The Chopping Block

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The Chopping Block

The Chopping Block

@_choppingblock

Exploring today's crypto topics through the perspective of industry insiders @hosseeb, @rleshner, @tarunchitra & @tomhschmidt! 🤝 Streaming via @Unchained_pod

Katılım Ekim 2022
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The Chopping Block
The Chopping Block@_choppingblock·
New episode: @vnovakovski on the Robinhood deal, the eternal token vs. equity debate, a masterclass in how not to run a DAO, and the largest financial disclosure in presidential history. Timestamps 00:00 Intro 03:40 Tokens vs equity 06:12 Fiduciary obligations 08:00 What happens when buyback capital runs out 12:42 Why launch a token 19:18 Comparing VVV to BNB 25:28 Lighter's Robinhood Chain deal 37:02 BonkDAO governance exploit & the $20M vote 47:09 Trump's $2.4B disclosure 🔥Stay updated by following and subscribing to @_ChoppingBlock and @unchained_pod! 🎥 YouTube: youtu.be/uI6KYVyyjVU 🎧 Spotify: bit.ly/3wiIOyy 🍎 Apple: bit.ly/3w9HQ7J 🎙 Podcast Home: choppingblock.xyz
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Arjun
Arjun@clipsofcrypto·
"BNB is probably the closest analogy to this. BNB is clearly not equity in Binance. Nobody's confused about why BNB isn't voting on the fee schedule" Haseeb on the closest analogy to Venice's VVV token "Venice is genuinely weird. Not just because Venice is like a traditional company, it's not onchain, it's not a DAO. That's one of the reasons why VVV is weird, because it is an asset in the capital stack of a traditional company" "The other thing about it that's weird is that it's kind of like an overloaded asset financially. It's not just airline miles where you use this product and you get the compute. It also gives you some benefits on top of Venice, access to Venice Pro, but then they're also buying it back with their subscription revenue" "It's got Binance burning stuff, there's also BNB chain, they give you discounts, early access projects, airdrops. It's this weird sum of parts valuation thing to figure out what this is. Clearly Binance's success matters for BNB, but clearly this is not equity in Binance. This is some other thing"
The Chopping Block@_choppingblock

New episode: @vnovakovski on the Robinhood deal, the eternal token vs. equity debate, a masterclass in how not to run a DAO, and the largest financial disclosure in presidential history. Timestamps 00:00 Intro 03:40 Tokens vs equity 06:12 Fiduciary obligations 08:00 What happens when buyback capital runs out 12:42 Why launch a token 19:18 Comparing VVV to BNB 25:28 Lighter's Robinhood Chain deal 37:02 BonkDAO governance exploit & the $20M vote 47:09 Trump's $2.4B disclosure 🔥Stay updated by following and subscribing to @_ChoppingBlock and @unchained_pod! 🎥 YouTube: youtu.be/uI6KYVyyjVU 🎧 Spotify: bit.ly/3wiIOyy 🍎 Apple: bit.ly/3w9HQ7J 🎙 Podcast Home: choppingblock.xyz

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The Chopping Block
The Chopping Block@_choppingblock·
"I expect a lot of political pain coming. There is a lot in crypto that is hard to understand. This is easy to understand." "President made $2 billion from crypto and everybody who invested in it lost money. That feels bad." "That perfect equivalence between the two makes for just a really bad narrative for this whole ethics conversation."
Elizabeth Warren@SenWarren

Any crypto legislation that does not stop Donald Trump and his family from continuing to profit off of crypto is failing the American people.

