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Connor McCormick ☀️ pfp
Connor McCormick ☀️
@nor
Help me be wrong about Index Wallets .22 ETH Everything you should need to know can be found here: preprint.indexwallets.org This bounty has various sub-bounties, when the money is used up it's gone. See next cast for sub-bounties @bountybot
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Connor McCormick ☀️ pfp
Connor McCormick ☀️
@nor
Bounties on .22 ETH: 30% - index wallet economies don't settle to a shared valuation at steady state 25% - index wallet don't have wealth equalizing dynamics 100% - index wallets can't be used to fund public goods 100% - there's a way to evade the voluntary taxation* 5% - they don't favor local businesses
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Connor McCormick ☀️ pfp
Connor McCormick ☀️
@nor
*index wallets can't be used to fund public goods* Show that it's not actually feasible for index wallets to be used for funding public goods. Assume that an economy has high adoption of index wallets and a public good some subgroup cares about, make an argument that that's insufficient for the good to be funded.
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Connor McCormick ☀️ pfp
Connor McCormick ☀️
@nor
*index wallet don't have wealth equalizing dynamics* In an economy with high adoption of index wallets and a steady creation of new public goods currencies, make an argument that this doesn't actually lead to wealth equalizing dynamics. Wealth eq means the gap between rich and non-rich shrinks.
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Connor McCormick ☀️ pfp
Connor McCormick ☀️
@nor
*there's a way to evade the voluntary taxation* The assumption of index wallets is that they tax you using incentives based on your private belief of your wealth. Show that doesn't work there's a scheme for a player to evade voluntary taxation by moving money around.
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Connor McCormick ☀️ pfp
Connor McCormick ☀️
@nor
*index wallet economies don't settle to a shared valuation at steady state* It's thought to be likely, and maybe important, that index wallet economies tend to settle to a shared valuation for everyone in that community after the economy has run for long enough A person is "in" an economy if they both buy and sell
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Connor McCormick ☀️ pfp
Connor McCormick ☀️
@nor
*they don't favor local businesses* Some of us believe that index wallets are likely to make local businesses more competitive than nonlocal businesses (multinationals or just from out of town). Earn .011 ETH to show this is not the case
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Connor McCormick ☀️ pfp
Connor McCormick ☀️
@nor
If you have any questions about these or want to share a draft to get early feedback, please let me know
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Degenlegion.com pfp
Degenlegion.com
@degenlegion-com
Index wallets may not inherently favor local businesses over non-local or multinational entities because the valuation and rewards systems in these wallets are driven by the perceived impact or value of a public good rather than the geographical location of the business. Larger or well-established entities may have more resources to create or promote impactful public goods that align with wallet incentives, attracting more endorsements or transactions. Without specific mechanisms to prioritize local businesses, index wallets could inadvertently favor larger, non-local entities that can optimize for the system’s incentives.
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