@jacob on Farcaster: "1/ Quote pairs are a new value..."

jacob

8mo

1/ Quote pairs are a new value accrual model for tokens

5.6Kviews

2/ Quote pairs are a model originally pioneered by Virtuals, the model is simple: When you originate new coins you set the quote currency as your own token. You token gate your markets and capture the net value of all of the coins originated. $ZORA uses this model today

jacob

8mo

3/ Quote pairing does not need to have any negative UX impact. Apps can use routing to allow users to still trade using whatever they have in their wallet. E.g. even though this coin is paired in $zora, users can buy using ETH, USDC or any other token.

jacob

8mo

4/ Quote pairing works in addition to a transaction fee model. This means that apps and labs teams can still generate revenue alongside this token model: this is a big deal. Transaction fees can be used to operate the team, drive rewards back to the ecosystem and buybacks.

jacob

8mo

5/ In the context of @zora—where we are tokenizing all content—it's likely that we can push this quote model much further to create new connections between content, memes and creators. Web2 has a social graph weighted by following $ZORA has a coin graph weighted by markets

jacob

8mo

6/ Zooming way out, crypto is unbundling money: - Store of value - Medium of exchange - Unit of account A common assumption is L1 tokens are the center of their ecosystems. With gas abstraction and quote pairing, perhaps that dynamic shifts with the rise of token launchers.

jacob

8mo

7/ We launched quote pairing with $ZORA just under two weeks ago. It's fully integrated into our app and teams like 0x are already routing through $zora natively now

zora

@zora

8mo

Update: + All new coins are paired with $zora instead of eth + Creators now earn their rewards in $zora + You can buy coins using $zora and $usdc + You can manage your $zora in the app Have fun :) https://t.co/OVYMQ209GU

jacob

8mo

8/ In the just under two weeks we launched quote pairing there are already over 47,968 markets quoted in $zora. Here are some other high level stats on Zora since we launched coins in February

jacob

8mo

9/ We're in a new era of experimentation for crypto at large. Quote pairing is an exciting new and cryptonative model that I'm excited about and will see how far we can push. I've been thinking about this for a while so I'm excited to be doing it.

jacob

@js_horne

Money is technology that functions as a medium of exchange. Solved a barter problem. Uniswap is literally a medium of exchange. We are getting closer to liquid barter. All we really need money for is “unit of account”

jacob

8mo

I posted this on @zora

yitong

8mo

i love this model. curious how generalizable you think this is? feels pretty specific to coin issuance platforms, but maybe i'm thinking too narrowly about it!

jacob

8mo

i think it's specific to token launchers, but i do think there will be an increasing number of successful and specialized token launchers

kaloh

8mo

This makes a lot of sense, specially since it can be transparent for the end user Also like how you conceptualise emerging models. Great for documentation and explaining the added value of blockchains/crypto over the old ways.

blankspace

8mo

custom quote pairs on the way??

clfx.eth

8mo

pls jakebum need higher pair ↑

Jacabum pls

my flower pls

should I quote my horse

chainstories

8mo

A new model for value accrual could open up exciting opportunities for growth and innovation in the ecosystem.

Zora scam

I think this was first done by Bancor but won't this result in your token movements being amplified based on the usage of your platform both in good times and bad? If trading dies down people will be selling out of the contentcoin but also $ZORA and price will fall regardless of how bright your future looks.

gigapunk

8mo

#Horse

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