As an archaeologist, I typically leaned towards the stationary bandits vs roving bandits theory of state formation. Like most humans, I enjoy having my priors confirmed, so I enjoyed learning about this paper

But what does it do? Is it a memecoin or does it do something? Anyone know?

Very cool to see a push in this direction. It’s good for insiders, too! Because then you can actually buy/sell something when you are no longer sitting on material nonpublic information. Making MNI into public info is good for everyone; bad only for those whose sole edge is MNI

What can we say? Governance drives madness. 🥴

If you want a gold-backed USD stablecoin, I believe the Kyrgyzstan Ministry of Finance is about to deliver one to you this summer

What really grinds my gears are zombie crypto companies. Raised money in 2017/18, failed to find PMF and then failed pivots, and instead of dissolving the company and distributing remaining capital, the team collects fat paychecks while shipping vapor until runways ends. They

Foundations & founders are the natural predators of DAO governances. Which makes everyone poorer A farmer who leaves half his field fallow can’t expect a full harvest. Foundations & founders should see governance as an asset to be deployed, not isolated Partnership > predation

That has got to be the quickest depository institution failure ever. Even insolvent DeFi farms usually last longer than that.

Something DeFi folks should remember: recovery has a cost, and just because you’re owed money doesn’t make it magically appear.

Is anyone aware of a tokenized muni bond fund? I’ve not seen one yet, but would love to make sure I’ve met them if so

This is a spurious claim. Firstly, Reinhart & Rogoff focus on debt intolerance vs debt levels. Secondly, Japan, Singapore, and Italy all have >130% debt to GDP. So no, default, devaluation, or hyperinflation did NOT occur every time. This is so easily fact checked, too…

This was a project in very rough shape & failed on- and offchain liquidation of the tokenized property assets to wind down. Really interesting to see how trust assumptions affect the likelihood of recovery of assets bridged from L1 vs laterally