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Unchained

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Crypto assets and blockchain technology are about to transform every trust-based interaction of our lives, from financial services to identity to the Internet of Things. In this podcast, host Laura Shin, an independent journalist covering all things crypto, talks with industry pioneers about how crypto assets and blockchains will change the way we earn, spend and invest our money. Tune in to find out how Web 3.0, the decentralized web, will revolutionize our world. Disclosure: I'm a nocoiner.

Location:

United States

Description:

Crypto assets and blockchain technology are about to transform every trust-based interaction of our lives, from financial services to identity to the Internet of Things. In this podcast, host Laura Shin, an independent journalist covering all things crypto, talks with industry pioneers about how crypto assets and blockchains will change the way we earn, spend and invest our money. Tune in to find out how Web 3.0, the decentralized web, will revolutionize our world. Disclosure: I'm a nocoiner.

Twitter:

@laurashin

Language:

English


Episodes

How Ethereum’s Dencun Upgrade Could Lead to the Rise of Millions of Layer 3s - Ep. 620

3/15/2024
Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Ethereum’s long-awaited Dencun upgrade finally went live this week, and many L2s immediately saw their transaction fees fall dramatically, as was the intention. Among them was the Coinbase-incubated Base, which was created by Jesse Pollak. Pollak joined Unchained to discuss the impact Dencun was having on Base; how he thinks Layer 1s and Layer 2s will start to differ from one another and eventually spawn a multitude of specialized Layer 3s; his response to criticisms of the increasing use of Layer 2s, what he’s focusing on now, and why he supports using the word “onchain” over “crypto” or “web3.” Show highlights: The problem that Dencun is trying to solve The benefits of blobs and blobspace How Dencun has already reduced Base’s fees, but also increased its transactions How Jesse thinks Layer 1s and Layer 2s will start to become differentiated from each other The rise of Layer 3s How Jesse addresses criticisms of fragmentation and centralization arising from the increasing use of Layer 2s Why Jesse is particularly excited about two features of the Dencun upgrade—transient storage and increased composability between L1s and L2s What Jesse and the Base team are focusing on now Why Jesse thinks that “onchain” is a better word to describe the industry than “crypto” or “blockchain” or “web3” Thank you to our sponsors! iTrustCapital Polkadot Uniswap Guest Jesse Pollak, creator of Base at Coinbase Previous appearances: The Chopping Block: All About That Base With Jesse Pollak Links Recent coverage on Unchained of the Dencun Upgrade and Base: Dencun Day One: Ethereum Layer 2 Networks See Drastic Drop in Transaction Fees Ethereum Completes Milestone Dencun Upgrade, Which Should Substantially Reduce Fees How Much Will the Dencun Upgrade Really Reduce Ethereum Layer 2 Fees By? Why Base’s Creator Thinks Social Apps Will Be a ‘Huge Part’ of the Layer 2 Blockchain’s Success CoinDesk: Debating Dencun: Will Ethereum's Big Update Help or Harm the Network? Jesse’s tweets on Dencun October 2022 January 2024 March 13, 2024 Blobs / Proto-danksharding EIP-4844 proposal Blobs unleashed: Ethereum’s Dencun upgrade activates on mainnet Base says it will support EIP-4844 from 'day 1' following Dencun upgrade Ethereum stans are putting the Bee Movie on blobs for as little as $5 Superchain Decentralizing Base with the OP Stack and Optimism Base’s Commitment to Decentralization with the Superchain Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:40:46

The Chopping Block: The Ups-and Downs of Crypto since 2020 and where we are now! - Ep. 619

3/14/2024
Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest news. In this week's episode the squad asks: Is MakerDAO setting a new precedent for DeFi protocols with its emergency rate hike? How significant is the role of meme coins in the crypto market's volatility, and what does Solana's prominence tell us about the future of blockchain platforms? Can Ethereum maintain its position as the backbone of DeFi amidst the growing competition from layer 1 and layer 2 solutions? This episode delves deep into the whirlwind discussions surrounding MakerDAO's sudden monetary policy adjustments, scrutinizing the balance between stability and adaptability in DeFi's fast-paced world. We explore the fascinating, yet often speculative, universe of meme coins, highlighting their impact on network activity and public perception of cryptocurrency's value. The conversation also navigates the evolving landscape of Ethereum as it faces challenges and opportunities in scalability and functionality. Join us as we tackle these thought-provoking questions, armed with Robert Leshner's expertise, to peel back the layers of complexity surrounding DeFi strategies, the meme coin craze, and Ethereum's strategic positioning. Tune in for a captivating session aimed at decoding these trends and offering insights into their potential to redefine the contours of the crypto ecosystem. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show Highlights 🔹 MakerDAO's Monetary Strategy Shift: Exploring the implications of MakerDAO's emergency rate hike and its potential to redefine monetary policy in DeFi. 🔹 The Meme Coin Madness: Diving into the dynamics of meme coins in the crypto ecosystem, focusing on their impact on market volatility and investor behavior. 🔹 Ethereum's Position in the DeFi Ecosystem: Analyzing Ethereum's challenges and opportunities as it continues to be the backbone of decentralized finance amid rising competition. 🔹 The Crypto Evolution and Reflection: Reflecting on the progress of the crypto industry by comparing current discussions to traditional banking models, highlighting the maturation of the sector. 🔹 Solana's Influence in the Crypto Market: Investigating Solana's growing prominence for meme coin activity and what it signals about blockchain platform developments. 🔹 DeFi Protocols as Financial Antidotes: Discussing the role of DeFi protocols in offering alternatives to traditional financial systems and their potential to disrupt. 🔹 Intellectual Property Rights in a Digital Age: Speculating on the future of IP rights in the era of digital creation and AI, questioning the sustainability of current legal frameworks. 🔹 The Crypto Market's Bullish Trends: Analyzing the current bullish trends in the cryptocurrency market, including Bitcoin and Ethereum's price movements and the factors fueling optimism. 🔹 Governance and DAOs in Crypto's Future: Delving into the significance of decentralized autonomous organizations and governance models for the future of cryptocurrency and blockchain technology. Hosts ⭐️Haseeb Qureshi, Managing partner at Dragonfly ⭐️Tom Schmidt, General Partner at Dragonfly ⭐️Tarun Chitra, Managing Partner at Robot Ventures ⭐️Robert Leshner, Founder of Compound Disclosures Links Bitcoin Is Hitting All-Time Highs Around the World (CoinDesk) https://www.coindesk.com/markets/2024/02/29/bitcoin-is-hitting-all-time-highs-around-the-world/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:59:09

