Speed ​​reading | MakerDao's next decade; introduction to token economics and incentive design

Today's content includes:

1. Coin and large customer and institutional customer questionnaire report

2. Instagram vs Pornstar, a war on a centralized network

3. MakerDao's next decade: a conversation with Rune Christensen

4. Introduction to token economics and incentive design

5, when choosing the correct block size for Bitcoin

Coin Amway Customer and Institutional Customer Survey Report

This is the Insights Agency Market Report (Second Edition) from the Chancell Research Institute. The name may be vague, but you can understand that this is the market research and communication conducted by the company on the customer, exploring the institutions and large-scale in the cryptocurrency industry. The latest insights from VIP customers. The report is still quite detailed, and the questions of the questionnaire have also been issued. The specific points and conclusions are as follows:

  • In the second survey, Binance Research analyzed the types and perspectives of the most important VIP and institutional customers who have been using the services offered in the Binance ecosystem.
  • More than a quarter of the respondents of Institutional and Large Clients have more than 7 years of traditional financial experience, and the vast majority of respondents have worked in the field of cryptocurrency for one to three years.
  • 54% of respondents maintain their cryptocurrency portfolio between 1-10 tokens.
  • Although its continuing legal problems are considered to be one of the most significant risks in the industry, USDTether (USDT) remains the most widely used stable currency (40%) due to higher liquidity and market capitalization than its peers. .
  • Regulations remain one of the important aspects of concern, both as a future risk to the industry and as a potential growth driver. At the same time, participants see product complexity as a positive factor, as ETFs, derivatives and brokerage services are considered to be the potential growth drivers for the crypto-asset industry.
  • Customers believe that Libra and the central bank's digital currency will not pose risks to the industry, and many customers even see it as a growth driver. Customers are less interested in the subject matter of privacy (anonymous currency), and decentralized exchanges and lending services do not appeal to most of these large customers. On the contrary, staking has caused a lot of interest.
  • Finally, institutional and VIP customers believe Bitcoin maintains a significant market dominance (69%) by the end of 2019, which echoes their concerns about the altcoin market.

Full text link: https://research.binance.com/analysis/institutional-insights-2nd-edition

Instagram vs Pornstar, a war on a centralized network

Instagram deleted a large number of ** star accounts, which triggered a wide debate. The main reason is that many people think that Instagram has different standards of restraint and social celebrities.

The main problem is that in these accounts, many of them are normal life photos or interactive posts with fans, and posts and accounts have been deleted, and many celebrities who have more explicit photos are nothing.

A female star said that “people who invest in us don’t understand that our income will be affected, or they don’t care. They think we should not do this work, or should not exist in the world.”

The technological revolution opened up new channels and allowed many porn stars and sex workers to use the web, subscription services and independent operations from the media. Many practitioners use Instagram to showcase themselves and promote their own personal brands.

Adult stars and *workers are not the only people affected. Writer, poet and artist Rachel Rabbit White was removed for sharing photos because she hosted a gay job at the Leslie-Lohman Museum in New York. The exhibition of revolutionary art.

The pole dancer and blogger Bloggeronpole is one of the founders of EveryBODYVisible, and Instagram has taken restrictions on the theme label of the pole dance this summer. Tags such as #poledancing and #femalefitness return zero results in searches over a period of time.

Under the ban, who decides what we see?

Full text link: https://www.bbc.com/news/blogs-trending-50222380

MakerDao's Next Decade: A Dialogue with Rune Christensen

This is an interview with Jason Choi of Spartan Capital on Rune Christensen, founder of MakerDAO. The content of this interview is still placed on the multi-asset mortgage that has attracted more attention recently. The following is a streamlined version of the interview:

Why is multi-asset mortgage token important for Maker? Only by allowing collateral types beyond Ethereum (and possibly cryptocurrencies) will we be able to create stable currencies that can be extended to serve the entire global economy.

Are you still considering the assets of the traditional financial sector as collateral? Of course we have to go beyond a fairly niche cryptographic asset, and it doesn't necessarily mean you need to start interacting directly with the concepts in the "real world," such as securities, commodities, tokens, or real estate. More importantly, we need to make sure that Maker does handle risk.

