PaperImperium

@ImperiumPaper

Economics Lead at @megaeth. Views and opinions my own.

Joined July 2021

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PaperImperium
@ImperiumPaper
May 23
A major unforced error in crypto is treating technical dashboards as financial dashboards. Nowhere is this as obvious as with TVL of lending protocols. TVL is NOT a substitute for accounting! Let’s look at TVL defined as “Value of all coins held in smart contracts of the
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PaperImperium
@ImperiumPaper
5h
Many sad stories would be a lot less sad if insurance was widely available. People insure self-custodied valuables all the time, either through their homeowner/renter insurance or a standalone specie/precious metals/collectibles policy. And yet, this kind of coverage in crypto
Bold
@boldleonidas
9h
For me personally moving forward I’m actually going to keep nothing on chain, this incident hasn’t just affected me heavily financially, but mentally too, so if I make any money it’s coming straight off and into fiat. I’m going to become a boomer and DCA into Bitcoin ETFs.
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PaperImperium
@ImperiumPaper
21h
Another workaround around the prohibition on interest (which meant usury) should be very familiar to the DeFi crowd: rewards that were up to the bankers’ sole discretion. Called discrezione, it was the yield paid on time deposits. The logic went that because the yield was at
PaperImperium
@ImperiumPaper
Aug 18
The foundations of modern Western finance were built by regulatory arbitrage - but around Church regulations, not governmental! The bill of exchange is the basic building block of what we can recognizably call banking and finance in the West. Why? Because it allowed for
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PaperImperium
@ImperiumPaper
22h
Kind of amazing how the Medici operated a kind of holding company instead of all siloed individual partnerships, as was the style at the time. On the one hand, this exposed the whole organization to liability, but given the lending between branches, contagion was always going
3
PaperImperium
@ImperiumPaper
Sep 5
I’ll try to steelman the opposition position: RH tokenized stocks are probably disliked for the same reason non-sponsored ADRs are disliked: the company’s name is on something it didn’t authorize and doesn’t do things like revert unvoted shares to management control. The new
Luigi D'Onorio DeMeo
@luigidemeo
Sep 5
I don’t understand why these tokenized stocks are bad for public companies in a way that perps or TRS or options aren’t?
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