@kbeecroft
coliven.com Host and attend transformative events and gatherings Hosts use Coliven to sell tickets, run memberships, take payments, and give their community a page people can find. "Why do we gather? We gather to solve problems we can't solve on our own. We gather to celebrate, to mourn, and to mark transitions. We gather to make decisions. We gather because we need one another. We gather to show strength.View quoted post on X
Everybody talks about the patterns and rules of (good) community building—but once you see it in action, when it really works, so many of those things feel unnecessary
Have you ever heard of Enspiral? Here are some reflections from our last European retreatView quoted post on X
Quick thoughts around why I recently changed my mind about RWAs:View quoted post on X
Long term:
RWAs will exist on-chain long term. I have always believed this. Question is how they get on chain.
Why I wasn't bullish RWAs in 2018:
In 2018, many projects were putting real estate on chain, price tracking US equities for investors in other countries (e.g. giving the rest of the world access to the S&P 500, Apple stock, etc), or creating debt markets for real-world borrowers.
But there were many obstacles:
-- Institutions and high-net worth individuals make up the bulk of the demand, but did not want these products on-chain because they did not lack access. Institutional players & HNWI could already access real estate, bonds, and US equities, so they would not change their processes. Putting these assets on-chain was only incrementally beneficial and most of the real benefits (access to defi, composability, etc) couldn’t be realized because there wasn’t infra for it yet.
--Supply was sporadic & had negative self selection. Supply of real estate for example was usually a single building or small cluster of buildings. Few people with real supply were putting it on chain. Usually, the type of assets that came on-chain were those that could not get demand in the real world, and so there was a negative self selection of assets that were available on-chain. This further made it harder to generate demand.
-- Legal issues / enforcement issues.
-- UX & custody issues. Most of demand was coming from non-crypto natives. Crypto UX and custody were a big blockers. Few had the capability to safely self-custody millions in assets.
Why now:
-- The US interest rate environment changed from 0% to 5%. This means (1) dollars on chain want access to real-world yield and (2) there is now demand off-chain for low APR loans.
-- Defi matured. We now have stablecoins, lending markets, exchanges on-chain. The “theoretical” benefits of putting real world assets from 2018 can now be realized.
-- Not all RWAs will “make it” this cycle. Simple, fungible assets like t-bills will make it first. Bonds are in the middle. Real estate will still lag and may not happen in the next few years.
-- UX and custody are no longer huge issues. Crypto-natives want real world yield. Orgs who are already familiar with operating on-chain want access to cheaper dollars. Both parties have familiarity with crypto and also custody and UX have improved a lot since 2018.
Crypto will be the backbone to our global financial system. It taking its first steps toward real world assets today.
Active Contributors and Mandated Groups in the Centrifuge DAO drive our protocol and define its future.View quoted post on X
Reviewing the past year of governance milestones, @kbeecroft explores how the DAO is building a better financial system 🌎
centrifuge.mirror.xyz/dMV6h9yAWFd9Mc…
