
Milestones Towards a Long Position
As mentioned previously, I believe crypto-specific blow-ups and forced liquidation is behind us. Yet the gm Portfolio is in cash with the thesis that crypto will go down with the rest of the public markets should the economy enter a recession and public equities suffer a bear market. Here are some things we are monitoring as milestones along a way towards taking long positions in crypto: 1. Yield curves steepen (un-invert). Currently, the US Treasury 2-year/10-year and the 3-month/10-year spr...

Fair Launches and Neutrality
Are fair launches really that equal? And, if not, how can we improve them?(Fair) Launch CodesTo add context, here’s a quick primer on the concept. These are token distribution models which are designed to favor no individual or group. There are no founders’ allocations, seed round, or ICO that provides preferential coin or token access. Yearn.Finance is a prime example. Zero $YFI was allocated to presales or ICOs, or even the founder. Early distribution was primarily shared out between the fi...

Islands
The crossover between blockchain and AI seems to inspire more derision than usual from Crypto X/Twitter. I think this is largely due to the void of implemented use cases surrounding them. There’s an air of magical thinking about combining the two technologies that has a multiplying effect on any apprehension. The overlap feels like blockchain circa 2018, when decentralization was pitched alongside every major industry as a revolutionary ace card without sound explanation or proof.The reality ...
We’re builders and thinkers on a mission to further develop the crypto ecosystem through protocol research and incubation.

Milestones Towards a Long Position
As mentioned previously, I believe crypto-specific blow-ups and forced liquidation is behind us. Yet the gm Portfolio is in cash with the thesis that crypto will go down with the rest of the public markets should the economy enter a recession and public equities suffer a bear market. Here are some things we are monitoring as milestones along a way towards taking long positions in crypto: 1. Yield curves steepen (un-invert). Currently, the US Treasury 2-year/10-year and the 3-month/10-year spr...

Fair Launches and Neutrality
Are fair launches really that equal? And, if not, how can we improve them?(Fair) Launch CodesTo add context, here’s a quick primer on the concept. These are token distribution models which are designed to favor no individual or group. There are no founders’ allocations, seed round, or ICO that provides preferential coin or token access. Yearn.Finance is a prime example. Zero $YFI was allocated to presales or ICOs, or even the founder. Early distribution was primarily shared out between the fi...

Islands
The crossover between blockchain and AI seems to inspire more derision than usual from Crypto X/Twitter. I think this is largely due to the void of implemented use cases surrounding them. There’s an air of magical thinking about combining the two technologies that has a multiplying effect on any apprehension. The overlap feels like blockchain circa 2018, when decentralization was pitched alongside every major industry as a revolutionary ace card without sound explanation or proof.The reality ...
We’re builders and thinkers on a mission to further develop the crypto ecosystem through protocol research and incubation.

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I was recently given the choice between two pills.
One green and glowing. The other candy pink.
I chose the side of science in the Barbenheimer saga.
Some three hours later, I left the screening with a new appreciation for the depths of societal conditioning to which we’re exposed.
And feeling more bullish than ever on Web3 and identity ownership.
In the 18th Century, social theorist Jeremy Bentham developed the idea of a panopticon to illustrate totalitarianism.
Derived from the Greek term for ‘all seeing’, a panopticon is a prison design where a single guard can observe all inmates from a central tower.

Obviously this single guard doesn't have 360° chameleon-like vision. Instead, the positioning of the tower leaves prisoners with the constant disincentive of being observed.
An ever-present, always-unknown fear of retribution pervades, and results in complete compliance.
The introduction of nuclear weapons became a perfect foil for this kind of societal control.
The initial use of these weapons was an intentional final hammerblow for Japan.
What made it so impactful was that the effects were indiscriminate. Wiping out an entire city also erases a clear portion of a society’s identity.
The aftermath meant that there was little capacity to analyze this in a granular way, and it became easy to dehumanize victims due to the scale.
Of course, other major nations dug deep to combat this new threat and an arms race ensued.
What we’re left with today is not a cautious and remorseful appreciation for the power of science, but instead a lingering threat of mutually assured destruction.
Early in the development of nuclear weapons, the Manhattan Project scientists toyed with the idea that the reaction of their first nuclear test might never end, and eventually vaporize the planet’s atmosphere.
They decided that the chances were ‘near zero’ and went ahead. The risk was worth the reward.
When we outsource our responsibilities we give away our freedoms. Sometimes, that happens before we are even able to make rational decisions.
It’s why Web3 identity solutions are one of the most exciting areas in the space right now. It’s easier to comprehend the things that you have a complete understanding of and control over.
Giving humans the opportunity to create a tangible and transparent graph of personal and social information is empowering. It becomes a natural starting point for making informed decisions that benefit them as individuals, and not just numbers.
I was recently given the choice between two pills.
One green and glowing. The other candy pink.
I chose the side of science in the Barbenheimer saga.
Some three hours later, I left the screening with a new appreciation for the depths of societal conditioning to which we’re exposed.
And feeling more bullish than ever on Web3 and identity ownership.
In the 18th Century, social theorist Jeremy Bentham developed the idea of a panopticon to illustrate totalitarianism.
Derived from the Greek term for ‘all seeing’, a panopticon is a prison design where a single guard can observe all inmates from a central tower.

Obviously this single guard doesn't have 360° chameleon-like vision. Instead, the positioning of the tower leaves prisoners with the constant disincentive of being observed.
An ever-present, always-unknown fear of retribution pervades, and results in complete compliance.
The introduction of nuclear weapons became a perfect foil for this kind of societal control.
The initial use of these weapons was an intentional final hammerblow for Japan.
What made it so impactful was that the effects were indiscriminate. Wiping out an entire city also erases a clear portion of a society’s identity.
The aftermath meant that there was little capacity to analyze this in a granular way, and it became easy to dehumanize victims due to the scale.
Of course, other major nations dug deep to combat this new threat and an arms race ensued.
What we’re left with today is not a cautious and remorseful appreciation for the power of science, but instead a lingering threat of mutually assured destruction.
Early in the development of nuclear weapons, the Manhattan Project scientists toyed with the idea that the reaction of their first nuclear test might never end, and eventually vaporize the planet’s atmosphere.
They decided that the chances were ‘near zero’ and went ahead. The risk was worth the reward.
When we outsource our responsibilities we give away our freedoms. Sometimes, that happens before we are even able to make rational decisions.
It’s why Web3 identity solutions are one of the most exciting areas in the space right now. It’s easier to comprehend the things that you have a complete understanding of and control over.
Giving humans the opportunity to create a tangible and transparent graph of personal and social information is empowering. It becomes a natural starting point for making informed decisions that benefit them as individuals, and not just numbers.
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