Kerman Kohli

Kerman Kohli

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Kerman Kohli
Kerman Kohli
15 Things I’m Reading

15 Things I’m Reading

Kerman Kohli
Mar 29, 2022
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Kerman Kohli
Kerman Kohli
15 Things I’m Reading
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  1. First up on the list, the king decides to start gaining some serious momentum by talking about the next phase of their growth. Wormhole (cross-chain bridging) and D3M (deposit directly to other protocols) coupled with real-world assets (bit skeptical on this one), will lead Maker to some new heights. It’s hard not to be in awe of the scale and ambition that you see in this thread.

Twitter avatar for @hexonaut
hexonaut.eth | 🪱🕳ing @hexonaut
It’s time for the Maker protocol to take bold action and seed the next phase of DeFi. The bull market has been kind to us all, but that time is passing. We need to take the next step and begin integrating with the real world at scale. Here’s how we do it 🧵👇
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1:40 PM ∙ Mar 16, 2022
288Likes62Retweets
  1. The tone around liquidity mining is becoming even rougher than before. This tweet from Dan Robinson succinctly highlights the biggest danger that you run with running such a scheme: you never actually find true product-market fit. In the comments, the other curse is having users use your product with the expectation of a retroactive airdrop which is also pretty terrible. Being honest with yourself is hard in crypto when the incentive to not do so in the short term is high. However anyone who has made generational wealth knows, it’s always the long term that matters.

Twitter avatar for @danrobinson
Dan Robinson @danrobinson
If you start incentivizing usage before you've found product-market fit, you hopelessly scramble the signals you need to find it You might decide it's worth it, but know that you'll be flying blind
5:17 PM ∙ Mar 16, 2022
602Likes64Retweets
  1. As a natural extension of the above tweet, we see the other dark side of pumping a token with liquidity mining: what happens when the money runs out? Turning off the tap is hard because all the features are incremental at best, so differentiating outside of free money is a challenge. DEXs, lending and yield optimisers are all in a similar spot for everything outside of the top 2-3 protocols.

Twitter avatar for @lsukernik
Larry Sukernik @lsukernik
Many defi projects are in a weird place. They have a product that works, but they're worried what happens if liquidity mining is turned off. Many are also unsure about where to go next. Adding incremental features isn't enough, and building adjacent products is hard. Tough.
1:19 PM ∙ Mar 18, 2022
76Likes6Retweets
  1. Is the stablecoin market over for newer entrants? Maybe, maybe not. However it’s hard to see how anything outside of USDC, USDT and DAI getting solid traction. Yes UST is up there but we’ll need to see how it sustains over a longer time horizon without artificially high yield promises to really understand its staying power. Every new crypto participant needs to be rekt by one stablecoin project before they learn. Maybe just every cycle you have a new algo stable that’s meant to rinse the new class out of their money and teach them the same lesson every previous generation learned the hard way...

Twitter avatar for @mewn21
mewny @mewn21
its 2022, please let go of algorithmic stablecoins. they will never work. they will never be a revolution or an innovation. stop plz.
12:01 PM ∙ Mar 18, 2022
426Likes21Retweets
  1. Okay so I’ll be honest, I still haven’t had enough time or bandwidth to go deep into Layer Zero but it’s right up there in terms of things that I’m highly interested in learning about. This thread seems to be a good breakdown if you’re keen on going deeper. I’ll do a write up in a few weeks on this though.

Twitter avatar for @TTx0x
TT (Avax, Rona) 🤧 @TTx0x
Had the privilege to write a thesis abt the giga-brains at @LayerZero_Labs Here's a *tl;dr* for plebs like mi 🧵
Twitter avatar for @SinoGlobalCap
Sino Global Capital @SinoGlobalCap
Why we invested in @LayerZero_Labs Not financial advice.
6:35 PM ∙ Mar 17, 2022
75Likes22Retweets
  1. I wasn’t sure how Optimism was tracking until this tweet came out... wow. $150m is pretty solid Layer 1 kind of money. Once Optimism launches a token they have a real shot of competing with solid incentives and an organic ecosystem behind them. That being said, the FDV is going to be incredibly high and ensuring that early users and ecosystem partners are well incentivised is going to be crucial for the long term success because otherwise it’ll just be private investors + team that will reap the most from the token launch.