Why EigenLayer May Be the Most Innovative New Ecosystem Since Ethereum - Ep. 618

3/12/2024
Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Sreeram Kannan, founder of EigenLayer, and Olaf Carlson-Wee, founder and CIO of Polychain Capital, an investor in EigenLayer, say that the developer ecosystem around EigenLayer is sprouting up very fast, which reminds Carlson-Wee of the developer excitement in Ethereum’s early days. They discuss the potential of EigenLayer, which uses a restaking mechanism to allow ETH stakers to reallocate their staked ETH and Liquid Staking Tokens (LSTs) to bolster security for other protocols. They cover how it could turbocharge Ethereum's rollup scaling roadmap and enable Ethereum to become a stack of decentralized software as a service providers. Additionally, they discuss the potential risks associated with restaking as well as how EigenLayer could work with AI. Read more: What Is EigenLayer? A Guide to the Decentralized ETH Restaking Protocol Show highlights: Sreeram's explanation of what EigenLayer is and what it allows on Ethereum why Polychain invested in EigenLayer's seed round why Sreeram believes that there are not just going to be three modules in blockchains, but thousands the types of applications that can be built with actively validated services, according to Sreeram why they both believe that EigenLayer will improve smart contracts whether EigenLayer will help solve the liquidity fragmentation issue in Layer 2s what Ethereum inclusion guarantees are and why they are important the potential risks of EigenLayer and why Olaf doesn’t agree that EigenLayer results in rehypothecation how attribution claims work in EigenLayer, allowing for "elastic scaling of security" EigenLayer’s points program and the likelihood of a token why Sreeram believes that an EigenLayer governance token wouldn't have the same issues as Lido's LDO whether EigenLayer should be a core part of the Ethereum protocol itself how AI and EigenLayer intersect and how to have permissionless innovation in the AI space Thank you to our sponsors! Polkadot Guest: Olaf Carlson-Wee, founder and CIO of Polychain Capital Previous appearances on Unchained: OG Olaf Carlson-Wee on Why His Crypto Thesis Is Stronger Than Ever Olaf Carlson-Wee: 'If There Is a Money-Losing Exploit, the Money Is Gone' Why The First Employee Of Coinbase Launched A Hedge Fund To the Moon and Back With Polychain's Olaf Carlson-Wee Special Episode with CNBC's Crypto Trader: Olaf Carlson-Wee on Why This Crypto Winter Is Different From Previous Ones All Things Cryptoeconomics, Pt. 1, With Olaf Carlson-Wee and Ryan Zurrer of Polychain Capital Sreeram Kannan, founder of EigenLayer Previous appearance on Unchained: Do You Need to Think Twice Before Restaking Your Assets? Links EigenLayer Unchained: What Is Ethereum Restaking? A Beginner's Guide ETHDenver’s 2024 Hackathon: Onchain Security, AI, and Gaming Fun Dominate the Winning Projects A16z, Binance Labs Make Investments in EigenLayer Ecosystem EigenDA Overview Sreeram’s post on why “building on EigenLayer, therefore, doesn't negate the utility of an AVS token” Points DL News: Kelp DAO opens trading of the $340m EigenLayer airdrop market with KEP CoinDesk: Omni Network Signs $600M Restaking Deal With Ether.Fi to Enhance Security Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:01:18:52

The Chopping Block: Meme Coin Frenzy, Decentralized AI, & Uniswap's Fee Strategy - Ep. 617

3/9/2024
Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner dive into the hot topics stirring the cryptocurrency world. Could Uniswap's fee switch revolutionize DeFi's economic model? What's the real potential of decentralized AI in blockchain, and how close are we to seeing its practical applications? And in the whirlwind of the crypto market, what makes meme coins like Jeo Boden not just viral, but influential? This episode offers a detailed analysis of Uniswap's strategic move to potentially activate fee switches, exploring its implications for liquidity providers and the broader DeFi landscape. We also navigate the promising yet challenging terrain of Crypto AI, dissecting decentralized inference and the feasibility of verifiable training. The phenomenon of meme coins, with a spotlight on Jeo Boden, is dissected for its impact on community engagement and market dynamics. Join us as we probe these intriguing questions, equipped with Robert Leshner's insights, to unravel the complexities of DeFi innovations, Crypto AI's frontier, and the unique ecosystem of meme coins. Tune in for an enlightening session that aims to demystify these trends and provide a clearer understanding of their role in shaping the future of cryptocurrency. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show Highlights 🔹 Uniswap's Fee Switch Debate: Unpacking the implications of Uniswap's potential fee switch activation and its impact on DeFi's revenue models. 🔹 The Intricacies of Crypto AI: Diving deep into the world of Crypto AI, focusing on decentralized inference and the hurdles of verifiable training. 🔹 Meme Coin Phenomenon: Analyzing the cultural and economic forces behind meme coins like Jeo Boden and their sway in the crypto community. 🔹 Regulatory Winds in Crypto: Discussing the changing regulatory landscape and what Uniswap's move might signal about the future of DeFi regulation. 🔹 Market Predictions and Speculations: Exploring expert predictions on Bitcoin and Ethereum's price movements and the factors driving market optimism. 🔹 Technological Developments and Security: Delving into the significance of memory-safe programming and the White House's surprising tech endorsement. 🔹 Attested Data in the Age of Synthetic Media: Examining the role of cryptographically signed data in ensuring content authenticity in the blockchain era. 🔹 Decentralized Platforms' Disruption Potential: Probing the capability of decentralized platforms to reshape traditional social media models. 🔹 The Economic Model of DeFi: Discussing the potential transformation in DeFi's economic landscape post-Uniswap's fee switch implementation. 🔹 Crypto Culture and Community Dynamics: Investigating the unique cultural aspects of the crypto community, especially around meme coins and their market influence. Hosts ⭐️Haseeb Qureshi, Managing partner at Dragonfly ⭐️Tom Schmidt, General Partner at Dragonfly ⭐️Tarun Chitra, Managing Partner at Robot Ventures ⭐️Robert Leshner, Founder of Compound Disclosures Links Bitcoin Is Hitting All-Time Highs Around the World (CoinDesk) https://www.coindesk.com/markets/2024/02/29/bitcoin-is-hitting-all-time-highs-around-the-world/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:01:16:49

How, in 7 Weeks, Bitcoin ETFs Reached Inflows That Took Gold ETFs 3 Years - Ep. 616

