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SotN #44: Modeling Ultra Sound Money | Justin Drake
Justin Drake is a researcher at the Ethereum Foundation and is leading the charge of applied cryptography to the Ethereum network. This is the third time Justin has come on the podcast.
If you haven't yet, dive into our first two episodes with Justin, 'The Bull Case for Cryptography' and 'Ultra Sound Money.' This episode rolls out how we can understand Ultra Sound Money using data-driven models.
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State of the Nation #44: Modeling Ultra Sound Money
Guest: Justin Drake
This is Justin's third appearance on Bankless. His first, The Bull Case for Cryptography, went in-depth into cryptographic hashes and digital signatures, the basic tools used to build blockchains. The second, Ultra Sound Money, presented a thematic overview for the Ethereum economic engine. In this episode, we model Ultra Sound Money and what upcoming upgrades to Ethereum mean for issuance, supply, and staking vs. mining.
Justin recently released four models cover the granular data-driven details of what Ultra Sound Money Means. These models deal with Ether's three main cashflows: Issuance, Supply, and Collateral. Justin argues that with the massive efficiency improvements to the Ethereum Network with Proof-of-Stake, Ether issuance will decrease by upwards of 90% and will proportionally reduce sell pressure from miners. He posits that ETH's peak supply will be 120M total Ether, and EIP-1559's burning mechanism will eventually reduce the total supply of ETH down to 100M.
Justin also expects the APR for staking Ethereum to be 25% following the Ethereum 2 merge. We visualize what these numbers mean by combining the Ethereum Economic Engine metaphor, Triple Point Asset thesis, and viewing capital as having an inherent temperature. Cold ETH means that it is locked up, securing the network and/or reducing total liquid supply. Hotter ETH is that which is actively available for use, but much of this ETH is vaporized through EIP-1559's fee burn mechanism. Therefore, on both ends of the temperature spectrum, supply & issuance are optimized via staking and fee burn.
Every episode with Justin is a deep exploration of the technicals that back Ethere
...
https://www.youtube.com/watch?v=FQTZSb3Rc9I
If you haven't yet, dive into our first two episodes with Justin, 'The Bull Case for Cryptography' and 'Ultra Sound Money.' This episode rolls out how we can understand Ultra Sound Money using data-driven models.
------
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State of the Nation #44: Modeling Ultra Sound Money
Guest: Justin Drake
This is Justin's third appearance on Bankless. His first, The Bull Case for Cryptography, went in-depth into cryptographic hashes and digital signatures, the basic tools used to build blockchains. The second, Ultra Sound Money, presented a thematic overview for the Ethereum economic engine. In this episode, we model Ultra Sound Money and what upcoming upgrades to Ethereum mean for issuance, supply, and staking vs. mining.
Justin recently released four models cover the granular data-driven details of what Ultra Sound Money Means. These models deal with Ether's three main cashflows: Issuance, Supply, and Collateral. Justin argues that with the massive efficiency improvements to the Ethereum Network with Proof-of-Stake, Ether issuance will decrease by upwards of 90% and will proportionally reduce sell pressure from miners. He posits that ETH's peak supply will be 120M total Ether, and EIP-1559's burning mechanism will eventually reduce the total supply of ETH down to 100M.
Justin also expects the APR for staking Ethereum to be 25% following the Ethereum 2 merge. We visualize what these numbers mean by combining the Ethereum Economic Engine metaphor, Triple Point Asset thesis, and viewing capital as having an inherent temperature. Cold ETH means that it is locked up, securing the network and/or reducing total liquid supply. Hotter ETH is that which is actively available for use, but much of this ETH is vaporized through EIP-1559's fee burn mechanism. Therefore, on both ends of the temperature spectrum, supply & issuance are optimized via staking and fee burn.
Every episode with Justin is a deep exploration of the technicals that back Ethere
...
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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
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Is learning from frontline veterans your thing, anon?
Sam is a Partner at the organizational change and transformation consultancy, The Ready, and is co-stewarding The Ready’s efforts to contribute to DAOs and the web3 space more broadly.
Join us today as we dive in today as we explore the past, present, and future of DAOs and discuss the nature of structureless organisations as they evolve over time and react as they are subject to various different climates.
Take the green pill anon.
