Degen

Building /ambassadors and /base-ph. Warpcast is super fun. 

/project /bid /replyors https://newsletter.ambassadors.gg

I think in good times, you’ve got the flexibility to experiment and be generous, but in tougher market conditions, it’s important to step back, look at the numbers, and make sure what we’re doing really adds up. We probably need to tweak a few things to ensure every dollar is working in the best interest of the community. Designing systems that give away money freely should take a backseat to building systems that bring in inflows we can reinvest into initiatives that drive growth.

This is it 👏🏼

Use the market forces & ecosystem power for growth (during launch, hype) but adjust to changing market structure (when bearish, more farming, pvp) & never stay fixated on a running system as you likely leak value continuously (before nailing the ultimate system).

Bitcoin economics have been well-designed from the get-go but they are also flawed and it’s a wonder Bitcoin demand as first, top crypto outpaced the flaws until today.

Startups launching today have a much harder time to accrue mindshare & can’t leak too much value over multi-months or smart extractors extract & good allocators, contributors go elsewhere.

job: token analyst. Talk to me about football, sports, crypto, outdoors, growth, econ, investing, chess

That’s why I loved the small iterations in the early seasons.

Be generous to grow the economy in good times but don’t make it too easy for farmers, and don’t let them take over.

When this is kept in mind again, Degen supports its holders and continues to ship, experiment and work with the ecosystem - all will be good. (Though it’s an uphill battle to gain mindshare & buy-in again after losing it a bit)

Ps: Leaking a bit of value can enable ecosystem stakeholders like miners in btc or DeFi protocols or l2s in Ethereum - who bring in additional capital, stakeholders - but the mix of leaking value and getting value must be somewhat fair!