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Tuesday, October 4, 2022

Cardano Today. Reef Finance, Safemoon & Sundaeswap

So, if we’re doing our job with community management correctly, there needs to be mechanisms where people can go to learn and to ask and then to interact. Okay, so uh cardanol stack exchange is an example of a place. You can go to ask and learn and interact, and if you have any question all about protocol parameters, the open source nature of the project, whatever have you, we have about an 83-84 answering rate right now, i’d like to see that over 95 as a kpi, no Matter how complex or simple the question may be, and that’s public and open and people can see that and it builds up over time a corpus of knowledge.

That’s ubiquitously, useful. The discords have been very useful for interactive conversations about the development of plutus applications as these applications grow in complexity, which is inevitable.

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There’s going to be enormous amounts of questions and lots of work to do and a lot of people to to kind of interact with each other, so you, the community, it’s very important that you kind of wear your hearts on your sleeves ask questions interact with each Other and have a lot of say and influence over uh things that have to get done or should get done or ought to get done, or you feel are very commercially useful.

To this point, one of the things i told our dcf product manager to do johnny was he gave his beautiful presentation, lots of slides, and i said, okay, how do we put everything in these slides into a single picture, an architectural map of the layers of the Cardinal open source ecosystem and we’re working on getting a nice visual for that we kind of have a prototype visual at the moment and we’re going to work our way through it and then make it very pretty. But then, once we have that, i want to create a special class for people to basically get involved with cardano at one of the levels of that stack. One of the most common questions i get in my amas, email or other places. I’M a big fan of cardano.

I love the ecosystem. I love the ethos. I love the people. How do i do something here? I’M a lawyer, i’m a doctor, i’m a fisherman, i’m a truck driver, i’m a developer, i’m an accountant.

I would like to have a class that shows you all the different career paths and all the different things a person can do if their desire is to work within the cardano ecosystem, potentially directly for the cardano protocol. When we talk about catalyst funding next year, i believe there will be hundreds of people by the end of 2022 who work for cardano paid for by cardona catalyst. Will the people will submit grants and say hey? I want to get a job. I want to do something: here’s what i want to do.

Here’S my qualifications and people just make decisions, and they can be ambassadors, marketers developers, entrepreneurs and residents these types of things. The other thing is, i want to build something on cardno or i want to integrate. Cardano with my business, so that’s the other option. I want to work for the protocol. I want to build on or with the protocol for that.

Second category we’ve had a lot of discussions about. How do we create a bespoke incubation acceleration pipeline where people either can go through entrepreneurial training and there’s some great programs mit has one cmu has one stanford has one it’s just a question of who is the ideal partner and after graduating, through that training be in A position where they understand how to submit a callous catalyst proposal for their business uh to do something with cardano to build something on cardano and there’s some normalization of those standards. So those are two high-priority educational tracks that exist, and i think that will cover the vast majority of people who want to do something but aren’t sure what they can do and aren’t sure what best matches their skills now. True to form. I think these micro summits are going to provide a window into various different, interesting opportunities and problems because they can eventually be community driven, for example, uh, a metaverse oriented micro summit, an nft oriented micro summit, a gaming oriented micro summit for how to get video games And cardinal deeper, integrated and actual projects that are building and the basically the inclusion test is you have to have adapt working or otherwise.

You have to have something at a certain level of maturity to be able to attend, so everybody there earned their way in a certain respect, uh and uh. They know something, they know something about how plutus works. They know something about how catalyst works. They understand the underlying technology enough to be able to utilize that technology and propagate that technology. So a lot of ecosystem development in this respect, and now is the time for community to wake up to to interact to listen, to learn from each other to ask questions.

Uh to eric grievances, if you have complaints, go ahead now’s the time because everything can be fixed, everything can be advanced, it evolves, and this great dialogue has to keep going it’s one of the strengths of cardano. Is we have one of the strongest communities from the perspective of a dialogue? People are always talking, always sharing always building, and when we look to 2022 we have to continue growing that base and it’s going to be a continued source of great strength for us. As an ecosystem, now, there’s always going to be ups and downs and there’s always going to be big challenges and things to push through uh, but for the most part, the era of giant things is over. Like you know, the gogan release the shelley release these things.

