunately made sacrifices here to security/decentralization to achieve scalability
And unless BTC adds verification capability to zk-SN(T)ARKs, even they cannot compete with ETH here
3⃣ Data Availability
ETH 2.0 also has a great roadmap here with sharded chains, but is not close to completion
In the meantime validiums and volitions can create separate data availability layers by committing compressed tx data while maintaining ETHs security capabilities
4⃣ Conclusion
It's clear that concept of composabilty is now being extended to blockchains. The efficiency of specialization should narrow the aperture for new blockchains to focus on execution, security, or data availability. There's no need to do it all
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I know a lot of Templars have a variety of viewpoints on how Temple is going to be revolutionary, but wanted to give my own two cents
1⃣ General Narrative
In the early days, of which unfortunately I did not partake, making trades on ETH was relatively inexpensive. $300 ETH meant maybe you were paying at most $30 for at trade, but now that ETH is at $3000 you're paying $300
Well that's a problem
1⃣ con
For one in creates a barrier to entry into the ecosystem for new participants.
How can I possibly justify an investment where 10-20% of my trade evaporates into gas cost?
Even if I'm already in the ecosystem there's a significant disincentive for me to participate
TL:DR; Nation-states are built upon the manipulation of individuals by nationalism into sacrifice for nothing in return, however, the advent of DAOs represent a new social model of belonging built on symbiosis rather than predation
This is a thought provoking piece considering the archaic nation-state and how its deterioration is a result of social models evolving bringing people together for a common cause rather than a shared sense of identity (nation, ethnicity, etc.)
TL:DR; TempleDAO is creating the middle ground between insanely speculative tokens and stablecoins by providing a safe haven that reduces volatility, but still provides significant yield on your assets
As always this is NOT FINANCIAL ADVICE, but rather my OWN OPINIONS on TempleDAO and the brilliance of what they're trying to achieve.
I recommend all to DYOR by following their twitter @templedao, joining their discord, and reading their medium posts etc.
🅰️Problem statement
You can broadly sort crypto assets into two buckets
Protocol tokens and stablecoins (e.g. TOKE and USDC)
These two extremes represent for the former an extremely volatile asset and the latter an asset that, pegged to USD, loses real value every year
🧵On composability and its value in DeFi for @scribeDAO
TL:DR; Composability allows for the integration of multiple protocols into increasingly innovative and complex products
I noticed a lot of people throw the word composability around a lot, and non-crypto natives probably don't know what that means and why its important especially considering the rise of L2s
I'll try my best to explain the issue in the next few tweets
1⃣ What is composability?
The capability for applications and protocols to leverage each others code in a permissionless manner creating synergistic effects
Essentially one can pick and choose DeFi apps to amalgamate forming brand new financial products
🧵On the importance of community and the pitfalls of progressive decentralization for @scribeDAO
TL:DR; Protocols should focus on building a fiercely loyal community first and let product-market fit come later organically through co-design with stakeholders
Unfortunately I cannot find the original author on twitter, but if anyone knows him/her/they please tag below!
1⃣ Pursuance of product market fit
Crypto can seem analogous to startups and thereby the focus of protocols tends to default to product-market fit as they progressively decentralize over time
Thus protocols sometimes focus on building for the community and not with them
TL:DR; TokeMak solves for misaligned incentives within LM through providing sustainable liquidity to DeFi by means of an aggregation of LP rewards and the deployment of those rewards by the protocols LDs
As always; this is NOT FINANCIAL ADVICE. This only reflects my own synthesis and understanding of previous work by @Archer_MD_ , @LiquidityWizard , and the team at @TokenReactor.
If I misrepresent anything please feel free to correct me
🅰️ Problem Statement
The demand for liquidity is easily observed throughout the crypto ecosystem. People want to swap between different tokens on varying L1s and L2s and experience/use a variety of protocols
Protocols want liquidity to bring value and usage to their product