Will it damage decentralization? The key is to spread the risk. You can even say "centralized decentralization."

When can I see traditional assets as collateral? We will begin to vote on assets, but it is very important to develop slowly. At present, we can rely on ETH as the core driving force for stability and fundamental value. We are not eager to use a lot of real assets today, and come slowly.

What do you think about KAVA and cross-chain? Very interesting new mortgage route. But I don't think it's so important, because when it comes to reliable decentralized collateral, I think ETH is king. In terms of importance, the only thing that can get close to Ethereum is Bitcoin, but the gap is still very large.

How does Dai compete with the release of Libra? The advantage of DeFi over veteran players is that DeFi is a neutral and fair playing field.

Full text link: https://medium.com/the-spartan-group/the-next-10-years-for-makerdao-a-conversation-with-rune-christensen-fe93e35e4960

Introduction to token economics and incentive design

Introduction to token economics and incentive design

This is a very detailed article on the economics of tokens written by Richard Li, the chief operating officer of the famous node service provider Certus One. It explores the various economic mechanism designs that are being tested and implemented. The article provides other fields. The examples and insights of the ecosystem (such as the economy in the game) can be regarded as an introduction to the economics of tokens.

He mainly pointed out that previous academic research on traditional economic themes (such as valuation, stocks, leverage and pricing theory) was insufficient when applied to the new token economic system. Traditional economic theory cannot explain the full value created by the Web3 ecosystem.

Four generations of token economics: The first generation: a simple, straight supply curve driven by speculation and trading volume. This type of agreement includes Bitcoin, Litecoin, Dogecoin, and other protocols that use the Workplace Proof (PoW) consensus mechanism.

The second generation: The second generation framework introduces new mechanisms, trying to create more stickiness (reducing churn) and more stakeholder interactions. Representatives include ETH2.0, EOS (DPoS), DCR, etc. This generation of agreements typically uses only one or two levers to influence token economics, the most common of which are governance and changing block rewards.

The third generation: the generation of the token economy model uses two or more attributes (circulating funds pool, vault, destruction, etc.). Ethereum can also be considered the third generation, and Ethereum will have more of these explorations in the future. ,

The fourth generation: The fourth generation mechanism not only represents the expansion and optimization of the third generation mechanism, but also represents the bridge between traditional equity and assets entering the ecosystem (not the securities token).

The economic mechanism design includes:

  • Time Scale
  • Inflation and deflation and fixed supply
  • Currency flow
  • Allowance and reward pool
  • Token burning and attenuation mechanism
  • Insurance and working capital pool
  • Interoperability (cross-chain)
  • Governance
  • Basic economics

The original text explains the principles and examples of these designs. It is worthwhile to look at the economics design of tokens.

Full text link: https://therichardli.com/token-economics-and-incentivized-crypto-economics-mechanism-design/

When choosing the correct block size for Bitcoin

The Bitcoin community has been arguing about the correct size of the entire block. Two years ago, these controversies led to a larger block of bitcoin cash selection and a bitcoin core choice to stick to the 1MB block. However, although many members of both communities seem to have many misunderstandings in choosing the appropriate block size.

Let's review the most common misconceptions about Bitcoin block size.

Blocks will never be full. No, a predictable size limit is needed to maintain the integrity of the network. Large blocks will greatly increase long-term costs. Although some people may think that increasing the block size will "centralize" Bitcoin because it increases network overhead, in reality, block size is a fairly incomplete indicator in terms of economic overhead.

Wallets should be smarter to avoid a bad user experience. While it is true that the wallet should avoid bad UX, Bitcoin still lacks the core of its evaluation of whether the deal will be incorporated into the appropriate means or not in the next block.

The pool should produce X megabytes of blocks. (Replace X with 8, or replace 32 or 128 with your affiliation). As of September 2019, since August 2017, the 90-day moving average of the Bitcoin block has not exceeded 400 KB, and the average block size has been hovering around 200 KB during the two years.

Some other ideas about the bitcoin and the block about the author, about Blockstream, about Liquid, the idea and Avalanche's point of view is not bad. You can have a look.

Full text link: https://blog.vermorel.com/journal/2019/9/17/on-choosing-the-right-block-size-for-bitcoin.html