added by sari · updated 2y ago
Hyperstructures
- A hyperstructure can simultaneously be free to use and also extremely valuable to own and govern. This is a familiar value model that we observe for NFTs: the media can be universally free to consume, yet valuable to own and control as an individual or group.
from Hyperstructures by Jacob Horne
sari added 3y ago
- A great example of an Expansive fee is the Uniswap LP fee. LP fees incentivize participants to provide the key resource—liquidity. This fee is paid to anyone who is providing liquidity to a pool, it is not paid to Uniswap. LP’s expand the utility of Uniswap, they do not have a monopoly on providing that utility and an LP only captures value on what... See more
from Hyperstructures by Jacob Horne
sari added 3y ago
- But what does ownership mean in this context? The presence (and control) of a fee switch that can be turned on across the protocol. This creates a dynamic called the "threat of the fee". This means that owners of the Hyperstructure have the right to turn that fee on across the protocol at the base level at any time via a vote. It’s the threat of th... See more
from Hyperstructures by Jacob Horne
sari added 3y ago
- Hyperstructures can be simultaneously free forever to utilize and extremely valuable to own. This is possible because of their unstoppability. There is no cost to maintain and keep the protocol operational forever. Once deployed, it will work exactly as it’s designed with no degradation. For example, if the Uniswap team and website disappeared toda... See more
from Hyperstructures by Jacob Horne
sari added 3y ago
- It is now possible to create Hyperstructures that run for free, forever—so we should use that logical extreme as our starting point, not something we should avoid or ignore. With new paradigms comes new value systems, and with Hyperstructures we have the opportunity to create public goods that can remain free forever, whilst rewarding the builders ... See more
from Hyperstructures by Jacob Horne
sari added 3y ago
- Hyperstructures are entirely onchain, and are public goods which create a positive-sum ecosystem for any participants.
from Hyperstructures by Jacob Horne
sari added 3y ago
- By being free forever, there is no incentive for someone to 1-for-1 replicate the same functionality—since there is no additional value capture or risk minimization that comes from doing so. At a societal level, a hyperstructure only needs to be built once. This does not mean there isn’t an incentive to innovate, people will still have the incentiv... See more
from Hyperstructures by Jacob Horne
sari added 3y ago
- Hyperstructures are crypto protocols that can run for free and forever, without maintenance, interruption or intermediaries.
from Hyperstructures by Jacob Horne
sari added 3y ago
- The implication of being permissionless means that everyone can confidently build their own platforms, applications and economic models on top of the Hyperstructure without the risk of deplatforming. There are no API keys required, and no fear that a platform can suddenly upend your entire project on a whim.
from Hyperstructures by Jacob Horne
sari added 3y ago