AMA#1 - Kain Warwick of Synthetix

Aug 17, 2020

Kain Warwick, the visionary founder of Synthetix, dives into a lively AMA, addressing burning questions from the crypto community. He shares insights on overcoming Ethereum's high gas fees, likening Layer 2 solutions to Brooklyn compared to the main chain's Manhattan. Warwick reflects on the lessons from the rapid rise and fall of the YAM project in DeFi. He also discusses the future of synthetics trading with ETH2 and the challenges of scaling in a volatile market. Expect candid thoughts on governance, community coordination, and the promise of decentralized finance.

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ADVICE

Scalability Solution

Synthetix is tackling scalability by collaborating with Optimism for a Layer 2 solution.
They aim to launch a pseudo-mainnet soon to address high gas fees.

ANECDOTE

YAM Experiment

Kain Warwick participated in the YAM experiment, joining the yield farm and later attempting a rescue.
He prefers a community-driven V2 approach due to the failed on-chain governance.

INSIGHT

Experimentation Value

Kain Warwick views the YAM experiment positively, emphasizing the importance of experimentation in DeFi.
He acknowledges risks but believes small-scale failures are valuable for overall learning.

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Kain Warwick, Founder of the Synthetix Platform, presents himself to the Bankless Nation for a live AMA!

We ask him anything! No question off limits.

This is a BONUS episode. Regular podcast episode (#26) will be released tomorrow.

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We do AMAs every 2nd and 4th Thursday of the month.

Become a Bankless member to get access to the Zoom Webinar and ask questions to future AMA guests like Kain directly!

Here's the video recording.

Kain is the founder of Snythetix, a popular synthetics and derivatives market on Ethereum. The Bankless Nation asks him questions about:

High gas fees
yams lol
Yield farming
Future vision for synthetics
DeF in a Layer 2
Central bank digital currencies
The final boss
Eth2
What he learned from 2017
Bull market price predictions!

And more....

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