4/ The current two-party political system has maximized political polarization to record levels in the US, forcing everyone into one of the parties
She argues that the values of #Web3 and Crypto may allow people to transcend existing political systems
5/ Parker states that all media tends to be biased today and to make your own opinion you have to consume information about the same stories and events from different sources (left-wing & right-wing)
Avoid group thinking!
A diverse information diet is the healthiest diet!
6/ Transparency, social mobilization, and an open financial system may allow for building different political communities within the current system, and they have the potential to transcend them
7/ Crypto economies are introducing fundamentally novel and innovative ways of doing governance that we have never seen before
Voting systems and completely unconventional governance mechanisms to how traditional institutions operate
8/ The DAO design space creates more dynamic forms of governance mechanisms to keep up with changing belief systems of people
Conviction voting allows staking your vote which gains more power over a set time period and then retracting it if you change your view
9/ @parkerjayp encourages not to be afraid of #DAO failures as there are big opportunities to put a lot more research documentation and experimentation into DAO governance
Learning from the mistakes of existing and failed DAOs will allow the whole space to progress faster
10/ The narrower the niche of the community, the stronger it is (the strongest subreddits are very niche)
Focusing on a specific thing helps attract the most intrinsically motivated participants
Be open about how to interact with the community and opportunities for members
11/ @parkerjayp points to token-based governance as one of the challenges of DAOs, as it will lead to a corrupt system where the most financially resourceful accrue all power
Resulting in voting fatigue and low participation will lead to non-reflective decision-making
12/ She argues there is no one right way to do a DAO - for DAOs to succeed - the proliferation of diverse forms of governance need to be realized and experimented with
However, it is known the most consistent way communities dissipate is when members don't feel heard
13/ Parker points out that for the first time in history with these innovative forms of organization, different initiatives more quickly mobilize around a common goal or values
14/ "@Ukraine_DAO raised more money in the first week of it being formed than the UN did for humanitarian relief in Ukraine
It's insane!" - Parker points to the power that DAOs bring to the world
15/ @parkerjayp raises a question that exists within critical theory: Does culture shape law or does law shape culture?
She notes that direct engagement with community members and their problems resulted in better policy decisions as opposed to external institutional research
16/ See the full podcast episode:
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Weekly Alpha Leak 🚰 When it Rains, It Pours - 'Tis Exploit Season
Dates Covered: October 8-14, 2022
October isn’t even over and it’s already made DeFi history with hackers stealing $718M across 11 protocols.
👇🏼🧵
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💊 Top Bullets: $116M Mango Markets exploit, BNB Chain hard fork to reverse $100M hack, Matter Labs Ethereum Layer 3 scaling prototype, Polygon and Matter Labs zkEVM competition, Bank of New York Mellon to custody Bitcoin and ETH, Cosmos critical software vulnerability
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📊 Data Highlights: Smart money near ATH for how much of their holdings are in stables, Largest Smart Money Inflows this month into cETH, cDAI, followed by regular DAI, Largest Smart Money Outflows this month,
- A judge has partially denied a motion by Aptos Labs CEO Mohammed “Mo” Shaikh to dismiss a lawsuit filed by entrepreneur Shari Glazer, who claims to have been cheated out of equity as an early investor
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- J.P. Morgan and Visa are teaming up to streamline cross-border payments using their private blockchain networks, Liink and B2B Connect
- October becomes worst month in DeFi history as hackers steal $718M across 11 protocols
3/
👨⚖️ Government, Regulatory and Legal News:
- US crypto policy advocacy group Coin Center has filed a lawsuit against the Treasury Department’s Office of Foreign Asset Control (OFAC) over sanctioning cryptocurrency mixer Tornado Cash
You run into the problem of Data Availability (DA)
We break down what it is and how @CelestiaOrg is innovating the scalable data layer architecture
🧵👇
1/ TL;DR: Why should DA matter to you?
It comes down to cost - txn fees can get high during high-use periods
With chains becoming increasingly developed in the past several years, scaling has become a critical priority for networks buckling under increasing transaction volume
⁍Great spreads are attracting institutional money to crypto derivatives. Even though this is often the only crypto exposure they have, it’s a good start.
1/ ⁍The promise of regulatory clarity and better infrastructure is getting their attention though. Elwood Technologies is a new addition to the crypto derivatives space that’s bringing institutional grade derivatives trading infrastructure to these big Wall Street players.
⁍@jack thinks #Web3 has good intentions but is using the wrong tools to achieve its mission. So he’s building what he thinks we need and will be skipping right past Web4.