Empire

In this episode of Empire's Weekly Roundup, Jason and Santi discuss the most anticipated event in crypto's history: the merge. It finally happened. How does the successful transition to PoS change ETH's narrative? Where will the market's attention shift next? How important is the ESG-friendly narrative?

We also explore the Cosmos & multichain thesis, liquid staking derivative yields, the Doodle raise controversy and more!

--

(00:00) Introduction

(00:20) Happy Merge Day

(12:06) Liquid Staking Derivatives

(19:12) Cosmos & the Multichain Thesis

(31:08) Core Ad

(32:36) New Coinbase Politics Feature & DAS

(38:12) Doodles Raise Controversy & NFT speculation

(49:18) Figma Acquired by Adobe, Do Kwon & Book Recs

- -

Follow Santi: https://twitter.com/santiagoroel

Follow Jason: https://twitter.com/JasonYanowitz

Follow Empire: https://twitter.com/theempirepod

Subscribe on YouTube: https://tinyurl.com/4fdhhb2j

Subscribe on Apple: https://tinyurl.com/mv4frfv7

Subscribe on Spotify: https://tinyurl.com/wbaypprw

- -

Referenced in the show:

Travis Kling, Empire podcast

https://spoti.fi/3qFbgV9

Fred Wilson's blog on Ethereum flows

https://avc.com/2022/08/the-merge/

LSDs are up only tweet

https://twitter.com/mhonkasalo/status/1570060055789146114

Brian Armstrong's tweet on Coinbase's new politician feature

https://twitter.com/brian_armstrong/status/1570133078022160384

Fixed Rate Lending Unlock, Bell Curve podcast

https://spoti.fi/3Dugefd

Building Market Microstructure for NFTs

https://bit.ly/3Sp54Nd

--

Core, from Ava Labs, is more than just a wallet. It’s a free, non-custodial browser extension that gives Avalanche users a more seamless and secure Web3 experience. Download Core today at https://www.core.app/

--

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

- -

Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.

In this episode of Empire, Jason is joined by Bill Barhydt, founder of Abra, to discuss the 80-year debt cycle, Bill's crypto thesis and the future of Web3 banking. We start with macro, Q4 predictions and the "big Fed pause". We then discuss Bill's BTC and ETH investment thesis and the concept of a Web3 bank.

Tune in to the end, where Bill announces a new product that could shape the future of financial services.

- -

(00:00) Introduction

(01:32) The 80-Year Debt Cycle & the Big Fed Pause

(15:35) ETH vs Bitcoin Investment Thesis

(26:10) Circle Ad

(27:33) Abra's Outperformance in the Bear Market

(30:02) Ingredients for the Bank of the Future

(41:56) Announcing Abra Bank, the Bank of Web3

- -

Follow Bill: https://twitter.com/billbarhydt

Follow Jason: https://twitter.com/JasonYanowitz

Follow Empire: https://twitter.com/theempirepod

Subscribe on YouTube: https://tinyurl.com/4fdhhb2j

Subscribe on Apple: https://tinyurl.com/mv4frfv7

Subscribe on Spotify: https://tinyurl.com/wbaypprw

- -

Resources

Abra

https://www.abra.com/

The Blocksize War book

https://amzn.to/3xf0IQw

--

Circle’s USDC has quickly become one of the most trusted and widely used stablecoins because of its composability, stability and reserve transparency. As a seamless, trusted dollar digital currency, USDC is a zero-to-one opportunity for the global financial system. Check out their Transparency Hub at circle.com/transparency that outlines everything from links to USDC weekly reserve reports, monthly attestations, and blog posts written by their executive team highlighting how and why USDC was built the way it is.

--

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

- -

Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.

In this episode of Empire's Weekly Roundup, Jason and Santi discuss the upcoming Ethereum merge and how to maximize your profit opportunity (warning: this is not financial advice).

We also explore Coinbase's $1.6B Maker DAO proposal, Binance's BUSD announcement, value accrual frameworks, and more!

