To work, governance needs a clear and actionable scope
Ex: @CurveFinance governors control the $CRV allocation
Governances tend to fail when the scope is not properly defined
Ex: @MakerDAO governors voting on interest rates, yield strats, vision, etc.
🧵 Quickie thread 1/5 👇
Governance parameters also have a huge impact in fostering participation
On Curve, governance power is obtained only by locking CRV as veCRV
➡️ensures continued participation
➡️fosters 3rd party protocol alignement
➡️Protects against CRV lending-based gov. attacks
2/5 👇
Nov 12, 2022 • 9 tweets • 2 min read
Today, I want to share with you the top indicator that saved me from more than a dozen of hacks and dubious projects:
Having one person operating under a god complex in the founding team.
A thread as to why it's an issue, with examples pulled from #DeFi history👇
One person with a god complex means the project will go to 0. Why?
- Because errors and problems are not reported, who wants to anger God?
- Because some teams work on useless ideas, but they are God's wish
- Because God thinks he's omnipotent and rarely 2x-check himself
Oct 7, 2022 • 7 tweets • 6 min read
Liquity is full of arbitrage opportunities for those who understand the system
With the arrival of the Chicken Bonds, if you're confident there can be a significative impact on the peg long-term, you can take the short trade:
- Borrow LUSD and LP
- or borrow LUSD, sell and wait
It's a good time to be an LP, with the bribing campaign increasing the CRV allocated to the LUSD/3pool
Entering the LP single asset from LUSD also means a premium
It's been 2 two days since $LUSD @ChickenBonds have been released 🥳
The experiment nicely took off with >6M LUSD deposited across 364 🥚 eggs (-18 Chicken Outs 🍳)
We are still in the bootstrap period for 2 weeks after launch - a quick thread on what it entails 🧵👇️
During the bootstrap period, Chicken In is not possible ❌🐔
It means the $bLUSD supply is 0.
All the funds are in the Pending bucket, with the yield already redirected to the Reserve
The Reserve and Permanent will fill up once Chicken Ins are enabled 📆
Collateral-wise, if we assume all aTokens with LTV>0 will be used as collateral, it will be better than $DAI, but still $USDC heavy
Add to it governance & sole reliance on CL oracle
=> $GHO will have a weak censorship resistance
Aug 19, 2022 • 4 tweets • 2 min read
People getting pissed at @Uniswap for doing wtf the team want with their frontend, including implementing sanctions is insane to me
They did more than most #DeFi teams for censorship resistance by building the most widely used unstoppable protocol
Who cares about their front end?
Using a #DEX frontend is a bad habit and suboptimal anyway
To swap, using an aggregator secures better prices
{👋 @paraswap}
To LP, you get better and more actionable information on specialized services
{🙏 @revertfinance}
Mar 11, 2022 • 6 tweets • 2 min read
Une personne qui découvre la #crypto / #DeFi va généralement aller chassers des nouveaux projets via IDO, launchpad, etc.
Leur chance de trouver ceux pertinents sont proche de 0
Mais ils prendront généralement plusieurs claques avant d'arriver sur les fondamentaux
J'appelle ca le biais du "noob confiant" : Chercher l'upside maximal sans réaliser qu'avec 3 mois d'exp crypto, la compréhension du marché est 1/100 de celle de ceux qui trainent la depuis plusieurs années
Ils n'ont mathématiquement aucune chance, mais la tentent quand même
Feb 17, 2022 • 9 tweets • 8 min read
This year will be decisive for #DeFi: the ecosystem is reaching a certain maturity + the macro context offers leeway for crypto.
I have a few theses I wanted to share with you along with protocols that embody them perfectly.
🧵A thread 👇️
1 - #DeFi is offering a growing toolkit to hedge and protect oneself against inflation as we've never seen before
1.A - @reflexerfinance $RAI, a stablecoin freed from fiat currencies, on the path to maximizing decentralization and trustlessness
Aug 15, 2021 • 11 tweets • 7 min read
Si par un dimanche d'Août vous ne trouvez toujours pas le temps de vous éduquer sur la #DeFi et #Ethereum, quand le ferez-vous ?
Je vous propose donc une petite lecture guidée / sélection d'articles pour monter en compétence sur le sujet - 🧵 un thread 👇
Les marchés monétaires sont au centre de la #DeFi - ils permettent l'emprunt d'actifs et offrent des rendements parfois attractifs.
Mais comment évaluer leur sécurité ?
👉 L'article le plus complet & détaillé que vous trouverez en FR sur le sujet 👇
So far no #DeFi protocol is willing to incentivize $RAI
Why not put the $ where the mouth is & support alternative stable assets?
But Brice, $RAI is young and risky blah blah blah
Well, start the print and come break it then!
We would have learned something at least.
I'm confident it could handle the load and with this kind of support we could see a $RAI with >100M supply (with a few cap raises)
Mar 13, 2021 • 9 tweets • 5 min read
Je suis les marchés monétaires de près – ce sont des services #DeFi qui vous permettent de prêter et d'emprunter des actifs comme @AaveAave
Ils sont à l'aube de leur âge d'or, leur 2 principales limitations s'effaceront bientôt : coûts en gaz et généralisation:
Thread [1/7] 👇
Tout d'abord coté gaz, c'est sans doute le plus facile. Les L2/sidechains arrivent et s'accompagneront d'une réduction massive des frais pour chaque opération.
@RariCapital (Fuse) est attendu comme un des premiers services disponibles sur @optimismPBC & d'autres suivront
[2/7]
Mar 13, 2021 • 7 tweets • 5 min read
I wanted to wait for the end of the round but this should be public knowledge:
Wonder why the @gitcoin website is so slow and buggy?
Let's have a look at all the 20 trackers 😱 there are just on the homepage
TL;DR: ugly shit just like a web2 startup
gitcoin.co/grants/
We find there an absurd amount, about 20 trackers --- a situation roughly similar to a regular web2 news site. Some like the @nytimes even have a bit less - but don't consider them angels neither
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