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Dennison Profile picture
@DennisonBertram
Nov 20 • 2 tweets • 1 min read • Read on X
Okay, a lot of hullaballoo about this legal ruling, but no need to panic just yet.

A U.S. federal court ruled that Lido DAO may be treated as a general partnership under California law, potentially exposing token holders and key investors to legal liability. What does this mean for DAOs? Let’s break it down. 🧵
BTW: a previously version of this tweet erroneously said the Judge found the team liable, which isn't true. The judge merely said the case can proceed.

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More from @DennisonBertram

Dennison Profile picture
Jun 29, 2023
How do we make account abstraction work? Everywhere. Cheaply.

Well, @tallyxyz and @LimeChainHQ are building a proof of concept that is going to blow your mind.

The pitch:
Universal Account Abstraction with zero setup for users and near zero additional fees for relayers.

🧵
At @tallyxyz we started building relayers for delegations and voting, and realized that building universal AA is expensive and bad UX.

But there is another impediment, it's opinionated and difficult to implement.

You need relaying infra on every network.
You need complex logic on every network. Every AA enabled tx has an onchain validation and verification step that both costs gas, needs to be implemented in on every network, is customs, and relayers need to manage liquidity everywhere.

Complex. Capital inefficient. Siloed.
Read 9 tweets
Dennison Profile picture
Oct 28, 2022
New theory:

As more and more L1s role out, EVM compatibility will become:

A) less important
B) a negative signal

Why such a radical change of opinion? When I previously thought EVM compatibility was critical for a blockchain success?

A mini thread-
Previously I believed you needed to have EVM compatibility to make inroads in the blockchain developer community. No one has time to learn new coding languages, especially exotic ones.

I think that *was* true, but something changed.
Prior to the most recent bull run, developer talent was relatively scarce compared to other industries.

L1s competed for a small pool of devs, and onboarding new devs was a massive chore: you had to win them away from other non-crypto “shiny new things”
Read 15 tweets
Dennison Profile picture
Jun 10, 2022
A quick thread on how I think you capture @gnosisSafe.

(This is a hot-take so, please, get fired up in the comments, but keep it civil)

Short answer: you silo the future.

Curious?

A 🧵...
Part 1: The future

On the blockchain, the Meme pool is public everyone can see all future possible transactions and the miners order them in the consensus process.

With Gnosis safe, before transactions go onchain, signers coordinate and send them to the @gnosis tx service...
Part 2: TX Service

The easiest way to use a multisig is to collect all the parties signatures and put them onchain together at the same time. A service is necessary to hold these signatures while you're calling your friend to also sign.

Today, @gnosisSafe runs this service.
Read 13 tweets
Dennison Profile picture
Jun 10, 2022
Seems hard to imagine we don't find the bottom in that gray box... Image
Looks like we're already on our way....
Update: Image
Read 4 tweets
Dennison Profile picture
Aug 8, 2021
I don't really agree with this piece and I don't think that VC heavy governances are automatically a bad thing. Not every project is a Yearn. A bunch of rich people who collaborate together in a decentralized way, are still people who want to collaborate in a decentralized way.
Them being rich and having outside influence on the thing they are collaborating on building, doesn't automatically make it bad. Some projects are bootstrapped from the ground up, some are bootstrapped from VC's. DeFi has plenty of options for everything in between.
This screen cap is in relation to a discussion on @compoundfinance yet- why does "project growth stalls" follow "governance created"? Compound is the most active governance on-chain in DeFi.

AND it has shown itself to regularly champion "the little guy" who contributes.
Read 4 tweets
Dennison Profile picture
Aug 2, 2021
I just got a great idea for a massive cost improvement on the L1.

Rather than passing in an JSON object on the smart contract, we pass in only IPFS hashes.

The Subgraph can load the IPFS hash which can include an arbiltrarilly large JSON object full of instructions.
What does this mean?

We can reduce the cost of L1 Message passing to Subgraph based Blockchains to an O(1) operation. Constant cost regardless of data message size!

Would be great if @ArweaveTeam could be indexed for deterministic data availability.

@Amxx @auryn_macmillan
@smpalladino
Read 6 tweets

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