- -

(00:00) Intro

(02:23) A Web3 CRM

(04:48) How to Prep for the ETH merge

(19:30) MakerDAO Proposal To Send $1.6B USDC to Coinbase Prime

(27:24) Avalanche Ad

(28:50) Coinbase Deal

(36:16) Coinbase Backs Tornado Lawsuit Against the Treasury Department

(40:45) Binance BUSD Announcement

(46:02) Where Will Value Accrue In Crypto?

(53:15) Chaos Labs, Mysten Labs & Fund Raises

(59:20) Podcast & Book Recommendations

- -

Follow Santi: https://twitter.com/santiagoroel

Follow Jason: https://twitter.com/JasonYanowitz

Follow Empire: https://twitter.com/theempirepod

Subscribe on YouTube: https://tinyurl.com/4fdhhb2j

Subscribe on Apple: https://tinyurl.com/mv4frfv7

Subscribe on Spotify: https://tinyurl.com/wbaypprw

- -

Referenced in the show:

Tomasz Tunguz articles

https://tomtunguz.com/

Robert Leshner's tweet thread on the merge

https://twitter.com/rleshner/status/1559727104903757826

Katie Haun - Tornado Cash: What web3 Needs to Know

https://bit.ly/3x9w4b8

Doug Colkitt blockspace fee tweet thread

https://twitter.com/0xdoug/status/1566491825942237184

Bell Curve podcast

https://spoti.fi/3DbPpwm

Take Notes podcast

https://spoti.fi/3Qow1yY

Matthew Ball's new Metaverse book

https://www.matthewball.vc/metaversebook

--

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

- -

Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.

In this episode of Empire, Jason and Mike are joined by Kain Warwick, founder of Synthetix. This is one of my favorite episodes where we discuss why protocol fees are the next meta, the value of liquidity mining and token incentives, Synthetix's roadmap, protocol-specific stablecoins and much more!

- -

(00:00) Introduction

(02:06) Protocol Revenue KPIs

(10:40) Do open-source protocols have moats?

(19:55) Airdrops, liquidity mining and attempts to grow TVL

(28:00) Framing the cost of liquidity mining: cash vs equity

(31:43) B2B permissoned composability and Protocol M&A

(37:56) Token supply caps & path dependency

(49:35) Should protocols retain or distribute fees

(52:10) Payment for order flow

(54:36) Synthetix’s End Game

(1:00:16) Why DAOs will outcompete traditional organizations

(1:04:38) Synthetix v3, Regulation and Liquidity-as-a-Service

(1:12:46) Why Synthetix is removing inflation

(1:16:04) Protocol-specific stablecoins & MakerDAO’s USDC reliance

- -

Follow Kain: https://twitter.com/kaiynne

Follow Jason: https://twitter.com/JasonYanowitz

Follow Mike: https://twitter.com/MikeIppolito_

Follow Empire: https://twitter.com/theempirepod

Subscribe on YouTube: https://tinyurl.com/4fdhhb2j

Subscribe on Apple: https://tinyurl.com/mv4frfv7

Subscribe on Spotify: https://tinyurl.com/wbaypprw

- -

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

- -

Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.

In this episode of Empire's Weekly Roundup, Jason and Santi discuss MakerDAO's end game. Maker is often called the backbone of DeFi and will have to choose if the protocol embraces regulation or maximizes decentralization. We explore Rune's recent proposal, Maker's two options and why we are bullish.

We also discuss Michael Saylor's tax evasion lawsuit, the release of Arbitrum Nitro, the governance timelock debate and a new Aave proposal.

--

(00:00) Introduction

(02:36) Michael Saylor accused of tax fraud

(08:30) Maker DAO’s End Game & Crypto’s Potential Compromise

(21:06) Core Ad

(22:33) Crypto's Potential Compromise Cont.

