Crypto should actually be criticized more, it’s just still unpopular to do so in a serious way. We’ve spent 100s of billions of dollars and the most successful DeFi applications would salivate for 5k daily active users. The most highly regarded investment firms funded the biggest

https://twitter.com/0xballoonlover/status/1746988901779001604

fraud since Enron last year. A generous view would be that 5% of defi is serving to bank the unbanked, the overwhelming majority is passing around tokens conjured from thin air. No one actually knows if this stuff is useful because the people using it are there to collect these

Vitalik , Hayden, and Justin Drake were walking one day when they noticed a $100 bill on the sidewalk. Vitalik picked it up and said, “we should use this to build public goods and core infrastructure.” Hayden nodded his head, “agreed, we can put this money to good use.” Justin Drake smiled and asked Vitalik for the bill. Vitalik obliged. “See that homeless man down there,” he gestured roughly 50 yards down the sidewalk to a homeless man with a sign and a little hat with a few dollar bills and some change in it, “watch this.” They walked over

If you design a system where the people with the most stake enforce the rules AND there is an incentive for that stake to consolidate but you didn’t want that stake to consolidate, then you designed the rules wrong. If that stake consolidates then the group of participants in that system are clearly ok with that because if they weren’t, they wouldn’t have let that stake consolidate. If you were expecting the social layer to step up and not let that stake consolidate but then they let that stake consolidate, that *is* the social layer. The social

Aragon is yet another reminder that absolutely nothing novel or exceptionally valuable has ever come from a DAO*. In fact, it’s incredibly embarrassing that a DAO designed to aid in the development of other DAOs cannot even figure out how to properly structure itself as a DAO. I salute Arca and RFV for attempting a ~hostile takeover~. Until we have more of this, the charade will continue.

The blockchain helps us enforce contracts otherwise needing an intermediary which is why when Arca started buying ANT tokens the Aragon DAO or foundation

The realization that Ethereum protocol yield is likely to fall in the 2-3% range has led a large part of the community to wonder, “how can I get MORE yield and live an even MORE fulfilling life so I can spend time finding MORE yield?”

Let’s dig into EigenLayer

thread (🧵) 1/ We all know that staked ETH is the most pristine asset now and that it pays you a yield for all the HARD work you’re doing in securing the Ethereum blockchain. So why shouldn’t it secure other blockchains? And pay you more YIELD for doing so? Enter EigenLayer (EL)