Open protocols - product and economics. Building a permissionless future. Oxygenate blockchain
Everybody's Free to Wear Sunscreen
Ladies and gentlemen of today’s class of legislators and regulators designing blockchain laws/regulations in the United States:
Everybody's Free to Wear Sunscreen
Ladies and gentlemen of today’s class of legislators and regulators designing blockchain laws/regulations in the United States:
Rules-based Regulation of Financial Services Built on Blockchain Ledgers
Flipping the status-quo on its head
Rules-based Regulation of Financial Services Built on Blockchain Ledgers
Flipping the status-quo on its head
Crypto Culture and the Birth of Novel Tech
Ignore crypto culture, focus on the technology
Crypto Culture and the Birth of Novel Tech
Ignore crypto culture, focus on the technology
American Exports and the GENIUS Act
The GENIUS act is law. How is a crypto stablecoin bill going to boost American exports?
American Exports and the GENIUS Act
The GENIUS act is law. How is a crypto stablecoin bill going to boost American exports?
Permitted Payment Stablecoin Issuer Risks - GENIUS
A few thoughts on permitted payment stablecoin issuer risks
Permitted Payment Stablecoin Issuer Risks - GENIUS
A few thoughts on permitted payment stablecoin issuer risks
The Cost of Speculative Project Tokens
Thanks to @montez and @snormore for the editsGoalIdentify the problems with using a speculative project token for web3 project user actions. Use Arweave’s $AR token as an example.IntroductionEnthusiasm for crypto projects drives speculative market activity for project tokens. If tokens are used to pay for project actions (i.e., payment tokens), then the price of project actions increases along with token value. In this way, token speculation levies an implicit cost on web3 product users—ultim...
The Cost of Speculative Project Tokens
Thanks to @montez and @snormore for the editsGoalIdentify the problems with using a speculative project token for web3 project user actions. Use Arweave’s $AR token as an example.IntroductionEnthusiasm for crypto projects drives speculative market activity for project tokens. If tokens are used to pay for project actions (i.e., payment tokens), then the price of project actions increases along with token value. In this way, token speculation levies an implicit cost on web3 product users—ultim...
Rollup Operations - Problem Exploration
Ethereum rollups provide an offchain, asynchronous process for ordering and executing Ethereum transactions that runs parallel to Ethereum consensus. The separation and parallelization of functions opens a wide design/problem space for developersObjectiveI’m interested in exploring the rollup design space--in particular the problems rollup operators are encountering. The goal of this blog post is to maintain an ongoing list of these problems, along with ideas for potential solutions.ContextTh...
Rollup Operations - Problem Exploration
Ethereum rollups provide an offchain, asynchronous process for ordering and executing Ethereum transactions that runs parallel to Ethereum consensus. The separation and parallelization of functions opens a wide design/problem space for developersObjectiveI’m interested in exploring the rollup design space--in particular the problems rollup operators are encountering. The goal of this blog post is to maintain an ongoing list of these problems, along with ideas for potential solutions.ContextTh...
A Sustainable Economic Model for Open Protocols
As protocol developers, we often overlook simple ways to accrue value, and instead bake complexity and friction into our designs in order to serve our token overlords. Technology users demand frictionless experiences, yet in order to stay consistent with jurisdictional laws and regulations, we build “mechanics” that prove beyond a doubt the token is a technology and not a security. To be fair, tokens are a wonderful tool for coordinating protocol actors. They are also a wonderful tool for sus...
A Sustainable Economic Model for Open Protocols
As protocol developers, we often overlook simple ways to accrue value, and instead bake complexity and friction into our designs in order to serve our token overlords. Technology users demand frictionless experiences, yet in order to stay consistent with jurisdictional laws and regulations, we build “mechanics” that prove beyond a doubt the token is a technology and not a security. To be fair, tokens are a wonderful tool for coordinating protocol actors. They are also a wonderful tool for sus...
The Inevitability of Closed Protocols
There is friction with using traditional funding models for open protocol development. It’s not normal institutional behavior to let go of control. Yet, that is exactly what we eventually expect of early protocol development teams and their backers. The incentives are misaligned. What are the consequences of this misalignment?If we don’t demand truly open protocols, what will happen?Control of the protocol’s roadmap will reside with a few non-devs (i.e., colloquially known as the “devco”). Th...
The Inevitability of Closed Protocols
There is friction with using traditional funding models for open protocol development. It’s not normal institutional behavior to let go of control. Yet, that is exactly what we eventually expect of early protocol development teams and their backers. The incentives are misaligned. What are the consequences of this misalignment?If we don’t demand truly open protocols, what will happen?Control of the protocol’s roadmap will reside with a few non-devs (i.e., colloquially known as the “devco”). Th...
ActivityPub and the Fediverse
The recent news that Meta’s Threads platform will eventually support/integrate the Fediverse has prompted the crypto economics side of my brain to do some soul searching. Since the advent of Bitcoin, crypto economics has proven effective in incentivizing decentralized infrastructure providers to permissionlessly show up and work, and ensuring these providers find it in their best interest to follow protocol. The fediverse, however, is a permissionless network that doesn’t consider crypto econ...
ActivityPub and the Fediverse
The recent news that Meta’s Threads platform will eventually support/integrate the Fediverse has prompted the crypto economics side of my brain to do some soul searching. Since the advent of Bitcoin, crypto economics has proven effective in incentivizing decentralized infrastructure providers to permissionlessly show up and work, and ensuring these providers find it in their best interest to follow protocol. The fediverse, however, is a permissionless network that doesn’t consider crypto econ...