(29:01) Compound Bug and the Governance Timelock Debate

(35:58) Arbitrum Nitro Launch

(41:23) Aave ETH Lending Proposal & Merge Craziness

(44:30) DeFi Will Lead the Way In the Next Bull

- -

Follow Santi: https://twitter.com/santiagoroel

Follow Jason: https://twitter.com/JasonYanowitz

Follow Empire: https://twitter.com/theempirepod

Subscribe on YouTube: https://tinyurl.com/4fdhhb2j

Subscribe on Apple: https://tinyurl.com/mv4frfv7

Subscribe on Spotify: https://tinyurl.com/wbaypprw

- -

Referenced in the show:

Rune's post on "free float" DAI

https://bit.ly/3RskrDL

Jason's tweet announcing he's now a MakerDAO delegate

https://twitter.com/JasonYanowitz/status/1564310872423645184

Sam Martin's tweet on Arbitrum vs Optimism usage

https://twitter.com/swmartin19/status/1565339068069584901

--

Core, from Ava Labs, is more than just a wallet. It’s a free, non-custodial browser extension that gives Avalanche users a more seamless and secure Web3 experience. Download Core today at https://www.core.app/

--

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

--

Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.

Blockworks just released a new podcast called Bell Curve! We're dropping the pilot episode here as we think you might want to add this podcast to the lineup.

Season one of Bell Curve revolves around our DeFi credit boom thesis. Simply put, CeFi's implosion will create a DeFi credit boom that will bring new users and fixed-rate lending markets to DeFi.

What products will be created? Who will be the users of these products? Where will capital flow first?

These are a few of the questions we'll explore as we put our thesis to the test. Join Jason and Mike in this season one pilot episode, where we provide context for our thesis and explain what you should expect in the upcoming episodes.

If you consider yourself a curious degen, builder or investor: this show is for you.

- -

Follow Mike: https://twitter.com/MikeIppolito_

Follow Jason: https://twitter.com/JasonYanowitz

Follow Bell Curve: https://twitter.com/thebellcurvepod

Subscribe on YouTube: https://bit.ly/3R1D1D9

Subscribe on Apple: https://apple.co/3pQTfmD

Subscribe on Spotify: https://spoti.fi/3cpKZXH

- -

Disclaimer: Nothing said on Bell Curve is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mike, Jason, and our guests may hold positions in the companies, funds, or projects discussed.

In this episode of Empire, Jason and Santi are joined by Rebecca Rettig and Jake Chervinsky to discuss the state of crypto regulation. We explore what Tornado Cash sanctions mean for crypto, how to define decentralization, if tokens will be considered securities, Ethereum censorship, what to expect from future regulation and more!

- -

(00:00) Introduction

(01:18) Tornado Cash Sanctions

(16:09) Defining Decentralization

(26:17) What Has Been Most Damaging to Crypto?

(31:03) Do Regulators Understand the Nuances of Crypto?

(37:35) What Regulations Should Be Prioritized Today?

(39:27) A Focus on User Protection

(46:17) Getting Congress on Our Side

(59:45) The SEC's Attack on Crypto (Coinbase)

(1:01:02) Uniswap Fee Switch Implications

(1:08:17) ETH Validators & OFAC Compliance

(1:19:27) Permissionless vs Permissioned DeFi

- -

Follow Rebecca: https://twitter.com/RebeccaRettig1

Follow Jake: https://twitter.com/jchervinsky

Follow Jason: https://twitter.com/JasonYanowitz

Follow Santi: https://twitter.com/santiagoroel

Follow Empire: https://twitter.com/theempirepod

Subscribe on YouTube: https://tinyurl.com/4fdhhb2j

Subscribe on Apple: https://tinyurl.com/mv4frfv7

Subscribe on Spotify: https://tinyurl.com/wbaypprw

- -

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

- -

Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.

In this episode of Empire's Weekly Roundup, Jason and Santi discuss how DAOs should fund protocol development, why liquidity providers aren't considered creditors, the future of staking derivatives, app vs protocol value capture and much more!