3/8/2024
Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. In this episode, Eric Balchunas, senior ETF Analyst at Bloomberg Intelligence, discussed the performance of Bitcoin ETFs since their launch two months ago. Balchunas noted that the ETFs' performance exceeded his expectations, with a faster and more intense "second wind" than anticipated. He attributed this to a combination of asset managers buying in, retail interest, and the "ETF effect" where the knowledge of incoming flows encourages non-ETF investors to buy. Balchunas also predicted that BlackRock's Bitcoin ETF would likely be the most successful of the nine new spot Bitcoin ETFs, while also doubting that any of the smaller issuers would bow out. He also discussed the potential for spot Ether ETFs, but was less optimistic about their success compared to Bitcoin ETFs. Learn more: Bitcoin ETFs Explained: What Are They & How Do They Work? Show highlights: Why the Bitcoin ETF performance in the past couple of weeks exceeded Eric's expectations Whether Eric had ever seen the kind of hype around Bitcoin ETFs occur with other ETFs How there has been a lot of retail interest in these past few weeks Eric's insights into how bitcoin reached all-time highs again this week Whether a good portion of the ETF volumes is sustainable and what's driving those large volumes Whether it's safe to say that BlackRock is the winner among issuers Whether the smaller issuers in terms of volume and AUM will close their ETFs When options on Bitcoin ETFs will be approved Whether in-kind redemptions will be allowed in the near future and the role of politics in that Whether Grayscale will have to reduce its fees considering the huge outflows from GBTC Why Eric believes that spot ether ETFs won't have as much demand as the bitcoin ETFs did Reasons the SEC could use to reject spot ether ETFs Whether issuers will rebalance their portfolios at the end of quarters What Eric expects to see in terms of inflows by year’s end Thank you to our sponsors! iTrustCapital Polkadot Uniswap Guest Eric Balchunas, Senior ETF analyst at Bloomberg Intelligence Previous appearances on Unchained: Why Spot Bitcoin ETFs Are Likely to Finally Start Trading on Thursday Will a Spot Bitcoin ETF Finally Get Approved? Links Recent coverage on Unchained of Bitcoin’s surge: How the Bitcoins in Your ETF Get Sourced: The Real Story Should You Sell Bitcoin Now That It’s Nearing Its All-Time High? Miners Appear to Sell $69 Million Worth of Decade-Old Bitcoin Bitcoin Hits New All-Time High Above $69,000, Presaging More Potential Gains Previous coverage on the Unchained podcast of spot Bitcoin ETFs: Bitcoin’s Price Is Way Up. And $48 Trillion in Wealth Just Got Access Why Some Brokerage Firms Are Blocking Access to Spot Bitcoin ETFs Why the SEC May Want Cash Creation of Spot Bitcoin ETFs Why It Looks Like BlackRock Could Win America’s First Spot Bitcoin ETF The 4 Factors That Will Determine Which Spot Bitcoin ETFs Win Market Share How Much Money Will Flow Into Bitcoin ETFs? Here’s One Projection Eric’s tweet on $IBIT smashing $788m Ethereum spot ETF: BitMEX Blog: Ethereum ETFs & Staking Eric’s tweet on ether ETFs Unchained: Why Spot Ether ETFs Likely Won’t Steal Bitcoin’s Thunder — Even if Staking Is Included Spot Ether ETFs Could Introduce New Concentration Risk in Ethereum: S&P Global Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:57:06

The Catalysts for This Crypto Bull Market: AI, DeFi, Real World Assets? - Ep. 615

3/5/2024
Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. In this episode of Unchained, Alex Pack, managing partner at Hack VC discusses the firm's recent $150 million fundraise, the challenges of raising capital in a bear market, and the firm's focus on early-stage Web3 infrastructure. He also shares his thoughts on the intersection of crypto and AI, the future of DeFi, and the importance of security in the crypto space. Pack believes that the current infrastructure of crypto is still in its early stages and needs significant improvement before it can reach mainstream adoption. He also sees potential in the development of more secure smart contracts and the integration of AI into decentralized applications. Show highlights: How Hack VC was able to raise $150 million in a bear market, especially after the blowups of FTX, 3AC, and Terra Alex's interaction with SBF, whom he calls a "sociopath," and why he didn't invest in FTX Hack VC's philosophy to "back hackers" in crypto The goals behind Zuzalu, the new community that resembles Balaji Srinivasan's idea of a network state What the main focus of Hack VC's investments are, including scalability, AI, and DeFi Why Alex believes that "we are still so early" How Alex believes crypto and artificial intelligence will intersect The role of AI agents and how to use them in decentralized applications Why he thinks that EigenLayer is a great solution for middleware applications Alex's opinion on the modular vs. monolithic approach for scaling blockchains How DeFi survived the last bear market, contrasted with the collapses of CeFi companies like Celsius, BlockFi and FTX Whether algorithmic stablecoins can ever work and what Alex thinks of Ethena's USDe How to improve security in crypto, according to Alex Why the outcome of the Bitcoin ETFs exceeded Alex's expectations What he believes the catalysts are for the next bull market Thank you to our sponsors! Polkadot Guest: Alex Pack, Managing partner at Hack VC Previous appearances on Unchained: Dragonfly Capital on Why Ethereum Is So Far in the Lead ‘The Last Big Whale’: Why the Crypto Contagion of 2022 Eventually Hit Genesis Links New fund Bloomberg: Hack VC Raises $150 Million for Bets on Battered Crypto Industry Hack VC Closes $150M Venture Fund I, Bringing AUM to $425M Stablecoins: Unchained: What Is Ethena’s USDe Synethic Dollar? A Beginner’s Guide What Is Terra and Why Did It Fail? Why It's so Hard to Keep Stablecoins Stable What Is Depegging in Crypto and Why Does It Occur? What Is Real-World Asset (RWA) Tokenization? A Beginner's Guide EigenLayer ecosystem Unchained: What Is EigenLayer? A Guide to the Decentralized ETH Restaking Protocol The Block: AltLayer closes $14.4 million strategic round co-led by Polychain and Hack VC Modular vs. monolithic approach Unchained: What Are Modular Blockchains? A Beginner's Guide Three Crypto Pioneers on Crypto’s Monolithic vs. Modular Debate Crypto x AI crossover io.net and Ritual Collaborate to Boost Global AI Compute Landscape Ritual x EigenLayer: Restaking for AI Unchained: 5 Use Cases of AI in Blockchain Zuzalu Decrypt: I Spent a Month Inside Vitalik Buterin’s Social Experiment—Here’s What It Was Really Like Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:01:07:29

