Vitalik's recent post on automated stablecoins. Tells how stablecoin could wind down safe w/o creating a ponzi scheme. Worth read. (Kinda looks like he'd like to support RAI, stablecoin collateralized by pure-ETH and run by redemption rate adjustment; but still think there's points to learn out of it & takeaways on #고유_terra.)

Automated stablecoin?
1. It issues a stablecoin, which attempts to target a particular price index. There is some targeting mechanism that continuously works to push the price toward the index if it veers away in either direction.
2. The targeting mechanism is completely decentralized and it must not rely on asset custodians.

Thought experiment 1: can the stablecoin, even in theory, safely "wind down" to zero users?
- When a product declines, customers generally don't get hurt all that much in the non-crypto world. But in case of Terra, what's more likely is a rapid drop in interest followed by a bang instead of slow decline.
- RAI's security depends on an external asset, so has a much easier time safely winding down. However, it still has problem when it becomes primary dApp on Ethereum that it can crater the price of ETH (and also it cannot eventually grow more than ETH's market cap since it's over-collateralized).

Thought experiment 2: what happens if you try to peg the stablecoin to an index that goes up 20% per year?
- For a collateralized automated stablecoin to be sustainable, it has to somehow contain the possibility of implementing a negative interest rate (Terra systematically only had positive).
- The stablecoin must somehow be able to respond to situations where even at a zero interest rate, demand for holding exceeds demand for borrowing.

Attitude we should have (Important!!!):
- We need to move away from the attitude that it's okay to achieve safety by relying on endless growth.
- We should evaluate how safe systems are by looking at their steady state, and even the pessimistic state of how they would fare under extreme conditions and ultimately whether or not they can safely wind down.

Article by Georgios on ZK Hardware. ZK definitely is a major tech innovation in crypto space, but still we encounter hardware issues. Reckon that hardware should be spotlighted more in this scene for balanced growth overall.
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"A full ZK mining and proving industry will manifest, starting with hobbyists generating proofs in their CPUs, then GPUs, then FPGAs."
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"As cryptocurrency adoption increases, ZKPs will be required in order to accommodate the increased demand for performance and privacy from users, and new types of applications and protocols.
ZKPs fundamentally allow scalable and private payments and smart contract platforms to thrive but introduce non-trivial overheads which have historically hindered their adoption."
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"They are slow and will require hardware acceleration to be made feasible over complex computations. We believe that the technology that will matter the most for ZK hardware acceleration is FPGAs and not GPUs (due to cost and energy efficiency) or ASICs (due to their inflexibility and long iteration cycles)."

https://www.paradigm.xyz/2022/04/zk-hardware

How Elon Musk think and take action (korean)

Interesting thought process of Elon Musk, human brain as a software, and a strategic enhancement loop.

https://hahnryu.com/2017/05/22/elon/

One thing to make sure is - Cash & Equity is fully backed by the law, but FTs & NFTs are not. We should go through more legal procedures to guarantee and clarify their portion of tokens. Nobody would like tokens w/ crazy volatility & zero utility.

https://www.nfx.com/post/network-bonding-theory

MySQL

[생활코딩] https://opentutorials.org/course/3161/19531
[SQL 독학 강의 전체 A to Z] https://stricky.tistory.com/333
https://stricky.tistory.com/category/Database/sql%20강의

RIP Good times (Sequoia Capital, to portfolio companies)

CEX airdrops going live soon, with Binance happening at 2pm UTC
- Overall 158m LUNA to be distributed to exchanges (~16% total supply)
- 111m vested, 47m available immediately
- Majority of exchange airdrops going to Binance
- 100m LUNA total (68m vested, 30m available immediately) >> ~10% total supply, 61% of total cex airdrops
- We can assume a dump as large majority of users (assumption) were UST holders doing the binance staking programme
- About $300m sell pressure on orderbooks based on current ~$10 LUNA price

Source: https://agora.terra.money/t/psa-how-much-luna-per-exchange-binance-60/42327

거래소에서 루나 구매하신분들은 참고하면 좋을 것 같습니다 :)

L2 솔루션이 ETH 가격에 미치는 영향

https://xangle.io/research/6240ffb0b006a6698f8bb6e9

L2BEAT is an analytics and research website about Ethereum layer two (L2) scaling. We provide a comparison of the various Ethereum L2 systems available today.

https://l2beat.com/

살면서 조금이라도 더 과학자처럼 사고하고 싶다면 이 세 가지를 기억하면 된다.

