Crypto Corporate Governance

How do centralized teams building crypto projects decentralize? Frustrated by how spread out information about corporate structures was, I mapped out how a few high-profile projects have transitioned from company to foundation. The governance mechanisms they’ve put in place in the process serve as precedent for those who follow and raise questions of their own. …

5 thoughts on BitDEX and Priceless Financial Contracts

The financial engineering team at UMA has been thinking about BitDEX and Priceless Financial Contracts for a few months and published a research paper with more details on the underlying concepts. There are a few notable features worth pointing out: Centralization Tradeoffs as Features vs. Bugs Privacy Enabled by Pseudonymity Extension to Fiat-based Trading Platforms …

“Complete Until Incomplete” Contracts

Jesse Walden’s blog post on Complete vs. Incomplete Contracts got me thinking about how games (or protocols) are complete, but we experience them in controlled and governed instances, or incomplete contracts. Applying this framework to Layer 2 scaling projects, we see that some Layer 2 scaling projects are pursuing games that fall in the middle …

Hedging DeFi interest rate risk on-chain

This is part of an ongoing series of blog posts about financially engineering derivatives to be secure in DeFi. Derivatives have had decades (centuries?) to grow on their own, finding their relevant niche within the jungle of the traditional financial services industry. But in the adversarial blockchain environment, we need to ensure that counterparties can …