PaperImperium

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I wonder what legal advice the Flow chain people got to come to this decision to roll back the chain.
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Market cap flat-to up 15% over last 18 months
Price down 70-90% over last 18 months
⬆️ Describes most tokens
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It looks like 2025 will not break the undefeated streak for Worst Slow Rug: George R.R. Martin.
Last main series book was 2011. Just pay Brandon Sanderson to finish it like he did Wheel of Time at this point.
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As we approach the close of the year, what is the person/project/trend of 2025 for crypto? Remember that impact doesn’t have to be positive.
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I think the Aave dust up exposed it as a DAO dominated by its founder. But it’s still a DAO, with debate and multiple power centers.
Contrast with Sky moving >$60m out of the treasury into a pair of entities in August, neither of which answers to tokenholders. Was crickets.
There is a material difference in governance risk from the two power dynamics.
Aave has a king, but still relies on a decentralized network of local power brokers to operate Aave. Kind of like a feudal king, who is constrained by social contract and idiosyncratic conditions.
Sky, however, has successfully centralized into
AAVE-1,81%
SKY2,37%
post-image
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Merry Christmas 🎄
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Does Santa pay the tariffs or do my kids?
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People have asked why the Uniswap Foundation executive compensation is considered unusually high. Let’s compare UF to another large grants-giving organization: the Optimism Grants Council.
UF filings show they gave $9,992,919 in grants, and had $4,794,393 in employee compensation. Of that, $3,871,155 was for officers.
That’s $4.8m in employee compensation to deliver $10m of grants. Let’s be generous and assume the $2.8m of Other Expenses were supporting Uniswap on par with grants.
UF: $4.8m in comp to deliver $12.8m in spending in 2024
Optimism Grants Council in roughly the same time period ha
UNI3,63%
OP-0,8%
post-image
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People have asked why the Uniswap Foundation executive compensation is unusually high. Let’s compare UF to another large grants-giving organization: the Optimism Grants Council.
UF filings show they gave $9,992,919 in grants, and had $4,794,393 in employee compensation. Of that, $3,871,155 was for officers.
That’s $4.8m in employee compensation to deliver $10m of grants. Let’s be generous and assume the $2.8m of Other Expenses were supporting Uniswap on par with grants.
UF: $4.8m in comp to deliver $12.8m in spending in 2024
Optimism Grants Council in roughly the same time period had total gra
UNI3,63%
OP-0,8%
post-image
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Interesting to see how different parties react. AAVE price getting crushed, but Stani buying hand over fist.
AAVE-1,81%
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Fermat and Pascal first articulated The Gambler’s Ruin in the 1650s.
Pascal waiting on this concept to diffuse out to financial market participants after 370 years:
IN-5,08%
ON-4,42%
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This weekend I’ve been trying the “criticize in private, praise in public” thing at two projects.
Candidly, I will probably return to the Old Ways of “criticize in public, praise in private.” Seems like it yields better results.
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What problem are we solving? Why are we better than existing alternatives?
(The questions most crypto teams forgot to ask themselves)
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I wonder why, after all these years of no apparent consequences, Richard Heart finally decided to yeet 9 figures into Tornado Cash. Seems unnecessary.
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As an outside observer whose main interest in the Aave kerfuffle is professional curiosity, I feel like I’m missing context on why Labs is digging in so much over relinquishing brand assets.
When the Maker Foundation dissolved, it gave all social media accounts and websites to a neutral, standalone foundation (DAI Fonden).
It generally is unopinionated and defers to governance over who should operate such accounts or use the old MakerDAO and DAI marks.
It also has been pretty cheap, with single digit millions spent over the years - even when being involved in litigation.
So I am a little perpl
AAVE-1,81%
DAI-0,03%
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As an outside observer whose main interest in the Aave kerfuffle is professional curiosity, I feel like I’m missing context on why Labs is digging in so much over relinquishing brand assets.
When the Maker Foundation dissolved, it gave all social media accounts and websites to a neutral, standalone foundation (DAI Fonden).
It generally is unopinionated and defers to governance over who should operate such accounts or use the old MakerDAO and DAI marks.
It also has been pretty cheap, with single digit millions spent over the years - even when being involved in litigation.
So I am a little perpl
AAVE-1,81%
DAI-0,03%
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Is anyone yet aggregating the various attempts at gov token transparency rating (e.g. Aragon and Blockworks) so they’re all in one place?
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Ngl, reading Lord of the Rings to my kids today hits very different from when I read it myself as a kid.
A recurring theme is that the elves and dwarves are in terminal decline, with their kingdoms defeated or abandoned in the face of barbarism (the orcs) or returning to wilderness due to fertility-related population shrinkage.
This is contrasted with the realms of Men, where for all their challenges, they multiply and are not a receding force.
As a kid in the 1990s, the message to me was that Tolkien was foreshadowing a world that would ultimately be tamed and civilized by Men as the elves an
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Watching the Aave Labs vs Aave DAO conflict, my (outside) take is these are two groups acting in good faith but with very mismatched expectations and it will be complex to sort that out.
Now contrast that with all the DAOs where it’s just expected the DAO is a patsy who paid for the privilege. That’s a whole other ball of wax.
And just like in poker, if you look around the table and don’t know who the patsy is, it’s probably you. I wish more DAOs pushed back like Aave DAO is doing. There’s a TON of founders/foundations/DevCos that could benefit from some constructive criticism.
AAVE-1,81%
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It’s been a few months; what’s the latest on @HyperliquidX USDH? Seems like it’s $21m supply since Oct or is that wrong? Is it not fully launched? What’s the revenue share so far? Can I peek at the reserves?
I feel like I haven’t heard anyone mention it since the original RFP
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