As an advocate of open market and capitalism, in the book The Road to Serfdom, P. A. Hayek claimed that the competition in the free market would be much better than centralized and mandatory planning because he believed the open competition was the only way to coordinate social activities and stay away from the autocracy and manipulation.
I agree with Hayek in the aspects of open competition, especially when you observed and participated in the Defi movement in the market recently, you will understand what the free competition can bring to us. …
Optimistic Rollup(OR), a promising Ethereum Layer 2 scaling solution, has gained a lot of attention recently with the test net launched and a bunch of industry-leading teams working on the applications.
But OR is still in a small circle of Ethereum fans and Defi degens. We MetisDAO as one of the teams in exploring OR, are quite convinced that OR is the treasure under-hunted. Besides the payment use case, OR can be applied to many other use cases, such as Collaboration Governance, which is MetisDAO working on.
So, we planned an online seminar to introduce OR and different use cases to the community. …
Optimistic Rollups (ORU) is a type of layer two construct that aims to provide low gas and high TPS simultaneously. Readers can read more about the details of ORU here. Earlier, Optimism has already released an alpha version of the OVM and a gamified demo partnering with Uniswap. Things look very promising.
However, when people look at ORU, most of the use cases focus on payments. An article from Kevin briefly studied how ORU can be used to improve collaborations on Ethereum. …
I guess the first question is, Why? Why should an internet community become a DAO?
If you are not familiar with the concept of DAO(Decentralized Autonomous Organization), please refer to this article from Vitalik for more details.
Simply put, DAO is a perfect structure to organize collective activities in the community, especially when most collaborations in the community are conducted distributedly, multi-disciplinarily, in random occurrence, and without a trust basis. DAO leverages Smart Contract on the blockchain to automatically implement contract terms to solve the trust issues. Also, contribution-based incentives can be allocated to activate the community.
However, DAO’s structure is not perfect and has some limitations for large scale applications. …
In 1987, W. Brian Arthur was invited to participate in a high-profile and very appealing seminar with nine other phenomena economists and ten physicists at a chapel in Santa Fe, where the cross-domain collaborations among these economists and physicists initiated the glory of Santa Fe Institute and Complex Economy.
Inspired by what cross-domain collaborations could achieve, Token Economy Institute(TEI) was founded at the end of 2018 in Toronto by a bunch of blockchain fanatics from Canada, the United States, China, and Isreal.
The mission of TEI is to study and practice Complex Collaborations with the help of blockchain and token economics. Complex Collaborations are so prevalent in our daily narrative that you might not even notice that when you take Uber, get your food delivered by Doordash, contribute code to an open-source project, join a volunteer group, or claim a task from a bounty website, you are getting involved in the Complex Collaborations. …
High APY won’t last long, Defi + upgraded DAO is the true future
Have you enjoyed the yield farming in the last couple of days? The price of COMP has jumped from $30 to $340 in just a week. And by supplying token assets on Compound, the lenders(of some tokens) could earn 20%+ APY (not counting the incentives COMP yet).
On Saturday, June 20, Compound has overtaken MakerDAO to become the largest decentralized finance protocol by total value locked according to data from DeFi Pulse. There is over $580M in cryptocurrency locked on Compound compared to $470M on MakerDAO.
It happened so quickly that people on Twitter kept comparing it with the ICO scam. Not to judge for that yet, let’s understand the mechanism of how Compound works first. …
DAOStack, Aragon, Moloch, Colony, Metis Protocol, and the new universe
Although human kicked off a quite challenging start of the year 2020, for most governance protocols of DAOs, they have made pretty great progress and gained a lot of attractions alongside with DeFi.
It was reported Tim Draper, the billionaire VC who has previously backed Tesla, SpaceX, Coinbase, and Baidu, has bought $1 million valued Aragon network’s ANT token on Feb of this year. And Moloch just launched its v2 and introduced LAO with pure money flowing within its blood. …
In my last article ‘Finance is not the future of blockchain, cross-domain collaboration is’, I elaborated that cross-domain collaboration is the fundamental layer to backbone value creation. The future of blockchain depends on how to build up the governance and management framework for cross-domain collaboration, other than putting all the fortunes into the uncontrollable decentralized financial applications. And DAC, which is a cluster for cross-domain collaborations, is the key to the whole framework.
When we focus on the study and architecture of the DAC, the methodology for launching various DApps becomes clear.
Once upon a time, the emerging of the blockchain seemed to initiate a parallel new era, a utopia of the Value Internet. However, now the tide has receded, Bitcoin and Ethereum, as the flagships of the blockchain, are still struggling to get out of the dark tunnel, and the difficulty of landing various blockchain applications still has not been resolved.
Is it because of the immature infrastructure of the blockchain? Or was it led in the wrong direction?
We believe that the maturity of a technology is a gradually cumulative process, which is not the root cause of the current status of blockchain development. The key to the problem is that blockchain projects are revolving around the finance too much at the cost of neglecting the governance and management of the most basic layer of the cross-domain collaboration. …
Contributed by Kevin Liu from Metis Lab
Well, if you remember, two years ago, blockchain was so hot a trending, a disruptive technology that seemed to be able to solve all the problems the world has. Still, just in two years, the blockchain fever has changed to “blockchain fatigue” as described by a report from Gartner, with the example that pilots have fizzled out, few implementations have gone into production, the report says that blockchain is likely to be a marginal technology.
In a recent interview, Don Tapscott from BRI showed his dissent with the above opinions and listed some examples of “hundreds of production systems underway across a dozen industries.” …