BREAKING: EtherFi proposed a dedicated Aave V4 instance on OP Mainnet to power EtherFi Cash.
The proposal includes up to $175M in launch assets, GHO integration, and a 20% revenue share to the Aave DAO.
I think itβs time to revisit the accredited investor laws in the US.
Companies are staying private longer, where only accredited investors (aka rich people!) can invest. Retail investors can only come in after IPO, when much of the upside has already been captured.
These rules were created with the best of intentions, to protect regular people from scams - a noble idea. Unfortunately, in practice they've often made it illegal to get richer, unless you're already rich. A regressive tax!
We have to judge policies based on their outcomes, not on their intentions.
These are two possible routes I see:
1) Replace the rule with something merit-based, like a financial literacy test. Pass it and you're accredited. Having a qualification based on competency rather than your bank balance or income seems far more fair.
2) Remove the rule entirely. Let consenting adults assess their own risk. Disclosure requirements stay and fraud enforcement stays to punish bad actors.
Lens and @family are hosting a hackathon to spare devs from the existential dread that comes with doomscrolling during the holiday season π
Prize pool of 50,000 $GHO.
Judged by the Lens community + devs, onchain on @jokerace_io.
The identity layer on Lens has two core primitives: Accounts and Usernames.
Accounts are smart contracts using EVM addresses as unique IDs. They're portable for easy use with all Lens features and apps. These immutable Accounts are yours forever. Users can assign managers and set permissions for secure account access.