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brianwalden last won the day on July 24

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  1. Hey Massena, I went to college not too far from there.
  2. Why is it said that a man is coming on when really he's going off?
  3. Holy crap, when you think about it this way, debtors are short and creditors are long. That's a crazy way to view our financial system.
  4. Anytime you borrow something, you have to pay it back. You're basically betting that it will be worth less to you in the future than it is now. For example, when you take a loan for your car, you're betting that the value of the car to you over the time until you pay it back is worth more than the dollars you're borrowing to get the car. Minting FXRP isn't necessarily a short. You can mint it because you think it will bring you other profits (F-asset rewards or trading fees if you're an agent). In that case, you're borrowing it to farm whatever yield you can get. But you don't profit on FXRP going up in value because at some point you have to pay it back. But minting F-assets would be an interest free way to short them. You borrow against your FLR, then sell them for whatever you're long on, then later when they're worth less you buy them and unmint them.
  5. I don't think you have to do anything to receive the airdrop. Ledger has a software update you'll need to get to be able to spend it. It's already ready to go, you'll be able to download it when Flare goes live.
  6. Nope. While it's certainly a mix of nature and nuture, a lot of what we believe is what we're hardwired to believe. That nope is about your hyperfocus on environment over biology, not the difficulty of truly thinking freely. None of this obliterates freedom. It just makes true freedom very difficult to achieve. But just as Usain Bolt exists, people who are very much able to exercise intellectual freedom exist.
  7. So the combination of Nexo cutting me off and Flare's delay inspired me to go looking around the cryptoverse for other opportunities. I stumbled across the Terra Network. Its native token is LUNA. Two major dapps in its ecosystem are Anchor and Mirror. Both of them issue assets which are trustlessly backed by other cryptocurrencies. The incentive mechanisms are a little different from Flare, but the process is basically the same. Anchor issues UST, a dollar stablecoin, by getting people to stake LUNA and then borrow UST against it. Anyone who puts staked LUNA into the pool can borrow up to 60% of its value - it sounds a lot like minting F-assets, right? Normally, you don't want to borrow that much because 60% is where you get liquidated; they call 45% "safe". Anyway, when you do this you actually create new UST, just as if you were to mint F-assets on Flare or AUR on Trustline. One interesting thing is that they actually pay you to borrow UST, but it's paid in ANC, the dapp's own token. Mirror issues synthetic stocks - they're pegged to the stock price but there's no actual share there. New tokens are issued by putting up collateral and borrowing them. So you could, for example, put up $200 UST to borrow/mint $100-worth of AAPL stock. The interesting thing is, you're not charged anything to borrow this. You can keep it as long as you want, there's no interest. You just have to keep the collateral locked up until you pay it back. This is actually how minting F-assets works. It's an interest free loan. As long as you maintain the necessary collateral, the F-assets are yours. Whenever you decide to pay them back, you can then get your collateral back. One interesting thought I just had is that if you borrow a synthetic stock like this but don't hold onto it (i.e. you sell it for something else), that's essentially a short. An interest free short. That means that anyone on Flare could short F-assets by minting them and then selling them.
  8. If you claimed the regular FLR airdrop, you shouldn't have to do anything else. You'll just receive it. Figuring out how to spend it might be another problem, but I'm guessing Ledger will come out with an update for it.
  9. You could think of it as Flare leveraging the risk onto us. The brave souls who dare to use the beta network take on all the risk with their own funds, and if something goes wrong it's not the Flare Network that gets hacked.
  10. I'm actually not a self-custody maxi. My position is more like self-custody by default, but use custodial wallets if you have a reason to do so. For some people, they're their own biggest risk factor, and they're probably better off letting an exchange keep their keys for them. The real reason I self-custodied for the airdrop is because I was in crypto hibernation and didn't even know that it happened. But if I was on Nexo at the time, I would have moved my zerps back to my own wallet for the snapshot. I wasn't even thinking about the way exchanges are kicking customers off, left and right. I think my concerns at the time would have been that there would be a delay or something and I wouldn't get my FLR right away.
  11. So I agree with @BillyOckham that in principle Flare could have basically made the same rules as the FLR airdrop and said that exchanges are excluded by default and have to opt in. My guess is that in practice they looked at their position and said they're already late and have probably cost exchanges a ton of extra customer support with people asking about the airdrop, and Flare themselves is trying to rush this out and probably doesn't want to deal with it. On top of that, I suspect the reason for the desperate attempt to change the distribution by governance vote rather than just doing it unilaterally before launch was because when Flare tried to sell it to the exchanges, they got a lot of pushback. I'm guessing Flare just decided they were already on thin ice and it wasn't worth it to try to push this. Exchanges can do what they want Another way to look at it is, how many of us had heard of Kusama before this week? This is a big deal for the few us of who are really dialed in. Most people aren't going even going to know that Songbird exists.
  12. Yeah, the past 18 months of Covid hasn't been great on my waistline.
  13. I should probably know who this is but I don't. Also, I've been wearing my Crocs while playing tennis this summer.
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