What could save crypto from bears?
1/ Last month we launched part 1 of the "bear necessities" series, evaluating trends that could catalyze the next bull market.
— Messari (@MessariCrypto) September 7, 2022
With the same framework in mind, let's assess the infrastructure trends that could catapult crypto out of the bear.🧵 pic.twitter.com/nTk3DPZuMN
2/ A new batch of Layer-1s seeking to solve crypto's user experience and scalability challenges.
— Messari (@MessariCrypto) September 7, 2022
These upstart Layer-1s are more specialized than their predecessors and can thus offer much faster execution, lower transaction costs, and specialized components. pic.twitter.com/WeUQMFIzQ6
3/ Modularity is gaining attention on both a functional basis and a chain construction basis.
— Messari (@MessariCrypto) September 7, 2022
Functional modularity, popularized by rollups and @CelestiaOrg, involves creating standalone chains to each handle a different core blockchain function. pic.twitter.com/SpHg1WQdTc
4/ Unlike the modularity trend, @ethereum-specific rollups all use Ethereum as the base layer instead of using a modularized base layer.
— Messari (@MessariCrypto) September 7, 2022
Like many of the other infrastructure trends, the goal is to make on-chain transactions cheap and scalable while maintaining decentralization. pic.twitter.com/hDGsCb9zDy
5/ Instead of scaling the base chain, Web3 Infrastructure protocols work by building out networks of physical services.
— Messari (@MessariCrypto) September 7, 2022
The thesis of Web3 infrastructure protocols is that censorship-conscious dApps will need decentralized infrastructure to power their critical functions. pic.twitter.com/5HXpOO5cmM
Comparison of Move and Solana’s Rust Language
The ultimate Move article is here!https://t.co/f7P2c41xro
— kklas (@kklas_) September 6, 2022
It's an in-depth look into Move, a novel programming language for smart contract development, and how it compares to the existing Rust-based model used on Solana. pic.twitter.com/9eaaFmHH1N
It's a result of a full month worth of research and contains deep insights on Move you'll not find anywhere else.
— kklas (@kklas_) September 6, 2022
It involved me reading a bunch of whitepapers, creating prototype smart contracts, and getting answers on the details of Move's design from @b1ackd0g directly.
This article clarifies all the ambiguities surrounding Move present in the current discussion. Including what are its benefits over Solana's programming model and how difficult it would be to bring Move to Solana and why.
— kklas (@kklas_) September 6, 2022
Table of Contents pic.twitter.com/mj7lVE049J
— kklas (@kklas_) September 6, 2022
Chapter 2. is a summary of Solana's programming model while chapter 3. introduces Sui Move and its programming model. Chapter 4. then goes on to explain how the type and resource safety work in Move.
— kklas (@kklas_) September 6, 2022
The significance of Move's features on smart contract development is not immediately obvious, so in chapter 5. a more thorough comparison between Solana and Sui Move is done using real-life examples.
— kklas (@kklas_) September 6, 2022
Most NFT models are broken
Most NFT distribution models today are broken.
— Teng Yan ⛩ (@0xPrismatic) September 6, 2022
🔸 Large supply goes unminted
🔸 Extreme price volatility after mint
🔸 Slow bleed after initial hype wears out
Here's why and what we can do about it 👇 pic.twitter.com/pxQPquuBaG
/2 In many new NFT launches, all of the supply is released at once during the mint.
— Teng Yan ⛩ (@0xPrismatic) September 6, 2022
This typically means there is a large gap between the NFT supply and actual brand value for a long time (Supply-Brand Value Gap)
Your usual 10k PFP mints falls here. pic.twitter.com/reOw9XQN0m
/3 Actual brand value & culture takes time to nurture. It comes from teams and communities executing well on their product, marketing and partnerships.
— Teng Yan ⛩ (@0xPrismatic) September 6, 2022
The best NFT founders know this. They can differentiate hype from true value, as intangible as it is
/4 It's often super risky for NFT projects to launch via a one-time mint.
— Teng Yan ⛩ (@0xPrismatic) September 6, 2022
For Founders: it's a do-or-die moment. momentum is lost if it doesn't mint out
For Buyers: lots of price volatility since all of the initial value is usually just comes from speculation.
/5 Daily auctions are one alternative model of NFT distribution that I believe has legs.
— Teng Yan ⛩ (@0xPrismatic) September 6, 2022
The NFT supply starts tiny and expands at a fixed rate. This aligns token inflation more closely with the expected growth of the brand over time, reducing the Supply-Brand value gap. pic.twitter.com/DFekTdYnjk
/6 Daily auctions for NFTs also:
— Teng Yan ⛩ (@0xPrismatic) September 6, 2022
🔸 Provide breathing space for a tight-knit community to grow
🔸 Are more equitable: new ppl have opportunities to enter at any point in time
🔸 Aligns founding team incentives better
This can be modified to a suitable rate (eg hourly auctions)
/7 @nounsdao pioneered of the daily auction model as a powerful mechanism for capital formation, bootstrapping a treasury from 0 to 27,500+ ETH.
— Teng Yan ⛩ (@0xPrismatic) September 6, 2022
It is a grand experiment on how to scale a brand in the fastest way possible. And so far it's looking good. pic.twitter.com/j1TGxZvTe0
/8 Took a deep dive into Nouns DAO in our recent report at @Delphi_Digital. We explore:
— Teng Yan ⛩ (@0xPrismatic) September 6, 2022
🔸 Daily Auctions
🔸 NFT-driven DAO governance
🔸 Embracement of CC0
It is an open "protocol" that is trailblazing the path forward, allowing others to build on it.https://t.co/a2Y7SKpuL0
