Podcast Summary
In this episode, the hosts discuss their recent travels, the Real World Asset Summit, and the launch of JPMorgan’s private blockchain. They also delve into the potential of the Blackbird app, a platform that rewards customers with tokens for dining at participating restaurants. The conversation also covers the future of Layer 2 solutions, the importance of trust in tokens and apps, and the role of liquidity in the success of an ecosystem. The hosts also touch on the relevance of price in the crypto space and the importance of trying new things in the crypto world.
Key Takeaways
Blackbird App and Real-World Asset Tokenization
- Blackbird’s Unique Approach: The app incentivizes real-world behavior and customer loyalty by offering tokens as rewards for dining at participating restaurants. The hosts discuss the potential monetization of these tokens and their use for in-app purchases.
- Real World Asset Summit: The summit saw the participation of several institutions, including JP Morgan, which launched its own private blockchain, JPMorgan coin. The hosts discuss the potential and criticism of private permission blockchains.
Layer 2 Solutions and Their Future
- Layer 2 War: The hosts discuss the potential market cap for Layer 2 solutions and the endgame for Solana and other Layer 1 solutions. They also touch on the debate around roll-ups and their relationship with Ethereum.
- Consumer-Oriented L2s: The hosts highlight the importance of focusing on consumer-oriented L2s for success, as opposed to solely focusing on building tech.
Trust and Recognition in Tokens and Apps
- Importance of Trust: The hosts emphasize the importance of trust and recognition in tokens and apps, citing UniSwap and Ave as examples. They also discuss the differentiation between established tokens with little overhang and new tokens with constant supply dumping.
- Role of Liquidity: The hosts highlight the role of liquidity in the success of an ecosystem and the trust that comes with deploying on established platforms like UniSwap.
Relevance of Price in the Crypto Space
- Project Rug Pulls and Hacks: The hosts discuss the relevance of price in the crypto space, noting that project rug pulls and hacks are common occurrences on new chains. They highlight the importance of projects having deep pockets and a brand to protect, as it provides a level of safety for users.
- Importance of Total Value Locked (TVL): The hosts discuss the importance of TVL in attracting users and building trust, noting that people often rely on TVL as an indicator of safety.
Sentiment Analysis
- Bullish: The hosts express a bullish sentiment towards the Blackbird app, citing its unique approach to incentivizing real-world behavior. They also express approval of Optimism’s decision to diversify their holdings and ensure capital sustainability.
- Bearish: The hosts express a bearish sentiment towards the potential risks associated with bridging assets to Solana due to past hacks and the need for trust in DeFi. They also express skepticism about the worthiness of donations to Ben Armstrong’s legal defense.
- Neutral: The hosts express a neutral sentiment towards the drama involving DWF and its competitors GSR and Wintermute, acknowledging the nuanced nature of the situation and understanding the motivations behind the posturing and positioning of the market makers.
