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.

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 🧵

https://twitter.com/mrjasonchoi/status/1625902538376757248

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.

🧵⬇️ Crypto loves #trilemmas. I compiled every trilemma I came across related to #blockchain, #web3, and #finance.
Perhaps by addressing the difficult design choices presented in these "tricky triangles", the next killer use case will eventually emerge
michaellwy.substack.com/p/every-crypto… 1. #Scalability Trilemma by @VitalikButerin

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.