They were so massive so much to do literally with byron the shelley. All the code was rewritten, so it’s a completely new code base and there was a big migration to it. It was extremely painful and new ideas like hfc, the hardcore combinator were introduced. Decentralization was introduced from a static confederated to a dynamic and decentralized system. So all these moving pieces were very, very difficult and they were very challenging for us as a product jig.

But now we’re in the era of rapid iteration. Rapid feedback. Gogen will continue to evolve and optimize shelley will continue to evolve and optimize and even buy an era. Technology, like opft, has a lot of room for optimization for when we talk about the permission side chains like cordano, but those are iterative and in parallel in a certain respect, they don’t stop. They just keep going and when we look to voltaire, that’s more about experimentation of what makes a good open source bureaucracy and what makes a good open source government and getting to that.

Getting to that inclusivity. That’S truly global and avoiding some of the sins of the past, and that’s a gradual process that you gradually build to that basio is much the same way. There are protocols that will create massive innovations like mithril, for example, but then there’s a long tail of optimizations week by week by week that get done to ensure that cardano continues to scale and then new protocols that, when are available, are available. For example, like sidechains and so forth, so a lot of optimization and iteration is going to occur and the beautiful part is the closer we are to the community. As that happens, the more the iterations can be influenced to an extent where the community is the key driver of innovation and optimization and so forth in the project.

So this is the great challenge of doing that organization, but then allowing total, decentralization and ensuring consistent delivery with consistent quality of the delivery. And i i think, there’s a lot of methodologies that we’ve been exploring and thinking about proactively to try to get that done and ensure that that’s uh, that’s good, but it’s a very healthy bones and vibrant project from that perspective and it’s exciting to see all of It, as i mentioned in my calm video, you know, stuff goes way up and stuff goes down. Events happen and you can spend a lot of time just obsessed with the blatant unfairness of things uh, just for example. Today the etoro story – i i thought it was exceedingly unfair coin telegraph and other people how this was picked up, an organization that is going for an ipo and it’s de-risking itself in preparation for that decided to ring fence off certain marketplaces and, in that case, staking Activity in the united states, because it seems like some regulators want to lump staking and defy and yields, and all these things together to one package and if you’re, if your primary goal is pursuing something like a liquidity uh through an ipo, you want to be very Conservative, with the things that you do, they didn’t delist ada. They didn’t prevent the trading effort.

They just said certain countries are off limits, but there’s still over 100 countries. I think that are trading uh and people all around the world and still there. I think they’re still running their stake pools internally, i don’t think they’ve shut them down um or you know at least that’s not gon na happen for a while uh. So that is an event and it’s no indication of anything. The project i mean bitstamp, as i mentioned, is 10 times larger by volume and also in europe and they’re entering the ecosystem, and a lot of people are talking about staking products and so forth.

So this is an industry-wide concern about proof-of-stake and the nature of staking and delegation and pools that the industry is going to have to work its way through 40 of all cryptocurrency value lives in that paradigm. So when you look at that, that almost half of all your value is in this proof-of-stake world, uh then or intends to be in a proof-of-stake world. This is a universal problem that tens of millions of people and entrepreneurs companies are going to be discussing for years. With regulators, cardano has no special provenance in that particular problem. So it’s deeply unfair to extrapolate from an event like that, a particular about a particular project.

But you don’t you don’t let it bother you. You know. You just realize that every single day the caravan has to make some distance progress has to be made and every single day each person is responsible for their part. What makes cryptocurrencies great is not the leader up on the hill who says this is the promised land. This is where we’re going.

This is what we’re going to do. What makes cryptocurrency great is that a swarm across the entire world comes together like locusts, and they bathe the land and they make some progress. They take it over, they transform it. They are one unity made of many, no one. Member of that swarm is somehow indispensable or more special than others.

Some locusts are bigger. Some are queens, some are different species, but you don’t look at a swarm as one look, you look at it as a collection that makes a universal a whole. That’S what a cryptocurrency is all about and the swarm moves slowly. Sometimes it moves quickly. Other times it runs into bad weather from time to time, but we’re okay, you know, and the growth is okay and it’s truly a decentralized giant ecosystem.

