Wangarian Profile picture
Jul 5 8 tweets 4 min read
0/ Stoked to announce the launch of @tangent_xyz, a Web 3 angel collective designed to help founders navigate the crypto landscape.

The premise: A personal board of advisors for founders looking to build crypto solutions for tomorrow's problems.
1/ @mrjasonchoi and I realized that whilst many innovations have popped up across DeFi, investing was still largely driven using TradFi models.

Re-thinking this from first principles, we wanted to combine the best of what Web 3 has to offer with investing structures from Web 2
2/ We're working with 6 excellent Mentors who are deeply knowledgeable in their respective verticals:

- @gabusch (YGG)
- @samkazemian (Frax)
- @Mable_Jiang (StepN)
- @tascha_panpan (Alpha Venture DAO)
- @0xMaki (LayerZero)
- @statelayer (Sudoswap)
3/ As an angel collective, we're adopting the following structure:
- Permanent Capital: No external AUM, no fees and no carry
- Small Checks: A maximum of 3% of your token/equity
- High Conviction: Up to 5 protocols per quarter
- Hands-on Help: A bespoke program for every PortCo
4/ From our time growing 2 of Asia's largest crypto funds, we've realized that building in Web 3 is vastly different from Web 2. Having the appropriate network & expertise to tackle Web 3 specific pitfalls is crucial for long-term success.
5/ We hope to work side-by-side with founders and provide them to guidance needed to navigate these waters.

Specifically, our mentors are uniquely positioned to offer advice with excellent coverage across crypto and consumer facing applications globally.
6/ @mrjasonchoi provides a great response to common FAQs on what @tangent_xyz is and how it differs from existing investing archetypes here:
7/ If you're a pre-seed / seed founder looking to raise capital, we'd love to take a look at what you're building and see how we can help:…

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More from @0xWangarian

Jun 6
1/ VCs selling their unlocks in a bear market is a symptom, not the cause of misaligned market incentives.

Who sells what or when is irrelevant IMO. Every token deal (seed or later) is a contractual obligation between protocol and investor for capital (and capital alone).
2/ Value add from the investor is optional. It can come in the form of advisory, research, marketing etc.

I would hands down prefer an investor that fights side by side with me during the crucial early period, knowing they will realise profit after the agreement is over...
3/ As opposed to a VC that gives me capital, does absolutely nothing during the entire period and then never sells unlocks. I've seen some VCs that don't even know how to sell their tokens (says a lot about their industry knowledge)
Read 8 tweets
Mar 18
Reflections from a Crypto Analyst

It's been ~18 months since @Arthur_0x pulled me into the crypto rabbithole. Since then, I've had the best experience any analyst could ask for, learning and growing under the DeFiance/3AC umbrella.

A quick thread with some personal news below~
1/ Crypto as a Career

In 2020, we were on the cusp of a new technological revolution. Back then, DeFi had just exploded onto the scene and we had yet to witness the rise of NFTs

2/ Today, I'm more optimistic than ever on the LT prospects of crypto as an asset class. No longer are we a nascent experimental industry.

In 2 short years we have morphed into the most promising avenue for the brightest minds of our generation.
Read 14 tweets
Dec 5, 2021
0/ Been thinking about the GameFi market structure quite a bit over the past few weeks. Some thoughts below:
- Games inherently do not last long. There are exceptions to the rule, but when devs stop producing content for games, eventually each game has a capped lifecycle.
- They way games are incrementally monetized are via sequels and hopefully franchises (think Halo / CoD / Fifa etc). This means that individual tokens structured within specific games will be hard pressed to capture upside from future sequels (they will have their own token)
- Games are also heavily social time sinks that allow friends to connect with one another virtually. Playing tgt with irl friends will likely be stronger than ever in this new gaming industry.

How do these takeaways influence my decisions as an investor?
Read 9 tweets
Oct 12, 2021
0/ For the past few months, the Alpha Launchpad has been quietly providing immense value to $ALPHA stakers. Just because you don't see immediate high APYs, doesn't mean your capital is idle.

Quick thread on why numba go up is not the only way to win in crypto.
1/ Alpha Staking

Quick recap, $ALPHA staking automatically makes you eligible for all airdrops from protocols being incubated in the Alpha Launchpad.

On top of that, stakers are paid a portion of all the fees ever earnt from Alpha products.

2/ Beta Finance

The first Alpha Launchpad incubated project @beta_finance has just gone live and at current vals,
every $1000 of ALPHA staked will earn you ~$640, for a 64% yield on the FIRST project being launched.

All you have to do is stake ALPHA until Feb 2022.
Read 7 tweets
Sep 16, 2021
1/ Couple of quick stats on the Avax ecosystem:

- TVL has just peaked ATH at $2.6b since the parabolic run-up when Avalanche Rush was announced
- TVL has increased ~10x since the announcement and continues to climb.
2/ Bridge inflows:

- Over the past 30 days, there's been $1.35b net inflows from the ETH bridge
- 20 of the 30 days have recorded net inflows
- Last 7 days have recorded inflows > outflows leading up to Avalanche Rush
3/ DEX flows:

- Trader Joe continues to remain the dominant DEX after surpassing Pangolin earlier this month.
- Trader Joe past 7D Volume: $1.1b
- Trader Joe TVL: $618m
- Pangolin past 7D Volume: $685m
- Pangolin TVL: $376m
Read 4 tweets
May 10, 2021
0/ Tokenomic Design Explorations

Since the inception of crypto-assets, tokenomics have been a fresh attempt at designing asset ownership instruments from first principles.

However, we're just scratching the surface. A thread on how tokenomics can develop in a xchain world
1/ Recap

Currently, tokens are used primarily as a growth marketing tool. Via liquidity mining, protocols spend 'equity' in return for bootstrapping initial adoption.

This has been wildly successful, with Compound's LM event kickstarting the original DeFi Summer last year.
2/ Since then, LM programs have been the bread & butter growth hacking mechanism for new protocols.
However designing LM programs are extremely tricky.

Give away too much, and you'll have little left in the tank for the future. Too little, and competitors will overshadow you.
Read 12 tweets

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