Writing ‘Ceteris Paribus’ - musings at the intersection of crypto, econ, and policy.
Apr 16, 2023 • 13 tweets • 7 min read
1/ One item highlighted in @VitalikButerin's Ethereum roadmap is Distributed Validator.
What is 𝗗𝗶𝘀𝘁𝗿𝗶𝗯𝘂𝘁𝗲𝗱 𝗩𝗮𝗹𝗶𝗱𝗮𝘁𝗼𝗿 𝗧𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝘆 (#DVT) and could it be the next big narrative for Ethereum after Shapella Upgrade?
🧵 A thread
2/Since Ethereum’s Merge, we have witnessed the Liquid Staking Derivative protocols like @LidoFinance@Rocket_Pool@fraxfinance flourish.
The rapid expansion of the liquid staking, however, has led to concerns about concentration.
Feb 17, 2023 • 13 tweets • 6 min read
1/ With the recent depeg of @Platypusdefi's $USP and FUD around $BUSD, I dived deep into @y2kfinance, a DeFi protocol on @arbitrum. A thread on the protocol mechanism and the $Y2K token 🧵
2/ One of the roles of financial markets is to transfer risk and allocate it efficiently. But there's a gap in the DeFi world when it comes to hedging against stablecoin de-pegging risks.
1/15
Last month there was an interesting DAO proposal on @LidoFinance by @_skozin. The crux of the proposal argues for introducing a Dual Governance scheme, in which $stETH holders will also be granted governing power in addition to $LDO holders. michaellwy.substack.com/p/ambition-mad…
2/15
In my latest blog, I explore how the Dual Governance scheme resembles the structure of a #bicameral legislature (with specific reference to the U.S. Congress) and inherits the spirit of check and balance to address moral hazards.
