Paul Mak 🖖
@Unbankt
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Free market economist, surfer dad who fights for freedom, invests in big ideas and proudly built @bigaarcade + @fringefinance #DeFi #BTC
#freepavel
Joined August 2017
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Absolutely. With a good product there’s a breakout velocity where your marketing spend decreases because word-of-mouth and general awareness boost conversion rates.
However, redundant economic models and poor UX in web3 games prevent this effect. This is another issue with web3
@bigaarcade
@Unbankt
I'd think that the cost gets smaller as the game is more popular because of the domino effect where more and more people recommend the game to their friends etc.
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This entire thread is touches on some of the nuance we’ve built with
@bigaarcade
Essentially we are years ahead of the whole space and we’ve got the goods and now the data to prove it.
The high level recipe sounds simple enough but the difficulty only begins in modelling the
1. Keep building TVL mini games
2. Fund indie games that focus on price go up tech.
Now what I’m about to say needs to be reviewed and approved by a valid legal counsel. Take what i say with a grain of salt without legal counsel.
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Austrian econ scores another.
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Normal games have a 95% failure rate.
That includes big budget, studio backed, highly experienced teams.
Gamefi has an exponential complexity scale compared to normal games because Gamefi has to also get the economics right and the asset integration right using nascent
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99% of all web3 games will likely fail.
This high failure rate is attributed to the fact that traditional games, already face a daunting 95% failure rate, compounded by the additional complexities unique to web3 games.
Web3 games must match the quality and engagement of
"Speak the Truth" Episode 2
Weekly videos breaking down problems in
#web3gaming
, hosted by our Founder
@Unbankt
TLRW:
Studio (many games) > Single game (likely to fail)
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Maths is finite, so coding too is bounded by finiteness, rendering it immutable. This universality means that good code remains consistent no matter the location. It is dependable because of this.
Law however varies in interpretation and changes based on its jurisdiction.
The
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I believe humanity has reached its evolutionary peak and from this point, our species will regress or become redundant.
Evolution requires challenges, but we've surpassed life's natural hurdles and now face no significant threats except those we create in our minds.
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Good law is technologically independent because it’s inherently written to systematically protect against relatively predictable incentive based behaviours. Psychology hasn’t changed since the day of the stoics.
But tech has changed completely and continues to evolve
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Program a set of states that are executed autonomously on bitcoin.
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Govts should be held to the same measures and consequences as companies in a free market economy.
They can set whatever policies they want and we can freely choose to move our residency and with it our tax dollars and or patronage without having any residual accountability.
Simple question.
If each country of the world was a crypto.
Or had its own native coin tied to economic prosperity, standard of living, crime rate, geo political positioning, culture etc.
The better the country, the higher the coin value.
Which one would you invest in?
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@meta_alchemist
Good for you Meta.
First and foremost is web3 games need to get their economics and tokenomics right.
That means architect sustainable profitable game economies and integrating your token or NFT in a way that exclusively enhances the value system of the economy.
Secondly
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Apparently Facebook is still around. Good for them.
Facebook is putting its thumb on the scale of this election. Please help me understand how this Woody Harrelson film about my life violates Facebook’s community standards?
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DOJ hit
@SamouraiWallet
charging them with money laundering. It is my view that if we aren’t using the usd or the banking system then it’s none of their business. Privacy is a human right and what we do with our own stored value is none of their business.
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I was having a chat with a few crypto colleagues last night and they all seemed a little intellectually fatigued. Online I see and hear thought leaders talk as if this is cryptos last season and that it’s all over after this bull run. It seems all the original gangsters have
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And so begins the next propaganda machine. Next 5 years will be politicians and economists all promoting the virtues of ‘not MMT’ but something better ideals lol.
Dont even read it. It takes 86 pages to explain why they can’t really explain, (even with cherry picked data) how
Higher inflation can lead to greater efficiency. It all has to do with the price dispersion that inflation generates, which might motivate some consumers to search for the lowest prices, increasing competition among sellers.
#FEDSPaper
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@VentureCoinist
Rev share is the basis of good protocol:product design and I’m all for it if it’s primarily a code based business where revenues are immutably auditable on chain. It’s where DeFi and all crypto primitives should be ie
@fringefinance
and can be if they’re sufficiently censorship
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Quick brain dump.
There are 5 central challenges facing web3 gaming.
1.Hyper Inflation
2.Liquidity
3.Incentives
economy stability
5.User friction
For context it’s important we understand that monetisation or the capacity to earn or accrue value
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Mike is absolutely right. I’ve spoken about this in detail on
@bigaarcade
I believe we’ve built the only sustainable crypto gaming model in the world so far. Testing only further proves our assumptions and what this reminds me of is DeFi 2015/16 before AMMs/liquidity pools came
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Im just going to say it.
Reward tokens are participation trophies manufactured to deceive investors about the economic potential of a web3 game economy.
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Experiments are what makes crypto great but the
@ethena_labs
WP on USDe roll dice in the absence of mathematic proof.
