Market Design Masterclass ft. Scott Kominers

We’ve outlined some core principles of social token design, but it’s equally important to complement such designs with product-market fit that intrinsically motivates users. For example, a play-to-earn game that focuses its efforts on enabling users to profit but that doesn’t get the “play” element right misses the point: that games are, first and ... See more

I think there will be both centralised and decentralised crypto. I’m not sure in what ratio. I suspect centralised crypto will be considerably larger, but decentralised crypto, if only as an alternative, could still be incredibly significant, because it will limit and constrain what centralised crypto can do, right, in terms of sort of implicitly t... See more

And so when people are designing these incentive mechanisms and tokens, what types of factors are they considering? Whether it’s things like fairness or liquidity or security or the developer ecosystem, or I’m sure there’s plenty of other considerations. But what do you find that people are thinking about and tend to value? For some of the differen... See more

I highly recommend reading the book, but wanted to take a stab at proposing some inflections that exist within crypto that have been top of mind for me.

The new existence of low cost global permissionless payment rails. For the first time you can now send or accept money from anyone on earth for fractions of a penny. With the improving UX of crypto ... See more

Yet these two roles are in opposition to each other. A token needs to be exchangeable in order to be liquid. But the more liquid a token is, the less effective it can be as a pure signal of reputation.