Consider two types of gamers: 1. The Consumer: players who play for the love of the game. 2. The Farmer: players who play to earn.
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As with any business, the goal of games and their devs is to maximize profit.
For a game to do well in the long-run, you need Consumers spending > Farmers earning.
Anything else is unsustainable since the deficit is paid for out of the coffers of a Game's finite treasury.
Jan 20, 2022 • 12 tweets • 3 min read
Crypto investors experience mind-boggling gains in very short periods of time. Here’re some of my favourite bits from Howard Marks’ latest memo, “Selling Out”, where he provides a simple framework on when to sell.
1. "When you find an investment with the potential to compound over a long period, one of the hardest things is to be patient … When you look at something that’s gone [Up Only] for 20 years, think about all the times a holder would have had to convince himself not to sell."
Sep 18, 2021 • 15 tweets • 4 min read
It’s been slightly over a month since BitDAO raised almost $400M via a public sale (Dutch auction) of its BIT token on MISO. Today, BIT trades at $16.5bn FDV.
Here’s a quick comparison between BIT and FTT which currently trades at $23bn FDV. 🧵1/x
Their value propositions are similar: the tokens benefits from some form of fee-sharing with a centralized exchange.
I chose to exclude BNB here because it’s tricky to isolate BNB’s value due to BSC vs its fee-sharing mechanism with Binance.
2/x
Apr 10, 2021 • 22 tweets • 6 min read
So... "loans that pay themselves off" is a great meme but what actually goes on under the hood of @AlchemixFi ?
Weather was gloomy today so I spent my not-so-lovely Saturday afternoon writing a thread👇
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Alchemix is a platform to create synthetic assets backed by yield
In simple terms, the borrower gives up yield on his assets to borrow a certain amount of money today (on Alchemix, you can borrow up to 50% of your collateral value)
Summary: mint & Burn DAI in exchange for aDAI to stay within the Target Max Variable borrow rate of DAI in Aave Liquidity Pools
Benefits to Aave:
- More DAI for Aave borrowers (yay!)
- Lower borrow rates for Aave users
- Partnership with dominant decentralized stablecoin protocol
Given stablecoins pools are the most utilized pools on borrow/lend platforms, this will help Aave compete with Compound!
Feb 22, 2021 • 16 tweets • 3 min read
What is EIP-1559?
In short, it is a proposal which lays out a new way users bid for blockspace in Ethereum.
A summary 👇
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For those new to crypto, like me, EIP-1559 stands for "Ethereum Improvement Proposal #1559"