Bitcoin’s Price Is Way Up. And $48 Trillion in Wealth Just Got Access - Ep. 614

3/1/2024
Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. After a week in which Bitcoin nearly hit its all-time high, Alex Thorn, head of firmwide research at Galaxy, joins Unchained to discuss the pivotal role of ETF inflows in Bitcoin's recent price surge, the nuanced behaviors of long-term versus short-term holders, and the potential impacts of upcoming halvings and institutional involvement on the market's future trajectory. Alex offers deep insights into the market value to realized value Z-score, explaining its relevance in assessing Bitcoin's valuation. He also delves into the implications of major financial institutions like Merrill and Wells Fargo embracing Bitcoin ETFs for their clients. Furthermore, Thorn speculates on the timing and conditions for an "altcoin season" and shares his price predictions for Bitcoin by the end of the year. Learn more: Bitcoin ETFs Explained: What Are They & How Do They Work? Show highlights: The main drivers for Bitcoin's recent surge, according to Alex Whether long-term Bitcoin holders are selling due to the recent surge in price What the MVRV (market value to realized value) Z-score is and how Alex uses this metric to assess the Bitcoin market Why Alex believes this period in Bitcoin's history is distinct What the implications of Merrill and Wells Fargo offering Bitcoin ETFs to their customers are, and how this expands Bitcoin's institutional appeal How the upcoming halving could affect the price, especially since Bitcoin is already closer to all-time highs than previous times ahead of the halving Why Alex thinks this might be the first time that highs in bitcoin and ether do not lead to an "altcoin season" Alex's price prediction for Bitcoin by the end of the year Thank you to our sponsors! Uniswap iTrustCapital Polkadot Guest Alex Thorn, Head of Firmwide Research at Galaxy Previous appearance on Unchained: How Much Money Will Flow Into Bitcoin ETFs? Here’s One Projection Links Recent coverage on Unchained of Bitcoin’s surge: Should You Sell Bitcoin Now That It’s Nearing Its All-Time High? Bitcoin Watchers React to BTC Returning to the $60,000 Mark Coinbase App Crashes Amid Bitcoin’s Massive Rally Bitcoin Price Surges Past $61,000 Others: The Block: JPMorgan says bitcoin price could drop towards $42,000 after April halving Bloomberg: BofA’s Merrill, Wells Fargo Offer Bitcoin ETFs to Wealth Clients Previous coverage on Unchained of spot Bitcoin ETFs: Why Some Brokerage Firms Are Blocking Access to Spot Bitcoin ETFs Why Spot Bitcoin ETFs Are Likely to Finally Start Trading on Thursday Why the SEC May Want Cash Creation of Spot Bitcoin ETFs Why It Looks Like BlackRock Could Win America’s First Spot Bitcoin ETF Will a Spot Bitcoin ETF Finally Get Approved? The 4 Factors That Will Determine Which Spot Bitcoin ETFs Win Market Share How Much Money Will Flow Into Bitcoin ETFs? Here’s One Projection Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:47:41

Famed White Hat Hacker Samczsun on How to Improve Crypto Security - Ep. 613

2/27/2024
Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Well-known white hat hacker and head of security at Paradigm samczsun recently took the wraps off a new security organization called the Security Alliance (SEAL) that offers a 911 hotline for immediate response to security threats, runs war games to simulate potential security incidents, and provides a safe harbor agreement to protect white hat hackers from legal liabilities. He joined Unchained to discuss why he and his fellow white hat hackers decided to start the Security Alliance and how it operates, how the safe harbor agreement works, the measures he takes to maintain his anonymity and why, the top security measures people in crypto should take to protect themselves, and what attack areas in crypto Sam still considers “scary.” Show highlights: How samczsun got into white hat hacking The most memorable saves and rescues sam was able to perform Whether there's a reason why sam is so good at noticing bugs in crypto The origin of his samczsun handle What the Security Alliance is and why it was formed How SEAL would approach a bug or a hack Whether black hat hackers are trying to exploit open groups Why the work in the group is volunteered, not paid, and whether that's sustainable How the SEAL War Games help in training on how to respond to an incident in Web3 What the Safe Harbor Agreement is and what it aims to accomplish for white hat hackers How sam protects his identity and whether his coworkers know what he looks like The top security measures people working in crypto should take How projects should approach the audit for their smart contracts given it's an expensive endeavor What attack vectors still scare sam What is ‘White Hat Hacking’? White hat hacking, often referred to as ethical hacking, is a cybersecurity practice where skilled computer experts use their knowledge for good, employing the same methods as malicious hackers (black hat hackers) but with a significant difference: they do so with permission and for a constructive purpose. These ethical hackers identify vulnerabilities in computer systems, networks, or applications before malicious attackers can exploit them. By detecting and resolving these security weaknesses, white hat hackers help organizations strengthen their defenses against cyber threats. Thank you to our sponsors! Popcorn Network Polkadot Guest: Samczsun, CEO of Security Alliance (SEAL) and Head of Security at Paradigm Previous appearances on Unchained: The Chopping Block: Top White Hat Hacker Samczsun Discusses the State of Crypto Security Links Introducing the Security Alliance Bloomberg: Paradigm’s Famed ‘White-Hat’ Hacker Unites Peers Against Crypto Attacks, White Hat Safe Harbor [Github] Chainalysis: Funds Stolen from Crypto Platforms Fall More Than 50% in 2023, but Hacking Remains a Significant Threat as Number of Incidents Rises sam’s tweet on security practices Halborn: Explained: The Nomad Hack (August 2022) Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:01:00:49

Stacks’ Muneeb Ali On Why Bitcoin Is Exciting Once Again - Ep. 612

2/23/2024
Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Fifteen years after the birth of Bitcoin, the network is now entering an era of remarkable innovation and change, according to Stacks' co-creator Muneeb Ali. On this episode of Unchained recorded at the Bitcoin Builders conference, Muneeb explores the complexities and advancements within Bitcoin's Layer 1 and Layer 2. He shares his perspectives on what's fueling innovation in Bitcoin's Layer 1 and discusses the implications of Ordinal Inscriptions amid criticism of it by core developers. He delves into the various scaling solutions within Bitcoin, highlighting how trust assumptions vary among them, and how BitVM could be a 'game changer'. He goes over the advantages of integrating smart contracts on Bitcoin, and why he considers BTC the only true form of monetary asset. Show highlights: What's driving innovation in Bitcoin’s L1 How Muneeb feels about Ordinals Inscriptions in Bitcoin, considering the criticism from some core developers How, in the recent years, research and development in crypto happened outside of Bitcoin, and how that's changing now, according to Muneeb The different types of scaling solutions in Bitcoin and how the trust assumptions differ in each of them Why he feels like BitVM is a 'game changer' and what it enables What the Nakamoto upgrade is on Stacks The advantages of having smart contracts on Bitcoin, according to Muneeb Why he says that BTC is the only asset that is money The challenges to having privacy in Bitcoin Thank you to our sponsors! Popcorn Network iTrustCapital Polkadot Guest Muneeb Ali, co-creator of Stacks Previous appearances on Unchained: Bitcoin Ordinal NFTs Are Hot and Getting Hotter. What's the Hype About? - NFT Crypto Blockstack On Getting Independence From Google, Facebook And Amazon Links Recent news: Unchained: Stacks, a Bitcoin Layer 2 Protocol, Sees All-Time High in Total Value Locked A New Era for Bitcoin Is Here, Whether Bitcoin Maximalists Like It Or Not Bitcoin Passes the $1 Trillion Market Cap Mark; All Cryptos Combined Reach $2 Trillion Bitcoin L2s: Unchained: Are Layer 2s on Bitcoin Having a Moment? How Botanix Aims to Enable Smart Contracts on Bitcoin An Ethereum-Like Experience Built on Bitcoin? Learn more: What Are Opcodes in Bitcoin? A Beginner's Guide What Are BRC-20 Tokens? What Are ORC-20 Tokens? How to Create a Bitcoin Ordinal Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:46:58

