Jason Badeaux

One of the most powerful features of crypto-economic protocols is their ability to create incentive structures that allow anyone in the world to permissionlessly contribute to a set of shared objectives. These incentive structures can be finely tuned to facilitate large-scale coordination to achieve specific goals. This represents a step-function... See more

A system is self-sustaining if it would continue to function normally in the indefinite absence of its creators.

Today, the blockchain is arguably a 10x+ worse consumer experience for anyone that hasn’t already been red pilled, but it can be 10x+ better in cases that rely on incentive alignment between large groups of people who don’t know or trust each other. This is the crypto mullet’s opportunity: web2 consumer products upfront, combined web3 technologies... See more

Blockchains are an alternative system for promise enforcement, fundamentally different from any system human history has seen before. Promises in blockchain systems are enforced by miners, who — in reasonably competitive mining markets — have limited ability, and weak incentives, to do anything other than execute others' promises roughly according... See more

The work token model captures ~100x more value than the proprietary payment currency model.How is this possible?If you instead use a utility token as a right to perform work on behalf of the network, it becomes valued at a multiple of the operating cash flows that the system generates rather than as a fraction of revenues paid to service providers.

Electric lighting, for example, did not simply replace candles and oil lamps on a 1-to-1 basis, but instead opened up entirely new residential, commercial, industrial, artistic, and scientific applications. Refrigeration did not just replace ice boxes on a 1-to-1 basis, but instead found new applications ranging from air conditioning and... See more