Ignas | DeFi

@ignas

182 Following

2023 Followers

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Did you see Murad's new video posts? That's the web3 message we send

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Programmer of Web3 sounds cool tbh

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I work onchain?

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True but bubbles can be good (although a lot of capital is wasted) https://www.goodreads.com/book/show/205307264-boom

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yeah but tech and IT is ... not what we represent :)

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For sure! (After my hay fever is gone lol)

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Why does saying "I work in crypto" feels so cringey and awkward? Feels like the "crypto" word itself is too loaded, meaning scams, get rich quick, and 'crypto bro' culture. I think we've had it great with the Web3 storytelling. It was the strongest narrative we've had: Web1: "Read-Only" -> Web2: "Read-Write" -> Web3: "Read-Write-Own" Yet 'Web3' isn't trendy anymore. I don't use it myself much. It's like after the Metaverse, GameFi, and NFT bubbles we stopped pushing the 'Web3' story, because.... it got cringey as well? But I think Web3 is the single best narrative that unifies what crypto has to offer. Even more now than in 2020-22 bull cycle due to AI. The value of censorship resistance, user ownership, and privacy is important to many. Yet, most people view crypto not as a solution, but as a step toward a dystopian future. We're terrible at selling crypto... I mean the Web3 vision to the masses. Maybe I should push the Web3 term once again.

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WOW I WAS THERE YESTERDAY

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hahah thanks for the honest answer. I always thought you would launch a token :( Token is better than no token loll

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Oh, so integration is in the wallet and mini apps! Understood. So you can add all the chains in the world. btw, so Snapchain won't have a token? :((( just kidding i know you wont maybe answer this one :)

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Seriously, how will Farcaster work with Monad, Base and Snapchain? Confusian of da higest orda lol

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Sounds freaking amazing but here's a big question: Will users flock back to the L1? Active addresses haven't grown on Ethereum for years. Bad UX (approve+swap), slow and expensive txs are the main reasons but issues are being addressed (Pectra!) So for ultrasound narrative to come back we need to see users and activity coming back to the L1. It's a big pivot from pushing users out of the L1 to L2s. Tbh, I do want users to come back, but it does put pressure on non-specialized L2s. In any case, the following months and years are crucial for ETH: will users come back to the L1 and devs build new use cases on mainnet? And if yes, will increase activity burn more ETH despite lower fees? For the sake of my bags, I hope so! As always, let me know what I might be missing here.

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$ETH ultrasound narrative is dead! Or is it? As EF scales the L1 and $ETH pumps, the ultrasound narrative is coming back. What a surprise :) I'm not the first to write about it, but the market is yet to internalize the message. The logic goes like this: Gas limit (now ~36M) could hit 150M, boosting L1 scalability. Critics would say "oh that's bad, because lower fees burn less $ETH. Buy my alt-L1!" That's the old thinking. True that more txs per block = lower fees, but more activity could mean more ETH burned. Higher gas limit → more txs outweigh lower fees → potentially more burn. As @hanni_abu calculates, "at 36M and the deflationary threshold it 14.5 gwei. At a 300M gas limit the deflationary threshold becomes 1.74 gwei (14.5gwei*36M/300M)." He also adds that as gas prices drop, users are more willing to pay higher fees during congestion: E.g., at $0.01, a 100% premium to $0.02 feels more acceptable than jumping from $5 to $10. Lower prices make people less sensitive to congestion fees.

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New blog post: Crypto's New Realities: • HODL is Dead • DAOs are LMAOs • Bye DeFi • Rot in Private markets • Hyperliquid Read it here: https://www.ignasdefi.com/p/cryptos-new-realities-hodl-is-dead

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Why I believe that Ethereum's last resort narrative is a "pivot" to a Bitcoin L2. https://x.com/DefiIgnas/status/1918284246440984626

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Although i still can't claim airdrops on browser and need to use mobile app

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Wallet on browser is so freaking awesome! I can't even... So bullish.

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Good point. But you can’t be left behind

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DeFi’s Next Evolution: How Protocols Become Platforms Featuring Fluid DEX v2 launch: https://x.com/DefiIgnas/status/1916041754169557492

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They said bitcoin original vision failed

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