Author: taostats
Date: [Insert Date]
This summary unpacks the first year of Dynamic TAO, a bold experiment in decentralized tokenomics, revealing the raw power and inherent challenges of truly open systems. It's for investors and builders navigating the wild west of crypto, offering a candid look at how innovation coexists with market realities.
*quite a revolutionary idea to take a blockchain of one token and turn it into 128 new tokens in an instant.*
*All the things that people said that were going to definitely happen definitely did happen. All of the negative things that people said that were definitely happen. the rugpulls and the ponzies...*
*If you want to have permissionless markets, if you want to use the wisdom of the crowd to solve a problem, you're also going to have [bad] people.*
Podcast Link: Click here to listen
Very good. Hey, Swamin Nation. Hey, everyone. I am currently lighting up a celebratory sort of cigar. Hey, so am I. Well, not cigar, but hey, close enough.
It's not exact. It's not exactly anniversary of dynamic towel, but it's very close. And so we're going to take that time to make it the anniversary and do a little bit of a walk down memory lane kind of thing.
There's actually a fantastic image of that call with all 350 people that were on it listening to that launch which was insane. We really didn't know what we were in for. It worked though. It was incredible and yeah so one whole year of DTA guys.
And quite a revolutionary idea to take a blockchain of one token and turn it into 128 new tokens in an instant. And of course, everyone who participated in that year knows that there were some ups and downs. Quite literally ups and downs.
We went from an incredibly low volatility, sorry, a low liquidity regime to now a hyper high liquidity regime with very little MEV resistance, a functioning market, tens of millions of dollars of daily volume or millions of dollars of daily volume, tens of thousands of TOAO per day.
We've had Ponzies. We've had financial schemes. We've had rug pulls. All the things that people said that were going to definitely happen definitely did happen.
All of the negative things that people said that were definitely happen, the rugpulls and the ponzies, we knew going into dynamic tow that that was going to happen because there's just no avoiding it.
If you want to have permissionless markets, if you want to use the wisdom of the crowd to solve a problem, you're also going to have people. And you're going to have those people run scams on other people.
And that did happen. We had 10x, we had subnet 28 a very initial Ponzi idea, pay to mine which we hammered down and there was a lot of scams. The word scam was thrown around a lot which was good because I actually think that and I tend to lean on the side of being a more toxic community in that sense being willing to critique critique.
We had all of that happen. We had rugps. We had financial schemes. We had people play around with different economics.
One thing that we saw was the subnets learned that they needed to burn some of their minor mission in order for their subnets to make economic sense. We didn't stop that because we couldn't without too much oversight from and we also believe that in the end it was probably beneficial for these subnetss that went from a regime before DTA where basically everyone was just incentivized to spend as much.
