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Thus far each cycle has burned categories of possibilities, which the market will have trouble dreaming about again.
In 2017 we said “the infrastructure is just getting built. Once we have cheap block space and other infra the blockchain will take over the world.”
In 2021 we said “once we get past an incredibly hostile admin that’ll allow crypto use cases to flourish.”
Will there be new reasons to believe crypto has a future? Probably, but each cycle of unfulfilled promises it gets harder I think.
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I asked a Ripple holder why I should invest in XRP.
They said “imagine being able to invest in SWIFT.”
To which I said “ok why would I want to invest in SWIFT?”
And they said “do you know how SWIFT works?”
And I said, “no, do you know how SWIFT works?”
And they said “no”
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I don't just think ens is important bc it's a way to make $$$. There are far easier, faster ways to make $$$ (I don't get the ens shillers for this reason).
But it's a verifiable mechanism for online authenticity linking wallets and social profiles without doxing irl names/ssns/etc....
And it already works out of the box. You just have to wait for more and more online utilities to integrate it, or for end records to become backward compatible with those utilities.
ENS is a huge deal.
This quoted post is unavailable.
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2 years later... This is why self-custody crypto is so important to freedom. The government can do heinous, immoral shit, violate the constitution, steal your savings, wrongfully imprison you, etc. and get away with it for YEARS before justice prevails.
cointelegraph.com/news/canad…
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Governments favor inflation. Case in point: Invest $100k in XYZ stock at 25, sell at 45 for $180k, barely beating inflation (3%). Despite no real wealth gain, you're taxed 20% on the 'gain'. Effectively, your wealth is transferred to the government. #InflationImpact #TaxPolicy
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Personally excited for the part of the cycle when net new use cases become the dominant narratives
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Today, we deployed Quest Protocol Rewards.
Now any dune wizard or data analyst can get paid for driving growth to third-party protocols, directly onchain
Here's how it works👇
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1/ Introducing Quest Protocol Rewards
Quest creators and referrers can now earn onchain rewards on Quest Protocol.
More rewards. More quests. More participation.
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𝐅𝐫𝐨𝐦 𝐨𝐟𝐟𝐜𝐡𝐚𝐢𝐧 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬, 𝐭𝐨 𝐨𝐧𝐜𝐡𝐚𝐢𝐧 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬, 𝐭𝐨 𝐝𝐞𝐜𝐞𝐧𝐭𝐫𝐚𝐥𝐢𝐳𝐞𝐝 𝐩𝐫𝐨𝐭𝐨𝐜𝐨𝐥
About a year ago, we decided to move the @rabbithole_gg business onchain and transition from offchain legal agreements to direct onchain revenues, taking a 20% cut on all quests that happen through the Quest Protocol smart contracts.
This has been an important move because it made it not only easy for anyone to deploy a quest, but ways to align incentives between customers (quest creators) and the company.
For example, we used to take 20% upfront. Now payments are only paid out when users complete quests, aligning incentives between quest creators and the company. If users don't complete a quest, nothing is paid out, so there is no downside.
We're now starting to enter the next phase of the protocol by taking the next steps towards decentralization. For example, the 20% cut will now be shared with quest creators 50/50, creating incentives for new participants in the protocol. Quest completions are now also generating fees, and are being distributed back to users who refer others to complete quests.
Up next, we're going to be launching our SDK and next version of the protocol to make it easy to deploy & embed quests from any interface, and make it easy for interfaces to earn by matching protocols to the right participants
This is the new coordination economy
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I wrote a piece on how Intents shift token distributions from airdrops (acquisition) to micro token drops (retention)
rabbithole.mirror.xyz/WGCQx7…
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🎉Category Updates!
ENS.Vision added two new official categories:
➡️1.000 Forebears First Names
➡️1.000 Forebears Surnames
Check out if your name is one of the 1000 most popular names in the world 👀🧡
Also read our medium article below👇
medium.com/@ensvision/ens-vi…
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The @tonegarden public beta is live!
>> tonegarden.xyz <<
What is Tone Garden?
Here’s a quick thread 🧵👇🎵
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Sneak peak of some alpha testing @tonegarden
Mint, sell, collect music as NFTs ✅
Player for your music NFTs ✅
Gamified music NFT trading ✅
Beta coming soon.
