Finding Product Market Fit by Tokenizing Uranium

The best and worst parts about crypto both stem from the same thing- the fact that it is completely permissionless. I am still on the fence about where this next idea falls: tokenized uranium in MakerDAO .

MakerDAO, the protocol creating and issuing the decentralized Dai stablecoin, has begun to have real world asset vaults as part of its collateral base. As a part of this, anyone who is a part of the DAO can propose what sorts of assets to accept as collateral for Dai.

Uranium is of course a key part of a nuclear energy dependent future, so tokenizing some kind of index price of the underlying asset to be traded and used in Defi is not out of the question.

Either way this is a great opportunity for the person running this company (Uranium3o8) to shill their project and get some attention on CT.

Uranium3o8 is a protocol that lets people trade their $U token, an ERC-20 backed by physical Uranium. You can even redeem your $U for Uranium in the real world, given you take more than 20,000 pounds worth and are eligible aka not a threat to create nuclear weapons (all of this is according to their website.)

AI to the Rescue

Turns out maybe SBF is actually the genius trader that Michael Lewis keeps claiming he is. Looks like he made a sizeable investment in Anthropic, the AI software company growing speed, and that ballooning investment is going to make FTX creditors whole.

Congrats to SBF and everyone who is going to get paid out on this, it’s heartwarming to see that the success of another industry can help us recover from the fraud in ours.

Friend Tech Learns the Downside of (3,3)

(3,3) on Friend Tech is a beautiful idea. The story goes that as you buy and hold the shares of the top accounts on FT, their value continues to go up as you are clearly early to the game. Friend Tech, being an immaculate ponzi, rewards via points the people who hold the highest value keys for the longest period of time.

Since new entrants are attracted like moths to the flame of the Paradigm-backed Friend Tech points, the prices of these highly valued keys goes up even higher as the flywheel of points to key key price going up kicks into high gear.

Yet, like everything else in crypto, we have taken it too far and the fun is now probably over. People have begun to use this moth like behavior to lure in their Twitter followers and dump shares on their heads.

This type of behavior is to be expected of course when an app is running out of steam and the people still engaging are doing so for reasons outside of the inherent fun or utility.

Patrick McHenry (big crypto guy) now Speaker… Bearish?

This is definitely not a politics newsletter. But in the USA ousting an active Speaker of the House is a big deal. More so given the fact that the new Speaker, Patrick MHenry, is a big crypto guy.

Somehow this turns out to be a bit bearish for crypto regulation it seems. While we are not experts here are the Decent Headquarters, it turns out McHenry was also head of the Financial Services committee, where a lot of the crypto based legislation is actually generated and pushed through.