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Topics Covered:
0:00 Intro
4:23 Future of Organizing
7:50 The Ready Origins
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23:25 Defining Purpose
31:45 State of DAOs
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Resources:
Sam Spurlin
https://twitter.com/samspurlin
The Ready
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Murmur
https://www.murmur.com/
DAOs and Their Evolving Operating Systems
https://theready.mirror.xyz/gqDXVHQjY1bChb27CN4AzQU2O5t5dAQtY9HqaI7NS_Y
An Org Designer in the Land of the DAOs
https://theready.mirror.xyz/HXvvxlYHQWaPGLm3D2SbuJBECWMT3peSdJ-Hth6CrFo
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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
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Welcome Bankless Nation, to the Summer of Protocols!|
Summer of Protocols is an ongoing research and evangelism effort that aims to catalyze broad interest in the study of protocols as a first-class concept for thinking about the world.
To explain a little more about what Summer of Protocols is all about, we brought Tim Beiko of the Ethereum Foundation and Venkat Rao of the Ribbonfarm blog on the podcast. Additionally, this episode contains three short interviews with three of the 35 total Summer of Protocols researchers.
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TIMESTAMPS & RESOURCES
0:00 Summer of Protocols Explained
12:05 Sarah Friend
https://summerofprotocols.com/research/good-death
https://twitter.com/isthisanart
37:16 Timber Schroff
https://summerofprotocols.com/research/module-three/safe-new-world
https://twitter.com/tmbr_ss
1:01:52 Nahee Kim
https://summerofprotocols.com/research/re-move
https://twitter.com/AppNahee
1:18:44 Summer of Protocols Future
https://forum.summerofprotocols.com/t/blockchain-protocol-problems-braindump/223
https://summerofprotocols.com/research/sop2024
1:28:59 Closing
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Preston Van Loon
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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
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Web3 is decentralized social technology. But what are it's ethics?
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Take the green pill anon.
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0:00 Intro
7:53 Plurality Defined
8:25 Web3 Ethics TLDR
16:03 Foundational Systems
22:38 Degen Regen
28:17 Values Dissemination
34:17 Maximum Success Scenario
37:06 Closing Thoughts
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Resources:
Danielle On Twitter:
https://twitter.com/dsallentess
Glen On Twitter:
https://twitter.com/glenweyl
Read the paper: https://docs.google.com/document/d/1L4Au0J2JHed-CWhBjfxbWzd_1OlUW2vj/edit?rtpof=true&sd=true
Plurality:
https://www.plurality.net/
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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
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Guests: Eric Conner, Anthony Sassano, DC Investor
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What are the factors that contribute to bullishness on the Ethereum economy and ETH the asset?
We ask our guests how they characterize the relationship between Ethereum and ETH, the interaction between scaling Ethereum and EIP1559, as well as the potential for NFTs. All, of course, underpinned by DeFi applications making the magic happen.
Tune in to hear the bull case for Ethereum from good representatives from the Ethereum community
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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time we may add links in this channel to products we use. We may receive commission if you make a purchase through one of these links. We'll always disclose when this is the case
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Hypercerts.xyz with Holke Brammer | Green Pill #66
Holke Brammer is a research scientist at Protocol Labs.
Kevin and Holke discuss all things hypercerts—what they are, why they’re important, and the future of hypercerts might look like.
Take the green pill anon.
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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
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Anthony Sassano comes to the Friday Weekly Livestream with David and has an unscripted convo about the state of Ethereum!
Anthony on Twitter:
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Daily Gwei:
https://www.youtube.com/channel/UCvCp6vKY5jDr87htKH6hgDA
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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
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Sometimes, the frontier is at a crypto conference. One of the most prestige being, ETHDenver! We’re back with a handful of exclusive interviews with some of the most fascinating minds in crypto.
Wish you could make it to all the crypto conferences, but don't have the time? Don't worry, Bankless brings the frontier to you.
In this episode, we’re talking to Francesco Renzi, CEO and Co-Founder of Superfluid, the real-time settlement solution for the 21st century. Fran and David discuss how games are leveraging Superfluid, why Fran is bullish web3 gaming, and what the cross-chain Superfluid ecosystem may look like.
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Timestamps:
0:00 Intro
3:35 Superfluid Explained
4:02 Streaming Payments
5:06 Adoption
5:45 Games Leveraging Superfluid
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Resources:
Fran
https://twitter.com/FrancescoRenziA
Superfluid
https://twitter.com/superfluid_HQ
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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
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