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THE DAILY INDEX

Technology, AI, software, security, crypto and business

MARKETS & BUSINESS

TLDR Crypto

THE ETHEREUM GOVERNMENT - HOW CODE CHANGES ARE MADE TO THE WORLD'S MOST SPRAWLING BLOCKCHAIN

This report explains the processes and entities behind Ethereum's decision-making process. Ethereum's decision-making process is primarily shaped by social norms, not formal rules or voting mechanisms. Forums serve as a place of discussion and research, with nine main client team GitHubs hosting the software changes. Though core developers are the main gatekeepers, the trend has been towards consistently upgrading and modifying the chain to optimize toward an ideal endgame.

THE IDEAL CELEBRITY CRYPTO PROJECT

Vitalik Buterin is unhappy with this cycle's celebrity entrants in the crypto space, criticizing their purely financial and speculative intentions. He cites Ashton Kutcher and Mila Kunis' Stoner Cats NFT project, which funded a cartoon based on the IP, as the best example of celebrity experimentation. In his view, a respectable project should have a public good goal, fun mechanics, and be long-lasting, with the token price being the last concern for its users.

IN SEARCH OF TOKEN-MARKET-FIT

If tokens are the product, they flip the traditional model of creating value without capturing it first. Tokens serve as a prediction market for investors' interest in a project's direction and the likelihood it will happen, making them a narrative discovery tool and creating tight feedback loops for teams. Since tokens immediately allow teams to receive more capital for a proposed product, they act as a more efficient and faster version of VC funding. Memes are necessary to ensure sufficient and consistent interest and liquidity, keeping the project relevant and with an army of supporters.

THE BIG BANG OF STABLECOINS

Stablecoins are in the midst of becoming a massive industry. We may see thousands and potentially the first $1T stablecoin this decade. Even though fiat currency worldwide is experiencing inflation, the current fifth technical revolution means that there will be significant demand for niche products in the digital age. Stablecoins, many with different designs and developer composability, enable a big-bang moment leading to greater capture of the “broad money M2” market.

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