The Return of ICO’s, ETH’s Issuance Tinkering & DeFi Drama

APR 04, 2024 • 61 Min

Jose Maria Macedo + 3 others
Yan Liberman, CFA, CAIA
Ceteris
Duncan Reucassel
Jose Maria Macedo
Disclosures: Nothing said on The Hivemind is a recommendation to buy or sell securities or tokens. T

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The conversation revolves around two main themes: investment clubs and ETH issuance. The discussion on investment clubs focuses on the adverse selection problem and the potential benefits and drawbacks of using platforms like Echo and Legion for fundraising and community building. The conversation on ETH issuance explores the proposal to change the ETH issuance curve and the arguments for and against it. The participants also touch on the challenges faced by larger funds in the crypto space and the impact of stake rates on the moneyness of ETH. The conversation revolves around the recent developments in the MakerDAO ecosystem, particularly the introduction of the Ethena stablecoin and the controversy surrounding it. The hosts discuss the impact of Ethena on stablecoin yields and the overall DeFi market. They also touch on the feud between MakerDAO and Aave, as well as the potential risks and benefits of MakerDAO’s plans to split into sub-daos and launch new tokens. The conversation highlights the competition among protocols to attract capital by offering higher yields and the importance of understanding the risks and reflexivity of these systems.

Chapters

00:00 Introduction to Investment Clubs

01:15 Adverse Selection Problem

14:01 ETH Issuance and Stake Rates

16:19 Challenges Faced by Larger Funds

28:29 Impact of Yield Reduction on Staking

30:52 The Impact of Ethena Stablecoin

35:30 Feud Between MakerDAO and Aave

51:00 MakerDAO’s Plans to Split

57:09 Competition for Higher Yields

01:00:58 Conclusion

Listen On:

Jose Maria Macedo + 3 others
Yan Liberman, CFA, CAIA
Ceteris
Duncan Reucassel
Jose Maria Macedo

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