This isn’t really an essay that’s meant to be read in full. It’s more of a skimmable resource, an archive. I made it for the people who have had a life experience that has shown them they need to understand decentralized finance.

This isn’t really an essay that’s meant to be read in full. It’s more of a skimmable resource, an archive. I made it for the people who have had a life experience that has shown them they need to understand decentralized finance.

Two things are true right now. First, the crypto industry has won. It has enough of a foothold in the world that it’s not going anywhere, and it will eventually reach everything. Second, the vibes are awful, because nothing is proceeding as expected. The oldheads of this space got used to a rough script of good times and bad times, and this particular good time is not good in the way it “should” be if the old patterns held. And a fresh bad time might have already begun. Crypto denizens begged...

Two things are true right now. First, the crypto industry has won. It has enough of a foothold in the world that it’s not going anywhere, and it will eventually reach everything. Second, the vibes are awful, because nothing is proceeding as expected. The oldheads of this space got used to a rough script of good times and bad times, and this particular good time is not good in the way it “should” be if the old patterns held. And a fresh bad time might have already begun. Crypto denizens begged...