Tengji Zhang

Towards the end of my tour at Cabin, Jonathan leaves me with two sayings that Cabin’s core contributors (like him and Rafa) are trying to distribute among the community: “The DAO provides” and “Manifest your role.” He also leaves me with a sticker of their logo.

Algorithmic stable coin is not very reliable because the assumption about the underlying volatility assets could break once in a while. Consider Long-Term Capital Management.

Trillions of TradFi money is still trying to get into crypto. Fear of breaking regulation is slowing them down. Bullish for crypto asset.

Gives a brilliant and very cynical description of the Ponzi nature of yield farming in DeFi. Shed some light on how it is no so different from startups nowadays that keeps raising more money despite net negative return, as long as they have a grand narrative with a big promised profit at the end.

Reading feels like something I ought to do because there are just so many important things to know that I don't know and that feels problematic.

On-chain identity matter because current professional identities are uninformative and rely on trust instead of verification.

TradFi companies are trying to package together financial instruments other TradFi companies feel comfortable buying so that they don't have to hold crypto due to various regulatory complications.