🧵Nerding out on $DIEM valuation...

$VVV and $DIEM form what I believe is a novel token mechanism: a range-bound asset (DIEM) minted from and melting back into an underlying non-range-bound token (VVV)

$VVV's price can go anywhere, but $DIEM's should not; it should exist within a "range". Why is that, and what is this range?

Background:
venice.ai/blog/7-days-to…

1/14 From a Venice product perspective, $VVV will become increasingly central to the app/platform itself, while $DIEM is distilled out to a narrow specific purpose within the platform (specifically, AI inference via API).

The impetus to create $DIEM was to a) make daily API capacity stable per user, and b) enable trading of the raw compute since many $VVV holders aren't also API users. $DIEM achieves both goals.

We're not aware of any other crypto asset with similar dynamics; perhaps this "perpetual license" concept can become a new primitive others can use?

2/14

Announcing Venice

Today, we launch private, permissionless AI for the purpose of unfettered civilizational advancement:

Full announcement:


@TryVenice

A thread...
1/17Venice.ai
moneyandstate.com/blog/the-separ… is similar to @OpenAI's ChatGPT, @Grok or
@AnthropicAI's Claude, but w/o all the Orwellian stuff.

• Venice doesn’t spy on you

• Venice doesn’t censor your conversation

• Venice doesn’t inject bias, safetyism, or political propaganda

2/17 Venice.ai

A bunch of y'all didn't like this tweet. "Censorship!!" "Centralization!" Let's unpack...

Uniswap is two things: 1) a web interface and 2) a decentralized protocol (the DEX)

The interface is run by a centralized company in Brooklyn.

The DEX is decentralized/permissionless

1/

https://twitter.com/ErikVoorhees/status/1686569733150441472

The centralized web interface has delisted multiple assets (most recently, HEX).

The decentralized protocol, however, has not. You can still buy HEX on the protocol (but you shouldn't because it's retarded)

Is it "censorship" for the central company to remove from web UI?

2/

Well, I hear Yanis' sincere plea to do away with market-based money.

I'll quote several of his key points and address them...

🧵

1) "Under capitalism there can be no crypto money replacing fiat money."

https://twitter.com/CBarraford/status/1599199791921389568

1a Yanis begins upon a foundation of sophistry.

He claims capitalism requires fiat: demonstrably false considering modern fiat money only began in 1971 (prior it was gold). I believe capitalism existed (indeed thrived) for at least 250 years in US prior to 1971.

Today, we announced that ShapeShift is decentralizing.

Unorthodox, but it is the only way to maintain fidelity to the most important principles of crypto; specifically, self-sovereignty over money.

Without that principle upheld, we’re all just LARP’ing.

A thread… ShapeShift has been a centralized company for 7 years.

We pioneered the self-custody revolution, enabling people to trade assets without counter-party risk.

It has always been our goal to protect users, while making self-custody easy and fun.

1/ Thoughts on Libra (and my first tweetstorm!): first, zoom out for a second and realize how far this industry has come. The biggest companies in the world are now launching cryptocurrencies. BOOM. 2/ I know, I know, “it’s not a cryptocurrency!!!” some will yell. Well, yes and no. Relative to PayPal or to the US dollar, Libra is very much a cryptocurrency. Relative to Bitcoin or ZCash or DAI, Libra is not all that crypto-y.