Every contingency you could imagine, has been considered from my death to the united states banning all proof-of-stake and proof-of-work cryptocurrencies, and only allowing permission ledgers run by the federal reserve with uh. You know a gov coin, uh to catastrophic protocol failure, events to uh cosmic rays coming and uh. You know destroying uh. You know a lot of infrastructure like, for example, those solar flares that hit 100 years ago and knocked out the entire telegraph network. For a week.

We’Ve thought about these things in the disaster recovery plan and there are contingencies put in and there are people whose day job is to just do this, which is why there’s so many damn people at i o and there’s so many different companies working on cardano and There’S so many different people thinking about cardano, taking it seriously now we’re not unique in this respect, i’m absolutely certain at you know: gavin’s shop with polkadot and uh at al grant and silvio shop and uh. You know the shop over at avalanche and all these they think about this stuff too, and they plan for these things too, and their ideas and their methodologies make us stronger and our ideas and our methodologies make them stronger. We learn from each other. That’S what gives me hope about this industry in this field, not the minutia of the day to days or how brutally unfair people can be, especially when they have biases that they don’t admit, but they certainly do broadcast in the way that they talk about things. It’S the fact that we are a swarm together, we’re all in this together the technology we’re all in this together with this desire to create real use and utility, and we can see massive progress when we zoom out a little bit.

It wasn’t too long ago that cardano was just an idea on a blackboard in japan and now there’s millions of people there’s great technology, there’s a beautiful vision and roadmap and progress. That’S collectively happening with that swarm, that’s inspiring other ecosystems onto itself. It wasn’t too long ago that bitcoin was just a digital white paper uh that had been uploaded to the peer-to-peer foundation in 2008, followed on by some code that kind of worked kind of didn’t work. It was really difficult to play around with not even a logo. We had to wait for marty malmy for that, so it wasn’t too long ago in the stream of history 2008.

It’S not actually that long ago you know we most of the people. Listening to this have vivid memories of what they were doing in 2008. They were maybe a little younger, but not that much younger. This gray, hair wasn’t in the beard, but i still had a beard. Okay, so things change when you scale out a bit a few years actually fairly quickly, because humans are bad at the notion of exponential growth and we don’t see the hockey stick until we live it.

And then we just pretend, as if that’s the standard, but that is the result of constant vigilance and work every single day the caravan has to move every single day. Work has to be done. I know what i have to do. The company knows what it has to do. The ecosystem knows what it has to do.

Our partners know what we have to do and you, the community deep down inside, know what you have to do and what you have to build and if we are prepared to collectively do that and put in that effort day by day by day by day, when You zoom out five years 10 years 15 years you get bitcoin, you get linux, you get the internet, you get the web browser, you get the operating system, you get computer science, you get modern physics, you get modern chemistry, you get modern medicine. You get the moon landing, it’s not the big speeches or the great leaders that matter it’s the people who work in the trenches who actually enable the great speeches to become manifest. It’S easy to remember kennedy in the 60s saying we will go to the moon because it’s hard it’s one of the greatest speeches in presidential history, but it’s hard to remember that over a million people worked on the apollo program. Thousands of companies and government agencies uh. All together and some people had to do very difficult, yet somewhat mundane and repetitive things.

For example, the engines on the saturn v rocket had to be meticulously welded, together by master craftsmen every single day standing in the hot weather of texas and florida and other places 12 hours a day welding. If they didn’t do their job, neil armstrong would have never been on the moon, and they did that’s why he was, and someone had to make the flag and someone had to sew the spacesuit, as someone had to figure out how to make a life support system. That would survive someone had to do the physics someone had to figure out the fuel composition and that swarm working together meticulously day by day by day by day, allow those great moments of history to be realized and those great visions to be realized. The better the tools of collaboration are the more effective we can be in the way we communicate, listen, learn and assist each other, the better the ecosystems ultimately will be, and the stronger the principles will be inside the ecosystem. This is the great meta challenge for our industry as a whole.