The Chopping Block: Starknet's Airdrop, Founder Challenges, and Ethena's Mainnet - Ep. 611

2/22/2024
Welcome to The Chopping Block, where crypto experts Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner bring you inside perspectives on critical topics in the crypto world. This week the boys dive deep into Starknet's airdrop controversies, the psychological toll of internet backlash on founders, and the groundbreaking Ethena project inspired by Arthur Hayes. This episode questions the effectiveness of airdrop strategies in user engagement, the resilience founders must muster against online criticism, and Ethena's potential to revolutionize crypto finance with its tokenized cash and carry trade. We also tackle the security threats on platforms like GitHub, the balance between egalitarian distribution versus market dynamics, and the transparency required in token economics. What legal challenges arise from token vesting schedules, and how does Ethena innovate in crypto finance inspired by traditional models? Join us for an insightful exploration of these critical topics, aiming to enrich our understanding of cryptocurrency airdrops, founder resilience, and Ethena's ambitious financial mechanisms within the evolving cryptocurrency ecosystem. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show Highlights 🔹 Starknet Airdrop Controversy: Exploring the backlash and debates over its distribution mechanics. 🔹 The Psychology of Founders Facing Internet Critique: Discussing the impact of public scrutiny on creators. 🔹 Innovation in Airdrop Strategies: Highlighting the need for creativity to engage and retain users. 🔹 GitHub and Security Risks: Addressing the increase in phishing attacks and noise on developer platforms. 🔹 Efficacy of Airdrops in User Engagement: Evaluating how airdrops influence community involvement and loyalty. 🔹 Egalitarianism vs. Market Dynamics: Debating the balance between fair distribution and economic incentives. 🔹 The Complexities of Vesting Periods: Unpacking the discussions around token unlock schedules. 🔹 Legal Nuances of Crypto Vesting: Exploring the regulatory implications and challenges. 🔹 Transparency in Token Economics: The importance of clear policies for investor confidence. 🔹 The Inspiration Behind Ethena: Tracing the origins and motivations for its creation. 🔹 Cash and Carry Trade Basics: Simplifying the concept and its significance in crypto finance. 🔹 Analyzing Ethena’s Yield Mechanisms: Delving into the strategies and risks of yield generation. 🔹 Risk Mitigation in Ethena’s Protocol: Investigating novel approaches to safeguarding assets. 🔹 The Potential Ripple Effects of Ethena: Speculating on the impact of layered financial products. Hosts ⭐️Haseeb Qureshi, Managing Partner at Dragonfly ⭐️Tom Schmidt, General Partner at Dragonfly ⭐️Tarun Chitra, Managing Partner at Robot Ventures ⭐️Robert Leshner, Founder of Compound Disclosures Links “Is the Short Team Lockup for STRK ‘Misaligned’? No, Says Starkware CEO - Ep. 609”: https://youtu.be/0D0Qyw9TeoY The Uniswap Airdrop - Lessons for the Industry by jhackworth: https://dune.com/blog/uni-airdrop-analysis “Dust on Crust” by Arthur Hayes: https://ehandbook.com/dust-on-crust-300d4b5cf3ec Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:01:05:02

Why the Celestia Team Sees a Future With 10,000 Roll-Ups - Ep. 610

2/20/2024
Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Celestia, a data availability layer for blockchains, was launched last October to much fanfare. The platform takes a modular approach to blockchains, allowing developers to post data onto it without the need for smart contracts or execution. This makes it extremely useful for scaling roll-ups and other layer two technologies. Celestia co-founder Mustafa Al-Bassam and COO Nick White join Unchained to discuss what Celestia is and how it works, how data availability sampling allows for more scalability, how Celestia compares with other data availability layers, whether Celestia could become a data availability layer for Bitcoin, and comparisons between Celestia and Solana. Show highlights: Mustafa’s background and how his project called Lazy Ledger ended up becoming Celestia Nick’s vision for modular blockchains Why Mustafa believes in the “10,000 roll-up” endgame Why Mustafa thinks that gaming and NFT chains work better on a modular blockchain What Celestia is and how it resembles the publication of an article in a newspaper What data availability sampling (DAS) is and how it works to ensure that the data is available and accurate for validators How DAS allows for more scalability What types of applications can be built with this type of modular architecture Mustafa’s explanation of the concept of Blob stream and blob space How a roll-up can be an independent or sovereign layer, not just a layer 2 to a layer 1 How Celestia competes with other DA layers, like the future EigenDA The role of the TIA token in the Celestia ecosystem How Mufasa hacked the CIA when he was 16 years old and how he transitioned into crypto Whether Celestia could become a DA layer for Bitcoin layer 2 roll-ups Whether Solana could end up becoming an Ethereum layer 2 using Celestia for data availability The proposal to extend the functionality of Celestia without smart contracts in the base layer Thank you to our sponsors! Popcorn Network Polkadot Guests: Nick White, COO at Celestia Labs Previous appearances on Unchained: Three Crypto Pioneers on Crypto’s Monolithic vs. Modular Debate Mustafa Al-Bassam, cofounder and CEO at Celestia Labs Links Modular vs. monolithic Alchemy: Modular vs. Monolithic Blockchains Visa: Monolithic vs. modular blockchain Chris Burniske’s tweet on modular vs monolithic “The horrific inefficiencies of monolithic blockchains” by polynya Blockworks: A spicy salvo launched in the monolithic vs modular debate Unchained: What Is the Blockchain Trilemma? Celestia Celestia’s explanation of modular blockchains Data availability Data availability sampling An introduction to sovereign roll-ups Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:01:12:31