Fundamental to risk markets is the inherent unpredictability. Crypto is Murphy’s law on crack. Exponential growth can’t go on forever due to energy limitations
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@GeorgeInTheMeta
If we’re talking web3 then No DAU does not = success.
It’s easily manipulated.
1. Either the game pays for DAU via guilds
2. The game socialises cost of DAU to their community of token or nft holders via inflation.
There’s one simple way to measure the success of a game and
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The treasury buyback program begins this month and it’s essentially another bail out. In fact it’s QE and a bank bail out in one.
We’re seeing a very obvious theme here. The US doesn’t have the stones to see the market correct and reset sufficiently. We’re going to continue to
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@grindfacetv
The details of the facts matter.
- Oil production now is lag
- inflation is higher than ever. Biden just changed the calculation. And it’s not reducing it’s slowing but still increasing.
- the additional jobs were created as a product of the stimulus that caused said
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@disclosetv
It’s all just one big circus.
Why is providing military aid to Ukraine not an act of war?
Legally, politically, ethically it’s the same thing.
If I supplied a gun to someone expecting him to murder a US citizen, the US govt would prosecute me as an accessory.
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A Billion new $xrp are released into the market each month for the next 5 years. This means that every month, an additional $3.5Billion in new money needs to go into $xrp to maintain its value. 🤔🤔🤔
$xlm $xvg $btc $eth $ada $xrp $for $omg $zcl $btcp $xrb $itc $dbc
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@cryptoblunder
Absolutely. $BIGA isn’t a rewards token. It’s an LP token that enables us to:
1. Guarantee full reserves in arcade
2. Stabilise the game economy
3. Increase game and CEX liquidity
4. Globalise the payment rail
5. Facilitate uncensored 2way payments
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Props to
@APompliano
- Very comprehensive insights. Lots of thought provoking commentary. Definitely add to the pod cast list. 👍
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I love DeFi. It’s brutal. Last year at least one DeFi protocol either failed or shut down every single week.
Additionally, 2023 saw a consistent pattern of security issues, with at least one hack occurring every 2 weeks.
With Fringe we’re trying to do something no one has
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‘V2’ is the understatement of the year. Absolute weapon dropping on
#DeFi
soon.
@fringefinance
$frin
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Anti-fragility of a robust and lasting DeFi system stems from the anti-fragility of the team that builds it together.
To Brian, Alex, Konstantin, Carlos, Anna + the amazing
@fringefinance
crew. Thank you for your composure, tireless efforts and your conviction to our vision.
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We need more of this:
$zil code audit.
Props to
@ProofofResearch
One of the hardest working, integrity driven, analysts in crypto
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The worlds finances are migrating to a digital only environment. For us who’ve been grinding crypto for years it feels late but on a macro scale we’ve only just begun.
I’m genuinely excited to start moving
@Bondedfinance
into the commercial arena. S/O soon crew. 🍻
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@balajis
Singapore gets so much right. The government understands the root causes of problems and implements laws with sufficient penalties to deter undesirable behaviors. Littering, the ban on chewing gum, feeding pigeons and stray animals. Same applies to gateway crimes. Well-calibrated
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I gotta give
@PeterMcCormack
a big shout out. Have really been enjoying the podcast recently.
@TheStalwart
too. Enjoyed the perspective.
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This isn’t just your everyday roadmap iteration. It improves product, reducing third party dependence, decreasing protocol attack surface while also walking Fringe further down the decentralisation spectrum. $frin for the win.
#DeFi
This week, we published Fringe's custom oracle price model.
It's designed to protect our platform from different kinds of attacks while allowing for more flexibility on asset listings.
Here's a breakdown of the benefits of this new oracle model. 🧵👇
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I opted to temper my enthusiasm. Maybe because I’m cognisant of the fact the PLP deployment is just the first step in what is essentially a marathon. But fuck it, I’m stoked.
Alea iacta est. $FRIN
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2024 kicks off season 2 of web3 gaming.
Szn 1. showed us what’s possible.
Szn 2. Is making the possible happen.
At
@bigaarcade
we’ve figured out a way to hit Axie infinity revenues, scale those revenues and keep them within a sustainable web3 gaming ecosystem.
Players will
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Atomicity isn’t talked about enough but it’s one of the few DeFi innovations in the finance realm. Essentially batching a multi step process into a single click and go, all or nothing transaction. We optimise UX while fostering more efficient markets. $frin with the big plays.😎
🚀 Introducing Fringe Finance's Atomic Repayments: A groundbreaking way to repay loans and trading positions using your collateral in the decentralized finance space.🧵
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In both DeFi and Gaming, almost all projects are generating a yield by exploiting their own users.
There is no such thing as free money, hence there is no such thing as free yield.
Real yield is provisioned from the margin a company generates from its surplus revenues and
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It’s the reverse-Lindy effect.
