4 ms·
I mean everyone has their idea of what is 'interesting' in crypto, but the counterpoint to your argument is all of those things can be positioned as being just
by RC_ITR 4y ago
I mean everyone has their idea of what is 'interesting' in crypto, but the counterpoint to your argument is all of those things can be positioned as being just as scammy as yield farming:
AMMs = Only work in a world where prevailing prices aren't set by traditional centralized order books. As long as those exist, AMMs will always be 'behind the curve' and lose value to arbitrageurs who buy from central books and sell to AMMs (even if bulls call it 'impermanent loss' it's a core feature of the system).
Algorithmic Stable coins = Only work in a world where the market perceives the paired asset as truly 'risk-free' (as evidenced by the Terra/Luna debacle). To date, the only 'risk-free' assets come with a multi-trillion dollar investment in an army, so unclear if there's really anything interesting there.
DAOs = Frequently show themselves as insecure, oligopolist, retail un-friendly organizations [0][1][2]
In short, be careful what you wish for, because at least by focusing on the SBF-cult, they're not doing the serious journalism needed to prove how atechnological most crypto projects are.
[0] https://twitter.com/thedaomaker/status/1425817683635802119 https://twitter.com/thedaomaker/status/1425817683635802119
[1] https://cryptoslate.com/solend-pays-users-to-vote-on-proposal-to-liquidate-whale-wallet-otc-and-avoid-bad-debt/ https://cryptoslate.com/solend-pays-users-to-vote-on-proposa...
[2]https://unblock.net/crash-of-the-high-yield-daos/ https://unblock.net/crash-of-the-high-yield-daos/