Is the Short Team Lockup for STRK ‘Misaligned’? No, Says Starkware CEO - Ep. 609

2/16/2024
Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Starknet made news this week for announcing what will be the largest initial airdrop by number of eligible addresses ever. But it faced heavy criticism online for many of the details of the airdrop, from the fact that Ethereum solo takers received almost 22% of the distribution to eligibility requirements that users held at least 0.005 ETH in their wallets as of Nov. 15, 2023 to the fact that the token generation event took place almost two years before the unlock date. Starkware CEO Eli Ben-Sasson joined Unchained to respond to the multiple critiques of the airdrop and discuss why he and the Starknet Foundation decided on the details that they did. Show highlights: What the airdrop criteria was and why they decided to make it that way Why they allocated so much $STRK to Ethereum solo stakers Eli’s response to the criticism about how little Starknet network participants got in the airdrop Why the STRK Token Generation Event (TGE) was done in 2022, only to be airdropped two years later Why Eli believes that even if the unlock of tokens is in two months, it does not indicate misalignment of incentives Whether Eli will sell his tokens when they become unvested Thank you to our sponsors! Popcorn Network iTrustCapital Polkadot Guest Eli Ben-Sasson, CEO of Starkware Links Recent coverage of Unchained on airdrops: Jupiter Founder Meow to Critics of JUP Airdrop: ‘Give Me a Break’ Unchained: Starknet’s Airdrop Plan Sparks Some Praise but Also Outrage Starknet’s First Token Distribution Will Be Available to Nearly 1.3 Million Addresses The Defiant: Starknet Faces Backlash Over Airdrop and Team Unlocks Loomdart’s tweet on the TGE Learn more: Do You Have to Pay Taxes on a Crypto Airdrop? What Is a Crypto Airdrop? A Beginner's Guide Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:44:42

The Chopping Block: Navigating the New Era of Crypto Social Media with Farcaster's Insights! - Ep. 608

2/15/2024
Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and special guest Dan Romero, co-founder of Farcaster, engage in a riveting discussion on decentralized social media and the burgeoning meme coin trend within the cryptocurrency ecosystem. This episode offers an in-depth analysis of Farcaster's innovative mechanisms for user engagement and its significant role in shaping the future of social interactions in the crypto domain. We delve into the mechanics behind meme coins, examining their influence on community dynamics, market behavior, and the broader implications for digital asset valuation. Our conversation navigates through the intricacies of decentralized platforms like Farcaster, probing into their potential to disrupt conventional social media models and foster a new era of user-centric, blockchain-enabled online communities. Join us for a comprehensive exploration of these pivotal developments, enriched with Dan Romero's firsthand insights, as we dissect the evolving landscape of social media in the crypto age and the captivating allure of meme coins, all aimed at providing a deeper understanding of their impact on the global cryptocurrency market. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show Highlights 🔹 Decentralized Social Media Evolution: Exploring the growth and challenges of platforms like Farcaster in the decentralized web landscape. 🔹 User Empowerment in Crypto: Analyzing how crypto-native features on platforms empower users through economic incentives and community building. 🔹 The Rise of Social Tokens: Delving into the emergence of social tokens and their role in fostering online communities and creator economies. 🔹 Interactive Crypto Features: Investigating innovative features like Farcaster's frames and their impact on user engagement and content sharing. 🔹 Sustainable Tokenomics: Discussing the sustainability of token models in social platforms and the potential for long-term value creation. 🔹 Behavioral Economics in Crypto: Understanding the psychological factors driving the speculative nature of meme coins and their market dynamics. 🔹 Decentralization vs. Centralization: Debating the balance between decentralized ethos and the need for centralized governance in crypto platforms. 🔹 The Future of Online Identity: Discussing the evolution of online identities in the context of decentralized platforms and blockchain technology. 🔹 Celebrity and Crypto Synergies: Speculating on the future of celebrity involvement in crypto through personalized tokens and endorsements. 🔹 Cross-Platform Crypto Integration: Exploring the possibilities and challenges of integrating crypto-native features across various social and digital platforms. 🔹 Ethical Considerations in Crypto: Delving into the ethical implications of rapid token creation, distribution strategies, and their impact on unsuspecting users. Hosts ⭐️Haseeb Qureshi, Managing partner at Dragonfly ⭐️Tom Schmidt, General Partner at Dragonfly ⭐️Tarun Chitra, Managing Partner at Robot Ventures Guest ⭐️ Dan Romero, Farcaster Co-Founder Disclosures Links Eugene Wei’s “Status as a Service (StaaS)”: https://www.eugenewei.com/blog/2019/2/19/status-as-a-service Vitalik Buterin’s forum post on DAICOs: https://ethresear.ch/t/explanation-of-daicos/465/1 Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:01:11:32

How Decentralized Social Network Farcaster Hopes to Eventually Get to One Billion Users - Ep. 607

2/13/2024
Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. In the two weeks since Farcaster introduced its Frames feature that allows developers to easily add mini apps to users’ posts, the decentralized social network has become the talk of Twitter, now X, and increased its user base by ten times, according to co-founder Dan Romero. Romero joins Unchained to discuss why Frames has become so popular, the philosophy behind Farcaster and its client Warpcast, why the crypto component behind Farcaster is being kept to a minimum, how Apple’s new Vision Pro could lead to the creation of a 3D social network on Farcaster, how he and his fellow co-founder’s background at Coinbase helped shape their decisions about building Farcaster, and his vision for eventually getting Farcaster to a billion-plus users. Show highlights: What Farcaster is and what problems it’s trying to solve How and why Farcaster uses blockchain technology in the background How you can use ENS (Ethereum Name Services) for your handles on Farcaster How the recovery of accounts works on Farcaster and what the security implications are What Frames is and why it’s significant for developers and creators What’s controlled by the protocol vs. the client What Dan imagines could be built with the new Apple Vision Pro Whether there’s potential for better economics and ways to monetize content in Farcaster Why Farcaster is on Optimism, an Ethereum Layer 2, and whether it could be moved to another network How they are working to build a more decentralized network What the future of Farcaster and Frames could look like How Dan’s background at Coinbase shaped the way in which he decided to build Farcaster What the strategy is for scaling the platform to the numbers more associated with Web2 social media Thank you to our sponsors! Popcorn Network Polkadot Guest: Dan Romero, Co-founder of Farcaster Coinbase’s Pragmatic Crypto Culture by Dan Romero Links Unchained: Bounties to Build Frames on Farcaster Are Growing Rapidly Farcaster's User Base Skyrockets Nearly 500% After Frames Launch What Is SocialFi? A Beginner’s Guide The Chopping Block: Is Farcaster the Web3 Social Layer? Dan’s ideas for Farcaster Farcaster architecture Architecture Onchain password reset mechanism Why Farcaster Frames are important The layers of Farcaster Farcaster charges “rent” Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:01:33:57