The longer the
#Uranium
spot price stays below (COP), the sooner and more likely it is to accelerate upwards - as producers shut their mines 1 by 1 depriving market of the yellow powder the bids will start to go up. $URA
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The US govt does not want you to save. They want you to spend. They want activity. Without velocity the entire fiat system falls apart as does liquidity in the tax system. This is why we $btc and this is why we
#DeFi
$frin
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#ZKfrin
with a boat full of assets. 🚀
📅 T-8 days for the v2 launch!
Fringe Finance V2 comes on Jan 25th with a huge asset list, and here we present five more:
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Must read.
#bitcoin
1/ Satoshi’s Vision™ is a silly endeavor, as it doesn’t matter what it was, we are where we are now. However, those pushing the “Bitcoin was first made for payments” narrative insist on cherry-picking sentences from the white paper and forum posts to champion their perspective.
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New video explaining how to mitigate risk and profit, while investing in cryptocurrencies.
$btc $eth $omg $xrp $bis $xmr $rvn
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“We’ve been pressing into it the whole way down”
“We have very deep conviction in this”
@APompliano
on
#bitcoin
Nice work bro. 👍
Bitcoin is fighting back, struggling to stay above $4,000. This crypto expert believes bitcoin will end down at 85% of previous highs.
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In DeFi it is impossible to overlook the economics. In web3 it is common practice to overlook them.
“Look at this cool trailer/game/nft, but please don’t ask about our broken economics”
The easiest way to audit the health of any crypto economic model is to examine its
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@GaryGensler
Even in theory that’s just rhetoric. A history of empirical evidence proves it.
The offence and the resulting damage is already history long before legal radars ping.
Automated, transparent and immutable code mitigates all of the shortcomings the SEC claims to govern.
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Small highly capable teams who ship big products with limited resources is a demonstration of dexterity.
Fringe is already a reality. It’s live. It works and this small team on a humble budget made it happen.
Iterations/improvements will continue, eventually use will grow.
@Unbankt
"They have done so much with the very conservative resources I provided them these past years."
This is a terrible line. Instills low confidence that the resources necessary to make this a reality will be available. Is this why the largest wallets were dumping upon release?
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All you seasoned $crypto traders and $alt coin investors need to stop giving the noobs shit for their investment choices. You were once one of them and now they are lining your pockets by buying your bags. Sit down be humble. $xrp $xvg $drgn $xrb $btc $eth $ada $xlm $iota $icx
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The only real ‘web3 game’ is how many NFTs and tokens can teams sell down before the ecosystem breaks.
It needs to stop. I intend on stopping it by proving sustainable P2E models not only work but can be wildly successful.
@bigaarcade
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“Forgiving” student loans to the tune of $10k per head is about as disingenuous as a mid term marketing promo can get.
The student debt burden is the result of a shameful pricing model that is terminally counter productive.
But who cares about root solutions these days yea.🤷♂️
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NYCB bank hits a 2 decade low and the BTF program expires on March 11th. These are all dominoes slowly falling. It takes time but this is a natural cleansing. What a beautiful setting for bitcoin and cryptos.
US bank stocks are all plummeting. It’s not a “confidence crisis”, it’s a reality check. Banks have been vapour since 2000. It’s only now the market has tested this weakness and they’ve been exposed.
And now you know how redundant regulators are too.
#defi
is the only future.
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@carterthomas
Proof of capability. Dan is literally the single most competent blockchain developer in this entire industry. This will be his third blockchain project to successfully commercialise, prove scalability, operate seamlessly while all delivered on a user friendly interface.
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@nic__carter
It is an inconvenient convenience defendants exploit under the assumption of ‘innocence’. I have a pending case and will be requesting source of funds during formal discovery. That should force them to disclose that they are using their users funds to pay for their defence.
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To novice investors this is capitulation, to the initiated, its distribution and concentration of wealth.
#bitcoin
at $3-4K reps this generations greatest financial opportunity.
Very few will see it.
Less still will exploit it.
We are buying.
$btc $xmr $omg $eth $eos
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The economy is rigged against you because govts opposition to free market capitalism. We must fight back.
It’s why I store my savings in bitcoin, why I use Ethereum for commerce, why I built Fringe for Finance and why we must support the
@TornadoCash
team. Pls help if you can
2024 is the year that will define the rest of my life.
Honestly, I’m scared. But also hopeful that this community cares with a passion.
Please donate towards my legal defense.
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Strategically I have to assume
@MakerDAO
anticipate the market to speculate against sUSDe assuming similar market dynamics as $Luna. Manoeuvre into DAI and lever up your positions. It’s essentially a low risk hedge+ margin short against
@ethena_labs
, should a deviation from the
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@metalpaysme
Authentic Purpose: An area overlooked where metal trumps most. Drives systematic innovation, pro dev and an emotionally engaging culture.
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Solid 6 months advertising to a worlds audience of wealth fund managers. A lot of pent up smart money / sidelined demand.
A 50% retrace is the opening door.
This isn’t the end. It’s just the beginning. $btc
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@WatcherGuru
That’s a mechanical default for a small amount. More like a transmission failure.
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Negligence is a parent not teaching their children compounding interest before they rack up debt.
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