Alex Wittenberg

Things could totally fall apart. But if history is a guide, we’ll wake up a decade from now to a market full of much higher numbers than we can reasonably wrap our minds around today. Some of the new market cap will come from today’s public companies, some will come from today’s private unicorns, some will come from existing startups that aren’t... See more

A decentralized brand is a fiction made real, an egregore, a self-sovereign entity that lives through the imagination and belief of many. One does not simply decide what a decentralized brand "is." It is not something that can be created by focus groups, strategists, and identity designers. Like Bitcoin, a decentralized brand has its own autonomy,... See more

In the context of a DAO, this primal Polarity expresses itself on two levels:

Most protocols will allocate a decent chunk of their token emissions to lp rewards. If you provide liquidity for the protocol, you can stake that liquidity to earn a steady stream of tokens.

A Treasury Committee is to be created consisting of 5 community-elected individuals from within Aave and Llama. The committee will help shape how the treasury is managed, as well as ensuring there is open and transparent communication and alignment across the broader Aave ecosystem. The standard ARC and AIP process will be followed for all treasury... See more

Co-ops often emerge as an attempt to respond to market failures and exploitative economic systems. They are designed to bring benefits to their members: good jobs, dignity, and collective agency. Because co-ops are motivated by serving members’ needs, rather than profit, they are often guided by racial and economic justice missions. There aren’t... See more

You didn't pay in subscription fees but rather in agreed-upon inflation. The circulating supply of BTC grew by 0.15% and your holdings' purchasing power was diluted as a result. This newly minted bitcoin was given to miners as block rewards and helped secure their holdings. Block rewards are a form of revenue for miners, and they’re critical to... See more

We can now measure and analyze dimensions of personal and social life that we wouldn’t even have thought to measure a decade or two ago. It was always theoretically possible for us to count our steps, but altogether impractical. Now we can have it done for us passively. Indeed, as most of us know all too well, all manner of information about us and... See more

We would recommend that illiquid investments be limited to a maximum of 50% of the treasury portfolio at any particular time, which is in line with the mean endowment allocation to illiquid alternatives. In practice, we would expect illiquidity to remain much lower than this maximum.