All of this favorite coin of the week factionalism maximalism it’s toxic, not only in that it inhibits growth, it’s toxic in that it prevents us from ascending and achieving great things. If we look at the world as some zero, where, if we win someone has to lose, then that’s basically saying for us to go to the moon. Every other nation can’t have a space program. Every other nation can’t have a scientist or an engineer. We must go to the moon at the expense of everyone else’s ability to do that that some zero thinking didn’t exist.

There were people from over 115 countries working on that program, collectively, there’s over 200 languages commonly spoken in the apollo program. It was the most diverse, culturally unique time for a mega project of that nature, and while that seems massive, that is dwarfed in comparison to what we have seen collectively, with the horsepower of the cryptocurrency movement. There are ten times as many companies working in the cryptocurrency space actively, well-funded well-staffed, then we’re working on the moon landing and there are a hundred times as many people in the cryptocurrency space than there were the people working on the moon, landing the greatest scientific achievement Of the human race of the 20th century – certainly arguably one of them, so we as an ecosystem have the raw materials, the talent, the companies, the funding. It’S really a matter of vision, leadership mission and the ability to communicate with each other, and what makes it hard is. We have incentives not to work together in many cases, and what makes it hard is that two work together usually requires some degree of centralization.

Which brings me to my final point, which is i saw on the reddit uh the other day, some snarkiness about the naming of voltaire. In particular, voltaire was a harsh critic of democracy, and people often ask why did i choose the name? Voltaire for the final part of the original roadmap. You know – and i think the best way of answering this was that it was kind of a dual point. One part was for me at the end of candide.

You know there was a a quote: one must tend their own garden and it was in reference to a political event in turkey at the end of the book. So he had this great journey that the protagonist goes on with his friends and he starts as kind of an idealistic likeness man who believes in the determinism of the universe and is very idealistic about how the universe ought to work and over time through events and Tragedies gets gradually a bit more pragmatic, if not cynical, and instead of rushing headlong into politics, comes to the realization that that around him is probably more important. So when you go on this great journey and basho went on a great journey throughout japan, it was a very dangerous time period to go. Travel around most people think you’re a criminal or a spy and kill you for moving from one village to the next. During that period of japanese history, but somehow he managed to do it and write about it.

So we’ve all gone on this incredible journey and myself included and it’s some time for some of the people to go and tend to their gardens. They still can contribute participate, but they don’t get to be king and they’re changed in the entire journey, but then for the community. Voltaire was a big fan of the idea of the enlightened monarch, so his issue with the aristocracy is that they were very parasitic. His issue with democracy, especially direct democracy, was that it almost always converged a mob rule, and so he liked the idea of a monarch with the philosophers surrounding him kind of plato’s vision of the republic and i’d like to believe what we are constructing is the social Laws of physics we’re constructing in our own way, a monarch, an open source, distributed decentralized monarch that preserves and protects a standard that we would like to believe it should be applied equally to everyone and those who participate in governance. Catalyst are effectively the philosophers, the enlightened ones who advise this monarch.

No one of them can influence it, but if enough of them get together, they’ll have enough influence to likely steer the protocol in a particular direction, but there are still absolutes and immutables like the monetary policy and other such things. This is what voltaire kind of imagined would be an interesting way of governing and every time he saw contradictions and other things he’d certainly write about it, which is why he kept getting arrested and exiled. The other thing is that voltaire wrote over two thousand books and pamphlets about thirty thousand letters during his lifetime. So i imagined, as we built out cardano, we would write so many papers and blog posts and other things that when we summed up all the words about cardano that had been written, it would actually rival the life’s collective work of full terror. And it may actually be the case that, before this is over, that we do that, there’s over 125 papers that have been written for cardano and there’s an enormous amount of blog posts and literature – that’s been produced.

Some i wrote some other people wrote it’s pretty remarkable. The breadth and depth of publications that we’ve had so that’s why i chose the name, because it was a message to myself to tend my own garden and kind of retire and move back a bit and still, of course, work. But i’m just one of the locusts in the swarm and it’s a message to all of you that your government is what you get with it. If you are too aristocratic and oligarchic, you end up having a lot of parasites you take from all of you for their own benefit and give you nothing if you’re too close to direct democracy without proper institutions to counterbalance it and regulate it and constitutional restrictions. Then you end up having rapid variants, whatever the whims of the mob happen to be

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