EigenLayer Airdrop & Martin Shkreli vs. Io.net - The Chopping Block Ep 639

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Navigating Eigenlayer's Airdrop Fallout, Shkreli’s Crusade on Io.net, and CZ’s High-Profile Crypto Sentencings!
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In this episode, we dive deep into the controversy surrounding the Eigenlayer airdrop, discussing the community’s backlash and its broader implications for token distributions in crypto. We also explore the ongoing debate over the efficacy and future of cryptocurrency points programs. The episode also delves into Martin Shkreli’s impactful campaign against Io.Net, highlighting how his public criticisms shed light on project valuations and investor trust. Additionally, we discuss CZ’s recent four-month sentencing, reflecting on the crypto community’s supportive response and considering the Department of Justice's approach to crypto leadership. Tune in to gain expert perspectives on the complex interplay between market movements, regulatory actions, and community reactions in the evolving world of crypto!
Show Highlights
🔹 Eigenlayer Airdrop Controversy: Delve into the community's disappointment over the Eigenlayer airdrop and explore its implications for future token distributions.
🔹 Debate on Crypto Points Programs: Analyze the effectiveness and future prospects of cryptocurrency points programs.
🔹 Impact of VCs on Market Dynamics: Consider the role of venture capitalists and how investor sentiment is shaped by their actions in the market.
🔹 Martin Shkreli's Campaign Against Io.Net: Discuss how Martin Shkreli significantly impacted Io.Net by publicly criticizing the project's overvaluation.
🔹 CZ's Four-Month Sentencing: Reflect on the crypto community's support for CZ following his four-month sentencing.
🔹 DOJ Sentencing and Prospects for Crypto Leaders: Examine the Department of Justice's approach to sentencing and what it means for future leadership in the cryptocurrency sector.
Hosts
⭐️Haseeb Qureshi, Managing Partner at Dragonfly
⭐️Tom Schmidt, General Partner at Dragonfly
⭐️Robert Leshner, Founder of Compound
⭐️Tarun Chitra, Giga-Brain & Grand Poobah at Gauntlet
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Time Stamps:
00:00 - Intro
02:01 - EigenLayer airdrop
08:34 - Challenges in crypto points programs
12:25 - Is the points era over?
15:40 - Diminishing marginal utility
21:11 - F**k VCs
25:38 - When the internet is mad
28:30 - Are VCs complacent?
38:45 - Io.net vs. Martin Shkreli
44:18 - Shkreli is doing this out of principle
46:05 - Verifiability problem and spoofing
52:19 - CZ's ‘chill’ sentencing
_______________________________________________________
#bitcoin #ethereum #crypto #cryptocurrencies
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Опубликовано:

6 июн 2024

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Комментарии : 29

@hyena6390 Месяц назад

Haseeb your pretty annoying on this VC topic. You obviously have self interest in this. What makes you think airdrop farmers wont have a vested long term interest in something like eigen layer? VCs are a select handful and farmers are thousands of grinders that provide fees, marketing, liquidity, and decentralization for a project.

@SK-vg3mw Месяц назад

How can you say there is no risk and it’s just a free money, when 7% of all TVL in DeFi is getting stolen? Locking funds into new smart contract bears massive amount of risks that even devs not fully aware. Early liquidity providers should be compensated accordingly

@jdg9999 Месяц назад

Yep, there's capital risk and opportunity cost, it's not "free money"

@SK-vg3mw Месяц назад

@@jdg9999 these guys should be knowing better that there is no such a thing as free money

@Maziusklein Месяц назад

It's crypto counterparty risk. The idealistic view is that if you can read the code, you can evaluate the risk yourself. Reality looks more like people aping into smart contracts or basing their assessment of the smart contract's risk on other people's opinion or endorsement of the project.

@SK-vg3mw Месяц назад

@@Maziusklein I’m a security researcher, no you can not just “read the code” and evaluate it. This tech is so new that even devs not aware of vulnerabilities. It takes a very deep dive by hundreds of sec researchers thru several rounds of audit to evaluate the code, but even then it will require repeat audits as new vulnerabilities being discovered daily. What may be considered safe today, can be critically vulnerable tomorrow. Ps. Personally I think there is no such a thing as “totally safe and bug free” smart contract. If protocol was not hacked yet, it means no one tried hard enough yet (sorry for the bad news, but it’s true).

@Maziusklein Месяц назад

@@SK-vg3mw do you find any value in smart contracts? Don't you think that some more common functions of smart contracts can be made (sufficiently) secure?

@sausage9455 Месяц назад

You completely missed one of the main problems with the Eigenlayer stake drop. That is, the snapshot was taken 6 weeks before the announcement, the early farmers got a much better conversation rate to tokens which would have been fine if that was announced at the time and farmers could make a decision if they wanted to continue farming at the much lower rate. Some calculations I have seen are saying farmers after the snapshot are getting a 4-6x worse ratio for points to tokens.

@theaveragenobody Месяц назад

"VCs play the long game and expect the product to retain value years in the future after vesting"..... Camon bro, if you buy at market price we can cop that but not if you are buying at a 99.99% seed valuation discount.

@michaelthoma4423 Месяц назад

re: the VC hate discussion.... to overly simplify it, what is an "appropriate amount" of the total supply that the team/investors/insiders can get and STILL have the protocol considered "decentralized," "neutral," and "incorruptible"? Is it 20%, 40%, or 50%+? That's the sweet spot project's must hit. IMO, anything approaching 40% is undeniably lopsided and cannot, with any straight face, describe themselves as some sort of "decentralized" so-and-so on which the new internet/social app/value layer with run.

@bedechike8740 Месяц назад

For project building within the eigenlayer ecosystem Gasp deserves more exploration cause of their vision to make Ethereum the settlement layer for all cross-chain transactions. Gasp is still on their testnet phase, I guess now is the best time to explore them.

@hunterdiamond7495 Месяц назад

fwiw you can get the numbers on a hosted gpu ( eg clock speed, memory availability ) pretty easily by running simple cli commands that cannot be spoofed at the hardware level

@TravisFont Месяц назад

Saw this coming months ahead of time. The investor allocation was far out too obvious, the rest, no surprises.

@macroinvestor6628 Месяц назад

Saw the preview and knew I couldn’t stomach watching the rest lol

@trix4092 Месяц назад

Rob your skin is looking good today, new facial hair cut? Keep up the good work!

@ygoesit9898 Месяц назад

Martin Shkreli is also launching a AI GPU crypto project

@alexNGMI Месяц назад

Shkreli literally has an AI crypto project coming out…. Wtf are you talking about “out of principle” 😂

@andrewmcmurray8081 Месяц назад

ETH projects doing everything theu can to drop the ball

@MichaelMerritt Месяц назад

Pharma bro becomes gpu farmer 🧑‍🌾 bro

@junichinamot Месяц назад

Haseeb talks way too much

@pivoune Месяц назад

Are seriously cheering this awful Martin Shkreli person??? Also it didn’t occur to you the possibility that he might be big time short on the project? Wouldn’t surprise me knowing his past.