On Falling Down the Rabbit Hole

Enduring on-chain products will measure twice and cut once. While blockchains don't have to be financial, today's market has put a price on almost every token, contract code is public, and the future of crypto regulation is unclear. Because of this, the products that will make it through waves of scammers/hackers, downswings in token value, and pot... See more

Product functionality is not the moat: the moat is the community and the brand. The more open source a product is, the more easily it can be forked. Protocol products are basically open source software. This can be seen with OlympusDAO, which already has at least a dozen forks at time of writing. While the forks do very similar things, OlympusDAO's... See more

Because we're so conditioned to think in other ways, we're still figuring out how to apply these new abilities.

-Groups of strangers can come together to make decisions without needing to trust each other, which takes middlemen out of the equation.

-We can take context from one app to another, which creates a shared pool of state online. However, in web3 world, because the context is at the wallet-level, which is global and not tied to any specific piece of software, anything that happens on-chain is shared with everyone. Let's say that REI wants to create a limited edition tent that is speci... See more

-We can create digital tokens, which enables us to design financial incentive structures for products on the web.