Token Value Capture: Moats, Growth and Protocol Fees | Chris Burniske, Fernando Martinelli

Season 2 | Episode 6

In this episode of Bell Curve, Chris Burniske and Fernando Martinelli join us to discuss how to build sustainable, value-accruing protocols. We start with this simple question and dive deep into the mechanics behind token value accrual. The group discusses DAO capital allocation, evolving fee markets, the efficacy of airdrops, rewarding labor vs capital, the problem with a fixed token supply and more!

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Timestamps:

(00:00) Intro: Pre-Interview

(02:28) Balancer: Self-Sustaining Infrastructure

(11:55) Hyperscaling

(18:24) How Will Fee Markets Evolve?

(31:58) Capital Allocation Decisions

(40:48) “Reserve Ad”

(43:12) Airdrops, Identity Solutions and Rewarding Labor

(59:46) Pushback Against VCs & Insider Allocations

(1:06:27) Moving Away From A Fixed Token Supply

(1:12:13) Returning Capital To Token/Shareholders

(1:16:51) Building Moats In Crypto

(1:24:41) Recap: Post-Interview

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Follow Chris: https://twitter.com/cburniske

Follow Fernando: https://twitter.com/fcmartinelli?lang=en

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Follow Jason: https://twitter.com/JasonYanowitz

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Resources:

Placeholder

https://www.placeholder.vc/

Balancer

https://balancer.fi/

Dan's UNI-chain thread

https://twitter.com/delitzer/status/1575497730343899136?lang=en

Chris's tweet on VC preferential access

https://twitter.com/cburniske/status/1602181852776878086

The Original Sin

https://www.placeholder.vc/blog/2021/4/1/the-original-sin

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Reserve Protocol aims to protect consumers from the effects of high inflation and hopes to one day eradicate it.

It's a self-service, permissionless factory where anyone can build, deploy and govern their own asset-backed stablecoins (RTokens), which can be integrated within DeFi and real-world commerce.

The Reserve App is a user-friendly way for ordinary people to buy RSV stablecoin with their local currencies and use them locally. More info at https://reserve.org/

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Disclaimer: Nothing said on Bell Curve is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mike, Jason, Michael, Vance and our guests may hold positions in the companies, funds, or projects discussed.