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Chad FowlerWeb2 -> Web3 Vampire Attack
What is a Vampire Attack? A strategy where a new platform drains resources — such as liquidity and users — from an established one by offering better incentives to switch.The SushiSwap ExampleSushiSwap famously enticed Uniswap's liquidity providers to migrate their funds by offering additional rewards in SUSHI tokens, effectively executing a vampire attack.Incentives, Rewards, and EffectsIncentives: New platforms offer irresistible benefits to encourage a switch.Rewards: Immediate and ta...
Chad FowlerHard DAOs
Ever since I first heard the term, the "DAO" or Decentralized Autonomous Organization, has captured my imagination in a way few other technological ideas have in my career. When BlueYard hosted our first mini-conference, Decentralized & Encrypted, in Berlin in 2016 the conversation between the participants orbited around the original DAO (called simply "The DAO", which was subsequently and notoriously hacked) and the directions this new economic lifeform might take. There was of course talk o...
Chad FowlerThe Curse of a Name: How to Kill a Good Idea
What do the following have in common?Agile Software DevelopmentSix SigmaBehavior Driven DevelopmentSoftware CraftsmanshipDevOpsEach of these represents a good idea that a group of well-meaning people tried (and succeeded) to spread into the world. Each is generally poorly defined and poorly understood. Each term has now lost its meaning. Each term, with new watered-down, wrong-headed interpretations is being used constantly to create a false sense of security and justification for bad practic...
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Chad FowlerWeb2 -> Web3 Vampire Attack
What is a Vampire Attack? A strategy where a new platform drains resources — such as liquidity and users — from an established one by offering better incentives to switch.The SushiSwap ExampleSushiSwap famously enticed Uniswap's liquidity providers to migrate their funds by offering additional rewards in SUSHI tokens, effectively executing a vampire attack.Incentives, Rewards, and EffectsIncentives: New platforms offer irresistible benefits to encourage a switch.Rewards: Immediate and ta...
Chad FowlerHard DAOs
Ever since I first heard the term, the "DAO" or Decentralized Autonomous Organization, has captured my imagination in a way few other technological ideas have in my career. When BlueYard hosted our first mini-conference, Decentralized & Encrypted, in Berlin in 2016 the conversation between the participants orbited around the original DAO (called simply "The DAO", which was subsequently and notoriously hacked) and the directions this new economic lifeform might take. There was of course talk o...
Chad FowlerThe Curse of a Name: How to Kill a Good Idea
What do the following have in common?Agile Software DevelopmentSix SigmaBehavior Driven DevelopmentSoftware CraftsmanshipDevOpsEach of these represents a good idea that a group of well-meaning people tried (and succeeded) to spread into the world. Each is generally poorly defined and poorly understood. Each term has now lost its meaning. Each term, with new watered-down, wrong-headed interpretations is being used constantly to create a false sense of security and justification for bad practic...
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Nany startups play the arbitrage game with cloud computing & storage credits from the major players. With the abstractions available today (Docker, Kubernetes, etc) deployment on different providers can be identical.
The same is and will be the case for Ethereum L2s. New apps can be tourists in every ecosystem, benefit from grants and promotion from those ecosystems' developer relations functions and then move on when they see fit. For a certain class of application (e.g. a dex), this is an intended and desirable situation for all parties. For others, the app or protocol bring the usage and only one chain wins.
Other than the obvious competitive race to the bottom in terms of fees and latency, this is a situation made possible and constantly exacerbated by Solidity and the EVM. Portability leads to low switching cost which leads to commoditization of the platform.
Nany startups play the arbitrage game with cloud computing & storage credits from the major players. With the abstractions available today (Docker, Kubernetes, etc) deployment on different providers can be identical.
The same is and will be the case for Ethereum L2s. New apps can be tourists in every ecosystem, benefit from grants and promotion from those ecosystems' developer relations functions and then move on when they see fit. For a certain class of application (e.g. a dex), this is an intended and desirable situation for all parties. For others, the app or protocol bring the usage and only one chain wins.
Other than the obvious competitive race to the bottom in terms of fees and latency, this is a situation made possible and constantly exacerbated by Solidity and the EVM. Portability leads to low switching cost which leads to commoditization of the platform.
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