Jacob Franek Profile picture
@AllianceDAO. Former co-founder @coinmetrics, epidemiologist and health economist. Decentralizing finance. https://t.co/MNdtWiOVgA
Sep 8, 2018 • 13 tweets • 4 min read
1/ A thread on "open finance" lending. 👇

"Open finance" is a simple descriptor that applies broadly across a large class of SC-facilitated crypto-primitive fin protocols + apps.

It has no specific meaning but I think of it as "open source" meets "increased accessibility". 2/ @DharmaProtocol is an "open finance" lending protocol. It lays the foundation for building user-facing crypto lending apps on top.

As a protocol, it is agnostic. It is as open or as closed as the apps (and their underwriters/liquidity providers) on top want or need to be.
Aug 18, 2018 • 22 tweets • 7 min read
1/ Hey #CryptoTwitter, grab a glass of vino and come sit by the fire so we can discuss your narrow-minded views on FAT PROTOCOL THEORY.

See what I did there -- how I juxtaposed "narrow" with "fat"?


Just shut up and drink your wine. 👇 2/ First, let's acknowledge it as a "theory" even though it wasn't clearly labelled as such.

A theory is just a plausible principle offered to explain phenomena.
Jun 18, 2018 • 11 tweets • 5 min read
A thread on devs + daily active users (DAUs) 👇

- #Ethereum code school CryptoZombies trained 208k+ users and is growing by 30k+/mo
- Truffle has 580k dls, up 56% last 3 mo
- MetaMask has >1m users
- GitHub lists 14k $ETH-based repos and 220k commits
- 1500+ dapps are in dev

- ETH does more tx and active addresses than BTC
- No, batching doesn't make up the dif in tx
- Of the top 100 tokens by MC, 94% are built on Ethereum
- EEA boasts 500+ members
- Brazil, Canada, Zug, Chile, Dubai, and Estonia are experimenting w/ government apps on Ethereum

Jun 4, 2018 • 17 tweets • 4 min read
1/ Holy s&!@ this IMF report is a master class on #crypto macroeconomics. This needs way more attention!

"Monetary Policy in the Digital Age. Crypto assets may one day reduce demand for central bank money."

Dat subtitle tho...


imf.org/external/pubs/… 2/ The premise:

- Crypto has rekindled the debate about whether advances in IT can render central banks obsolete
- Author: "To fend off potential competitive pressure from crypto assets, central banks must continue to carry out effective monetary policies"

May 31, 2018 • 8 tweets • 2 min read
1/ Great post about on- vs off-chain governance!

One contention:

I’m not certain exit costs from blockchains are low.

To explain we need to define two types of exits:

1. Individual user exit
2. Group exit by forking 2/ In individual exit, costs are lower but not necessarily “low”.

There needs to be another option. And that option needs to hold enough of the fundamental properties that you value to exit.

And what about network effects?
May 30, 2018 • 7 tweets • 2 min read
Interesting thread! Thoughts:

1. Most usage for all crypto today is value tx due to speculation. Same for $BTC as for $ETH.
2. Value tx is a use case! Expecting early SC platforms w/out mature dapps to have dapp users is like asking why LN isn't being used yet for payments? 3. On-chain tx vol has dropped likely b/c of chilled ICO environment (+ market crash). Can't ignore the broader market contexts.
4. "Next few months" are likely meaningless in terms of competition. New chains need to launch, attract devs, launch apps, etc. Next 12+ months maybe?
May 30, 2018 • 16 tweets • 4 min read
1/ Most don't know this but every tx in $EOS must include a hash of the EOS Constitution.

This binds users to the constitution and failure to include it may be grounds for invalidating a tx. 🤦‍♂️

Here is the most recent draft: bit.ly/2IYjqVa

$BTC $ETH 2/ The 1st draft was written by -- wait for it -- block.one's VP of Product: bit.ly/2L8kYca

Some highlights...
May 24, 2018 • 6 tweets • 2 min read
1/ Paraphrasing @VladZamfir on issues of on-chain governance:

- On-chain gov (OCG) determines a default upgrade path for all node operators who don't actively agree/participate ("Tyranny of the Default")
- This disenfranchises node operators from active consent and coordination 2/

- Node operators are incredibly important stakeholders in blockchain gov
- They are the exchanges, block explorers, enthusiasts, and others that actually support users and best represent user interests
- So why would we want to disempower node operators?
May 22, 2018 • 9 tweets • 3 min read
1/ Most neo-gold maximalism is also parroting.

The entire debate of SOV ($BTC) vs. utility ($ETH) #cryptocurrencies relies on the assumption that utility coins can't also be SOV/neo-gold.

But of course--they can! 2/ Many coins share the same fundamental properties of neo-gold. Let's call these "FPs". The exact FPs are not universally agreed upon but typically include the following:

- Censorship-resistant
- Secure
- Fixed supply/immutable monetary policy
- Decentralized
- Self-sovereign
Apr 5, 2018 • 10 tweets • 6 min read

Some interesting comments from SEC Chairman Jay Clayton during talk about #cryptocurrency regulation at Princeton. #ClaytonCrypto #Ethereum #Bitcoin

1. SEC is starting from the principle that DLT has incredible promise

bit.ly/2q7hqhX /2. SEC are still trying to wrap their heads around this -- "where does our jurisdiction begin?"