Tengji Zhang

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.

Solana

• Smart contract platform without  sharding or Layer 2s


• "Blockchain at NASDAQ speeds"  (actual original pitch deck tagline)

When to read: morning, evening, eating, walking.

“If you look at a typical company, the founders and investors own 80-90%,” he goes on. “All of the employees own the other 10-20%. It doesn't make sense. It's not who is producing most of the value. We wanted to flip that model on its head. With the DAO, the community controls 80% of the tokens; the founders and strategic partners control 20%.”

Governance Participation: Identity information generated through on-chain governance participation. It tells us what does the individual involve with.

How to process a book: 

• Jump mid-way through and ask do I want to have got here. If the answer is yes then read from start more carefully.

“All the successful DAO founders I know weren't trying to start a DAO in the first place,” Hillis tells me after more sips of tea. “They were just self-actualizing in a community and that’s what came out of it.”

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