ELI5 Perpetual Tranche $SPOT

Highlights, Preamble, and 🧵:

7: Systems
15: Rotate
30: Yield & Incentives
40: Our Yield in web2
47: Bicycle for the Brain
52: k% Ego Inflation & a dog named SPOT
68: k% Game
80: k% Bridge

When I began writing some days ago, I had no idea this would turn out like this. Nor do I intend to write a thread this long again

But after several ELI5 requests, justice had to be done

The work took me on a journey to a future in which I could finally have a dog of my own...

and then it all clicked

Dogs r our best friends

The Perpetual Tranche $SPOT

How does a 𝗕𝗲𝗻𝘇𝗲𝗻𝗲 ring structure attain stability?

𝘼𝙧𝙤𝙢𝙖𝙩𝙞𝙘 𝙍𝙚𝙨𝙤𝙣𝙖𝙣𝙘𝙚

A "cyclohexatriene" was first proposed by August Kekulé, who drew inspiration from the Ouroboros

Stability through "Instability"

🧵 The ring is portrayed with alternating single & double bond configurations. There are various illustrations

Each Carbon atom contains one electron in its pi orbital, which is delocalized throughout the ring

The resonant structure is an "average" of the different configurations

@AmpleforthOrg @ButtonDeFi recently launched spot.cash.

The censorship-resistant AMPL-SPOT system minimizes Risk, transparently. This is the Risk of Runnability, Insolvency, and Inflation.

The first of its kind.

On Risk Minimization and Free Energy 🧵 Risk is Uncertainty. And Uncertainty is Entropy.

In the material world of physical particles, we see this with every passing moment...e.g., as ice melts into water.

In general, things have a tendency to disorganize as a function of time.