Hello world!
Welcome to the first edition of The Weekly Scroll, a newsletter from the ScribeDAO community. Here we will "roll up" summaries from the previous week and share updates from our community of scribes.
Our top contributors from the week were Sam (decentbass.eth), goolag.eth and fishbiscuit!
If you'd like to join our growing list of contributors be sure to join the ScribeDAO Discord here.
Community Updates
On Thursday (10/14) we had our 2nd community call -> check out the meeting notes captured by Ron.
#scribes-follow-scribes -> We’ve got a new twitter list to keep up with all of our scribes in real-time.
Be on the lookout for our upcoming community survey.
Latest Summaries
General
Forefront Community Roundup: "Radicle Funding for Dev DAOs, Orca Pods, $GEEX & DAMNs” - summarized by Mataverse
Social tokens are coming into their own. Radicle offers a new model for continuous OSS funding. Felicia Day is bringing her community to web3. Curation is hard, projects like ScribeDAO and Context are here to help.
"The Meaning of Decentralization" - summarized by Sam (decentbass.eth)
There are 3 types of decentralization, each with their own set of challenges.
"Why Decentralization Matters" - summarized by Sam (decentbass.eth)
Decentralized networks fix Web1's issues with capability and Web2's issues with extracting value from users
"Volitions: best of all worlds" - summarized by goolag.eth
Volitions are a magical solution that have the capability to create interoperable composability between blockchains by allowing users to choose their preferred data availability layer
"The Model of Everything" - summarized by Learn3r
Inspiration for ScienceIO came from a company called Flatiron, which collects and organizes real-world clinical oncology data from clinics and hospitals, processes the data, and sells the clean data for R&D users.
DAOs
"Working for DAOs" panel - summarized by fishbiscuit
Crypto is the underlying infrastructure for web3 that allows for better distribution, decentralisation, and community ownership. Join DAOs you love, start one-on-one conversations and contribute first, demonstrating the value you can bring.
"Composable Membership and its Role in Generating Social Capital" - summarized by fishbiscuit
Composable membership shapes more than just communities, it will shape ecosystems and platforms as well.
“Motion: DAOs are better than corporations.” - summarized by fishbiscuit
Structural innovations by DAOs could already be done in theory with existing corporate structures. It is hard to measure the tradeoffs as the space is still too new.
NFTs
"Ranking NFT Platforms: A Guide For Brands" - summarized by katiewav
Delphi Digital covers Ethereum, Flow, WAX, Polygon, and Immutable X. Overall, Immutable X ranked highest (after Ethereum) excelling in high throughput and security; Polygon was the balanced solution; flow came next driven by brand power (home of NBA Topshot); WAX came in last as the laggard.... read the whole report here.
"OpenSea: The Reasonable Revolutionary" - summarized by Learn3r
NFTs are for real — the trend is accelerating; not just from a “data” perspective but also considering that only a tiny fraction of the world’s population is into crypto and a tiny fraction of those crypto folk are into NFTs; it’s still day one for NFTs any way you look at it.
"NFT Projects are just MLMs for Tech Elites" - summarized by Tony Says
Comparing MLMs and NFTs are not exactly comparing apple to apple, but our deep aversion to failure may usher in the same defeat.
Key Elements of Successful NFT Collectibles Explained - summarized by frozenhustla
Key elements are scarcity, community belief in creators, novelty of the idea, quality artwork, use case, access to groups/events, culture, or outright absurdity. Sustainability is key. Transparency+low mint price will increase revenue. Drop date most important event
Metaverse & Gaming
"Play to Earn is the Future of Gaming" - summarized by Ideas In A Jiffy
P2E games promotes user ownership and rewards gamers. While still in it's early days, the trend is here to stay.
Thread on The Pathway To An Open Metaverse by goolag.eth
There is a narrow window to seize in the creation of the Open Metaverse before the institutional powers that be remove any threat to their oligarchy by superimposing their archaic social models on Web3
Investing
"There's Been a Zero-to-One Switch for Institutions and Crypto" - summarized by niharika.eth
Interview with Dan Moorehead discussing Pantera Capital's three-figure return investment strategy.
