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haonan Profile picture
@haonan
Oct 21 • 3 tweets • 1 min read • Read on X
global FX flows like a river. capital is in constant search for the path of least resistance

a single pebble upstream can alter the entire flow downstream

stablecoins are about to carve out a new channel that will seem obvious in retrospect Image
longer piece examining the history, previous "pebbles" coming tomorrow

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More from @haonan

haonan Profile picture
May 24, 2023
crypto today has a heavy chandelier problem Image
half a century ago, at the height of soviet prestige, central planners in moscow grappled with the problem of how to measure and incentivize rapid progress.
weight quickly emerged as an imperfect but practical measure of industrial output.

a steel mill’s performance can be measured by the tons of steel it produces.

target tons of output, incentivize factories to achieve the targets and the economy will grow.
Read 15 tweets
haonan Profile picture
Apr 26, 2022
1/ Optimism is building an airdrop machine

what does this mean? Thread below
2/ we believe the Uniswap style “one drop and done” airdrop should be abandoned in favor of a multi-round, iterated airdrop machine Image
3/ UNI’s approach was brilliant in 2020. But what big brains do in the beginning, smooth brains do in the end Image
Read 18 tweets

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