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The Chopping Block
The Chopping Block@_choppingblock·
Tom: "I think this is kind of how everyone expected the memecoin thing to play out. It kind of sucks, and also, what did you kind of expect?" "People have sort of jumped the gun on assuming the worst. It's like, oh, it perfectly maps, like you sent the president a 2.4 bill." "If you read it, he has this royalty agreement with Celebration Coins, which started the meme coin. And the income is also listed for assets that you receive in kind." Haseeb: "You think he might be underwater post-tax, or what are you saying?" Tom: "No, no, I'm saying it's not as if literally people sent him $600 million in cash to purchase this meme coin, and then he took home $600 million." "It's more likely some blend of sales or LP rewards or however this royalty thing was structured, in addition to this in-kind realization. I'm guessing he covered his taxes on that."
Watcher.Guru@WatcherGuru

JUST IN: 🇺🇸 President Trump says he "didn't" know he made $1.4 billion from crypto.

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The Chopping Block
The Chopping Block@_choppingblock·
.@vnovakovski's technical answer to the fragmentation worry around the Robinhood deal “Moving capital around between the two instances with ZK is gonna be pretty much instantaneous.” “It's not the same as bridging from Ethereum to Solana.” “It's almost the same as if they were running the same order book on one market, other than being the same instance.” “Why would you even want separate instances? Different customer base, different stablecoin, but also different regulations.”
Lighter@Lighter_xyz

x.com/i/article/2074…

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The Chopping Block
The Chopping Block@_choppingblock·
Is Robinhood x Lighter a slam dunk or a liquidity trap? Haseeb: "A lot of these traditional fintechs and even banks are adopting stablecoins, and they're like, this is just better way to accomplish our business goals." "As opposed to some, we love decentralization virtue signaling. No, these are actually better products." Robert: "I agree the DeFi mullet is being reborn." "My only concern is the fragmentation of liquidity." "It kinda stinks to have to start from scratch and build liquidity in a whole new platform when you already have such a great base of liquidity in one market." Haseeb: "The fragementation are mostly people who are not trying to buy the same old stuff."
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The Chopping Block
The Chopping Block@_choppingblock·
Core of the American spirit 🇺🇸
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The Chopping Block
The Chopping Block@_choppingblock·
"The amount of people that were trying to front-run Saylor's buys. Every month he was buying 2 billion on the 14th and you just kind of knew it was going to happen" "everybody was just like, we get away from the dividend, let's just pile in and then pile out" "At this point the front-runners are out. No one's front-running buys anymore. And I think we're back to: who wants to buy this digital gold?" - @gametheorizing
@jason@Jason

Is he losing it?

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The Chopping Block
The Chopping Block@_choppingblock·
“There is no beef. I was just dunking on the guy Haseeb was quote tweeting.” “Stake your DeSci coin and maybe 1% of these assets goes to scientists. The other 99% goes to pay inflation for anyone staking.” “It's weird that the guy shilling DeSci coins is getting mad about someone getting paid. 99% of science investment goes to zero.”
Tarun Chitra@tarunchitra

The guy Haseeb is QTing shilled dogshit DeSci tokens (which were obvious and abhorrent ponzis) like no other and deserves to be pilloried with haste

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YuBWeqmF
YuBWeqmF@YuBWeqmF·
@_choppingblock @gametheorizing The stupidity of this statement by someone who’s supposed to know better should automatically trigger a reallocation of his obviously squandered neurons
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The Chopping Block
The Chopping Block@_choppingblock·
.@GameTheorizing's optimistic AI x DAO take “Historically no one has time to express their preferences. I don't vote, because a day in line isn't worth the infinitesimal chance I influence the outcome.” “But if I have an AI representing me, where I hold the tokens and just tell it my preferences and let it vote, that might make these things viable.”
Lefteris Karapetsas@LefterisJP

Absolutely to nobody's surprise Nick used 50% of the voting supply to vote down the onchain proposal to renew the Security council despite having abstained the offchain vote Can't let that sweet ~$500m go to anybody else than him and his company! And with that ENS DAO is dead