“Things can Compound Indefinitely”: Secrets of Multicoin Capital’s Success - podcast summarized by frozenhustla
Multicoin Capital operates using 3 core investment thesis’, have significant conviction in Solana due to Ethereum’s scaling problems. Their primary area of focus looking forward is helium-like networks that incentivize adoption through real-world value creation.
"Crypto Bezos" - summarized by Ideas In A Jiffy
Web3 today mirrors the internet in the late 90s. Bezos would likely be interested in Web3 as a means to an end. Project would be hyper focused on consumer experience.
DeFi
Thread on Strips Finance by goolag.eth
Strips is a derivatives DEX that's bringing a classic TradFi derivative to crypto: Interest Rate Swaps (IRS), and if executed properly Strip could see growth on the level of dYdX or other derivatives EXs
Thread on Tokemak roadmap by goolag.eth
Mid-late Nov liquidity direction voting begins, and after liquidity will be deployed to exchanges
Thread on Alchemix Bonds on Olympus Pro by Joe Pettibone
A month ago, @scupytrooples proposed that @AlchemixFi allocate 10% of its LP rewards budget to sell bonds thru @OlympusDAO's Olympus Pro program. There were only two concerns in the forum. Spoiler: Bonds sold out on day 1.
"What is Trader Joe (JOE)?" - summarized by ishaanNewGrad
Trader Joe is currently the largest AMM DEX built on Avalanche. Total value locked in $1.03B.
"A Complete Guide to Wonderland Money" - summarized by ishaanNewGrad
$TIME is a currency backed by a basket of assets with a $865M Market cap offering a staking APY of 48,408.9%. Thread on why it might be a better solution to inflation than Stablecoins.
Web3
“Web 3.0 and the Future of Trust” - summarized by Sam (decentbass.eth)
Crypto technology will allow us to shift our locus of trust from institutions to code.
Thread sharing ideas DAO ideas from GVO by 0xJim
Some gigabrain ideas from GVO.
"Kevin Rose from Web2 to Web3" - summarized by isaac 晏
@kevinrose talks abt TechTV days, building startups like Digg, getting into crypto in 2011, investing @trueventures and hosting @modern_fi & @proof_xyz
Culture & Community
"Crypto Endangered: Confronting An Existential Threat" - summarized by goolag.eth
The US Gov has the capability to cripple innovation and usage of crypto across the country, and unless our collective can band together and overwhelm politicians into believing we're the future then dark times are ahead.
“The internet as your resume” - summarized by tinotenda.eth
Build social capital as soon as you can‼
Macro, Policy & Regulation
“SEC Approves Bitcoin Futures ETF, Opening Crypto to Wider Investor Base” - summarized by 0xshub
The Securities and Exchange Commission greenlighted bitcoin futures ETFs in a first for the industry on Friday, after the regulator’s five commissioners met on the issue. ProShares, which filed for its Bitcoin Strategy ETF this summer, may be the first to launch next week.
“CFTC Fines Tether and Bitfinex $42.5M for ‘Untrue or Misleading’ Claims” - summarized by 0xshub
The Commodity Futures Trading Commission (CFTC) fined Bitfinex and Tether more than $42 million on allegations the USDT stablecoin was not fully backed at all times and that Bitfinex violated a previous agency order.
“Bank of England Says Crypto Has Grown to Twice the Size of Subprime Debt in 2008” - summarized by 0xshub.eth
Crypto assets have grown rapidly from just $16 billion five years ago to about $2.3 trillion today, and thus could pose a systemic risk to the global financial system, the Bank of England said on Wednesday.
Want more? Join the Scribe DAO community!
Let us know what content you’d like to see synthesized this week. Tag content with @ScribeDAO on Twitter so we can add the best articles and podcasts into our backlog!
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