PaperImperium
@ImperiumPaper
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All things DeFi, economics, and Stardew Valley. Views and opinions do not reflect those of @labsGFX. “Like the Hindenburg Research of governance”
Joined July 2021
Having reviewed, approved, and rejected hundreds of grants, here is some FREE ALPHA to help score grants funding* *My own opinion, but most are common opinions amongst reviewers I think Let’s start ⬇️
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Update: @profplum99 (the $140k poverty line guy) apparently blocked me
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Public institutions aren't chasing trends or narratives. They're looking for secure infrastructure to upgrade the foundations of trust. Dr. Vevera from @ICIBucharest explains why national research bodies must be directly involved in testing and shaping blockchain technology.
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It’s not good to build a house - it’s good to have a house. To the extent building is the best way to get a house, then it’s good It’s not good that crypto powers stablecoins - it’s good to have stablecoins. To the extent crypto is the best way to get stablecoins, then it’s good
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It’s hostile takeover season in DAT-land, apparently. Looks like Binance isn’t happy with the main BNB DAT. Filed today to pack the board and “address the continued destruction of shareholder value”
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The 15% of the market that’s not Tether and Circle has always been a colosseum for gladiators and gladiatrixes as much as anything else. But the show has been dull this cycle. No one appears especially skilled at making money, so we should at least demand entertainment. There’s
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The great hope of DeFi was that composability would allow for a Cambrian explosion of these little widgets and services, but money predictably goes towards things that can launch a token and provide exit liquidity to investors, so stablecoin issuers will need to do it themselves.
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“A stablecoin cannot simply be an asset - it needs to be part of a service.” I’ve castigated stablecoin issuers for not recognizing the commoditization of their core product, and that they must build products and services that use their stablecoin as an input to be viable. At
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The 15% of the market that’s not Tether and Circle has always been a colosseum for gladiators and gladiatrixes as much as anything else. But the show has been dull this cycle. No one appears especially skilled at making money, so we should at least demand entertainment. There’s
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If you haven’t thrown TiD a follow, you should. Usually thoughtful stuff that’s good to noodle over even if you don’t agree or like the commentary.
🧵 USDai — Risk Report USDai is one of the fastest-growing entrants in the synthetic-dollar and RWA-backed stablecoin space. Its design is ambitious: blend the safety of T-Bills with the yield of AI infrastructure. That combination deserves attention — and careful monitoring.
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I’ll take obscure references to old PBS tv shows for $500, Alex
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Negative, ghostwriter. US State Department says the penguins require Americans to exercise increased caution. They also advise bringing your child’s birth certificate as an extra precaution.
I won't retire until ETHGlobal Antarctica becomes real. @hiaubree @cxqmaggie @TheRealKartik what's blocking us? same flag as ethereum logo, no visa discrimination, great research environment, credibly neutral, lots of shipping...
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Viktor’s Razor. Will ponder this over the next week, but it seems like good advice at first glance* * excluding credit-tokens like stables and deposit tokens
Never trust teams that launch 2 tokens imo
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Relevant:
My constructive criticism is as follows: * On the technical side, if interoperability is not very close, explore other “premium” features to both attract and retain new chain partners (remember that the base OP stack is free to use). One example could be zk; I’m sure you can
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As I keep saying, L2s and alt-L1s need to have a clear business plan. Block space is a commodity, and gas fees are unlikely to lead to financial sustainability. Note that Ethereum is also not immune, but also doesn’t have a bunch of equity investors with high cost basis.
You can just build on L1.
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I did find this useful context after I posted
This is ahistorical nonsense. When I first started investing in crypto in 2017, the norm was no vesting for anyone. For investors, founders, employees, all tokens circulated immediately. This norm was changed after the 2018 ICO collapse because it was led to so much bad
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I’m not going to QT anyone on this token vesting debate because I’ve yet to see a sophisticated + honest take. First, it’s silly if vesting for teams (including founders) doesn’t come with a strike price. At least make these options that are worthless while price is < strike,
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I was not inclined to comment but since I’ve been asked, as “a stablecoin guy” about the S&P Tether downgrade & CT discussion: 1) Usually, someone who uses the term “FUD” as pejorative is not a Serious Person. Mute them. 2) You don’t have to underwrite Tether’s solvency and
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I think the demise of Ethena is greatly exaggerated on the timeline. Choosing to deprioritize launching a chain is a good move if they don’t see a clear need or use case. The last thing you want to do is invest lots of time, money, and credibility in launching a product you
Ethena is over. USDe subsidies are done, APY is less than USDT on Aave, and the side projects to prop it up have all collapsed. That said, I respect Terminal for making these kind of hard decisions.
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I was not inclined to comment but since I’ve been asked, as “a stablecoin guy” about the S&P Tether downgrade & CT discussion: 1) Usually, someone who uses the term “FUD” as pejorative is not a Serious Person. Mute them. 2) You don’t have to underwrite Tether’s solvency and
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Two older games I wish would get a sequel or new content: Eufloria and Cultist Simulator
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