How should a protocol like Uniswap or Compound structure its treasury? This post covers the principles of protocol treasury management, fiscal policy, asset allocation, ways to diversify the treasury, and responsibilities of a treasury committee.
There is a primal demand for extreme sports type thrills in finance. This includes cryptocurrencies, Tesla stock, S\&P put options, and liquidity mining. Investing is a form of entertainment like riding a roller coaster or watching a horror movie. The ticket fee you are paying is in the form of possible investment losses.
Asset Light in the Physical World. Asset Heavy in the Digital World.
How do you build a pseudonymous reputation that is not tied to any particular platform and portable across platforms? The only satisfactory answer today is building a reputation based on your on-chain history.
Crypto treasuries are typically thought to be transparent. But if a community member needs to spend several hours digging through Etherscan, Snapshot, and Discourse to get a summary of the treasury’s activities over the past month, is the transparency useful?
We’ve had an explosion of online communities. Social tokens add a monetary layer to these communities, which can help distribute ownership, improve governance, reward active contributors, and much more. I like an analogy that Eric Ruleman came up with in a conversation - being involved in a social token community feels like running a college club that could scale to nation-state.
We have tools to communicate with billions of people but our tools to coordinate with people haven’t kept up with this. It has been over twelve years since Satoshi published the Bitcoin whitepaper. Since then, we’ve had several successful experiments in human coordination. It is clear to me that crypto will re-orient society. It will affect how people think, feel, and live.