The Governance Trap: Why MKR Is Uninvestable
Explanations from Rune about the economics https://forum.sky.money/t/the-economics-of-star-creation/25975 MakerDAO has long been considered one of the pillars of decentralized finance (DeFi), boasting a robust stablecoin ecosystem and a sophisticated governance model. However, despite its technical and economic achievements, MKR—the governance and value accrual token of the protocol—has been consistently underperforming.MKR PriceThe reason? Governance. Decisions made within MakerDAO have syst...

Spark and MakerDAO
While performing the exercise of valuing MKR tokens ahead of the SKY launch, one of the key questions to ask is what value the token captures from the launch of all these projects. What impact should we consider on the MKR token for having financed and created these startups? Spark is currently ranked 12th in DeFi, with a TVL of 2.5 billion. We can consider it as a Lending project that primarily has a protocol that provides capital to lend to third parties. This means that its business is ess...

Sky Valuation
What is the role of investors in Crypto? Before starting a valuation of the SKY token, I think it’s necessary to reflect on the role investors play in the Crypto ecosystem. The reality of the financial markets is that the ownership of the world’s leading companies is highly concentrated. The value creation in these companies is often distributed very unequally. Typically, the great fortunes we see in the world are often associated with the founders of large companies who have capitalized on m...
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Introduction
On September 12, Story Protocol unveiled IP Vault, a system designed to transform how intellectual property (IP) is managed, shared, and monetized. This announcement not only strengthens Story’s own ecosystem but also unlocks new possibilities across industries such as artificial intelligence, music, and genomics.
What is IP Vault?
IP Vault functions as a global, trustless access layer for IP data. The system stores information off-chain, while securing keys through Story’s multi-core architecture.
This design allows IP owners to:
Embed secrets, datasets, or access tokens directly into licensing flows
Set programmable rules for when, where, and how content is unlocked.
Enable conditional decryption based on time, usage, approved environments, or payment conditions.
In essence, it introduces the concept of programmable IP, turning access into a flexible and monetizable digital asset.
Why is it Relevant?
Unlocking New Monetization Models
With IP Vault, creators can link access to content or data with dynamic economic conditions. For example:
A musician could allow a track to be played only on specific platforms or for a limited time.
An AI startup could grant partial dataset access depending on the subscription tier.
This shifts licensing from static agreements toward sophisticated, programmable revenue models.
Security and Control in the Age of AI and RWAs
As artificial intelligence and real-world assets (RWAs) rise in importance, control over data becomes critical. IP Vault enables secure collaboration where only the necessary information is shared, under transparent and enforceable rules.
Imagine a medical research team collaborating on sensitive genomic data: IP Vault ensures that access can be restricted, auditable, and conditional—without compromising security.
Real-World Industry Applications
Story is already showcasing early use cases:
psdn.ai → AI datasets.
Aria Protocol → music masters.
Genobank.io → genomic vaults.
These examples highlight how programmable access to IP could reshape entire industries, from entertainment to biotechnology.
Conclusion
The launch of IP Vault marks a paradigm shift in intellectual property management. Instead of relying solely on static contracts and legal frameworks, IP access can now be automated, programmable, and transparent through blockchain infrastructure.
In a world where data and creativity are the most valuable assets, the ability to control and monetize access at a granular level could redefine the digital economy.
Introduction
On September 12, Story Protocol unveiled IP Vault, a system designed to transform how intellectual property (IP) is managed, shared, and monetized. This announcement not only strengthens Story’s own ecosystem but also unlocks new possibilities across industries such as artificial intelligence, music, and genomics.
What is IP Vault?
IP Vault functions as a global, trustless access layer for IP data. The system stores information off-chain, while securing keys through Story’s multi-core architecture.
This design allows IP owners to:
Embed secrets, datasets, or access tokens directly into licensing flows
Set programmable rules for when, where, and how content is unlocked.
Enable conditional decryption based on time, usage, approved environments, or payment conditions.
In essence, it introduces the concept of programmable IP, turning access into a flexible and monetizable digital asset.
Why is it Relevant?
Unlocking New Monetization Models
With IP Vault, creators can link access to content or data with dynamic economic conditions. For example:
A musician could allow a track to be played only on specific platforms or for a limited time.
An AI startup could grant partial dataset access depending on the subscription tier.
This shifts licensing from static agreements toward sophisticated, programmable revenue models.
Security and Control in the Age of AI and RWAs
As artificial intelligence and real-world assets (RWAs) rise in importance, control over data becomes critical. IP Vault enables secure collaboration where only the necessary information is shared, under transparent and enforceable rules.
Imagine a medical research team collaborating on sensitive genomic data: IP Vault ensures that access can be restricted, auditable, and conditional—without compromising security.
Real-World Industry Applications
Story is already showcasing early use cases:
psdn.ai → AI datasets.
Aria Protocol → music masters.
Genobank.io → genomic vaults.
These examples highlight how programmable access to IP could reshape entire industries, from entertainment to biotechnology.
Conclusion
The launch of IP Vault marks a paradigm shift in intellectual property management. Instead of relying solely on static contracts and legal frameworks, IP access can now be automated, programmable, and transparent through blockchain infrastructure.
In a world where data and creativity are the most valuable assets, the ability to control and monetize access at a granular level could redefine the digital economy.
The Governance Trap: Why MKR Is Uninvestable
Explanations from Rune about the economics https://forum.sky.money/t/the-economics-of-star-creation/25975 MakerDAO has long been considered one of the pillars of decentralized finance (DeFi), boasting a robust stablecoin ecosystem and a sophisticated governance model. However, despite its technical and economic achievements, MKR—the governance and value accrual token of the protocol—has been consistently underperforming.MKR PriceThe reason? Governance. Decisions made within MakerDAO have syst...

Spark and MakerDAO
While performing the exercise of valuing MKR tokens ahead of the SKY launch, one of the key questions to ask is what value the token captures from the launch of all these projects. What impact should we consider on the MKR token for having financed and created these startups? Spark is currently ranked 12th in DeFi, with a TVL of 2.5 billion. We can consider it as a Lending project that primarily has a protocol that provides capital to lend to third parties. This means that its business is ess...

Sky Valuation
What is the role of investors in Crypto? Before starting a valuation of the SKY token, I think it’s necessary to reflect on the role investors play in the Crypto ecosystem. The reality of the financial markets is that the ownership of the world’s leading companies is highly concentrated. The value creation in these companies is often distributed very unequally. Typically, the great fortunes we see in the world are often associated with the founders of large companies who have capitalized on m...
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