A fascinating crypto experiment in incentive design and Harberger Tax, curtesy of Simon de la Rouviere.
This NFT is always on sale at a price decided by its last owner. Anyone can buy it at that price and set a higher sale price, so long as they pay a 5% annual patronage fee to the original creator. The fee is taken out of an ETH deposit the buyer needs to set aside in order to complete the purchase.
Rainbownet is a cool new protocol related to something I've been thinking a lot about lately: bringing off-line assets on-chain.
The main use case that people have been targeting for the past year is real-estate and early stage startup equity, but I think we'll soon realize we all got it wrong. We should have targeted hyper-liquid public equities, commodities and similar assets first.
The reason is that you don't really bring them on-chain, but you create a synthetic version and then hedge offline with the real asset!
The more crypto-y description of Rainbow tho would be "an off-chain non-custodial exchange and payment network supporting any liquid asset."
SportX is a non-custodial betting exchange built on Ethereum and the first Dapp on the BetX network.
It's effectively a decentralized, P2P and uncensorable version of Bet365, where bettors get rewarded with a token that gives them governance rights to the 'protocol fund' that accrues trading fees from BetX-based dapps. Currently the fund has $2.6k worth of DAI in it.
Some details supposedly emerged on Bakkt valuation at the $182M Series A round announced last year.
$740M is pretty mind blowing for a pre launch startup, though interestingly the fine print of the deal suggests that the investors also hold a put option issued by ICE that grants them equity redemption rights in case of milestones being missed.
Paradigm and Placeholder have purchased $11M worth of NMR (Erasure protocol's native token) in a secondary transaction, we presume, from Numerai's balance sheet. A transaction along the lines of A16Z recent purchase of MKR tokens.
The funding will go towards launching the Erasure marketplace later this year.