2020 was a game changer for Ethereum.

The vast majority of its success was fueled by #DeFi.

Here's what happened in 5 Tweets 🔽

1) Governance Tokens 🪙

Projects gave complete ownership of billion dollar protocols to their users, often using retroactive airdrops.

Early adopters earned tokens for past usage, and token-based voting now dictates all technical upgrades.

https://t.co/uzR8NW5AyD
2) Liquidity Mining ⛏️

Power users were the first to earn on-going distribution by providing liquidity.

$COMP sparked the wave, with $BAL coining the term a few weeks later.

https://t.co/BGqUNjc0kC
3) Yield Faming 🌾

Projects coupled liquidity mining and governance tokens to boost 'yields' by combining lending rates with an incentive layer.

APYs peaked as high as 1M% during 'DeFi summer', leading to a 'food coin' craze like $YAM and $SUSHI

https://t.co/59pCAav7pk
4) Fair Launches ✅

Who needs investment when you can launch using yield farming?

@iearnfinance debuted $YFI with no formal funding, seeding a community treasury for self-sustainability.

The notion of a core team and community became one and the same.

https://t.co/OuTWjSrcjd
5) Meta-governance 🗳️

Delegation and indexes allowed projects to vote on other protocols using assets under management.

$DPI is the best example, using its $COMP and $UNI to vote based on $INDEX sentiment.

https://t.co/XLjrtRau3w
Key Takeaways:

- Early adopters got paid
- Putting capital to work netted the highest returns
- Liquidity allowed teams to seed a community treasury.
- Treasuries accrued tokens, used to govern other protocols.

Most importantly, team and community merged together.
What's Next?

Composability will flourish, and projects will win liquidity based on cash flows, rather than short-lived APYs.

Governance incentives will boost participation, leading to a vibrant number of protocol politicians.

Curation will thrive.
https://t.co/dxw2P0roQL
This was without a doubt my most exciting year in crypto.

If you're new to #DeFi, take time to learn more with great outlets like @DefiantNews @DeFiRate @BanklessHQ and @Yield_TV.

S/o Daily Gwei by @sassal0x and Daily Ape by @Darrenlautf 💪

Until then, keep up the honest work!

More from Crypto

Michael Pettis @michaelxpettis argues that it is not always obvious who (China or the U.S.) adjusts best to "turbulent changes."
Bitcoin answers that question.
Thread:


World economies currently suffer four major redistribution challenges:
The most important is increasing government stealth use of the monetary system to confiscate assets from productive actors.
/2

That process is exacerbated by "Cantillon Effect" transfers to interest groups close to government ("the entitled class," public sector workers, the medical industrial complex, academia, etc....), which is destroying much of that wealth /3

The shadow nature (see Keynes) of government inflation makes the process unidentifiable, un-addressable and undemocratic.
The biggest victims (America's poorly educated young) are unequipped to counter generational confiscation tactics of today's wily senior beneficiaries. /4

Government control of the numéraire in key economic statistics (GDP, inflation, etc...) makes it impossible for economic actors to measure progress and liabilities. /5

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The full story of || Dhruv ||

We’ll see How Dhruv occupied a fixed position in the northern sky?

I repeat “Untold Unsung now Unearthed”

Go through entire thread carefully.

OM NAMO BHAGWATE VAASUDEVAAY

RT & spread the knowledge.
Any questions use #AskPratz


.... continuing from previous thread/story

O prince! Thus concentrate on that omnipotent eternal Lord with the mantra - ‘OM NAMO BHAGWATE VAASUDEVAAY’ .

https://t.co/H62ehDT3ix


The prince Dhruv greeted the sages and continued on his journey. At last, he reached a beautiful forest Madhuvan on the bank of the river Yamuna. It was the same forest, which was later occupied by a demon Madhu.


Shatrughana, the youngest brother of Sri Rama had killed demon Lavan, son of Madhu in the same forest & founded the township of Mathura. In the same forest, prince Dhruv decided to carry out his penance. As per the dictate of the sages, he began to recite the mantra continuously


Very soon, the earth began to move because of Dhruv’s severe penance. Even the seat of Indra could not remain stable. A stampede resulted among the gods. The gods then hatched a conspiracy to disturb the penance.