Austin Adams
@AustinAdams10
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building @whetstonedotcc | advising @variantfund | prev @uniswap
Joined August 2011
Today, we are happy to announce the launch of the world’s first dynamic bonding curves from @dopplerprotocol. We believe this is the largest upgrade to bonding curves since their inception and will power price discovery for new and old assets classes and products.
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Looking forward to feedback on this piece, as I know people care deeply about auction design. New tech has given us options that early auctioneers could dream of. Read the piece here: Paragraph link here:
paragraph.com
Every team, artist, or developer that has created a token has had to deal with the fundamental question of how much is this asset worth and how to get it into the hands of their community or users.
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By expanding who can interact with markets, we open their benefits to a more diverse set of participants and allow people to monetize their unique model of the world. Value should accrue to those who provide the most unique valuable knowledge.
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I argue that fixed price auctions are a relic of this difficulty with bidding. By dynamically adjusting prices, the auction results in less value leakage from both the ecosystem and the long-term buyers of it, leading to better price outcomes on net.
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In programmatic markets, all of these traditional difficulties are lessened by the underlying infrastructure. Users are able to bid in auctions abstracted through verifiable code. It seems intuitive to long-time crypto users, but it's a massive shift in potential.
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Historically, auctions favored fixed prices because of the difficulty with both bidding and running the auction. Simply running an auction was a monumental undertaking of getting everyone into the right room, placing bids, and executing the sale.
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Releasing a first piece about the design behind initial pricing auctions and how we think about their tradeoffs with @whetstonedotcc
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the only anti-sniping mechanism that works is getting to the right price as fast as possible.
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when capital systemically has better returns than labor, it should be no wonder why the kids see labor as a losing game.
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RT @pure_markets: ✨ Now live as a @farcaster_xyz Mini App ✨. Create & trade coins directly in Farcaster with Pure Markets . ✅ @zora integra….
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the benefit of crypto opening up raw market data to everyone is now people realize prices and company data is all fake and incredibly hard to find.
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as a builder, you are creating a future no one else sees and looks insane to many. you must quickly find those who can see the vision and do whatever you can to bring them on the journey with you.
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RT @pure_markets: in case you missed it 🔊🔊🔊. swap @zora content and creator coins on alongside other applications….
pure.st
The purest® markets - now available on Base, Ink, and Unichain
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seems like someone should fix this.
another day, another wildly mispriced IPO that would have been better done on crypto rails
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$1.5B dollars lost in one day as a tithe to underwriters. IPOs are a failed market structure.
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IPOs are a failed market structure
Bullish stock jumped to more than triple its IPO price minutes after listing on the NYSE.
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