๐น Joined the space 4 years ago when she was with @Fidelity
๐น Had to figure out which use cases to be prioritized
๐น Fell in love with the ecosystem
๐น Joined @blockchaincap
๐น Co-Founded @KomorebiFund, a DAO focused on investing in female & non-binary founders
๐น Bucket it into 2 categories:
1๏ธโฃ What can people do with NFTs?
2๏ธโฃ DAO landscape
๐น Unsure whether DAOs will go mainstream
๐น DAOs are opt-in communities; you get what you put in
๐น Trend is to have 1000s of small communities
๐น DAO onboarding is โฌ๏ธ challenging
๐น Accessibility exists on a spectrum. Some DAOs just require a purchase of the token while others have a higher barrier to entry
๐น Trying to figure out how to scale DAOs by doing experiments ๐งโ๐ฌ
๐น Unsure whether social scalability can be solved soon
๐น 50 years ago, career reputation was based on your resume and ppl vouching for you
๐น Today, freelancers have a portfolio of their contributions to various projects/DAOs
๐น This reputation is carried along with them wherever they go
๐น DAOs are thinking about monetizing content rather than putting it out for free
๐น Wrote a piece with @Cooopahtroopa about tokens representing ownership of a community
๐น When people contribute to DAOs, they are helping the value of the community go up
๐น Wrote a piece with Cooper Turley about the Rise of Micro-economies
๐น Popular concept from early 2000s where the internet enables a 1000 true fans that can create a sustainable biz for one person ๐จโ๐ฉโ๐ฆโ๐ฆ
๐น Fans feel attachment to a given cause or mission
@_kinjalbshah@chaserchapman@Fidelity@blockchaincap@KomorebiFund@Cooopahtroopa ๐น Starting to see such small communities scale when it comes to value creation
๐น Instead of organizing around geography or a LLC, people are organizing around a digital state/city where anybody can participate in ๐จโ๐ฉโ๐ฆโ๐ฆ๐
๐น Idea that people want to become influencers
๐น Only top 1% of them get to that point
๐น The rest belongs to the Creator Middle Class
๐น Evolving from wanting millions of followers to a small group of passionate followers
๐น Governance token price is determined by the market
๐น Strong token = strong hodlers
๐น Large DeFi DAOs have billions in treasuries
๐น What is critical is having something to govern and a strong community with conviction in the DAO ๐ช
๐น @kaiynne made a post differentiating the two
๐น Kinjal offered a slightly different framework:
1๏ธโฃ Financial health of a DAO
2๏ธโฃ Social health of a DAO
๐น Building products โก๏ธ financial health
๐น Building community โก๏ธ social health
@_kinjalbshah@chaserchapman@Fidelity@blockchaincap@KomorebiFund@Cooopahtroopa@kaiynne ๐น Doesn't think you can separate the two from each other
๐น More like a funnel/hierarchy where everything is governance, but not everyone should be deciding everything in governance
๐น Have to make sure to get the right person to make those decisions
๐น Different communities have different objectives, but still, there might be some standardization
๐น Still in the experimental phase and we would not know what's coming in the future
๐น Hype curve โก๏ธ things slowing down โก๏ธ infrastructure gets built โก๏ธ rising back up again
๐น Will differ across different types of DAOs
๐น DeFi DAOs have reached a level of maturity
๐น Expecting social tokens to be the next breakout category ๐
DAOs:
๐น Big missing piece is a DIY DApp that can integrate the entire tech stack in 5 - 10 mins and allow the user to user a bundle of tools and services
๐น Consolidating Discord, Telegram, Snapshot, and Discourse into one
๐น A wallet that is super accessible
๐น Progress is being made in this area, but there's still more infrastructure to come
๐น On the backend, one has to ask:
1๏ธโฃ Who is hosting the NFT?
2๏ธโฃ Who is owning the IP?