Twitter avatar for @optimismPBC
Optimism 🔴✨ @optimismPBC
After over a year on mainnet, our milestones keep adding up: $1B in gas fees saved for users, thousands of smart contracts deployed, three separate forks... And now: funds raised to the tune of $150M, giving us runway to keep shipping rain or shine.
medium.comMoney Long, Team StrongLaying Strong Foundation
4:00 PM ∙ Mar 17, 2022
371Likes69Retweets
  1. I don’t like larping about tokens that go down, although SPELL deserves a bit of a call out here given that the majority of Crypto Twitter was 100% convinced they’d overthrow MakerDAO at the peak while being blind-sided about the ridiculous amounts of liquidity mining going on simultaneously. This chart is the way it is because there is excessive supply that is on the market that no one wants to touch. Demand drivers are hard to catalyse for a token.

Twitter avatar for @0xMerp
Milady8118 @0xMerp
It appears Frog nation may have gone extinct. Hang Seng index up 16% in 2 days, NQ over 8%, BTC and ETH 10% +, Oil + 7% today alone and this shitcoin still cant catch a single bid
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Twitter avatar for @0xMerp
Milady8118 @0xMerp
$spell currently has infinity sellers and probably will for a while, if you don’t understand why you’re probably not going to have a fun time in 2022
5:07 PM ∙ Mar 17, 2022
97Likes7Retweets
  1. NFTs, The Metaverse, Holograms, Avatars — they’re all converging. The video in this tweet is a great example of how immersive NFTs are going to be and how JPEGs are just the start and probably not even 1% of what we can do. This below is the future that I’m down to sign up for and invest in. The design space of NFTs is tremendous.

Twitter avatar for @AnataNFT
Anata @AnataNFT
In case you missed it, check out yesterday's full demo of Anata NFT! Includes info on streaming, meetings, the one-click @HologramLabs extension including voice modulation, the upcoming sale via Metadrop, some ways holders could use the treasury (3D VRM Anatas??) & more
1:21 AM ∙ Mar 17, 2022
380Likes74Retweets
  1. This tweet got me thinking more about what the future of work and resumes might be and it occurred that we’re seeing this happen before our eyes.


    As more things are done on-chain or tied to a Web3 address, signalling has less value since the actual proof of work is very easy to see and inspect. Exciting times.

Twitter avatar for @zhusu
Zhu Su 🔺🌕 @zhusu
Yes American university tuitions keep going up, but that's a greater fool ponzi with very little correspondence to the real world Reality is it's never been easier to signal quality via online proof of work, and never been less necessary to get an Ivy League degree
9:20 AM ∙ Mar 17, 2022
798Likes69Retweets
  1. In case you weren’t super plugged in, something that slipped the headlines was Binance raising/raised at a $300b valuation. Yes, you read that right. I honestly have no idea how it would ever float at that valuation or if it’s really even worth that much. Still ludicrous to see.

Twitter avatar for @inversebrah
starbust @inversebrah
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4:59 AM ∙ Mar 14, 2022
129Likes9Retweets
  1. A great follow-up write-up from the above is from Tyler. Why would a CEX be worth that much when their future is bleak and the path to liquidity is questionable. Who knows. Crypto Private markets are a whole new beast all together but seem like they’re going to be heading for a reckoning at some stage.

Twitter avatar for @tbr90
Tyler Reynolds @tbr90
I remain in disbelief that CEXs are valued so much by investors How are you in crypto enough to invest in CEX and don’t see everything is going to move on-chain with infinite mobility of capital? CEXs become little more than a fiat gateway and custody platform in 5 years
5:17 PM ∙ Mar 18, 2022
157Likes8Retweets
  1. Speaking of crazy raises, we have another contender: Metamask and Consensys. I’d say the case here is slightly stronger but still, these valuations aren’t a joke by any means. A $7b valuation, up from $3.5b just a few months ago. Idk man, feels frothy to me.

Twitter avatar for @loomdart
loomdart @loomdart
They 100% used revenue from the metamask swap they jacked up by larping about a token to justify this valuation to investors LMAO
coindesk.com$450M Raise Values Ethereum Builder ConsenSys at $7B as MetaMask Tops 30M UsersThe hefty Series D more than doubles the firm’s previous valuation from November 2021.
2:56 PM ∙ Mar 15, 2022
277Likes25Retweets
  1. I’m not sure what this image is meant to be but I guess it looks kind of dank haha? TLDR is that Maker is getting more aggressive about adding more recursive collateral types. This one is the LP share for stETH in Curve which has a few billion in TVL. Once a DeFi protocol ach

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