How Crypto’s Version of 'Survivor' Ended Up With the Most Heartwarming Ending

2/10/2024
Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Crypto: The Game captivated a large swath of the crypto community this past week. The game, modeled after “Survivor,” was the brainchild of Dylan Abruscato, Tyler Cagle and Bryan Lee. The intention of the game, which was played virtually but also unfolded in real life, was to ruthlessly vote people off to determine a single winner. Throughout, multiple psy-ops operations created chaos. Despite all that, the competition ended up fostering numerous friendships (including for Unchained reporter Sage Young, whose coverage is below) and resulted in a shocking, but heartwarming ending. On Friday afternoon, after the winner was announced, we hosted a Spaces with Dylan, the winner, and some of the more notable players, which we’re releasing here. In the discussion, we cover the inspiration for the game, some of the behind-the-scenes surprises, who was causing chaos for various teams and how, and why the winner may be one of the winning-est contestants ever. Guest: Dylan Abruscato, founder of Crypto: The Game Links Unchained: Day 6 of ‘Crypto: The Game’ Brutally Exposes the Problem of Trust in a Digital World Day 8 of ‘Crypto: The Game’ Puts Me on a Hit List for the Second Time Day 9: Cutthroat Contestants Put an End to My Time in “Crypto: The Game” Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:59:45

Why One Solana Builder Is Still Optimistic About the Network - Ep. 606

2/9/2024
Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. On Tuesday, Solana suffered a network outage, just shy of a year since its last shutdown. The blockchain had to quickly get a new version out and notify its validators to upgrade to it and restart their systems before blocks could be produced again, resulting in downtime of roughly five hours. This was previously something that had happened regularly to the blockchain, but seemed to have been largely addressed over the past year. Lucas, the CEO of Jito Labs, which builds infrastructure for Solana and staged a highly successful airdrop last year that helped rejuvenate the blockchain, joined Unchained to discuss what caused the outage, whether it’s something that builders on Solana should be concerned about for the future, recent improvements Solana has made to its technology, whether the implementation of Firedancer would have prevented this incident, and the promise of the Solana phone. Show highlights: What caused the Solana blockchain’s outage this week Whether Solana needs to have better quality control Whether the halt of the network affects the builders in the space What recent developments in the infrastructure surrounding Solana give Lucas confidence in the network Whether the Firedancer client that’s now in development would have prevented this week’s outage The promise of the Solana phone Whether the network going down presents a setback for the Solana community in terms of recognition and momentum Whether financial companies will consider using Solana if these issues keep occurring Thank you to our sponsors! Popcorn Network iTrustCapital Polkadot Guest Lucas Bruder, CEO of Jito Labs Links Recent coverage of Unchained on Solana: Jupiter Founder Meow to Critics of JUP Airdrop: ‘Give Me a Break’ Three Crypto Pioneers on Crypto’s Monolithic vs. Modular Debate Anatoly Yakovenko on Solana’s Astounding Recovery and Its Future Plans Outage Unchained: Solana Back Online Again After Suffering 5-Hour Outage Matthew Sigel’s explanation for why the outage happened Mert’s tweet on how Solana prioritizes security over liveness CoinDesk: Can We All Stop Pretending That Solana Is in Beta? Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:35:23

The Chopping Block: Is Farcaster the Web3 Social Layer? - Ep. 605

2/8/2024
Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tarun Chitra, and Robert Leshner chop it up about the latest news and with special guest, and Farcaster aficionado Ted! This episode zooms in on Farcaster Frames: How are they revolutionizing the platform? We examine Farcaster's transformation and its impact on the future of social media: Can Farcaster redefine decentralized communication? Delving into its user base, we ask: What makes Farcaster's community unique? How do airdrop strategies and global hub distribution shape its ecosystem? And what's next for decentralized social networks like Farcaster? Join us for an insightful discussion on these pivotal questions impacting the crypto sphere. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show Highlights 🔹 Farcaster frames launch: Revolutionizing user engagement in crypto communities. 🔹 Social Media Evolution: Farcaster's Rise from Niche Network to Powerhouse. 🔹 Global dynamics: Farcaster's u.s. focus vs. Lens' worldwide appeal. 🔹 Decentralized platforms: the unique soul of Farcaster and Lens communities. 🔹 Airdrop strategies: boosting Farcaster's growth and user engagement. 🔹 From social networks to media: Farcaster's balancing act. 🔹 Overcoming adoption barriers: user reluctance vs. Farcaster's innovations. 🔹 A shift in content, authenticity and interaction on Farcaster. 🔹 Expanding Farcaster's ecosystem globally. 🔹 Farcaster's vision: the future of decentralized social networks. 🔹 Discovering Farcaster: overcoming hesitation, embracing curiosity. Hosts ➡️Haseeb Qureshi, Managing Partner at Dragonfly ➡️Tarun Chitra, Managing Partner at Robot Ventures ➡️Robert Leshner, Founder of Compound Guest ⭐️ Ted, the Farcaster Fangirl #1 Disclosures Links Why Farcaster Frames are important: How a failed Facebook bet is coming to fruition in Web 3 By Antonio García Martínez Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:01:06:11

2 Lawyers on How the U.S. Can Finally Regulate DeFi - Ep. 604

2/6/2024
Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Google Podcasts, Amazon Music, or on your favorite podcast platform. Trying to regulate DeFi is a huge challenge because in a truly decentralized system, there should be no centralized actors to make and enforce rules for. This could make combating illicit finance challenging since traditionally, regulation has been targeted at centralized intermediaries. Yet Rebecca Rettig, Chief Legal and Policy Officer at Polygon Labs; Michael Mosier, the co-founder of boutique law firm Arktouros; and Katja Gilman, senior lead for public policy at Polygon Labs, published a paper last week that proposes to do just that. Rebecca and Michael join Unchained to discuss what prompted them to write the paper, what the difference is between "onchain CeFi" and "genuine DeFi," how targeting high-risk wallets can be one part of the solution, how critical communications transmitters (CCTs) are another piece of the puzzle, and what next steps they are pursuing. Show highlights: The motivations behind their paper and Michael and Rebecca’s legal backgrounds Why Michael views the Bank Secrecy Act as outdated in the context of DeFi How critical KYC and AML compliance is for the integrity of DeFi What Rebecca identifies as the principal risks in the DeFi sector Why their proposal targets the protocol layer for effective DeFi regulation How "onchain CeFi" differs fundamentally from "genuine DeFi" Whether a decentralized protocol can be effectively regulated when controlled by a DAO How if DeFi were to be classified as critical infrastructure by the Cyber and Information Security Agency (CISA), it would impact the sector Whether the critical components of blockchain networks, such as RPCs, can be regulated effectively How categorizing wallets based on risk can be one part of the solution to fighting illicit finance Why Rebecca considers Tornado Cash a prime example of “genuine DeFi” What steps Rebecca and Michael plan to take next following the publication of their paper Thank you to our sponsors! Popcorn Network Polkadot Guest: Rebecca Rettig, Chief Legal and Policy Officer at Polygon Labs Previous appearances on Unchained: Just a Coincidence? Coinbase and Polygon Lawyers See Bad Omens in SEC Crackdown Kik’s Surprising Move in Its Lawsuit With the SEC Michael Mosier, cofounder of Arktouros PLLC Links Previous coverage of Unchained on the topic: Could the Bank Secrecy Act Harm Crypto? Coin Center Thinks So Full paper: Genuine DeFi as Critical Infrastructure: A Conceptual Framework for Combating Illicit Finance Activity in Decentralized Finance Rebecca’s thread Coin Center: Broad, Ambiguous, or Delegated: Constitutional Infirmities of the Bank Secrecy Act Tornado Cash Unchained: Given the Sanctions on Tornado Cash, Is Ethereum Censorship Resistant? Illicit funds in crypto: Unchained: How Much Money Are Terrorists Actually Raising in Crypto? Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:01:05:02