1. 지금 자신이 알고 있는 것으로 자만하지 말 것
2. 실현 가능한 것에 대해 자신감을 가질 것
3. 중요치 않은 일에 대해선 두려움을 버릴 것.

올해 2~3월부터 Solana (L1) + Phantom (Wallet) + Circle/Goldman (Stablecoin) + FTX/Coinbase (CEX) + OpenSea (NFT Marketplace) 등 Web2/Web3 얼라이언스가 함께 움직이고 있는 소식들을 포착해서 제가 운영하는 텔레그램 https://t.iss.one/jonghodanielpark에 정리해뒀던 내용입니다. Solana에 대해 개인적으로 좋지 않은 뷰를 가지고 있습니다만, 30분씩 딜레이 되고 가끔씩 뻗어도 결국 같이 움직이는 주체들이 Goldman, FTX 등이고 VC 투자액도 역대급으로 컸던 L1 체인이기 때문에 망하기 또한 정말 쉽지 않을 것이라고 판단했었네요.

1/ (Jan 26) Solana NFTs available on Opensea
https://decrypt.co/91220/opensea-solana-nfts-phantom-wallet-leaked-images

2 / (Feb 2) Phantom iOS App에 이어 이번에는 Solana Pay. USDC의 payment gateway protocol. UST(Terra)는 Chai, Alice 등 이미 다양한 결제 서비스를 실험/준비하고 있었는데, 이제 USDC도 본격화되는 모양새.
https://solana.com/news/solana-pay-announcement

3 / (Feb 2) 물론 USDC 뒤에는 legal issue에 가장 잘 대처하고 있는 Coinbase와 Circle(Goldman backed)이 있기 때문에, 파급력이 더 셀 수도 있겠다는 생각. 역시 솔라나도 그림이 크구나.
“The launch of Solana Pay is a critical step toward broadening access and usage for merchants and customers who want a faster, more efficient payment option for everyday commerce.”
Jeremy Allaire, CEO of Circle
https://www.circle.com/blog/solana-pay

4 / (Feb 2) 한편 같은 alliance인 Coinbase도 Solana adoption에 한창. Solana는 기본적으로 지체 규격(SPL, think of ERC-20 of Ethereum)을 사용해서 EVM-compatible 하지 않기 때문에 밑작업을 다시 해야 하는 불편함이 있다. Coinbase의 이번 $FIDA, $ORCA 상장을 시작으로 많은 솔라나 계열 토큰들이 상장할 것.
https://www.coindesk.com/business/2022/01/31/coinbase-lists-solana-tokens-for-first-time/
+ 앞서 소개한 Opensea의 Phantom wallet adoption까지 같이 보면 확실히 Solana가 mass adoption을 착실히 준비해 나가고 있다는 사실을 알 수 있다.

5 / (Mar 3) 넥스트 텐센트 혹은 그 이상의 포텐셜에 어울리는 기업 혹은 얼라이언스가 있다면, FTX+Solana를 꼽을 수밖에 없다.
3개월 전 FTX는 Solana Ventures, LVP와 $100M 규모의 게이밍 펀드를 런칭한 바 있다. FTX Gaming은 이를 이어 커져가는 게이밍의 본격적인 판을 까는 시도. LVP에서 FTX로 자리를 옮긴 Amy Wu가 이를 총괄, 게임 산업의 주요 벤더로 자리매김하며 CaaS(Crypto-as-a-Service)의 패권을 쥐려 한다.
“We can provide all of that white-labeled for the largest gaming companies in the world, and new indie studios that are looking for a turnkey solution. We're super excited to be a major player in providing and being a technology vendor for the gaming industry.”
https://decrypt.co/93395/ftx-roll-out-crypto-service-games-publishers

7 Things To Read About Bitcoin (For Institutional Investors)
by Matt Hwang, Co-founder of Paradigm

https://www.matthuang.com/seven_things_to_read_about_bitcoin