polynya pfp
polynya
@polynya
Tangentially, all other value accrual mechanisms in crypto should be minimised to remain competitive with non-crypto solutions Fees, commissions, margins, and yes, tokens, all of that needs to tend towards zero Tokenless, governanceless, intermediariless, non-profit protocols are the true USP PS: only applies for valuable 3-5 usecases where strict global consensus is useful, for everything else non-crypto is simply better
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polynya pfp
polynya
@polynya
(Should have mentioned MEV specifically - that needs to tend towards zero obviously)
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ruhum
@ruhum
Governance-less yes, but non-profit will cause issues imo. Who’s going to build the next big protocol without the financial incentive?
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albi is /nervous
@albiverse
what are use cases you have in mind besides sov? trying understand what you mean as i feel there’s a lot of down to earth truth in it
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albi is /nervous pfp
albi is /nervous
@albiverse
/microsub tip: 659 $DEGEN note: we are sending tips to all Nominees today due to recent issues with official allowance data. we will return to our normal 3-day rotation tomorrow.
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albi is /nervous pfp
albi is /nervous
@albiverse
/microsub tip: 2510 $DEGEN
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1𝐴35𝐸1
@1a35e1
Hard to imagine some use cases without governance. In a adversarial/reflexive environmental you need the ability to adapt. ps. Sent a DM.
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Cy Winther-Tamaki
@tamaki
What do you think of Sam Kazemian’s “commodity premium” thesis? a call to stop modeling eth value using cashflows the way businesses are valued and more as a product in and of itself. https://x.com/samkazemian/status/1850680110699180116?s=46
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glbkst
@glbkst
there might not be many use cases but a smart contract requires no own server this can be cheaper. The global consensus is then necessary only for scaling, which might seem strange, but not all apps require high TPS. Very low for most NFTs, but still globally accessible. Different kind of scaling. So it might be the opposite, not value or any kind of "digital money" but small apps or parts of apps.
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Rishat
@rishat84
Ilnar
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Caster Cat #648 🎩🧾 pfp
Caster Cat #648 🎩🧾
@ariansh.eth
Tokens are powerful incentive mechanisms seems unrealistic and uncompetitive that this would go away and some protocols require a token to function Ethereum, bitcoin, Ajna, synthetix, etc. (although it might not necessarily need its own native token)
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Cp60
@cp60
🤔
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