The Chopping Block: Points or Airdrops, Which Is the Better Engagement Model for Crypto Projects? - Ep. 603

2/3/2024
Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest news and with special guest Aevo's Co-Founder - Julian Koh. This episode zeroes in on the latest buzz around the Jupiter ($JUP) airdrop: What's the real story behind Jupiter’s valuation and controversy? We peel back the layers of Jupiter's token strategy and its impact on market dynamics. The dialogue then shifts to the innovative approaches of Aevo (formerly Ribbon Finance) in pre-launch derivatives and the burgeoning trend of airdrop farming: How are Airdrop strategies altering the landscape of token valuation and investor behavior? The debate intensifies as we tackle the contentious battle between points systems and traditional airdrops: Are points a revolutionary engagement tool or a complex web of incentives? With the resurgence of ICOs and the strategic pivot of Ribbon Finance, we explore the implications of rebrands on the crypto ecosystem. Join us for an in-depth exploration of these critical topics and their profound impact on the world of cryptocurrency. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show Highlights 🔹 Jupiter Airdrop Deep Dive: Unraveling the complexities and controversies behind the Jupiter ($JUP) airdrop. 🔹 Valuation Variance: Examining the fluctuations in Jupiter token valuation and their market repercussions. 🔹 Community Engagement: Evaluating the effectiveness of @weremeow's live streams in shaping community perceptions. 🔹 Airdrop Discontent: Analyzing the liquidity dynamics and user dissatisfaction stemming from airdrop strategies. 🔹 Innovations in Derivatives: Exploring Aevo's unique approach to pre-launch derivatives in the DeFi space. 🔹 The Airdrop Farmer's Dilemma: Discussing the strategies used by airdrop farmers to hedge against price volatility. 🔹 Points vs. Airdrops Debate: Delving into the pros and cons of points systems compared to traditional airdrop mechanisms. 🔹 Rebranding Strategies: Assessing the impact of token rebrands, with a focus on Ribbon Finance's evolution. 🔹 Pre-IPO Markets and Crypto: Drawing parallels between traditional pre-IPO conversion markets and crypto points systems. 🔹 The Uncertainty Factor: Considering how the allure of uncertainty influences engagement and investment in crypto. 🔹 Protocol Dynamics: Investigating the effects of airdrop farmers on the health and engagement of blockchain protocols. 🔹 ICO Resurgence: Discussing the potential comeback of Initial Coin Offerings and their role in the crypto funding landscape. 🔹 Stress Testing with Points: Highlighting innovative uses of points for protocol stress testing like Eigenlayer. 🔹 Referral Systems in Crypto: Analyzing the impact of referral-based points systems on protocol engagement and growth. Hosts ⭐️Haseeb Qureshi, Managing partner at Dragonfly ⭐️Tom Schmidt, General Partner at Dragonfly ⭐️Tarun Chitra, Managing Partner at Robot Ventures Guest ⭐️ Julian Koh, Aevo's Co-Founder Disclosures Links Jupiter LFG Launchpad Blog Article - https://station.jup.ag/blog/jupiter-lfg-launchpad Blockworks: “Jupiter airdrop draws criticism, but support remains strong” - https://blockworks.co/news/jupiter-airdrop-draws-criticism Proposal: “Merge Ribbon Finance into Aevo” - https://gov.ribbon.finance/t/rgp-33-merge-ribbon-finance-into-aevo/709 Weremeow’s Twitch Stream: https://www.twitch.tv/weremeow Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:01:02:24

Jupiter Founder Meow to Critics of JUP Airdrop: ‘Give Me a Break’ - Ep. 602

2/2/2024
While Solana DeFi protocol Jupiter staged what was by most measures a very successful airdrop launch on Wednesday, achieving a market cap of close to $800 million, the company’s critics pointed out numerous ways the company seemed to unfairly enrich itself in the process. While Jupiter’s founder, who goes by the pseudonym Meow, acknowledges he might have done some things differently, he finds the criticisms of the launch mostly based on “bad faith” and misinformation. Meow joined Unchained to discuss the thinking behind the launch mechanics of JUP, how the prior launch of memecoin WEN served as a dry run for JUP, whether the aggressive pricing strategy of JUP was a mistake, and what he hopes to achieve with Jupiter next, including the possibility of enabling companies of all kinds to list themselves publicly on chain. Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: What Jupiter is and how it extends its functionality beyond mere token swapping What users are primarily utilizing the dollar-cost-average feature of Jupiter for Meow’s background in crypto and how he ended up in the Solana ecosystem Why a launchpad seemed the ideal choice for Jupiter's token launch What prompted the decision to release WEN, a memecoin, before launching JUP Meow's response to criticisms regarding the launchpad's mechanics Whether the aggressive pricing strategy for Jupiter was a misstep How Meow feels about being targeted for criticism What's on the horizon for Jupiter as a platform following the airdrop Thank you to our sponsors! Popcorn Network iTrustCapital Guest: Meow, cofounder of Jupiter Links Unchained: Jupiter Traders Claim Whopping 545 Million JUP Tokens in First 8 Hours of Airdrop Jupiter’s Airdropped Token JUP Debuts at a $878 Million Market Cap Pro-Ethereum Crowd Slams Solana-based Jupiter Airdrop as ‘Absolute Trash’ Breakpoint 2023 Meow conference The Block: Solana DEX aggregator Jupiter confirms token release date Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:49:15