The Stablecoin Value Accrual Puzzle
1/7 Talking to operators, investors, and founders in the stablecoin space today, there's an open question about where future value accrual will occur
After five years at
@gauntlet_xyz
, it is bittersweet to share that last week was my final week at Gauntlet. The team at Gauntlet is A+, and I couldn’t be more excited about the company’s future.
What’s next: I’ll be exploring new ideas in the stablecoin and consumer crypto
Roommate: “I just got into options trading this week and have already made $400. It’s pretty easy as long as you understand how everything works together.”
Robinhood has become the casino of 2020
We’re hiring for over 20 positions at
@gauntletnetwork
!
If you’re excited about crypto and want to work at a 🚀 company with some of the smartest and nicest people in the industry, my dms are open.
🚨 We now have openings across EVERY department🚨
👉Eng Manager
👉Simulation DS (mid-level, Senior, Manager)
👉PM & Protocol PM
👉Content Manager
👉Director of People
👉Ops Associate
👉Finance Associate
👉Data Eng & Data Analyst
👉FE/FS Eng
Apply here:
Excited to partner with Gauntlet and support them as they make DeFi more safe and capital efficient.
Today, DeFi governance lacks rigor. Gauntlet fixes this.
Their team on the frontier of risk thinking, with deep expertise from self-driving cars and HFT.
@Melt_Dem
I recently moved all my robinhood cash to Tori by
@utopialabs_
(earning an avg of 10%) and can transfer fiat directly in too
It is using Aave on Abritrum under the hood but abstracts away gas fees, private keys, etc
Twitter is to
@Polymarket
as ESPN is to DraftKings.
I'm surprised Polymarket hasn't embedded news streams into their website or Twitter hasn't embedded prediction markets into their app
I can’t shill
@DoNotPayLaws
83b offering enough. I used it personally and when I noticed an issue,
@jbrowder1
responded within 30 mins on a Saturday and fixed it.
For more info on an 83b, checkout
@jlfwong
’s
Major win from the IRS. 83bs can be electronically signed. DoNotPay has been advocating for clarity on this issue and the IRS has now confirmed that our e-signatures are 100% acceptable.
If you have been impacted by recent layoffs and want to work in crypto, please reach out!
Gauntlet is still hiring across the board () and growing quickly!
Advice that I have been sharing with friends on how to get a job at a startup
Create a plan of the things you could do for the company over X length of time with measurable metrics. An example I used to get contracting work -
Link doc in intro email
Stablecoins and app chains will enable new revenue lines for applications that have wide distribution just as embedded fintech did for Web 2.0 companies
LinkedIn, Twitter, or Facebook could be much more useful if they fostered these introductions using the plethora of data they already have on each of us. Some exciting startups are beginning to do this such as
@lunchclubai
.
If you're in SF and want a fun quarantine activity, shuck your own oysters from
@hogislandoyster
.
You can pick them up at the Ferry Building Farmer's Market on Saturday, and you will also be supporting a local fishery.
11/10 experience
@pavtalk
@salahuddin
@MattHartman
has been doing this weekly and it’s been amazing! Lots of his guests have all the qualities listed above I.e
@joshelman
.
It’s especially interesting to hear about the many precursors to the products they talk about today.
This is an incredible opportunity for anyone interested in building the future of verifiability
@sina_eth_
+
@0x_Osprey
aren't only top-notch crypto founders but top-notch people
Fun fact:
@sina_eth_
has built almost our entire stack by himself
-a net new smart contract mechanism (the first of many 😉)
-the entire API
-backend infrastructure
-explorer
If you want to learn and ship alongside one of the most talented devs in crypto, check our openings!
An excellent podcast () by
@eriktorenberg
with
@alokvasudev
and
@m2jr
about what is uniquely enabled by crypto, blockchain adoption, the role of governments in business, and societal abundance. Below are some takeaways but not direct quotes:
I see lots of protocols proposing ve gauges as a way to fix their Tokenomics woes.
In this thread, I explain why ve gauges is objectively a bad mechanism to implement for your protocol!
It doesn't solve any problems while creating massive ones and needs to go away.
1/🧵
happy for people to sleep better, but if you need this crazy ass contraption to sleep, there's something wrong with you! you might wanna start listening to those thoughts racing through your mind as you struggle to fall asleep - they are likely keeping you up for a reason! your
I remember
@jillruthcarlson
saying the same thing 3 years ago at the 2018 MIT Bitcoin Expo. 3 years later and the amount of available capital has only 📈
Going to be on CNBC's
@SquawkAlley
this morning talking NFTs, crypto, and how all of it is the (il)logical conclusion of lots of capital in the system.
@0xkaito
Great post and agree with many of the things listed. A few thoughts:
- There are a variety of "global venmo apps" that are geographically focused i.e. Lemon,
@withparallax
, etc. I imagine these will be very successful and predominantly used for remittances
Additional benefits of
@KevinSimler
I worked on a cattle ranch as a manual laborer for one summer. While it was one of the hardest summers of my life, it was one of the most educational summers of my life.
@andy8052
Many more important causes haven’t been able to offer financial products in return for fundraising contributions
Maybe DAOs change this by being able easily create/manage ownership in things
@lucasmanuel_eth
It’s crazy to me that the multi chain UI doesn’t have any warning that there bridge is broken and any bridges transaction will result in stuck funds
For the amount of rent you pay in SF, NYC, and LA, you could build your dream home in Austin, Raleigh or Columbus.
We built this page to compare what your rent would get you and compare it to purchasing on the coasts🏡
I'm not convinced that DAOs are a great replacement for traditional AngelList SPVs.
The things that are uniquely enabled by DAOs from an investment perspective are:
@Mascobot
I walk by here almost every day and it didn't happen overnight - It took at least three weeks iirc between when neighbors started to put out planters to the photo above - Multiple encampments lingered for 2 + weeks and took awhile for a formal sweep to occur
During this volatile period, Citadel Securities was the ONLY major market maker that executed buy and sell orders for individual investors without limitations.
@mikedemarais
Second the last point but I think also their UI is very simple which is important
It is hard with a lot of vault/yield generation apps to understand what the APY is and where it is coming from. There are multiplier values and boosting opportunities that make the experience
Hinge’s “Most Compatible” feature epitomizes one of the powers of the internet for me: connecting individuals who most likely would have never met in real life.
Sharpe Ratio (Excess return investor earns for the risk they take on) of bitcoin VS traditional asset classes as of December 30, 2016. See the report by
@cburniske
@WhiteAdamL
I believe that you will eventually have more success dating suggested individuals from an app than by trying to chat with someone at a bar. It also seems inevitable that similar techniques will be used for meeting new friends, employees, or cofounders.