Jon Charbonneau
@joncharbonneau
gonna start using farcaster again, might as well start with a controversial one lol one of my concerns with much of the Lido discussion is that it may degrade the credibility of social consensus as line of last resort (respect dannys & appreciate points btw, just using as example bc it got a lot of attention/EF RT)
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Jon Charbonneau
@joncharbonneau
taking the framing from @barnabe's seeing like a protocol (its awesome, read it if you havent) "Protocol credibility = Protocol introspection + Protocol agency + Defence of last resort by the community" https://barnabe.substack.com/p/seeing-like-a-protocol?utm_source=twitter&sd=pf
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Jon Charbonneau
@joncharbonneau
"Credibility is fully obtained whenever it is clear that the community is willing to defend the protocol’s preferred outcomes in the last resort, forcing the outcomes it cares about even at the cost of forking out part of the validator set."
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Jon Charbonneau
@joncharbonneau
It seems clear to me that the alarm bells re Lido surpassing 1/3 of stake for example has no such credible threat behind it - they're at ~1/3 now and nobodys going to be forked out here
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Jon Charbonneau
@joncharbonneau
Having this social consensus be a credible line of last resort is critical imo - this is fundamental to guarantees such as the threat of a fork to remove censoring validators in the case of "strong censorship" this was a credibly presented threat last yr imo https://twitter.com/ercwl/status/1561172692941869056?s=20
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Mark Tyneway
@tynes
Guess it's time to go get some pitchforks
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