Unchained

Cobie, co-founder of Lido and UpOnlyTV, teams up with Chris Burniske, a partner at Placeholder Ventures, to dissect the nuances of surviving a crypto bear market. They analyze the ramifications of the Terra collapse and discuss why Chris believes these downturns present prime buying opportunities. The duo explores the potential future of algorithmic stablecoins, the effects of macroeconomic trends, and why certain risky assets could soar. They also reflect on valuable lessons learned from past mistakes while forecasting the innovations that could spark the next bull cycle.

Tascha Che, founder of Tascha Labs and a prominent figure in the stablecoin market, dissects the Terra/Luna collapse, sharing five crucial lessons. She explains how stablecoin issuers operate and why algo stablecoins excite her. Tascha discusses the risks of undercollateralized stablecoins and the importance of actual demand for stability. Interestingly, she argues that smaller stablecoins may be more effective and advocates for cross-chain agreements to enhance crypto ecosystem resilience. Additionally, she reflects on the potential regulatory implications post-collapse.

In this discussion, Kevin Zhou, CEO of Galois Capital and a well-known skeptic of UST, shares his early warnings about the TerraUSD collapse. He explains how the depegging triggered a 'fear cascade' and criticizes the lack of transparency from the Luna Foundation Guard. Zhou delves into trading strategies during the meltdown, revealing how Galois handled the crisis. He also discusses the broader implications for both crypto and traditional finance and the role of regulations in the aftermath, highlighting the perilous nature of algorithmic stablecoins.

In this engaging discussion, Nic Carter, a partner at Castle Island Ventures, Eric Wall, a former CIO at Arcane Assets, and Erik Voorhees, founder of ShapeShift, delve into the downfall of Terra and its algorithmic stablecoin. They debate the misconceptions surrounding UST's stability and the market dynamics that led to its collapse. Opinions vary on whether algo stablecoins can succeed, with Erik sharing how his views evolved. The trio also addresses the arrogance of Terra's founder, risks of liquidity issues, and the critical lessons the crypto industry must learn.

Jon Wu, head of growth at Aztec Network and a key voice in the Terra/Luna ecosystem, dives into the recent chaos surrounding $UST and $LUNA. He discusses how a Bitcoin short may have triggered the depeg and posits it could have been a deliberate attack. Wu draws parallels between the project’s mechanisms and traditional financial entities, explaining the implications of low liquidity and governance challenges. Despite the turmoil, he shares his belief that algorithmic stablecoins aren’t finished yet and offers insights on the future of $ ext{LUNA}$ and $ ext{UST}$.

Kain Warwick, founder of Synthetix, and Ben Jones, co-founder and chief scientist at Optimism Foundation, dive into the latest developments in Ethereum's Layer 2 ecosystem. They unpack the differences between optimistic and zero-knowledge rollups and explore why Synthetix chose to build on Optimism. The duo discusses Optimism's innovative governance structure, the implications of retroactive public goods funding, and the exciting concept of a 'superchain.' They also touch on the challenges of community governance and the potential future of bridging between Layer 2s and Ethereum.

Eric Golden, host of Web3 Breakdowns and owner of Bored Ape Yacht Club NFT #7560, dives into the whirlwind of the Otherdeed NFT drop, which burned over $150 million Ethereum. He discusses the controversial choice of a fixed minting price over a Dutch auction and the chaotic KYC requirements. Golden shares his insights on the gas war that ensued and critiques Yuga Labs' communication and responses. He believes Otherside doesn't need its own chain and is optimistic about Yuga Labs' plans for a metaverse game, amidst the buzz surrounding Kodas and their high trading values.

Andre Cronje, a leading figure in decentralized finance, joins the conversation to discuss his controversial exit from DeFi and the reasons behind his return to regulated crypto products. He addresses criticisms comparing his departure to a rug pull while exploring the complexities of KYC in crypto. The hosts dive into the chaos surrounding Yuga Labs' land sale and its implications on the Ethereum network. They also reflect on the challenges Solana faced during NFT sales and the significance of developing robust blockchain architectures.

In this engaging discussion, André Allen Anjos, aka RAC, a pioneering crypto-friendly artist, joins David Greenstein, co-founder of Sound.xyz, a web3 music platform. They delve into how music NFTs can reshape artist monetization, arguing that the traditional industry often undervalues music. RAC shares his experiences with NFT drops and contrasts earnings with Spotify streams. Greenstein emphasizes community-building through music NFTs and the significance of smart contracts in creating transparency. The future of music is here, and it’s decentralized!

Chris Perkins, president of CoinFund and a veteran of traditional finance, shares insights from the Crypto Bahamas conference and discusses FTX.US's groundbreaking proposal to directly trade crypto derivatives in the U.S. He delves into the challenges faced by traditional financial markets and the potential benefits for retail traders. Perkins also highlights how FTX’s acquisition of LedgerX empowers this shift, and how this move may disrupt regulatory norms while challenging established players like CME in the derivatives landscape.