- -

Timestamps

(00:00) Aave’s Retroactive Funding, Protocol Development and Web3 Consultants

(17:52) Coinbase Announces a New Staking Derivative

(25:55) The Fei Protocol Shutdown and Liquidity Providers as Creditors Debate

(32:28) Avalanche Ad

(33:56) The Fei Protocol Shutdown and Liquidity Providers as Creditors Debate cont.

(39:24) Fat Protocol vs Application Thesis

(52:27) Crypto Needs Regulatory Clarity and Fixed Rate Lending

- -

Follow Santi: https://twitter.com/santiagoroel

Follow Jason: https://twitter.com/JasonYanowitz

Follow Empire: https://twitter.com/theempirepod

Subscribe on YouTube: https://tinyurl.com/4fdhhb2j

Subscribe on Apple: https://tinyurl.com/mv4frfv7 

Subscribe on Spotify: https://tinyurl.com/wbaypprw

- -

Referenced in the show:

Byron's Blockworks Newsletter

https://blockworks.co/newsletter/daily/?id=28814320

ETH Staking Distribution Charts

https://dune.com/sixdegree/ethereum-the-merge

Westie Tweet on the Fat Application Thesis

https://twitter.com/WestieCapital/status/1562079476837765120

--

Core, from Ava Labs, is more than just a wallet. It’s a free, non-custodial browser extension that gives Avalanche users a more seamless and secure Web3 experience. Download Core today at https://www.core.app/

--

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

--

Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.

The US Treasury's sanctions on Tornado Cash could go down as one of the most significant events in crypto's history. The implications and nuances are vast, so we've decided to do something a little different for today's episode.

On August 12th, Jill Gunter and Michael Mosier from Espresso Systems hosted a Twitter Space on Tornado's sanctions, financial privacy and regulation. We've teamed up with Jill and Michael to share this epic conversation with a wider audience.

This is a massive episode, almost 3 hours, but it's full of profound insights and has an all-star lineup of speakers. I highly recommend listening if you want to learn more about the recent sanctions and where regulation is heading!

Shoutout to @f1v3am and @nedbgq, who provided a recording of the conversation and made this episode possible.

--

Follow Jill: https://twitter.com/jillrgunter

Follow Michael: https://twitter.com/M_Mosier_

Follow Empire: https://twitter.com/theempirepod

--

Resources

Link to the original Twitter Space

https://twitter.com/jillrgunter/status/1558150917387534336

In this episode of Empire, Jason is joined by two of MakerDAO's top contributors, monetsupply and Sam MacPherson, to discuss the future of MakerDAO and the DAI stablecoin.

Highlights include:

-- Is USDC an existential risk to MakerDAO?

-- Why is Maker financing off-chain assets?

-- How can DAI scale to become the de facto money of DeFi?

Tune in to find out!

--

(00:00) Introduction

(00:18) How Big Of a Threat Are US Sanctions?

(05:34) The Importance of Maker's PSM

(11:30) What Is the Ideal Basket of Collateral for DAI?

(18:05) Embracing Real World Asset Lending

(25:20) Tokenizing Assets & the Huntington Valley Loan

(28:16) Increasing Maker's Surplus Buffer

(34:16) The D3M and Specialized Lending Partners

(42:01) CeFi Contagion and Liquidation

(44:38) Vertical Integration Across the DeFi Stack

(52:02) Maker's Evolving Governance

(59:57) Are A DAO's Inefficiency Tradeoffs Worth It?

(1:05:04) Maker's Long-Term Vision

- -

Follow monetsupply: https://twitter.com/MonetSupply

Follow Sam: https://twitter.com/hexonaut

Follow Jason: https://twitter.com/JasonYanowitz

Follow Empire: https://twitter.com/theempirepod

Subscribe on YouTube: https://tinyurl.com/4fdhhb2j

Subscribe on Apple: https://tinyurl.com/mv4frfv7

Subscribe on Spotify: https://tinyurl.com/wbaypprw

- -

Resources

MakerDAO

https://makerdao.com/en/

--

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

-- 

Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.