Aug. 27, 2024: DeFi Take the Hindmost 👺⚔️
Hot Vitalik on DeFi Action
Obviously the big news around Curve has been the Swiss Stake grant request. As much as we’d like to give it full-court coverage on our fanzine, the legal red tape is quite sticky. In this context, the only opinion I feel comfortable sharing: if the proposal fails, the bespoke Curve devs would suffer the most in the process.
I get the chance to talk with the dev team every day. They work tireless hours. They're responsible for so much of the rapid progress Curve has made lately. They are keenly aware of the short runway, because they have so much at stake. Everybody is hard at work on solutions. Please give them a chance to keep building Curve!
Finally, thanks to everybody involved in this process, both frens and well-intentioned opponents. I know we all agree on wanting the best for Curve.
DeFi Take the Hindmost
The popcorn must flow…
Although his IQ is possibly higher than the sum of all his opponents, Vitalik spent the past week getting lectured by a horde of people dumber than him. (OK… maybe a couple are at or near parity…) Whenever Skinny V talks, we’re far left enough on the IQ curve to shut up and listen. Even if we disagree with his overall point, we’ll always wind up learning something.
We noted Curve, far further right on the IQ curve, also sidestepped the debate. Despite facing is own funding crisis, Curve nonetheless used the opportunity to stump for badly needed Vyper funding.
Curve committed early to building out the nucleus of its multi-century governance and emissions plan atop Ethereum. Despite occasionally clashing with the powers-that-be, Ethereum’s always proven credibly neutral enough to support Curve’s ambitions. A success story for Ethereum, whether or not it accepts the testimonial.
What if Vitalik is right, and DeFi is hot flaming garbage?
Our suspicion is that Vitalik possesses a deep and nuanced understanding of DeFi, but considers it politically advantageous to distance himself from a sector that’s highlighted the ugliest excesses of human greed.
Two books we recently finished, James Michener’s Alaska and Edward Chancellor’s Devil Take the Hindmost, add to this debate by offering historical parallels that leapt off the page.