Ryan Y YiWeb3 Passport - TLDR
Web3 Passport TLDR
Ryan Y YiELI5 Ethereum Attestation Service (EAS) - Why You Should Care
EAS is shaping up to be an early open-source onchain primitive for DID / Attestations
Ryan Y YiDigixDAO: A Divorce Story
A case study for voting systems and cryptonative arbitrage
coinbase ventures | www.ryanyyi.xyz
Ryan Y YiWeb3 Passport - TLDR
Web3 Passport TLDR
Ryan Y YiELI5 Ethereum Attestation Service (EAS) - Why You Should Care
EAS is shaping up to be an early open-source onchain primitive for DID / Attestations
Ryan Y YiDigixDAO: A Divorce Story
A case study for voting systems and cryptonative arbitrage
coinbase ventures | www.ryanyyi.xyz
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App Chains are not new. The difference in 2023 is that they are coming to EVM, where the majority of users + integrations (wallet, validator, bridge, node) support. Optimism’s OP Stack is open-source and allows any project/team to launch their own roll-up chain. In 2023 alone, adopters include:
> Coinbase Base
> ZORA Network
> Worldcoin ID
If you ask a project the reason behind a roll-up strategy, they will give you some flavor of the following:
> Scaling: “ETH L1 is too slow”
> Flexibility: “Contracts are not optimized” or “I want to support an EIP that hasn’t hit mainnet yet”
> Value Capture: “Token launch does not make sense but I want to monetize on-chain”
The first two are pretty familiar arguments. The last is the most pertinent. The holy grail for a crypto project is able to monetize on-chain — you get global access at basically zero marginal cost (all forms of “traditional” marginal cost is outsourced to the chain). The headwinds are unknown regulatory risk on a case-by-case basis.
Today’s versions of these are:
> NFTs (OpenSea) — secondary fees of on-chain NFTs
> DeFi (0x) — routing fees of on-chain swaps
> Staking (Blockdaemon) — validator income of inflation + chain fees
App Chains are not new. The difference in 2023 is that they are coming to EVM, where the majority of users + integrations (wallet, validator, bridge, node) support. Optimism’s OP Stack is open-source and allows any project/team to launch their own roll-up chain. In 2023 alone, adopters include:
> Coinbase Base
> ZORA Network
> Worldcoin ID
If you ask a project the reason behind a roll-up strategy, they will give you some flavor of the following:
> Scaling: “ETH L1 is too slow”
> Flexibility: “Contracts are not optimized” or “I want to support an EIP that hasn’t hit mainnet yet”
> Value Capture: “Token launch does not make sense but I want to monetize on-chain”
The first two are pretty familiar arguments. The last is the most pertinent. The holy grail for a crypto project is able to monetize on-chain — you get global access at basically zero marginal cost (all forms of “traditional” marginal cost is outsourced to the chain). The headwinds are unknown regulatory risk on a case-by-case basis.
Today’s versions of these are:
> NFTs (OpenSea) — secondary fees of on-chain NFTs
> DeFi (0x) — routing fees of on-chain swaps
> Staking (Blockdaemon) — validator income of inflation + chain fees
***
Disclaimer: The views and opinions expressed here are solely my own and do not reflect the views of my employer. The content provided is for informational purposes only and should not be construed as financial advice. I am not a financial advisor, and it is important to do your own research and consult with a qualified financial advisor before making any investment decisions. The information I share is based on my personal experience and knowledge and may not be suitable for all individuals or situations.
***
Disclaimer: The views and opinions expressed here are solely my own and do not reflect the views of my employer. The content provided is for informational purposes only and should not be construed as financial advice. I am not a financial advisor, and it is important to do your own research and consult with a qualified financial advisor before making any investment decisions. The information I share is based on my personal experience and knowledge and may not be suitable for all individuals or situations.
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