Web 3.0

Reminder: Web3 is about ownership, not decentralization. Decentralization is a requirement only for the legitimacy of infrastructure enabling internet-native, programmable asset ownership. This infra uniquely enables ownership as a keystone of UX, at internet scale.

How web3 data portability reduces the power of centralized services 🧵

The idea that token holders can passively extract rent without providing equal value to a protocol is unsustainable. In the long-run, token holders will likely need to be active network participants or assume some of the risk of the system to be viable. 1/