Eddy Lazzarin 🟠

@eddy

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77478 Followers

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In this episode, we tease apart the hype from the reality of prediction markets, but also go more deeply into the how, why, and where these markets work. We also dig into the design challenges and opportunities (including implications for builders) of these and other information aggregation mechanisms; and more. Where do (and don’t) blockchain and crypto technologies come in? What are some of the most interesting applications, both immediate — like for corporate decisions or scientific replication — and in the near to distant future, across trends like AI, DeSci, futarchy/ governance, and more? Check it out: https://a16zcrypto.com/posts/podcast/prediction-markets-information-aggregation-mechanisms/ w/ @skominers @smc90

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Honestly I love and value that so much.

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Why do we even have foundations in crypto? Do we really need them going forward? @milesjennings explains why we had them, and why we may not need them any longer.

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Full-stack security resources from our team. ⤵️ Personal and physical security for founders, operators, and investors: https://a16zcrypto.com/posts/article/personal-physical-security/ Crypto exchange ByBit got hacked for $1.5 billion — making it potentially the biggest heist of all time. Security expert Matt Gleason discusses how the attack went down, the state of crypto security, and what you can do to help protect yourself: https://a16zcrypto.com/posts/podcast/bybit-hack-security/ Security audit secrets to success: https://a16zcrypto.com/posts/article/security-audit-best-practices/ How to protect yourself after a personal data breach: https://a16zcrypto.com/posts/article/how-to-protect-after-data-breach/ Apple iCloud: Doing this 1 thing can help stop hacks: https://a16zcrypto.com/posts/article/apple-icloud-account-hack-recovery/

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What is causing the 🅱️ump? https://frame.weponder.io/api/polls/31603

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This is really cool. I think the trick with a `memo.txt` will be: more detail is better. It should be huge. Maybe an entire codebase. Full conversations or specs of different docs. Transcripts of meetings. Backgrounds of people, dictated by them. It should essentially be a book of information far larger than anyone would want to consume directly. The fact that the LLM can digest it for you and provide exactly the answer to your questions is exactly what makes it special. It's the "raw input" into a conversation between a person and a body of information, mediated by an AI.

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Introducing Native's memo.txt. It's a new kind of whitepaper - one meant for LLMs and investment agents. Simply copy paste into your LLM of choice and ask away! Inspired by @eddy, you can check it out at the link in the replies. There's also a human readable version.

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Jason Rosenthal

1/ Designing an effective token business model is one of the most important and least well understood aspects of building in crypto. Key to success is ensuring that the business model design aligns with and amplifies a product or protocol’s network effects and core user experience. @a16zcrypto CTO, @eddy demystified this process at CSX last week with a no holds barred deep dive on Tokencraft.

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ETH is that but another way to put it is that's a decentralized network-marketplace (DNM) for blockspace. Any time there's a DMN, there's an opportunity for a token. It's possible for the protocol to change over time. ETH has, and ETH's economic loop was only closed years after launch with EIP-1559 (via the burn).

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Given the rich design space for tokens, I've long wanted an elegant taxonomy for categorizing them. @eddy, @milesjennings, and @skominers have finally done it... evaluating tokens across their technical, legal, and economic dimensions.

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ETH, right? I don’t think the token needs to launch first, though. Either order can work but I believe token a bit later is ideal if possible.

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"Governance" and "utility" aren't real token categories. What matters is their built in and inalienable (inherent) properties. You can't pray your token into being seen as a "store of value". But you *can* create a decentralized network-marketplace with an integrated token that can be issued for incentives + capture fees for programmatic buybacks. This is a network token.

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The thing in common here isn’t “scarcity” per se but that each of these are decentralized network-marketplaces and on the right you are listing the goods they are selling. All network tokens are integral to a (decentralized) network (marketplace).

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No dividends — buybacks that burn tokens. And they don’t need to be turned on to start.

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Every network token should have an economic model, including the collection of fees that can be used for token buybacks. This helps sustain the value of the token, which can be continuously issued to pay for the growth or operation of the network's marketplace (SOL, ETH, UNI are all examples).

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New and improved Helios demo showing off Helios running on four separate networks all in the browser. https://helios.a16zcrypto.com/demo

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Eddy Lazzarin 🟠

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They’re different! /crypto is less price based, more analytical and critical /brypto is brypto

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Eddy Lazzarin 🟠

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Experimentation is good and we need more of it, particularly in apps in crypto. It's even better if experimentation benefits from what we've learned so far about tokens. A big lesson I've learned is that a network or token's technical properties are its destiny, economically. Much of "vibe" comes from function.

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