Disclosures
Last Updated: 10/02/2025 I assume no duty and provide no guarantee of keeping these disclosures complete or up to date, but currently anticipate updating them from time to time to reflect the changes I deem sufficiently material to warrant disclosure. Liquid Tokens I hold various liquid tokens these are all bought / sold on open markets and I receive no special access. I’m an angel investor in: Gold Sky, Pods Finance, Optimism PBC, The Giving Block, Charged Particles, Rabbit Hole, Mirror, Ney...
Disclosures
Last Updated: 10/02/2025 I assume no duty and provide no guarantee of keeping these disclosures complete or up to date, but currently anticipate updating them from time to time to reflect the changes I deem sufficiently material to warrant disclosure. Liquid Tokens I hold various liquid tokens these are all bought / sold on open markets and I receive no special access. I’m an angel investor in: Gold Sky, Pods Finance, Optimism PBC, The Giving Block, Charged Particles, Rabbit Hole, Mirror, Ney...
Governance is dead, long live TOKENS
Governance is dead, long live TOKENSA popular trend kicked off by the Compound Protocol in the Spring of 2020 was governance tokens for DeFi protocols. The dream of governance tokens was a beautiful ideal. Simply by using a protocol, you would automatically and freely receive ownership of it. Decision making around the protocol would be decentralized allowing thousands and ultimately millions to have their say and vote on changes to the protocol. But the reality of governance tokens hasn’t li...
Governance is dead, long live TOKENS
Governance is dead, long live TOKENSA popular trend kicked off by the Compound Protocol in the Spring of 2020 was governance tokens for DeFi protocols. The dream of governance tokens was a beautiful ideal. Simply by using a protocol, you would automatically and freely receive ownership of it. Decision making around the protocol would be decentralized allowing thousands and ultimately millions to have their say and vote on changes to the protocol. But the reality of governance tokens hasn’t li...
Protocol Tokens and Growth
Protocol Tokens and GrowthIf the traditional revenue and expense business model does not apply to protocols how should we think about growing protocols and the role of tokens? Properly designed protocols should align incentives so that uncoordinated actors are rewarded for growing the protocol. A protocol token is a primary method of doing this. As an example we can look at the first blockchain protocol – Bitcoin. As of this writing, there are ~900 new Bitcoins minted per day and automaticall...
Protocol Tokens and Growth
Protocol Tokens and GrowthIf the traditional revenue and expense business model does not apply to protocols how should we think about growing protocols and the role of tokens? Properly designed protocols should align incentives so that uncoordinated actors are rewarded for growing the protocol. A protocol token is a primary method of doing this. As an example we can look at the first blockchain protocol – Bitcoin. As of this writing, there are ~900 new Bitcoins minted per day and automaticall...
EigenLayer
EigenLayerIn 2013 @VitalikButerin loved Bitcoin. However, Bitcoin was limited because you couldn't build arbitrary programs on top of it. He created Ethereum to take trustless execution of Bitcoin generalize it to arbitrary apps. In 2021 @sreeramkannan loved Ethereum. However, Ethereum was limited because apps had to be built within the Ethereum virtual machine. He created @eigenlayer to take the trustless execution of Ethereum and generalize it to arbitrary usage. My personal view is th...
EigenLayer
EigenLayerIn 2013 @VitalikButerin loved Bitcoin. However, Bitcoin was limited because you couldn't build arbitrary programs on top of it. He created Ethereum to take trustless execution of Bitcoin generalize it to arbitrary apps. In 2021 @sreeramkannan loved Ethereum. However, Ethereum was limited because apps had to be built within the Ethereum virtual machine. He created @eigenlayer to take the trustless execution of Ethereum and generalize it to arbitrary usage. My personal view is th...
Contradiction in the Middle
Contradictions in the MiddleA few weeks ago, a small corner of the internet erupted in response to an interview published in New York Magazine. The interviewee, Gary Gensler, claimed that all crypto assets fall under the category of "securities" (a United States legal classification), with the exception of Bitcoin. This statement caused a stir for two reasons: first, Gensler is not just anyone - he is the head of the Securities and Exchange Commission (SEC). By making this assertion, he was a...
Contradiction in the Middle
Contradictions in the MiddleA few weeks ago, a small corner of the internet erupted in response to an interview published in New York Magazine. The interviewee, Gary Gensler, claimed that all crypto assets fall under the category of "securities" (a United States legal classification), with the exception of Bitcoin. This statement caused a stir for two reasons: first, Gensler is not just anyone - he is the head of the Securities and Exchange Commission (SEC). By making this assertion, he was a...