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The Chopping Block
The Chopping Block@_choppingblock·
.@gametheorizing talking about $ANSEM “The demand gets pent up for some stupid coin to speculate on, and then they get it, and it has this wave, and then it just goes under. It's like Mordor again. The evil has to grow again below the surface.” “That's cool that it's always there. The speculative fervor..."
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The Chopping Block
The Chopping Block@_choppingblock·
Haseeb: "I am skeptical when the consortium is too big. I'm almost more bullish if it's a consortium of like eight people or ten people. A consortium of 140 people is basically like, we all went to a concert together and we all signed a petition" Jordi: "It's the anti-Hyperliquid model. You go from 11 people to, like, everyone" Haseeb: "We later learned the banks actually weren't that committed to the Libra, and what they'd been asked to sign was pretty watery of, you guys agree to make a best effort to maybe do something if we put this thing together. And no one's gonna say no to that" Jordi: "Each of these firms needs to have a crypto guy, and that crypto guy needs a win every year. You have to show to the bosses, we did a partnership, we did something. I don't think it's a signal or a counter signal. That's just gonna be the default" Tarun: "It's gonna be like the UN if they really do 140. There's gonna be a security council, and it's really gonna just be that multisig. Everything else is thrown away"
Open Standard@openstandard

Introducing Open USD: a stablecoin built for the internet economy, designed by the businesses growing it. joinopenstandard.com/blog/introduci…

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Haseeb ＞|＜
Haseeb ＞|＜@hosseeb·
140 companies just launched Open USD to take on Circle and Tether. But can a consortium of that size actually work? Plus Saylor's comeback, memecoin season, and whether DAOs are dead--new episode w/ @GameTheorizing ⤵️
The Chopping Block@_choppingblock

Visa, Mastercard, BlackRock and 140 other firms just launched OUSD to take on Circle and Tether. Haseeb says it’s a signed petition. @gametheorizing says it lives or dies on the yield economics and revenue-share. Meanwhile, ENS proved a DAO is just one guy. Timestamps 00:00 Intro 01:07 The DeSci beef & Tarun’s crusade 03:30 Saylor’s Digital Credit reset 09:34 Is STRC still “Luna for suits”? 19:24 Open USD: 140 firms take on Circle and Tether 29:42 It's just a “signed petition” 42:13 USDC vs Open USD 47:01 The memecoin comeback and the $Ansem coin 51:57 ENS blows up the DAO 57:26 DAOs vs consortia, and can AI save governance? 🔥Stay updated with all the latest hot takes by following and subscribing to @_ChoppingBlock and @unchained_pod! 🎥 YouTube: youtu.be/lmC2IYA1-Pc 🎧 Spotify: bit.ly/3wiIOyy 🍎 Apple: bit.ly/3w9HQ7J 🎙 Podcast Home: choppingblock.xyz

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The Chopping Block
The Chopping Block@_choppingblock·
Visa, Mastercard, BlackRock and 140 other firms just launched OUSD to take on Circle and Tether. Haseeb says it’s a signed petition. @gametheorizing says it lives or dies on the yield economics and revenue-share. Meanwhile, ENS proved a DAO is just one guy. Timestamps 00:00 Intro 01:07 The DeSci beef & Tarun’s crusade 03:30 Saylor’s Digital Credit reset 09:34 Is STRC still “Luna for suits”? 19:24 Open USD: 140 firms take on Circle and Tether 29:42 It's just a “signed petition” 42:13 USDC vs Open USD 47:01 The memecoin comeback and the $Ansem coin 51:57 ENS blows up the DAO 57:26 DAOs vs consortia, and can AI save governance? 🔥Stay updated with all the latest hot takes by following and subscribing to @_ChoppingBlock and @unchained_pod! 🎥 YouTube: youtu.be/lmC2IYA1-Pc 🎧 Spotify: bit.ly/3wiIOyy 🍎 Apple: bit.ly/3w9HQ7J 🎙 Podcast Home: choppingblock.xyz
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Keşfet

@vnovakovski @hosseeb @tarunchitra @gametheorizing @toly @YuBWeqmF @GameTheorizing @dylandewdney