3๏ธโฃ What does the price history look like
๐น Many valid points of view. Heard from a few founders that they pick one path and then double down on it
๐น Concerning the former, it's about making sure that users are not confused and can purchase things easily
@_kinjalbshah@chaserchapman@Fidelity@blockchaincap@KomorebiFund@Cooopahtroopa@kaiynne ๐น Concerning the latter, it is okay for your product to be more clunky or make your users jump through more hoops. The user is willing and excited to appreciate the nuances of what you are building in crypto
๐น Both approaches are valid. Important to know which you are choosing
Beanstalk is a decentralized credit-based stablecoin protocol and we're going to focus exclusively on the dynamic peg mechanism of @BeanstalkFarms.
How does the stablecoin $BEAN maintain its price? To understand that, we have to talk about riding a bicycle ๐ฒ
@BeanstalkFarms When you're riding a bicycle ๐ฒ, you're never really in a balance all the time. You're always making adjustments like tilting the handle and shifting your body weight. An experienced rider will make these adjustments subconsciously and the bicycle appears to be balanced.
@BeanstalkFarms But it is really just these 3 steps repeated continuously:
1โฃ Bicycle tilts to one side
2โฃ Make adjustments to tilt it back
3โฃ Balanced for a short while
๐ฎ Came into the space in 2014
๐ฎ Wrote a paper on the use of cryptocurrency and blockchain technology to fix problems in foreign aid ๐ฉน
๐ฎ Got an award from the Global Development Network - Bill and Melinda Gates Foundation
๐ฎ President of Blockchain in Gala Games
๐ฉน Working as an academic consultant
๐ฉน Saw a call for papers for the Global Development Network
๐ฉน Before that, had done work in foreign aid at post-earthquake Haiti & Peru
๐ฉน Used blockchain technology in the essay
๐ฉน Received a call from them after a few months
โ๏ธ Blockchain operates as a single unified network, providing the same standard of service
โ๏ธ Chainlink is a heterogeneous network. Millions of independent Oracle networks can run in parallel, each having their own cryptoeconomic security
@ChainLinkGod@Crypto___Oracle@chainlink โ๏ธ Chainlink provides consensus about the subjective external world ๐
โ๏ธ Chainlink Oracle networks are highly customizable
1๏ธโฃ Different data types
2๏ธโฃ Some have a couple of sources vs others which have a lot of sources
3๏ธโฃ Some may be paid APIs while others are publicly available
๐น How do we use cryptocurrency to financially incentivize a group of independent entities to work together? ๐ค
๐น Not just about work done, but to have financial incentives that are high enough to avoid various types of attacks
Here's the pod summary from @coingecko podcast where the host Benjamin (@NeBB399) interviewed Brandon Millman (@BChillman), CEO of @phantom. Phantom wallet is a user-first crypto wallet based in the Solana blockchain. Read on ๐ to learn why Phantom is so popular with users.
๐ธ CEO and co-founder of Phantom Wallet
๐ธ Launched around Apr 2021
๐ธ Formally an engineering leader at @0xProject
๐ธ Before that, he was the senior engineer at Twitter
๐ธ Disillusioned with his work at big tech companies
๐ธ Decided to join a nascent ๐ถ industry, like Ethereum
๐ธ Initially wanted to get into the consumer app side but realised infrastructure is not ready to support it, and ended up at 0x
Join us as we share the pod summary from @gabrielhaines featuring Andrew Thurman. @Blockanalia worked for Chainlink before becoming a journalist at Cointelegraph and CoinDesk. Read on more as he shares what life is like as a crypto-journalist.
๐ธ Masters in Creative Nonfiction, also taught journalism
๐ธ Starting investing in 2017 top
๐ธ Started a business on @chainlink ecosystem, building the framework to allow node operators to work efficiently with data providers on a data call billing model
@gabrielhaines@Blockanalia@chainlink ๐ธ Chainlink invited them to present at Web3 in Berlin in 2019
๐ธ Co-founded a smart contract data marketplace which becomes the Oracle Network API3
๐ธ One of his first calls was with @bobbyong from @coingecko